Online MBA 2014 by Education Post

Online MBA

2014

http://www.educationpost.com.hk/online-mba-dec

• Tide turns for distance learning • A perspective from students • MOOCs: a better bet for business education?

Study for an international recognised British MBA in Hong Kong • One of the world's most flexible MBA Programme • 100% distance learning • Students can choose the study language in English and/ or Chinese • Pay on a course-per-course basis • No mandatory group or project work, examination only • Students may enrol into the HKU SPACE Examination Preparatory courses to enhance the learning experience

17 December 2014 (Wed) / 27 January 2015 (Tue)

Time:

7:30pm-8:30pm

Venue:

Fortress Hill / Admiralty OR Book an appointment with the Programme Team for an

Individual Consultation For any enquiry, please contact Ms Helen Fung Contact No.: 2910 7610 / Fax No.: 2861 2404

Email: hwmba@hkuspace.hku.hk

Non-Local Higher and Professional Education (Regulation) Ordinance These are exempted courses under the Non-local Higher and Professional Education (Regulation) Ordinance. It is a matter of discretion for individual employers to recognise any qualification to which these courses may lead.

CONTENTS Feature

4 8

Tide turns for online MBAs Freda Wan What rankings tell us FREDA WAN

Expert

12 14 20

Choosing your best online MBA DONNA LIN NILES Distance MBAs & the unique opportunities they provide CAYLEIGH-MAY FORBES MOOCs: a better bet for business education? LAURIE PICKARD

Interview

22 24

A Warwick graduate shares how she fit an MBA into her busy life FREDA WAN A perspective from a current student in a top-ranked online MBA FREDA WAN

In The News

Online MBA traps to avoid RANDEE STEVER

Feature

Tide

turns for online MBAs Freda Wan There used to be two limitations â&#x20AC;&#x201C; the quality of networking experience and career advancement prospects â&#x20AC;&#x201C; that allegedly made online MBAs less ideal than traditional Today

programmes. Not anymore, though.

top business schools are taking advantage of online technolo-

gies to address the limitations. However,

a residential period

the main campus of these top-ranked business schools also to be essential to making

IIIustration: iStockphoto

online courses more effective.

appears

learning MBA programmes at Warwick Business School, said their distance learning students even enjoy an additional advantage – their peers generally have longer management experience. With an average age of 35 and an age range from late 20s to mid-50s,

students can

discuss management issues in considerable breadth and depth. “We learn as much from them as students learn from us,” Pye says. “There is always use-

“

We learn as much from them as students learn from us

“

Nigel Pye, assistant dean for executive and distance

ful, incredible data involved in [their dissertations]. Generally, they give excellent sources for case studies.” Warwick Business School offers one of the topranked MBA programmes delivered predominantly online. Although MBA programmes taught in brick-and-mortar business schools are still the norm, many professionals are now choosing to keep their careers going while advancing their education. As such MBAs delivered online have become viable – and increasingly, strong – alternatives. However, according to the 2014 rankings by the Financial Times, it is worth noting that most of the leading online MBAs

include face time at the

university. In fact, this is key to accelerating the networking culture in these online MBA programmes. The Madrid-based IE Business School’s

Glob-

al MBA programme offers a blended mode. Apart from online courses, residential periods are also held in Madrid, Shanghai, Singapore, Providence [in Rhode Island state in the US, Sao Paolo and Cape Town. Online MBA 2014

Feature

“Special attention is paid to ... developing soft skills – something fundamental to future leaders, facilitating interaction among students, faculty and alumni, and deepening understanding of how to run businesses in each country,” says Joël McConnell, director of international development, Asia-Pacific, at IE Business School. Pye credits the on-site element of the distance learning MBA as a valuable time for students to tap into networking resources. They have the chance to meet and mingle with the full-time MBAs and EMBAs. Apart from face time, online technologies are essential to a seamless student experience in attending lectures and discussions, and collaborating with classmates online. While IE uses Adobe Connect Pro and Blackboard as their “technological backbone”, as McConnell calls it, other universities prefer to retain full control of

their online learning platforms. Warwick Busi-

ness School has developed its own bespoke platform, known as my.wbs, as a hub for synchronous and asynchronous discussions, class collaboration and faculty-student interaction. It is also a combination of online technologies and face time on campus that allows online MBAs to provide better career services to students. In the first week in Madrid at IE’s Global MBA blended mode,

“

The on-site element of the distance learning MBA [is] a valuable time for students to tap into networking resources

“

Joël McConnel

Sean Ferguson

Nigel Pye

students meet their career advisor, who is their sin-

is highly brand-conscious and elitist. This is espe-

gle point of contact for career-related matters for

cially the case concerning MBAs.

the rest of the programme. Résumé and cover letter workshops, and personal branding sessions are also

On the one hand, the University of Hong Kong

provided that week.

