2024 YEAR IN REVIEW
Video:
Babson Executive Education Overview
Driving Transformational Leadership Worldwide
Babson Executive Education (BEE) designs and delivers powerful learning experiences through strategic collaborations to help professionals, organizations, and communities everywhere achieve their goals and drive sustainable, transformational change.
Our world-class faculty collaborate with diverse stakeholders on a wide range of projects. They are in the boardroom of a multinational oil and gas corporation supporting senior executives in transforming the future of energy distribution. They are working with journalists in conflict-ridden areas to strengthen their media organizations against disruption and to prepare for growth. They are collaborating with school leadership to build a strategic vision of the future with a 30-year plan for an all-girls elite private school with over 100 years of tradition. BEE stands apart as far more than a traditional learning and development program provider.
It’s been a remarkable year, marked by our collective efforts to help organizations and professionals navigate through change and disruption, forging exciting new pathways forward. I extend my sincere gratitude to all our campus partners for their consistent support and dedication as we look forward to building on this important work in the years to come.
Sincerely,
Stephen Flavin Executive Director Babson Executive Education
LETTER FROM THE EXECUTIVE DIRECTOR
BABSON EXECUTIVE EDUCATION’S IMPACT IN NUMBERS 1
FY24 REACH
2,265
participants reached, an increase of 14 % year-over-year
Remaining consistent at 58 programs delivered
Flexible delivery with 62 % in person
9 % blended 29 % live online
Programming delivered on all 3 campuses
In-person programming across the globe, from Kuwait to Japan, Kenya to Brazil, and beyond
Serving global organizations with headquarters in Costa Rica, Germany, Israel, Kuwait, Spain, Sweden, Switzerland, the U.K., and more
FY24 FACULTY
70 faculty participating
New faculty collaborating every year, with 10 % of 2024 faculty new to BEE
SATISFACTION SINCE FY20
Overall Net Promoter Score (NPS): 75 (Excellent)
Overall Program Score of 4.7 on a 5-point scale
97% were “satisfied,” rating the program a 4 or 5
Understanding NPS:
Above 0 = Good
Above 20 = Favorable
Above 50 = Excellent
Above 80 = World Class
A FEW OF OUR CLIENTS
14 % of our FY24 clients have been with us for over 10 years.
30 % of our FY24 clients have maintained a relationship with us for 5 to 9 years.
56 % of our FY24 clients have joined us within the last 5 years.
GROWTH
32 % of custom clients are new clients in FY24
FY24 Custom Revenue
64 % represents repeat business
13 % represents growth of current client engagements
23 % represents new client revenue
Over the past 3 years, BEE has secured 39 new clients (average of 13 per year)
RAISING BABSON BRAND AWARENESS
Average of over $1M in annual contributions to the College since FY21, post-COVID, which incorporates an annual marketing spend of over $200,000 focused on lead generation and building Babson brand awareness.
AMPLIFYING BABSON AROUND THE WORLD 2
BEE programs and services facilitate entrepreneurial leadership around the world. This impact creates lasting value for leaders, their organizations, their communities, and the world.
Custom Program Highlights
“Officer Leadership Experience” with The Home Depot (THD)
The Officer Leadership Experience (OLX) is a program for the top 160 leaders at THD, co-delivered with Georgia Tech. OLX helps C-suite, Executive Leadership Team, SVP’s, and Vice Presidents establish higher levels of crossfunctional communication and collaboration. It also provides training in having difficult conversations
and achieving constructive conflict management. Focus is on agile and entrepreneurial leadership with a growth mindset and outward focus on associates and customers. There is an optional individual coaching component where participants can meet with highly specialized faculty coaches to expand on the session content.
We are in the third year, delivering to the remaining VP’s.
THD will partner with BEE to use 2025 as a year to design the next generation of this program. We will continue to impress THD’s most senior leadership with new and expanded content, delving deeper into the key concepts of the current program. This collaboration with Georgia Tech demonstrates the breadth of Babson’s faculty and our ability to be flexible to the client’s needs.
Scott Taylor
Arthur M. Blank Endowed Chair for Values-Based Leadership OFFICER
“Cultivate Small Business” with Santander US
Santander US wanted to combine their commitment to community development with their business mission—procurement of capital to spur development. Together, we created Cultivate Small Business (CSB), a 12-week program offering education, mentoring, and capital grants to help early-stage entrepreneurs build and sustain businesses in the food industry, with a focus on woman-, immigrant-, and BIPOC-owned businesses.
