Spain’s IE Business School has beaten 14 rivals to retain the number one spot in the 2015 Financial Times ranking of online MBAs.
An important factor in IE’s success is that its alumni earn the highest average salary at nearly $153,000, a rise of 43 per cent on their income on graduation three years ago...
5 November 2014
Big change is coming to Washington DC after the midterm elections. But as political lion Tip O'Neill famously said "All politics is local." Today on "The Business," we find out why two MBAs have opted for Main Street over Wall Street.
Brian Kenny: Today on "The Business"- the road less travelled. Business school grads who choose City Hall over Wall Street. I'm Brian Kenny, Chief Marketing Communications Officer at Harvard Business School. It’s Election season, in case you didn't notice- and in this edition of our podcast, we're introducing you to two MBAs who have invested themselves-- in local politics.
Mitch Weiss and Dan Koh are driven to succeed. It's almost palpable, when you talk with them. They're also innovative, open minded, and accomplished. Mitch has been an investment banker- and Dan was deputy to Arianna Huffington, at the Huffington Post.
But it seems that both Dan and Mitch have found their greatest challenge-- and their greatest reward so far-- working in the public sector, at City Hall. Both are Harvard Business School grads. And both have held the same job in Boston - Chief of Staff to the Mayor of Boston. Actually, for TWO Boston mayors. Mitch Weiss was Chief of Staff to the late Mayor Tom Menino. The longest-serving mayor in Boston history:
Mayor Menino: You didn’t elect me mayor because I am a fancy talker, you elected me mayor because I care about Boston.
U.S.A ranking of Best Business Schools 2014
1. Ivey School of Business - Western Ontario
2. IE Business School - IE University
3. European School of Management and Technology
Centro Community Partners, located in Oakland, fosters socioeconomic change in communities by providing business advisory services and leadership development programs to underserved entrepreneurs that are needed to grow businesses and provide jobs.
Earlier this year, Centro released a mobile app called the Centro Business Planning Tool, which people can use to create a business plan right on their smart phone. The app is available for Apple products (in English) and on Android (in English and Spanish).
To learn more about how Centro developed the app, check out "PhotoEssay: How We Made Our App in 7 Pictures"!
Watch the video below to learn more about Centro:
Management Team (centrocommunity.org/about/centro-team/)
Arturo A. Noriega
Founder & Executive Director
Arturo brings more than 17 years of work experience as a management consultant. Arturo specializes in economic development, strategy, governance, risk management, finance, and organizational change management. He has worked at Mission Energy, Moody’s KMV, Barclays Global Investors, AON, Deloitte, and Ernst & Young. He has earned an MBA in Strategic Management and Leadership from Peter F. Drucker School of Management at Claremont Graduate University and a BA in Economics and a concentration in Finance from Haas School of Business from U.C. Berkeley.
Naldo Peliks (video @ 2min5secs)
Chief Operations Officer
Naldo is responsible for developing Centro’s operational capacities, leading the organization’s advisory services and overseeing product development. He brings 10 years of marketing and business strategy experience working with organizations in technology, banking, retail and education. He is also a founding member of Baobank, a microfinance initiative in Burkina Faso. Naldo has a BA from the University of San Francisco and an MBA from IE Business School in Madrid Spain.
...With surprising poise and self-confidence, Casey Gerald rose to the occasion, giving the most inspiring and stirring speech we have ever seen given by a graduating MBA...
With three classmates, Casey founded a non-profit, MBAs Across America (mbaxamerica.com), which is a movement of MBAs and entrepreneurs working together to revitalize America. “We saw the signs for hope in entrepreneurs who were on the front lines of change. They showed us that the new ‘bottom line’ in business is the impact you have on your community and the world around you — that no amount of profit could make up for purpose.”
"Who’s Got Those Top Jobs?" (Harvard Business Review, March 2014) by Peter Cappelli (Wharton), Monika Hamori (IE), and Rocio Bonet (IE).
(Video Published on 11 Feb. 2014 ("Advice to young managers" at 5m12))
Peter Cappelli is the George W. Taylor Professor of Management at the University of Pennsylvania's Wharton School and the director of its Center for Human Resources.
Monika Hamori is a professor of human resource management, and Rocio Bonet is an assistant professor of human resource management, at the IE Business School, in Madrid. Prof. Hamori's work was published in Organization Science, the Academy of Management Annals, the Academy of Management Perspectives and Human Resource Management, among others.
...Over the past 30 years we've seen executives' education levels rise. About 65% of the leaders in 2011 held graduate degrees, compared with 62% in 2001 and 46% in 1980. Companies with the most MBAs in their senior ranks included Sears (75%), Sunoco (70%), and Disney (63%)...
