business education today. mba

8/2/2019 Business Education Today. MBA

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HS for Alushta Seminar, August 2002

Business Education Today.

MBA

Concept of MBA education

Academic learning

Non-academic contents

Non-academic service

Business schools


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Concept of MBA education

American invention1908

About 100 000 graduates per year in the USA

Last year 14.4% MBA graduates in the USAwere from abroad


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Background of current MBA

standard.

80 88 - 95 today

universities

Traditionaleducation

Debate onMBA

education

Responsibilityfor the MBA

product

Busi-ness

Nochallenge

MBA -question of

quality

Closerrelations &

influence


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What business did not like about MBA?

No accurate knowledge to meet business challenge!

Disintegrated knowledge packed into separated areas!

Questionable capabilities in understanding global aspectsof modern business!

Bad communication skills!

Poor or non existing habits for working in groups!

Poor preparation for absorption of changes!

Poor leadership skills!

No interest in entrepreneurship!

Unreasonable salary expectations!


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How has academia reacted to business

criticism?

Tensions in academic discussion, but after awhile

Humble acceptance of needs for change Changes in academic contents

Developing non-academic learning agenda

Creating Business Advisory Boards


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MBA change agenda.

Changes are not absorbed by all the schools yet!

MBAGlobal

mindCommu

nication

Inno

vativ

ness

Entre

preneur

ship

Ethics

Teams

M.

skills

Whole

person

change

leader

IT

practice


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Entrepreneurship

Team Initiated Enterprise (creation of real business)

(IMD Switzerland)

Entrepreneurship project - team consulting to a new local

company (Manchester)

Separate Entrepreneurship MBA (Manchester)

Entrepreneurship courses (Harvard, Stanford)

Entrepreneurship Conference organized by MBA students(Stanford)

Entrepreneurship Centre to enhance students knowledge

and graduates ventures (MIT)


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Team work

a number of team building workshops during the programduration (Queens)

the Learning Enterprise Team - study group which has

also many tasks for developing other groups andproviding various services to the MBA program (ENPCParis)

Outdoor actions for accelerated team building (IMDSwitzerland)

team consulting projects (Manchester)

team based study (Duke)

team based assignments in all programs


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Leadership

program for preparation of future business leaders

(Harvard, Michigan. IMD)

courses in leadership development in all reputable

programs

a lot of promotional preaching about value of leadership

capability for the future career in all programs


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Communication and presentation

Personal and Communication Skills course run

throughout a serious of simulations and role playing in

TV studio with real journalists (Cranfield UK)

case method is responsible for about 40% of class content

(Cranfield UK)

additional workshops for communication skills

development in most of the reputable programs


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Information technology

Pre-Program Information management Skills course (

Columbia NY, Cranfield UK)

Separate concentration within MBA Program ( MIT)

a lot of events to maximize students ability to manage

across space using information technology (Duke)


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Management skills

Series of workshop addressing management skills

(Harvard, Michigan, IMD)

a lot of promotional preaching about meaning of good

managerial practice for the future career of MBA

graduates


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Innovativeness

creativity and innovation projects (Manchester)

most programs talk about it but few do anything to

develop it


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Business ethics

only conversation, and occasionally one elective course

offered


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Change master

Management of change project (Manchester)

a lot of conversations and propaganda but little evidence

for valuable action aimed at making MBA graduate the

Change Master


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Global mind set

optional visit to companies in other countries (Dalhousie,London BS)

optional summer internships in Canadian Consulates(Dalhousie)

optional study abroad (York, Manchester)

foreign languages (York) Global Initiative - students research, speakers, social

events with a global focus (Harvard, London BusinessSchool)

Program divided into several sessions conducted in othercountries (Executive MBA at McGill, Michigan,Wharton)

two international study tours (Manitoba)

optional international study tours (Wharton)


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Close to practice

Consulting Teams under direction of Professors perform speciallygathered business contracts ( IMD, ENCP, Manchester, Manitoba)

field projects in the second part of the program (Quins, Canfield,London Business School)

three consulting companies owned by the MBA program and

managed by students (Dalhousie) Business Resource Centre - students operated consulting company

offers its service to local business; students can earn credit for twocourses while working with consulting projects (Windsor)

volunteers service to non-for-profit organizations (Windsor)

