The Harvard business Press has published the authoritative, timely, and thought-provoking book ‘Rethinking the MBA’.

The book — authored by Harvard business School professors Srikant M. Datar, David A. Garvin and researcher Patrick Cullen – documents a rising chorus of concerns about business schools, gleaned from extensive interviews with deans and executives’and from a detailed analysis of current curricula and emerging trends in graduate business education.

The authors also provide case studies showing how leading MBA programs have begun reinventing themselves for the better. The book offers concrete ideas as to how business schools can surmount the challenges that come with reinvention, including securing faculty with new skills and experimenting with new pedagogies.

For decades, MBA graduates from top-tier B-Schools set the standard for cutting-edge business knowledge and skills. Now the business world has changed, say the authors of Rethinking the MBA, and MBA programs must change with it. Increasingly, managers and recruiters are questioning conventional business education.

Their concerns? Among other things, MBA programs aren’t giving students the heightened cultural awareness and global perspectives they need. Newly minted MBAs lack essential leadership skills. Creative and critical thinking demand far more attention.

Rich with examples and thoroughly researched, Rethinking the MBA reveals why and how business schools must define a better pathway for the future.

MBAUniverse.com brings to you exclusive excerpts from the book. Today we bring to you the first part of the excerpts from the book:

‘On the one hand, the economic downturn has provided some schools with a temporary respite from the forces buffeting graduate business education. Because MBA programs are often viewed by young people, especially those with few other career options, as a safe harbor for weathering economic storms, business school applications have historically been countercyclical. This crisis is no exception. In its aftermath, applications at the higher-ranked schools rose, although typically in a far more muted fashion than during past recessions, as did the number of takers of the Graduate Management Admissions Test, a likely indicator of future increases in applicants. Mid-ranked schools, meanwhile, have been busy promoting their superior job placements with regional employers and their specializations in energy, brand management, supply-chain management, and human resources as ways of beefing up their applicant pools and class sizes.

These advantages, we believe, while real and possibly significant in the short-run, are likely to be temporary, for most of the other forces unleashed by the economic crisis add to the already long list of concerns and unmet needs cited repeatedly by critics, the trends already underway, and the curricular changes that have been steadily gathering momentum.

Consider, for example, one of the longstanding selling points of leading business schools ‘the access they provide to lucrative, highly selective careers. As chapter 2 notes, students have long come to business school to gain entry to high-paying jobs in investment banking, private equity, and hedge funds. Even before the crisis, our interviewees reported, companies in these fields were starting to shift their hiring away from MBAs. As a result of the economic meltdown, access to these fields has dropped even more dramatically. Many jobs have simply disappeared.

According to one estimate, in the 18-month period ending December 2008, 240,000 people were laid off on Wall Street. Compensation has fallen as well; in some cases, it is now capped by law. To respond to this shrinkage in the financial sector, business schools will have to alter orientations and direction. They will have to attract a new set of recruiters, develop graduates with a different set of skills, and offer a different mix of courses. All are likely to lead to adjustments in business school curricula much like those described in chapters 5 and 6 of this book.

Meanwhile, part-time and executive MBA programs, which fueled much of the growth in business school enrollments in recent years, are currently facing increasing pressure. For many students in these programs, as corporations reduce their support, the economic proposition looks less attractive. business schools are finding that this growth engine, which chapter 2 notes has sustained many programs, especially those in the middle tier, for much of the last decade is beginning to sputter. To attract and retain students, business schools will need to consider changes in curricula that enhance the value of MBA training in ways that are responsive to the criticisms and concerns described in chapter 4.

Increasingly, we believe, business schools are at a crossroads and will have to take a hard look at their value propositions. This was true before the economic crisis, but is even truer in its aftermath. The world has changed, and with it the security that used to come almost automatically with an MBA degree. As a recent report observed: ‘On the nation’s B-School campuses, hope used to spring eternal. No more.’ High-paying jobs are no longer guaranteed to graduates, and the opportunity costs of two years of training’ especially for those who still hold jobs and are not looking to change fields ‘loom ever larger. To remain relevant, business schools will have to rethink many of their most cherished assumptions. They will have to re-examine their curricula and move in new directions.’