(HKU), the Chinese University of Hong Kong (CUHK) and the Hong Kong University of Science

In the course of the year, students can contact their

and Technology (HKUST) have all embraced online

career advisor online for job hunting support, or

technologies to offer massive open online courses

contact the career management centre for indus-

(MOOCs).

try-specific questions. Five months before graduation, students are given access to a job bank, where

For instance, several HKUST courses in computer

6,000 opportunities from 3,500 companies are post-

science, business English and Chinese science and

ed per year. This service is available to them for life.

technology are available in Coursera and edX, two of the largest and most popular MOOC platforms.

The online MBA programmes of Warwick and IE

HKUST plans to offer more MOOCs in information

have been welcomed by students in Hong Kong,

systems and finance in the near future.

and increasingly, in the rest of Asia. Warwick’s distance learning MBA programme, which has been

“We are champions of leveraging technology,”

running for more than 30 years, has more than 500

says Sean Ferguson, associate dean, master’s pro-

alumni affiliated with Hong Kong. As for IE, 18 per

grammes, HKUST. “Online technology can be a tool

cent of its blended programme students in the 2013-

for us to potentially expand into other markets. We

14 academic year are recruited from Asia-Pacific.

understand that there are many busy people who

McConnell says that IE will double student numbers

may not be able to get to class.”

from Asia-Pacific in the 2014-15 academic year. However, Ferguson added that HKUST will not Hong Kong universities not yet offering online

consider offering an exclusively online MBA pro-

MBAs

gramme. It is more likely that the online lectures

Meanwhile, in Hong Kong local universities are

and curriculum developed for MOOCs can be used

still largely using the brick-and-mortar traditional

as a teaching aid for students in the traditional MBA

MBA model. The education market targeting Asia

programme, he says.

Online MBA 2014

Feature

What

rankings tell us Freda Wan Comparisons and rankings are

inevitable

competitive

the

marketplace

of MBA education. When it comes

to online MBAs â&#x20AC;&#x201C; a nascent industry â&#x20AC;&#x201C; a cursory look at some

commonly used rankings reveal two curious observations.

111

Number of online MBA programmes according to AACSB in 2013-2014 Firstly, the rankings are highly inconsistent. A highranked online MBA, according to one institution, may be relatively mediocre according to another. Secondly, the vast majority of top-ranked online MBA programmes are offered by business schools in Europe and North America. Not a single university in Asia features in these rankings. This is likely to be because very few universities in Asia offer online MBAs, and even fewer have a long enough track record to be evaluated. For the purposes of this article, we compared the top ten online MBA programmes in three sets of rankings, all published in 2014: •

The Financial Times Online MBA Ranking – this is the first annual ranking.

•

The U.S. News Best Online Graduate Business Programs – only US universities are ranked.

•

TopMBA.com by QS (Quacquarelli Symonds), the London-based education consultancy that produces the QS World University Rankings.

The inconsistent performance of some online MBA programmes from one set of rankings to another can be partially explained by the different methodologies utilised by the rankers. The Financial Times gives a much stronger weighting to salary three years after graduation, salary increase, and career progress, while QS bases 30 per cent of its ranking on employer reputation, based on surveys. Online MBA 2014

Feature

In contrast, U.S. News rankings emphasise student

“When it comes right down to it, the reputation

engagement (33 per cent) and admissions selectivity

of both online and traditional programmes comes

(20 per cent). In other words, the high-ranked online

down to satisfying class after class of students who

programmes manage to ensure quality interaction

go on to get great jobs,” Lavelle says.

among students, and between students and instructors. Also, online MBAs who are selective in its ad-

Online MBA programmes are now a fast-grow-

missions process receive a higher ranking.

ing industry, as advanced online technologies and high-quality massive open online courses (MOOCs)

Louis Lavelle, editor-in-chief of TopMBA.com, takes

challenge the traditional notion that online degrees

the pragmatic view that the most important factor

are less prestigious.

should be career prospects. This is true when evaluating any type of MBA programme.

