Although my internship at Thomson Reuters lasts two more weeks, this will be my final post. That said, I'd like to make some final reflections on my experience thus far. It's been both a challenging and rewarding experience overall, and I learned a lot both about business and my own self.
I can see myself in strategy. Working on the strategy team this summer definitely opened up my eyes to the value and opportunities that strategy brings to the table. Strategy is essentially the backbone of any organization. Without a clear understanding of the past, view of the present, and vision for the future, businesses cannot truly evaluate opportunities and take calculated risks. I loved the idea that my work sat on the C-level executive's desks multiple times throughout the summer, even if in a small way. Working with real issues on a day to day basis, and constantly pushing the company to be more competitive in both existing and new areas is an exciting line of work that I would love to pursue when full time hiring comes around. I am open to a management consulting firm where I can gain exposure to different industries, travel, and learn from the best, or on the corporate side like this summer. Regardless, I think strategy is an amazing role to start a career and understand the big challenges that go into running a succesful business.
I would love to stick with media and entertainment. Having worked in media strategy this summer and entertainment strategy last summer (Six Flags Inc.), I can safely say I've found an industry that I find both interesting, exciting, and intellectually challenging. Not only is the industry rapidly evolving (which provides an excellent opportunity to be at the forefront of these changes) but also it deals in customer segments I can relate to and products/services that I'm passionate about. That may be sports, television, film, news, or publishing, among others. I feel like this is an exciting business that I would love to be a part of.
One thing that I didn't receive from this experience was the contrast between company sizes. There are obviously benefits to working in a large corporation (networking, training, reputation, etc.) which I've experienced a ton in the past two summers. However, I have yet to truly explore the benefits of a smaller company--task ownership, close-knit relationships, and tremendous growth opportunities. Looking ahead, I'm still not sure whether I want to continue to develop my skills at a large company with the resources of a Thomson Reuters or Six Flags, or if I'd rather gain some valuable exposure at a start-up.
I've definitely gained some invaluable experience this summer at Thomson Reuters, and it will be interesting to see how I leverage those into a career after graduation.
Alex Weiss (BBA '11)
Showing posts with label Alex Weiss. Show all posts
Showing posts with label Alex Weiss. Show all posts
Wednesday, August 4, 2010
Thursday, July 22, 2010
Company Culture at Thomson Reuters
I'd have to say one of the biggest contributors to my rewarding experience this summer has been the culture at Thomson Reuters. In a way the culture is very paradoxical: competitive but friendly, independent but unified, fun but serious, laid back but intense. This may be difficult to grasp--I'll drill down further.
The people at Thomson Reuters have been nothing but welcoming, helpful, and warm from the outset. Whether approaching managers with questions, scheduling meetings with executives, or working in teams, everyone has been nothing but kind and approachable without exception. It seems like everyone is genuinely happy to be there, and treats eachother as such. I scheduled informational interviews with 2 senior level executives this month, both of whom made time in their schedule for me, gave well over a half hour to converse, and offered to help find an opportunity for me when I graduate. That's hospitality.
Thomson Reuters competes in a very crowded and cut-throat business where many players share an enormous market. Needless to say there is a very competitive mindset at the company, especially towards the big competitors (Bloomberg, etc.). However, Thomson Reuters also does business and partners with many of these very same competitors, creating an ironic, mutual love-hate relationship for employees.
Everyone on the strategy team is a lot of fun. Whether at after-work events, meetings, birthdays, or conference calls, everyone seems to joke around and have fun a good amount. But just as fast as the funny switch is turned on, it can be turned off. When an important project or assignment arises, the intensity immediately picks up and everyone works hard to make sure everything is perfect to the last detail. It's the perfect blend of intensity and laid-back attitude.
Overall, everyone really seems to buy into the company's goals, missions, and claims. No matter who you speak to within Thomson Reuters, they will tell you it is an incredibly exciting time to be an employee, filled with new product launches, industry chaning dynamics, and unprecedented growth. That kind of rhetoric is absolutely contagious, and everyone feeds off of senior management's optimism on a daily basis. That's a culture that I feel comfortable in. One where I can be myself and contribute in a unique way, but also share a common goal to be the best in the business.
Alex Weiss (BBA 2011)
The people at Thomson Reuters have been nothing but welcoming, helpful, and warm from the outset. Whether approaching managers with questions, scheduling meetings with executives, or working in teams, everyone has been nothing but kind and approachable without exception. It seems like everyone is genuinely happy to be there, and treats eachother as such. I scheduled informational interviews with 2 senior level executives this month, both of whom made time in their schedule for me, gave well over a half hour to converse, and offered to help find an opportunity for me when I graduate. That's hospitality.
