CEO Magazine: Volume 4 by CEO Magazine

ExecutiveMBA MBA University University of Executive ofZurich: Zurich: Cutting-edge.Practice-related. Practice-related. Comprehensive. Cutting-edge. Comprehensive. Executive MBA University of Zurich:

„The part-time Executive MBA Program for Executives at the best German-speaking Faculty of Economics and „TheBusiness part-time Executive MBA Program for Executives at the best German-speaking Faculty of Economics and Administration“ (Social Science Research Network 2011) Business Administration“ (Social Science Research Network 2011)

Cutting-edge. Practice-related. Comprehensive.

„The Executive MBA Program forUniversity Executives at theThe bestProgram German-speaking Faculty of Economics and Thepart-time Executive MBA Program of the The MBA Program of theResearch University Theworking Program Business Administration“ (Social Network 2011) of Executive Zurich offers upper levelScience executives _For professionals ofcutting-edge, Zurich offersadvanced upper level executives _For working professionals interdisciplinary _Internationally focused

cutting-edge, management training. Itinterdisciplinary particularly focuses The Executiveadvanced MBA Program of the University onZurich a modern andupper comprehensive view of management training. Itlevel particularly focuses of offers executives management problems and on intercultural on a modern and comprehensive view of cutting-edge, advanced interdisciplinary managementproblems topics. It management and on intercultural management training. particularly focuses management on a moderntopics. and comprehensive view of management problems and on intercultural management topics.

_Internationally _Located in Zurich,focused Switzerland – The Program a center of and finance – _Located in business Zurich, Switzerland _For working professionals _Courses andand English a centerinofGerman business finance _Internationally focused _Duration ofZurich, 18 months _Coursesin in German and English _Located Switzerland – _Start every August _Duration 18 months a center ofofbusiness and finance

_Start every Augustand English _Courses in German Study Visits _Duration of 18 months _Yale University, School of Study VisitsAugust _Start every Management in New Haven (USA) _Yale University, School of _Fudan University, School of Study Visits in New Haven (USA) Management Management in Shanghai (China) _Yale University, School of of _Fudan University, School _Hyderabad (Indien) Management Haven(China) (USA) Managementin inNew Shanghai _Fudan University, School of _Hyderabad (Indien) Management in Shanghai (China) _Hyderabad (Indien)

Visit our website or order our course brochure: T +41 (0)44 634 29 87 | info@emba.uzh.ch | www.emba.uzh.ch

Visit our website or order our course brochure: T +41 (0)44 634 29 87 | info@emba.uzh.ch | www.emba.uzh.ch Visit our website or order our course brochure: T +41 (0)44 634 29 87 | info@emba.uzh.ch | www.emba.uzh.ch

Contents

Contents 06 Can Business Schools Rescue Business?

Gerard van Schaik

10 MBA Review

CEO Magazine

14 The Corporate Perspective

Jason Price

17 Whartonâ&#x20AC;&#x2122;s New Family Business

Fellows Program

The Wharton School

19 TThe ake a Swing at This: Worldâ&#x20AC;&#x2122;s Jazziest Institution, The Fordham MBA

Dr David Gautschi and Dr Francis Petit

24 Concordia: A Transformational Experience

Anne-Marie Croteau

28 Georgia on my Mind

Dr Ronald E. Shiffler and Dr Joseph Bocchi

32 The London Business School Experience

Jean-Christophe Bedos

35 The Forward-Thinking MBA

Susan Balint CEO

Contents

63 37 Zurich Calling

47 International to the Core

CEO Magazine

38 Tomorrowâ&#x20AC;&#x2122;s Business Leaders

Andrea Schenker-Wicki and Mario Ramo

42 University of Zurich: Student Perspectives

Marcus Gerl, Markus Borkenhagen and Marc Siegenthaler

44 Transformational Leadership

Prof. Andreas Fischer

45 The Business School of the Future

Peter Lorange

50 The Pforzheim MBA: Education at the Edge of the Black Forest

CEO

Rudi Kurz, Harald Strotmann and Matthias Kropp

54 Set up by Industry for Industry: MBA at the Nordakademie

Dr Gert Schmidt

56 The Globally Responsible MBA

Dr Jonathan Black-Branch

61 The Hanken MBA: A Holistic View

Dr Bert Wolfs

Annika Vatanen

“ Put simply, you cannot be a leader without followers.” ROB GOFFEE, PROFESSOR OF ORGANISATIONAL BEHAVIOUR AT LONDON BUSINESS SCHOOL Sloan Masters in Leadership and Strategy Develop the skills and strategic perspective that senior managers need to lead organisations, drive business growth and become truly effective leaders. The next intake of this full-time, 12-month programme is January 2011. Find out more by attending an information event at our London campus where you can speak with admissions staff, students and alumni. Visit www.london.edu/sloan/ or call +44 (0)20 7000 7500

L710227_SloanAd_297X210.indd 1

15/10/2010 13:54

Contents

63 Building on Over 250 Years of Educational Excellence

Dr Tawfik Jelassi and Alon Rozen

67 Local Expertise, Global Reach

Jordi Diaz

69 Built on Solid Ground

Jorge Farinha

73 The Gateway to Graduate Studies in Portugal

José Ramalho Fontes

75 An MBA at the Gate to Asia

Zeynep Gürhan-Canli

77 We’re Coming to Get You: The MBA Programme at UACS

Amadeus Finlay

79 Blazing the Balkan Trail: The MBA at UACS

Dr Marjan Bojadziev and Dr Nikica Mojsoska-Blazevski

83 Off the Beaten Track

Federica Montecchi

85 Shaping Graduate Studies in Cyprus

Cyprus Institute of Marketing

88 List of Contributors 77

CEO

Contents

All rights reserved. No part of this publication may be reproduced without the expressed approval of the copyright owner. Whilst every effort has been made to ensure the accuracy of the information in this publication, the Publisher accepts no responsibility for errors or omissions.

CEO Victor J. Callender COO

Mark J. Phillips

Editor-in-Chief

Amadeus Finlay

Financial Controller

Robert Exner

Head of Production

Steven Whitaker

Head of New Media

Silvio Ferrero

Head of Research

David White

Creative Director

Will Dobson

Published by the Callender Media Group Head Office: 8 Lombard Road Wimbledon SW19 3TZ UK Anuncio CEO ingles.ai 1 20/09/2010 18:37:14

The Publisher disclaims responsibility for the views and opinions expressed herein by the contributors. Furthermore, the Publisher does not give any warranty regarding the accuracy thereof.

For further information on annual subscription rates and benefits visit: www.callendermedia.com

Telephone: +44 (0) 870 067 2077 (UK) Fax: +44 (0) 870 067 2078 (UK) Email: editorial@cmweb.co.uk Web: www.callendermedia.com

Price per issue, including web access: ÂŁ40.00 | â&#x201A;Ź60.00 | $73.00

EFMD

CAN BUSINESS SCHOOLs

RESCUE

BUSINESS?

Did business schools cause the economic crisis? No, says Gerard van Schaik, but they have a key role in determining what comes next

e are in a global economic mess and we know it is man-made. If we want to get out of the present chaos we will have to manage it ourselves; nature will not do it for us. Crises come and crises go and during any period of insecurity there is invariably an outcry for “change”; change to the law, the rules, the system, our behaviour – you name it. From all quarters of society come suggestions for what should be done to lead us back to our previous affluence and success. We see a lot of opportunistic patchwork, not well thought-through legislation, regulation and restructuring. There is a lot of “quick fixing” done so change will mostly be superficial and of a temporary nature.

CEO

Having spent my active life in the corporate world I dare to say that approach is partly explained by the fact that line managers – who take the operational steps in organisations – are in general quickly bored with lengthy analyses and time-consuming research. Moreover, the present generation of managers has been educated to act fast, to “diagnose and cure” quickly using sophisticated toolkits and is conditioned to go for optimal results (both for the business and for themselves) in the shortest period of time. The call for change is also heard in the world of business education. Business schools ask themselves what the impact of the ongoing crisis is on their own future and the products they bring to market. Self-reflection is positive. It is very necessary that the academic world looks hard at what it is doing from time to time and probes whether there is cause for revision or drastic overhaul of programmes. I am convinced, however, that the outcome of this process will not be that the knowledge and skills acquired at business schools inevitably produce managers who are doomed to create the type of mess we are now in. Fortunately, we know that is nonsense. If it were not we would be in a sorry state and schools would have a serious problem. Much of what has happened in the recent past has to do with dishonesty and immorality. Business schools cannot be blamed for unknowingly having trained and educated a limited number of crooks among tens of thousands of honest, incorruptible managers. What they could ask themselves, however, is whether they are inclined to sometimes too easily accept as a given the business fads and fashions of the day . Indeed, they may even wonder if they actually help to develop them further

EFMD

The relationships that are cemented with students of executive development programmes should be used to exchange mutual experience, knowledge and research to discover how the spectrum of the school can be widened and its role in the business world can be enhanced.

without properly researching where it might ultimately lead. Taking the recent past, one can think of such trends as shareholder focus, reward systems, financial product development and others. I am not in a position to judge what action business schools should take to better serve their customers (their customers being society as whole not just their students) in years to come. I feel that reputable schools around the world have served business and public institutions well in the past and supplied the type of managers business asked for. The crazy excesses that we saw (and still see in some quarters) in management behaviour such as large scale fraud, environmental crime, exhibitionistic remuneration and so on are not the product of management education but of the business community itself. If you introduce business philosophies that focus on shortterm gain and then link them to pay packets that benefit from inflating financial results you should not be surprised that some characters will use every trick in the book to foster their own wealth. If social control on such behaviour is virtually nonexistent it is just a matter of time before things blow up in your face. Codes, rules and regulations may make it more difficult in future for people to behave excessively in this respect but will not prevent it. During the last decade the shareholder was the idol that had to be served unconditionally as the sole owner of the corporation. Although this

is legally true, we all knew that with this approach business created its own problems. The shareholder is the least faithful of stakeholders in a company and are in nine out of 10 cases corporations or institutions that strive to maximise their own profits. They are interested in share value and dividend and not in the market position or strategic direction of a company they invest in. If they can do a better deal somewhere else they move out, not caringa dime what the long-term consequences are for the corporation when they say goodbye to it. Although the negatives of abandoning the stakeholder approach and the beatification of the shareholder were already publicly noted in the early 1990s it took two crises before the focus on stakeholders – shareholders being one of them – was actively reintroduced in business schools.

In 2000 the concept of global social responsibility was launched, highlighting the fact that the manager of the future would have to consider the strategies and actions of his or her corporation or division in a societal context and not only on a company or industry basis. We are almost 10 years down the road and we are still discussing how the idea should be made operational both in teaching programmes and at a corporate level so that it does not become just a “show” chapter but an integral part of the business plan. Although it is now – thanks to the crisis – generally accepted that social responsibility is a core focal point in business a great number of business schools seem to have missed an opportunity to take a lead by being too slow on the uptake. Business life has always known many “fads”. In my active corporate life we have had the period in which production was core, then marketing, financial control, logistics, human resources – each discipline got its turn in prominence. Consultants and business schools were quite often the in stigators of the temporary focus on a certain discipline. But at a certain moment the financial discipline started to overshadow everything. In the process corporate “money ‘became an “objective” instead of a “means”and it still is. If one wants to judge the role of business education in these developments one can ask the question whether business schools have been close enough to their customers to be able to influence or criticise thinking or have they limited themselves solely to their student body? Have they tried to be a counterweight in situations where in their view corporate policies and government actions in general were to the detriment of the long-term welfare of society and the business community?

– The year the concept of global social responsibility was launched, highlighting the fact that the manager of the future would have to consider the strategies and actions of his or her corporation or division in a societal context. CEO

EFMD

Most people would say this is not the mission of a business school. It should just deliver welltrained managers who are sensitive of the place in society of the entity they are serving. I think the latter view is narrowing the field of responsibility of a business school too much. But how far the business school community should go in trying to participate actively in the operational implementation of the social responsibility concept in the corporation or a public institution is for me an open question. I think they should try to play some role in future through some form of partnership but research will have to help us find out whether such a thing is possible and desirable. One thing that this crisis is making abundantly clear is the question of whether the business school community (as part of our society) should play a more missionary and a more pro-active role in future. Should it play a “guiding” function with regard to the do’s and don’ts in the business community? I think so. Business schools have a lot to offer through their international networks, their experience with people from different occupations and different cultures and their expertise in enhancing the “quality” of people. Apart from the many other channels through which they can make their views known, their executive education programmes give them a direct link to a variety of businesses and they should capitalise on this.

ised internally, whether they publish sufficient articles in reputable journals, what liaisons they have and what research is being done. That’s their problem. The outside world is only interested in the variety and quality of the products they offer, the quality of their graduates and their contribution to society. The present crisis has highlighted that there is ample room and reason to play a role in the debate on how businesses should be restructured and run during and after the economic recovery. There is no doubt in my mind, though, that in spite of all the indignation about moral

If one wants to judge the role of business education in these developments one can ask the question whether business schools have been close enough to their customers to be able to influence or criticise thinking or have they limited themselves solely to their student body? These contacts should be exploited to see what’s brewing in society, what new ideas and approaches are developing in the business world, and try to play a role in the discussion. The relationships that are cemented with students of executive development programmes should be used to exchange mutual experience, knowledge and research to discover how the spectrum of the school can be widened and its role in the business world can be enhanced. If the business school community wants to stay connected and exercise influence on the way our community is managed – and after all their core business is educating managers – then it is essential that they are outward looking and heard in society. In the world of business and government no-one cares how business schools are organ-

CEO

excesses and the calls for change the moment the economy really picks up again most of that will be forgotten. The corporate world will continue restructuring and control the development of costs but will be busy again with its day-to-day worries and, apart from isolated cases, little if any fundamental change will take place in society. If we are not careful, steps taken in the field of social responsibility at the company level may drop out of the system and we will chase profits and bonuses in the way we used to.

So now is the time to make it abundantly clear that management as before is no longer acceptable. We want to ensure that the view that the company is part of society and has responsibilities to society at large is preserved. It cannot just consider the interest of its own industry or a limited number of stakeholders. Business schools have a role to play here. They educate the future generation of managers and can convince them that by managing differently to their predecessors they can secure both the continuity of their business and the trust of society. Many things need to be revisited in the programmes that are being taught in business schools if we want to take into account the things we learn from the chaos we are in. But little of it has to do with management techniques. It is more a matter of bringing soft skills more to the fore and emphasising which things are relevant in managing and running a company or an institution that cannot be worked out on a computer. It is desirable that in the rethinking process that will take place in the business school world creative thinking will dominate and that the “soft” side of business will not be caught and taught in rigid formats but with adequate room for cultural differences and personal convictions . After all, techniques are a help but ultimately you manage with your guts. Now more than ever. Whatever is revisited it is to be hoped that the end result will make business schools more outward looking than ever before, will bring them in permanent close working contact with their market (business or government) and make sure their views are heard in society. 

Biography: ★★ Gerard van Schaik is Honorary President of EFMD, Former EFMD President and Former Chairman of the Executive Board of Heineken NV.

Your market is changing. Your competition is changing. Your market is changing. Your market is changing. Your competition is changing. Your competition is changing. Your organization is changing. Your organization is changing. And you? What are you changing? And you? What are you changing?

Your organization is changing.

And you? What are you changing? The Columbia Business School Executive MBA Program The decision to pursue an MBA is a defining moment in the life of high potential The Columbia Business School Executive Program executives looking to enhance their expertise without interruptingMBA their careers. Learn how the Columbia Business School Executive MBA program’s innovative The decisioncollaborative to pursue anlearning MBA is a defining moment in the life offaculty high potential curriculum, environment and outstanding will give executives looking to enhance their expertise without interrupting their careers. you cutting-edge ideas and practices and take your career to the next level. Learn how the Columbia Business School Executive MBA program’s innovative curriculum, collaborative learning environment and faculty will give Visit us www.gsb.columbia.edu/emba or call us atoutstanding 212.854.1711 you cutting-edge ideas and practices and take your career to the next level.

The Columbia Business School Executive MBA Program The decision to pursue an MBA is a defining moment in the life of high potential executives looking to enhance their expertise without interrupting their careers. Visit us www.gsb.columbia.edu/emba or call us at 212.854.1711 Learn how the Columbia Business School Executive MBA program’s innovative curriculum, collaborative learning environment and outstanding faculty will give you cutting-edge ideas and practices and take your career to the next level. Visit us www.gsb.columbia.edu/emba or call us at 212.854.1711

2011 Global MBA Rankings

2011 GLOBAL MBA RANKINGS The benefits attached to an MBA qualification are significant. Career progression, networking opportunities and salary increases are just some of the reasons why application volumes have been increasing. »

aving made the decision to pursue an MBA, deciding upon a school is not easy. Many factors need to be considered, including location, reputation and teaching methods. However, preparing a shortlist of schools is perhaps the most difficult task, given the plethora of schools offering an MBA option. Therefore, in order to simplify the decision-making process, CEO Magazine has assessed the performance of MBA providers based upon certain key performance indicators:

Key Performance Indicators

Online MBA School Rankings (Tier One) Babson College Boston University Cyprus Institute of Marketing Colorado State University Duke University George Washington University Georgia WebMBA Gonzaga University Grand Canyon University Hofstra University IE Business School Indiana University Jones International University Keiser University Manchester Business School Pennsylvania State University Rochester Institute of Technology Strayer University Thunderbird School of Global Management University of Liverpool University of Phoenix University of San Francisco University of Wisconsin Whitewater Warwick University Worcester Polytechnic Institute Swiss Business School

❯❯ FACULTY ❯❯ TUITION FEES ❯❯ INTERNATIONAL REACH ❯❯ INNOVATION ❯❯ DELIVERY METHODS ❯❯ CAREER PROGRESSION (WHERE POSSIBLE)

Eastern Europe Aalto University of Economics Bucharest School of Management CEU Business School International Institute of Business Riga Business School Sarajevo Graduate School of Business University American College Skopje University of Lodz University of Oulu USBSP Business School Praha Warsaw University of Technology Business School

North Africa Cape Breton University German University in Cairo Regional IT Institute: Maastricht

Emerging Markets MBA School Rankings: ‘The Rising Stars’ (Tier One)

MBA School Rankings by Region (Tier One)

South and Central America

Western Europe

ESAN University FIA Business School Florida Atlantic University IAE Business School IESE Universidad de La Sabana Universidad de los Andes Universidad Torcuato Di Tella University of the West Indies Cave Hill

Ashridge Aston Business School Audencia Nantes School of Management University of Bangor City University: Cass Cranfield University University of Durham EADA EDHEC

CEO

Those schools, which have been identified for inclusion into the tables below, are considered by the CEO Review Panel (CRP) to be of tier-one status. Typically, these schools demonstrate a high level of innovation and thought leadership; class sizes tend to be moderate, senior faculty are used and the make up of students is diverse.

EGP-University of Porto Business School ENPC School of International Management Erasmus University: RSM ESADE Grenoble GSB HEC Paris Henley Business School IMD INSEAD International University of Monaco Lancaster University Leeds University London Business School Lorange Institute of Business Zurich Nordakademie Nottingham University Business School Oxford University: Saïd Pforzheim University SBS Swiss Business School Strathclyde University Business School University College Dublin: Smurfit University of Bath University of Edinburgh University of Cambridge: Judge University of Rochester-Bern University of Sheffield University of Warwick University of Zurich Vlerick Leuven Business School Westminster Business School

Northern Europe Aalto University of Economics AVT BI Norwegian School of Management

2011 Global MBA Rankings Copenhagen Business School Hanken School of Economics Stockholm School of Economics University of Gothenburg

SOUTHERN EUROPE SDA Bocconi University American College Skopje University of Bologna: Alma University of Pisa

EASTERN EUROPE Bucharest School of Management CEU Business School International Institute of Business Riga Business School Sarajevo Graduate School of Business University American College Skopje University of Lodz University of Oulu US Business School Praha

NORTH AFRICA Cape Breton University German University in Cairo Regional IT Institute: Maastricht

SOUTH AFRICA Eastern & Southern African Management Institute MANCOSA North-West University RAU University Regent Business School Stellenbosch University Wits University UNISA University University of Cape Town University of Durban-Westville University of Nairobi University of Pretoria University of the Free State

EASTERN ASIA Aoyama Gakuin University Asian Institute of Technology China Europe International Business School Chinese University of Hong Kong City University of Hong Kong Hitotsubashi University Hong Kong University of Science & Technology Keio University Korea Advanced Institute of Science and Technology University of Hong Kong Waseda University

SOUTH ASIA AND OCEANIA Asian Institute of Management Chicago Graduate School of Business INSEAD Macquarie Graduate School of Management University of Melbourne Nanyang Technological University National University of Singapore The University of New South Wales University of Auckland University of Canterbury University of New England University of Queensland Victoria University of Wellington

NORTH AMERICA Carnegie Mellon: Tepper Columbia University

Cornell University: Johnson University of Denver: Daniels Dartmouth College: Tuck Duke University: Fuqua Emory University: Goizueta Fordham University: GSB Georgetown: McDonough Georgia State University: Robinson Harvard University HEC Montreal Indiana University: Kelley Johns Hopkins University: Carey Massachusetts Institute Technology: Sloan Northwestern University: Kellogg Princeton University Purdue University: Krannert Rutgers Business School Stanford University The University of Texas at Austin: McCombs Thunderbird School of Global Management UCLA: Anderson University of Arizona: Eller University of British Columbia: Sauder University of California Berkeley: Haas UC San Diego: Rady University of Chicago: Booth University of Michigan: Ross University of North Carolina: Kenan-Flagler University of Notre Dame University of Pennsylvania: Wharton University of Washington : Foster University of Wisconsin-Madison University Texas at Austin: McCombs Vanderbilt University: Owen Washington University in St. Louis: Olin Yale University

EXECUTIVE MBA Programme Global MBA Rankings (Tier One) Aalto University School of Economics Arizona State University: Carey Ashridge AVT Baylor University Bradford University Brigham Young University: Marriott China Europe International Business School Chinese University of Hong Kong City University: Cass College of William and Mary: Mason Columbia University Concordia University: Molson Copenhagen Business School Cranfield University Drexel University: LeBow Duke University: Fuqua Durham University EADA Emory University: Goizueta ENPC School of International Management Erasmus University: RSM ESCP Europe Essec Business School FIA Fordham University: GSB Georgetown University: McDonough Georgia State University: Robinson Henley Business School Hong Kong University of Science & Technology IAE Business School IE Business School IMD Imperial College INSEAD

KoĂ§ University Lancaster University London Business School Lorange Institute of Business Zurich Loyola University Maryland: Sellinger LSE Michigan State University: Broad National Taiwan University College of Management National University of Singapore New York University: Stern Northwestern University: Kellogg Ohio State University: Fisher Pepperdine University: Graziadio Princeton University Purdue University: Krannert Rice University: Jones Rollins College: Crummer Rutgers Business School SBS Swiss Business School Suffolk University: Sawyer Stockholm School of Economics Temple University: Fox TiasNimbas Thunderbird School of Global Management UCLA: Anderson Universidad Panamericana: IPADE University College Dublin: Smurfit University of California Berkeley: Haas University of California Irvine: Merage University of Cambridge: Judge University of Chicago: Booth University of Denver: Daniels University of Maryland: Smith University of Miami University of Michigan: Ross University of Minnesota: Carlson University of Navarra: IESE University of Oxford: SaĂŻd University of Pennsylvania: Wharton University of Rochester: Simon University of Strathclyde University of St.Gallen University of Texas at Austin: McCombs University of Texas at Dallas University of Toronto: Rotman University of Washington: Foster University of Western Ontario: Ivey University of Zurich Villanova School of Business Vlerick Leuven Gent Management School Warwick Business School Washington University: Olin York University: Schulich

PART-TIME Global MBA rankings (Tier One) Carnegie Mellon: Tepper City University: Cass Drexel: LeBow Elon University: Love Georgia State: Robinson HEC Paris Northwestern University: Kellogg Rice University: Jones University of Richmond: Robins SMU: Cox The University of Chicago: Booth The University of Nebraska: Lincoln UCLA: Anderson University of California Berkeley: Haas University of Edinburgh University of Michigan: Ross USC: Marshall Vlerick Leuven Gent Management School

CEO

“ Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit.” Philip Kotler

Philip Kotler guest lectures on the CBA program ®

The Marketing Guru Philip Kotler will give a guest lecture for the CBA class. Furthermore we present a strong faculty of professors from top universities: Harvard Business School, Yale, MIT and Oxford University.

The next CBA starts in December 2010 ®

CBA in only 6 months

MBA in just 12 months

- as a build on to the CBA

Module 1:

Module 4:

Kick-off, CSR and Case study Competition & Strategy I Harvard Manage Mentor

Marketing Guest lecture “Philip Kotler on Marketing”

• Classes 3 days every month

Module 5:

• Intensive project with live cases

Module 2 & 3:

Financial Reporting & Control

Study Tour to Cambridge, USA • Leadership & Organizational Behavior Developing as a Leader • Operations Management

Module 6:

• Study tour to Shanghai

from a global company • Faculty from some of the leading

Competition & Strategy II – Management Simulation Strategic Project Assignment

MBA schools worldwide such as Harvard Business School, Yale, MIT, Berkeley.

It is only at AVT you can obtain the CBA title ®

Contents provided Con Cont tents ents r rovided ovided p p by: by: by:

Educational member: E Edu duc cational ational member: member:

For futher information go to www.avt.dk AVT Business School . Sankt Annæ Plads 11, 1. . DK-1250 Copenhagen K . www.avt.dk

apply by November 15th 2010

North America & Global MBA Review

North American MBA Review

The Corporate Jason Price, EMBA World »

Introduction:

The Thinking Behind the MBA

eliable statistics on corporate investment in workforce training and education are hard to come by. Therefore, companies do not like to boast about such investments and instead show the contributions by their charitable arms as forms of giving back to the community and investing in the local populace. Companies are also wary of treating tuition expense reimbursement as an entitlement as they do with health care, day care, and other corporate benefits, as school is looked upon as a personal and costly decision.