Online MBA Ranking Table

Financial Times rank

U.S. News rank (includes only US universities)

QS rank

Tuition (local currency)

Average time to complete

IE Business School

Spain

N/A

€43,200

1.3 years

Warwick Business School

N/A

£22,500

3.5 years

Northeastern University:

$69,300

2 years

University of Florida: Hough

$50,600

2 years

Indiana University: Kelley

$62,900

2.5 years

Durham University Business

N/A

£19,000

3.5 years

Babson College: Olin

not ranked

$77,200

2 years

Thunderbird School of Global

$69,800

2 years

Syracuse University: Whitman

$70,800

3 years

Arizona State University:

$54,600

2 years

D’Amore-McKim

School

Management

Carey Note 1: Boston University was ranked in U.S. News but has been excluded in this list because the online degree is a Master of Science in International Marketing Management, not an MBA. Note 2: The tuition of online MBAs in the US are based on a calculation of cost per credit multiplied by the number of credits. There may be calculation discrepancies because the two pieces of information are collected from different online sources. Note 3: “Average time to complete” is based on either the rankings of the Financial Times, U.S. News, or the universities’ own websites.

“

We’re starting to see very well-known ‘brick and mortar’ schools … begin to offer online MBAs

“

“We’re starting to see very well-known ‘brick and

delivered online. They must have a selection pro-

mortar’ schools, particularly in the US, begin to of-

cess – if an online MBA programme were to accept

fer online MBAs,” Lavelle says. “For example, the

everyone who applied then it wouldn’t be eligible.

University of North Carolina’s Kenan-Flagler school

Also, the programme should have been running for

launched a high-quality [online MBA] programme a

at least four consecutive years.

few years ago.” In general, business schools with a stronger brand Statistics from the Association to Advance Colle-

name for their traditional MBA programmes will

giate Schools of Business (AACSB) also reflect the

have an easier time attracting prospective students

growing trend in online MBAs. AACSB is the largest

to their online MBA programmes and ensuring bet-

global network of business schools and is one of the

ter career prospects in the long run, Lavelle says.

three accreditations business schools can attain to attest their standard of education. In the 2013-2014

“History does matter,” he adds. “It’s very difficult

academic year, there were 111 online MBA pro-

to develop a strong reputation for online educa-

grammes, according to the AACSB website search

tion if you’re limited to online programmes. It’s

engine. This is out of over 700 AACSB accredited

much easier to establish your reputation with tra-

business schools.

ditional programmes and transfer that reputation to new online offerings, which is exactly what

It is a significant fact that the FT rankings were new-

Kenan-Flagler did.”

ly launched this year. Only 17 schools participated in the evaluation process and 15 of them appeared in the rankings. The eligibility criteria is telling. Online MBAs must have at least 70 per cent of content

Online MBA 2014

Expert

Choosing your best online MBA

Donna Lin Niles If you’re reading this, you’re

probably considering pursuing

an MBA, and you’re specifically interested in learning more about online MBA degrees.

Photo: iStockphoto

Perhaps earning a graduate degree is the next step

doesn’t come as a surprise that online degrees from

in your career or a launchpad to take your career to

well-known universities in the United States typical-

the next level. Or maybe your ambitions are sim-

ly rise to the top of recruiters’ lists.

pler; you may just enjoy learning and exploration and want to expand your personal and professional

One last interesting, and unexpected, measure of

horizons. No matter what your short- or long-term

an online MBA programme’s success or reliability is

goals may be, choosing your online MBA pro-

the individual school’s loan default rate. Now, you

gramme is equally as important as choosing a full-

might not be thinking of making inquiries regarding

or part-time programme at a traditional university.

whether graduates are paying off their student loans,

The investment, both in time and money, can have

but consider the idea that alumni like you are con-

a long-lasting impact on your life. There are sever-

tinuing on in the workforce with the hopes of ad-

al criteria to consider that might help ensure you’re

vancing or changing careers. If they are successful in

choosing the right programme.

that venture, they will likely have the income available to make monthly payments on their student loan

Most importantly, look for online MBA degrees that

rates. If there’s a high default rate, that might mean

are offered by accredited programmes. After spend-

that the cost of attending the programme outweighs

ing thousands of dollars and several years of your

the types of jobs that graduates are able to land after

time, you want to be sure that your degree is recog-

graduation. You can inquire with the Department of

nised by employers and by the market. You certainly

Education to learn about individual programmes.

don’t want to devote your time to earning a master’s

Although this tactic might take a little additional

degree that isn’t respected – that wouldn’t help you

work, it’s definitely well worth it.

to advance your career in any way. Experts widely agree that there are two accreditations that you

As if taking the GMAT, applying to your school of

should look for before you even apply: the Accred-

choice, and embarking on the life of an MBA stu-

itation Council for Business Schools and Programs

dent aren’t enough work, there’s certainly an art

(ACBSP) and the Association to Advance Collegiate

to identifying the best online MBA programmes.