Thomson Reuters competes in a very crowded and cut-throat business where many players share an enormous market. Needless to say there is a very competitive mindset at the company, especially towards the big competitors (Bloomberg, etc.). However, Thomson Reuters also does business and partners with many of these very same competitors, creating an ironic, mutual love-hate relationship for employees.
Everyone on the strategy team is a lot of fun. Whether at after-work events, meetings, birthdays, or conference calls, everyone seems to joke around and have fun a good amount. But just as fast as the funny switch is turned on, it can be turned off. When an important project or assignment arises, the intensity immediately picks up and everyone works hard to make sure everything is perfect to the last detail. It's the perfect blend of intensity and laid-back attitude.
Overall, everyone really seems to buy into the company's goals, missions, and claims. No matter who you speak to within Thomson Reuters, they will tell you it is an incredibly exciting time to be an employee, filled with new product launches, industry chaning dynamics, and unprecedented growth. That kind of rhetoric is absolutely contagious, and everyone feeds off of senior management's optimism on a daily basis. That's a culture that I feel comfortable in. One where I can be myself and contribute in a unique way, but also share a common goal to be the best in the business.
Alex Weiss (BBA 2011)
Wednesday, July 7, 2010
The Media Industry
It's really an unbelievable time to be working in the media industry. News media has really struggled over the last decade with declining ad revenues and entirely new methods of media consumption. It's been survival of the fittest throughout the industry, as the companies that adapt the fastest win out with emerging trends. In my internship at Thomson Reuters, I feel fortunate to be thrown into the middle of media revolution.
Reuters media, although the most recognized and branded portion of Thomson Reuters' business, actually accounts for a very small portion of the company's overall revenues. However, Reuters media is still a huge brand builder and money-maker for Thomson Reuters. Reuters Media, like the rest of the company, relies mostly on business to business transactions. While there is a Reuters news website that generates significant traffic (although mostly outside the U.S.), Reuters does not compete with media distributors such as the New York Times, Yahoo, CNN, etc., but rather the Associated Press and other content providers. In essence, Reuters creates content through its global, unbiased, journalists stationed worldwide. They then distribute that content, whether it be video, text, pictures, graphics, etc. to the aforementioned consumer focused media companies (NY Times, Wall Street Journal, etc.). While this does allow Reuters to avoid many of the problems plaguing the industry such as declining ad revenue and new platforms, it provides its own set of challenges that I have been working on solving as a Strategy Intern.
Without getting into too much detail, it's an incredibly exciting time to meet these challenges at Reuters. Whether it be adjusting to new ways of consumption (think iPad and beyond), adapting to changing consumer tastes (think twitter, mobile, etc.) or simply just generating more revenue out of existing channels, there is a plethora of change going on in the industry and at Reuters itself.
I look forward to continuing to get my hands dirty and give my best effort to solve some of these issues, anticipate changes, and shape the future of Reuters media.
Alex Weiss (BBA Rising Senior)
Reuters media, although the most recognized and branded portion of Thomson Reuters' business, actually accounts for a very small portion of the company's overall revenues. However, Reuters media is still a huge brand builder and money-maker for Thomson Reuters. Reuters Media, like the rest of the company, relies mostly on business to business transactions. While there is a Reuters news website that generates significant traffic (although mostly outside the U.S.), Reuters does not compete with media distributors such as the New York Times, Yahoo, CNN, etc., but rather the Associated Press and other content providers. In essence, Reuters creates content through its global, unbiased, journalists stationed worldwide. They then distribute that content, whether it be video, text, pictures, graphics, etc. to the aforementioned consumer focused media companies (NY Times, Wall Street Journal, etc.). While this does allow Reuters to avoid many of the problems plaguing the industry such as declining ad revenue and new platforms, it provides its own set of challenges that I have been working on solving as a Strategy Intern.
Without getting into too much detail, it's an incredibly exciting time to meet these challenges at Reuters. Whether it be adjusting to new ways of consumption (think iPad and beyond), adapting to changing consumer tastes (think twitter, mobile, etc.) or simply just generating more revenue out of existing channels, there is a plethora of change going on in the industry and at Reuters itself.
I look forward to continuing to get my hands dirty and give my best effort to solve some of these issues, anticipate changes, and shape the future of Reuters media.