Economist.com - whichmba - "A bumpy road to the top", 24th Feb. 2014
Aspiring MBAs may well ask: how do they get to the chief executive’s seat, and what kind of career bumps can they expect along the way?...
HBR (July 2010) article by Monika Hamori, "Managing Yourself: Job-Hopping to the Top and Other Career Fallacies"
Video May 2009, Dr Rocio Bonet speaks about the effect that MBA Rankings have on graduates' careers: "Career advancement of MBA graduates - IE Professors Talk".
If you still need evidence that a highly ranked MBA degree is worth the investment, look no further than this year’s starting median salaries. While it’s true that in most cases year-over-year starting salaries for MBAs have remained flat or shown meager growth, the impact of the degree is that it significantly boosts your pre-MBA pay.
This year’s MBAs reporting the largest percentage increases over their pre-MBA salaries graduated from Michigan State’s Broad School (a whopping 268.6% increase from what they had earned before getting the degree), Notre Dame’s Mendoza School (up 148.8%), the University of Minnesota’s Carlson School (up 132.2%), the University of North Carolina’s Kenan-Flagler Business School (up 122.2%), and Indiana University’s Kelley School (up 119.6%). And these numbers exclude starting bonuses and other bennies that are often handed out to MBAs when hired...
When Devi Vallabhaneni was accepted to Harvard Business School in the third round, she figured she'd sail through the MBA program. After all, she was a quant -- a facile-with-numbers CPA who had spent four years working for Arthur Andersen in Chicago, Singapore, and Hong Kong.
A pre-MBA B-school workout
In 2009, Wiley published Devi's book What's Your MBA IQ? and in 2011, with the help of Rao and her business partner and fellow HBS alumna Melissa Hayes, she launched MBA IQ, an interactive online curriculum designed to give students baseline knowledge in 12 core areas of business before they start their graduate degrees.
A recent article in the U.K.’s Guardian newspaper introduced me to what may be one of the most fascinating museums on the planet. Located in Ann Arbor, Mich., the facility run by GfK Custom Research goes under the informal name of the “Museum of Failed Products” and is a massive storehouse devoted to just that—products that some developer thought were going to change the world but ended up in the trash can.
If the museum has a central message, it’s that failure isn’t a rarity; it’s the norm. For every insanely successful product such as the iPhone or the Big Mac, there’s a whole host of ideas that only a mother could truly love, such as Colgate’s TV dinners and Pepsi’s breakfast cola.
Given the ubiquity of failure, shouldn’t business schools be teaching their students to follow Samuel Beckett’s injunction to “fail, fail again, fail better,” rather than filling their charges’ heads with unrealistic notions of winning every time?...
With grants and scholarships only able to help so far with funding an MBA, bank loans – if used carefully – can make up the deficit
Taking an MBA costs money: often, a lot of it. Top MBA courses can cost in the region of $100,000, and once application charges, sitting examinations, living costs and lost earnings are factored in, it is little wonder that banks have discovered there is a market in helping MBA students fund their studies. Private student loans can stand in for when federal loans, grants and scholarships fall short. A TopMBA survey has found that 80% of MBA applicants in North America expect to take out a loan to help finance their MBA, compared to 70% in Europe, and 65% in Asia...
This week I’d like to spend time discussing the nuts and bolts of the application, including work and academic history and extracurricular activities. After many years of reading applications, I’m surprised at how few applicants leverage these parts of the application given the importance of the information requested...
June 16th "GO BEYOND" IE Business School
Madrid, 10:30 am, in Spanish.
El professor David Bach, IE Business School Dean of Programs will present the new MBA part-time (Global MBA+) specially adapted to you.
IE Business School's Global MBA+ and Executive MBA+ allow you to personalize your MBA experience according to your personal needs.
Steve Jobs' successor is making his mark and trying to keep the Apple magic going.
...Indeed, the vibe, in the words of a former employee, is of an Apple that is becoming "far more traditional," meaning more MBAs, more process, and more structure. (In point of fact, 2,153 Apple employees reference the term "MBA" in their LinkedIn profiles out of a nonretail workforce of nearly 28,000. More than half the employees who reference "MBA" have been at Apple less than two years.)...
The one-year full-time MBA programme, standard at most business schools in Europe, is starting to become a more prevalent offering in the US as American institutions strive to court a different target market.
Applications to MBA programmes are historically counter-cyclical to economic conditions: applications rise in bad times and fall in good. But the recent global economic downturn has been a different story. According to a survey by the Graduate Management Admission Council, applications to two-year, full-time MBA programmes declined in 2011 for the third consecutive year...
