Executive MBA Blog

Executive MBA Program visits with a 2010 nominated CNN Hero

It wasn’t a normal international experience for the Executive MBA Program at The College of William & Mary as plans were finalized to take twenty nine students to Southeast Asia in May.  While the trip originally included a stop in Bangkok, the political climate suggested otherwise.  And, less than three weeks before the group’s departure, we decided to divert to Singapore and then onto Cambodia and our final destination, Vietnam.  “It was a real life exercise in risk management,” said Brian Winterstein, MBA’10.

Executive MBA students in Professors Aggarwal and Rahtz global strategy management class spent ten days in Southeast Asia during which they experienced firsthand the demands and opportunities in today’s global economy.  The trip’s agenda included visits to a retailer, the port in Singapore (PSA), the stock exchange and a manufacturing facility in Ho Chi Minh City.

Of special note, was our visit to the Wat Bo primary school in Cambodia and, upon our arrival,  we were escorted into a meeting room by a student musical group to meet the principal and other officials associated with the school.  “It was clear, this is a special place. I was lucky enough to be able to present a donation to the principal on behalf of some of the employees from my former organization, Naviance,” said Greg Smith, MBA’10.  

This school is supported by the Ponheary Ly Foundation, a registered non-profit organization in the US, and it was no surprise when we learned that Ponheary Ly, former teacher and founder, had been nominated for the CNN Heroes of the Year award for 2010.  A CNN news team arrived in Cambodia just two weeks after our visit to the Wat Bo primary school to capture the story of her and the work the foundation is doing to educate the children of Cambodia.  Truly a memorable, albeit extremely hot, experience!

Another class favorite was visiting Tang’s, a prominent leader in Singapore’s retail scene, courtesy of Professor Ring.   Marketing from strategy to implementation. This is what it it’s all about. Real world experiences taught by world class professors.

Worldwide connections with universities around the globe enable the Executive MBA Program at William & Mary to set up seminars and business contacts covering topics such as cultural differences, financing, and trade opportunities.  This international trip experience augments the global perspectives explored in the classroom and exposes students to unique cultures.

“We sat there talking about creating an import/export business while enjoying a late night dessert. It was not hypothetical or academic, but an earnest discussion of how to apply our experiences and contacts to make it a reality. That’s the beauty of this program. We are able to combine a lifetime of experience with fresh perspectives gained through education,” said Joe Hertzler (MBA’10).

This article was contributed by Susan Hughes, Director, Executive MBA Program, Mason School of Business, College of William & Mary. Contact: susan.hughes@mason.wm.edu

 

Women – Are EMBAs For You?

It’s one of the hottest educational options today, and if you’re an EMBA student, you’re more often than not dead serious about your business, either the one you own or the one you work for in a professional capacity. An Executive MBA is a step-ladder that helps you climb up in the world of business; it gives you an edge when it comes to making informed and educated decisions; and it broadens your horizons and adds to your work experience in more ways than one.

And this begs the question – why is such a valuable degree shunned by most women? According to recent statistics, only 20 percent of the nation’s EMBA students are women; the low number is an anomaly to the rest of the education spectrum where women are able to hold their own and even beat the male of the species in equal or higher numbers. Perhaps the reasons for this avoidance are:

· EMBA classes are held mostly over the weekend to accommodate most of the class who lead busy work lives throughout the week and so, are unable to spare time to attend lectures and discussions. This means that women who enroll must compromise on their family time in order to attend class. If you have kids at home who look forward to spending time with you and who seek your attention on the weekends, you’re probably going to wish your degree fast forwarded to its natural conclusion.

· The high and sometimes prohibitive cost of EMBA programs – if your employer is not too keen on shelling out money towards your degree, you may not be willing to secure a loan or spend your own money to earn an EMBA. You cannot justify the cost as an investment when the money could have been spent on countless other things. Besides, some employers may be prejudiced against spending money on women to take up EMBA programs.

But in spite of these hurdles, if you’re a woman, here’s why you must pursue an EMBA if you’re serious about your career:

· In today’s touch economy, it’s the values that matter – relationships and people - that are taking importance; women are becoming more valuable to corporations because they are perceived as more emotional and so, more human. They’re able to make a difference because of their softer approach to business interactions rather than the hard-boiled attitude that men tend to adopt. So if you’re really interested in an EMBA, your employer would most probably be willing to sponsor it for you.

· You’re bound to be up for a promotion and/or a salary increase if you add an EMBA to your arsenal of business tools.