Bradley George Associate Professor of Entrepreneurship
Collaborators
• BEE
• Santander US
• CommonWealth Kitchen
• Initiative for a Competitive Inner City (ICIC)
“Cultivate Small Business” by the Numbers
• Established in 2017
• 600+ entrepreneurs through 2024
• $2.4M in capital grants awarded directly to entrepreneurs through 2024
• 6 cities through 2024
• 180 additional participants supported each year
Throughout the program, we see students develop confidence. Many have been so busy working in the business that they have never been able to work on it. Many have never done a pitch for anything before, and by the end of CSB, they can explain their value proposition and articulate their strengths. Some participants even go on to win external pitch competitions.”
Candida Brush
F.W. Olin Distinguished Professor of Entrepreneurship
Cultivate Small Business Graduation Ceremony, June 2024.
I learned invaluable lessons and major thought-changing strategies. The level of professionalism and content of education was priceless. . . . In working towards the action plan and pitch I was curious as to what an investor may ask. Flipping through Facebook I saw a marketing campaign for the Kevin Harrington Group to do a free commercial for your business. I decided to apply and speak with someone. . . . Four weeks later I received an email letting me know that they researched me and my [food truck] concept, product, and brand and felt we were a perfect franchise model. After a few weeks of back and forth I have signed with their agency and am entering into an incredible opportunity that I would never have done had I not been in the CSB class. I gained the confidence to reach out because of this program.”
Christine Holden Participant Owner, Duke’s Bakery
“FMO Program for Women Entrepreneurs” in Côte d’Ivoire
BEE partners with FIN’Elle and FMO, The Dutch Entrepreneurship Development Bank, to deliver the scalable and localized EMPOW(H)ER program. The program encourages and nurtures entrepreneurial growth by women business owners in Côte d’Ivoire. BEE developed a Train the Trainer program and delivered it together with the EMPOW(H)ER program.
The most recent program in Côte d’Ivoire was modeled after similar programs delivered in Zambia and Bangladesh.
68 trainers and 79 women business owners have completed the program to date.
Patricia Greene
Professor Emerita in Entrepreneurship FMO FACULTY DIRECTOR
After delivering an inspiring session, Vincent Onyemah, Professor of Marketing, gladly agrees to pose for a photo with participants of the Launch and Grow program.
“Launch and Grow” with the Women for Africa Foundation in Kenya
Launch and Grow is a custom entrepreneurial leadership program for Kenyan women run by the Women for Africa Foundation in partnership with BEE and Banco Santander. Participants include both new and experienced entrepreneurs who want to make a social impact. The program includes a one-week intensive course taught by BEE in Boston, as well as a yearlong mentoring process that supports the entrepreneurs in acting on their ideas. The program has been running since 2016, positively impacting over 100 women entrepreneurs.
Mary Gale
Associate Professor of Practice in Entrepreneurship
Babson Fellows Program
LAUNCH AND GROW CO-FACULTY DIRECTOR
We were wired to spend money, not to make money.”
Dayo Aiyetan
Elevate Media Leader
Executive Director of the International Centre for Investigative Reporting (Nigeria)
Leslie Garbarino
Associate Professor of Practice in Accounting and Law
LAUNCH AND GROW CO-FACULTY DIRECTOR
“Elevate” with the International Center for Journalists in 18 Countries
The Elevate program supports independent journalists primarily from war-torn areas of the world, including refugees from Afghanistan. It helps them build a more stable and secure media business to deliver essential news and information to the world. Journalists from 18 countries take four classes with professors from Babson focusing on building a sustainable business model. They also take four classes with experts from Microsoft. At the end of the program, they are eligible to receive over $100K in grants.
The Elevate program is an exciting and innovative initiative, and the faculty and staff at Babson College are looking forward to assisting the diverse world-class participants with their opportunities and challenges to promote a real-time relevant and action-based classroom experience to drive the growth of their businesses.”
Mark Potter Professor of Finance
“WeTHRIVE”
Program for Women Entrepreneurs in the U.S. with WBENC
Babson delivers the WeTHRIVE program in collaboration with the Women’s Business Enterprise National Council (WBENC). WeTHRIVE is a virtual program designed to help women entrepreneurs strengthen their business ideas and grow their early-stage ventures.