Olin Business School at Washington University in St. Louis has received the inaugural MBA Roundtable Innovator Award for its program called Critical Thinking@Olin. The educational initiative is designed to develop critical thinking skills in MBA students and has had measurable impact on graduates’ success in the job market.
The MBA Roundtable Innovator Award was created to recognize and promote innovative initiatives in MBA education and to acknowledge the institutions that are driving change in the field....
MBA Roundtable Innovator Award Finalists
Other finalists for the award were Babson College for its fast-track development of a common core curriculum for its four MBA programs; Dalhousie University for Canada’s first Corporate Residency MBA; University of North Carolina at Chapel Hill for its online MBA program and its integration with the university’s traditional MBA program; and University of Pennsylvania for its Global Modular Courses, an accelerated study abroad program.
"All of our finalists were pushing the envelope in terms of creating innovative initiatives" said Henry Eyring, a member of the selection committee, co-author of Innovative University: Changing the DNA of Higher Education from the Inside Out, and advancement vice president at Brigham Young University-Idaho.
"As a judge, I looked at them with the mindset of a venture capitalist—which initiative would I want to invest in? Washington University rose to the top. Their Critical Thinking@Olin initiative is unique, it’s replicable by other institutions, and it has clear outcomes"
Selection Committee Members
In addition to Lifschitz and Eyring, other selection committee members for the MBA Roundtable Innovator Award included Robert Grosse, director of the Center for Global Business Innovation and Transformation at George Mason University; Santiago Iniguez de Onzono, dean and professor of Strategic Management at IE Business School in Madrid, Spain; Michael Jewell, entrepreneur, venture capitalist, and business consultant, and founder and former CEO of Celebrate Express; and Dorothy Jones, senior director of innovation at Frito-Lay North America.
About the MBA Roundtable
The MBA Roundtable is a collaborative, nonprofit organization, founded in 1995, that facilitates the exchange of information and resources on MBA curricular innovation. More than 150 business schools from across the world are members of the MBA Roundtable. For more information, visit www.mbaroundtable.org.
About Olin Business School
Founded in 1917, Washington University’s business school offers 12 degree programs at the undergraduate, graduate and executive levels. For more information, visit: www.olin.wustl.edu
Jörg Asmussen, originally from Germany, came to Italy to attend the SDA Bocconi Master in Business Administration taught in English during 1991-1992. He will take office on the European Central Bank Board on 1 January 2012.
The European Council has recently officially named the German national Jörg Asmussen, an alumnus of the SDA Bocconi MBA, a member of the Executive Board of the European Central Bank (ECB), substituting the resigning Jürgen Stark. Asmussen will take office on 1 January 2012. Jörg Asmussen attended the English version of the SDA Bocconi MBA during the 1991-1992 academic year.
The Executive Board of the ECB, made up of the President and Vice President of the Bank and 4 other members, has the responsibility of "preparing Governing Council meetings," says the ECB website, in addition to "implementing monetary policy for the euro area in accordance with the guidelines specified and decisions taken by the Governing Council and giving the necessary instructions to the euro area NCBs, managing the day-to-day business of the ECB and exercising certain powers delegated to it by the Governing Council."
According to the National Center for Education Statistics (NCES), over 150,000 students graduate with their MBA in the United States every year. That’s a whopping 25% of all Master’s recipients (compared to Computer & Information Science at only 3%).
Business Schools Have An Identity Crisis
A Change In Image, Not Substance
What Continues To Plague MBA Programs
Leaders Aren’t Created In A Classroom
The most popular business school professors are good teachers, plain and simple. They’re not rock stars, CEOs or celebrity researchers. Their names may not look familiar. But they’ve earned a place in the hearts and minds of their students by bringing to life accounting, finance and management, learning their names and helping them find jobs. Their students come first and it shows.
To determine which professors at the Top 30 U.S. full-time MBA programs were most popular, Bloomberg Businessweek used surveys sent to 2010 graduates asking them to identify their two favorites. Professors were ranked in order of absolute popularity. In all, the responses of 3,732 students were used to calculate this ranking; only schools that had more than 60 student responses were counted. At least one in every five survey respondents from each of the schools listed wrote down these names chosen for our top ten list as their favorite professor—pretty amazing considering they had hundreds of faculty members to choose from. Read on after the jump for the list.
1. Aswath Damodaran
Finance professor at New York University Stern School of Business
A seven-time recipient of Stern's "Professor of the Year" award, Damodaran practices open-source teaching, posting almost all his class materials on his blog. He's also one of the few business school professors to have inspired a tribute video on Youtube; the video spoofs pop star Justin Bieber's Never Say Never movie trailer. In the 89-second clip, the handiwork of a student, Damodaran proclaims "I want to be the Lady Gaga of finance." He has more than 4,000 followers on Twitter.
