Business Education Today' MBA

1
Business Education Today. MBA

• Concept of MBA education
• Academic learning
• Non-academic contents
• Non-academic service
• Business schools

2
Concept of MBA education

• American invention 1908
• About 100 000 graduates per year in the USA
• Last year 14.4 MBA graduates in the USA were
  from abroad

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Background of current MBA standard.
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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
  aspects of 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!

5
How has academia reacted to business criticism?

• Tensions in academic discussion, but after a
  while
• 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!
Entre preneur ship
Whole person
Teams
leader
practice
Global mind
Commu nication
MBA
change
IT
M. skills
Ethics
Inno vativ ness
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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
  program duration (Queens)
• the Learning Enterprise Team - study group which
  has also many tasks for developing other groups
  and providing various services to the MBA program
  (ENPC Paris)
• Outdoor actions for accelerated team building
  (IMD Switzerland)
• team consulting projects (Manchester)
• team based study (Duke)
• team based assignments in all programs

9
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 Business School)
• Program divided into several sessions conducted
  in other countries (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 specially gathered 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 two
  courses 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
  Module proceeding each teaching module and
  additional one at the and of Module number 4
  (Queens)
• a number of courses and seminars addressing
  values and skills (ENCP Paris)
• Personal Development is the orientation of the
  entire program and it is demonstrated throughout
  a number of workshops (Cranfield UK)
• a number of events addressing job searching
  strategies (Dalhousie)
• students must attend 21 professional development
  sessions (Windsor)
• 20 one - day workshops ( Manitoba)

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GMAT administration - there are about 1500 MBA
programs in the world. Three groups. 

• Top traditional programs.
• Examples Harvard, Stanford, Toronto, INSEAD,
  LBS, 
• Exceptional candidates exceptional professors
  exceptional image of the university
• Excellent graduates highly paid jobs.
• About 20 30 programs in the world. 

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GMAT administration - there are about 1500 MBA
programs in the world. 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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GMAT administration - there are about 1500 MBA
programs in the world. 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.
•  

22
US MBA - data for fifteen the best programs
ranked by US News

• Acceptance rate - 14.00 ranging between 6.7 at
  Stanford 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 enjoying average 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 Europe examples of respected programs

• France INSEAD
• Ecole Nationale des Ponts et Chaussees
•  Switzerland IMD
• 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 programs 35
  recognized

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Eastern Europe examples of respected programs

• Poland
• Hungary
• Russia

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What is on the MBA agenda now?
Academic disciplines
learning integration Schools customer
orientation
responsibility for applications
MBA role revision
history
mainstream
current struggle
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What is on the MBA agenda now?

• Length of the program? No issue any more! Almost
  all the programs give opportunity for accelerated
  degree. One year programs are fully accepted by
  students and academic community.
• Flexibility is a new issue. Challenge?
• How to design the entire portfolio of programs
  offered by a school or a group of schools so that
  students can move freely between schools,
  programs and forms of education.

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What is on the MBA agenda now?

• Pre-Program preparation. Challenges?
• How to ensure that all the cohort
• is equally prepared with basic disciplines?
• How to provide an opportunity to some
  more experienced students to approach a
  challenge exam?

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What is on the MBA agenda now?

• Introduction of the real world into the MBA
  learning process. Challenge?
• - courses prepared and run by a team of
  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 to implement perfectly ideas like,
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What is on the MBA agenda now?

• 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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What is on the MBA agenda now?

• Connections to the business world. Challenge?
• Graduates careers.
• Re-shaping the MBA contents
• Specializations.
• Fund raising.

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What is on the MBA agenda now?

• Part-time market. Challenge.
• How to provide the product equal in value with
  the full-time programs and grow the market?

33
MBA revision.

• What is the MBA output? What qualifications are
  we creating?
• 60 graduates go to financing or consulting
• 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?