· Many schools that offer EMBA programs now feature attractive scholarships for deserving women. So if you’re really passionate about the degree but are worried about the cost, look around for scholarships that could help you get ahead.

Remember, it’s now or never when it comes to getting ahead in your career. So while you may have to juggle work, family and an education for a few months, at the end of it all, you find that it’s worth every inch of the struggle.  

This guest post is contributed by Anna Miller, who writes on the topic of degrees online . She welcomes your comments at her email id: anna.miller009@gmail.com

Executive MBA Graduate Survey Results 2010

How are they doing and was the MBA investment worthwhile?  By EMBA World

 

(May 2010) An individual must weigh the cost and job prospects of an MBA today with income possibilities and employment opportunities of tomorrow.  Articles written about the value of the MBA are always met with skepticism and more so these days than ever before. EMBA World, a New York City-based organization, has explore the value question of the EMBA. The survey used is the first of its kind with a focus on graduates of the Executive MBA. Now looking back five or more years on their career since graduation, what are EMBA graduates saying today about the education, economy, and overall outlook?  Are they satisfied, skeptical, or neutral on current employment conditions? And are they better prepared or worse off on their decision to pursue the degree?

 

In past recessions enrollment in graduate business education rose. Not the case in the current climate. From 2008 to 2010, there is a decline in test preparation, according to Kaplan Educational Testing, a decline in overall GMAT test administration, according to GMAC, a drop in business school applications according to a random selection of New York City business schools, and a double digit drop in attendance to MBA fairs last fall and spring 2009, according to QS Network, organizers of the TopMBA Fairs worldwide.

 

The high cost of the education and generally poor employment conditions are two primary reasons for the drop in enrollment. When times are tough employers and employees are both reluctant to make dramatic changes to their job habits and job expectations. Succinctly stated, “Asking for time off or financial assistance in this climate is asking a lot from your boss,” explains Samantha Carrol, a private employment counselor in New York City.

 

The cost of a graduate business degree can reach over $100,000 and the average is approximately $60,000 nationwide. The cost of a traditional MBA versus an Executive MBA are not too far off, both are expensive. Add on travel expenses, residential, and other incidentals commonly associated with an EMBA and the cost can be much higher. Factor in costs for GMAT test preparation, testing fees, and business school application fees and the cost continue climbing.

 

Purely as an academic exercise EMBA World issued a simple thirteen question survey to graduates asking about their EMBA experience. The survey was made available on the EMBA World website, promoted through Twitter and Facebook, linked with EMBA alumni groups across the United States, and through email blasts to the EMBA World graduate business database.

 

Here is a profile of the respondents.

 

• Average years out of school: 9.5 years working since graduating
• Range of years out of school: 3 to 23 years working since graduating
• Job titles: Manager to CEO
• Industries: Technology, Pharmaceutical, Marketing, Banking, Media, Non Profit, Other
• Average salary of study group at entry of business school: $92,000
• Average salary of study group today: $213,000

 

 

Salary averages over the ten year period is the most dramatic of this part of the survey. The number of work years since graduating was 9.5 years, almost a decade and yet in this time the salary has grown from a base of $92,000 to $213,000 or an increase of 131%. The survey strongly suggests positive returns from the investment over a ten year period. Of course the salaries are influence per person, per industry, and per time period. No matter how good you are, the starting salary during the 2001 recession is less than if you graduated even a year or two later.

 

Survey Results Continuation

• Still with same employer:  40% of respondents are still with same employer
• Worth the investment: 91% reported yes
• Recommend the education: 99% reported yes
• More or less optimistic of the future: 60% more optimistic; 25% much more optimistic; 15% no difference

 

Another consideration of the EMBA from an employer standpoint is employee loyalty. It seems that with 40% of respondents still with the same employer from when they entered the MBA suggests the following: job growth and job satisfaction is possible in the near future after graduation; a moral devotion to stick with the same employer is possibly influenced during those hectic times where the employer accommodated the needs of their employee-students, and the education was respected valued. Are EMBA graduates more loyal than traditional MBA graduates? This is difficult to measure given that many traditional MBA students start school immediately after undergraduate or drop out of the workforce to accommodate the degree.

 

Opened Ended Questions

• What were the highlights of the experience?
• What would you do differently with an MBA?
• How as the recent economy affected you?

 

Classmates, class projects, and certain professors stood out the highest and loudest for many respondents as highlights of the experience. “Great classmates and great professors,” were typical responses. “Classmates, networking, class bonding through major projects,” further describes the zeal and general passion of EMBA graduates.