Schools of Business (AACSB). There are also region-

Choosing wisely definitely matters as the decision

al accreditation programmes that will be available

can have a huge impact on your career in both the

on a programme’s website.

short and long term. If you spend a little time doing your research, you can be sure you’re making

Next, find out how recruiters and potential employ-

the right choice selecting the best online MBA pro-

ers rank the online MBA programmes you’re explor-

gramme for you.

ing. While employers have typically held back from endorsing online MBA programmes, it probably Online MBA 2014

Expert

With a distance MBA, students learn through video lectures which they watch at their convenience.

Distance

There are a few scheduled campus visits to allow students to meet face-to-face with one another and

MBAs & the unique opportunities they provide

their professors. Students collaborate on projects and hand in assignments just as they would if they were working on campus. They are appraised and tutored just the same as if they were sitting in their lecturerâ&#x20AC;&#x2122;s book-strewn office.

Cayleigh-May Forbes In spite of crippling course

fees, the upheaval of moving within

spitting

distance

the campus library, and taking a semi-hiatus from paid work,

people flock in droves towards business world.

schools

around

the

Convenience is not the only benefit. There are certain skills uniquely fostered by distance learning.

Ever tried to host a Google Hangout or follow a

By working part-time and staying in your hometown,

Webinar? They can be tricky programmes to master.

it’s easier to manage time-work-study commitments.

You can bet that whatever job you get upon gradu-

Distance MBA courses offer a flexible schedule that

ation, sophistication in managing video conferenc-

fits nicely with work and family or social life. Dis-

es and remote teams will impress your employers.

tance MBAs can work part-time, alleviating any fi-

It’s the thing everyone pretends to know how to do,

nancial burdens that may have been incurred with

but those who’ve collaborated with teams gathered

a more traditional business school programme. Dis-

from the four corners of the earth will have it down

tance MBA students can also apply their learning to

pat.

their current jobs and use this experience to gain practical experience. Business school is all about learning people management techniques, business strategy, and ultimately, about showing your mettle. One of the curiosities of business school students is that they keep to the shoal upon graduation, going into the same industries as their classmates. By swimming apart from the school, MBA students who utilise distance learning get all of the benefits without the risk to their personal identity as individuals – and leaders – of the future.

Photo: iStockphoto

Online MBA 2014

(Advertorial)

Through a UK MBA taken in HK, RDI gives students a competitive edge

Earning an MBA abroad means upending one’s life and uprooting oneself. For those with thriving careers or a family to care for at home, this may not be an option. In Hong Kong, an international city where competition for top jobs is fierce and opportunities often require stellar credentials, standing out means going the extra mile in terms of education and skill. The good news is Hong Kongers with the drive and ambition to succeed but not the time nor the means to pursue an MBA overseas can earn their degree right where they are. This is where RDI Limited comes in. It is a fully-owned subsidiary of RDI UK, a global leading provider of UK university distance learning qualifications. RDI’s 24 years in Hong Kong places it at the forefront of the distance learning industry in the SAR. This experience and deep immersion allows RDI to adeptly determine and provide for the needs of individuals who want to improve their competitiveness and realise their career ambitions. RDI’s decades-long operation in the SAR has helped 50,000 students through online, part-time and full-time study programmes providing platforms with which they can contact top-notch tutors who are capable and ready to assist them from RDI’s offices in Central, Hong Kong. Combine institutional support in Hong Kong with partnerships with the best UK universities and you have one of the most comprehensive distance learning modalities in the

region. Among RDI’s partners are Anglia Ruskin University, Bradford University, Henley University and the University of Sunderland, all giving students a competitive edge without the exorbitant costs of on-campus studies. RDI’s learning programmes are suited for prospective students’ specific needs and take into account the following: • Career specialisation • Stage in career • Entry requirements of the course • Affordability • Work schedule RDI offers different course options for individuals, giving high priority to each student’s unique circumstances. There are support mechanisms for those specialising in specific areas; and ones who are starting out, in mid-career or with senior positions. And in order to make learning financially viable potential students can earn their MBA while managing their finances through RDI’s different payment options. Robust support platform for flexible schedule RDI has developed a support structure that allows students access to all the information they need in order to complete their degrees at their own pace. One of the most innovative modes of obtaining information is RDI’s iLearn, where students can easily download relevant textbooks, instructional videos, study notes and other materials while

(Advertorial) carrying on discussions with other students and tutors. By accessing learning tools through iPads, iPhones and other devices, students are not tied to a classroom setting or weekly schedule, giving them more freedom and mobility. This unique instructional model is ideal for those who need to easily manage their study times to make way for an intense work schedule, business trips or family duties. RDI’s emphasis is on practical knowledge and the understanding of business theory, and achieves this through video clips, podcasts and live online tutorials that students can get anytime, anywhere. In addition to highly efficient and effective technological support, RDI also provides personalised onsite services in its Hong Kong offices. There are workshops that focus on improving students’ existing skill sets, as well as career preparation programmes to better equip students in handling work and study challenges. Those who are slowly getting back into study mode after taking a break can find effective learning services that will help them regain self-discipline and ease them back into the routine of regular study. Important skills in graduate studies such as essay writing and critical analysis are included, and, if needed, one-on-one consultations with a nominated adviser can be arranged. RDI’s assistance does not stop at obtaining an MBA. It helps prepare students for entry into the job market through its in-house career consultants who can give much-needed career- and job-related advice both online and offline.