Strategy Field Study projects (York) optional four months internship at competitive basis or practical

projects solving real business

CEOs as teachers for specially designed seminar (Manitoba)


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Whole person development

Five times week long Professional Development Moduleproceeding each teaching module and additional one atthe and of Module number 4 (Queens)

a number of courses and seminars addressing values andskills (ENCP Paris)

Personal Development is the orientation of the entireprogram and it is demonstrated throughout a number ofworkshops (Cranfield UK)

a number of events addressing job searching strategies

(Dalhousie) students must attend 21 professional development

sessions (Windsor)

20 one - day workshops ( Manitoba)

GMAT d i i t ti th


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GMAT administration - there are

about 1500 MBA programs in the world.

Three groups.

I. Top traditional programs.

Examples: Harvard, Stanford, Toronto, INSEAD,LBS,

Exceptional candidates + exceptional professors +exceptional image of the university =

Excellent graduates + highly paid jobs.

About 2030 programs in the world.

GMAT d i i t ti th


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Three groups.

II. Innovators and challengers.

Queens, IMD, York, McGill

Good candidates + good professors +desire for innovation =

Excellent graduates + highly paid jobs.

About 200 programs in the world.


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Three groups.

III. Traditional Programs.

first mover advantage + good local demography +

well established reputation =stable business niche + acceptable graduates

absorbed by local businesses .

About 600 traditional programs,many of them did not start yet serious changes.


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US MBA - data for fifteen the best programs

ranked by US News

Acceptance rate - 14.00% ranging between 6.7% atStanford and 22.6% at North Carolina - Chapel Hill.

GPA -3.5 ranging between 3.59 for Stanford and 3.34 for

Berkeley. GMAT - average is 683.47 ranging from 722 at

Stanford and 664 at Duke University.

First salary - average is $ 79.530 US ranging from $

90 000 at Kellogg to $ 75 000 at Virginia (Darden).Graduates of Kellogg, Columbia, Stanford, Harvard,Duke, Dartmouth, MIT and Wharton are enjoyingaverage salary between $ 80 000 and $ 90 000 US.


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In Europe UK

13 000 graduates yearly

London Business School

Imperial College of London University Manchester University


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Western Europeexamples of respected programs

France INSEAD

Ecole Nationale des Ponts et Chaussees

SwitzerlandIMD

Italy - SDA Bocconi University

Spain - Escuela Superior de Administracion y Direccion

de Empresses in Barcelona (ESADE)

Norway - Norwegian School of Management BI

Denmark - Copenhagen School of Business

Benelux - Rotterdam University

Germany - 1 600 grads. 70 programs35 recognized


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Eastern Europeexamples of respected programs

Poland

Hungary

Russia


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What is on the MBA agenda now?

Academicdisciplines

+ responsibilityfor applications

+ learning integration& Schools customer

orientation

MBA role

revision

history mainstream current struggle


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Length of the program? No issue any more! Almostall the programs give opportunity for accelerated degree.

Oneyear programs are fully accepted by students and

academic community.

Flexibility is a new issue.Challenge?

How to design the entire portfolio of programs offered bya school or a group of schools so that students can move

freely between schools, programs and forms of education.


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Pre-Program preparation. Challenges?

How to ensure that all the cohortis equally prepared with basic disciplines?

How to provide an opportunity

to some more experiencedstudents to approach a

challenge exam?


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Introduction of the real world into the MBA

learning process. Challenge?

- courses prepared and run by a teamof an experienced executive and

a professor?

- practical projects undertaken by a group of

students (consulting assignments, new

venture creation)?

- mentoring program - cooperation between a student and

experienced manager?

How toimplement

perfectly

ideas like,


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Whole person development.Challenge?

How to balance the program

so that graduates have

iintellectual sophistication and practical skills,right values and personal integrity?


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Connections to the business world.Challenge?

Graduates careers.Re-shaping the MBA contents

Specializations.

Fund raising.


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Part-time market.Challenge.

How to provide the product equal in value with the full-

time programs and grow the market?


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HS for Alushta Seminar August 2002

MBA revision.

What is the MBA output? What qualifications arewe creating?

* 60% graduates go to financing orconsulting

* poor interest in entrepreneurial activity

* poor interest in line responsibility

We do not produce managers!Is it pre-selection result or

our program and pedagogy result?

business education today. mba

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