Archive for January, 2011

MBA Formula

I’m just beginning to get involved in the planning stage of a paper-based Masters degree in Technology Management. The team is considering the format of the degree, and how it will be studied by the students.

We keep going back to the format of the MBA - papers plus practical projects – as being the most suitable for applied study. It seems old hat, but there is little that is as effective for professional development. And one year full-time, two years part time again come up as being the ideal. Almost everything we do has to be able to be delivered both in the classroom and online, so this is automatically a part of the design.

It’s interesting that we should try to get away from a tried and true formula; of course, we won’t be able to and will end up with an MBA type degree. But it will be none the worse for that, and we will have re-examined why we are using this formula.

Timing

I started to look into when MBA programs began their academic years. Many institutions begin their MBA programs from September or October, the traditional time that the academic year begins. However, online MBAs seem mostly to have two starting points: September and January.

This has been taken up by some graduate schools, and many of the Executive MBAs start in January, finishing in December. Some graduate schools have taken on this timetable across the whole of their MBA programs. Some online MBAs will allow you to start in April as well, making sure that the introductory courses are studied; after this you can choose the order of many of the courses that make up your online MBA program.

Experience

I’ve been reading an article that looked at companies’ attitudes about employing MBAs. Interestingly out of the five multinationals mentioned, there were two who didn’t actively recruit MBAs, although they admitted that the skills that can come along with the people can be very useful.

The single sentiment that came through from the five companies was that MBA graduates needed experience and specialist knowledge, as well as the knowledge and skills they learned from the MBA program. The comments centered around the fact that an MBA indicated potential, but that the person had to work to fulfill that potential and that there were no guarantees that holding an MBA gave automatic access to the top jobs.

Interestingly, those companies who actively recruited MBA graduates said that although they had relationships with some business schools, they would consider graduates from any MBA program.

Real Theory, Real Practice

When studying for a graduate degree for professional development, you’ll be working with people who are doing research in your areas of interest. A professor in a good management school tells me that he is in the process of forming a Leadership Center, to attract managers who are mid career and have evolved successful management styles.

He would like to encourage these managers to study for PhDs, so they can turn their experience (in the light of other management theory) into theory that other people can learn from. He maintains that a major problem for management is that, for many years, it was not perceived as a subject that could be taught, so that handing on styles became the province of popularist books.

Studying an MBA where this kind of research is being actively pursued means that you can take advantage of some real cutting edge ideas, that are promulgated by people who have real experience.

Two for the Price of One

All kinds of careers can start with an MBA - we tend to think that studying for an MBA is for people who want conventional mainstream management careers. Yesterday I had a conversation with someone who is an actor in the theater and movies, and who started his career in acting with an MBA.

He had been in the army and decided to re-educate himself in preparation for his second career. He studied an MBA and was offered a job managing a group of theaters and their associated acting companies. He still does this, but he found that he was a useful bit-part actor as well, so now he combines the two.

He says that his is the greatest job, and he wouldn’t change it for anything. He effectively runs the business part and has succeeded in enlarging the number of theaters in the group. His acting career is almost a hobby, but really adds excitement to an already satisfying career.

Online Preparations

Well, the holidays seem like a lifetime ago now, and spring is nearing. For me, the new year has involved tidying up and  organizing stuff from last year.

If you’re studying for an online MBA, especially if you’re juggling MBA and work, you might relate to the need to organize. Firstly, organizing your finished courses in your head could be really beneficial: ideally, all those classes you’re taking should inter-relate with one another, instead of simply floating around in separate bubbles in the mind.

So why not read over last year’s work, making connections between different classes and between what you’ve learned on the job and in class. Also, make notes of the areas that you need to revise or work on further, and refresh your knowledge of what you have covered this year. It’s a good way of preparing for spring, when all things become new.

When Losing Focus Could Be a Good Thing

Entering an MBA school might mean choosing to focus on a particular area of business, such as finance, IT, marketing or operations. Of course, when our economy took a decidedly downward turn, business schools began to look at offering a broader view of business. Today’s business school is changing the way MBA schools teach their students to think about business and themselves, whether a student chooses to focus or not.

MBA schools now understand that executives make decisions that must take in a global view of their business. This means that an MBA is more likely to tackle business problems with an eye toward how different areas of their business can partake in the solution. Having focus that is too tight–even in focused programs–means losing sight of the big picture.

In addition, business schools are seeing MBA candidates with a much more diverse set of experiences. It isn’t uncommon for doctors, lawyers or even technology professionals to invest in MBA schools.

The end result of teaching a broader view is readily apparent in recruitment. Recruiters now understand that innovative thinking, a by-product of the broader view being taught a many MBA schools, is what corporations want most from their employees.

This approach to teaching is also one of the best reasons to investigate entering an MBA program in 2011.

Where’s the Love for the International MBA program?

Has the luster worn off American Business Schools for International Business MBA program candidates? While 74 percent of MBA programs in the US are reporting a decline in International Business MBA program applications, the real reasons probably have more to do with the current U.S. Visa restrictions still in place since the 9/11 attacks.

International MBA program applications from students in China, India, Turkey, and Eastern Europe, the bedrock of international MBA programs here in the US, have been adversely affected by tougher travel restrictions and student visa regulations.

Back in 2003, there was a 24 percent drop in the number of foreign student visa applications, according to the Consular Affairs office of the U.S. State Department. While the situation is improving, it continues to pose a challenge.

Another reason for a decline in foreign students in U.S. MBA programs is increased marketing by international MBA programs in foreign countries, in an effort to keep their students from traveling abroad in search of education. Adding to this is American International MBA programs opening branches on foreign soil.

The lack of interest for international MBA programs, though, could be good news for American students. With less competition from foreign students for spots in top MBA programs, it might be easier than you think to get in to your first choice.

Reasons for Study

I’ve been reading some comments from people who took their MBAs five and more years ago. A couple of them studied online, but more of them studied in the classroom – as you would expect at that time.

Most of them (around 80%) took an MBA because it was a convenient time in their career, and they felt that it was the best way to progress their careers – mostly to upper middle management and above. Age group was mostly in the 30 to 40 bracket, with one man over 40.

The real help that every single person mentioned was in the contacts that they made — not only for business purposes, but also in terms of help and support during and after the program.

There was also a general consensus that the skills and confidence they gained really changed their careers – sometimes literally. Several people said that they gained enough confidence to enable them to contemplate and go ahead with a complete change of career.

Modern Management

I wonder what business culture would be like if the MBA had not been invented. Even twenty years ago, the MBA was beginning to have a real impact on the way that businesses and other large organizations were managed. Today, using MBA graduates has become so essential that large corporations have their own MBA programs, or organize MBAs under their own banner.

Before having this multi-subject education, most managers came from either a financial or an engineering background – the two major areas in product-oriented organizations in the pre-marketing days. This meant that what we referred to as management was largely about administration and control. Management MBAs have changed this.

Modern management, as MBA management degree programs hammer into students, is much more about planning and enabling, allowing people to know their roles in the organization and then giving them the resources and the space to get on with it – well this is the ideal anyway. MBA education gives graduates the tools to do this job, and the understanding to be able to implement it in the organization they are working in.