Over the past year my classmates and I have studied the basics of management and leadership. Now, in the final term of the one-year course at Judge, we have the chance to hear about what it’s really like from those at the top of some of the world’s major organisations.

I expected that the Leadership in Action series would be one of the highlights of the year, and the first session lived up to my expectations.

The sessions are being arranged and hosted by Lord Stevenson of Coddenham, the chairman of HBOS. This week he had invited Rick Haythornthwaite, the former chief executive of Invensys; Helen Alexander, chief executive of The Economist Group; and James Crosby, the former chief executive of HBOS. The topics included how to handle pressure, take risks, manage personal lives, deal with mistakes and many others.

Haythornthwaite was the first speaker and began by talking about his experiences in rescuing Invensys: “Take each day one at a time. Focus only on two things: avoid the things that will get you killed; do the things that will take you forwards.” After him, Crosby talked about how to deal with failure: “As CEO you’ll make about ten really important decisions; if you get six of them right you’re doing well. Be prepared to make mistakes and learn to deal with them well.” Finally, Alexander spoke about choosing your next job: “Look at the people at the top of the organisation you’re considering and ask yourself ‘Do I want to be like them?’.” The opportunity to hear from people with such a wealth of experience and talk with them afterwards is priceless.

On a few occasions over the past year I’ve asked myself: “Is it worth taking this time out to study for an MBA?” I’m not sure that I can yet evaluate the usefulness of the lecture material. I found that I fully understood the material from my previous degree only some years afterwards. I have no doubt that the same will apply to the MBA – as I begin to apply the concepts that I’ve studied over the past year I expect gradually to gain a better understanding. However, the lecture material is only one aspect of the MBA. The people and environment have made the year worthwhile. I have established many new relationships and contacts. My worldview has changed to be more global and encompass a wider breadth of issues than before. Given the choice, would I do it again? Absolutely.

This is Tim’s final column in our MBA Insider series.

Next week: Mike Smith, the winner of last year’s Henley Management College scholarship, reflects on his experience of the school’s executive modular MBA; we also introduce this year’s competition.

Times Recommends

• Inspirational leadership
• How to get a new job
• The reluctant CEO