Ahuja ran a stoneware distribution business and designed educational board games while an undergraduate in his native India before enrolling at Ross in 1991 for his Ph.D., his MA and his MBA. He never left. The corporate strategy professor stresses the importance of integrity and generosity in his lectures - values he says were handed down from his mother and grandmother. Ahuja also oversees the school's chapter of Net Impact, a national organization dedicated to using the power of business to improve society and the environment.
Nolen has been on the faculty at his alma mater since 1980. In that time he has built up legions of fans. Former students describe him as a world-class storyteller (complete with a Texas accent) who brings his own experience as a small-business consultant to bear in lectures. Nolen's skills extend beyond the classroom: He "places more students than career services," says one former student, Q Beck.
The first part of our series explains the best way for soon-to-be MBA students to prepare for their new life and get their financial house in order
Editor’s Note: To help you make the transition from the working world to graduate business school, Bloomberg Businessweek is launching a new series about how to prepare for an MBA program. The series—this is the first installment—will provide tips ...
When leadership professor Nitin Nohria became dean of the Harvard Business School last July, he had to give up teaching in the classroom. But he has managed to do a bit of cameo instruction here and there, including the lunch-time presentation of a two-page case study on whether HBS delivers what it promises to MBA students: a transformational experience...
"Looking back, Georgetown was the perfect fit for me. I wanted an urban school, with an international focus and a globally known brand name"
I started business school at Georgetown's McDonough School of Business (McDonough Full-Time MBA Profile) with panic attacks. Once I met my classmates (incredibly accomplished people who were arriving from all walks of life and all corners of the world) and realized the full magnitude of our course load (four new classes every seven weeks, plus four residencies), I thought that a person like me (background in education, no real business experience) could never make it...
Article of Bloomberg BusinessWeek, June 16, 2011
Following Lehman's collapse, many big MBA employers cut back on hires from top schools, and a new crop picked up the slack
...more students have begun seeking nontraditional job opportunities and the job market for MBAs has diversified...The decline reflects an industrywide trend that has prompted business schools to better prepare students hoping for job offers from such firms...
...For the third year, Bloomberg Businessweek asked PayScale, a company that collects salary data from individuals through online pay comparison tools, to use its database of MBA graduates at the top U.S. business schools to calculate their median cash compensation—salaries and bonuses—around graduation and after they have an average of 5, 10, 15, and 20 years of pre- and post-MBA work experience in the same industry. We then used those data to calculate an estimate of median cash earnings over the entire 20-year span.
Overall, grads from the 57 top programs earned an estimated $2.4 million in base pay and bonuses over the course of a 20-year career, according to the data. On the high end is Harvard Business School (Harvard Full-Time MBA Profile), where grads earned about $3.6 million...
Financial-Services Companies, Consulting Firms Lead Hiring of M.B.A. Students After Declines
After two years of sharp declines in hiring, M.B.A. students are having more success landing jobs, and getting them earlier, than during the depths of the financial crisis...
Most CEOs spend the latter years of their professional lives giving presentations in high-pressure board rooms for select groups of middle-aged power brokers, not in lecture halls filled with green but eager M.B.A. students. However, a few opt to trade in their corner office for office hours and venture into the world of higher education...
29 April 2011, GBSN’s MBA Challenge Winner Announced!
The first MBA Video Challenge drew to a close earlier this month and the selection committee had the difficult job of choosing a winner from nine fantastic submissions. GBSN was pleased to receive videos from Haas, IMD, MIT Sloan, Thunderbird, UDD, Tuck and Strathmore which highlighted the innovative work of MBA students in Brazil, Chile, Guatemala, India, Kenya, Mongolia, Panama, Peru, South Africa, Tanzania, and Zambia.
Projects included the development of new technologies, the creation of new growth strategies, the provision of technical assistance, and the identification of new income-generating projects.
And the winner is… the eight students of Haas School of Business (USA) led by Hrishika Vuppala! These eight students spent one year working with Community Markets for Conservation (COMACO) and the Wildlife Conservation Society to produce an independent organizational audit, a three-year strategic plan, and a geographic expansion strategy. COMACO provides a market-based solution to wildlife conservation by combating food insecurity through the creation of markets for rural farmers who might otherwise practice destructive land use or poach wildlife.
The Haas team identified and recommended the investments necessary to overcome historical difficulties, act more swiftly in the pursuit of opportunity, and shift from tactical considerations to concerted strategic maneuvers. By doing so, COMACO is better positioned to reach profitability in a sustainable manner and achieve long- term success.