Alex Weiss (BBA Rising Senior)
Thursday, June 24, 2010
Thomson Reuters Phase 2
In my 2nd two-week stint as a Strategy intern at Thomson Reuters, I continued to work on competitive intelligence, evaluate growth areas, and explore big picture opportunities for the company. I’ve learned more in the past two weeks about financial services, software, data management, and information systems than I ever wanted to or thought I would learn. But in our weekly intern lecture series, where every Friday an intern presents on a topic of their choice (relevant to Thomson Reuters strategy of course) I decided to follow my interest and talk about media strategy. I’ll be presenting on the topic tomorrow morning, but some of my focal points will be:
- Decline of traditional media and what it means for Thomson Reuters
- Monetization of digital content
- New media devices such as Smartphones and iPads
- New user friendly experience that’s interactive, transparent, customizable
- Thomson Reuters new media initiatives and growth opportunities
This will be my first presentation of the internship, so it will be a golden opportunity to show off those Ross-groomed presenting skills, share my research findings, and make a solid impression on the rest of the strategy team. Like any summer internship, this is a 10-week job interview so it will be important to go above and beyond to showcase my skills.
I’m also continuing my networking by making appointments to meat with executives every week. Not surprisingly, it’s more difficult than it seems. Everyone who I’ve tried to meet with has been booked solid for the last two weeks, but promised to set aside some time next week to meet for a half hour. Knowing how difficult it is to get a hold of these people makes it all the more important that I make the most of my time with them, learn and listen as much as possible while still making an impression. I’ll be meeting with both the Chief Marketing Officer and President of Reuters Media next week, so I’ll be sure to prepare some good questions. I always believe that you never know what connection will help you when you need it most, so I strongly value these meetings as a networking tool and sort of “audition”.
Go USA!
Alex Weiss
- Decline of traditional media and what it means for Thomson Reuters
- Monetization of digital content
- New media devices such as Smartphones and iPads
- New user friendly experience that’s interactive, transparent, customizable
- Thomson Reuters new media initiatives and growth opportunities
This will be my first presentation of the internship, so it will be a golden opportunity to show off those Ross-groomed presenting skills, share my research findings, and make a solid impression on the rest of the strategy team. Like any summer internship, this is a 10-week job interview so it will be important to go above and beyond to showcase my skills.
I’m also continuing my networking by making appointments to meat with executives every week. Not surprisingly, it’s more difficult than it seems. Everyone who I’ve tried to meet with has been booked solid for the last two weeks, but promised to set aside some time next week to meet for a half hour. Knowing how difficult it is to get a hold of these people makes it all the more important that I make the most of my time with them, learn and listen as much as possible while still making an impression. I’ll be meeting with both the Chief Marketing Officer and President of Reuters Media next week, so I’ll be sure to prepare some good questions. I always believe that you never know what connection will help you when you need it most, so I strongly value these meetings as a networking tool and sort of “audition”.
Go USA!
Alex Weiss
Thursday, June 10, 2010
Thomson Reuters First Impressions
Amidst the flashing lights, enormous billboards, and crowds of tourists in the heart of New York City's Times Square rests the Reuters building, the setting of my summer internship at Thomson Reuters. I knew relatively little about the company before starting there, and from my conversations with peers, it seems as if I was not alone. Thomson Reuters was formed in 2008 with the merger of Thomson (known for its footprint in financial services, market data, educational tools, among other things) and Reuters (known for its global, unbiased news coverage). While the companies shared a common bond in their passion for disseminating vital information to the world's professionals, there were a lot of synergies to be made before Thomson Reuters would truly come together as one entity. Even today, the growing pains are still visible, with many aspects of the company still not fully integrated. That said, Thomson Reuters is now arguably the largest information provider in the world, rivaling Bloomberg in the financial markets and the Associated Press in the media space.
My internship is in the Strategy group, which I also knew nothing about as I entered the building on June 1st. I now know that the Strategy division is a small thinktank that reports directly to the CFO, evaluating growth opportunities, acquisition targets, and overall company strategy for each year. And it's definitely exciting work. I was very pleasantly surprised to be working on such "big picture" assignments as a mere undergraduate intern. In fact, I can't even get into detail about my work because most of it involves initiatives that 99% of Thomson Reuters employees know nothing about, pretty cool in my opinion.
But what surprised me most about my first few days as an intern were the people. When I found out that 3 of my bosses went to Yale, Stanford, and Harvard respectively, and my fellow strategy interns were undergrads at Duke, Brown, and Yale, I was pretty intimidated. But I was immediately amazed to find how cool, friendly, helpful, and down to earth everyone was without exception. All working in a big open conference room together, the interns have formed a pretty close-knit group, and each day we have grown closer as we work together on assignments, ideas, and even pranks. After work on Tuesday, the entire strategy team was treated to the ultimate team building exercise, a night out at New York's ultimate ping pong lounge, SPIN. That is a must see for any ping ping fan/player.