A just approved 12-month program offers a master’s degree in business administration from NIU, plus one in international management from the University of Bordeaux, southwest of Paris.

The DeKalb school’s trustees approved the program on Wednesday. NIU is the first U.S. university to link up with the

For three weeks in November, and again in March, the class will travel to Bordeaux to study under French professors and meet with executives in that country.

About 25 students are expected to enroll, including about six from France.

Visit Ross’s daily blog: www.mbascene.wordpress.com

The appointment of new Harvard dean Professor Nitin Nohria (left) with a background in leadership and ethics is a significant appointment, and one that follows a movement I noted in articles some years ago. For the grand old dame of business education to take such a visible move, notifying the world that is has taken on concerns about ethics,  shows a boldness that most people would not necessarily associate with the world’s most conservative school.  In light of recent criticism, such as the Phillip Delves Broughton book “What they teach you at Harvard Business School,” which was a fairly incisive criticism of the author’s perceived ethics of greed at HBS, to numerous articles blaming business schools like Harvard for the recession, HBS has had a harder than usual time at the hands of the public and media lately. Perhaps fairly.

There was ample opportunity for Harvard Business School to ignore the world’s – or at least the west’s – movement towards a more ethical way of teaching business education. There must have been numerous candidates and a sizeable shortlist for the position. Though I am not party to the discussions, I think we can assume the appointment would have caused major controversy within the corridors of Harvard itself with a lot of disgruntled opponents. But the school has stood its ground in light of the bare facts. The typical MBA student, as QS has noted in editorials going back some years, is far more interested in ethics and leadership and corporate social responsibility than ever before. The most recent QS TopMBA.com Applicant Survey  and other research shows that candidates are making their business school choices and MBA graduates their career choices increasingly on perceived ethical standpoints. Harvard could have, but did not, choose to ignore this.

The dean-elect has not begun his work yet and it remains to be seen what changes he will instigate and and how quickly. One can only hope that criticism of his appointment, such as a recent letter in the FT, is based on genuine business fears from the hard-nosed business types who are just as entitled to their criticisms as I am to mine. To me the idea that “Asian business tigers” prowling the Pacific Rim are licking their lips at the utter demise of the American economy due to the appointment seems to me moderate hysteria. Let it remain to be seen whether Harvard turns out “touchy-feelies” from the school and then, even if this is the case, let’s see whether or not such acceptance of modern international and ethical values is such a bad thing after all.

While the GMAT exam is the most common test that business schools accept, more career.com/mba-schools/mba-degree-programs.html” target=”_self”>MBA programs are starting to take GRE scores into consideration as well, according to U.S. News & World Report. Some of the top MBA programs in the country are now beginning to accept the test, which is typically used for graduate school admissions.

The news provider reports that of the 433 MBA programs that they surveyed, approximately 115 of them – or 27 percent – were accepting the GRE.

It may be a good idea for individuals to seek out an MBA degree. According to the Bureau of Labor Statistics, MBAs typically make $221 more a week than those with just a bachelor’s degree.

Pepperdine University’s Graziadio School will host the first of three on-campus informational sessions for the Fully Employed MBA for Business Professionals Program (http://bschool.pepperdine.edu/programs/mba/curriculum/) at the UCSB Mosher Alumni House on Thursday, April 29, 2010. Professionals living and working in the area who are not current UCSB students and graduates are also welcome to attend and learn about earning a Pepperdine MBA degree, general financial aid options and merit scholarships.

“Our student-focused, experience-driven and values-centered MBA program for working professionals complements UCSB’s nationally recognized programs and research in engineering, the sciences, and economics,” said Dr. Linda A. Livingstone, dean of the business school at Pepperdine University. “Alumni who desire to augment their UCSB degree with an internationally accredited and ranked graduate business education will have far greater flexibility in career progression and be much better prepared for success in an increasingly competitive marketplace.”