Congratulations to the following Haas students – Hrishika Vuppala, Lauren Gellman, Kristin Mannix, Dan Parker, Paul Collins, Ciera Ashley, and Ricardo de Paula. We look forward to celebrating your success at GBSN’s annual conference in Mexico City!
It's official: Management education in Asia is booming. With four schools firmly ensconced in the Financial Times top 20 global M.B.A. rankings—China Europe International Business School (CEIBS), Hong Kong UST Business School, the Indian School of Business, and the Indian Institute of Management—those who pursue an M.B.A. in Asia are banking on the idea that studying in the region will open doors faster, and wider, than ever before.
Flexibility and cost are just two factors swaying applicants to look at programs in the Far East. Most are much shorter than the traditional two-year program in the United States and are significantly less expensive than the top American programs...
The world is more complex today than ever. Is the MBA still a good way to prepare business leaders in this new world?
Much has been said about the role of greed in creating our recent financial crisis. Indeed, many managers were motivated to get the most for themselves in the short term. But most managers were simply unprepared to anticipate the impact of their decisions in a more complex world. Often overlooked, the economic downturn of the last couple of years was also a crisis of naiveté. Whether MBA programs can teach ethics and responsibility is already in doubt. Are MBA programs up to the bigger challenge of developing leaders who can manage complexity as well?...
MBA Admissions, Strictly Business, February 04, 2011.
Those interested in pursuing an M.B.A. have a lot of options: full-time or part-time programs, abbreviated courses designed specifically for executives, and joint degrees with other academic disciplines, to name a few. In the past decade, another option has emerged and continues to gain popularity: online M.B.A. degrees.
While the quality of online M.B.A. degrees left much to be desired during their early days, their attributes have steadily improved over the past few years, as have their pedigrees. The University of North Carolina's Kenan-Flagler Business School made headlines recently when it announced the launch of a two-year online M.B.A. program. Other highly ranked programs allowing students to complete degrees online include Indiana University's Kelley School of Business and Spain's IE Business School. As the demand continues to grow for such programs, it's possible to imagine future M.B.A. students obtaining Harvard Business School degrees without once setting foot in Cambridge...
want to thank everyone who has contributed to this thoughtful and vigorous discussion in the finest traditions of the Harvard Business Review. The forum succeeded as promised in sparking an open and fresh dialogue among experts, practitioners, students and readers. It will undoubtedly influence thinking here at Harvard Business School and among all those who participated. I hope it will also be a precursor to many other forums of this type on pressing business and economic issues of our time.
As many contributors have noted, this has been a period of reflection and considerable introspection for business schools. Over the past two years, as we planned and then marked our Centennial in 2008, HBS considered important questions about the future of market capitalism and the future of management education. We never imagined they would come together in such dramatic fashion as we witnessed the financial crisis, a global recession as deep and painful as any since the early decades of the last century, with fundamental questions about the role and responsibility of business schools in the mix.
I recognize merits of both sides of the debate over the extent of business schools' culpability. Ultimately I share the view of Steve Kerr, Andrew Likierman and my colleague Carl Kester: business schools must share some of the blame, but there is plenty to go around. Yes, there are lessons to be learned and things we have to do differently. As I have argued before, there were imbalances both on campuses and in the economy during an extended period of growth, where people became less focused on systemic risks and more focused on the upside and on making money. I agree that we need to move that focus back toward the center.
But to suggest that business schools and the MBA are the root cause of the global financial crisis is simplistic nonsense that ignores the obvious reality of the many complex and interrelated factors that underlie the problem.
This debate, and others like it that have played out in the media and on campuses around the world, helps to illustrate the wide range of challenges and opportunities at hand for business schools. To truly make the most of the reflection we must move from dialogue to action. At HBS, we are making changes in the way we teach risk management (without stifling the focus on innovation and entrepreneurialism), reconsidering the oversight responsibilities of directors, and revisiting the kinds of incentives provided by executive compensation packages. We will respond to the expanding interests of our students who are planning careers not only in traditional business settings, but in healthcare and science-based enterprises as well as non-profit and other social enterprises. And as we have seen all too clearly in the past year, we will need to equip our graduates to operate at the increasingly connected interface of business and government on a global basis.
I believe that business schools can and will be part of the solution. We will need to adapt to meet new economic realities and the wide-ranging ambitions of our students. But we should also recognize that the core of our teaching here at HBS will be more important than ever before. We will help students see the big picture and anticipate the impact of their decisions as well as offer them a deeper understanding of the financial crisis through the daily classroom interactions that are the signature of the case method - with an emphasis on framing the issues and asking the right questions as opposed to simply giving the right answer. We will continue to do research that is close to practice to get to the heart of what caused the crisis. And we will recommit ourselves to teaching the principles of sound judgment, values and ethics, and leadership.