 

In terms of doing anything differently, for those who responded the answer was much the same as they are doing today. In other words, they appear to feel confident in their career path and would not change their working condition. They responses were generally of satisfaction of their career direction.

 

For the question regarding the recent economic crisis, 7% were unemployed or in a job transition while the remaining were fully employed and reported no or little impact at all. Responses ranged from “having it only helps” to “no real job flexibility, job market stagnant.” Others stated that projects have been delayed and some reported “better job than before.” Clearly this section had the broadest range of responses from hot to cold and everything in between.

 

Even with an MBA people are not immune the realities of the workplace and global economy. The open-ended results did allow people to express themselves including some that described the current economic conditions as stifling for job options and job growth. The economy has prevented people from achieving what they desire and these conditions are beyond the scope of any education to fix. 

 

EMBA World is a New York City-based organization dedicated to helping employees and employers understand options regarding graduate level business education and in particular the Executive MBA. Jason A. Price, MS, MBA, is Director of EMBA World and author of The Executive MBA: An Insider’s Guide for Working Professionals in Pursuit of Graduate Business Education. Jason is a frequent speaker to media on graduate business education issues and publishes industry articles periodically on the subject. The Insider’s Guide can be found at online bookstores or at EMBA World www.EmbaWorld.com. You can reach Jason A. Price at Jason@embaworld.com.

 

Who is the Boss of the MBA in 2010?

Entrepreneurs, home-preneurs, and eco-preneurs are leading the way

(November 2009) President Obama describes recent signs of economic recovery as "Guarded Optimism" but for many unemployed people with MBAs these are just hopeful words. Business school enrollment has not seen a considerable jump as in past recessions and participants at MBA fairs are down, including the major TopMBA Tour this past September in New York City, a 15% decline in prospects than in years past. On a positive note, while job offers these days come slowly fewer are being delayed or rescinded, as was typical in 2008. Will the job market continue to thaw for MBAs in 2010?

Professor Robert Salomon of NYU blogged that due to timing, the 2008 graduates fared far better than if they had graduated after the Lehman and Bear Stearns debacles. He feared for the worse for 2009 graduates and Business Week devoted an entire article on graduating into a recession.

I believe, 2009 will be known as the year in "stablize- ation." Indeed, The Federal Reserves most recent economic survey published in October reports that most states see stabilization in housing and jobs but most report a hold on hiring’s until the new year. The unemployed MBA has few options. So who is outsmarting the economy? Where are most innovators coming from? Many are armed with an MBA, some even have years of experience under their belt. Let's take a look at a few.

It'll take small businesses to jump start new job growth and many entrepreneurs, home-preneurs, and eco-preneurs are leading the way. Growth industries like green and medical are some leading examples where individuals have reinvented themselves. Take Columbia MBA Melissa Stevens and her innovative pizza box design that cuts down on cardboard and paper consumption. How about Mark Cantor, MBA, and former VP of Lehman Brothers who saw his retirement crumble and now supplies cheesecakes to over 40 restaurants in the Big Apple. Alissa Topel, an executive placement specialist says, "Many MBA graduates hold on to the dream job that was expected in a normal world. Those days are over, for now, and use the time and opportunities elsewhere to redefine your career and what it means to have an MBA."

Such stories are common these days. Social capital is critical during these rough times and may be the only capital available for entrepreneurs. Hard times remain for small businesses relying on starter loans, particularly from private banks. But the dream can be real. Certainly main street is lined with family founded businesses. While many successful entrepreneurs have no degree or even an MBA, having the coveted degree enables you to take a company beyond just start up mode but to actual growth.

Jason Price is Director and Founder of EMBA World in New York City. EMBA World is an organization dedicated to helping people understand thier business school options and the role of the executive MBA.

The News-Star: College of Business sets initiatives By Ron Berry

The University of Louisiana at Monroe College of Business begins the 2009-2010 year with several new initiatives for students and faculty.

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Finally, last month I introduced the executive MBA program that Louisiana Tech University and ULM are partnering to offer in the Monroe area. The colleges of business have formed an alliance to offer the program beginning January 2010.

We’re very excited and appreciative that CenturyLink has agreed to serve as our host for the program. All classes will be taught at its headquarters on U.S. 165 North. You can learn about the program at Tech’s Web page at http://business.latech.edu/emba/.

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Ron Berry is the ULM College of Business dean. Contact him at rberry@ulm.edu or 342-1100.

 

INSEAD Knowledge: The long march to prosperity

Some 20 years ago, many upwardly mobile young men at China’s elite universities became members of the Communist Party. It was the thing to do, and Xiao Zhixing was no exception.

