Bard MBA I N S U S TA I N A B I L I T Y
Why Bard’s MBA in Sustainability? During your lifetime, you and your generation will rewire the entire world with clean energy, redesign cities, reimagine the global food system, and reinvent transportation. You’ll create tens of millions of jobs, help lift billions of people out of poverty, protect the creatures of this earth, and shape a just and prosperous future. The Bard MBA in Sustainability lays the foundation for this work. — Eban Goodstein, Director, Bard MBA in Sustainability Director, Bard Center for Environmental Policy
A New Kind of MBA The Bard MBA focuses on the business case for sustainability. We train students to see how firms can combine economic, environmental, and social objectives—the integrated bottom line—to create successful businesses that build a more sustainable world. Graduates of the Bard MBA program will transform existing companies, start their own, and pioneer new ways of doing business that will meet human needs while protecting and restoring the earth’s natural systems.
Combining the skills of an MBA graduate with ecological principles, systems analysis, and an understanding of what makes people motivated results in the amazing potential to change the world. Businesses are embedding sustainability goals, objectives, and values in every department. A graduate with an MBA in sustainability can plug in to any business, at every level, and create lasting change. Employers will want to hire that kind of person.
Do you want a job or do you want a calling? A calling is what you can’t not do. Those people with a calling know their place in the world and love it—because they are doing what they were born to do. Have a calling. It’s a lot more fun than a job.
— Elysa Hammond, Director of Environmental Stewardship, Clif Bar & Company
— Hunter Lovins President, Natural Capitalism Solutions
Business leaders of the future need to see the big picture and be multidisciplinary in focus. It’s beyond business as usual, and that’s where the real value of the Bard MBA in Sustainability lies. — Bob Sheppard, Bard MBA Advisory Board
4
About the Program
We’re not coexisting intelligently with nature; the way forward is with corporate leadership. — Robert Fox, Principal, Cook + Fox Architects
the bard difference Building on the College’s tradition of cutting-edge programs and entrepreneurial spirit, the Bard MBA brings a new kind of MBA program to the East Coast. Conventional MBA programs typically offer only one or two courses in sustainability, often as an “add-on” rather than a core component. Progress in sustainable business is challenged when sustainability is an afterthought rather than a guiding principle. The Bard MBA is different.
curriculum The Bard MBA in Sustainability is designed to prepare students for leadership positions—in both innovative start-ups and major corporations—with in-depth knowledge of business through the lens of sustainability. Our curriculum provides grounding in core business competencies with a focus throughout on the integrated bottom line: economics, environment, and social equity. We fully combine the study of business with the study of sustainability. Covering subjects from leadership to operations, marketing to finance, and economics to strategy, our curriculum ensures that students master the business case for sustainability and understand how to align profit with ecological and social mission. Each module topic is addressed in a residency and followed up by online instruction. Full descriptions of the courses outlined on pages 10-13 are available at bard.edu/mba/ program/courses.
5
low-residency structure with new york city as your laboratory The Bard MBA is structured around monthly “weekend residencies” with regular online instruction in between these residencies. Five residencies are held each term: four in the heart of New York City and one in the Hudson Valley. Classes take place over four days, beginning Friday morning and ending Monday afternoon. Students also attend online classes Tuesday and Thursday evenings during the semester.
6
Business education, especially in sustainability, requires a strong hands-on orientation. A key component of the Bard MBA curriculum is NYCLab. During the first year of study, working in small teams, students consult for New York–area businesses, government agencies, and nonprofits. Each team is closely mentored by a faculty member. Second-year Capstone Projects provide the opportunity to take this work further and deeper.
capstone project Working individually or in small teams, students develop a 20-page narrative for a project proposal: a business start-up, an intrapreneurial project in their workplace, a consultancy, research project, or business plan. Students work with an adviser throughout the fall and spring. In the final fall-semester residency, students present their proposals to faculty. Upon approval, students conduct their Capstone Project during the final semester of the program. The connections made in the research and development process will expand students’ networks and provide opportunities for career development, in addition to meeting graduation requirements.
The Bard MBA is a transformative program, founded on ecological principles, and from which people graduate impassioned and wanting to create change. — Elysa Hammond, Director of Environmental Stewardship, Clif Bar & Company
dual-degree option master of business administration in sustainability and master of science The dual degree offered through the Bard MBA in Sustainability and Bard Center for Environmental Policy (CEP) is for students developing careers that combine the skills needed in both policy and business. Students complete the first-year curriculum at Bard CEP in either environmental policy or climate science and policy, then proceed into the first year of the MBA program. The third year of this dual degree is spent enrolled in both programs. Students complete the MBA course work, substituting one class for the CEP Master’s Seminar, while completing a Capstone Project that satisfies the requirements for both CEP and MBA graduation. The internship component of the CEP curriculum is fulfilled through the NYCLab in the MBA program. For more information on Bard CEP, visit www.bard.edu/cep.