Wiljeana Glover
Associate Professor of Operations and Information Management
Stephen C. and Carmella R. Kletjian Foundation Distinguished Professor of Global Healthcare Entrepreneurship
Founding Faculty Director, Kerry Murphy Healey Center for Health Innovation and Entrepreneurship
WETHRIVE FACULTY CO-DIRECTOR
Alisa Jno-Charles
Assistant Professor in Entrepreneurship
WETHRIVE FACULTY CO-DIRECTOR
Every single WeTHRIVE session has been full of valuable insights, and I come away from each one feeling inspired and motivated to take my business to the next level.”
Viola Sutano, Participant Founder, MAIKA
ELEVATE FACULTY DIRECTOR
“10,000 Small Businesses” Across the U.S. with Goldman Sachs
This program helps entrepreneurs create jobs and economic opportunity by providing access to education, capital, and support services. Babson developed the best-in-class curriculum that covers all the fundamentals for growing a business. This is delivered across the country in partnership with over 20 community colleges that have been trained by Babson College.
Babson is known for creating entrepreneurs—the 10,000 Small Businesses program takes people that are already entrepreneurs and gives them the basic business toolkit they need to take their venture to the next level. To see them learn something one week and then come back the next week and say it had an immediate, positive impact on their business is immensely rewarding.”
Richard Bliss Professor of Finance
NATIONAL ACADEMIC DIRECTOR OF THE GOLDMAN SACHS 10,000 SMALL BUSINESSES
Programs for Individuals
Executive Entrepreneurial Leadership Certificate— Online, In Person, or Hybrid
In this action-focused program, participants turn ideas and challenges into opportunities by developing an entrepreneurial mindset and action plan. Participants customize their course list to come away with the practical tools and strategies necessary to have an immediate impact on their specific organization or business. On completion of the program, participants earn a digital verified certificate for their LinkedIn profile and CV, distinguishing them as alumni of Babson’s EELC program.
Working in an industry with mostly men, I didn’t have the opportunity to work with and learn from women leaders nearly as much. For five days [during the optional Leadership Program for Women & Allies course], I was surrounded by phenomenal women leaders, both faculty and students. This course quickly broke down walls I had apparently put up. I didn’t realize how much I needed this course to look at things from a different perspective until I went through it.”
Kerri Hayes
Participant
Ventures Operations
Lead at Raytheon BBN
For me, this program is a great way to be on a path to an end goal. I am a student at heart, so having a curriculum to follow and choosing classes that work for my schedule and life has been incredible. I am now equipped with many more resources, ideas, and strategies to grow my business successfully.”
Jacky Lamenzo Sinha Participant, Lemon House Publishing
To lead effectively in a world in constant flux, you need to build and nurture an ability to think like an entrepreneur. This way of thinking goes far beyond venture creation; it is about value creation for organizations of all types and sizes. It allows you to act under uncertainty while developing and facilitating opportunities. It is good for you as an individual and good for the health of your company.”
Andrew Corbett
Professor of Entrepreneurial Studies
Video:
Wendy Murphy on Entrepreneurial Thinking
Wendy
Murphy
Professor of Management Associate Dean
We need entrepreneurial leaders who bring a relational focus to their leadership and have the capability and collaborative aptitude to unleash human potential and performance.”
Scott Taylor
Arthur M. Blank Endowed Chair for Values-Based Leadership
Open Enrollment Courses
BEE’s open enrollment courses play an important role in supporting both an individual’s development and the talent pipelines of organizations. We regularly add new courses to meet the needs of individuals and organizations. This year we added a course on generative AI. Courses are available in all formats to increase accessibility. Our in-person open enrollment courses average the highest NPS (satisfaction) score, at 83 NPS since FY19 (80 and above is “World Class”). This satisfaction score is coming from individuals from all backgrounds, industries, and countries, and many of them are paying for the course(s) out of their own pocket.
Example topics include:
• Entrepreneurial Leadership
• Mastering Generative AI in Your Business
• Resilient Leadership
• Leadership for Women and Allies
• And more
INNOVATION AND GROWTH MINDSET 3
Innovative Products and Services
BEE’s Business Advisory helps coach organizations through their toughest problems, prioritizing the growth of internal teams to maximize long-term sustainability. This approach blends diagnostics, analysis, development, and advising. This year Business Advisory found success guiding ExxonMobil in identifying opportunities for breakthrough innovation to weather industry disruption and decreasing market shares.
As a result, ExxonMobil attained:
• Domains of Innovation Intent
• Blueprint of a management system to support a Strategic Innovation capability
• Roadmap for ongoing continuous improvement of their Strategic Innovation expertise
In BEE’s engagement with ExxonMobil’s Global Projects company, I supported the client with developing a capability for Strategic Innovation. This involved establishing their Innovation Council and formalizing and training the Strategic Innovation Leadership team. I then facilitated the identification, commitment to, and progression for five specific Domains of Innovation Intent, as well as the development of a scorecard to measure progress. I also addressed turnover challenges and helped introduce strategic innovation roles into their HR system to ensure the sustainability of this capability.