In the months ahead, the Graziadio School will work with the UCSB Alumni Office to market its Westlake Village-based part-time MBA program through the Association’s channels, as well as facilitate informational events and individual consultations both in Santa Barbara and Westlake Village. UCSB alumni throughout Southern California will also be invited to consider the Fully Employed MBA classes held at the Graziadio School’s other campus locations; Encino, West Los Angeles, and Irvine. Discussions regarding the Pepperdine business school possibly conducting an MBA class in Santa Barbara, as soon as next year, are currently ongoing.

“The UCSB Alumni Association is pleased to collaborate with the Graziadio School at Pepperdine University to strengthen availability to the only fully accredited and internationally ranked MBA program in the area for our alumni,” said George Thurlow, Executive Director for the UCSB Alumni Association.

Pepperdine University’s evening and weekend MBA program for Business Professionals has served Westlake Village for nearly twenty years. The program delivers evening and weekend classes that balance professional and personal commitments for its students living and working in the surrounding community, Ventura County and Santa Barbara County. Additionally, the curriculum upholds the standards set for graduate business education by the Association to Advance Collegiate Schools of Business (AACSB) International, the premier accrediting body for business programs worldwide. UCSB alumni who complete a Pepperdine MBA benefit from close proximity, high academic standards and access to the Graziadio School’s alumni network of more than 32,000 business professionals and executives.

The Graziadio School’s promotion with the UCSB Alumni Association parallels other recent cooperative engagements between the two institutions. The Graziadio School has discussed partnering Pepperdine MBA students with UCSB technologists to explore opportunities to commercialize UC technology discoveries. Currently, a Pepperdine MBA marketing class is working with UCSB researchers who have an innovative drug delivery system and develop recommendations that may lead to new business ventures. The class is part of the Education-to-Business (E2B) Live Case Program (http://bschool.pepperdine.edu/e2b/) which pairs MBA teams with companies to identify new business opportunities. UCSB alumni who enroll in Pepperdine’s Fully Employed MBA program will also have an opportunity to participate in E2B projects.

Additionally, the Graziadio School will partner with UCSB to host a corporate citizenship panel discussion (http://bschool.pepperdine.edu/alumni/events/?trumbaEmbed=view%3Devent%26eventid%3D88975961) on Earth Day, April 22, as part of All Gaucho Reunion celebrations.

For more information on attending MBA informational sessions at UCSB, contact mbabsm@pepperdine.edu or call (888) 339-0109.

About the Graziadio School of Business and Management

Founded on the core values of integrity, stewardship, courage, and compassion, Pepperdine University’s Graziadio School of Business and Management has been developing values-centered leaders and advancing responsible business practice since 1969. Student-focused, experience-driven, and globally-oriented, the Graziadio School offers fully accredited MBA, Masters of Science, and bachelor’s completion business programs. More information found at http://bschool.pepperdine.edu/newsroom/.

businesswire.com

ORLANDO, Fla., Feb 09, 2010 (BUSINESS WIRE) — The Rollins MBA at the Crummer Graduate School of Business today announced that it is offering an advanced management program, called the Key Executive MBA (KEMBA), designed for senior executives and business leaders. The program is modeled on key elements of the most progressive executive MBA programs in the country and is structured to provide an MBA degree through an innovative approach focused on strategic leadership.

The Rollins KEMBA program’s curriculum is team-taught and integrates various business disciplines to give executives a deep understanding of all aspects of business — from accounting and finance to marketing and the global environment — in a way that enables graduates to effect change in organizations and society. The program uses blended learning, and takes advantage of the valued interaction with faculty and peers to emphasize strategic thinking, leadership and global content. This experiential learning, combined with limited class size and focus on real business challenges, enables the development of skills and connections required of executives in times of rapid and significant change.

The Rollins KEMBA program enables students to develop cross-functional problem-solving skills that can be immediately useful to their organizations. It features an interactive online component where students learn the program fundamentals. This knowledge is further applied when students meet once a month, on campus, to engage with professors and peers in a classroom setting. The result is a practical learning experience that makes the most of valuable classroom time and student interaction with high-level peers.

“The Key Executive MBA program at Crummer has been developed specifically to address the skill development needs of today’s business leaders,” said Craig McAllaster, dean of the Rollins MBA at the Crummer Graduate School of Business. “Executives participating in the program will be able to share ideas, learn from their peers and immediately apply these skills to their organizations.”