Daniel Chun, University of Sunderland MBA graduate

Expert mentors RDI’s high standards apply to its mentors, all of whom have held management positions in multinational companies and have over 10 years of teaching experience. Their training and expertise combined with practical knowledge of the competitive working world allows them to advise students during various levels of study. This can be extremely valuable during the dissertation writing process, where supervision by a skilled adviser is crucial. All classes and tutorials are in English in accordance with the international nature of the working world where English is the main medium of communication. Those who wish to improve their English language skills, both written and spoken, can avail of additional workshops or seek the support of a tutor. Partnerships with only the best UK universities

Lily Tan, University of Sunderland MBA graduate

RDI’s commitment to excellence is evident in its choice of partner universities. Students in Hong Kong can obtain a UK university qualification that is recognised worldwide. RDI’s Hong Kong office, by virtue of being a UK university partner, participates in these institutions’ assessments by the UK Quality Assurance Agency. In the SAR, both RDI and partner universities are participants in the annual assessment conducted by the Hong Kong Council for Accreditation of Academic and Vocational Qualifications.. The following are some of the esteemed universities that RDI has as partners.

(Advertorial)

University of Sunderland University of Sunderland Located at the heart of one of the UK’s most up-and-coming cities, the University of Sunderland’s innovative learning methods have earned it strong connections to the global business community and allowed it to work closely with some of the leading companies in the world. The globally recognised Sunderland Faculty of Business and Law has student representation from over 70 countries spanning four continents. The Sunderland Business School, meanwhile, has built a reputation for establishing programmes that have got its finger on the pulse of business and management theory and practice. This ensures graduates are prepared for and geared towards high-level job opportunities or building their own enterprises. The part-time full and top-up MBA programmes offered at the University of Sunderland will benefit potential students with significant management experience who aspire to move up to senior management positions in commercial and service organisations. Tutorials for part-time study are held in the evening and weekends, as well as online in order to fit students’ schedules. There is also a two-state MBA pathway for those who still do not have a bachelor’s degree or relevant qualifications. The result: over 91 percent of Sunderland’s Business and Law faculty graduates get hired or go on to further study within six months. ‘Getting an MBA was one of my goals in life, and I was able to complete a UK MBA at RDI Hong Kong within two years even though I didn’t have a bachelor degree. The lecture schedule was flexible and there was support there to help me manage my studies to fit around my work and family responsibilities’ says Lily Tan, a graduate working mother who obtained a Merit in her MBA. “This Sunderland MBA is very different from other MBA courses which are based mostly on coursework,” says Daniel Chun, one of the successful MBA graduates of the University of Sunderland. “In the final dissertation, it allows me to identify real-life business problems, finding a way to solve it and receiving help when I am stuck. It is almost like hiring management consultants to help me solve my business problems.”

Anglia Ruskin University Established in 1858, Anglia Ruskin University is one of the biggest universities in the east of England, with campuses in Cambridge, Chelmsford and Peterborough. As proof of its growing prestige, the university was named one of the top 70 UK Universities in 2014 by UK newspaper The Guardian, up 24 places from 2012. The university’s Lord Ashcroft Business School has forged robust partnership agreements with businesses around the world as a result of its focus on grounded and effective business and management programmes. Anglia Ruskin University offers multiple MBA pathways, and, through RDI in Hong Kong, an online learning platform.

“

RDI is the University’s leading online distance learning partner who have 24 years of experience supporting thousands of students to succeed in their studies and achieve their UK university qualification flexibly,

”

Jon Bouffler, director of the university’s Learning Development Services Among the online programmes on offer are a full MBA and those in Project Management, Management Consultancy, Service Management, and Law. Also offered are Masters of Science in Strategic Engineering Management and Strategic Project Management, as well as a Master of Arts in Strategic Human Resource Management. Graduates from Anglia Ruskin University are in great demand, with four out of five going into professional or managerial positions upon completion. The number of students starting their own businesses is also increasing year on year. University graduates from Anglia Ruskin also have the highest employability rate in the education sector, with 91 percent finding employment or continuing their education.