Regardless of the reality, financing education is an important issue for every stakeholder. Recognizing the sensitivity of this issue, a number of creative and enterprising initiatives have been launched to protect corporate investment while still giving employees the flexibility of growing their career wherever they choose. It is no surprise, then, that only 25 percent of workers feel a strong attachment to their employers, and four in 10 feel trapped in their jobs, according to Walker Information, an Indianapolis-based research firm. Even before the economy slowed, employee loyalty was on the decline, comments Walker vice president Marc Drizin. “I think most organisations still don’t understand why you need to be good to your workers,” he says. Workplace discontent affects productivity, and a company is doomed to failure if it loses its skilled workers. When the economy does rebound, the most talented staffers tend to find opportunity elsewhere, thereby reducing the company’s competitive edge.

CEO

What will drive corporate investment in education and training? The answer is the need for better-trained, skilled workers – and managers. More companies will need to grow their education and development programmes utilizing internal departments or collaborating with outside institutions like community colleges and universities and with outside contractors. Emphasis will be placed on the development of future leaders, providing fast-tracking in those organisations that lack competent leadership. A suggested alternative for motivating and growing management is the Executive MBA.

Tackling the Cost:

Financial Sponsorship An Executive MBA is an expensive endeavor. Programmes range from $40,000 to $145,000 or more in tuition plus travel costs from study tours. The high cost of tuition along with concerns of employee flight upon graduation serve as chief barriers for corporate financial sponsorship. A growing number of applicants are accepting that they must shoulder a proportion of the course costs themselves. Retaining good employees is always a challenge, if not the most important aspect of the long-term viability of the organisation. Organisations continually grapple with the tradeoff

EMBA World

Tackling the Cost:

Employer-based contractual and financing initiative If the employer determines a contract is necessary, NYU administrators recommend the terms be set for no longer than three years after graduation. In fact, NYU suggests that when a corporation grants financial sponsorship, employees are more willing to sign such sponsorship conditions. If an employee is reluctant to sign a contract, financial incentives or a guaranteed position upon graduation are possible inducements. School administrators also suggest that addressing the commitment to the company early on in the sponsorship negotiation process helps mitigate potential conflict later on down the road. If an employee chooses to leave the company before an agreed-upon time frame elapses, the following schedule for payback can be added to the contract: ❯❯ If the employee leaves the organisation immediately after graduation: employee is required to pay back the full cost of the programme ❯❯ One year after graduation: employee is required to pay back two-thirds of the programme cost ❯❯ Two years after graduation: employee is required to pay back one-third of the cost ❯❯ Three years after graduation: no pay back obligation.

between their investment in their employees and the increased marketability of those employees who are recipients of that investment. Providing sponsorship for an EMBA—whether it is financial or a commitment of time—is really no different. Each company has to determine the level of commitment and the return that it wants through a formal retention mechanism. This challenge to push and pull at the same time is what keeps human resource officers up at night. Employers are reluctant, justifiably, to sponsor employees who may not return to work after graduation. It is a concern for schools as well, as it violates the essential mission of the Executive MBA: to augment and enhance both the employee and employer. It can also compromise future revenues to the school, as it relies on an annual stream of loyal, corporate-sponsored attendees who attend with at least partial funding from their employers. A contract between employee and employer is usually the most common practice to assure continuity. The results are mixed according to several hiring managers interviewed on this subject. Complications vary from determining a mutually agreeable time commitment after graduation to the practicality of pursuing employees who break contractual obligations on a legal

basis. Some corporate officers feel the risk of resignation is simply not worth the investment, while others value the education and training and fully support their employees. However valid the employer concerns may be, there is no accurate data to measure the actual flight risk. Perhaps it is real, or perhaps it is more the exception rather than the rule. As noted above, a 2010 survey found that EMBA graduates reported significantly higher salaries after they received their EMBAs, suggesting that their employers found their new skills highly desirable. The same survey group reported the higher salary was achieved largely with the same employer. More than nine years after they completed their EMBAs, 40% of the respondents remained at the same place of employment. Quite possibly EMBA students may have more staying power than some companies assume, and they may actually represent a group of employees with uncommon loyalty. Regardless of the reality, financing education is an important issue for every stakeholder. Recognizing the sensitivity of this issue, a number of creative and enterprising initiatives have been launched to protect corporate investment while still giving employees the flexibility of growing their career wherever they choose.

If a sponsored employee leaves or is terminated during the course of the Executive MBA, the company has the following options: ❯❯ Require reimbursement to the company ❯❯ Terminate sponsorship and write off money spent to date ❯❯ Continue sponsorship through the duration of the degree.

Corporate write-off: Tuition reimbursement is a corporate expense, so at least there’s an educational tax write-off. A corporate sponsorship programme is a generic term describing the formalization of EMBA sponsorship. The employer internalizes a formal process for managing the EMBA student from candidate identification and selection to financing the education and, of top priority, protecting the corporate investment.  Biographies: ★★Jason Price is the Director of EMBA World. The Corporate Perspective has been taken from Jason’s upcoming book.

CEO

CHICAGO BOOTH HAS BEENBOOTH CALLED CHICAGO THE TOP HAS BEENBUSINESS CALLED SCHOOL THE THE TOP IN BUSINESS WORLD. IN WETHE ASKED SCHOOL WHY? WHAT’S WORLD. WE ASKED THE WHY?PROOF? WHAT’S THE PROOF?

The fact that we question every answer and test every result is what put us in this position in the first place. Our rigorous approach and free market thinking teach people how to think, not what to think. It’s an approach that has led to some pretty amazing results, including our consistent presence among the world’s most highly ranked business schools. Of course, intendand to stay at the result top of isthe field, The fact that we question everywe answer test every what but ourinmore is to our philosophy of put us this serious positioncommitment in the first place. Ourunrivaled rigorous approach and stimulating and educating the next generation of innovative minds. free market thinking teach people how to think, not what to think. It’s Chicago Booth—more thantojust a business school, results, a business force. an approach that has led some pretty amazing including our consistent presence among the world’s most highly ranked business schools. Of course, we intend to stay at the top of the field, but our more serious commitment is to our unrivaled philosophy of stimulating and educating the next generation of innovative minds. Chicago Booth—more than just a business school, a business force.

CHICAGO LONDON SINGAPORE CHICAGOBOOTH.EDU

CHICAGO LONDON SINGAPORE CHICAGOBOOTH.EDU Booth_BusForce_proof_8-375x10-875.indd 1

2/18/10 10:47:16 AM

Booth_BusForce_proof_8-375x10-875.indd 1

2/18/10 10:47:16 AM

The Wharton School

NEW FAMILY BUSINESS FELLOWS PROGRAM The Wharton School, University of Pennsylvania »

wo family business leaders will help launch a new Family Business Fellow series modeled after the School’s popular Entrepreneur-in-Residence (EIR) Program. The EIR program, developed and managed by Wharton Entrepreneurial Programs (WEP) brings highly accomplished entrepreneurs to campus every week to meet with students in one-on-one meetings. The Family Business Fellow (FBF) program is managed by the Wharton Global Family Alliance. The FBF series provides an opportunity for students to meet one-on-one with a successful family business member to discuss family business governance, wealth management, and philanthropy. The first of two Family Business Fellows is Laird Pendleton, cofounder and Managing Partner of CCC Alliance, the world’s leading private consortium of single family offices and wealthy families. In 1986 Laird also co-founded Cairnwood Cooperative Corporation, the family office that manages the affairs of a branch of the Pitcairn family (founders of Pittsburgh Plate Glass). Mr. Pendleton is also Chairman of the Wharton Global Family Alliance Advisory Board. “This is an exciting fall semester for both Wharton Entrepreneurial Programs and the Wharton Global Family Alliance,” says Prof. Raphael (Raffi) Amit, the Robert B. Goergen Professor of Entrepreneurship and co-founder of the Wharton Global Family Alliance. “By bringing to campus such accomplished entrepreneurs and family business leaders our students are receiving an ideal complement to their classroom experience: this underscores our commitment to blending theory with practice at the Wharton School.” The EIR program has grown through the years thanks in great part to Wharton and Penn alumni such as 1974 Wharton undergraduate alumnus Robert Haft who established the Robert Haft Entrepreneurin-Residence Endowment Fund with a generous gift in 2007.

Visiting Wharton as part of the Robert Haft Entrepreneur-in-Residence Fall Series this semester are: ❯❯ Alfred Liggins (WG’95) President & CEO, Radio One

❯❯ David Adelman President & CEO, Campus Apartments ❯❯ Rick Rasansky (W’83) Founder & CEO, Yorn

❯❯ Ben Lerer (C’03) Co-Founder & CEO, Thrillist.com ❯❯ Jay Tapper Founder, J-Tap

❯❯ Max Gowen (WG’02) President & CEO, Trevena

❯❯ Kevin Reeth (W’92) CEO & Co-Founder, Outright.com

The EIR Program, founded in the fall of 2001, is one of many successful co-curricular initiatives that reflect WEP’s commitment to support entrepreneurship campus-wide. Over 150 entrepreneurs have taken part in the program to the benefit of over 1,500 students from across the Penn campus. Many entrepreneurs who have served as Entrepreneurs-in-Residence are alumni. They and their fellow alumni are building businesses worldwide and solving societal problems as they add value to local economies.

The EIR Program, founded in the fall of 2001, is one of many successful co-curricular initiatives that reflect WEP’s commitment to support entrepreneurship campus-wide. CEO

North American MBA Review

Some of these alumni and their businesses include: ❯ Anne-Marie Corner WG’89 ProTem Pharma; Biosyn Inc.

❯ Joe Segel W’51 QVC; National Software Testing Laboratories; Franklin Mint Corporation ❯ Connie Duckworth WG’79 ARZU STUDIO HOPE Inc. ❯ Scott Hilton WG’07 Diapers.com

❯ David Birnbaum WG’05 TAKKLE ❯ Nathaniel Turner W’08 Invite Media Inc

❯ Lucinda Holt C’85 WG’91 ClickEquations; TurnTide

❯ Jon Huntsman W’59 HON’96 Huntsman Corporation ❯ Brett Hurt WG’99 Bazaarvoice; CoreMetrics Inc.

❯ Vernon Hill W’67 Metro Bank (UK); Commerce Bancorp ❯ Robert Goergen WG’62 Blyth Inc.

❯ Seth Berger C’89 WG’93 AND1

❯ Tom Austin W’93 GED’08 AND1

❯ Josh Kopelman W’93 First Round Capital; TurnTide; Half.com; Infonautics

About Wharton Entrepreneurial Programs

About Wharton Global Family Alliance

In 1973, the Wharton School became the first school to develop a fully integrated curriculum of entrepreneurial studies. Today Wharton, through Wharton Entrepreneurial Programs, supports and seeds innovation and entrepreneurship globally through teaching, research, and outreach to a range of organizations through its many programs, initiatives, and research centers. At the same time, Wharton students and alumni are helping to build entrepreneurial enterprises around the world and impacting virtually every industry.

Since its formation in January 2004, through an agreement between the Wharton School and CCC Alliance, the Wharton Global Family Alliance (Wharton GFA) has become the knowledge leader in family business research focused on family businesses, primarily in the areas of governance, philanthropy, and wealth management. Wharton GFA focuses on rigorous scholarly research in combination with the practical experience of successful global families to highlight the social impact of families worldwide. Wharton GFA has a robust research agenda and a wide variety of outreach focused on a global audience. 

“Don’t learn how to do things right only. Learn how to do the right things.” Prof. Peter Lorange

❯ Peter Nicholas WG’68 Boston Scientific Corporation ❯ Brian Roberts W’81 Comcast Corporation

❯ Ralph Roberts W’41 HON’05 Comcast Corporation

❯ Julian Brodsky W’56 Comcast Corporation; Comcast Interactive Capital

WG = MBA alumnus; W = undergraduate alumnus Biography:

AD LORANGE?

★ The Wharton School of the University of Pennsylvania — founded in 1881 as the first collegiate business school — is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. The most comprehensive source of business knowledge in the world, Wharton bridges research and practice through its broad engagement with the global business community. The School has more than 4,900 undergraduate, MBA, executive MBA, and doctoral students; more than 9,000 annual participants in executive education programs; and an alumni network of 86,000 graduates.

The Lorange Executive MBA. Heavy on practice, so you learn how to solve reallife problems. Modular, so you can maintain your full-time job. And partnering with top academics only, so you learn from the best. Get more information or apply now: Phone +41 44 728 99 44, www.lorange.org

Fordham MBA

Take a Swing at This: The World’s Jazziest Institution, Amadeus Finlay talks to Dr David Gautschi and Dr Francis Petit »

To what extent does Jesuit education philosophy influence the MBA programme at Fordham?

Business relations are built on the golf course thus everybody should learn to swing.

F.P. Certainly at undergraduate level, the Jesuit philosophy is present in sociology, philosophy and theology courses, but for the MBA programme it’s a little different and at times may not be present at all. So, with the Executive MBA programme we work very hard to ensure that our students know that they are attending a Jesuit institution. When they start the programme they sign an ethos statement which provides direction on how to treat one and another, the philosophy of the programme etc. I also make an effort to work closely with my EMBA Jesuit counterparts and one of the big issues we’ve been discussing is how we brand a Jesuit MBA programme? One of the things we do consider and work hard on integrating into the programme is the importance and place of CSR. In addition, we have the required one and a half credit course on contemporary ethical issues in business. However this does not direct students in terms of how to think ethically, but rather makes them aware of, and more sensitive to, potential ethical issues. It is also worth mentioning that we have had a speaker, Mr Chris Lowney, author of Heroic Living and a double degree holder from Fordham, address the classes of late. An interesting gentleman, Chris was once a Jesuit seminarian but left before he was ordained and went to work for JP Morgan as a managing director. When he left, he started to write books on purpose, work and life. All powerful pieces, he ties in Jesuit ideals into the whole business message. It might also be worth mentioning that due to the emphasis Jesuits placed on physically spiritual pursuits, we have introduced meditation into our programme in order to get the students grounded and to allow them to see the big picture. We have also added a wellness programme.

CEO

North American MBA Review

Overall, it is about putting the Fordham culture together.

D.G. There are other Jesuit universities which have MBA programmes and, historically, they have all struggled. At Fordham the challenge is to maintain our quality while being conscious of how to infuse the Jesuit approach into professional education. Certainly at the undergraduate study level, as Francis has already said and regardless of the discipline, this is a central feature of the student’s Fordham education. In the graduate professional programmes, and particularly in business, the question is, ‘why is the business school located in the university?’ The answers vary. The financial gains help to support the university as a whole. We are addressing a greater social need for graduate business education and so on. We have four strategic themes and each one has strong elements of Jesuit thought that we need to pursue. ❯❯ The first is advancing understanding of business in the global economy. ❯❯ The second is to advance understanding of business in a money centre; i.e. New York ❯❯ The third is to advance understanding of business in a media centre; an element which has a technological spin. ❯❯ The fourth is an explicit drive to increase the societal understanding of business.

CEO

These elements align together and all are anchored on the fourth and follow certain practice guidelines that in so doing reveal our Jesuit stripes. We have also launched something called the Fordham Consortium which is a compliment to the curriculum of the MBA programme. It gathers around 45 people globally from different walks of life, not to form consensus but to form discernment and to discuss ‘what is the purpose of business’, regardless of one’s global position. This organisation is neatly reflected in the vision and construction of the MBA programme where we are keen to bring different ideas and people together, not to drive unilateral thought but, to cover a range of different contexts. We need to understand these differences and celebrate them.

The idea of Fordham is to nurture the individual and to develop men and women for others.

Kindly expand upon the purpose of the MBA/MGM Thunderbird Partnership and how this aspect of the MBA programme benefits students.

F.P. This partnership offers our students the chance to gain a dual degree. It is a partnership that we have had for eleven or twelve years and usually attracts a strong level of student interest,

Fordham MBA

although it does fluctuate. However, the partnership is symbolic. It was one of our first major partnerships and is something we have now expanded upon. D.G. Thunderbird’s ‘thing’, if you will, is international business and due to external economic patterns, students become affected by their desire to enter into international business partnerships, hence the occasional dip in interest. Allow me, however, to move on and discuss other external partnerships. What has happened in the recent past is an increas-

The breadth and depth of courses offered by the MBA programme at Fordham is startling. Do you find, however, that there are issues with seemingly limitless choice? For example, under or over subscription of courses or indecision within the student body?

there is no reason why we shouldn’t suggest to an EMBA/MBA graduate that they further refine and specialise if they want to focus on and build particular skills. Our academic portfolio is being fleshed out and there is a drive to expand our possibilities to graduates as their careers progress.

F.P The goal is to not only offer students actual choice, but also to offer the students a perception of choice from every section of the programme. We allow students to vote and come to an independent consensus on many elements, including where they go for their international trip to what

All work and no play make Jack a dull boy. Does Fordham operate a system that not only provides students with the finest MBA education available, but also encourages social interaction and the development of essential intrapersonal skills?

At Fordham, our challenge is to maintain our quality while being conscious of how to infuse the Jesuit approach into professional education. ing emergence of viable graduate programmes outside of the political frontiers of the United States that have become both very accessible and amenable to collaboration. So, for example, we have collaborated with one of the new foundation universities in Turkey, Kadir Has. It is a relatively new university and one that’s evolving very rapidly. The partnership allows us to take advantage of the geo-political position of Turkey as well as its position within developing markets, especially those that don’t necessarily spring to mind; in the Levant, in the Maghreb and around the Black Sea. Thus we are not focusing on where we have been, or where we are today. Instead, we are trying to anticipate where we will be going over the next decade. We want our students to be at the forefront of important global developments. We also have a long-standing relationship with Peking University. Fordham was the first institution outside of China to partner a Chinese university and confer a non-Chinese degree, the Beijing International MBA. There is now a consortium and the degree is awarded by Vlerick in Belgium, but Fordham remains one of the principle partners.

they eat for lunch. What students want is to come in on the weekend and take the programme in an environment that puts them at ease. While the programme has structure, students who come from the so-called Generation Y love a fusion of choice and structure, hence the application of perceived choice. D.G. We have committed ourselves to a continual assessment of the curriculum and thus we’ve stepped back in order to review our programme portfolio and gauge how the MBA corresponds to other programmes at the institution. Saying that, given the depth and wealth of our programmes,

F.P. We have an experiential approach, but first and foremost we must offer EMBA students a faculty that fulfils their expectations. However, we don’t want this to be the sole differentiator. We are keen to provide extracurricular events and social interaction, for not only does this bring the class together; it improves the overall experience of those on the programme. For example, we do a Management Jazz Simulation at Jazz at the Lincoln Centre; an event that links business and wine tasting; a golf clinic, due to the notion that business relations are built on golf course and thus everybody should learn how to swing, as well as the idea that golf is built on risk taking and strategy. We also take our students to the Bronx Campus for a weekend in order to give them a change of scenery and we dine somewhere on the famous Arthur Avenue. In addition, we have introduced meditation and well-being elements to the programme, including yoga, positive diet and exercise. Overall, the idea with Jesuit education is to develop the entire individual in a unique and fun way.

F.P. We have plans to align ourselves with other international institutions and currently have a relationship with the University of Pretoria in South Africa as well as Heythrop College in Kensington. Our students now have the choice of doing a one-week gateway programme to any of these countries where the focus would be on the global political economy and the students would meet government agencies and local businesses. At the end of the trip the student is awarded a certificate in recognition of this exercise in international relations.

CEO

North American MBA Review

Sapientia et Doctrina is a fine motto, but does Fordham apply this vision of wisdom as well as learning to its MBA programme?

F.P. The idea of Fordham is to nurture the individual and to develop men and women for others.

Does Fordham operate a GPA (Grade Point Average) system in order to categorise levels of achievement and award degree classifications?

D.G. Well, the answer to the first part of the question is ‘yes’ and the answer to the second part is ‘I don’t know!’ Francis... F.P. So, yes, obviously there is a GPA where an A is 4.0, a B is 3.5 and so on. At the end, when they graduate, the Office of Student Life decides who has excelled, i.e. the top five per cent, and they are inducted into the Honours Society of the Business School, as determined by the GPA. This honour is open to all students in the MBA bracket whether full time, EMBA etc.

CEO

How does Fordham balance providing a thorough MBA programme with the career demands of middle management?

F.P. We try to take off a lot of the burden from them, because if someone has had a bad week and they receive a cold cup of coffee it might send them up the wall. So we remove things like expecting them to wait in line at the bookstore, we provide lunch, we try to help them with their billing and create an overall culture that makes them feel at home, not only for the duration of the programme but beyond graduation. In the near future we plan to launch a career planning and management service that will help our graduates adjust in an environment that is rarely linear and stagnant. At the end of the day it’s about putting the Fordham culture together. For example, I actively get involved in each step of the process and remain accessible to the students, as do all other members of faculty. The Dean will frequently have lunch with the students. This not only makes them feel important, but makes them feel a valued part of the institution.

D.G. Another key element of the Fordham culture is that students help each other and feel that they are part of one collective student group.  Biographies: ★★Dr David Gautschi was educated at Ruprecht-Karls-Universität Heidelberg, the University of Oregon and obtained his Ph.D at Berkely in Applied Economics. Before assuming the position of Dean at Fordham School of Business, Dr. Gautschi held office at Cornell, INSEAD, Yale, University of Washington, RPI and Fordham. He was also a Firm Director at Deloitte & Touche. ★★Dr Francis Petit is the Associate Dean at the Fordham School of Business. A Fordham old-boy, Dr Petit received his Bachelors and M.S. at the institution. He also gained a Masters at NYU and an Ed.D from Columbia. He rejoined Fordham in 2002.

Global Leadership

Georgetown University’s McDonough School of Business offers three extraordinary executive master’s degree programs that will transform your ability to succeed in global leadership roles.

Georgetown University’s McDonough School of Business offers three extraordinary Executive Master’s in Leadership: Designed to unlock the personal, team, and executive master’s degree programs that will transform your ability toorganizational succeed in leadership potential of accomplished executives. In just 13 months, the program integrates leadership global leadership roles.

perspectives from business, public policy, diplomacy, and military science and will inspire you to apply these lessons to your and your life. Executive Master’s in work Leadership: Designed to unlock the personal, team, and organizational

leadership potential of accomplished executives. In just 13 months, the program integrates leadership Global Executive MBA – Georgetown Campus: Ranked among the world’s top Executive MBA perspectives from business, public policy, diplomacy, and military science and will inspire you to apply programs for more than a decade. It augments core MBA disciplines with specialized courses in global thesebusiness, lessons to your work and your life. individual leadership coaching, and the transformational experience of two global consulting projects, delivered in locations as diverse as Mexico, Turkey, Dubai, China, Vietnam, and India.

Global Executive MBA – Georgetown Campus: Ranked among the world’s top Executive MBA programs for more than a decade. It augments coreCombining MBA disciplines with specialized courses business in global Georgetown–ESADE Global Executive MBA: the strengths of two world-class business, individual leadership coaching, the of transformational of two global consulting schools and Georgetown’s renowned and School Foreign Service,experience the Georgetown-ESADE program projects, delivered in locations as diverse as executive. Mexico, Turkey, Dubai, Vietnam, India.it will is tailored for the highly mobile, global Delivered in sixChina, modules over 16and months, immerse you in the lessons of globalization in the world’s most important centers of business and

Georgetown–ESADE Global Executive MBA:Buenos Combining strengths of two world-class business public policy: Washington, D.C., Barcelona, Aires,the Sao Paulo, Bangalore, Madrid, Moscow, schools and Georgetown’s renowned School of Foreign Service, the Georgetown-ESADE program and New York City. is tailored for the highly mobile, global executive. Delivered in six modules over 16 months, it will immerse you in the lessons of globalization in the world’s most important centers of business and public policy: Washington, D.C., Barcelona, Buenos Aires, Sao Paulo, Bangalore, Madrid, Moscow, and New York City.

Georgetown Means Business.

Georgetown Means Business. GeorgetownMeansBusiness.com/executive +1-202-687-2691

GeorgetownMeansBusiness.com/executive +1-202-687-2691

North American MBA Review

Concordia: A Transformational Experience CEO Magazine talks to Anne-Marie Croteau » Introduction

Kindly define your unique EMBA value proposition?

What we offer our students is a transformational experience that will help them foster their talents. We hope to help them improve their leadership skills and help them be responsible global citizens. When it comes time for them to make important business decisions they will be well equipped and will have enough knowledge to make high-quality decisions for their companies, but also for society at large; we’re pushing our students not only to be effective corporate players but to also be socially aware citizens.

Today’s MBA

As the competition for students between business schools increases the number of credits required to obtain an MBA seems to be in decline. Is this diluting the experience and benefit students derive from the aforementioned qualification?

This is quite hard for me to answer regarding our own offering as we have maintained a consistent number of credits. Our students are required to complete 54 credits which is typical for an

CEO

MBA qualification, and we have no intention of reducing it. Of course there are various opinions between and within schools, and it would be wrong of me to attempt to second guess others’ rationale in the credit composition of their programs. The faculty involved with the Concordia EMBA saw no profit in reducing the academic investment for the program.

Some say that the greatest threat to the integrity of business education is the “students as customers” metaphor. Do you concur with this?

While we have to treat students with respect and with the right level of service, we see our participants, to use a production analogy, as raw material; our task is to work with our students and transform them into responsible businesspersons who have undergone a change. To see them solely as customers, while of course some schools wish to run their business as a business, might short change the students; while our business is business, our remit is to provide quality education. Seeing cohorts, only, as a source of revenue could have obvious implications upon the high quality of executive education we aim to provide.

