A book by Ioana Hategan
Balancing Upwards
A journal of twenty months in an Executive MBA, and of the transformation underneath it.
Written in airports, on planes and at weekends, during the Executive MBA at SDA Bocconi in Milan. Less a description of a programme, more the record of a journey that changes you.
Moments from the EMBA programme. Tap a photo to enlarge.
A book for a hot meal
By buying this book, you are also sharing a meal.
All proceeds will go to the Hategan Foundation’s campaign “An Edelweiss Flower for a Hot Meal,” with every copy sold covering a hot meal for a disadvantaged child in Western Romania. Here, we call it simply “A Book for a Hot Meal.”
About the book
Not a report on an EMBA. A story about stepping into the unknown.
This journal describes my twenty months in the Executive MBA programme at SDA Bocconi University in Milan, from May 2023 to March 2025.
I wrote it in the airport, on the plane or at weekends, less out of a need to describe the content of the programme technically (although there is a lot of technical information about it) and more with the intent to record the details of a fascinating journey that had a profound inner transformation effect on me.
This book describes that journey, but it follows a course which is probably applicable to any professional or even personal journey we take in our lives. Any choice, especially for something which takes a longer time, is made with a limited degree of control over what follows.
In most cases we discover that we need to preserve our motivation and remain consistent with our values and purpose, despite inner or outer challenges. And every time, towards the end, we feel we are rewarded for it.
“Most of the time we will find ourselves in situations we could not anticipate and don’t know how to address, no matter how much we prepared for it.”
Not only for people in an MBA. For anyone weighing a leap into the unknown.
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Readers interested in transformation
The inner side of a long, demanding commitment, recorded as it happened.
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Anyone considering an MBA
What the twenty months actually ask of you, beyond the curriculum.
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Entrepreneurs and professionals
Staying consistent with your values and purpose when a choice stops being comfortable.
Foreword
“Ioana was not only acquiring new knowledge. She was becoming more confident in the way she used it.”
In my many years in executive education, I met thousands of students. Some remain in my memory because of what they achieved; others because I watched them change. Ioana Hategan belongs in both groups. I first met Ioana as Academic Director of the Bocconi Executive MBA program. That was my official role, though I write this from a personal perspective.
When Ioana joined the program, she was already an accomplished lawyer and entrepreneur in Romania. She also had a family and two adolescent daughters. Twice a month, she traveled from Romania to Italy to attend classes. Then she went home and managed her work and family responsibilities.
Read the full foreword
There were flights, classes, assignments and examinations, alongside the professional life she had already built. She was studying in Italian and English, neither of them her native language, while entering a class full of ambitious engineers and managers with global experience.
At the beginning, Ioana was quiet and shy. She was in another country, working in unfamiliar languages and studying subjects that were often far removed from her legal background. She stood out, although I am not sure she felt comfortable doing so. In time, however, what made her different became important to the class. Ioana did not look at problems in the same way as most of her classmates. Her experience as a lawyer and entrepreneur allowed her to notice things that others missed. She brought insightful questions and a different kind of reasoning to discussions. Moreover, she has a hidden, unconventional grit.
This book describes what happened behind the visible part of that experience, chronicling the fatigue of combining study, work, travel and family life, but also describing the satisfaction of seeing unfamiliar subjects gradually making sense. New ideas connected with what she already knew and conversations with classmates created other ways of looking at problems. The transformation was not sudden; perhaps it was not always easy for her to recognize while it was happening. From my position, however, I could see it. Ioana was not only acquiring new knowledge. She was becoming more confident in the way she used it.
American scholar Jack Mezirow wrote about transformative learning: the process through which adults begin to question certain assumptions that have shaped their world view. I have always found this idea important although in reality the process is more cluttered than it sounds in academic writing. Executive education gives people tools and professional skills, but that is only part of the equation because it also asks them to reconsider what they already know or are capable of doing. This can be uncomfortable, but it can also reveal possibilities that were difficult to see before. I believe this happened to Ioana. I saw her move from uncertainty in unfamiliar subjects to the pleasure of understanding them and using them in her own way. She did not become another person, but she was increasingly aware of her own abilities and better prepared to trust her judgement. For me, the clearest evidence came at graduation.
The woman who had entered the program so quietly was chosen by her classmates to speak on their behalf. She stood in front of an audience of 1,000 and delivered a speech that left a deep impression. Her classmates had come to see something in Ioana that perhaps she had not fully recognized upon her arrival in Milan. As a woman directing an Executive MBA in a still predominantly male environment, I was particularly sensitive to some of the challenges she encountered. I also became more aware of how much it can matter to see another woman take on a position of responsibility. When we see someone taking a path that we had not imagined for ourselves, the path becomes a little more real.
Her commitment reminded me that education does not move in a single direction, from professor to student. Teachers are also changed by the people who enter their classrooms. We learn from their persistence, what they bring and the questions they ask. I think Ioana’s example has meaning beyond the classroom. Her daughters have seen closely what it takes to continue learning while working, traveling and caring for a family. They have also seen that growth does not belong only to the beginning of adult life. I think, too, of the younger people who attended the graduation ceremony. Some of them may have simply enjoyed Ioana’s speech. But others surely saw a foreign woman on that stage, speaking in a non-native language with confidence and in her own voice, and perhaps imagined something new for themselves.
A few years passed since Ioana’s graduation. Time changes the way we remember an experience. The deadlines, flights, examinations and exhaustion move into the background and the meaning of the whole experience becomes clearer.