Anglia Ruskin University

(Advertorial)

Henley Business School Henley Business School The Henley Business School belongs to an elite group of schools that have triple-accredited status from UK, European and US accreditation bodies, namely the Association of MBAs (AMBA), EFMD Quality Improvement System (EQUIS), and Association to Advance Collegiate Schools of Business (AACSB). Henley Business School is in the top 1% of business school’s worldwide having had a presence in Hong Kong for almost 30 years, delivering MBAs since the late 1980s. According to the Financial Times Executive MBA ranking 2014, the Henley Executive MBA is among the world’s best – ranking 2nd in the UK ,8th in Europe, and 34th in the world. Executive MBA at Henley Business School is for experienced managers looking to take their career to the next level. Online courses are designed to accommodate the busy business leader’s schedule.

University of Bradford Also a holder of the “triple crown” of accreditations, the University of Bradford is known as one of the world’s most esteemed business schools. Since 1998, the Bradford University School of Management has provided MBA programmes via distance learning, giving students worldwide the opportunity to earn a world-class degree from anywhere. The basic MBA has 14 core modules and includes dissertation work. For Hong Kong-based students, the programme is generally completed within 21 months as an online learning course. Bradford MBA Graduate Iris Cheung says one of the best things about her degree is the preparation it gave her for future management positions. “This is a good opportunity for preparing the management skills for my further career development such as the area of sales and marketing analysis and strategic management,” she says. “The MBA has proven to be very useful for improving the decision making process within my own business sector.” The Bradford MBA is usually a 24-month endeavor, but, taking into consideration the schedule of business executives who will be taking it, this may be extended up to a maximum of six years. On average, it takes three years for students to complete the programme. University of Bradford

The programme takes 24 months of studying part-time and is delivered through self-study, online interaction and nine weekend workshops, one of which is in the UK. Tuition includes return flight and accommodation to the UK. The programme boasts of 56,000 global alumni, giving graduates a wide network of instant contacts in senior management positions across 150 countries. Among the alumni is Daniel Au, vice president, country AML officer of Deutsche Bank in Hong Kong who says: “The Henley MBA programme has provided me with a holistic approach to critically analyse global and local business issues from all angles. The well-structured study programme, superb teaching quality from world-class academics, dedicated support from the local MBA office, and the diversity of international and local students all add to this fabulous learning experience and the programme’s success. I wholeheartedly recommend the Henley MBA experience!”

If you would like more information on these programmes, please contact us on: Phone: +852 2992 0133 Email: info@rdihongkong.com Click Here: www.rdihongkong.com

9/F, South China Building, 1-3 Wyndham Street, Central, Hong Kong

Expert

Photo: iStockphoto

MOOCs:

a better bet for business education? Laurie Pickard For years, every time I found

myself in a period of transi-

I found out about massive open online courses

tion I thought about enrolling

(MOOCs) in 2012, when free courses from prestig-

in my twenties and trying to fig-

2012 was what The New York Times called “the year

in business school. When I was ure out my career path, those transition moments came up fairly often. But every time I did

the maths – two years out of the workforce,

foregone

earnings,

cost of living expenses, and the price of the MBA itself – the numbers never seemed to add up. Then I discovered MOOCs.

ious universities were still relatively new. Fittingly, of the MOOC,” due to the explosion in popularity of these free courses. The first movers – Coursera, edX, Udacity – have now been joined by many other MOOC providers, some offering all content free of charge and others charging a fee for some or all of their courses. It wasn’t until a year after I first heard about free online courses that I started my own MOOC adventure. As I approached another transition moment – this time I was getting married and moving across the world with my new husband – I thought again about getting a business education. Only this time, I wondered if it would be possible to use MOOCs to get the skills and knowledge I wanted.

I scoured the web for anyone who might be writing

ying. In addition to being nominally free, MOOCs

about getting a free MOOC-based MBA. Although

come at almost zero opportunity cost since you

I found several articles suggesting that such a thing

don’t have to stop working to take them. Plus, if

was now possible given the wide variety of MOOC

you are already working in a field related to the one

offerings, I didn’t find anyone blogging about their

you’d like to be in, you likely have a valuable pro-

own experience fashioning a complete business

fessional network that is growing all the time. That

curriculum from free courses. The No-Pay MBA was

network, specific to your field, may be just as val-

born when I decided that in addition to taking an

uable as the business school network. While you’re

MBA’s worth of free courses, I wanted to document

busy acquiring new skills through MOOCs, you can

my journey – both as a way of showcasing what I’d

also use your network to start exploring new oppor-

learned and as a resource for others.

tunities without ever leaving the workforce.