Concordia MBA

The students, who are already experienced business people, in effect become consultants for their sponsoring organisations, so there is real short term value and immediate ROI for a company as well as the obvious long term benefits for and from their employees.

Would it be fair to say that there has been a fundamental shift from teaching functional skills such as finance and accountancy to producing graduates who are more rounded in terms of their professional and personal skills?

I think this is the case, in broad terms. Our offering is a two year program. During the first year we cover the fundamentals of business administration; finance; accounting; marketing; operations etcetera. However in the second year we aim to provide students with more corporate strategic thinking, so we emphasize their personal and professional abilities such as leadership, as well as organisational psychology, especially in relation to employees within an enterprise or corporate environment; do you seek feedback, how do facilitate growth in your staff, how do you assist your employees in being successful; how do you approach leadership; do you employ approaches to assist in change? So, to summate, while it is important to provide tangible functional skills for business administration, the hard skills if you will, the challenge is also to develop participantsâ&#x20AC;&#x2122; soft skills through the course of the program.

Return on Investment Kindly explain the ROI expectations a typical corporation has from an executive MBA program. The most obvious benefit for a corporation that has employees passing through our program is that it enables them to be more effective business managers and leaders. It enables graduates to make better decisions in a timely fashion. Beyond this however, our students work with their colleagues across the EMBA addressing real life business problems they bring in with them from their own individual company contexts. On a practical level, teams of four to five of our students work on a problem a company is experiencing in real time which results in concrete recommendations that may be implemented. The students, who are experienced business people to begin with, in effect become consultants for their sponsoring organisations, so there is real shortterm value and immediate ROI for a company as well as the obvious long term benefits for them and their employees.

An MBA graduate that performs well can anticipate certain opportunities. What can graduates typically expect from Concordiaâ&#x20AC;&#x2122;s EMBA program, in terms of ROI?

We of course conduct individual exit interviews at the end of the program, so I am able to gauge what each student takes away from the EMBA. The participants invariably respond that they have grown throughout the experience on a personal level with increased levels of patience and tolerance toward colleagues leading to an ability to see the value in alternative perspectives. The course imbues an inherent increase in confidence levels, and a move towards objective understanding for an individual of his or her own strengths and weaknesses, allowing participants to function with increased effectiveness at the interpersonal level. Graduates subsequently report with regards to their job performance, they are regarded as more assertive, more confident. Within companies it is reported that they become a point of reference for their colleagues who wish to draw on their perceived and actual expertise, which in many cases might not have happened in the past; this type of social capital is of course a benefit at multiple levels. Such perceptions within the workplace obviously have concrete effects on potential career progression and from a bottom line standpoint a graduateâ&#x20AC;&#x2122;s earning potential.

How much emphasis should be placed upon the return one obtains from a lifetime of networking with a group of smart, successful professionals?

Former students consistently point out that they remain lifelong friends with the colleagues in their cohorts; our school was established 25 years ago so the roots are deep. Alumni have remarked that

CEO

North American MBA Review

the students are expected to present on so many different subjects and so frequently that they become experts at conveying information through presentation. This provides a tangible skill to take back into the workplace which places them at an advantage and will have a real effect on viable career progression. This ability to take the practical skills developed during the course and apply them in the workplace has long lasting advantages, so the two are naturally intertwined.

Admissions

Do you foresee the MBA admissions process becoming more simplified over the coming years?

they are able to contact acquaintances and benefit from the invaluable contribution the alumni network can provide not just a year after graduation but a decade later. The program organizes approximately three official alumni events a year, more often than not, alumni tell personal stories

I don’t think that simplifying the application process here at Concordia is necessary since our actual administrative process is quite simple. We maintain the same expected levels of experience and capability as measured through our entry criteria. We still require transcripts from previous study, a comprehensive CV, company approval for study, as well as the comprehensive interview process by which the school assesses the appropriateness of a candidate, but also the ease in which the candidate may be indoctrinated into the practical challenges that can confront an entrant. It is important for applicants to understand and determine the level of support of their family members, company, and colleagues. While it’s important for applicants to determine what the program means to them on a personal and professional level, we believe we have a duty to inform them how demanding it can be to complete the program without the support of all parties; this in and of itself is not a process that lends to being streamlined. Applications are submitted and completed through our online system, and while technology facilitates the admission process following up is conducted by phone or in person.

The EMBA program is always adapting; not only is it a learning and transformative process for the students, the program itself is dynamic; it is in a state of constant evolution. of how the EMBA has had a long term effect on their personal and business lives. They frequently tell the story ‘You know this guy I studied with ten years ago? I still have lunch with him every other month. We discuss problems, some of which are pressing business issues. I trust his advice and judgement when it comes to the ways I may have addressed the situation in the past, or how to approach a current or future challenge.’ The mutual respect and assistance between graduates far outlives the two years they spend together within the cohort. The struggles they experience, the same intensity of learning, coupled with the fact that they maintain a career during the MBA develops deep ties that last a lifetime.

Improving one’s knowledge, skills and abilities (KSA) is certainly a motivating factor for MBA candidates. However, in your opinion, is KSA acquisition second to career progression?

I’m not really sure that the two can be easily separated; KSA is embedded throughout the learning experience at Concordia. For instance,

CEO

How much emphasis do you place upon face-to-face and telephonic interviews?

One of my responsibilities at Concordia is as the academic director for the EMBA. This means that I conduct the final interview prior to offering a potential student a place at the school. An interview at this stage is a signal to the applicant that their chances of being accepted upon the course of study are quite high. Prior to this there is a penultimate interview with the assistant director, and this is an opportunity to work through their application, finalizing any information and/or documentation which might remain outstanding. Thus Concordia provides many occasions for human interaction between administration, faculty and applicants which we think of as highly important. On such an

Concordia MBA

Biography: ★★Dr Anne-Marie Croteau is Associate Professor of Management Information Systems, and Director of the John Molson Executive MBA Program at Concordia University, Montreal.

important journey we want to address all practical, social and even existential considerations so that they will be better prepared to focus their efforts on their studies. Interviews, both face to face and more ad hoc via telephone, are a crucial way of ensuring our students are equipped for the various demands the courses will place upon them.

In relation to Concordia’s student body, how important is diversity?

Concordia is served by a diverse multicultural community present in the fabric of an international city such as Montreal. Diversity is an inherent and valued feature of the university. Montreal is a known as a bilingual city, but of course many languages beyond French and English are spoken here. In addition to these intrinsic features of our city, the university and the school are host to many international students. This is reflected not only within our student body, but also within academic staff; in our faculty there are 136 nationalities represented by staff alone. This said, the EMBA offering by its nature is quite local in its focus, predominately servicing local businesses and business people from the surrounding region. However while it is based out of Montreal the ethnic and national origins of participants fami-

lies is as varied as the population of the city; many of our students are second and third generation Canadians descended from people who chose to make this city their home, whether they be from the different regions of Europe, the Middle East, the Subcontinent, to South East Asia and the Far East. In addition to this, around 20% of our students are those whom would be officially recognised as international students.

With respect to your Executive MBA program, how much emphasis do you place upon business experience?

This is a crucial criterion for our EMBA. We require a minimum of five years experience in business, just to consider an applicant’s file; however, participants tend to have an average of 15 years in the workplace. This is really required for the functioning of our program. The students are provided with their course materials each week and this is always case based. During class time the students are given practical direction from a theoretical perspective in what they should be gaining from course materials, but the students will want to apply what they have learned in theory immediately into their work environment; in this regard extensive work experience isn’t just desired, it’s an integral requirement of our teaching process. It also enables our students to access the theories they are being taught; they have the ability to know how and whether a hypothesis might be applicable in a specific environment. We not only expect this from our students, it also applies to our faculty; one of our taglines says ‘You learn from the best’. The Professor who stands before you will be the best; the academics are handpicked not only for their academic achievements, but also their business experience. The class environment is positively challenging.

Looking Ahead

You continue to innovate, what can we expect from Concordia in 2010/2011?

Concordia will continue to work on the curriculum, revising our content to keep current with developments at the local, national and global level. Faculty members meet to facilitate this every year ensuring that the topics and trends under discussion and consideration are contemporary and relevant to progressive business practice. Our school is now housed in a brand new building which offers the most up-to-date facilities in an environment that has the air of, and indeed is, a cutting edge institution. We believe that content is key and we are constantly looking to develop and improve our offering. Research is a feature of the John Molson School of Business, and as well as the contribution our MBA cohorts bring to the school, it is another way that we can foster knowledge development; as I said, content is key. 

CEO

Online MBA

on my mind Jonathan Calens talks to Dr Ronald E. Shiffler and Dr Joseph S. Bocchi »

Can you define the Georgia WebMBA’s value proposition?

The Georgia Web MBA adds value in three ways. First, because the programme is fully accredited, secondly, it is affordable, and last but not least, through team based learning. As a consortium consisting of six business schools, we have all acquired accreditation from the Association to Advance Collegiate Schools of Business (AACSB), which is considered the “gold standard” for business schools.

Although the old style of coming to class once a week is still around for many, our target audience finds this to be an inflexible format. In talking to both former and prospective students, we discovered that accreditation is one of the most important things they look at in their search for an online degree programme that fits their needs. Therefore, we feel our accreditation is highly significant in determining the type of student that we attract. Turning now to affordability: In the US we are defined as a public institution. The governing factor here is that State Government sets the tuition rates. In a word, the State subsidises a hefty portion of the cost of higher education. Thus, our total cost for this programme is somewhere around 20,000 US dollars, a very reasonable amount for an online MBA programme. Finally, we are very proud of the fact that we approach this programme by putting students into teams, which match their work environment for the most part. This helps to make them feel connected and not just people staring at a computer screen. Accordingly, we assess their behaviour and personality with typical commercial instruments, and then we assign them to a functional team with a great deal of diversity; this team stays in place throughout the entire programme. We feel the teams help to reinforce

CEO

their work environment and maximise retention. We are justifiably proud of that.

The Board of Regents of the University System of Georgia is appointed by the State Governor. Can an offering that significantly reaches out, both nationally and internationally, strategically establish the Southeast as a region of the US that focuses on executive education comparable to its Northeastern neighbours?

Some 10 years ago we began as a regional programme, in other words, our market was primarily throughout the state of Georgia. However, over the 10 years we’ve been in business, our market reach has grown exponentially. Now, we are discovering that the prospective student is not coming from just this state or from the Southeast; they are contacting us from all over the United States, and all over the world. This has helped us to build greater diversity. As a corollary, it has also helped us in the marketing of the programme in that we can say that we offer a truly international MBA programme. Although maintaining the American orientation in terms of curriculum, the students that we are beginning to attract are more international in scope and in turn it helps our domestic students to see a somewhat different view of the world.

E/MBAs are often offered as part-time or full time. Many universities use blended learning, mixing classroom and online platforms to facilitate student learning, whether they are based on a campus through the semesters or attend on-site for weekend and/or evening lectures. What made the Georgia Board of Regents decide to deliver an MBA solely through a Web 2.0 interface?

Let me go back and congratulate the Deans who held office in the late 90s and the early part of this decade, for their vision. I believe that most of them have retired: but their contribution stemmed from the ability to recognise the value in online

Georgia Web MBA

We can say that we offer a truly international MBA programme. education. They had the foresight to predict that education was going to expand beyond the faceto-face and that we needed to be a player in the movement to online education. And so, the programme they devised has provided an excellent framework for todayâ&#x20AC;&#x2122;s offerings. We are very pleased to state that our online programme has achieved a graduation rate of 86%. We are very proud of this. Our programme is a cohort model, and the involvement of the students through team based learning has been a resounding success. All in all we see a very bright future ahead of us in delivering education online.

Some would propose that the accepted wisdom is that campus based learning provides a more focussed environment for the facilitation of university education. For executive education in the early 21st century where business requires strategic flexibility and innovation, is this a fit perspective?

I do think itâ&#x20AC;&#x2122;s important to recognise what your customers are seeking. While we may differ on whether face-to-face or online is the preferred method of delivery, the simple truth is that online satisfies a demand segment that might not otherwise have been served. Traditional face-to-face programmes are those in which classes meet on a regular basis perhaps once a week, sometimes

more often than that. By contrast, prospective online students are living very complex lives. The working professional to whom we are pitching our programme is travelling. They have families, they are going to soccer matches, they are worried about the spouseâ&#x20AC;&#x2122;s job and the demands on their time, so although the old style of coming to class once a week is still around for many, our target audience finds this to be an inflexible format. We do believe that our online programme offers the quality you would find in a face-to-face programme and we are doing it at a very affordable price. Probably five or six years ago we had more difficulty attracting students because the technology was not yet truly a part of the corporate psyche. We believe that it is now.

The Georgia WebMBA is accredited by the AACSB and SACS. How important is accreditation to the component colleges and their web based offerings at the state, national, and international levels?

A plethora of enquiries from students all over the world have been based on the advice and recommendations of former students.

As mentioned earlier, we regard accreditation as one of the vital pillars of our value proposition. Companies are becoming wiser with regard to the quality of MBAs and web MBAs. In more cases than not, accreditation becomes the benchmark that governs whether an employer will sponsor a student.

CEO

Online MBA

In more cases than not, accreditation becomes the benchmark that governs whether an employer will sponsor a student. reputation is also key. At the end of the day we are providing excellent value for cost and it shows. In this connection, our students are our best spokespersons.

Can you expand on the industry experience that your online cohorts bring? How much time in business and what levels of employment are represented by your participants?

Our average student has about 11 years of business experience and seven years of management experience. They are at that transitional stage whereby they are seeking to move into roles with a greater degree of management focus. Some of the feedback surveys from alumni reveal that, first and foremost, they learn from each other. In one recent survey, a staggering 83% of the respondents agreed strongly that the programme curriculum helped them to excel in the work place.

Quality and Affordability

With the high prestige of some business schools, and throw away insight such as ‘you get what you pay for’ could you tell CEO how the Georgia WebMBA figures when compared to other offerings? Would it be fair to say that your students get a bigger bang for their buck, while their peers may end up with less than they bargained for?

In the USA, a public institution will often charge an in-state student one rate and an out-of-state student a different rate. We charge all students one rate: it matters not whether you live in the state of Georgia or India. Consequently, our price structure more accurately reflects the cost that we incur in delivering the programme. Of course, this is a business of sorts and we are in the business of running this programme profitably. Today, with the help of colleagues and the partnership of the six schools, we have been able to do just that. I hasten to add that price is not the sole concomitant, for although the people who take our programme will mention price,

CEO

The course delivers focus on both traditional and soft skills, from Managerial Accounting and Finance through to Human Behaviour in Organisations. Could you delineate how web delivery rehearses the practice of soft soft skills?

I would say categorically that the ‘soft skills are not soft anymore.’ Written presentations continue to drive business results. Our faculty use fixed modalities of teaching, which recognise that even the hard skills need to reflect corporate and customer cultures, and increasingly, wide spread communication and people management.

The course began with a mostly North American composition. How has this developed over the years, and how will the university alliance draw in more varied participants to account for and equip students in an increasingly globalised business environment?

As mentioned earlier, our best recruiters are former students. Over the 10 years in which we have been operating, early graduates of our programme have advanced in their careers: and as they move beyond the confines of the US and out into the multinationals, they have proven themselves to be excellent ambassadors for our programme. A plethora of enquiries from students all over the world have been based on the advice and recommendations of former students. In addition, our six schools all have their own specialities, e.g. here at Georgia Southern University and Kennesaw State University we have strength in organizational behaviour: we share this with Kennesaw University, who has an award-winning faculty. The University of West Georgia has a strong banking programme so the

finance courses are typically taught by one of their faculty members: Georgia College and State University has a very strong quantitative orientation, Valdosta State University has an excellent accounting programme; and then Columbus State University, our newest addition to the consortium, is strong in organizational leadership. Turning specifically to the way in which we operate; because of the support of the University System of Georgia, we are able to share common student records systems and other commonalities within our infrastructure. We do have one lead school and that is Georgia Southern and, as such, we manage fiduciary and some of the higher-level administrative responsibilities. In this way, working together as consortia to deliver and administer the programme is rather seamless.

Could you outline the prospects for the future of the Georgia Web MBA?

We are looking at three key strategic directions for our programme. Our first goal for the future is to increase the quality of our incoming students. We continue to have more and more enquiries, and that enables us to be even more selective about whom we accept on the programme. Increasing the quality will have the added bonus of enriching the experience for all of our students Secondly, we want to increase enrolment, but not greatly. We envision moderate growth, rising from our present level of approximately 300 students to 400 over the next few years. But our goal is not to become the biggest online programme, but more to become one of the best providers of MBA online education. This brings us to our third goal, which is to make the online experience feel as much like the face-to-face experience as possible. To address these goals there are plans in the pipeline upon which we cannot elaborate at this time, for obvious reasons. Suffice it to say that there are a number of things we do that we think are special, and our students tell us that they appreciate that. We shall continue on this rewarding path. 

Biographies: ★★ Dr Ronald E. Shiffler is the Lead Dean of the Georgia WebMBA Programme and the Dean of the College of Business Administration at Georgia Southern University. ★★Dr Joseph S. Bocchi is the Executive Director of the Georgia WebMBA Programme.

European MBA Review

Jean-Christophe Bedos on LBS » and this enabled me to cope throughout the hard times of the first, demanding term. So my commitment to the school not only became rational, but very emotional too. It’s a community – I know London Business School prides itself on that – and I’ve experienced the true reality of it.

The compulsive joy of learning

Jean-Christophe Bedos is Chief Executive Officer of luxury goods company, Boucheron. He explains how studying on London Business School’s Sloan Masters in Leadership and Strategy transformed his career.

For the first time in my life, I experienced the almost compulsive joy of learning.

CEO

A programme for experienced students I was marketing director of Cartier in France when I decided to apply to London Business School in 1998.That was the time of the first e-commerce revolution, and I felt something was happening to the world that I wanted to be part of. After 10 years’ work, and having already achieved a director’s position, I was too mature for an MBA and Sloan corresponded specifically with what I was looking for – a one year programme for more experienced students. I felt I needed ‘the MBA for grown-ups’ as they used to call it. A week into the course, my wife fell ill and needed extensive treatment. I considered quitting to take care of her, but what I remember is that my classmates and the friends in my study group were immediately very supportive. The head of the programme was also extremely supportive

From an educational point of view, I had made a very important career decision. I was self-sponsored, and I had effectively bought a year of my life, quit my job and paid for a year off. I decided to learn as much as possible to get the most out of it, so I went for subjects like strategy dynamics and corporate finance that I hadn’t been exposed to before. I also enjoyed improving my areas of strength - marketing and brand management. I was 35 and took to learning like a hobby. This was due to the very high quality of the teachers we had, but also the quality of the students – you learn a lot from your colleagues. Being part of London Business School’s community is something that opens your mind. Because I had an experience of great fun and joy whilst being taught at London Business School, learning wasn’t boring or a burden or duty. Before, I had never had the curiosity to buy business books, but afterwards I did, and still do, in order to learn more, to know what’s happening. For the first time in my life, rather than having to work just to pass like you do when you’re 18 and studying is a duty, I experienced the almost compulsive joy of learning.

A strong level of confidence Before Sloan I was a specialist in marketing and brand management. After Sloan I was a new product; I was repackaged. I was someone who had the ability to be a general manager with a very strong level of confidence in business matters. If you’re a specialist you may have insecurities outside of your specialism, but after Sloan I really felt completely boosted by the level of business culture and know-how that was necessary to approach a new career move. In many areas, such as corporate finance and strategy dynamics, London Business School is world class, so it’s not just that you gain confidence; you have a high level of competence. Immediately after finishing the programme I

London Business School MBA Programmes for senior executives at London Business School SLOAN MASTERS IN LEADERSHIP AND STRATEGY

Before Sloan I was a specialist in marketing and brand management. After Sloan I was a new product; I was repackaged. I was someone who had the ability to be a general manager with a very strong level of confidence in business matters. became an executive manager to the CEO of the Richemont Group, and just two years later I was appointed general manager. Within another two years I became CEO of Boucheron – my current role.

A long-term bond London Business School has gained very high international rankings since we left, so we, as alumni, benefit today not only from the programme 10 years ago, but also from what the School does today in terms of our employability. We still owe them for this heritage. I really feel that today’s Dean is doing such a fantastic job. He’s so charismatic, dedicated and competent

that he deserves to be supported by the alumni. My bond with the School continues to increase. We had our 10-year reunion this year, and I felt I had to do something for the School, so I volunteered to organise the class gift. I started six months before, campaigning amongst my classmates and asking them to donate to the school. We achieved a record, with a 95% participation rate out of the Sloan 2000 class of 60 people, and we raised in excess of £86,000 - enough to open a term chair in economics in memory of one of our lecturers, Paul Geroski. It’s not just about what I learnt 10 years ago. It’s about being active today in a community where I still feel I belong. 

BUSINESS SCHOOL PROFILE

The Sloan programme is designed for experienced senior managers and is one of only three business schools in the world to offer the prestigious degree. Sloan students at London Business School are rich in diversity, coming from all around the world and from a wide range of job functions and industry sectors. Working in diverse study groups, they gain in-depth knowledge of international management and business practice from the perspectives of many different cultures and industries. On completing the programme, Sloan students are equipped with the latest business management tools and knowledge, and a truly global network of over 30,000 London Business School alumni spread across 120 countries.

PROTEUS In this six-day residential course, Proteus provides top professionals and leaders from organisations around the world with the time and space, and the peer-to-peer experience, to examine deeper and wider questions about their role and that of their organisation.

SENIOR EXECUTIVE PROGRAMME Driving corporate performance has become increasingly complex. Balancing strategic priorities, leading effective teams and establishing competitive advantage are critical to success. London Business School’s Senior Executive Programme shows participants how to manage these competing priorities by focusing on three fundamental areas of organisational challenge: strategy, leadership and transformation. It challenges them to create a successful future for themselves and their organisation.

London Business School is one of the world’s leading business schools and is currently ranked number one globally in the Financial Times’ full-time MBA (Master of Business Administration) rankings. The School offers a fulltime MBA, Executive MBA, Masters in Finance, Masters in Management and PhD programmes, plus a portfolio of over 30 executive education open programmes. London Business School also custom-designs programmes to meet the specific needs of individuals and their organisation.

CEO

Westminster business school Westminster Westminster mba for the real World business businessschool school

mba mba real World Makefor timefor to the gain the anreal innovative andWorld practice focused MBA from

Westminster Business School, one of the biggest schools based in the heart of London. MakeMake time to time gain to an gain innovative an innovative and practice and practice focused focused MBA MBA from from Your career will thank you forofone it.theofbiggest Westminster Westminster Business Business School, School, one the biggest schools schools basedbased in in the heart the heart of London. of London. To find out about our excellent MBA career services, networking Your career Your career will thank will thank you for youon it.for it. opportunities and hands experience you will get with an MBA from Westminster Business School visit To find Toout findabout out about our excellent our excellent MBA MBA careercareer services, services, networking networking opportunities opportunities and hands and hands on experience on experience you will youget willwith get an with MBA an MBA from from Westminster Westminster Business Business School School visit visit

Westminster.ac.uk/WBS

Westminster.ac.uk/WBS Westminster.ac.uk/WBS VISION STRATEGY OPPORTUNITY VISION VISION STRATEGY STRATEGY OPPORTUNITY OPPORTUNITY

Westminster MBA

The ForwardThinking MBA Amadeus Finlay talks to Susan Balint »

The Westminster MBA is divided into three phases, ‘The Fundamentals’, ‘Integration and Application’ and a dissertation. Kindly expand upon these academic approaches.

At Westminster we believe that CSR is an essential part of any company’s business model as well as one of the most important up-to-date elements of modern business.

Well, as you know, the MBA is designed to give experienced middlemanagers the skills, knowledge and confidence needed to operate at the highest levels of business. On our MBA, as with most, students come from a variety of backgrounds. Therefore, we must ensure, and very quickly, that there is a common level. This is achieved in the Fundamental Phase. The term ‘fundamental’ itself means that we have looked at the fundamentals of business, i.e. accounting, marketing, the economy etc. in order to provide a thorough grounding in each of these disciplines. We also ensure that students have the vocabulary and confidence to speak with senior professionals. We then move onto ‘Integration and Application’ where our students are introduced to complex problems they will encounter in their actual working lives. In this section, therefore, we take real-life casestudies and analyse them from different perspectives. The students are then required to come up with realistic business decisions - senior managers, to a large degree, have to make decisions on the spot, often with inadequate information and time constraints. It is designed, essentially, to demonstrate to our students the trade-offs and multidimensional issues that constitute the modern workplace. These two areas really cover the entire teaching structure of the MBA, but the third part, the dissertation, is a substantial piece of individual work that each of our students will complete towards the end of their time at Westminster. We encourage them to select a work-related priority, such as a management issue or a strategic objective, and to come up with a fully costed solution or set of recommendations. It is important to note, however, that as part of the AMBA accreditation, we are expected to fulfil certain academic objectives and course stipulations, hence the layout of the programme as highlighted above.

CEO

European MBA Review

If the successes of previous graduates are anything to go by, then prospective students can hope for a full realisation of their career aspirations.

Westminster prides itself on being ‘forward-thinking’, but what does this mean in the practical day-to-day running of the University?

What is the purpose behind including a week-long international trip?

Because business is global, we include a studytrip to encourage students to question stereotypes of different countries and to recognise there are different ways of doing business, different philosophies and approaches other than ‘the Western way.’ Thus, to be successful in global business, students need to recognise the importance of understanding different cultures. The international study trip offers students a choice of different destinations. This way the students can focus on those elements they would like to discover about other cultures and expand their horizons as they feel fit. On the trip we visit companies, dissect problems and meet with senior executives and consultants. There’s also an academic element that explores the cultural and historical side of the trip in order to provide further depth to the experience. It is not a holiday, but a very demanding international exercise. Saying that, our students like to work hard and play hard too!