Thus far the company has certainly lived up to my expectations. Overall, my assignments have been pretty interesting as well. Without getting into detail, I've been doing a lot of PowerPoint work, which seems to be a theme in strategy, to create slide decks as part of presentations that will eventualy reach the CEO's desk. However interesting or boring the subject matter, it's exciting to create such meaningful work at this stage in the game. In the coming weeks, I have a few more goals:
1) To meet as many influential people as possible and develop a large company-wide network
2) To get involved in the Reuters Media side of the company, especially in such a dynamic media landscape as we see now
I look forward to keeping you posted.
Alex Weiss, BBA
My internship is in the Strategy group, which I also knew nothing about as I entered the building on June 1st. I now know that the Strategy division is a small thinktank that reports directly to the CFO, evaluating growth opportunities, acquisition targets, and overall company strategy for each year. And it's definitely exciting work. I was very pleasantly surprised to be working on such "big picture" assignments as a mere undergraduate intern. In fact, I can't even get into detail about my work because most of it involves initiatives that 99% of Thomson Reuters employees know nothing about, pretty cool in my opinion.
But what surprised me most about my first few days as an intern were the people. When I found out that 3 of my bosses went to Yale, Stanford, and Harvard respectively, and my fellow strategy interns were undergrads at Duke, Brown, and Yale, I was pretty intimidated. But I was immediately amazed to find how cool, friendly, helpful, and down to earth everyone was without exception. All working in a big open conference room together, the interns have formed a pretty close-knit group, and each day we have grown closer as we work together on assignments, ideas, and even pranks. After work on Tuesday, the entire strategy team was treated to the ultimate team building exercise, a night out at New York's ultimate ping pong lounge, SPIN. That is a must see for any ping ping fan/player.
Thus far the company has certainly lived up to my expectations. Overall, my assignments have been pretty interesting as well. Without getting into detail, I've been doing a lot of PowerPoint work, which seems to be a theme in strategy, to create slide decks as part of presentations that will eventualy reach the CEO's desk. However interesting or boring the subject matter, it's exciting to create such meaningful work at this stage in the game. In the coming weeks, I have a few more goals:
1) To meet as many influential people as possible and develop a large company-wide network
2) To get involved in the Reuters Media side of the company, especially in such a dynamic media landscape as we see now
I look forward to keeping you posted.
Alex Weiss, BBA
Saturday, May 1, 2010
Thomson Reuters Prologue
I am a BBA rising senior and will be working with the strategy group at Thomson Reuters in New York this summer. I have interned with the PGA Tour and Six Flags Inc. in the last two summers and am looking for a more strategic, well-rounded, and career building experience in my last summer before entering the workforce permenently. Having been in sports and entertainment thus far, Thomson Reuters seems like the perfect opportunity to round out my resume with a global media company with unlimited talent and resources at my disposal.
While I know that I will be working in strategy on the financial side of the company, I am not exactly certain of what the job entails. I am under the impression that I will do a lot of industry analyses, evaluate growth opportunities or areas for improvement, and work on a project of my own interests. There are supposed to be about 10 interns in the division, so I look forward to working with other college students on some of these assignments. I've also done a bit of investigating and notices that the majority of my superiors are ivy league alumni, which should be an interesting dynamic and excellent learning experience, as I find that I (like many others) strive when surrounded by smart people.
Overall I am expecting an exciting corporate environment, a unique learning experience, and an unbelievable networking opportunity that will help me wherever I choose to work in the future. It is too early to tell whether I have a future with Thomson Reuters after this summer, but I will certainly be working as hard as possible to land a full time offer out of the internship. I'm pretty excited to meet so many new and intelligent people, work on exciting new initiatives at such a globally relevant company, and for the second summer in a row, work in the heart of New York City's Times Square.
While I know that I will be working in strategy on the financial side of the company, I am not exactly certain of what the job entails. I am under the impression that I will do a lot of industry analyses, evaluate growth opportunities or areas for improvement, and work on a project of my own interests. There are supposed to be about 10 interns in the division, so I look forward to working with other college students on some of these assignments. I've also done a bit of investigating and notices that the majority of my superiors are ivy league alumni, which should be an interesting dynamic and excellent learning experience, as I find that I (like many others) strive when surrounded by smart people.
Overall I am expecting an exciting corporate environment, a unique learning experience, and an unbelievable networking opportunity that will help me wherever I choose to work in the future. It is too early to tell whether I have a future with Thomson Reuters after this summer, but I will certainly be working as hard as possible to land a full time offer out of the internship. I'm pretty excited to meet so many new and intelligent people, work on exciting new initiatives at such a globally relevant company, and for the second summer in a row, work in the heart of New York City's Times Square.
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