I am grateful for the positive discussion that has emerged from this forum; energized by the evident passion for leadership education; and committed, with you, to ensuring that business schools, and Harvard Business School in particular, play our role in shaping the future of management education to meet the needs of a new century.
Click here for the article of CNN Money, April 13, 2009.
(breakingviews.com) -- It's already April, and business students would
normally be weighing which investment bank's job offer to take. But
this year's crop of MBAs faces bleak prospects - for the same reason
it's hard to place new asset-backed debt. A shrinking and cautious
finance industry means lots of already seasoned assets - including
people - are available at cheap prices.
There is a bright side. The number of students wanting to work on Wall Street reached historic highs before the bubble burst. Just shy of half of Harvard's MBA crop last year went into finance.
The hotter areas now, according to the universities, are venture stage businesses, the energy sector and overseas firms. Even in these areas, acceptances are down perhaps by a quarter. Regardless, this is probably a better use of talent. Finance, after all, should be an accessory for rather than the engine of wealth creation.
At least, that is, until the next time. MBA classes have a history of piling into expanding bubbles. The few that land banking jobs today will face less competition. When markets rebound, they will be well placed to profit handsomely. A new crop of young and ambitious students with short memories will notice - and a new race to Wall Street could be on.
Click here for the article of BusinessWeek, April 2, 2009.
Globalization has fueled the good times for business schools. Since the 1980s, billions of people have joined the world's market-oriented economies, and massive improvements in the well-being of diverse societies have spiked demand to learn how to market products, become entrepreneurs, and lead organizations. When properly done, an MBA education provides deep insights into how organizations work and the nature of competition.
For business schools themselves, the good times have meant more money—tuition increases have exceeded inflation for each of the past 27 years. More students have gained entry into management education through a somewhat odd mix of schools, ranging from high-end universities deciding that they couldn't do without a business school to stand-alone entrants in hot spots around the world. The number of new business schools is so staggering that accreditation agencies have only a rough handle on the 10,000 schools now operating throughout the world.
Will the good times come to a screeching halt for management education? Yes. Partly because...
Click here for the article of The Times, March 25, 2009
Entrepreneurship has become the second most popular specialisation at leading business schools after finance, according to the latest Top MBA Applicant Survey. Some 27 per cent of MBA applicants would like to run their own businesses after graduating.
Many business schools offer electives on the subject, while there are a wealth of initiatives to encourage any student with a bright idea to test it out and carry it through. In America, Stanford, Wharton and Harvard are leaders in the field. In Europe, IE Instituto de Empresa, Insead and London Business School are investing in promoting start-ups and linking students with venture capitalists...
Click here for the article of Paul Danos on Reuters, March 11, 2009
"Paul Danos is the dean of the Tuck School of Business at Dartmouth College. The views expressed are his own" (Reuters Great Debate)
A major question in the government response to the banking crisis is choosing between the “evils” of nationalization of banks that would however provide stability, versus the “benefits” of saving of the private banks that would innovate and compete in a market system.
As the dean of the Tuck School of Business I’m privileged to speak with a wide range of economists, bankers, Wall Street executives and our own students, and what I’m interested in is finding an answer somewhere in the middle ground:
* First decide what major businesses absolutely need in banking services and then set up a ‘facility’ to assure that that those prime banking services will be available. This facility would initially be owned by the government but with an explicit goal of going to full private ownership as soon as feasible.
* Make that facility a separate legal entity from private banks.
* Let the private banks operate these “franchised” facility under close scrutiny.
* Have a process by which the private banks ultimately benefit from the operations of the ‘facility’ by having them acquire an increasing ownership in them.
* Though managed by private banks after absorption, the facilities would remain legally separate.
The trick is to be able to absorb the facility into the private banks after the crisis and not along the way destroy the private banking system as we know it, which means that the private banks must seen as benefiting from the scheme. To the extent that the facility does well, the banks would benefit in that they would have the ultimate ownership; and if the facility does poorly the government would have to absorb the losses, at least in the initial stages.
If the government did set up an initial $200 billion facility it could then be leveraged to say $2 trillion in loans. The “good” facility would be available to all companies for a limited list of transactions for the duration of the crisis, with say a minimum of five years. We could then let the markets settle the bad assets issues in the private banks. Some would fail and some would survive.
After the absorption of the facility the resulting private banks would have two parts, one highly regulated that would provide on-going assurances to the business community, and one relatively unregulated that would allow innovation and society would glean whatever benefits we are supposed to get from that kind of activity.
The government would over time get compensated by the investments made by the payment for the ownership of the facilities.