What is the ‘Westminster Advantage’ and what benefits does this bring to students?

It is our philosophy and underpins the objective of the MBA and how we deliver it. We have very small cohorts and we deliberately keep them small in order to attract only the highest quality students and to encourage peer-learning. At Westminster we feel that peer-learning is incredibly useful for several reasons. Firstly, each individual learns from his or her own successes and, secondly, each individual can learn from the successes of others in their social and academic networks. We distance ourselves from the lecture-seminar format at Westminster. Consequently, the course has been designed to be very interactive. In addition, we want the faculty to be viewed as ‘facilitators’ rather than seniors of the educational hierarchy.

CEO

On the MBA, our faculty must expose students to the latest thinking in business and wherever possible ensure that they are up-to-date with the most current events in the world of business. As faculty, we are always seeking to improve our programme and make our interactions with students more relevant. As a result, we meet as a unit on a frequent basis to ensure that our thinking and practices are up-to-date.

With respect to the successes of previous graduates, what does the future hold for an MBA student at Westminster?

Well, if the successes of previous graduates are anything to go by, then the answer would be a full realisation of one’s career aspirations. Obviously, anybody who enrols in the MBA at Westminster has aspirations of working in business at a senior level and a whole host of our alumni have progressed to such heights.

What is the objective behind the residential weekend?

It is an integral part of our leadership and professional development module and there are a number of objectives behind it. ❯❯ An opportunity for students to spend more time with their cohort members.

❯❯ To undertake and become involved in activities like, assessment centres, leadership activities and outdoor pursuits. ❯❯ To tax and stretch the limits of the students in a variety of areas.

❯❯ To practice social skills and practical ideas that will help our students become successful senior executives.

The modern business world is becoming increasingly focused on the value of Corporate Social Responsibility. What is Westminster’s perspective on this essential element of contemporary business?

We have taken CSR and evolved it. We now study the areas of social, corporate and ethical

responsibility under the umbrella of the traditional CSR model. At Westminster we believe that CSR is an essential part of any company’s business model as well as one of the most important up-to-date elements of modern business. Thus, we stress the importance of incorporating CSR within an MBA programme as well as dissecting it into its smaller component parts. We also encourage our students to get firsthand experience in CSR and the way we achieve this is through the module, ‘Social Corporate Entrepreneurship’. As part of this module our students go to Kampala, Uganda, for two weeks where they work as management consultants with charities there. This ensures that a term that is so easily banded around becomes a striking reality in a place that demands attention to what CSR actually entails.

Thus, to be successful in global business, students need to recognise the importance of understanding different cultures.

Westminster is a truly international university and has a host of international partners. Kindly expand upon these connections and the advantages that they bring to the MBA student.

We are actively developing collaborative partnerships with other AMBA institutions across the globe. One is with Mirbis in Moscow and the other is with Guangdong University, China. We work with these institutions in order to develop common modules which can be offered at both institutions as well as engaging in student exchanges and visits. We are particularly proud of our links with China as it is arguably the new power on the global stage and can teach students things not available in text books. As for Moscow, we are seeking to establish a Consortium MBA in order to maximise the learning opportunities for our students.  Biography: ★★Susan Balint is the Director of the MBA programme at The University of Westminster’s Westminster Business School.

Spotlight: Zurich

SPOTLIGHT: ZURICH

Education Destination: Zurich is widely recognised as a leading global city and among the world’s largest financial centres.

CEO Magazine Why study in Zurich? Well, there are a plethora of reasons, some of which we will explore in this article.

The Facts Often referred to as a lifestyle capital on the water, Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located 409 meters above sea level at the north-western tip of Lake Zurich on the Swiss central plateau. While the municipality itself has approximately 380,000 inhabitants, the Zurich metropolitan area is an urbanised area of international importance constituted by a population of nearly 2 million inhabitants.

History

Transportation in Zurich

Zurich was founded as a Roman customs post Roman name: Turicum - on the site of what is now Lindenhof in the year 15 B.C. During the Middle Ages Zurich gained the independent and privileged status of imperial immediacy and, in 1519, was the place of origin and centre of the Protestant Reformation in German-speaking Switzerland, led by Ulrich Zwingli.

The public transportation system is a dream, in fact, Zurich is famous for its highly efficient, clean and safe public transport system, owned and managed by the Zürcher Verkehrsverbund (ZVV) which covers the entire canton of Zurich as well as Rapperswil-Jona in the canton of St. Gallen and Pfäffikon SZ in the canton of Schwyz. The network includes trams, buses, S-Bahn (suburban trains), cable cars and boats.

Getting There Zurich is a mixed hub for railways, roads, and air traffic. Both Zurich Airport and railway station are the largest and busiest in the country. The airport is based in the community of Kloten and is just 12 minutes by train from central Zurich.

Business Zurich is widely recognised as a leading global city and among the world’s largest financial centres. Naturally, the city is home to a large number of financial institutions and tier-one banks. In fact, according to the Swiss research institute, BAK Economics, Zurich is the most attractive region for conducting business in Europe, and it is easy to see why. Low taxes, the ability to foster innovation, great accessibility and flexible labour laws make for an attractive proposition.

Lifestyle and Culture

Numerous surveys indicate that, when it comes to quality of life, Zurich is number one.

Numerous surveys indicate that, when it comes to quality of life, Zurich is number one. However, Zurich is also one of the wealthiest cities in Europe, if not the wealthiest. An impressive number of museums and art galleries can be found in the city, notably, the Swiss National Museum, built by Gustav Gull in 1898 in honour of the 50th anniversary of the first federal constitution, housing the country‘s most comprehensive collection of artefacts pertaining to its cultural heritage and the Kunsthaus, the museum of fine arts. In conclusion, it is easy to see why Zurich is so much more than fine time pieces, chocolate and banking. 

CEO

European MBA Review

Without an understanding of the other culture, you cannot build up trust, which is a prerequisite for co-operation required to make your business successful.

Tomorrow’s

BUSINESS LEADERS

Esme Christie talks to Andrea Schenker-Wicki and Mario Ramo » The Programme

The University of Zurich promotes its EMBA as being a ‘comprehensive view of management problems.’ Kindly expand upon this and what this entails for the student and the programme. Prof. Schenker-Wicki: Executive MBA students

work and study at the same time; we provide the setting that makes it possible to combine professional, family and academic life. Our values lie in the direction of producing leaders for business and society in a globally connected world. That means we want responsible people who are aiming at doing sustainable business and creating long-term values for their organizations all over the world. We do not want or need managers who solely manage, or know which toolkit should be employed. To reach our objectives we carefully assess our candidates and we have designed a curriculum which allows the students to create long-term values.

CEO

Kindly discuss the Introductory Curriculum, Core Curriculum and the Diploma Curriculum formats and explain the academic merits of each. Prof. Schenker-Wicki: We have what we call

our “Executive MBA House”. We begin with the pillars - fundamentals of the economy, statistics and systems theory. If the pillars are solid, then we can build the walls, which consist of classic subjects such as finance, marketing, organisation, management leadership and production logistics which can be described as core competences. These competences are our internal strengths, but we also have to be aware of external factors - economic and institutional restrictions, for example. These restrictions and our internal strengths or core competences allow us to appraise what kind of business is possible from the internal and external point of view.

Zurich MBA

Lastly, to top things off - quasi as the roof of our Executive MBA house -, we have intercultural management, which is becoming more and more important as the world gets smaller. We also delve into value discussion and ethical leadership because you have to decide what kind of business is economically and ethically suitable and sustainable for your organisation. Do you want to execute just any kind of business or do you have values banning a certain kind of business? This is how we have built up the programme, with the pillars, the core, the walls, and then at the end, the value discussion – the roof. Mario Ramo: This also explains the wide range

of topics that we cover – from general management to marketing strategies - you have to bring these different topics into that Executive MBA house to make it complete.

Given the evolutionary correspondence between business and business education, how does the University manage to keep its EMBA ‘on the pulse’? Prof. Schenker-Wicki: We maintain several

sources of new input. First of all our academics network, which is research driven and fundamental to our development. This is where we find evidence-based results on the concepts that are proven to be good. Second, we are very well-embedded in the local and the national business networks. Third, our students and alumni also provide input. Each course is evaluated, the evaluations are discussed with the students, and we procure propositions on how to make things better. Fourth, from time to time we do structured interviews with the business world, especially before a major revision of the programme. The university needs to know what the economic environment, as well as industries, expect from highly-educated, highly-experienced people. In this, we are quite scientifically-driven and I would not propose a major revision of the programme without knowing if I am on the right track, because the EMBA market is very competitive. Mario Ramo: Our focus on

intercultural management helps to differentiate us from other EMBA and MBA programmes in the German-speaking part of Europe. The feedback we receive from our business or alumni networks is very positive and encourage us to follow this track. We developed intercultural management for different countries including the U.S. and emerging markets, Brazil, Russia, Latin America, the Middle East, Africa - which will become increasingly important in the years to come – India, China, and the Eastern part of

Europe, which in terms of business culture is different from the central part of Europe. We only work with teachers who are from those business cultures, not teachers who just learn things from books, and have close ties to the economy which accounts for the quality of our intercultural management modules.

What are the typical characteristics or highlights of the programme at Zurich compared to those of its rivals? Mario Ramo: First, on a formal level, the pro-

gramme structure, because it is precisely tailored to working professionals. Consequently, absence from work is limited to two working days every two weeks for a total duration of 18 months. Second, with regard to contents, the Executive MBA programme at the University of Zurich sets an international and intercultural focus by dedicating about 30% of the curriculum to issues related to intercultural management. The main objective is to provide students with a deeper understanding of the broad international context to which executives need to be sensitive when making global business decisions. Prof. Schenker-Wicki: Precisely. Without an

understanding of the other culture, you cannot build up trust, which is a prerequisite for co-operation required to make your business successful. A highlight of the programme is the study trip to the School of Management at Yale University and the Fudan University in Shanghai. The teaching style and the “Yale spirit” as well as the Chinese way of doing business in Shanghai are truly unforgettable experiences.

Student Life

Zurich is one of Europe’s most geographically central cities as well as one of the world’s most important locations. As a result, does this not only mean you have a large international student core, but also that your students can benefit from a wide range of shared knowledge? Mario Ramo: The studentship is internationally

composed but a high percentage is still coming from the German-speaking part of Europe. This is mostly due to the time setting of our programme which is less suitable for students from overseas. But, we have a wide range of industries which our students are coming from. This makes for very exciting discussions and an exchange of knowledge is guaranteed.

Does the structure of the EMBA programme at Zurich encourage student interaction and the nourishment of practical social skills? Prof. Schenker-Wicki: EMBA students learn

from each other as much as they learn from professors, especially at that age and with so much collective experience. So interaction is high and guaranteed in each module. With respect to social

CEO

European MBA Review

The university needs to know what the economic environment, as well as industries, expect from highly-educated, highly-experienced people. skills, we do not have a specific module on this topic, per se, but we have the Information and Communication module with video-feedbacks and simulated press conferences. Besides, we also offer voluntary coachings in the realm of personal and career development. Our faculty is quite reluctant with respect to a pure module in social skills. The reason is the academic background of the program. However, without social competencies, you will never move to a higher position, or efficiently work with other people.

schools (AACSB, EQUIS). Additionally, the University of Zurich offers a wide range of interesting topics from arts to life science which could be studied and last but not least the city of Zurich has a very high quality of life, one of the highest worldwide.

trial placements for our EMBA students due to their age and senior positions. Our EMBA students are thirty-nine-plus years old in the average and are senior executives. We are neither doing site visits with them in Switzerland. We travel to India and China and do a lot of different site visits in Shanghai and Hyderabad, but there is no need to do so in Switzerland.

Aside from the MBA programme, what would attract a student to study at the University of Zurich? Prof. Schenker-Wicki: I think we should point

out the high reputation of our faculty; from a research point of view, we are the best faculty in the German-speaking environment and we have two international quality labels for business

Practical Business Exposure

Does the student at Zurich benefit from industrial placements, site visits and exposure to the realities of the business world? Prof. Schenker-Wicki: We do not offer indus-

When you have a wide range of students and everyone has a different point of view, it makes for a very exciting discussion and an exchange of knowledge is guaranteed.

CEO

Zurich MBA

The variety of industry profiles in the classes provides course participants with an ideal forum for the exchange of know-how and valuable insights into other industries.

Biographies: ★★Prof. Andrea Schenker-Wicki is the Dean for the Executive MBA programme at the University of Zurich. ★★Mario Ramo is the Managing Director for the Executive MBA programme at the University of Zurich.

Mario Ramo: With respect to China and India, we are especially interested in how Swiss companies do business there, how they manage to get along with the government, the legal environment, things that are interesting and important when you are abroad.

Does the University ensure that it has an intake that brings a wide range of business experience to the classroom? Mario Ramo: The fascinating thing is the very

heterogeneous class composition. The variety of industry profiles in the classes provide course participants with an ideal forum for the exchange of know-how and valuable insights into other industries. Preparing a new class we always make sure that the composition is broad enough. Fortunately, we never had problems to do so.

With the number of worthy competitors increasing by the year, how has the University of Zurich managed to continue to compete at the highest level? Prof. Schenker-Wicki: Thanks to the Parliament

of the Canton Zurich, we are in an enviable situation, where we have quite sound finances and are able to compete with other institutions. This is true for the whole university and especially for our faculty which has been in the strategical focus of the universiry board in the last years. This made it possible to hire a number of internationally highly reputed professors.

Do you see the crest of the MBA wave peaking and declining, has this process already begun or, indeed, do you feel it ever will? Prof. Schenker-Wicki: In the future there will

be a lot more people in the tertiary educational system than there are today especially with respect to the emerging markets such as China and India. But also in the Western societies we see the political will of different countries to have more people in the tertiary education system. Therefore, the MBA market is still not a saturated market; it is a growing market. Mario Ramo: We also surmise from our information events that the numbers are continually growing.

Looking to the Future

You are a highly innovative institution, as such, what can new and existing students expect from the University, in terms of programme developments, over the next 12 to 18 months? Prof. Schenker-Wicki: We have restructured

Intercultural Management because we had to enlarge the topic. The focus on Asia, Russia and South America was too narrow so new regions and countries such as Africa, especially North Africa and Indonesia, for example, had to be included in the curriculum. Further revisions will be made to Leadership and Ethics, restructuring and adapting to the current environment. Continuous adaptation is key!. And last but not least

we are evaluating new regions, especially in the emerging countries, for our study trips.

With increased competition in all areas of professional life, do you feel that the growing number of people opting to undertake an MBA course will detract from its value as a consequence? Mario Ramo: The growing number of

people interested in an EMBA is basically associated with the increasing need of any employee for life-long learning in order to stay up-todate. The discussion about the detraction of the value of an EMBA due to this development has been going on for many years. So far, we have not seen any inflation on the labour market, at least not concerning our offerings. However, what we observe is that, the labour market is beginning to differentiate more and more in terms of the institutions that offer an EMBA: The EMBA title of a prestigious institution has a higher value than that of a rather unknown institution operating more on a local basis. Prof. Schenker-Wicki: At the end of the day, the important question is, where did you get your title from? In the German-speaking part of Europe there are approximately 200 EMBA or MBA programmes, so competition is tough. We are ambitious and want to be one of the best in Europe in alignment with our Faculty. 

CEO

European MBA Review

University of Zurich: Student Perspectives Esme Christie talks to Marcus Gerl, Markus Borkenhagen and Marc Siegenthaler »

Some jest that after eighteen plus years in education, that is more than enough for a lifetime. What, therefore, inspired you to return to the books after being in a successful job for the past number of years? Marc Siegenthaler: A greater number of inter-

national firms have moved into Switzerland over the last couple of years which has led to increased competition as more and more experienced people join the workforce. Consequently, you have to be prepared to compete in the labour market. I think the Zurich EMBA provides me with a great opportunity to compete over the next 10 to 15 years.

Marcus Gerl: To create a bigger horizon, push myself a little bit further, compete in my company and get one or two steps higher. The idea, nowadays, is that you should continue to learn, unlike a couple of decades ago when you went to university, worked and never really studied again. I want more input, I want to be updated, I want to see how things have developed. Personal development was one of the main reasons I came back to education.

How did you successfully manage the dual workloads? Marcus Gerl: In my life, there is, undoubtedly, a

third aspect, and that is family. I would strongly recommend that anyone who wants to do a programme like this talks to his or her partner before doing so, because without family support, it’s very tough. Most of us are roughly 38 to 45 years old and have children - it is not so much the studying and the job, but the triangle that makes it difficult.

What were the thoughts of your employers on this dual direction: did they worry about there being a negative impact on your productivity? Markus Borkenhagen: I have a clear contract

with my company which states that I cannot leave for the next three years. We have always kept the lines of communication open and, given that my productivity has been good, I have not had any problems.

Marc Siegenthaler: I also have to stay with my employers for at least another two years. I had support in terms of my company paying the fees, but I didn’t get that much time to spend on the courses here. However, during classes, we still had the opportunity to continue working so, if you had to go out to make calls, it was fine. It’s different from a normal class. Marcus Gerl: It was clearly stated by my

company that it was absolutely unnecessary to do this course, but if I really insisted, it would be my obligation, as long as I made sure that the business would not suffer. I would say a company usually has mixed feelings about this because, during the period of study, you have less concentration on the job and, afterwards, you are more attractive to the competitor. Furthermore, if you stay with the company, you are in a position to negotiate a better salary.

What was it about the Zurich EMBA that made it stand out from its rivals? Marcus Gerl: The pricing is very competitive

and the reputation of the Zurich EMBA is very good indeed. I could have spent double attending another university but without the reputation that this school has.

CEO

University of Zurich: Student Perspectives Student Biographies: ★★Markus Borkenhagen holds a university degree in engineering from the University of Erlangen-Nuremberg in Germany and a PhD in Material Sciences from ETH Lausanne in Switzerland. Markus is a Director (QA RA) and a Member of the Management Board for Stryker Osteosynthesis in Switzerland. ★★Marc Siegenthaler holds a Bachelor in Business Administration from the Bern University of Applied Sciences in Switzerland. Marc is the Head of the Budgeting Division at the Federal Office of Personnel FOPER in Switzerland responsibility for the development of bases for planning and budgeting of personnel expenditures at federal level. ★★Marcus Gerl holds a Master of Science in Business Administration from the University of Münster in Germany. Marcus is the General Manager of Time Network Ltd. in Hong Kong and Time Network Swiss GmbH. Marcus is also the General Manager of European Brand Business for Chung Nam Corporation, Hong Kong and a Member of the Board of Directors for Roamer Watch Co. S.A. in Switzerland.

The courses on international management were important to me because if you are in a position, like I am - where you are dealing with 60 different cultures - you have to acquire an understanding of how people behave and do business in certain ways. Markus Borkenhagen: It’s very renowned. The

structure of the programme - being in blocks of two weeks - makes it easily manageable. What attracted me the most were the two foreign trips to China and the U.S.; the modules of international business seemed totally different from other programmes.

Marc Siegenthaler: The university has a good reputation and the right accreditations. I think that Zurich as a city is world-famous. It’s in the middle of Switzerland and you can get from Bern, where I live, to Zurich, in an hour (by train), so you don’t have to spend a lot of time travelling

Did you learn any non-business skills on the course, such as enhanced interpersonal abilities? Marc Siegenthaler: In your own firm, people

know you; they might not be so open because you are the boss, so getting feedback from forty of your peers was what I found interesting. Markus Borkenhagen: We are leaders in our businesses so learning how to get along with one’s peers and immersing oneself in this group dynamic was an interesting experience.

Before you began studying, what benefits did you anticipate the EMBA would bring to your career path? Marcus Gerl: Career and money are considera-

tions, but networking was more valuable to me.

Markus Borkenhagen: I wanted to improve my career and salary. Being an engineer, I have to make business and technical decisions. My dream was to get into a senior leadership role, therefore I wanted tto know if I really liked the pure business side of things, and I wanted a better understanding. 

4 UNI

For nea has bee of toda diverse UNIQUE MBAS. 10 SPECIALIZED MASTERS. continu UNLIMITED POSSIBILITIES. an ever

For nearly a century, the Robinson College of Business has been tailoring business education to the needs of today’s global business professionals. With such a diverse range of business education offerings, Robinson continues to provide students around the globe with an ever-expanding range of opportunities. 4 UNIQUE MBAS. 10 SPECIALIZED MASTERS. UNLIMITED POSSIBILITIES. For nearly a century, the Robinson College of Business has been tailoring business education to the needs of today’s global business professionals. With such a diverse range of business education offerings, Robinson continues to provide students around the globe with an ever-expanding range of opportunities.

robinson.gsu.edu

European MBA Review

Transformational Esme Christie talks to Prof. Andreas Fischer »

How has your role as rector evolved and adapted with the evolution of the business environment?

Since our inception in 1833, we have been a state university and, up until 1999, we were part of the cantonal education system whereby all decisions were taken by the minister/secretary of education. However, in 1999 a new university law came into force, and this gave us autonomy, a global budget and an executive committee. So, to some extent, the role of the rector is now one of a CEO. Universities, in general, have a strong tradition of independent thinking at all levels, so it is expected of the executive board to set certain aims and to focus the university, but to do this with the needs, wishes and strategies of the faculties in mind. We lead, but with the knowledge that we are leading an organization of experts. As for the role of the rector, I do not feel that it needs changing. I hope that so far I have filled my role adequately by combining the functions of leader and negotiator. Both are necessary, for example, when the aims of the various faculties within the university are in conflict.

Have you been able to establish, develop and then maintain relationships with students and alumni?

Continental European universities do not have a longstanding tradition of alumni organizations. At the University of Zurich we have a two-tier alumni organization which only dates back five or six years. We strongly encourage faculties and, in some cases, departments to set up their own, separate alumni organizations. Alumni want a link back to the university, but they also want to meet likeminded people in their field. The second tier is «UZH Alumni» (University of Zurich alumni), an umbrella organization which provides certain services, such as the management of addresses, discounts, networking opportunities and so forth.

Kindly discuss the faculty at the university.

We see ourselves as an international university, so we advertise all of our professorships globally. Half of the five hundred and twenty-strong faculty are non-Swiss; the majority of these are German, because German is the language of our

CEO

education, but about 15% are nonGerman internationals. I would like this latter segment to grow, because in addition to the expertise that our international professors bring to the table from their chosen fields, they also bring a different culture. This can only be enriching for the development of the university.

What is the university’s strategy in order to keep Zurich evolving and moving forward in line with changes in the world of business and science?

The University of Zurich is Switzerland’s biggest university and we are well-placed internationally. We are a comprehensive research university with strong programmes at the Bachelor, the Master and the PhD level. All our professors are researchers as well as teachers.

How is the University of Zurich perceived by the local business community?

Positively. The majority of our funding comes from taxpayers’ money. I would like to see this continue, as it is a sign of the community’s recognition of what we do and because it also helps us to keep tuition fees low. I would also like us to keep abreast of international developments, that is grow as a cantonal (state) university, but at the same time attract more funding from foun-

dations and the local business community. This will enable us to develop centres of competence and research priority programmes. We plan to establish a university-wide foundation as a holding pen for money that we raise in this fashion.

To what extent does the university benefit from its relationship with external business?

At present, for example, about 20 professorships (mostly assistant professorships) are funded privately by companies and foundations. These sponsorships have to accord with our strategic aims, and we maintain complete freedom over whom we appoint, so the relationship is extremely beneficial.  Biography: ★★Prof. Dr Andreas Fischer is the President of the University of Zurich.

Lorange MBA

Esme Christie talks to Peter Lorange » The Lorange Difference

You are developing the business school of the future. What sets the Lorange Institute of Business Zurich apart from the ‘traditional’ business schools operating within the MBA space?

We have no permanent faculty, but rather a stable network of faculty from other institutions. Thus, the cushion of tenure is removed with respect to permanent / semi-permanent employment. Furthermore, the business of ownership by specific faculty members of specific courses is also removed. In so doing, we are able to move away from the ‘me culture’ and focus on what ‘we’ can achieve as a collective. Result: Higher teaching quality, more cutting-edge relevance. The development of our administrative hub will take more time. At end of the day, we want to attract a staff that supports our mission, with little bureaucracy and a lot of speed, and we are making good progress here too! More use of outsourcing seems to work!

Innovation

The structure of the Lorange Institute of Business Zurich is very ﬂat. How does this benefit you?

We are able to cut down on wasteful red-tape, procedures and excessive meetings. Given recent market conditions, speed and agility are essential. You have to be able to react to the needs of the

We have no permanent faculty, but rather a stable network of faculty from other institutions. Thus, the cushion of tenure is removed. market in a timely fashion, and our structure allows us to do this. A perhaps small, but at least symbiotically important point: I have personally given up my oﬃce – I am now sitting at a large “trading table” in the Institute’s lobby. Result: accessibility, visibility, speed!

The Course

The Zurich Living CaseTM method is an approach that is unique to the Lorange Institute of Business Zurich as well as being a core component to the course structure. What does it entail and how does it benefit the student?

This approach is a core component of the EMBA programme. During the Zurich Living Case projects, participants operate in teams which are supervised by faculty members. They work in selected, real-life companies on intense, fast-paced consulting projects. Typically, we have one Living Case in each of our two week blocks. There are eight two week blocks in total. The senior executives of the real-life companies involved listen to the student feedback and give their own comments.

What was the inspiration behind the ‘Sports and Entertainment Management’ element of the course and what is it about sports management that causes the Lorange Institute of Business Zurich to believe that it demands its own module?

There is significant demand for this, from sports associations - many in Switzerland - and clubs through to individual athletes that want to move in to sports management at a later date, after their active careers and, of course, sports goods manufacturers like Adidas and others.