Over time, our partnership evolved, and I supported Corporate Strategy in clarifying the ROI. This has facilitated the continued development and diffusion of Strategic Innovation across other ExxonMobil companies. The client has said our work is ‘sticking’ with them and has made a significant impact. My role as a Business Advisor has been incredibly rewarding. Various ExxonMobil companies now view Babson as a trusted thought partner, ready to help them tackle future challenges.”
Gina O’Connor Professor of Entrepreneurship
Fischer Family Term Chair in Healthcare Management
EXXONMOBIL
FACULTY DIRECTOR
Video: Babson’s Business Advisory
New and Scalable Digital Learning Modules
BEE has introduced a new class of scalable digital learning products to complement our traditional custom programs. These new modules of high-quality, asynchronous content will be instrumental in increasing our average deal size and our ability to impact more total learners in deeper ways. Contributing to a lower overall cost of delivery, this differentiated format allows for the cascading of skills and knowledge throughout a partnering organization.
SkinCeuticals (owned by L’Oréal) was the inaugural client to utilize these modules, supporting the business acumen of their physician network. By supporting physicians in expanding their practices, SkinCeuticals increased business and loyalty to their brand. The program has been a resounding success with succeeding cohorts underway and planned.
BEE continues to innovate on the work done with SkinCeuticals by both repurposing and repackaging the content. BEE continues to receive positive feedback from the market on this offering and is actively pursuing new opportunities with additional prospects and clients.
Uses of the Scalable Digital Learning Modules
• Re-engages prior clients
• Expands current client relationships
• Makes transformational organizational change accessible to more learners
• Provides an onboarding opportunity for new staff to bring their skillset up to speed quickly
The Skinceuticals and Babson experience was incredible for our physician partners. Often, we’re asked how we can contribute to their knowledge outside of product and medical information. This program brought them all of the information they wanted to run their practice better. It’s really helped to solidify our partnership with our physicians and really brings them added value.”
Gabriella Wan Commercial Director SkinCeuticals Canada
Video: Skinceuticals Testimonial
SkinCeuticals wanted to elevate its brand by helping medical professionals grow their practices. The program provides a foundational understanding of the important business concepts needed to thrive as entrepreneurs—and fits into the busy schedules of doctors. It includes asynchronous and synchronous online content.
The synchronous sessions and in-person summit allowed interactive, handson learning and reinforced a sense of community amongst the SkinCeuticals medical partners—and increased brand affinity. The pilot program earned an NPS of 75 (excellent) and garnered comments such as ‘Pertinent, extremely useful and essential business principles that are not taught to physicians generally. Will improve our businesses!’ We are now offering the program to a second international cohort, with a third cohort planned for 2025.”
Mark Carr Assistant Professor of Practice in Management
SKINCEUTICALS FACULTY DIRECTOR
Cross-Campus Collaboration for One Babson
Rapid Innovation Event Series: Faculty, Staff, Alumni, and Community
BEE has launched a free online webinar series to help professionals and organizations future-proof. When Babson Alumnus Michael Ventura reached out to express interest in engaging with Babson, this new series was the perfect fit. Ventura’s session, Leading with Empathy, provided leaders with frameworks and behaviors to help their teams implement empathy in a way that cultivates high performance and successful business outcomes. Other sessions include those on Mastering AI in Business, The Future of Spectacle, and Corporate Social Responsibility: Creating Powerful Solutions in a Time of Political and Business Constraint.
Sessions are run online with Babson faculty, staff, alumni, and business leaders across campuses, cities, and even globally. Presenters share insights, strategies, and innovative technologies during these fall and spring events. Registration is “gated” with a Request for Information form that collects attendee contact information for follow-up marketing purposes.
• 1,004 registrants
• 749 unique registrants
• 432 new leads
Beyond Babson
Beyond Babson is a joint BEE/Alumni Office initiative to present faculty-led executive education sessions to the Babson alumni network. This establishes strong relationships between the faculty and alumni and raises awareness of lifelong learning opportunities at Babson, such as Open Enrollment and Custom Programs.
Beyond Babson events also provide opportunities for attendees, faculty, the Business Development team, and Alumni and Friends staff to network and foster further collaboration. Sessions are scheduled around existing faculty trips to minimize cost and hassle for faculty.