7
Bard MBA students will pioneer new ways of doing business and lead us toward a sustainable future. — Eban Goodstein, Director, Bard MBA in Sustainability Director, Bard Center for Environmental Policy
Program Locations new york city campus For the New York City residencies, classes will be held at Bard College’s facilities in Manhattan. New York City, the center of global finance, has a vibrant green business community, including major corporations, innovative start-ups, and committed city and state government agencies. Our location provides unparalleled access to top-notch faculty, including leading business sustainability practitioners. The MBA program also utilizes the city as a laboratory. As noted, first-year students work in teams in NYCLab, our yearlong consultancy for area businesses, agencies, and nonprofits. The program also helps place students in (optional) internships during the summer term after the first year.
hudson valley campus Bard MBA students will attend two retreats each year in the Hudson Valley during a weekend residency. These sessions, in which room and board are provided, enable a deeper focus on the ecological and social foundations of sustainable business.
8
The Bard MBA program’s commitment and dedication to cultivate and nurture future leaders led me to choose it over other sustainable management programs. The innovative curriculum, supportive staff and faculty, and unique location make it a one-of-a-kind MBA program. — Min Zheng MBA ’14
My primary interest in the Bard MBA in Sustainability is the unwavering belief that sustainability as a business model can achieve scalable equitable returns on investments when we begin to view the environment as an asset, as opposed to viewing it as a raw material waiting to be manufactured into usable goods.
— Carlos Rosado Jr. MBA ’14
I chose the Bard MBA for its central focus on sustainability, the creativity, rigor, and robust nature of the curriculum, and the program’s low residency, yet highly interactive approach. I look forward to meeting diverse individuals, learning from a dynamic faculty, sharpening my business and leadership skills, and helping to cocreate the future of business.
— Hilary Corsun MBA ’14
I’m excited to learn to apply my science and policy skills in the business world because I believe that is where the greatest impact can be made. If we are to shift our understanding and use of energy and other natural resources, it must be viable and relevant in the current global economy. I believe that the Bard MBA in Sustainability will allow me to bridge the gap between climate science, innovative technologies, and business as usual.
— Libby Murphy MBA/MS ’14
I chose the Bard MBA program because Bard’s joint MBA in Sustainability/MS in Environmental Policy degree allows me to focus on both sustainable business development and environmental public policy. The opportunity to pursue my graduate education in these relatively new fields at a well-established liberal arts institution in both New York City and the Hudson Valley made my decision an easy one. — Brady McCartney MBA/MS ’14
9
Curriculum TERM ONE
TERM ONE COURSES
Foundations of Sustainable Business
Economics for Decision Making
Leadership I
Accounting & the Integrated Bottom Line
NYCLab
The sustainability paradigm
The evolution of economic thought
From The Republic to The Social Network
Managing and measuring
Build the team
The business case for sustainability
Market fundamentals
Self-awareness; transformative leadership
Causality and management
Stakeholders and Communication
Stakeholders and sustainability
Production theory and market structure
Audience, communication, and negotiation
Internal control and risk assessment
Frames for Decision Making
Topic deep-dives: water, carbon/energy, human rights, and the built environment
Neoclassical and ecological economics
Understanding boundaries; converting challenges into change
Cost behavior and decision making; budget creation and monitoring
Sustainability information
Economics of imperfect information
Millennial leadership
Activity analysis
Orienting
Foundations
September in NYC
M
O
D
U
L
E
S
August in Hudson Valley
October in NYC
November in NYC
The New Information Landscape
December in NYC
10
Two-semester consultancy. Students work in mentored teams.
Curriculum TERM TWO
TERM TWO COURSES Systems Thinking
Firm Costs and Finance
Globalization and Emerging Markets
Political Economy of Sustainability
Finance for Sustainable Business
Business as a living system; the basics of operations
Economic drivers of globalization
Inequality rising & business at the bottom of the pyramid
Fundamentals of financial management; goal of the corporation
Resources and costs
Money and banking
Business history; corporate goals
Capital structure and payout policy
February in NYC
U
L
E
S
January in NYC
Operations I
System Dynamics
Measurement and statistics
Financial systems and fragility
Politics and policy
Valuation
Trends in supply chain management
Global structures
Business and society
Markets for ecosystem services
Tools for sustainable operations
Localization
Ethics and voicing values
Agency theory and governance
M
O
D
March in NYC
Global Regulation and Structures April in Hudson Valley
Distance and Ethics May in NYC
NYCLab
Two-semester consultancy. Students work in mentored teams.