Can you talk to us about your Master of Science options and how they relate to your MBA offering?

We have developed six Master of Science options (Wealth Management, Modern Banking, Modern Marketing, Talent Recruiting, IT focus to generate more business, Sports Management and Management in Cycles – i.e. such as Shipping), which can then be expanded later into an MBA. This means: specialisation first (to have a better chance of securing a job) – and then, generalisation (the E-MBA).

CEO

European MBA Review

You have to be able to react to the needs of the market in a timely fashion, and our structure allows us to do this. In addition, many of the modules are offered to both executives and masters students – this mix of competences and backgrounds in the programme blocks works great!

Elaborate upon the use of computerbased business simulations within the course and why such technology is deemed suitable to be incorporated within a topquality degree programme.

We prefer to use cutting-edge computer-based simulations which allow the candidates to develop their skills and capabilities. Through this they become cognizant with the competencies needed to make rational decisions that will improve their business results. Much distance-based / web-based learning of the more fundamental introductory materials are of course done by the participants at home, prior to coming to our programmes.

Admission Standards

Certain business schools seem to be putting quantity before quality, i.e. admission standards are waning in favour of student numbers. Kindly talk to us about the admission process at the Lorange Institute of Business Zurich.

We have a stringent admission process, which in turn limits the size of our classes and guarantees the quality of the programme’s participants and future networking opportunities. Furthermore, we see our clients, both individuals and corporations, as our partners. Students receive the support and attention they need and this is achieved by ensuring that class sizes are carefully controlled. And, we expect our students to work hard! This is, after all, at the centre of a good programme like ours – let motivated students get a chance – do not deprive them of this, due to ancient or overly rigid admission criteria!

Administrative Considerations

Kindly explain the academic and degree awarding relationship between the Lorange Institute of Business Zurich and the University of Wales.

Since Switzerland is outside of the E.U., we provide students with the opportunity to acquire an additional degree from Wales using the same coursework. This has the advantage of conferring the full diplomas of both institutions upon the graduates, and makes it easier for our students

CEO

to use their academic titles inside the E.U. This involves no extra work or study time from our participants.

How does the cost of the E-MBA at Lorange compare to that of its rivals?

It is slightly lower than our rivals, but more expensive than the government-owned schools. At the end of the day, participants are paying for cutting-edge value.

Discuss the impact and vision of Peter Lorange and his unique approach to graduate study.

Speed, adaptability and flexibility - to achieve top quality and relevance these are the fundamentals of the modular approach to study. I like to think we are cutting-edge and practically relevant. At the Lorange Institute the classroom is more of a meeting place rather than the traditional space for a one-way discussion. As I mentioned earlier, we have no full-time faculty but a stable network of the best teachers from around the world who are better able to address the learning needs of executives, and who know how to structure programmes to meet those needs.

The Students / Participants

that allow participants to remain on top of their work commitments while completing the syllabus. Thus, students are able to balance full-time work and study commitments effectively. Our programme modules can perhaps be compared to high-strength vitamin pills!

The Lorange Institute of Business Zurich demands a high level of English proficiency, but what would the school’s actions be if an outstanding applicant with lower levels of linguistic competence applied? Would concessions be made?

Courses are taught in English, but we do run a few lower level programmes in German. Ultimately, our students must pass the TOEFL test. Language has not been a problem so far – and, we are highly international!

Looking Ahead

What can a Lorange E-MBA student expect to achieve once they have completed their course?

Keep in mind that most students already have jobs; the E-MBA does not represent a new career effort as is the case for many MBA programmes. And, our participants are doing well!

Being a small institution, we can counsel each student on his or her individual timetable, and the part-time programmes are designed in modules

Students seem - and appropriately so - to be more concerned than ever before with preparing themselves for the job market. Consequently, holding a generalist MBA degree might just not be enough. For this reason, we require specialisation first (one of the six E-M.Sci options), then generalisation (E-MBA)! This makes it easier for them to get a job! 

Trends in the financial and business worlds are showing that professionals have less time on their hands than ever before. How does the Lorange Institute of Business Zurich keep up with the demands of global economics in order to provide students with the time necessary to complete their E-MBA while managing an arduous workload?

With the economic downturn in mind, discuss your thoughts on the continued value of an MBA programme.

Biography: ★★Peter Lorange is a Norwegian economist. He is President and owner of the Lorange Institute of Business Zurich, formerly known as GSBA Zurich, which he bought in July 2009. Lorange has previously been President of the International Institute for Management Development (IMD) in Lausanne for 15 years and President of the Norwegian School of Management. He has taught at the Wharton School, University of Pennsylvania and at the MIT Sloan School of Management. Lorange received his undergraduate education from the Norwegian School of Economics and Business Administration, was awarded an MA degree in operations management from Yale University, and his Doctor of Business Administration degree from Harvard University. He holds seven Honorary Doctorate degrees and has written 18 books and more than 150 articles.

SBS Swiss Business School MBA

Amadeus Finlay talks to Dr Bert Wolfs »

Despite the competition, however, I can proudly say that we are the number one business school in Switzerland in terms of the most international students.

this and thus we encourage an understanding and appreciation of what this entails. Indeed, if we modernise infrastructure and address ethical issues, disasters such as the toxic floods in Hungary will become a thing of the past. Ethics are very important, when we introduced Business Values and Ethics as a course in 1999, people criticised it as a boring element of the MBA programme. But we stood firm in our conviction and now almost all MBA programmes have an ethics course.

SBS Swiss Business School Swiss Business School promotes innovation and depth in its MBA programme and has since developed a reputation around these drivers. Kindly explain the vision of the MBA offering at SBS Swiss Business School Swiss Business School.

SBS Swiss Business School Swiss Business School’s vision is concerned with where we want to go in the future and we relate this to what companies want to do. Our curriculum consists of 15 courses and at the beginning of the programme the student has the chance to choose their major. Of these, 10 of the courses are core courses in order to reinforce the understanding of the student across the board. We then develop the course to not only consider Switzerland, but the international environment as a whole so our students can conquer the whole world. On the other hand, we have to address the emerging markets where things are changing rapidly. Thus, we have to come up with an innovative curriculum and methods of teaching and that is what we bring to our classroom. Central to this is SBS Swiss Business School Swiss Business School’s Action Learning Projects (ALP), which means, for example, that the student assumes the role of a consultant, performs HR roles within a company and addresses various forms of administration. At the end of the semester the student formally presents their findings in

front of the company in question and the company decides on the quality of research and presentation. Our curriculum also changes and adapts with global economic developments and we now focus on the performance of CIVETS countries (Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa) as the new emerging market. We also come up with new ways to address these changes and have started to use the term ‘globality’ instead of globalisation in order to learn how companies in emerging markets are investing in the industrialised world. For example, when Rolls Royce was bought by the Indian company, Tata. What we try to do is develop good ambassadors who take the international values of Switzerland into industry. Ethical standards and sustainability are also essential elements to

Another key driver is to be practically oriented. In fact, such is the appreciation of this approach that we call our lecturers CEOs; Chief Enabling Officers. They must enable our students to learn new concepts and to develop their talents as well as to positively change their personality in order to allow them to think holistically and to link elements of business and finance together. We give our students greater knowledge and good ethical values. This is the new philosophy of teaching.

The Swiss MBA market is highly competitive. How does SBS Swiss Business School Swiss Business School adapt to compete in this rapidly evolving arena?

The Swiss market is exceptionally competitive and for a country with 7.3 million inhabitants, there are 64 MBA programmes. In other words,

CEO

European MBA Review

How can a student graduate with having never written a marketing plan?

we are competing with each other to death. Yet, SBS Swiss Business School Swiss Business School considers this competition exceptionally important and since we are very internationally driven our main focus is on the development of an international presence. Despite the competition, however, I can proudly say that we are the number one business school in Switzerland in terms of the most international students. At our last graduation there were 163 students and 32 different nationalities. This not only makes it fascinating to be a part of SBS Swiss Business School Swiss Business School, but is also a good representation of Switzerland as 25 per cent of the work force here is foreign.

SBS Swiss Business School Swiss Business School prides itself in being ‘international to the core’. What benefits can students expect from this value statement?

We don’t only want a class full of Swiss people; we want a class that represents the increasingly international and unisex face of the global workforce. This immediately brings a real-life setting to the classroom. In addition, we do not only wish to have lecture-based education, but peer-based learning. This allows students to benefit from the

CEO

wide-range of knowledge available to them from their peers in the classroom We also not only stress the importance of team working, but the importance of diversified, multinational team-working, because this is a realistic application and acknowledgement of the modern business environment.

While it is important to provide the student with an excellent education, there is also significant benefit in including corporate contacts to enable students to get a greater insight into the world of business. Does SBS Swiss Business School support such endeavours?

With the ALP - industry guest speakers and industrial visits are all included in the curriculum - we offer our students a great depth of insight into the business world. In addition, we organise mini-job fairs where we encourage HR managers to visit the school and address the students. This allows students and the companies in question to interact and to exchange CVs and discuss career opportunities. It is important to note, however, that SBS Swiss Business School will not work with companies that either support or use child labour. In fact, one of our main criteria is to look at and

address the ethical criteria of a company. For example, whether they have signed an ethical protocol or have a code of ethics at the company.

Kindly explain the meaning behind SBS Swiss Business School’s statement that the school is a ‘quality-driven niche player’.

We are a niche player due to our innovative nature and with innovation comes quality, as has been reflected in accreditation.

What facilities does SBS Swiss Business School employ in order to promote and facilitate distance learning?

At the outset, allow me to highlight that our distance learning is among the Top 50 as promoted by the Financial Times. We are proud to be able to offer distance learners extensive technology and thus have the facilities to place course materials online, upload instructional videos and facilitate discussions with lecturers and fellow students. In order to maintain the platform and ensure it operates smoothly, however, we have three people who are responsible for its upkeep and monitor the discussions which are going on.

SBS Swiss Business School MBA

We also not only stress the importance of team working, but the importance of diversified, multi-national team-working, because this is a realistic application and acknowledgement of the modern business environment. As a result, we take great pride in our longdistance learning and I believe that one does not necessarily need to travel in order to be able to learn. One of the issues with moving away to learn for a number of years before returning is that students find that the market has changed and they are unable to adapt accordingly. If they can learn from home while staying at work, they can keep their finger on the pulse and apply this to the working environment. This is not only of benefit to the student, but is also of benefit to SBS Swiss Business School.

Kindly expand upon the ‘case-study method’ of teaching and explain what benefits this approach brings to the student.

The Harvard School of Business must take the credit, because they first developed this successful teaching method. Having said that, the case-study

method is a useful one that fits very neatly into the overall teaching philosophy at SBS Swiss Business School. It allows the student to spend their time being involved in a ‘real-world’ application, something they will face again and again in the future. I mean, how can an MBA graduate expect to survive in the workplace if they have never written a business plan? How can a student graduate with having never written a marketing plan? How can a student have graduated without doing an in-depth literature study? Indeed, how can a student graduate without having fired his classmate? These things are the realities of the business world and without having done them in the classroom the student will not have benefitted from the course. Consequently, our graduates tell us again and again that, because of the practical approaches at SBS Swiss Business School, they feel very sure and very able in the contemporary business world.

Let us guide You to Success

MBA Master of Business Administration

EMBA Executive Master of Business Administration

FMBA Flex Master of Business Administration

DBA Doctor of Business Administration

www.sbs.edu

Given the ever-evolving nature of MBA education, what is SBS Swiss Business School’s vision for the next five years?

We will be focused on observing managerial trends and addressing how we will need to adapt our curriculum and lectures in relation to this evolving world. Not only that, we will continue to look beyond Switzerland and develop further collaborations with universities in emerging markets.  Biography: ★★Dr Bert Wolfs graduated in Roman Philosophy at the Katholieke Universiteit Leuven before gaining his MBA at UNIGE. He finished his academic study at Harvard before commencing work at SBS Swiss Business School in 2000. He is currently the Academic Dean at the Swiss Business School.

European MBA Review

The Pforzheim MBA:

Education at the Edge of the Black Forest CEO Magazine talks to Rudi Kurz, Harald Strotmann and Matthias Kropp Âť

The Programme

There is a clear and coherent relationship between the programme goals and learning objectives at Pforzheim. Kindly expand upon the nature of this connection and address the objectives of the course at the school.

Todayâ&#x20AC;&#x2122;s business world is changing at a rapid pace, the conditions under which executive managers have to act and make decisions are volatile and

As the programme is not run for profit, student fees only have to cover the operational costs of the programme. Given the high quality of the programme, the cost-benefit-relationship for students is excellent. 50

CEO

uncertain as never before. Executives and employees are confronted with immense challenges: an intensifying globalisation of economies, societies, environment and cultures, the emergence of new technologies, the prevalence of information and communication technology in our workday lives and increasing public expectations with respect to firmsâ&#x20AC;&#x2122; social and environmental responsibilities. The programme goals of the Pforzheim MBA International Management take into account that firms will only withstand future competition successfully if they are able to face these 21st century challenges head on by exploiting opportunities and minimizing risks. Companies and their executives must adjust flexibly and innovate to handle continuously changing conditions. Therefore, it is the aim of the Pforzheim MBA International Management programme to enable our students, as future managers, to meet these challenges for the benefit of their companies.

Pforzheim MBA

To achieve this, the Pforzheim MBA follows a two-tier strategy that provides our students with a distinct, competitive advantage for the business of tomorrow: an international, generalist and profound classical management foundation is integrated with the most relevant future topics: innovation management, sustainability and globalisation. Our programme goals, therefore, comprise both classical MBA goals (Business Knowledge and Management Skills, Analytical Competencies, Critical Thinking and Problem Solving, Project Management, Teamwork, Leadership, Communication Skills, Ethical Awareness) and goals that are focused on the business of innovation and sustainable globalisation and how one manages the aforementioned. Based upon this strategy a curriculum has been developed in which the learning objectives of the courses contribute systematically to our programme goals. A particular focus will be met through team work, intense faculty-student interaction, individual student development and systematic soft skills training. Pforzheim University is funded by the state government. Our institution is not profitoriented. Our mission, to a large extent, is defined by law. We focus on a high level of academic education in applied business in order to prepare our students for sustainable and successful professional and managerial careers in a dynamic, global environment. The MBA International Management programme is an important component of our Business School’s strategy. It contributes to the school’s mission in further education as well as internationalisation. As the programme is not run for profit, student fees only have to cover the operational costs of the programme. Given the high quality of the programme, the cost-benefit-relationship for students is excellent.

How flexible is the course at Pforzheim?

Pforzheim University Business School’s MBA programme offers students a very interesting combination of mandatory courses and electives. The first semester is a foundation semester which has been designed primarily for non-business graduates. Business and economics graduates may waive the first semester and join the MBA programme in the second semester. In the first two semesters the courses offered are mandatory in order to provide students with both profound, broad general management foundations across relevant disciplines and core skills in innovation management and sustainable globalisation. The third semester is then reserved for flexible, individual concentration. “Strategic Management” is the only mandatory core course of the semester. Additionally, our students may choose from a large variety of interesting course

The programme goals of the Pforzheim MBA International Management take into account that firms will only withstand future competition successfully if they are able to face these 21st century challenges head on by exploiting opportunities and minimizing risks. options. The options range from advanced courses in the fields of Marketing and Accounting & Finance through to advanced courses in the MBA specialisations, innovation, sustainability and globalisation. Moreover, our students also appreciate the opportunity to take part in interesting company projects as an elective. Currently, for example, our students are working on a CSR project with Bayer CropScience and on an international sales project with UHU. Another interesting option our programme offers is the opportunity for our MBA students to study the third semester abroad at one of our partner universities. For students with a first degree from a German institution, it is compulsory to study the third semester abroad. For all other students, it is an additional option. Having completed our blocked capstone lectures at the beginning of the forth semester our students write their MBA thesis - the students choose the subject area and topic according to their individual career interests. Typically, the students write their thesis in cooperation with a company or an institution, but a more theoretical academic thesis is also possible.

What is the school’s take on class size and the degree to which admissions are filtered?

It is the Business School’s firm belief that class size at master level should be restricted to a size which facilitates highly interactive teaching approaches, strong focus on faculty-student interaction and individual development. Therefore, class sizes in master programmes normally range between 15 and 30 students. This also holds for our MBA IM with class sizes currently around 20 students in the respective classes. Our focus on quality also affects our filtering of admissions. The MBA IM applies strict admission criteria - TOEFL (100+ internet-based), GMAT (550+), a minimum of two years postgraduation work experience and a sound bachelor degree. Naturally, these parameters act as a filter in relation to the interview stage. In the interviews, the motivation to enter the MBA IM, the candidates’ social competencies and their oral English language skills are also evaluated.

The International Feel

Eighty percent of MBA students at Pforzheim are of a non-German background. In addition, the school is a member of the Network of International Business & Economic Schools. Does this commitment to multi-cultural diversity reflect an appreciation of the increasingly global nature of twenty-first century business?

Yes, that observation is correct. Pforzheim Business School has a long tradition of fostering international student exchange and promoting multi-cultural diversity. It is the school’s firm conviction that in today’s globalised world our graduates at both the bachelor and master level have to be exposed to multi-cultural experiences and trained in English as the lingua franca of business. This belief is also explicitly stated in the school’s mission. For our MBA International Management students, cultural diversity and working in crosscultural teams is part of their daily studying experience. Moreover, the multi-cultural dimension of business is a central topic in a wide range of MBA courses. The opportunity for our students to study their third semester abroad at one of our partner universities and the intake of MBA exchange students from our partner universities contribute to this multi-cultural diversity.

Connections

Considering the prominently international feel that encapsulates the vision of Pforzheim, does the institution enjoy connections with external academic institutions?

We have got 12 MBA-IM partner universities in Europe (France, Portugal, United Kingdom and Slovenia), America (USA and Mexico) and the Asia-Pacific region (India, Indonesia and China). Currently, some of our students are at the University of Macao, the University of South Carolina, the University of Brighton and at Brigham Young University in Utah. Furthermore, we receive students from partner universities in the second and third semester. Consequently, our MBA student group is “freshly mixed” each semester.

CEO

European MBA Review

Education is certainly one thing, but industrial experience is another. Does Pforzheim recognise the importance of this by facilitating its students with tangible exposure to business?

An intensive and close cooperation with the business community is certainly one of the main features of our programme and the university in general. Our philosophy is to provide a profound management education in which theory and practice go hand in hand. Throughout their studies our students will have many opportunities to glean business insights. This starts with our faculty. All of our professors have gained at least five years of professional experience outside of the university and thus have worked in senior management positions. Their substantial professional experience is reflected in their teaching and passed on to the students. Company visits and company guests on campus are part of the schedule every semester. Pforzheim is also in the advantageous position of being located in Baden-Württemberg, one of Germany’s most dynamic and prosperous regions. Famous for its technological leadership in automobile and mechanical engineering, just to name a few, it is home not only to a large

Projects with companies are an explicit part of the curriculum in the third semester and provide our students with important first-hand business experience. number of renowned multi-national companies but also to “hidden champions” that form the industrial backbone of the German economy. This exceptional business environment is a valuable asset to our practical-oriented management education and naturally benefits our students. Projects with companies are an explicit part of the curriculum in the third semester and provide our students with important first-hand business experience. Continuously searching for possible future employees and managers, companies show great interest in our students. And through our close cooperation we are able to understand what companies need. The MBA thesis the students write in their last semester is also used by many students to gain additional industrial experience. Quite often, the thesis becomes a “door opener” to companies and paves the way to a job opening.

For our MBA International Management students, cultural diversity and working in cross-cultural teams is part of their daily studying experience.

Biographies: ★★ Rudi Kurz is the Dean of the Faculty at Pforzheim University. ★★ Harald Strotmann and Matthias Kropp are Pforzheim University’s MBA Directors.

CEO

The Future

What is Pforzheim’s vision for the Business School over the next five years?

The Business School of Pforzheim University is a well recognised business school in Germany. The excellent educational standard and methods, good study amenities and our focus on the job market are very successful, repeatedly demonstrated through various positions in the top group of relevant rankings and ratings (e.g. Wirtschaftswoche 2010, Centre for Higher Education Development 2009, etc.). For high-achieving, motivated students, it is the first choice among public universities in Germany. For employers, Pforzheim Business School is a primary source of qualified employees. Over the next five year period we want to further improve the national and international appeal of the Business School and strengthen our position in the top tier of international rankings.

Pforzheim MBA

Combine the most relevant topics innovation, sustainability & globalization with profound general management education

Learn to make decisions in today’s highly uncertain business environment

Benefit from our close cooperation with multi-national firms and regional “hidden champions”

Profit from individual work in small student groups Enjoy our professors as your coaches, not only instructors

Come to Germany’s most innovative region! The Business School will, therefore, expand in size by 20% (140 new seats, 12 new faculty members) and strengthen quality management in all aspects of its activity. In order to demonstrate our quality culture, become more attractive to international partners and enhance the learning experience and career prospects of our students, we are in the process of initial accreditation by the AACSB. How do we achieve this? All of our activities are student focused. We provide a high level of academic education in applied business to prepare our students for sustainable and successful professional and managerial careers in a dynamic global environment. We succeed because:

Full-time 4 semesters for non-business graduates 3 semesters for business graduates

❯❯ We capitalise on the potential of the many attractive companies in our area, thus benefiting both our students and the companies;

❯❯ We attract faculty members who are not only outstanding scholars, successful professionals and leaders, but who are also committed to excellence in teaching. ❯❯ Faculty members make intellectual contributions based on research that can be applied to contemporary business issues, to classroom instruction or to enhance the knowledge base of the faculty’s disciplines.

❯❯ We are committed to continuously building and maintaining international alliances and partnerships on a global level. With our MBA International Management programme we contribute to career-enhancing continuing-education. The programme is part of our successful efforts to develop an international culture within the school and to facilitate international exchange.

www.hs-pforzheim.de/mba Email: mba@hs-pforzheim.de Phone: +49(0)7231-28-6146 +49(0)7231-28-6524

European MBA Review

Set up by Industry for Industry: MBA at the Nordakademie Amadeus Finlay talks to Dr Gerd Schmidt » other areas of education such as engineering and computer science allowing students to have the chance to learn about business as well as broader elements of related study that will prove of benefit to their education. Over the course of the year we offer approximately 300 seminars at the Studium Generale. As for the Management Forum, this is where we have the opportunity to invite experienced individuals such as CEOs and senior business officials from companies not only in Germany, but globally, to come and speak to the students. For example, senior executives from Deloitte and researchers from the University of Hamburg are among some of our most recent speakers. Finely put, the Management Forum is a means of interaction between seasoned professionals and the student body.

Q Q

Hamburg not only boasts strong industrial and business credentials with companies such as Airbus and Aurubis enjoying a big presence in the city, but also an incredibly high standard of living. Do you feel that the MBA programme at the Nordakademie finds itself in the most ideal of environments to attract students?

I would very much accept this notion. The Greater Hamburg area is a very pleasant environment for students. Given the access to the sea, the beautiful countryside and the city itself,

Many institutions are increasingly stressing the importance of international connections as the world of business develops a more global guise. Does the Nordakademie have any such connections and how does it utilise them?

We are strongly connected to a large number of local companies. Around 550 businesses support and work with us, and most of our students come from these firms. As a result, we not only have access to their business acumen, knowledge and ideas, but also a number of guest speakers whom we can call upon. Most notably is the annual intake from Airbus and the nature of our relationship with this company.

Students are immediately submerged in challenges that face the business world on a daily basis. we receive significant tourist traffic. We are also very well serviced in this part of the country by air. The airport serves Northern and Western Europe, Russia and the United States. When this is considered alongside the strength of industry, as you mentioned in your opening remarks, there are a host of reasons why students are well placed when they come to study at the Nordakademie.

CEO

Kindly explain the thinking behind and benefit of the Management Forum and the Studium Generale.

The Nordakademie programme is based around the concept of ‘broad education’ in order to shed light on existing ideas as well as what is going on around us. The Studium Generale, therefore, is not only business oriented. It takes aspects from

The Nordakademie MBA is structured around what it refers to as a ‘practically oriented’ programme. What does this mean for both students and faculty alike?

When students come here they are immediately submerged in challenges that face the business world on a daily basis. This allows our students to not only be plunged into the hard-nosed reality of the business world, but to learn for themselves how to manage situations as and when they arise. For example, if a student does an elective in marketing, they develop a marketing plan for, let’s say, a bus manufacturer before going off and researching all of the elements involved with such a project. Once developed, the student in question delivers his or her findings to the class and whoever is deemed the most successful or most in line with the actual business structure is awarded a prize. It is an incentive based system as well as one that is focused on the actuality of business. Or, if students are presented with an actual business problem, they are asked to go away and research the issues academically before coming up with solutions. In this way, the MBA fuses practical business issues with academic pursuits.

Does the Nordakademie operate a strict admissions criteria system?

Yes, certainly! Generally, we do not require the GMAT, we do accept it of course, but we are open to individual merit. All applications are

Nordakademie MBA

The Nordakademie programme is based around the concept of ‘broad education’ carefully reviewed and with a fine critique. If deemed suitable, or at least with potential, we invite the candidate for an interview which lasts between 60 and 90 minutes. The interview is conducted by the professor teaching the course and someone from the registry office during which academic credentials are discussed and the reason why the individual wishes to undertake the MBA programme. Following this, we have to consider the likelihood of the individual graduating before offering a place. Once this is decided upon, a test in English is conducted as a foreign language. We also have three online examinations that a candidate must complete before proceeding. The first is an IQ test, this is followed by multirelations. The final one is a personality test. Overall, our acceptance rate is around 50 per cent, so we insist that our candidates are confident in their abilities.

How does the Nordakademie manage to offer a comprehensive MBA programme while at the same time balancing the needs of middle-management?

this expansion, it can only be a good thing in the short term. Thus, given the debate over German economics, what is Nordakademie’s strategy for the next five years?

