Business Education Today. MBA
Transcript of Business Education Today. MBA
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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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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.
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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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What is on the MBA agenda now?
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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What is on the MBA agenda now?
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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What is on the MBA agenda now?
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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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?
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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?