The Rollins Key Executive MBA program will commence on August 25, 2010. For more information on the Key Executive MBA program, got to: mba.rollins.edu/kemba.

Rollins College

Founded in 1885, Rollins College is Florida’s oldest recognized college, and is consistently ranked by U.S. News & World Report as one of “America’s best colleges.” The College of Arts & Sciences offers full-time undergraduate programs in the liberal arts. The Hamilton Holt School serves the Central Florida community by offering exceptional undergraduate and graduate degree programs during evenings and weekends to students diverse in age, experience and professional development. The Crummer Graduate School of Business is ranked a top MBA program by: Forbes,Entrepreneur and the Financial Times. For more information, go to www.mba.rollins.edu.

SOURCE: Rollins College

For Rollins College
Lisa Langsdorf, 212-651-4239
lisa.langsdorf@fusionpr.com

marketwatch.com

By the My MBA Career Content Team – Find Top MBA Degree Programs

Because an career.com/mba-schools/mba-degree-programs.html” target=”_self”>MBA program teaches students the fundamentals of ethics and leadership in business, the MBA degree is prevalent among executive position holders.

A number of successful chief executive officers (CEOs) hold MBAs, according to BusinessWeek. This trend could be an indication that companies seek individuals who take the extra initiative to further their education and gain more knowledge in the field.

The news source examined more than 1,100 CEOs from around the world and looked at their education background. Although less than one-third of the executives held MBA degrees, it was noted that graduates from an MBA program placed 40 places higher in ranking in terms of success.

Additionally, half of the top-10 ranked CEOs had attended business school in pursuit of an MBA, leading the authors to believe that an MBA degree may help in performance.

BusinessWeek asserts that many companies view MBAs as a favorable degree, which could potentially make it more likely that an MBA will be hired over a bachelor’s degree holder.

Reports show that MBAs also have a higher chance of becoming employed. According to the Bureau of Labor Statistics, the unemployment rate for MBAs is at 2.4 percent, whereas bachelor degree holders have a 2.8 percent jobless rate.

mymbacareer.com

MALIBU, CA — 02/22/10 — To apply in Round Three or not to apply in Round Three? That is the question facing many business school applicants as this year’s MBA admissions cycle nears its conclusion. In an effort to help prospective applicants make appropriate Round Three application decisions that result in the highest likelihood of admission, Veritas Prep, a leading MBA admissions consulting firm, today released the commentary of admissions directors from elite business schools detailing their perceptions of Round Three and the applicants therein.

“Many students mistakenly assume their chances of admission are significantly lower at the later stages in the admissions cycle,” explains Scott Shrum, Director of MBA Admissions Research at Veritas Prep. “The following sentiments, captured through recent proprietary research conducted among admissions directors from top schools, reinforce our advice to prospective Round Three applicants and underpin the notion that thoughtful, compelling applications will stand out at every stage of the admissions cycle.”

– Applying in Round Three is not a bad idea, but rushed applications in Round Three are. Many “last-round” applications are also “last-minute” applications. Unsuccessful late applicants often attribute their results to Round Three when, in reality, their applications were rushed and therefore ineffective. “Last-minute applicants give Round Three a bad name,” explains one Director of Admissions. “The majority of Round Three applicants are well-prepared and have compelling reasons for applying later in the admissions cycle, and we review each application starting from the assumption that the applicant will be strong.”

– Applicants are often overly pessimistic about their chances in Round Three. While applicants have come to see applying in Round Three as somewhat of a MBA admissions death sentence, admissions offices try to communicate that great applicants are often accepted in the late stages of the application cycle. “I suspect that potentially good candidates do not apply because they are overly pessimistic about their chances for admission,” says another Director of Admissions at a top-ranked business school. “As always, however, the successful late-stage applicants have taken sufficient time to submit a well-crafted application.”

– Students are waiting longer to apply in general, meaning more Round Three applicants. Given the uncertainty in the market, top schools have found that many applicants are waiting longer before making big decisions like what job offer to accept and whether or not to go to grad school at all. “We believe that accepting applicants in later stages gives us an advantage in attracting applicants who want to wait for legitimate reasons,” explains a leading MBA program’s Admissions Director.