Before beginning the programme, students are sent course books in English and German in order to familiarise themselves with the programme before they start. Following this, the semester is broken down in such a way that the student spends no more than eight weeks actually on campus per year. This facilitates time management.

Our strategy is clear. We wish to continue to grow and attract students while advancing our existing connections within industry. This will be balanced by evolving in line with the direction that German business and economics are already taking. We appreciate that a recession is a very damaging element that we will have to address, especially given that we are a business school, but this will simply challenge us to maintain and build upon our strengths. MBA programmes are popular and will continue to be. As a result, we must continue to compete with global leaders and grow in order to cement our place as one of Germany’s strongest MBA offerings. 

How is the MBA programme at the Nordakademie structured?

There are five blocks on campus, the first three being general management sessions to ensure that all of the students are at the same level. From there, students can diversify as their desires dictate and adopt whichever electives they wish, alongside compulsory courses. This is crowned by a thesis at the end of the programme.

It has been widely documented of late that the German economy is showing unprecedented signs of recovery and while some financial commentators worry about

Biographies: ★ Dr Gerd Schmidt, MBA, is the Director of the MBA Programme at the Nordakademie as well as a former corporate financer, transaction support officer and technical adviser.

THE NORDAKADEMIE MBA Fusing practical business issues with academic pursuits

As a non-profit-making institute, NORDAKADEMIE operates exclusively in the interests of its students and partner enterprises.

Hochschule der Wirtschaft Köllner Chaussee 11 25337 Elmshorn Phone: +49 (0) 4121/4090-0 Fax: +49 (0) 4121/4090-40 Email: fh@nordakademie.de

European MBA Review

The Globally Responsible MBA Amadeus Finlay talks to Dr Jonathan Black-Branch » Subhead

The MBA programme at AVT provides an acute focus upon the world of corporate social responsibility. Kindly elaborate upon AVT’s position on this progressive element of modern business..

At AVT we offer an Executive MBA programme focused on the needs of middle management. As part of the criteria for entry, managers have to demonstrate clear leadership experience, or at least potential, as well as international experience. Thus, we evaluated the demands of a leader today and the broader features of developing a leader for the modern business environment. We came up with the GRLI (Globally Responsible Leadership Initiative) of which CSR is a part. We have, therefore, focused on developing the CSR aspect and widening student perspective of this issue. In conjunction with developing their leadership skills and abilities, we aim to increase their knowledge and awareness of CSR as an integral part of the leadership element of the programme. Refining the answer further, we break down CSR into four essential areas:

❯❯ Human rights

❯❯ Labour standards

❯❯ Environmental awareness ❯❯ Corruption issues

Yet, teaching CSR as well as leadership elements in the classroom is not an effective way of communicating the issues and so we decided to have a live video link session with globally active businesses. Indeed, we have been most fortunate with our connections and can point to Grundfos, Carlsberg as well as Lego; all of which are excellent examples of real-life, international businesses that are dedicated to CSR. CSR permeates throughout the different courses and, for example, if the student takes a course on corporate governance, they will find case studies and issues relating to CSR incorporated within their programme. On reflection, I would say that the AVT MBA is quite unique in that we do have such an integrated CSR and leadership component.

CEO

AVT Business School MBA

AVT is not simply an inwardly focused academic institution, but has established connections with businesses such as Carlsberg and Lego. Do these building blocks help to cement your position as probably one of the best MBA programmes in the world?

We are fortunate to work with, and have the support of, prominent international businesses. That said, these businesses invariably tell us that they benefit from the input our students are able to provide from brainstorming sessions etc.

At AVT we have been quite fortunate in that we have established a very solid reputation and developed strong interest in the product. Of course the benefit to us is greater. The fact that our corporate partners are prepared to open themselves up to us and provide honest reflection on our case-study exercises is of great help. Does it make us the best in the world? Well, I would say that it gives us a unique position in

the marketplace. I have not seen another MBA programme in the AVT format, and one that encourages such focus on the importance of CSR. It is also innovative because our programme offers a leadership element that facilitates the development of the individual as opposed to general group development. Having said that, there are some great players in the Scandinavian market, of this I have no doubt, but I do believe AVT is a special place; a unique institution on the shores of the Øresund Strait.

AVT offers a CBA access course before students’ progress into the full MBA programme. What is AVT’s intention behind this process?

The EMBA programme is an eighteen month programme consisting of two stages. The first being the CBA which is a part-time, six month course that provides students with an introduction to the MBA. It offers the student an entry point to a rigorous, high quality academic degree. It also enables them to ascertain the level of expectation, what the curriculum contains as well as the teaching methods. It thus serves as a very good introduction and helps students to decide

AVT is a special place; a unique institution on the shores of the Øresund Strait. CEO

European MBA Review

whether or not to pursue a full MBA. Therefore, the CBA is a good exit point for some students and offers a Certificate of Business Administration, a trademark registered to AVT. A lot of students who perhaps want professional development or to consolidate their position enter with the sole ambition of completing the CBA. We have two trigger points and both of our application systems are separate. Firstly, students complete a Harvard Case-Study and then proceed to the CBA. If they complete the CBA with the requisite grade point average they reapply to the second part of the MBA. A Harvard Case-Study is once again used as part of the application process. We do, however, recommend that people complete the CBA and then wait six months before deciding whether to continue. This allows the potential student to consolidate their position, reflect on the course they have just completed and see where their career is going before deciding whether it is prudent or not to proceed. About one-third to one-half will move straight into the MBA from the CBA, the rest will wait.

CEO

Feel free to speak freely. What do you believe are the key elements to the success of the MBA programme at AVT?

Firstly, without going back on myself, I think that the CBA has proved to be a very interesting attraction. It has provided middle to senior executives with a realistic short-term course that allows them to decide whether or not to pursue the full MBA programme. Effectively, while the two components stand alone, they are also very connected. Another aspect is the CSR element, which we discussed earlier. I would, however, like to draw attention to an element that is part of both the CBA and MBA courses, the Study Tour. At the beginning of the CBA, students go to Boston for a week and for the MBA, students go to Shanghai for a week. During these trips the students visit industry and sit in on a series of lectures. The purpose of these visits is to give our students international experience, to expose them to a lot of different people. We also have an Applied Research Project where students work on an in-house corporate

We have faculty from some of the best institutions worldwide.

AVT Business School MBA

Absolutely. We focus on developing our students individually, not just as a group attending lectures and then sitting an exam. We provide an interactive course that enables us to encourage and identify the strengths and needs of each person on the programme. The Applied Research Project also helps to encourage social development and interaction. We also put our students into groups where interaction and team-work is encouraged in order to develop transferable real-world skills. This ensures that the student interacts with people they have never met before or may not have otherwise encountered and thus provides a holistic social development aspect that is essential for success in the workplace. These aspects do not stand alone, however, and we encourage our students to interact and build connections at each stage of the programme. We also encourage the students to interact with alumni whom they will someday become one of.

How does AVT balance providing a thorough MBA programme with the career demands of middle management?

research project. This allows them to apply a lot of the knowledge that the course has provided. They have time to complete this before presenting it to an examiner at AVT and are expected to defend their answers. Also, at the end of the MBA, the students are required to complete another research project, on a different topic, which has to be of a higher category of knowledge given that they are

In addition, in 2010, we can point to our secondlargest MBA intake ever which attests to the fact that there is very strong interest in our MBA. expected to apply all of the knowledge acquired during the course. The objective of these projects is to test assimilation capacity and the ability to apply findings in an analytical fashion to an actual real-life work situation. Students learn a lot from these projects as it gives them something solid to work towards and apply in the workplace. We are also realistic and flexible, offering our programme over the weekends. In addition, Denmark is a desirable place not only to live and work, but to study and network.

With such a colourful and refreshing MBA programme on offer, does AVT compliment the course by encouraging social interaction and the development of essential intrapersonal skills?

Firstly, all of our students are working professionals and thus each student must have the support of the workplace from which they are coming. They know at the outset that they are expected to give up some of their time to dedicate focus to their MBA and thus will need to sacrifice potential working hours in order to complete the programme. Secondly, the CBA gives the student that six-month opportunity to understand what it is they have committed themselves to and decide whether or not to proceed. Also, we do focus a lot on the development of research projects and, whenever possible, assessment is based on work-based projects. Technically, we are trying to get them to apply their knowledge and skills to real-life work scenarios. As a result of the flexibility we offer, the student is able to focus on both work and study. We do, therefore, liaise with industry in order to ascertain what industry demands from a real-life work setting.

The measure of success at any academic institution is frequently down to the experience and ethos of members of faculty. Kindly expand upon the expertise of the MBA staff at AVT.

We offer a unique product in that we have faculty from some of the best institutions worldwide; Yale, Berkley, Northwestern and MIT. As a result, we have engaged some of the top faculty in their field either as lecturers, professors or as distinguished guest lecturers. Most of these people can also offer professional experience whether as consultants or senior executives. As a result we have a

CEO

European MBA Review

very dynamic and well-connected faculty who are dedicated and experienced within education. For example, we have a guest lecturer, Professor Michael Porter, who is coming in from Harvard this week and his visit will create a lot of excitement amongst the student body.

With the global financial crisis in full swing, commercial enterprise and academic institutions alike have had to readjust rapidly. Within this construct, are you at liberty to discuss AVT’s vision for the future?

Of course. I feel that the financial crisis has hit a lot of businesses and business schools very hard. At AVT we have been quite fortunate in that we have established a very solid reputation and developed strong interest in the product. I think that one of the differences between us and our rivals is that we are receiving a very large number of applications from self-funded individuals. This indicates both how much students want the product and how solid the product itself is. In addition, in 2010, we can point to our second-largest MBA intake ever which attests to the fact that there is very strong interest in our MBA. We also have new premises in which we teach the MBA and the students not only feel comfortable here, but they enjoy coming in and using our facilities. In the future I see us not only solidifying what we have, but also building upon it. In addition, we do not wish to roll on thoughtlessly bringing in large numbers of students, but wish to retain our quality in small numbers of the best individuals around. We have not experienced anything unstable; we are not at all worried. In fact, we would like to expand into other parts of Scandinavia as well as Northern Europe, but we are doing this slowly and organically. 

Biography: Dr Jonathan Black-Branch is a Barrister and Professor of International Law at AVT. He was educated at the University of Toronto where he received his Ph.D and a D.Phil in Law from Oxford University. Prior to working at AVT, Dr Black-Branch was Professor of International and Comparative Law at the University of Brighton and Professor of International Law at Royal Holloway, University of London as well as Director of Law at St Benet’s Hall, Oxford. Previously he had been Senior Law Fellow at Greyfriars Hall, Oxford University. He is also a holder of a Queen Elizabeth II Silver Jubilee Medal.

CEO

Hanken MBA

The Hanken MBA:

A Holistic View

CEO Magazine talks to Annika Vatanen »

Given the current economic climate, do you foresee there being an upswing in the number of self-funded MBA students attending Hanken?

Yes, this upswing is already apparent. Certainly the ratio of self-funded to funded has been increasing and continues to do so, but it is noteworthy to mention that despite the economic downturn there has been an upswing in applicants of all kinds. It’s also interesting to observe how this phenomenon is reflecting in the programme as we are getting some people with a strong urge to get instant value for money. It seems that they calculate the value they get from each hour of the programme; I see this as a plus as it induces continual development of the programme to provide the most up-to-date teaching.

Not Your Average MBA

Selecting a business school, or even compiling a shortlist, can be a daunting task. The Hanken part-time MBA, however, is quite different to anything else we’ve seen. Can you elucidate about your position on teamwork and communication and the position these factors have on the MBA programme?

Kindly define your MBA value proposition.

We have a saying, ‘do the Hanken MBA, and live longer’. It concerns the accrual of social capital. Here at Hanken, we place emphasis on the participants operating as a group, thus forming a community of members who stay together for a period of two years. This environment fosters a great deal of social interaction. The participants have fun and make friends for life. The community is also expanded by the very committed staff, comprised of many in-house lecturers. Thus participants really feel they are part of something worthwhile, which in turn facilitates sharing and networking. The ‘live longer’ slogan also comes from the fact that in one study the Swedish speaking population in Finland is shown to be a group with the longest life expectancy together with an island in Japan. This finding has been attributed to the fact that a high level of social networking exists and that’s one of the features that the Hanken MBA incorporates, stemming from the Hanken culture identified in the new school of economics. We imbue the participants with a concept of strategic change aimed at engendering a very holistic view of the organization, really looking at the whole in relation to the future and this is achieved by the fact that we have very logically interrelated modules with a holistic feature of organisations and also by the fact that we have a faculty who know each other and coordinate the contents of the modules in concert.

Communication and teamwork is indeed a cornerstone of the whole Hanken MBA, stronger I think than most business schools. One of the central aspects is the concept of community with the ultimate aim of sharing knowledge. When interviewing potential participants we try to see how they can contribute to the theme, so it’s not just getting knowledge from the lecturers but also what the participants can share.

Here at Hanken, we place emphasis on the participants operating as a group, thus forming a community of members who stay together for a period of two years. Also, there is the interaction with the central staff. Thus communication, interaction and team work is facilitated and, in addition, the social aspect is very important here at Hanken.

By developing strategic thinkers, promoting communication and integration up throughout the programme, how do your students differ to those attending other business schools?

First, we try to ensure that they are socially competent people, but I would not like to say that they are different from students attending other business schools as we really have no basis of comparison with other schools whose students may be equally competent socially. I do think, however, that maybe the special characteristics of the Hanken MBA typify the characteristics of the group. In general, the participants form a very diverse group, comprising quite a few senior executives, ambitious middle managers with high

CEO

European MBA Review

Programme Selection and Application

potential, people with international backgrounds and people with differing industrial backgrounds. We constantly strive to embed the ways in which they can contribute to each other through communication and integration. And we find that our participants do have the ability to absorb these concepts and put them to practical use.

reflect on the issues in their own work life, and many people have confirmed that they apply the knowledge gained in the workplace.

I would say always, but that is not realistic. I think that it’s really important to question whether you have the motivation to learn, because it really takes a lot of time to do an MBA and get the most out of it. It is motivation combined with practical experience that really aids this new learning experience. It’s also important to check when it’s a good time for the employer in order to coordinate work duties with time off to do the programme. This can even apply to self-funded students. And then it’s also important for the family, from a support point of view so the participant is free to concentrate his time on his studies.

Corporate Social Responsibility

In your infancy, did you set out to be different or has Hanken just been fortunate to have an exceptional faculty?

It is interesting to comment on how the Hanken MBA got started. We noticed that the Hanken faculty had certain strengths that are in high demand, so we decided to build a programme around the strengths of the existing faculty rather than just cobbling together an MBA, similar to all the other programmes out there. Of course the programme is developing the whole time but originally it was built around these outstanding people. Now of course, there is such a high level throughout the module, there is no one really standing out, as was the case in the beginning.

Leadership

In this ever-changing economy, what role does leadership play and to what extent is it addressed throughout the programme?

Leadership is one of today’s buzz words. Even the research by the ‘Central Creative Leadership’ in London states that about 75% of problems in organizations are leadership related issues: I am amazed that leadership is often referred to as the

A number of surveys indicate that controversial industries, such as tobacco, oil and defence are a far lower priority for MBA aspirants than service industries. Do you concur with this notion?

Instead of merely focusing on the term CSR, I think it’s more important to educate leaders to be responsible and to consider their actions on multiple levels whilst being aware of the long-term implications of the sum total of all their actions. Of course it’s important to have modules on CSR but I think the real key comes from considering your daily actions and how to be responsible to those around you and close to you.

I am amazed that leadership is often referred to as the softer side of management. softer side of management. We make it a central part in some modules, and also we elaborate further in personal skills sessions, which further addresses leadership issues. We have seen that many of the participants still want the so-called ‘harder side’ of the skills set, so we try step by step to expand the minds of the people to see the importance of leadership. Personally, I think we should stress leadership skills even more in the future.

How do you test the leadership qualities of your students in order to prepare them for the realities of real world business?

Potential participants provide references, which enable us to glean something about their leadership qualities. We don’t have an actual test as such, but throughout the programme we afford them the opportunity to apply everything they have learned everyday at work: this is also aligned to specific assignments. Participants are able to

CEO

When is the best time to enrol in an MBA programme?

Whilst a growing number of business schools are integrating social and environmental stewardship into their MBAs, would it be fair to say that most only pay lip service to CSR?

Hanken has signed up to the ‘Principles for responsible management education initiative’, which is backed by the United Nations. We adhere to these general principles and we are also planning to have modules with more CSR, but I reiterate that the strength comes from making a leader responsible for his actions and, in particular, the long-term impact of those actions. I am not claiming that we do more in this area than other schools, but the creation of responsible individuals is something we really focus on. If the participant obtains a good picture of the whole then he will also be aware of the implications of what he is doing as a leader. Notwithstanding, we can do more, and will.

Unfortunately, not all programmes are created equally. Beyond faculty, reputation and pricing, what do middle mangers need to consider when selecting a programme provider?

In general nowadays, apart from the web page, there is a great deal of information that can be obtained about programmes and their providers. There are quite a few providers who are accredited and that’s important. I think that programmes can differ quite a lot, so I think it’s important to ascertain in advance the makeup of the programme and select one that suits you in terms of structure, days of the week, etc.

Looking Ahead

What can new and existing students expect from Hanken, in terms of programme innovations, over the next 12 to 18 months?

I firmly believe that one should not place undue effort on change merely for the sake of change. Feedback from our participants indicates that they derive great satisfaction from the course material, which addresses the salient requirements for today’s business executives. Of course we will keep pace with new developments in the business arena and take into account the needs of the participants. Taking responsibility for one’s own actions is something I would like to stress even more in the programme, but I think that for the time being we shall maintain the status quo, subject to adding new topics in which the participants are interested. Keeping up with natural development is important.  Biography: ★★Annika Vatanen is the MBA Programme Director at the Hanken School of Economics.

ENPC MBA

Building on Over of Educational Excellence Amadeus Finlay speaks to Dr Tawfik Jelassi and Alon Rozen »

ENPC truly is an international institution. Kindly outline the highlights of your MBA programme with a focus on the international elements of the course.

The international dimension of our programme is expressed along several lines: ❯❯ The international student body – this year we have 35 students in our MBA programme representing 17 nationalities! While participants learn extensively from their professors we like to tell them that there are 36 professors in class at any given moment, i.e. they can and should be learning from each other as much as from their professors. While any given professor can teach best practices and relate them to their own professional experience, participants share insights on the topic from a multiplicity of countries, continents, companies and cultures that adds layers of insight you cannot get in a more homogenous learning environment.

❯❯ International professors – 40 professors representing approximately 20 nationalities. An implicit element of the design of the programme is to ensure that participants are exposed to multiple worldviews from professors from leading institutions around the planet. ❯❯ International curriculum – Paris-based but with two international study trips, three sister programmes and one strategic partner programme as well as 20 international exchange agreements. ❯❯ International staff – 15 staff members representing nearly 10 nationalities.

Having reviewed other internet management programmes such as Blackboard, you settled on a superior model to encourage student organisation online. What do you feel are the benefits of such a system?

Management of Technology is an area the School is particularly interested in – both in the dayto-day management of the School and as part of our Centre in Excellence in Technology and Entrepreneurship (a key element of our MBA in T&E). As students of technology, we know that there is a “natural trap” that many fall into – that of adapting the way you do things to technology rather than asking technology to adapt to the way you would like to do things. As a result, we have spent consequential financial and human

Our participants come from a wealth of nations and we expect our graduates to become global leaders, not just in terms of management but also in terms of moral leadership. resources building out a Virtual Learning Environment (VLE) that is well-adapted to the 21st century and to the specifics of our programmes. In addition to developing a VLE, our system, nicknamed The Bridge, is part of our attempt to move to a paperless learning environment, including a 100% online admissions process.

ENPC prides itself on technological innovation. Kindly highlight the resources of which you are most proud.

The VLE we have developed together with the Comptoirs du Multimedia, a Paris-based web agency, is a step beyond most “intranets”. It has taken us over a year to develop and refine with a significant investment in terms of human and financial resources. The result is a state-of-theart VLE which is perfectly integrated into the School’s website and online admissions process. Participants can see a real-time transcript, see their GPA and the number of credits validated

CEO

European MBA Review

At the ENPC MBA we feel that exposure to multi-cultural, inter-cultural and new inter-personal experiences, i.e. a variety of interactions with others, helps each participant to gain intra-personal insight about self.

on the way to filling graduation requirements. They can also compare their grades on any given assignment to the class average, e-mail professors, complete course evaluations, email other participants, see the groups in which they will be working, download course materials, upload assignments, print out interim transcripts and more. Professors appreciate being able to download all assignments for a class with one click, to see large pictures of the student in question (a helpful reminder), to download CVs and background profiles (bio’s), and the ability to post course materials while determining when they become visible to participants…

The vision of the founder of the ENPC MBA, Celia Russo, believed in giving MBA participants the maximum choice in designing their own curriculum. Yet, the paradox of choice is that sometimes more is less. Do you find that students have issues in making choices?

Actually the question of choice is an interesting one. Many of our participants come into the programme “knowing” exactly what they plan to do in the future, what courses they want to take, their preferred career path, etc. Early in their MBA, many participants come to see us admitting that they are rethinking many things as they

CEO

have discovered new passions, new interests, new perspectives and would like to “talk things over” with someone. As part of the curriculum, each MBA participant is attributed an Academic Advisor who discusses curriculum choices with the participant in the context of their overall learning objectives. This year, we actually added an Individual Learning Objectives Plan (ILOP) that each participant completes and discusses with their academic advisor in which they discuss their learning objectives along several dimensions: business skills, management skills, inter-personal skills, leadership skills, cultural skills, career as well as other objectives. This allows the participants to make wise choices in the context of their overall objectives and it helps the Academic Advisor to guide the participant on the basis of his/her specific needs and objectives. However, the very nature of the MBA is that it opens the door to multiple career opportunities. As such, it is normal that not all participants are perfectly clear on their next steps. Too many options can be confusing but, it is probably a good problem to have.

Does the MBA programme at ENPC manage to incorporate not only exceptional education but also an understanding of the importance of accomplished intrapersonal abilities in the workplace?

Yes. At the ENPC MBA we feel that exposure to multi-cultural, inter-cultural and new interpersonal experiences, i.e. a variety of interactions with others, helps each participant to gain intrapersonal insight about self. The ILOP, mentioned earlier, is a framework for introspection that each participant is asked to complete during the first semester of their MBA programme. Those who are comfortable doing so are asked to share their insights and objectives with their Academic Advisor. Aside from helping to make the academic advising more qualitative and better adapted to each individual, this exercise assists the participants in formulating very personal ideas in terms that others can relate to. This helps to make these insights, questions and doubts more explicit and, later in the year, helps the participant to chart the progress they have made on several different levels over the course of the year. It should be mentioned that for those who haven’t yet gone through an MBA it is an expe-

EnPC MBA

rience that often teaches you as much about yourself as it does about business and management… Your relationship to stress, to working in groups, your ability to work outside of your cultural comfort zone, your ability to contribute positively to group dynamics, your ability to get your ideas heard and acted on, leadership skills, communication skills, competitiveness, willingness to help others, public speaking issues, personal presentation, networking ability, language skills (in an international context like here in Paris) and so much more.

Emery Pierson talks to CEO Magazine

The MBA programme at ENPC is based around a vision of ‘value-driven global leadership’. Kindly explain what this means and what it entails for the student.

The idea of value-driven global leadership is the translation of Celia Russo’s vision of business education. Her mantra, “in business to make a better world”, was intended to convey a clear message to potential candidates about the type of MBA on offer. The ENPC MBA has never looked to cater to A-type, highly-aggressive and highly-competitive, candidates. Rather from the beginning, Dame Russo (as she was later appointed to the French Order of Merit) believed that it was important to instil values into the MBA long before the scandals of Enron made this common in modern MBAs. For example, the course in Business Ethics and Corporate Social Responsibility were already core courses in the ENPC MBA curriculum in 1987! Our participants come from a wealth of nations and we expect our graduates to become global leaders, not just in terms of management but also in terms of moral leadership. It is hard to explain the difference with other MBAs but, at the ENPC MBA, camaraderie is common and competition is generally limited to comparing grades. This probably also explains why we have had nearly 40% of women on average among our participants – a significantly higher average than most MBAs and one that puts us in the top 10 worldwide in this connection. This year, 47% of participants in our MBA are women.

Why did you choose to do your MBA at the ENPC School of International Management in Paris?

recruiting on the basis of ability and “character fit”, a significant feminine population (47%) among MBA participants, the ability to personalise the MBA curriculum for each participant (up to 35% optional) as well as a stress on soft skills. The different MBA programmes allow us to break the cohort roughly into thirds with one third choosing to do a typical MBA with an emphasis on international business for those looking for mobility and an international career in management; one third choose the MBA in Technology & Entrepreneurship to gain a deeper understanding of the management of technology and innovation as well as what is necessary to start their own business in optimal conditions; and finally, approximately one third of participants choose the Tri-Continent MBA in order to gain significant direct international exposure to key markets across three continents during the course of their MBA. Each MBA is very attractive. In order to avoid “buyer’s regret” we allow participants of one MBA to participate in courses or in segments of the other programmes as part of electives and/or exchange programmes.

To experience it is to want to be a part of it.

ENPC promotes a ‘human emphasis on business’. Bearing in mind your three central specialisations of ‘International Business’, ‘Technology & Entrepreneurship’ and Tri-Continent’, can you explain what this actually entails?