The annual Horizon Report (367KB) describes the continuing work of the New Media Consortium (NMC)’s Horizon Project, a long-running qualitative research project that seeks to identify and describe emerging technologies likely to have a large impact on teaching, learning, research, or creative expression within learning-focused organization
When I ask my colleagues about the main challenges our schools face today many point at the attraction, development and retention of good faculty as one of the most serious. Indeed, today schools compete to attract those scholars who combine the best credentials in research with solid teaching skills and who also interface with the top management of respected companies. I have sometimes refer to these well-rounded academics as “kangaroos”, as opposed to “gurus”, because the former are able to jump from research to class to consultancy in large corporations, performing excellently in the three facets. Let me now further elaborate on this multifaceted type of academics by opposing two models of faculty, which I will name “Humboldtian Faculty” and “Mavens”.
“Humboldtian Faculty” was moulded at the eponymous institution in Berlin in the early Nineteenth Century and has inspired the model of academic prevalent at all Western universities in the past two hundred years. Wilhelm Von Humboldt believed that, in order to make a significant leap in the sciences and in the humanities, the career of academics should become specialised –until then, university professors may teach different discipline- and universities should be organised in schools and departments. A number of consequences for the academic profession followed over the decades and I summarise some of these features in the chart included below.
The Humboldtian Faculty model has rendered many positive results. Knowledge has experienced an unprecedented advance across the board. At the same time, a significant number of education analysts and scholars have warned about some undesirable effects of the model such as the “silos syndrome” derived from an extreme specialisation and lack of integration of both academics, teachings and research at large.
In addition, the demands from stakeholders, the formidable impact of technologies in the learning process and the origination and distribution of knowledge are transforming the role and the ideal profile of scholars. I believe that the concept of “Maven”, widely popularised by Malcolm Gladwell in his book “The Tipping Point”, can adequately illustrate what is expected from business schools’ professors today. Mavens are active gatherers of new trends, ideas and data and have the key skills of identifying which of them may transform the world.
Furthermore, they exercise the necessary influence to have these ideas diffused through other major opinion makers in society –whom Gladwell calls “connectors” and “vendors”. I include a number of characteristics of faculty as Mavens in the chart below. I hope this idea contributes to a constructive debate on how to better shape the academic profession and adapt it to current changes and demands. I do not believe that I am proposing a revolutionary change, but rather an evolutionary but significant adjustment of the role that faculty play in the modern learning process.
Every other year, the vibrant city of Shanghai becomes the venue of several major management education conferences arranged sequentially in one week. These conferences -organised, respectively, by Antai Business School, EFMD, AACSB and APBS - congregate a good sizeable number of scholars, business school officers and corporate managers, particularly from China and South East Asia.
This year, the Antai Conference –the first of the weekly intense networking events- focused on the social responsibility of business schools and I was invited to speak at the opening session. Normally, when I address issues related to business ethics or social responsibility I try to avoid the overselling of my school. I believe that if I would speak profusely about the different initiatives related to social responsibility at IE Business School I could be compared to those individuals who show off when practicing charitable deeds. In this respect I find pertinent the popular quote from the Gospels that says “when you do a charitable deed, do not sound a trumpet before you as the hypocrites do”.
Indeed, social responsibility initiatives should not be merchandised as communication or marketing tools by business school representatives. What is decisive is that those initiatives permeate the curriculum and the experience that students learn and live. Actually, students themselves should be the ones who testify if their schools and professors have influenced positively their views and lives. After all, educating is about moulding better persons, good citizens, promoting good habits and behaviour, isn´t it? If the MBA is a transformational experience, and participants learn new knowledge and acquire new skills, they should also be encouraged to improve their ethical attitudes and their business deontology. For those who may be still sceptical about the teaching and the learning of business ethics at business schools, or those who may hold the Freudian thesis that individual ethics is formed in early childhood and unchangeable afterwards, I recommend the classical and stimulating book “Can Ethics Be Taught”.
When I am asked summarily about what is the social responsibility of business schools, like I was at this Shanghai conference, I respond with a simple statement: It is nothing less than preparing leaders, managers & entrepreneurs who transform the world. Interestingly, Francis Estrada, Dean of the Asia Institute of Management in Manila, who made a very interesting presentation after mine, formulated a very similar statement.
My presentation, which you will find in the PDF attached- covered three main challenges that business schools managers have to face if they aim at achieving their social responsibility goals. First, choosing the strategic group that better suits their schools in the global context. Second, the role of business schools in the new knowledge value chain. And thirdly, the ideal profile of the faculty in order to achieve the intended results in the learning process. Many thoughts delivered at the Shanghai conference have been previously shared with the readers of this blog and I thank them for their valuable comments.