Alumni at the Beyond Babson LA event had the pleasure of joining Gina O’Connor, Professor of Entrepreneurship and Fischer Family Term Chair in Healthcare Management, in a small-group discussion on the topic of “Thinking Forward: Exploring Strategic Innovation In Corporate Careers.” BEE collaborated with the Los Angeles Alumni Club organizers to promote the event and secure the space. Attendees expressed high satisfaction and appreciation of Professor O’Connor for coming to share her insights, deepening the positive relationship between Babson and alumni.
BEE Faculty Advisory Board Committee
Members: Bret Bero, Richard Hanna, Jasmina Hasanhodzic, Gina O’Connor, and Jay Rao
The Committee serves as a consultative body to BEE, offering their expertise to advance BEE’s growth and innovation strategy. Members provide insights into new product and service development, connect BEE to faculty, help evaluate the quality and effectiveness of BEE programming, and assist in securing resources.
Miami Campus
BEE has partnered with Babson Miami to build a program around a keynote speaker event on the Miami campus in FY25. The Entrepreneurial Leadership in the Age of Artificial Intelligence Open Enrollment program, which is run by Erik Noyes, Associate Professor of Entrepreneurship, and Jonathan Sims, Associate Professor of Management, will feature a discussion and keynote titled “Making Old and New AI Work for
Identifying Opportunities Beyond BEE
Your Organization,” with Thomas H. Davenport, Professor of Operations and Information Management and President’s Distinguished Professor of Information Technology. BEE is helping to drive programming around AI in Miami to enrich the entrepreneurship ecosystem of the city and expand the reach of Babson in the executive education space.
This year BEE has made a focused effort to support clients in fully meeting their business needs—even when that means work outside of the scope of BEE. We’ve made many connections and referrals to other departments and institutes within Babson. This benefits BEE and strengthens the overall One Babson brand.
Chatham Hall:
From Babson Advisory to Babson Academy
Chatham Hall originated as a Business Advisory client with Craig Bida, Adjunct Lecturer. Steeped in over 100 years of tradition, this all-girls elite private school worked with BEE to look forward into the next 30 years to build a strategy that redefines success. Through the work they completed together, BEE uncovered that they were also a match for Babson Academy programming. Their relationship with the College continues to deepen and strengthen.
AAA Northeast:
From BEE to Undergraduate Student Consulting Opportunities
In 2024, BEE’s Executive Advisory Board included a senior executive from AAA Northeast. Through their involvement and ongoing discussions, BEE uncovered that their organization would be a good fit for an undergraduate student consulting project. The initial project on branch operations was highly successful and led to an additional project focused on online member experience. Rick Goulding, the John R. Pierog MBA ’78 Term Chair, served as their faculty lead and has played a crucial role in strengthening this client relationship.
Business Advisor Craig Bida enjoying a lunchtime chat with Chatham Hall students.
BUILDING A FUTURE-READY ORGANIZATION 4
Reaping the Benefits of Prior Initiatives
Beginning in fiscal year 2019, we initiated a significant transformation of BEE’s business model and product and service offerings to better meet the evolving needs of our corporate clients.
Key highlights of this transformation include embracing online delivery methods, revamping internal processes to prioritize both margin and client satisfaction, and expanding our service lines. Notably, we launched Business Advisory services to foster deeper, multilevel engagement opportunities with our clients.
Significant milestones on our journey to becoming a leader in lifelong learning.
FY19
Initiated a focus on building out our data and analytics capabilities to ensure our business decisions are informed by available data and analytics like tracking the sales pipeline, client satisfaction, faculty engagement, and partnership progression
FY20
Focused on client success and our ability to work effectively as a team across all departments within BEE
FY21
Focused on solving for the cyclical nature of our business and building a variable workforce that ebbs and flows throughout the year
FY22
FY23
FY24
We have strategically aligned from a process, organizational design, and culture perspective to develop new products and services, enabling us to swiftly capitalize on initiatives centered around innovation and growth:
• Business Advisory
• Corporate Partner Program
• Executive Entrepreneurial Leadership Certificate
• ULM Development and Sales
• Strategic Innovation Tools and Assessments
WHAT LIES AHEAD 5
Strengthening Entrepreneurial Leadership for Individuals, Communities, and Organizations
Babson Executive Education is firmly committed to designing and building transformational entrepreneurial leadership experiences into every stage of the learning journey.
We look forward to playing an integral role in the success of One Babson and the Lifelong Learning strategy that will expand and connect the Babson community across generations.