The human emphasis on business is expressed both in the school’s mantra “In business to make a better world” and by our overall approach: small class sizes, a non-competitive environment,

My decision to do an MBA at ENPC was based on several different factors. I felt that an MBA was valuable to me because I wanted to provoke radical change in my current career. I have had the same job in a small school for the last few years without any opportunities for advancement. Recently, I completed my Bachelor’s degree in Finance online while working full time and wanted to use that momentum to pursue an MBA for a more complete education. I chose the ENPC MBA for many reasons, but mostly because of the small class sizes which facilitate personalised education. The international composition of the student body with many different professional backgrounds was also very important to me. There are very few French students in the class and all continents are represented, either as professors or students. I was also very pleased to join a school with the excellent reputation that the oldest engineering school in France offers. The networking opportunities are also enormous in such an old and famous institution. For these three main reasons, individualised learning, diversity in the classroom and a great brand, the ENPC MBA perfectly matched the criteria to which I attached the most value.

For example, the course in Business Ethics and Corporate Social Responsibility were already core courses in the ENPC MBA curriculum in 1987! CEO

European MBA Review

However, the very nature of the MBA is that it opens the door to multiple career opportunities.

ENPC employs strict admissions criteria. Is this four step system of ‘Getting to know ENPC MBA Paris’, ‘Application’, ‘Personal Assessment’ and the ‘Final Decision’ a deliberate decision in order to attract only the highest calibre students?

The four step process is actually a bit different from our point of view to that of the participant’s point of view. However, the process starts with a “getting to know” period in which we invite candidates to fill out a pre-application and, based on that, we invite them to sit-in on on-going MBA classes. We have found that once a candidate sits in on an MBA class and experiences directly the very special dynamic that reins in the classroom –

the interactive teaching approach, the diversity of the student body and the level of teaching – it is more effective than all the marketing in the world. To experience it is to want to be a part of it.

What are ENPC’s thoughts on the value of incorporating an international edge to its MBA programme?

Business is increasingly global both by design and by nature. Without a global understanding in terms of business concepts, business practices and cultural issues, as well as multicultural perspectives to management, MBA graduates would be entering today’s business world without the tools necessary to survive and thrive…

Biographies: ★★Dr Tawfik Jelassi is the Dean of ENPC School of International Management. ★★ Alon Rozen is the Assistant Dean at ENPC School of International Management as well as a Visiting Professor of Marketing & Management.

We pride ourselves on the diversity of our student body across all dimensions – geographic origin, academic background, professional background, managerial experience, age, socioeconomic background, etc. We promote scholarship opportunities aggressively in order to attract excellent candidates that otherwise could not afford a leading international MBA and to ensure that each promotion is extremely heterogeneous across these different dimensions. In regards to our curriculum, it is extremely internationally oriented. We offer participants the ability to take courses in our sister programmes in Shanghai, Casablanca and Abu Dhabi, and in our many exchange programmes around the world, all free of charge. There are also two international study trips every year which are part of the MBA curriculum – one to Asia (typically China) and one to the US (Silicon Valley or Boston-NY). Finally, it should be noted that we seem to attract language-proficient candidates as nearly all of our participants are at least bilingual, with many speaking as many as five languages. And most of our participants leave Paris with French added to the list of languages spoken on their CV. 

EADA MBA

Local Expertise CEO Magazine talks to Jordi Díaz »

What programmes does EADA offer at MBA level?

We offer several MBA programmes covering different stages of corporate life. On a full-time basis we have our International MBA which attracts people from over 50 different countries every year and has an average profile age of 28 and five years of work experience. For a very similar profile, but for the local market, we offer a part-time MBA. For executives, we have our very well established Executive MBA (in its 22nd edition) which is offered in a very intensive format (14 months on a weekly basis) for executives in Barcelona. We also have two other programmes in the Executive MBA portfolio which target international markets. One is the Euro*MBA programme that we offer in conjunction with five other leading European institutions. The Euro*MBA programme has been listed by The Economist as one of the top five distance-learning MBAs worldwide. The other Executive MBA is our Global MBA offered in conjunction with Centrum Católica in Colombia and Guatemala.

What has EADA learnt from all of these “international adventures” such as the Euro*MBA programme and Global MBA programme?

Clearly the most important factor is quality. In all of these projects, quality comes from the partners that you choose (other business schools), the participants you select (keeping your admission standards high) and the professors you put in front of these groups of well selected participants. The underlying idea is that your programme is the same but your delivery and market is different.

We understand programme design in top business schools around the world is quite similar; what differentiates EADA’s MBAs?

You’re right, programme design is similar but at the same time we all have to find our own identity based on our values and beliefs. In the case of EADA, this would be our special emphasis on personal development. EADA comes from

EADA Business and Training Centre

a consultancy background and this focus on the participant’s and/or company’s growth is embedded in our programme design. As well as the part focused on personal development there is the individual coaching programme that we offer for MBA participants.

companies. And it is also quite interesting to see how there is a real interest from investors (again local and international) in these business plans.

EADA acquired the residential training centre 20 years ago and it has proved to be the ideal place for the personal development part of our programmes. Developing skills such as managing teams, effective communication, intercultural negotiations, diversity management and leadership in a setting like Collbató (name of the centre) makes a real difference. 

Have you experienced any major change in the demand from participants in terms of content?

We have seen a clear demand from participants on all of our MBA programmes for entrepreneurship. It is really interesting to see how both local participants and international participants are preparing their business plans for setting up their own

We have seen that EADA, apart from its main centre, has a residential training centre; what is the idea behind it?

Biographies: ★★Jordi Díaz is Associate Dean for Programmes at EADA in Spain. He regularly speaks at seminars from the Association of Business Schools – ABS, the European Foundation for Management Development – EFMD and the Executive MBA Council.

CEO

EGP-UPBS MBA

Introduction

How would you delineate EGP-UPBS’s value proposition for the MBA courses they cooperatively offer or independently provide?

I believe that both our MBAs have excellent value propositions. Our full-time MBA, The Magellan MBA, has among its alumni quite a few CEOs and Board Directors of many of the largest multinational Portuguese companies - EDP, Sonae, Rar, Cerealis, ColepCCL. Consequently students benefit greatly, because the likelihood of placement in an interesting managerial position after graduation is significantly increased. Also, given the size of the cohort (currently about 30 students), students get a lot of individual attention, be it from the teachers or the school’s career services department. The programme is taught entirely in English and is supported by an international faculty with relevant professional experience and doctoral degrees in their fields of expertise. This means that students benefit from a truly international experience, including an international week, which in the last few years has taken place at IE – Instituto de Empresa). In addition to this, students get tremendous value from their investment as the programme is the least expensive one among the full-time MBA programmes accredited by AMBA in the whole of the Iberian Peninsula. Our Executive MBA is also an excellent and internationally accredited programme, although tailored to a focused audience. Classes are run mostly in Portuguese (approximately 30% are taught by international faculty), and students have an average professional experience prior to joining the programme of about 10-12 years compared with five in the full-time MBA. Given that classes are held on Friday (full day) and Saturday mornings, students are very much focused on their learning activities whilst at EGP-UPBS, at the same time their professional activities are unaffected from Monday to Thursday. The programme has the largest cohort in Portugal (usually from 60 to 70 students) and the quality of the participants is exceptional, which means that the opportunity to learn from fellow students is as important as the one afforded by our outstanding teachers.

While the Magellan MBA is relatively new, EGP-UPBS established one of the first MBA programmes in Portugal over 20 years ago; could you recount the life course of executive education at EGP-UPBS?

As you said, the full-time MBA Programme was launched in 1988, at the time with the support of Stanford University in the US. The idea was the joint effort of a group of large Portuguese firms that wanted to launch a hands-on programme

Built on Solid Ground CEO Magazine talks to Jorge Farinha »

We constantly bring new learning methodologies to the table in order to develop soft skills that include coaching, role play, simulations, outdoor activities etc. that could produce a different kind of management graduate from the one that was being delivered by more conventional programmes, specifically, managers with a more practical vision of the corporate world yet founded on adequate scientific grounds. This took the form of a business school with the unique characteristics of two owners (well, not exactly owners because the school is a non-for-profit organization), which are the University or Porto and a group of

twenty-one large companies, both of which have equal stakes of 50%. While the initial focus was essentially the MBA programme, in the last 12 years the school has greatly expanded its activities. It now has two campuses, a huge variety of open enrolment executive courses (from one-day seminars to five week mini-MBA programmes and all sorts of specialized one-year postgraduate programmes in specialized managerial subjects), a strong executive MBA programme

CEO

European MBA Review

In addition to this, students get tremendous value from their investment as the programme is the least expensive one among the full-time MBA programmes accredited by AMBA in the whole of the Iberian Peninsula. (the largest in Portugal) and, increasingly, a large number of customised programmes for a group of fast growing, large companies which now includes international firms.

Are there varied specialisations as well as a different tenor for each of the institutions associated under Magellan? What are EGP-UPBS’s dominant strengths?

Both the Magellan MBA and the Executive MBA offer in their final term a large set of different electives which enable students to develop an interesting degree of specialisation in a chosen field. The Magellan MBA, for instance, this year offered some 27 different elective courses, out of which 17 were chosen by students in a bidding process. This enables students to choose specialised courses in any of four different areas: Organisational Development, Accounting & Finance, Operations and Marketing. The Executive MBA also has the possibility of specialisation along similar areas, although with a somewhat different structure. I believe that EGP-UPBS is well balanced in terms of having

important strengths in all relevant management areas, although I would point out strategy and marketing and accounting and finance as some which are particularly well ranked by students. Notwithstanding, we have excellent courses as well in negotiation, entrepreneurship and innovation. Our philosophy, when it comes to the institutions associated with the Magellan MBA, is to always choose the best faculty members for each particular course, regardless of their affiliation. The same principle applies to visiting faculty. Interestingly, we have the policy of stepping down teachers from MBA courses that rank in the lowest position in each year according to the students’ questionnaires. As a result, the average quality score has had a continuously upward trend and currently stands comfortably in excess of 4 on a scale of 1 to 5.

Options in Porto.

The Magellan MBA is offered in the English tongue. Is this both to attract a global and diverse composition to the cohorts across the component universities, but also to equip local students for leadership in a globalised context?

That is absolutely correct. On one hand, we have been observing that our students are increasingly pursuing international careers (our statistics reveal that we have alumni living in, or being heavily involved with, about 40 different countries). Corporations themselves are keen to recruit students that wish to become expatriate managers and thus need the corresponding international vision of business. But it is also true that we believe that cultural and geographical diversity among students is an extremely important source of learning for all our students and is of fundamental importance in the global business world today.

How important are the international affiliations the EMBA has developed, and what opportunities do they afford cohort members?

The Executive MBA and the Magellan MBA benefit from the strong relations that EGPUPBS has been developing with different international business schools and international companies. On the business school front, EGP-UPBS has close links with top schools such as FDC-Fundação Dom Cabral (Brazil), London Business School (UK), IE-Instituto de Empresa (Spain) and RSMRotterdam School of Management. Consequently, we offer joint courses with some of these schools, like the Internationalisation course we run with RSM, or the Paex course for SMEs we have with FDC. Naturally

CEO

EGP-UPBS MBA

we benefit from these experiences in terms of the way we then structure some of the courses offered on the EMBA and the Magellan MBA by adopting the latest teaching methodologies etc. In addition, a number of teachers from these schools also teach on our courses.

As well as the compulsory components, could you elaborate on pathways taken by your students, i.e. electives and projects/ theses; can you explain the rationale behind the structure of the offerings from EGP-UPBS?

The third term of both the EMBA and Magellan MBA courses is essentially composed of electives chosen by the students, thus enabling them to go deeper into the development of knowledge in their chosen field or fields (accounting and finance, marketing and strategy, operations or organizational development). In the case of the full time Magellan MBA programme, this is also complemented by a compulsory final project which is supposed to integrate most of the subjects covered during the programme. This can

The programme is taught entirely in English and is supported by an international faculty with relevant professional experience and doctoral degrees in their fields of expertise. take the form of one of several options: an awardwinning hi-tech entrepreneurial programme (CoHitec) jointly run with North Carolina State University, a new business project or an internship (usually, but not always, with an NGO and often abroad, namely in a developing country). Finally, our full-time MBAs can also develop, after graduation, a formal Master thesis in a specialised management field as a result of a protocol that the Magellan MBA has with four different universities in Portugal.

The Student Body.

Portugal has historically been a country that looks out across the sea. How does a culture of diversity manifest at EGP?

In spite of its excellent position as a platform linking Europe to Africa and South America, only recently has EGP started to take full advantage of these factors in order to enhance the learning experience of its students. Since some of the fast growing economies of today include countries like Brazil, Angola and others with which Portugal and Portuguese companies have strong links, our students increasingly have excellent opportunities to interact with colleagues that have work experience in these regions. Furthermore, they have a stronger chance of being recruited by firms that have significant exposure to these regions and markets. On top of that, the

cultural makeup of our cohort is quite diverse, as is our faculty; we have teachers from the U.S.A, Brazil, Australia, Germany, Greece, England and several other places.

Can you tell CEO Magazine how important your alumni network is to your graduates?

I strongly believe that we have one of the most powerful Alumni networks in the whole of the Iberian Peninsula, especially when considering the relatively small size of the school. As mentioned before, given that EGP-UPBS has one of the oldest, high quality MBAs in Portugal, we have a large number of very successful alumni which are now in top positions in many of the most important companies in this part of the world. This is instrumental as it makes life very much easier for our Career Services in their student placement activities. But it does not stop there. Our alumni are active in many other areas. Just a couple of examples. For the last five or six years the alumni have organised a unique mentoring programme where both the recently graduated full-time and Executive MBAs can choose to have an individual mentor drawn from the Alumni Association that is usually a senior manager from an important private or public enterprise. The mentor, over a 12 month period, will then help the graduate student to establish a

professional network, help in the pursuit of his career goals, and provide relevant personal and even business advice. When you consider that some of these mentors are CEOs of top companies you begin to appreciate the tremendous value of this service to our students. Our Alumni Association also organise various events and dinners, at times with EGP, and this has become a central arena for our students to engage in active networking. To give you an example, an event which took place in January of this year (the Grand Leadership Conference) attracted more than 1,000 participants, most of which were our alumni. Other events have involved guest speakers like Pedro Solbes (former EU Commissioner and the Finance Minister for Spain), the Portuguese Minister of Finance, CEOs of major companies and business gurus, etc. Naturally, students and EGP attach significant importance to the activities of the Alumni Association and the EGP Board constantly meet with Alumni representatives in order to develop new and indeed sometimes very bold initiatives.

The New Horizon

While the entry requirements obviously select for competence in hard skills, the curriculum seems to place an equal emphasis on soft skills such as communications, organisational behaviour,

CEO

European MBA Review

leadership, and negotiation. Could you tell CEO how such pertinent business skills are taught and the source of the expertise, whether in house or externally sourced?

We focus on the development of hard skills and soft skills. In terms of recruitment, more and more, companies tell us that the differentiating factor in the selection of students relates to perceived skills in things like teamwork, communication, leadership, creativity etc. and not just the usual hard skills which companies almost take for granted when hiring an MBA from a quality school like ours. We tend to use both inhouse and external resources to develop the soft skills. For instance, our outdoor teambuilding activities are run with the assistance of professional tutors from an external company given the degree of specialisation required. The final results from such external collaboration are fantastic. We constantly bring new learning methodologies to the table in order to develop soft skills that include coaching, role play, simulations, outdoor activities etc. Biographies: ★★ Jorge Farinha is the Dean of EGPUniversity of Porto Business School.

“There are... those who let it happen, those who make it happen, and those who wonder what happened.” 1

We have several approaches to CSR. First, we have the more traditional courses on CSR and business ethics that students take at an early stage of their course. Also, we are constantly in touch with our faculty in order to ensure that they build a CSR and business ethics dimension into the course. However, one of the most important approaches has to do with several protocols with NGOs that lead our students to participate in the development of CSR projects as a final project in their MBA. To give an illustrative example, we recently signed a protocol with TechnoServe, an NGO based in the U.S. with activities in a number of developing nations on several continents, with which our students will develop their MBA final project in the form of an internship. Specifically, our MBAs will help with the development of sustainable businesses for rural communities in Mozambique, Africa. I cannot think of a better example of fulfilment of social responsibility on the part of our school or students.

We have great ambitions to become a reference school in the Iberian Peninsula. We are an internationally accredited school, but increasingly I think that we are being recognised, not just for the quality of our teaching and our hands-on approach, but also as a gateway for students that have aspirations outside of Portugal. In addition to this, the Portuguese culture is a cross-section of European, African and Asian influences given the global reach that Portugal has had over the last 700 years. To put it in very simple terms, I think EGP-UPBS is ideally placed to give students a managerial and cultural mindset that fits with the challenges that a globalised marketplace demands. All of this takes place in the beautiful and lively city that is Porto, a World Heritage site. It is great to think that a student can have all of this and at the same time enjoy high calibre managerial training at an internationally accredited school with strong links to the corporate world.  1 John M. Richardson, Jr.

Corporate and Social Responsibility has become a much discussed element of business. In regard to the aforementioned, can you outline EGP’s approach to teaching; integral or bolt-on?

What are EGP-UPBS’s plans for the future of their programmes? How will they be taking their offerings forward and increasing their place within the market and further developing Porto as a destination for executive education?

JOIN THE HANKEN MBA COMMUNITY Two-year part-time executive MBA programme Specialisation alternatives: service and relationship marketing, finance, and international management. “The most valuable thing Hanken MBA gave me was membership to a truly unique community - no matter how rich your experiences have been, there’s always someone in your Hanken MBA network who can add insights.” Hanken MBA alumni, Timo Nyman, Head of construction & real estate financing, Nordea

Hanken School of Economics is a leading, internationally accredited university in the field of economics and business administration. Hanken’s research operations are of an internationally high standard and it maintains close and intensive links with the business world.

WWW.HANKEN.FI/MBA Contact us: mba@hanken.fi

AESE MBA

to Graduate Studies in Portugal CEO Magazine talks to José Ramalho Fontes »

What makes the Executive MBA AESE/ IESE AESE MBA so distinctive?

Our MBA is distinctive from others thanks to the pragmatic character set by the Case Method. AESE, the first Business School in Portugal, has adopted since its foundation in 1980 the same methodology of excellence in Executive Education used by both Harvard Business School and IESE Business School. The aim is that of preparing leaders and top executives for the complex task of decision-making. AESE challenges participants to take responsibility for change by promoting an intensive training focused on improving and superseding skills. The Executive MBA has a joint diploma with IESE Business School, a school that constantly figures in the top of international MBA and Executive Education rankings. The joint diploma makes the programme even more demanding and reputable. AESE/IESE Executive MBA has been awarded the EPAS accreditation by the EFMD (European Foundation for Management Development) since 2007. The Executive MBA AESE/IESE promotes entrepreneurship and later on the programme participants must prepare a business plan as a final project that is supposed to be implemented (NAVES, in Portuguese as New Adventures Enterprises…). In fact, around 12% of the projects

presented were launched as start-up businesses, some of them internationally. The international weeks in Spain, the USA and India, in reputable business schools, are determinant factors towards the systematization of knowledge and towards the unique and changing experience provided by our MBA.

Kindly discuss the role of the Case Method of teaching within the programme.

The Case Method is the starting point for learning based on real cases that depict similar situations to those faced by the participants on a daily basis. To start with, the participants are required to study the cases and do an individual diagnosis and to present solutions taking on the role of the decision maker. Then, group work allows for the debate of different perspectives and experiences drawn from the participants’ different academic and professional backgrounds. Finally, in the general session, the participants gather with a professor that guides the case discussion so that leaders find out the key issues to be addressed in each case. This way, when the participant faces a similar situation, he or she will have the necessary skills to deal with situation with more objectivity and pragmatism and with broader perspectives.

The relationship between theory and application is a difficult one to manage effectively. How does AESE ensure that students develop essential social and intrapersonal skills while they learn?

The Case Method stems from the individual experience towards the findings or the systematisation of the theory. With this inversion of the traditional methods of teaching, AESE programmes foster the grasping of knowledge and the improvement of skills that experienced executives have acquired throughout their roles as leaders. The debate of different points of views promotes a privileged atmosphere for the development of soft skills. The atmosphere of our Executive MBA, carefully designed around our beautiful building, is another component of the MBA experience that underlines our differentiation.

Kindly outline the academic procedures through which candidates are assesses and degrees awarded.

For the Executive MBA AESE/IESE the academic assessment is a standard one with written tests, personal tasks, fulfilment and evaluation of individual performance in the plenary. The Executive MBA AESE/IESE Diploma is awarded by both Deans, from AESE and IESE. The Executive Education programmes have no academic assessment but the participants are guided by the Programme Director in the plenary discussions and must attend the sessions. At the end, an AESE Diploma is awarded.

CEO

European MBA Review

Are loans an option on either course for those with less financial fluidity?

The candidates for the AESE/IESE Executive MBA are able to apply for funding of tuition fees.

Does AESE extend the option of scholarships to outstandingly strong applicants?

Yes! We give a scholarship to a manager of an NGO, honoring the first MBA Director, Prof. Carlos Parreira, and we have a policy defined to grant scholarships to students with a very good background and an outstanding GMAT grade.

The programme stresses the importance of holistic education. Kindly outline the course structure that allows the teaching of such ‘human’ based skills.

The different academic areas, such as Corporate Governance, Finance, Commercial and Marketing, Operations and Innovation, and Human Behaviour, when perceived in an integrated manner, are able to contribute for better results. But above all, the proposed humanistic paradigm of the person, chosen by AESE founders, is a powerful tool to understand the way in which workers interconnect in each organization. Based in the Christian way of understanding the whole, it links professional, familiar and personal lives in an articulated way.

Portugal is ranked in the Top-20 most desirable places to live. Do you feel this adds further incentive to a potential AESE applicant?

Given that AESE’s mission is to basically form working executives, our programmes are geared towards executives living in Portugal, national or foreign natives. However, there are special agreements for foreign participants that want to benefit from the Portuguese environment and have no professional assignments here.

AESE works closely with institutions in Spain, India and the United States. What is the nature of these relationships and what benefits do they bring to the MBA Programme?

The international partnerships with IESE Business Scholl, Ross School of Business and the IIM Ahmedabah, all reputable institutions, contribute towards AESE maintaining its high level of academic quality. The permanent contact with

Biography: ★★ José Ramalho Fontes is the Dean and Professor of Operations and Technology at AESE – School for Management and Business.

state of the art management and the networking created with the local executives in the US and in India allow the MBA participants to have an insight into the way business is done in these paradigmatic markets.

Kindly explain the MBA student selection process and criteria for entry.

The admission to the Executive MBA AESE/ IESE is done through a strict admission process. It is aimed at graduates with five years work experience after the completion of their degree. They are also required to take a GMAT test, have an interview with the Programme Director, and hand-in two reference letters. 

KOÇ MBA

An MBA at the

Gate to Asia

Amadeus Finlay speaks to Prof. Zeynep Gürhan-Canli »

We have very strong connections with businesses in Istanbul, which help to ensure our programmes are creative and cutting-edge.

MBA programmes across the globe are often keen to highlight and promote their ‘key vision.’ What, therefore, is the vision and objective of the MBA programme at Koç?

Our vision is to produce the most capable graduates by providing a world-class education in both our Executive MBA and full-time MBA programmes. We envision that they will contribute to the benefit of Turkey and humanity at large. Within the light of this vision our objective is to provide knowledge, insights and the skills needed for success in today’s business environment. In addition, we aim to develop career direction and acceleration for young professionals and junior managers, nurture personal development as well as leadership skills in order to ensure that our managers are successful, socially responsible and ethical in the business arena.

Koç University has based its educational programme on the principle of ‘creative teaching and participatory learning.’ Kindly expand upon this teaching method and what benefit it brings to the students.

We place a significant amount of importance on creating an interactive learning environment. We use case studies, simulations, project assignments and guest speakers from the industry to foster such

an environment. With those elements, faculty members are able to facilitate an active learning process and students have the opportunity to experience a real life business atmosphere. We have very strong connections with businesses in Istanbul, which help to ensure our programmes are creative and cutting-edge.

I notice that Koç emphasises a ‘Study Team’ approach to its programme. Kindly explain what this means and what the thought process is behind including it in the course.

In our MBA programmes, students have to work in “Assigned Self-Managed Study Teams.” We assign group members in order to simulate the realities of business. Students develop their skills in order to cooperate within the teams and finish the projects within the deadlines given by the instructors.

Given the nature and demands of modern business and senior management, academic institutions are placing increasing emphasis on the value of Social Corporate Responsibility and other similar ethical issues. What is the position of Koç on the value of including these elements in the MBA programme?

CEO

European MBA Review

In our Entrepreneurship MBA class, students need to develop new business venture ideas that are not only profitable but also contribute to the society in which the business operates. We are paying utmost attention to CSR, and this starts at the interview stage with MBA and EMBA candidates. We are keen to emphasise our views on CSR at the interview stage so that our potential MBA students and future alumni understand how important it is to have an ethical mindset. Koc Graduate School of Business enjoys partnerships with PRME - Principles for Responsible Management Education - and United Nations Development Programme. In our Entrepreneurship MBA class, students need to develop new business venture ideas that are not only profitable but also contribute to the society in which the business operates. We also have CSR courses that are required in the EMBA programme and an elective in the MBA programme.

Does Koç offer any form of financial aid or scholarships for its students?

With respect to our Executive MBA programme, companies can support their employees in the form of sponsorships. For our MBA programme, we offer limited scholarships in the form of 100%, 75%, 50%, or 25% tuition waivers.

Current trends indicate that student numbers are increasing and, as a result, demand for places is becoming higher. Do you feel that this trend compromises the value of an MBA and how has Koç dealt with the increase?

We have various programmes for different student profiles. Participants who have more than five years of work experience can pursue an Executive MBA; those who have less than five can enrol in

the MBA programme. This year we introduced a new programme for pre-experience students, Masters in International Management (MIM).