Today, Xiao is Associate Professor of Management at the China-Europe International Business School (Shanghai), with a PhD (2004) from INSEAD in Organisational Behaviour. In-between, the academic learned how to spot oxymorons, conundrums and dichotomies. And he’s found plenty of them in his native land.

Although one of the largest economies in the world, China “is still – in many senses - managed by the political system of another era,” he says. “On the one hand, you have this superficial market mechanism … but, on the other hand, the Party is a father figure, the decision-maker for almost all important issues in China.”

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This project and its funding methods appear outside the norm for Chinese education. “Business education is a monopoly. The Ministry of Education basically has so far given out only two licences for EMBA education outside of the old state university system: one to us and another to a school in Beijing. That is an important reason why we were able to grow very quickly.”

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Executive MBA students get down and dirty to learn about crisis management

(Aug 3, 2009) How do you teach teamwork, crisis management, creative problem solving, communication, and leadership—those soft skills that are essential to any top-level business position? The Texas A&M University Executive MBA Program at Mays Business School has a unique answer to that question: send the students for a day of exercises at Disaster City, the premiere crisis training facility in the nation, located in College Station, Texas.

Disaster City is a full-scale mock community designed to simulate various levels of disaster and wreckage, such as a train derailment and building collapse. Rescue workers from around the world use the facility for training purposes. The A&M Executive MBA students will take part in a specialized day of training that will test their leadership skills instead of their business acumen on August 5, 2009.

Disaster City is a full-scale mock community designed to simulate various levels of disaster and wreckage. In this 2008 photo, MBA students participate in drills designed to test leadership and management skills during a crisis.

Incorporating this exercise into the EMBA curriculum was inspired by the students’ involvement in crisis management for their companies during Hurricane Ike in September 2008. During the exercise, the EMBA students will be divided into teams to complete tasks such as rescuing “victims” from a train wreck, a high speed GPS scavenger hunt, and a “slab drag,” moving a 1,200-pound block of concrete with team effort and pulleys. They will also practice responding to the media and other external audiences during crisis.

As they learn how to respond during a physical crisis, the expectation is that those skills will transfer to a business setting—from natural disasters like Ike, to stock crashes and business take-overs.

“The Disaster City experience is about putting our Executive MBA students in a physically challenging, high stress environment that will test them in every way,” said Julie Orzabal, director of the Executive MBA program. “The lessons they learn through these exercises will translate into how they work together in their teams, how they communicate, and how they lead their organizations.  We are excited about incorporating this unique opportunity into our curriculum.”

Top local and national response experts will instruct and facilitate the EMBA challenge. These instructors have responded to some of the largest disasters in U.S. history, including the 9/11 World Trade Center attacks, Hurricanes Katrina, Rita, Gustav and Ike, and the space shuttle Columbia incident.

The EMBA training at Disaster City will be part of their “Residency Week” program, which introduces the new class of students to the A&M program and campus. After Residency Week, all EMBA classes are held in The Woodlands, near Houston, Texas.

For more information about Disaster City and the Texas A&M University Executive MBA Program at Mays Business School, contact Kristin Cooper at (979) 458-4571 or kristincooper@tamu.edu.

About the Texas A&M Executive MBA Program

The Executive MBA Program equips today’s working leaders with the skills and knowledge they need to excel in a rapidly changing organizational environment. The unique program is built around an ongoing study of how value is created in all aspects of an organization’s operations. Peer discussion and real-world case studies replace the typical lecture-driven classroom format. The result is a highly interactive learning environment that provides each participant with knowledge they can put to work immediately. The 18-month program begins a new class each August. For more information, please contact the Executive MBA office at emba@tamu.edu.

Mays Business School currently enrolls more than 4,000 undergraduate students and 875 graduate students. Mays is nationally ranked among public business schools for the quality of its undergraduate program, MBA program and the faculty scholarship of its 105 professors in five departments.

This article is brought to you by By Chrystal Houston • August 3rd, 2009

Mays EMBA Program Reaches Top Honors by Financial Times

Journal ranks Mays program highly, focus on experience

(Dec 2007) In rankings released by the Financial Times, the Executive MBA program offered by the Mays Business School has been ranked No. 1 in the nation among public schools, and No. 5 in the world in participants' work experience.

Work experience is defined as the measure of the previous experience of the EMBA participants by examining seniority of positions held, number of years in each position, size of the company and any international work experience prior to starting the EMBA by the Financial Times.

Mays' EMBA program has been tied at 66th in the world among the top 90 schools surveyed in the 2007 rankings.

Click here to review full article.

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