Who should do a MOOC-based MBA equivalent?

Entrepreneurs – Finally, anyone who is thinking

The most frequent question I get asked about my

about going into business for themselves should be

project is something along the lines of, “Yeah, I’m

wary of taking on a pile of student debt. With the

sure you’re learning a lot, but what about the degree

course offerings currently available, a budding en-

itself?” It’s true I won’t be getting a degree at the

trepreneur can find everything he or she needs to

end of my self-designed education. No accredited

create a start-up plan and get going. Especially for

business schools are currently offering credit for

entrepreneurs, no classroom education can match

MOOCs. What I will be getting is all the content

the real-world experience of actually running a

– the knowledge and the skills – that one would ac-

business. An MBA may end up being little more

quire in a traditional MBA programme.

than an expensive detour.

I’m not arguing that this is the right choice for every-

The future of business education

one, especially those who plan to go into a field

If you choose to go the MOOC route to getting your

where the degree itself is a requirement. But for

business education, you will be among the first. But

some people, a free MOOC-based MBA may be just

I am convinced that in the future, more and more

the ticket.

people will be turning to MOOCs to achieve their educational goals. Regular MBA programmes may

Career enhancers – For people who are already a

still make financial sense for some people, but this

few years into a field they would like to stay in, free

new model of education has the potential to be very

courses can be an excellent way to strengthen a ca-

disruptive, particularly in the executive education

reer. As you acquire new skills through your studies,

market. As MOOC providers become increasingly

you can put those skills into practice almost imme-

sophisticated at verifying student learning, and as

diately at work. Over time, you can take on more

employers come to recognise the value of online ed-

responsibility to match your increased capacity.

ucation, the MBA degree itself will likely no longer be seen as the single, all-encompassing credential

Career shifters – For those who are in a field close

necessary for success in business.

to the one they would ultimately like to end up in, it may make sense to continue working while studOnline MBA 2014

Interview

A Warwick graduate shares how she fit an MBA into her busy life Freda Wan Kathlyn Lee, head of department in a

leading bank in Hong Kong, graduated from the Warwick Business School Distance

Learning

MBA

Programme

2012. While pursuing her MBA, she also

juggled both a demanding career and

motherhood. She credits the effective web-based learning platform, and the

face-to-face lectures in Warwick and

in other locations, for ensuring that she got full value from her education.

Do you find that your employer, supervisor and cli-

rospect, had I not chosen a DL programme over the

ents recognise an online MBA in the same way as

conventional classroom-based MBA course, I most

the traditional one?

probably would not have been able to accomplish

The Warwick Distance Learning (DL) MBA was

the MBA.

well-recognised by my bosses and my employer which is one of the leading banks in Hong Kong.

What is the most important, most memorable ex-

They were not only amazed at my personal and

perience of Warwick?

self-motivated initiative to pursue a master’s degree

I enjoyed the uniqueness of the programme. It is

programme, they also supported me through the

well-structured, with a realistic timeline of finishing

bank’s internal sponsorship programme.

it in between two and three years at your own pace. It was an eye-opening experience for me that the

The advantage of the DL programme is that you can

university used the latest technology in web-based

really [schedule] around your work schedule with-

communication platforms, called ”my.wbs”, which

out leaving work earlier to attend lectures or worry

is like a virtual university. As for lectures, there are

that you’ll be late for [classes] because of work.

webinars, with students from all over the world attending the same class, you can view and listen to

How did your career path change after you attend-

the lecturer and the lecture materials and hear other

ed Warwick? Did you get a promotion, change

students raising questions. Even for the final disser-

jobs, or launch a new career?

tation, all the discussions I had with my subject su-

Regarding my career development, I’m not sure if

pervisor were through Skype. I couldn’t believe that

anyone will get a promotion just because of a higher

it worked out so well.

academic achievement. In today’s workplace, competency commands a significant proportion of per-

The programme also requires face-to-face lectures

formance appraisal. I would say that the Warwick

back at the WBS campus in Britain or outside the

DL MBA has contributed to my new perspective on

campus. One professor flew all the way from Britain

management thinking, which helped me a lot when

to Hong Kong to deliver a course. I was able to meet

I later took up a new role as a department head.

up with students who had travelled to Hong Kong from other countries such as Singapore, Canada,

Why did you choose an online MBA in the first

Germany and Britain, just to attend the course.

place? And what made the Warwick programme so appealing to you?

What was the greatest challenge?