11
Curriculum TERM THREE
TERM THREE COURSES Setting Goals
The Sustainability Advantage
D
Communication and System Design October in NYC
Human Rights and Empowerment
M
Customers and Marketing
November in NYC
Social Media
December in NYC
12
Leadership II
Employees and Organizations
Capstone Proposal
Facilitated retreat weekend to develop career goals / Classes meet for an introductory session
Reinventing industries
Sustainable marketing
Leadership for sustainability
Eyes on the prize
Industrial ecology
Effective communication
Managing change; conflict resolution and negotiation
Human resources systems
Outsourcing and globally integrated operations
The 21st century consumer
Delegation
Employee engagement strategies for sustainability; building organizational congruence
Social media and product design
Social media marketing
Managing millennials; ethics, productivity, and social media
Creating global networks through technology
September in NYC
O
U
L
E
S
August in Hudson Valley
Operations II
3-credit proposal
Curriculum TERM FOUR
TERM FOUR COURSES
Innovation
Strategy for Sustainability
Business Pragmatics
Intrapreneurship
Competition and cooperation
Entrepreneurship: starting a SME
Analytics, complexity, and speed
Strategic frameworks
M&A assessment
Innovation through sustainability
Networks and partnerships
Accessing capital
April in Hudson Valley
Discovery, incubation, and acceleration
Reconstructing market boundaries
Managing intellectual property
Celebrating Success
Radical transparency
Keep finding the path
Continuous personal development
Intrapreneurship & Entrepreneurship
Decision Making: Instinct vs. Data February in NYC
U
L
E
S
January in NYC
Capstone Project
Getting to Scale
6-credit project
M
O
D
March in NYC
The Edge of Innovation
May in NYC
13
Faculty Eban Goodstein Director, Bard MBA in Sustainability; Director, Bard Center for Environmental Policy Rania Antonopoulos Senior Scholar and Program Director, Levy Economics Institute of Bard College James Brudvig Vice President for Administration, Bard College Donald R. Carlson Founding Partner, The Forefront Law Group Alex W. H. Chung Visiting Assistant Professor of Economics and Finance, Bard College
14
Frank Dixon Founder, Global System Change Julie Engerran Director, Deloitte Touche Tohmatsu Limited Carl Frankel Founder, The Bridge Group; Managing Director, The Center for Intimate Arts; Journalist, Green Futures Magazine Peter C. Fusaro Chairman, Global Change Associates Ann Goodman Cofounder, WNSF; President, Telesys; Journalist, GreenBiz.com Elysa Hammond Director of Environmental Stewardship, Clif Bar & Company
Jeff Hittner Adjunct Professor, New York University; Founder, ethikus; Cofounder, 3CS
Gautam Sethi Associate Professor of Economics and Statistics, Bard Center for Environmental Policy
Laurie Husted Sustainability Coordinator, Bard College
Victor Tafur Visiting Professor of Law, Bard Center for Environmental Policy
Sharon Livesey Associate Professor, Fordham Business School Hunter Lovins President, Natural Capitalism Solutions, Inc. Dimitri B. Papadimitriou President, Levy Economics Institute of Bard College; Executive Vice President and Jerome Levy Professor of Economics, Bard College William G. Russell Principal, Transitioning to Green, Inc.
Andrew Winston Founder, Winston Eco-Strategies; Coauthor, Green to Gold Ajit Zacharias Senior Scholar and Program Director, Levy Economics Institute of Bard College
Bard MBA
Admission
I N S U S TA I N A B I L I T Y
The Bard MBA in Sustainability seeks motivated candidates from a variety of academic and professional backgrounds. Our selection committee considers academic performance and proof of quantitative skill, but also takes a close look at our applicants’ statement of purpose, general writing skills, relevant work experience, and faculty and employer evaluations. Applicants are expected to have demonstrated leadership potential, a commitment to business and environmental issues, and an aptitude for graduate study. The Bard MBA program offers competitive merit fellowships to qualified candidates.
prerequisites Because of the interdisciplinary nature of the program, there are no specific requirements concerning the applicant’s prior field of study. Professional experience in the form of jobs, internships, and volunteer commitments is recommended, but not required. Prior to enrollment in August, all students entering the program must have successfully completed college-level courses in algebra, introductory economics (microeconomics or combined macro-micro sequence), and introductory accounting.
2013–14 tuition and fees
admission deadlines
First-Year Tuition: $29,924 Fees: $2,377* Second-Year Tuition: $29,924 Fees: $2,487* *Includes optional health insurance
January 15, 2013: Early Admission March 15, 2013: Regular Admission May 15, 2013: Final Admission
Bard College, Annandale-on-Hudson, New York Phone: 845-758-7388 Fax: 845-758-7636 Email: mba@bard.edu Website: www.bard.edu/mba
The provisions of this catalogue are not to be regarded as an irrevocable contract between the student and Bard College or its officers and faculty. The College reserves the right to make changes affecting admission procedures, tuition, fees, courses of instruction, programs of study, faculty listings, academic grading policies, and general regulations. The information in this catalogue is current as of publication, but is subject to change without notice. Photo credits: Cook + Fox Architects: cover; Brett Patterson/ Black Star: inside front cover; Hunter Lovins: 4; Elysa Hammond: 4; Bob Sheppard: 4; Cook + Fox Architects: 5; Bard MBA: far left and second from right, 6; Robinson Noble: second from left, 6; Nat Brooks: far right, 6; Cook + Fox Architects: 7; Peter Aaron ’68/Esto: 8; Karl Rabe: on right, 9; Bard MBA: all other images, 9.
The Bard MBA in Sustainability Graduate Program Catalogue is published by the Bard Publications Office and printed with soy-based inks by Quality Printing, Pittsfield, MA on 100 percent postconsumer recycled paper, utilizing wind-generated and solar power.
2013 I 2014 Program Catalogue Bard Master of Business Administration in Sustainability