This book has given Ioana the opportunity to look back and understand what that period meant to her. It is not a story of effortless success. Rather, it is a personal account of difficulty, discovery and change, written by someone who continued even when continuing was not easy. I hope her story will be useful to people facing an unfamiliar chapter in life, especially women who are trying to reconcile professional ambition, personal growth and family responsibilities, particularly when they find themselves in environments where women are still a minority.
My dear Ioana, I hope you continue to learn, to travel between different worlds, and to find paths that are truly your own. Above all, may you continue to trust the voice your classmates once chose to represent them.
Renata Trinca Colonel Academic Director, Executive MBA, SDA Bocconi · Milan, September 2026
About the author
The EMBA journey
The experience behind the book
Photos and video from the programme, from the first day in Milan to the graduation ceremony.
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Stage 1
The beginning
May 2023, Milan.
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Stage 2
The tough moments
To be included
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Stage 3
The transformation
To be included
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Stage 4
Graduation
March 2025, SDA Bocconi.
More from the programme
Testimonials
From the people who were there
An Executive MBA is not simply an educational journey. In many ways, it is a small representation of the real world: an environment filled with challenges, new goals, ambitious milestones, and people with very different experiences, skills, and perspectives.
Read the full note
And yet, what brings us together is something deeper: the desire to grow, resilience, curiosity, and the constant drive to improve ourselves, but also to improve the world around us. The belief that, starting from our own small corner, each of us can contribute to building something meaningful — within organizations, across industries, and in society.
It is from this awareness that Ioana, Cabiria and I founded MENTAT Advisors: from the idea that the value of a journey like this should not end with the MBA, but can evolve into a living and active network with a shared purpose — bringing together different skills, experiences, and perspectives to address challenges, seize opportunities, and overcome obstacles together.
For me, the EMBA was much more than an academic experience. It was a journey within myself, shaped by encounters, conversations, and discoveries across worlds, people, and perspectives very different from those I had known. An experience that encouraged me to look beyond the boundaries of my own expertise and certainties, and to understand how much we can learn from one another when we are truly willing to put ourselves out there.
Seeing the thoughts and emotions of this journey brought together in a book is a gift that Ioana, with her big heart, has chosen to give us.
A journey that perhaps does not end with the MBA, but continues through the people we have met, the ideas we have shared, and what we choose to build together.
There are experiences that add something to who you are, and others that change the way you see yourself. For me, the EMBA was one of those experiences.
Read the full note
For two years, you constantly step outside your comfort zone. You challenge yourself, rethink your priorities and make space for people, ideas and perspectives that were not part of your world before.
And somewhere along the way, something changes. You become more aware of who you are and of what you really want. You discover strengths you didn’t know you had, and start looking at yourself and your future differently.
Looking back, I think this is what the EMBA gave me most: not simply new knowledge, but the confidence to take paths I would never have considered before.
MENTAT is one concrete expression of that change. Something that probably would not exist without this experience.
Ioana and Daniela have been extraordinary companions, and I am deeply grateful that what started in a classroom has given us the opportunity to create something new together.
For anyone considering embarking on an MBA journey, I hope this book offers both an honest reflection of what that experience can be and the inspiration to embrace the challenges, opportunities and transformations it can bring.
Balancing Upwards
The book is available on Kindle.
Thank you for being a part of this journey by reading it.
Every copy sold covers a hot meal for a child in Western Romania. A book for a hot meal.
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From the book
Acknowledgements
This book wouldn’t exist without the incredible network of people who supported me along the way.
Read the acknowledgements
First and foremost, I would like to thank SDA Bocconi, which gave me a wonderful opportunity and provided the context that allowed me to write this journal. I am a proud Bocconi EMBA graduate and forever grateful to be a member of the Bocconi Alumni global community.
To Renata Colonel, the co-director of the EMBA Program at SDA Bocconi, a wonderful teacher and special person whom I am honored to call a friend; she was the first to review my draft, encouraged me to publish it and graciously agreed to write the foreword.
To all the other professors, staff and colleagues from my Green Class and the other 2025 generation of EMBAs, you are all fantastic and inspired me to write this book; I have some of the best memories of my life with you and I am forever grateful for each and everyone of them.
To my daughters, F & A, you have always given me purpose and motivation; I thank you from the bottom of my heart for accepting me as I am and for loving me immensely. I love you too, and you know how much.
To my partner M, thank you for keeping me grounded, but also encouraging me to reach higher, broader and deeper in everything I do. Thank you for giving me the space I need and for loving me every day.
To my parents, E & N, who put the first book in my hands and always encouraged and supported me to chase my dreams, no matter how wild they seemed.
A special thank you to my editor and friend, Andy Trincia, an American living in my city of Timisoara, who read early drafts, pointed out plot holes and patiently and thoroughly helped me polish this manuscript into what it is today. This book would not have seen the light of the day or been written in such perfect English without his precious support.
I also want to mention a special thank you to my friend and graphic designer, Ciprian Agachi, a very talented Romanian artist, born in the same town as me, who accepted my invitation to design the cover of this book. The cover was designed by his talented hand, and I am very grateful for his contribution to this project.
Last but not least, I want to thank God for giving me the strength and energy to pursue this path and believing in myself and my capacity to overcome any situation that seemed impossible. I encourage every person who is dealing with difficulties to remember that we do not fully know what we are capable of, so we should always be willing to test our limits. This is the only way to grow in life which is, after all, our purpose.