I chose the Warwick DL MBA programme because

Self-discipline is the major challenge in DL. As one

of its flexibility. Having a full-time job, as well as

Warwick lecturer put it: “Of all the modes of stud-

being a mum, I have to use my time efficiently.

ying a MBA in Warwick Business School, distance

During the two-and-a-half years when I was on the

learning is the hardest, compared to full-time or

course, I could manage work, help my daughter for

part-time, due to the high demands of self-disci-

school, work and study, all at the same time. In ret-

pline.” I agree totally with what he says. Online MBA 2014

Interview

A perspective from a current student in a topranked online MBA Freda Wan Wanda Yuen, current student in a Global MBA, IE Business School

Why did you choose an online MBA, as opposed to

edited a Google word document at the same time.

the traditional bricks-and-mortar one?

Teachers hold polls and provide videos during class-

Because I want to keep working, but at the same

es, which I find helps with the learning. The teach-

time I want to do a MBA. Online gives me flexibility

ers’ passion also impresses me, too. They are very

and saves me travelling time to campus. Plus, I see

responsive and have replied in detail to me when I

that IE [Business School] has both a good reputation

raised questions.

and a good mix of people of different nationalities. If there were no online MBA course with a good

I see plenty of interaction and networking with my

reputation, I don’t think I would go for one.

classmates, especially those in my group. We have group work sessions every week, so there is a great

Do your employer or clients recognise the value of

deal of communication, and WhatsApp helps a lot.

an online MBA programme?

There is a forum session each week where my class-

I think they are happy to see they can still maintain

mates share their work experience and teachers ex-

their workforce while their employees are adding

plain things in detail. Before the course we were

value to themselves!

told that online MBA classmates were found to be closer than those in traditional classes. Now I am

What is your most valuable or memorable experi-

starting to see why. When we travel we try to meet

ence in your online MBA so far? Do you feel that

up with our classmates.

there is enough interaction and networking with other students?

What is the biggest challenge for you in pursuing

I enjoy the chance to meet and work with people

an online MBA?

of different nationalities, industries or backgrounds.

Time management! My online MBA basically takes

My most memorable experiences include confer-

up a lot of my spare time outside [of] work. I can tell

encing with classmates at weird times since we are

you now that if you don’t have high proficiency in

all from different time zones, and we all work hard

English you will play a hard catch-up game, as there

to contribute to the group work sessions we hold.

are many readings and a lot of writing.

I especially relish the time we all got online and

Online MBA 2014

In the news

Earning an MBA online is a great choice for many students, however, this increasing popularity is also encouraging the growth of internet scams used to take studentsâ&#x20AC;&#x2122; money. It is unfortunate that academic fraud exists, but fortunately there are telltale traps that can be used to alert prospective students. If a student spots any of these online MBA traps to avoid, the programme should be immediately disregarded and you should look elsewhere for your online degree.

Online

MBA traps to avoid

The easiest way to entice victims and also the easiest warning sign to spot is an online MBA programme that touts itself as being cheap. An online MBA degree often costs a bit less than a traditional school, but a quality education, even online, should still

Randee Stever Several students have opted to

earn their MBA online and for good reason. Online degrees are as

valuable

ones

obtained

costs a substantial sum of money. Do not be fooled by a low price tag. A truly accredited online degree programme will have similar tuition and material costs, so students should not look into online MBA programmes with the expectations of saving large amounts of money.

through traditional means if the

Another popular way to entice victims of academic

accredited school with a solid

easily and does not require much effort. Students

online courses come from a good,

fraud is to promise an MBA degree that is earned

programme offering.

must never choose an online MBA programme because it is being sold with an easy curriculum or no curriculum at all. These types of online degree programmes are not accredited and have a strong likelihood of being a scam. Students who are serious about earning an MBA need to search for online programmes that promise comprehensive curriculums to get the most out of the programme. Lastly, another online MBA trap to avoid is a programme that promises an MBA degree in a very

short amount of time. Online MBA programmes

If the price, ease, and time of an MBA degree pro-

will require a typical two year study period, which

gramme seems too good to be true, it probably is.

is about as long in total credit hours as one on cam-

There are many MBA degree programmes out there

pus is. Several fraudulent websites lure students in

offering what, in effect, are worthless degrees. On-

by promising an MBA will be earned in a matter

line MBA traps are meant to be enticing, but in the

of months, but this is simply not the case. Online

end, they are still traps. Students who fall for them

students in standard online MBA programmes are

are cheating themselves out of the business edu-

responsible for the standard components and work-

cation, skills, and knowledge that will be needed

loads as their campus attending counterparts. Stu-

for professional success. Be on the lookout for the

dents need to keep in mind that there is rarely a

above mentioned online MBA scams to ensure that

shortcut to success.

an online MBA programme is legitimate before you

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Online MBA 2014