“Education is not the filling of a pail, but the lightening of a fire”, a favourite and evocative quote from the Irish poet William Butler Yeats You may disagree with me, but I hope you will acknowledge the passion for education that I try to convey in my addresses.
Which business schools have the best admissions Web sites? We looked at the Web sites of BusinessWeek's
top 20 business schools to determine which were a challenge to navigate
and which flowed smoothly and intuitively. To do this, we selected five
important pieces of information every prospective MBA student would
likely be looking for: application deadlines, a list of application
materials, the admissions director's name and contact information,
financial aid information, and a description of the curriculum. Then we
timed how long it takes to locate that information on each site.
Not surprisingly, results varied widely. Some sites slowed the user down with small or low-contrast typefaces. Others created delays by burying one piece of critical information, such as an admissions director's name, deep in the site. Most had sophisticated graphics and images, and attractive designs. But the schools that shone were the ones who created the simplest, most straightforward experience. After all, most visitors to a B-school Web site know what they're looking for and would rather find it quickly than be wowed by snazzy visuals. Our results follow, ranging from easiest to hardest to use.
Click here for Economist Intelligence Unit 2008 MBA rankings, Friday 26, September 2008.
IMD - International Institute for Management Development
|IESE Business School - University of Navarra||2|
|Chicago, University of - Graduate School of Business||3|
|Stanford Graduate School of Business||4|
|Dartmouth College--Tuck School of Business||5|
|California at Berkeley, University of--Haas School of Business||6|
|Cambridge, University of - Judge Business School||7|
|New York University - Leonard N Stern School of Business||8|
|London Business School||9|
|IE Business School||10|
|Hong Kong University of Science and Technology -- School of Business and Management||11|
|Harvard Business School||12|
|Cranfield School of Management||13|
|Vlerick Leuven Gent Management School||14|
|York University - Schulich School of Business||15|
|Northwestern University - Kellogg School of Management||16|
|Pennsylvania, University of - Wharton School||17|
|Massachusetts Institute of Technology - MIT Sloan School of Management||18|
|Henley Business School||20|
|Columbia Business School||21|
Click here for the original Press Release from the Tuck website. September 12, 2008
CONTACT: Kim Keating, 603-646-2733
HANOVER, N.H.—Deans from top international business schools recently gathered to discuss the current and future state of management education in China. The event was the latest in a series of roundtables held around the world and organized and moderated by Paul Danos, dean of the Tuck School of Business at Dartmouth, and Santiago Iñiguez, dean of Instituto de Empressa. The assembly was hosted by Deans Weijiong Zhang and Rolf Cremer of CEIBS in Shanghai. Other deans in attendance were Leonard K. Cheng of HKUST Business School, Yu-Sheng Zheng of Cheung Kong Graduate School of Business, and Xiongwen Lu of Fudan University.
"Globalization is changing business education just as surely as it has changed international business," says Danos. "These roundtable discussions have been a valuable tool for comparing regional business school models and ensuring that our MBA programs reflect the realities of the modern marketplace."
Deans from more than 25 schools around the world, senior faculty members, business education reporters, education consultants, and professional development executives from top corporations have joined together for the five roundtable sessions held to date.
At the most recent roundtable in Shanghai, the deans spoke about a wide range of topics, including the demand for more faculty and PhD training, government regulations and funding of Chinese business schools, and student work experience prior to starting MBA programs.
During previous roundtables, the deans discussed the unique traits of each region's business education system, compared them with other international models, and discussed the impact of globalization on business schools. For example, in Germany the discussion focused on the Bologna Accord, which has established a model and standards for higher education in Europe. And in Brazil participants discussed how Brazilian schools differ from the U.S. and European models in their standards, curriculum, and degree of focus on faculty research.
Specific experiences and issues ranged from one region to the next, but all five discussions reported that globalization is influencing the curriculum and strategy of today's business schools. Particularly in Europe and China, deans reported that international political entities and NGOs are affecting business education through standards and accreditation. They also noted that market forces are bringing schools closer to corporate partners and highlighting the importance of faculty research. As prospective students consider schools across country borders, top schools must show that their faculty can compete not just within their region but also with schools from around the globe.
This roundtable series is one piece of Tuck's sustained international outreach in recent years, which includes initiatives for Europe, Latin America, and India as well as the Tuck Ambassador Program with representatives in 25 countries.
For more information on all roundtable discussions and conversation on business education, please visit www.deanstalk.net.
Founded in 1900, Tuck is the first graduate school of management in the country and consistently ranks among the top business schools worldwide. Tuck remains distinctive among the world's great business schools by combining human scale with global reach, rigorous coursework with experiences requiring teamwork, and valued traditions with innovation.