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Alain Falkon: Bringing Real-World Business to The 12-Week MBA Classroom

By Katelyn Powell

During an especially difficult finance session of The 12-Week MBA, faculty member Alain Falkon pulls up a participant’s company financials and poses the question: “What do we think about Kim’s company? What can we learn from the company’s Balance Sheet? What about their P&L Statement?”

The energy in the room shifts as participants consider the finance concepts from the perspective of the companies they and their peers work for. What might have felt abstract takes immediate form with real-world scenarios—something Alain hopes to bring to every class he teaches.

A Diverse Background in Engineering and Business

Alain Falkon‘s career is a testament to the value of diverse experiences.

Born in Lima, Peru, Alain began his professional journey as an electrical engineer in Israel’s high-tech industry. Despite his technical background, he soon discovered a passion for the business side of operations, leading him to pursue an MBA at the University of Chicago.

“I was looking to learn more about the numbers, of course, as an engineer. But I soon discovered how important soft skills are in business,” Alain said.

After completing his MBA, Alain returned to Latin America. He pursued business opportunities, became a partner in a technology integration company, and later founded companies in Chile and Argentina. His entrepreneurial ventures gave him practical experience, which he now applies to his role as a facilitator of learning programs.

How Alain Teaches The 12-Week MBA

Alain’s transition to education began with a position at a private university in Argentina, where he quickly rose from lecturer to director of the undergraduate business program. His passion for teaching and knack for making complex subjects accessible led him to leadership development roles, including his work with Abilitie and The 12-Week MBA.

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“I love Abilitie’s experiential learning and simulations that we use in The 12-Week MBA. They allow me to connect with people and help them understand concepts that can sometimes seem intimidating,” Alain said.

In The 12-Week MBA, Alain teaches the finance module, where his sessions are known for their practical, hands-on approach. He believes in making finance relatable by using real-world examples, often drawing from the participants’ own companies to illustrate key concepts.

In The 12-Week MBA, we focus on learning by doing. I believe the best way to understand finance is to apply it to real situations.

Alain Falkon

That’s why, before the start of a particularly challenging Finance session, Alain pulled the company financials of Kimberly, Paige, and Jacob’s employers. Rather than having the class look at sample Profit and Loss statements or Balance Sheets, he had the students consider the real-life finances of their employers and encouraged them to apply what they’d learned by forming questions to ask in their companies’ Quarterly Review meetings.

“I remember that moment in class. It really brought the concepts home for me, and I realized how much I had learned about finance in such a short amount of time. When I looked at my company’s financials, I had intelligent questions that I could take back to my employer. That type of real-world application gives me a seat at the table in a way I didn’t have before,” Jacob Powell, fall 2024 alum, said.

Alain calls what Jacob describes as “not losing the forest through the trees,” emphasizing that most people need a good understanding of finance and not step-by-step accuracy in solving accounting problems. It’s more about how applying the concepts can lead to success and career development in the real world.

Alain and the entire spring 2024 cohort of The 12-Week MBA.

Fostering a Safe Space for Aha Moments

Alain is committed to creating a supportive learning environment where participants feel comfortable making mistakes and asking questions. He encourages students to view finance as a language that may initially seem foreign but becomes more familiar with practice.

“Learning by making mistakes is crucial. You incorporate knowledge more deeply when you understand why something is wrong and correct it. I always encourage participants to take some risks, ask questions, and not be afraid of failing,” he said.

He also believes this trial and error process creates more “aha moments.”

“That’s when you see the faces and the eyes lighting up as participants start connecting the dots,” he said. “They understand how to evaluate projects, evaluate companies, and see the broader implications of financial decisions. It’s incredibly rewarding.”

Turning Finance into a Story

Alain hopes to be remembered for his ability to make complex concepts accessible and for bringing a story to life when he teaches finance.

“If people remember me because I helped them see finance as a story rather than just numbers and made them feel less uneasy about financial statements, then I’ve done my job.”

When it comes to his own story, Alain remains an active learner, constantly seeking new experiences and perspectives. He’s now actively involved in a venture capital fund, supporting entrepreneurs and founders in their business development and attending as many 12-Week MBA events as he can.

I learn as much from participants as they do from me. Every session is a chance to gain new insights and perspectives. We truly build a learning community together.

Alain Falkon

If you’d like to experience your own “aha” moment and learn finance through hands-on experiences, enroll now for The 12-Week MBA.

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