– Some schools are more open to Round Three applicants than others. Policies for evaluating late-stage applicants vary by school; in fact, some top MBA programs have gone on record saying that applicants are better off applying in Round One or Two. “I think we are more open to Round Three applicants than other schools are,” comments one Director of Admissions on their institution’s approach. However, another Admissions Director at a different top-ranked MBA program concedes that applying in Round Three poses heightened risk at their institution. “We can usually find room in the class for strong applicants, regardless of the application stage,” he explains. “Although it does depend on space, which is what makes Round Three significantly riskier from an applicant’s perspective.”

– Round Three allows U.S. schools to compete for top students with international programs. At many leading international MBA programs, the admissions deadlines are significantly later than at top U.S. schools. “We compete for applicants not only with U.S. schools, but also with schools from around the world,” explains one Admissions Director. “We want great candidates to also consider our school, and not just apply to international programs because that is their only option at the later stages of the admissions cycle. And that means competitive schools must be open to March applicants.”

“Round Three is a melting pot of attractive applicants with legitimate reasons for waiting to apply, as well as last-minute applicants who — whether due to poor planning or unforeseen circumstances — hastily throw together ineffective applications,” continues Shrum. “The key takeaway for a prospective Round Three applicant is that great candidates can be admitted in the last round, but their applications must effectively position their candidacy to rival those of applicants admitted in Rounds One and Two.”

For more information about Round Three application strategy or for assistance in creating a compelling Round Three application, contact Veritas Prep at 1-800-925-7737 or visit http://www.veritasprep.com/mba/.

About Veritas Prep

Veritas Prep is the world’s largest privately-owned GMAT preparation and admissions consulting provider, offering industry-leading programs to help applicants improve their test scores and gain admission to the world’s best graduate schools. Founded in 2002 by graduates of the Yale School of Management, Veritas Prep now offers live GMAT prep instruction in more than 80 cities worldwide, as well as interactive online courses available everywhere. Additionally, Veritas Prep offers industry-leading admissions consulting services for applicants seeking admission to the most competitive business schools, law schools, and medical schools in the world.

Contact:
Lisa Weiner
303 433 7020
Email Contact

The Anderson School of Management is hosting an open house for anyone interested in pursuing a Master of Business Administration degree. The informational open house will be held on Tuesday, March 2, from 5:30 – 7:30 p.m., in the Jackson Student Center located just west of the Anderson School on the UNM Campus.

Anderson faculty and advising staff will be on hand to answer questions and explain the ten different MBA concentrations offered by the Anderson School. Participants can find out more about entrance requirements and everyone who attends the open house will receive an “Application Fee Waiver” form. Prospective students can turn in the form with their application to waive the $50 Anderson application fee.

Anderson’s Full-time MBA program is ideal for those with a non-business undergraduate degree who are looking to begin or advance a managerial career. The 22-month program focuses on building fundamental business skills while still allowing students to specialize in one or more areas. For more information about Anderson MBA programs visit mba.mgt.unm.edu/future.

Free parking is available in the lot to the north of the Anderson School on a first-come, first-served basis and additional parking can be found in the structure next to Popejoy Hall or at paid meters along Las Lomas.

Harvard Business School is the place where the chief executive officers, hedge fund stars and Goldman Sachs partners of tomorrow learn their craft. Now, in a break from tradition, a new course is focusing on the troubles of everyday consumers.

Consumer Finance, as it is known, will look at topics ranging from the best ways to boost the savings rate to how banks can deliver better products for low-income customers. Instead of proceeding along the conventional HBS path and delving into corporate case studies, students will focus on the financial lives of real middle-class families. In one exercise, they create a budget for a Boston family of average means, figuring in costs for such everyday staples as food, transportation and insurance.

“By the time our MBAs graduate, they will have looked at financial statements for hundreds of companies,” said Peter Tufano, the professor who teaches the course along with Howell E. Jackson, a faculty member at Harvard Law. “Other than in our course, they would have never looked at the financial statements of a single household.”

via www.Forbes.com