Earlier this year, your Prime Minister famously stated that Turkey was “able to stand on its own feet” in the face of the recession. What are your thoughts on this claim and how has the financial crisis affected Koç?

The Turkish economy has learnt its lesson from the last domestic financial crisis. With the help of regulations, which are of a very high standard, the economy is much stronger. Koç GSB is not affected by this financial crisis. We have increased the number of students in the Executive MBA programme by 20% and successfully established a new programme. 

What is the Koç MBA Club?

This is a student club whose members are from our MBA programme. They organise conferences, seminars, panels and social activities and try to improve dialogue between the business world and the university.

ceo_baski.indd 1

Biography: ★★Dr Zeynep Gürhan-Canli gained her Ph.D. from NYU Stern in 1997. She is currently Professor of Marketing and Migros Professor of Marketing at Koç University. She is also the Director of the Graduate School of Business at the school as well as the Associate Dean.

12/20/10 5:16:16 PM

Spotlight: Macedonia

SPOTLIGHT: MACEDONIA

We’re Coming to Get You: The MBA Programme at UACS Amadeus Finlay, CEO Magazine

They say the sky’s the limit, but really, there is no limit...

– Valon Saracini.

ust like the juvenile great white shark, University American College Skopje is a little fish with big aspirations and a voracious appetite. And like the baby great white, UACS is set to grow up to become one of dominant players in its arena; academic business. That is, of course, if the city of Skopje itself can keep with the pace of the region’s most ambitious business school. From just 35 students when the school was founded in 2005 to over 1100 in 2010, UACS has undergone an exponential rate of expansion. Indeed, not only has it grown at an astounding rate of knots, but it also has enjoyed international recognition from renowned academic figures such as Dr Philip Kotler. But the school’s fortes do not stop there. Among its partners and collaborators, UACS can point to the likes of T-Mobile, Deloitte and the Red Cross, as well as CEO Magazine, to name but a few. In addition, its faculty is comprised of the finest international minds, educated at the world’s leading business schools. In short, the institution’s credentials are impressive. Yet, why have you never heard of them? As Dr Emil Gjorgov points out, the answer is very simple. UACS is hidden away by its location. And if you were to be honest, if I was to ask you to name the first five countries to pop into your head, I daresay that Macedonia would not feature on that list. Which, I may say, is no fair reflection on either UACS or Macedonia. Thus, I felt it was apt to make the pilgrimage to Skopje myself not only to investigate this gem of Balkan education, but to see what the country itself is like. At this point, however, let me make one thing perfectly clear. The Wall came down in 1989 and Macedonia, like the rest of Eastern Europe, sprung out of its shackles. There was, of course, the unsettled period as the former Yugoslavia got to grips

with the change, but things are peaceful again and the focus is only on one thing; the future. The big project is Skopje 2014. The city is undergoing a serious facelift and process of rejuvenation, reminiscent of the changes seen in Belfast in the late 1990s, which promises to have the Macedonian capital back to greatness within the next half decade. When it all comes together, which it will do very soon, Skopje will be stunning. It is also, as Valon points out, highly affordable. Typical rent is €100 per month and a meal at one of the many quality restaurants in the city costs the same as a few pints would in your local in London. This affordability is reflected in the price of tuition fees at UACS. At €2000 per annum, it blows its competitors out of the water. And not only on price, but also quality. Whereas other schools in the region persist in a stale teaching

method that has not changed since the dawn of time, UACS offers a wide range and depth of courses, academic flexibility, exceptional facultyalumni relations as well as a wilful stress on industrial placement to provide students with practical business acumen. University American College Skopje is determined in its pursuit of international recognition and connections. Without this, I am told, what is the point of a business programme? Indeed, as the rector, Dr Bojadziev, comments, ‘we are without doubt the best in our region so watch out; we are coming to get you.’  Biography: ★ Amadeus Finlay is the City Editor of CEO Magazine and the Group Editorin-Chief of the Callender Media Group.

CEO

BANGOR BUSINESS SCHOOL B A N G O R BExecutive U S I N E S S SEducation CHOOL

Executive Education

The Management Centre, Bangor Business School - a leading-edge The Management Centre, Bangor Business School -venue, a leading-edge residential executive development and conference located in residential executive development andoutstanding conferencenatural venue, beauty located in one of the UK’s most scenic areas of one of the UK’s most scenic areas of outstanding natural beauty

THE BANGOR EXECUTIVE MBA THE BANGOR EXECUTIVE MBA Experience a prestigious Executive MBA in the wonderful scenic Experience a prestigious location of North Wales. Executive MBA in the wonderful scenic location of North Wales. g Quality 4* full board accommodation inclusive g Quality 4* full board accommodation inclusive g Modular block study, fits busy working lifestyle g Modular block study, fits busy working lifestyle g Delivered by experienced & highly qualified international g Delivered experienced & highly qualified international faculty andbypractitioners faculty and practitioners

Change your life, your business and how you think... Change your life, your business and how you think... T: 01248 365982 / E: robert.smith@bangor.ac.uk T: 01248 365982 / E: robert.smith@bangor.ac.uk www.themanagementcentre.co.uk www.themanagementcentre.co.uk

Bangor Business School rated UK’s No.1 business school for research in Bangor Business School rated UK’s No.1 business school for research in Accounting & Finance (RAE) 2008. Accounting & Finance (RAE) 2008.

UACS MBA

BLAZING THE BALKAN TRAIL: The MBA at UACS

Amadeus Finlay speaks to Dr Marjan Bojadziev and Dr Nikica Mojsoska-Blazevski »

There is great depth to the MBA programme at UACS in terms of courses offered. Considering the number of courses available, are students able to tailor their MBA study to their personal needs? M.B. Yes, absolutely. Our MBA programme consists of four layers:

1. ‘Strategy and Positioning’ 2. ‘Developing of Conception Skills’ 3. ‘Research Skills and Statistics’ 4. ‘Concentration of a Chosen Area.’

We also offer the courses, ‘General Management’, ‘Marketing Management’, ‘Corporate Finance Banking’ and ‘Human Resource Management.’ We believe that so far, the UACS MBA programme has been very accessible for students given that they are consistently able to meet their goals and needs. Furthermore, as the MBA requires that a student completes a dissertation, if there is a need for an area of study more tailored to their individual needs then they can do this through the process of writing a thesis.

Essentially, aside from compulsory courses, we are giving students the freedom to create their own programme. N.M.B. We are not trying to just provide specific skills for our

students, but to provide more general and competitive skills as well analytical and critical thinking. But before the student can tailor their course, they need to be able to achieve success in these general skills. They then can make choices in what case studies to study and what dissertation topics they select. We are also aware that, given the career of the student in question, some courses provide more relevance to their working lives than others. Of course students, who may be focused on one area of business, but nurture an interest in another, are free to explore their academic curiosity. Essentially, aside from compulsory courses, we are giving students the freedom to create their own programme.

CEO

European MBA Review

in business, economics or a similar related degree. For all the other courses on the programme, however, we are free to enrol students from other academic backgrounds. Once enrolled, the students must complete a minimum of three and a maximum of six courses as pre-requisites.

vidual does not need to take time out of work. We have, therefore, designed our programme so that courses are delivered on the weekends or late afternoons. Next year we plan to introduce concentrated, long-weekend study elements to the programme and to adapt our course delivery methods to allow more intense study sessions. So far, however, we feel that our programme/work

N.M.B. We have two administrative pre-requisites. One is the work experience of the applicant, which is set at a minimum of six months. The other, as Marjan has touched on, is the consideration of the undergraduate degree of the student. Alongside our three to six course structure, the students are expected to prepare an essay or exercise on a topic of their choice.

The nature of an MBA programme is to provide an extra element of managerial acumen to people in the business world. How does UACS strike the balance between providing an education without affecting the individualâ&#x20AC;&#x2122;s career? M.B. The whole delivery is structured so the indi-

Anybody can learn the intangible elements of business, but it takes somebody with feelings and knowledge to pick you up when you are down. balance has been functioning well, even though it is demanding and challenging. Our students must be, and are, motivated enough to commit every weekend to the programme. Also, we feel we offer a more coherent and developed course than other local rivals as well as being able to attach an attractively low cost to the programme. Yet, we stress that quality is our number one commitment and I believe that this is more than demonstrated in all areas of our MBA programme.

Does UACS have any prerequisites for applicants or do you accept undergraduate degrees from any discipline? M.B. For MBAs, only the â&#x20AC;&#x2DC;Corporate Finance

Bankingâ&#x20AC;&#x2122; element requires a pre-requisite degree

I notice there is a wealth of senior staff working on not only the MBA programme, but throughout UACS. Do you feel that this reinforces your academic credentials? M.B. This has been part of a central policy that

has been our driving force from the very beginning. Most of our professors come from one of the following backgrounds: 1. Professional business environments; for instance, I was a CEO in the finance industry for more than a decade. 2. Internationally recognised institutions. 3. International professors; we focus on developing and maintaining international collaboration which is valuable because, not only does it bring in expertise, it expands our own horizons and possibilities. 4. Junior faculty members who are developed and educated at UACS. We believe in nurturing local talent, people such as Valon Saracini and Nikola Cuculeski, and providing them with Ph.Ds and educational acumen. Currently, we have 23 junior members of staff studying at UACS to obtain their Doctoral degrees. N.M.B. I am sure that it does, and like all our teaching staff, I am an advocate of emphasising the importance of having senior members of faculty. Students are becoming increasingly demanding of academics and expect only the finest educators when they sign up to an MBA programme. It is then crucially important to have a faculty who can provide and live up to the needs of our student body.

CEO

UACS MBA

If you are at liberty to discuss such matters, how does the university fund the UACS programme? M.B. At the moment we are self sustainable. Dur-

ing our first few years, funding was provided by the founders. This is a non-profit, private establishment and the idea remains that we create something that has a return of academic quality as opposed to financial gain. Any money we do make we invest in expansion and the constant modernisation of the campus as well as providing our students with the finest resources available. We also invest in special evenings for our students in order to not only give them a solid academic base, but an opportunity for enjoyable social interaction. We also welcome corporate funding and sponsorship through companies who participate in providing financial support and scholarships. Through this we wish to increase awareness, social responsibility and entrepreneurship. Additionally, we contribute to company sponsorship so, if we receive €10,000 for a project, we will add €5,000 to the pot. This will then increase revenue and provide more scholarships for our students. N.M.B. The most striking thing is how affordable it is. If one compares UACS with other providers in the region, we stand out given our low price accompanied by a level of quality that exceeds the cost. But we are sustainable and are not only able to cover our costs but also have a little extra that we can invest in student run events, as touched on by Marjan.

Clearly this level of expertise sets UACS apart from rival institutions. What else do you feel distinguishes UACS from other schools? M.B. I believe what is most significant is that we

operate on, and offer a, ‘Three I’ format:

❯❯ Internationally Accessible Curriculum

❯❯ Internationally Recognised Textbooks and Case Studies and Contacts (for example, Harvard Business School)

❯❯ International Professors and International Students: 80% of our faculty is international N.M.B. We are a very young institution and so

can build upon a fresh vision and set the way forward from a progressive Twenty-First Century mindset instead of being tied down by regressive traditional values. From my perspective as Dean, I am focused on ensuring that everything is working properly today. This is in harmonious contrast with Marjan whose ideas are long-term. Together we ensure that UACS has a stable footing on which to build as well as a coherent idea of where we are going and what we want to achieve. We also have strict standards that must be met as well as a modern and Westernised approach to teaching that is more transparent, aware and

Making better people makes better companies; a process which, in the end, will make a better society. colourful than that of rival institutions. We base the programme on carefully selected case studies and practical learning. In addition, as touched above, we have a very strong faculty and nurture a thoroughly global vision. This we hope will expand into distance learning.

UACS, it’s amazing.

At CEO Magazine we feel that UACS is one of the world’s rising stars. Kindly outline the institution’s vision for the next five years. M.B. We are very happy that we have fulfilled and

implemented our original 2005 vision. Thus, we are confident we can do the same again. Firstly, we are focused on getting more international recognition and accreditation. We are candidates for AACSB and we believe this process will be complete by August 2011. Secondly, we wish to further increase our percentage of international enrolment.

Does the MBA at programme at UACS manage to incorporate not only exceptional education but also an understanding of the importance of accomplished interpersonal abilities in the workplace?

CEO

European MBA Review

M.B. Definitely. This is our prime target. In fact, for tomorrow’s class I am preparing a Harvard article concerning the importance of competent and informed social interaction. One of the beauties of being a manager is not the dollars, but the fact that one is in a position to create better people and in doing so create a strong legacy. At the end of the day, if you were to ask what it is all about, the answer would be that successfully working with people and creating a strong legacy is what matters most. Anybody can learn the intangible elements of business, but it takes somebody with feelings and knowledge to pick you up when you are down or to properly award success. Making better people makes better companies; a process which will, in the end, make a better society. N.M.B. As you will see in our classrooms, we

are very focused on ensuring that our students achieve coherent social abilities. This is because we appreciate the nature of the modern business environment and wish to nurture a positive working world for the future. In addition, it also creates a pleasant learning environment for our students and a means on which to build close relationships not only for now, but for when they graduate.

UACS has a strong and visible international presence. Do you feel this is one of UACS’s strongest ‘selling points’?

M.B. Yes indeed. We already enjoy a visible international presence, but we wish to continue to build on that. If we do not set high goals, then what do we have? We are in strong collaboration with EFER and so far have managed to put six of our professors through the Learning Certificate process at Harvard Business School. We are also part of ASECU and have students working on Ph.Ds on a cross-Balkan education programme. We will also be in London in the spring for a cross-European alumni and faculty meeting. All these things indicate how successful we have been thus far and make us very proud as well as very happy with what we have achieved. 

Biographies: ★ Dr Marjan Bojadziev is the Rector of the University American College Skopje and was educated at Faculty of Economics-Skopje and the University of St.Cyril and Methody. He is an academic member of the European Corporate Governance Institute in Brussels as well as a member of the American Marketing Network. Dr Bojadziev is a former CEO of some of the largest Macedonian banks. ★ Dr Nikica Mojsoska-Blazevski was educated at the University of St.Cyril and Methody and Staffordshire University. She worked in the Ministry of Finance from 2000 to August 2009. Dr Mojsoska-Blazevski joined UACS in 2005 and was elected Dean of the School of Business Administration in 2009.

AMERICAN STYLE, AMERICAN WAY, AMERICAN COLLEGE. University American College Skopje Treta makedonska birgada bb | Skopje | 1000 Macedonia

www.uacs.edu.mk +389 2 2463 156

IMD MBA

Off the Beaten Track With a career reflecting my social IMD 2010 candidate Federica Montecchi’s career path responsibility interests, was rarely as planned, but always seemed right. I would have more effect on society and from analyzing potential M&A deals to preparorn and bred in Reggio Emilia, a small the business plan for the Group. Under the Btown near Parma, Italy, the 28-year-old is, ingguidance feel more fulfilled at of a boss who was a true mentor, she on the one hand, the picture of a relaxed norththe end of the day. also helped facilitate Marazzi’s $1.4bn IPO as ern Italian with waving hands, sparkling eyes Federica Montecchi, IMD Candidate »

and a life-loving laugh. On the other, she has a strong work ethic and a task-oriented, downto-business personality. Having done an internship with JP Morgan in London, Federica saw herself going to the world of international finance after university. Then fate, as she puts it, intervened. A change in family circumstances meant that she instead chose a job close to home, with Marazzi Group, an Italian firm dealing in the manufacture and marketing of ceramic tiles. With direct exposure to the company’s the top management, she was able to test her wings early in a broad range of high level business activities:

well as a market entry strategy for China. After two years, Marazzi sent her to China to help set up the business unit there. Working in a very different culture was both challenging and gratifying, but after two years she felt ready both to advance her general management skills and to work back in the European market, closer to home. These dual desires led her to IMD. She knew IMD by reputation and was attracted to its strong focus on leadership development and solid connections with companies in industry. IMD turned out to be another fateful step, onto a path beyond career advancement. Federica

had long been involved with social activity, for instance helping nuns in her hometown aid disadvantaged children, or with a charity in China that helps children with heart defects get surgery. But she had always seen this as something outside of herself as a professional. At IMD, some courses incorporated concepts of corporate social responsibility. The ideas sparked by these discussions came crashing to the fore during the MBA discovery expedition in South Africa. “Our team worked with an organization that helps entrepreneurs start small businesses,” she explains. “I saw how our business skills could make a real difference. With a career reflecting my social responsibility interests, I would have more effect on society and feel more fulfilled at the end of the day.” Fate also had something else for her in Lausanne: a new relationship that has her thinking, for the first time, of how to balance her work life with a partner’s career, a home life, and one day a family. Her job search is focused on Europe, targeting businesses in the social arena and companies with CSR track records, where she can apply her skills directly or indirectly to socially responsible business activities. “I’ve had unexpected turns in my career before,” she says. “But, as Seneca’s quote exemplifies: ’Fate leads the willing, and drags along the reluctant‘. I am confident that with dedication and passion, I will achieve my aims.” Acknowledgment Courtesy of IMD Switzerland: www.imd.org/news

CEO

Cyprus Institute of Marketing

CEO Magazine talks to the Cyprus Institute of Marketing »

Getting to Know the Cyprus Institute of Marketing

You were the first business school to be established in Cyprus. Since your inception in 1978 what has been the key to your success?

The Cyprus Institute of Marketing (CIM) was established in Nicosia in 1978 and opened in Limassol in 1984. CIM’s objective was to promote the science of marketing and service a gap in the Cyprus educational system. It is thus the oldest business school in Cyprus. When, in 1978, Theo Hadjiyannis, the founder and Director-General, decided with a number of Cypriot businessmen to establish an Institution of Marketing, the notion of marketing hardly existed. In the years that followed, CIM grew from an institution offering marketing programmes to a fully-fledged business school offering seven bachelor programmes, one postgraduate diploma and an MBA. Despite tremendous success, the CIM team remains focused on offering quality education at an affordable cost. Our programmes are now recognised by many European institutions, like the Chartered Institute of Marketing and many UK and US Universities. As such, our students have the ability to continue their studies in Europe or the US should they so wish. Over the past 33 years, CIM has been a European centre for the development of marketing science and has allowed more than 5000 Cypriots to acquire qualifications with a marketing orientation.

Your on-campus classes run in the evenings. How important is this to the working professionals that you service in the local market?

CIM has been a pioneer in adult learning. CIM has always offered evening classes for in-career individuals who have not had the chance to study

We have an alumni membership of approximately 3,000 individuals in more than 70 countries around the world - 90% of our alumni are in employment and many of them are in leading positions across industry. abroad but have the will to learn and achieve personal development. It has thus been rightly characterised as a ‘Second-Chance Institution’ and its motto is ‘Learning never ends’. CIM is unique in that it combines theory and practice, providing its students with the best prospect for employment.

Kindly talk to us about your distance learning options.

The Cyprus Institute of Marketing Ltd (BVI) is an affiliate company that deals exclusively with distance-learning courses in more than 50 countries around the world. It is an autonomous entity which offers internationally recognised bachelors and MBAs through the distance-learning/

home-study method, thus enabling students across the globe to acquire a prestigious qualification without disrupting their personal or professional lives. The distance-learning courses offer the flexibility that today’s professionals demand and as such they have been a great success.

It is refreshing to see that class sizes are carefully controlled. What impact does this have on the learning experience of the student?

We maintain a family atmosphere and treat every student as an individual and not just a number. That is why all of our classes are made up of around 15-20 students. We also believe strongly in two-way communication and not

CEO

European MBA Review

The first 33 years have laid solid foundations, but we can promise that this is only the beginning.

the classic way of lecturing at university level whereby the students are passive recipients. All students are encouraged to raise issues for discussion that come up in their everyday experiences. The students benefit the most and come out fully equipped to succeed in their respective fields.

Since our students are professionals, our lecturers have to be professionals in order to understand their needs and wants.

There are some subjects where itâ&#x20AC;&#x2122;s often more effective to have someone with an active outside day to day involvement doing the teaching. With this in mind, to what extent do use external faculty?

Our faculty is made up entirely of in-career professionals. Since our students are professionals, our lecturers have to be professionals in order to understand their needs and wants. Theory is only a part of the course; it must be combined with real life examples, which is what we do. As a result of this system, we can afford to have the best lecturers tutoring our students. CIM lecturers enjoy the experience at CIM and lecture because it fulfils a personal need, not because they have to do it for work purposes. As such, they are all highly motivated and excited about their lecturing.

In terms of career management, how much support does the CIM offer?

The majority of our students are already employed. However, a lot of them seek a better career and this is where CIM can help. We have excellent links with industry and are thus in a position to help any student who seeks employment to

CEO

acquire a prestigious job in Cyprus or in the region. At the same time, we can use our alumni network to offer advice to students who seek employment and at regular intervals we invite successful alumni to give guest lectures.

The economic crises impacted Cyprus relatively hard, consequently, are the majority of your students self-funded?

We were waiting for this crisis! CIM has the lowest fees among the business schools in Cyprus and this is naturally benefiting us greatly. Of course we have a lot of students who are sponsored by their companies, but also a large number that are self-funded. For those students which are self-funded, we allow interest-free instalments which are split throughout the academic year.

Upon registration, each student receives a full set of lecture notes for all subjects and lectures. Whilst of tremendous benefit to the student, it requires a great deal of CIM. With this in mind, how often do you update your MBA offering?

This is of added value to all our students. They donâ&#x20AC;&#x2122;t have to buy all of the books but can depend, to a great extent, on our lecture notes. This is unique as no other institution offers something similar. The full set of lecture notes is included in the fees and our students have a clear structure to follow when revising for their exams. A lot of our students, even after they graduate, refer back to their notes for advice.

Cyprus Institute of Marketing

Despite tremendous success, the CIM team remains focused on offering quality education at affordable cost. Value for Money

You offer exceptional value. How are you able to maintain the quality that you achieve and price your programmes so keenly?

We have a very strong administration team which oversees academic standards and, at the same time, carefully monitors CIM’s overheads in order to avoid passing any additional costs on to the students. We believe in efficiency and effectiveness in all aspects. Furthermore, we don’t have to cover the cost of full time lecturers.

Students can pay their tuition fees in monthly instalments and on an interest-free basis. What impact does this have on application volumes, both locally and internationally?

This is another added benefit to our students. CIM understands that the majority of its students are family people in employment, therefore, we try to minimise the financial burden by allowing them to pay in interest-free, monthly instalments. This of course increases the amount of

applications we receive and allows the Admissions Office to select the best students for enrolment on to our programmes.

events, such as our annual summit and open lectures. For us, our alumni are a great asset and a lot of new students come from alumni referrals.

Career Progression

The Future

Career progression is quite often used as a benchmark when assessing the performance of a business school. Kindly elaborate upon the size and success of your alumni.

What can new and existing students expect from CIM, in terms of programme innovations, over the next 12 to 18 months?

We are involved in the development of ambitious projects like a Dual Degree with European partners. We intend to develop our executive education sector further and are also involved in organising major conferences and summits, both in Cyprus and abroad. The first 33 years have laid solid foundations, but we can promise that this is only the beginning. 

SCHOOL PROFILE Over the past 33 years, CIM has evolved into a major hub for the development of marketing science in Europe and the rest of the world.

List of Contributors

A AESE

Association to Advance Collegiate Schools of Business

HEC

AVT

I IMD

Hochschule Pforzheim University

B BBS

INSEAD Knowledge

Chicago: Booth

KoĂ§ University

Cyprus Institute of Marketing

K L

London Business School

Columbia Business School

Lorange Institute of Business Zurich

Concordia University: John Molson

Nanyang Technological University

E EADA

Nordakademie

EGP - University of Porto Business School

S SBS Swiss Business School U The University of Pennsylvania:

Hanken University

EMBA World

Wharton

ENPC School of International Management

The University of Westminster: Westminster

ESAN

UACS

European Foundation for Management Development

University of Arkansas â&#x20AC;&#x201C; Sam M. Walton College of Business

Fordham University: GSB

Georgia WebMBA

CEO

University of Zurich

G e o r g i a We b M B A ® BOARD OF REGENTS OF THE UNIVERSITY SYSTEM OF GEORGIA

Known for its accreditation, a f f o r d a b i l i t y, a n d c o m m i t m e n t to student ser vice, the Georgia W e b M B A® i s a m o n g t h e w o r l d ’s top -ranked online MBA programs.

❱ Professi onal A ccr edi tati o n ❱ Low Pro g r am Tui ti on Co s t ❱ A ccelera ted Pr ogr am ❱ Q ualifie d G r aduate Facu lt y ❱ A pplied Focus ❱ Team - ba s ed L ear ni ng ALL WEBMBA SCHOOLS ARE FULLY AACSB ACCREDITED

RANKED BY GETEDUCATED.COM IN THE TOP 30 AACSB “BEST BUYS” AMONG ONLINE MBA DEGREES.

It’s all about access...

Fordham Graduate School of Business-Executive MBA

It’s all about access...

at Lincoln Center (Manhattan) Campus and Fordham Offered Graduate School of Business-Executive MBA Westchester Campus (Harrison, NY) Meets one weekend a month

Fordham Graduate of Business-Executive MBA Offered at LincolnSchool Center (Manhattan) Campus and Professionally diverse student group and world-renowned faculty

Westchester Campus (Harrison, NY)

International capstone trip combining pratical business analysis

Offered at Lincoln Center (Manhattan) Campus and Meets onediverse weekend a monthexperiences skills with cross-cultural Westchester Campus (Harrison, NY)

Professionally diverse student group and world-renowned faculty Meets one weekend a month International capstone combining pratical businessfaculty analysis Professionally diverse trip student group and world-renowned skills with diverse cross-cultural experiences 86 | CEO

86 | CEO

International capstone trip combining pratical business analysis skills with diverse cross-cultural experiences