CEO Magazine - Volume 13

Preparing Leaders to

TRANSFORM Things I learned from Bill Gates

Jack Welch’s TEN TIPS for

Building and Leading Winning Teams Let them Eat MOOCs: The issue of Massive Online Open Courses CEO13_OFC_Cover v2.indd 1

Advice on negotiating the MBA Application Process

The Women of the Future Awards: Beth Hepworth 20/12/2013 09:21

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CONTENTS

Table of Contents 16 18

8 12 15 16 18

MBA Review CEO Magazine

Jack Welch’s Ten Tips for Building and Leading Winning Teams Jack Welch

#Entrepreneurship CEO Magazine

Let them Eat MOOCs Gianpiero Petriglieri

The 60 Word Interview Matricia James

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20 24 26 28 30

Preparing Leaders to Transform Andrea Backman

Negotiating the MBA Application Process Alexandra Skinner

Meet the Dean Gail Whitaker

Why Usain Bolt should run a Business School Dominique Turpin

Jesuit Education for The 21st Century Leader Jim Joseph

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34 36 38 39

Three Things I learned from Bill Gates Dominique Turpin

From Application to Graduation Cristina Somoza

#Leadership CEO Magazine

Concentrate... Here Comes the (Business) Science Bit! Robert Mueller

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39 42

MBAs in a Post-Recession World Emad Rahim and Darrell N. Burrell

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The Work-Applied Learning for Change Conference Alexandra Skinner

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47 50 53 54 56

Destination: Paris, via The World David Russell

The Women of the Future Awards

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Alexandra Skinner

#Living CEO Magazine

The Dark Side of Online Discounts Karan Girotra, Simone Marinesi and Sarah Wachter

List of Contributors

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CONTENTS

Published by the International Graduate Forum: Head Office: Communications House, 26 York Street, London W1U 6PZ (UK) Telephone: Fax: Email: Web:

+44 (0) 870 067 2077 (UK) +44 (0) 870 067 2078 (UK) a.skinner@graduate-forum.com www.graduate-forum.com

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© 2013 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.

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.

CEO

Victor J. Callender

Group Editor-in-Chief

Alexandra Skinner

Designer

Matt Dettmar

Financial Controller

Anthony Gordon

Head of Production

Steven Whitaker

Researcher

Amber Callender

For further information on annual subscription rates, please visit:

Price per issue, including web access: £10.00 | €12.00 | $15.00

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MBA REVIEW

International Graduate Forum MBA Rankings Winter 2013 The International Graduate Forum’s (IGF) 2013 Winter MBA Rankings have been compiled based upon key performance indicators considered to be of interest and value to potential students. Thus, international diversity, class sizes, student work experience, facultyto-student ratios, and faculty qualifications – both academic and professional – have been given considerable weight. With competition between business schools continuing to increase, it is important for schools to understand what students really want. Schools ranked highly by the IGF in CEO Magazine have been successful in this goal.

NORTH AMERICAN MBA RANKINGS

EUROPEAN MBA RANKINGS

Tier One

Tier One

Appalachian State University

Ashridge Business School

California State University

Audencia Nantes

Colorado Technical University

Birmingham Business School

Fairfield University

Brunel Business School

Fordham University Graduate School of Business Administration

CEU Business School

Georgetown University, McDonough

Copenhagen Business School

Jacksonville University

Cranfield School of Management

kennesaw State University

Darmstadt University of Applied Sciences

Kent State University

EADA

La Salle University

EIPM

Le Moyne College, Madden

ENPC School of International Management

Lynchburg College

ESADE Business School

Millsaps College

ESMT

Niagara University

European University

Northwest Missouri State University

HHL Leipzig

Queens University of Charlotte

ICN Business School

Simmons College

IE Business School

The University of Memphis

IESE Business School

University of Alabama in Huntsville

IfM - Institut für Management

University of Rochester, Simon

International University of Monaco

University of the Sciences

ISEG - Lisboa School of Economics & Management

Wake Forest University School of Business

Lancaster Management School

Tier Two

Lorange Institute of Business Zurich

Berry College, Campbell * Boston College, Carroll Carnegie Mellon University, Tepper Columbia Business School * Georgia Southern University Grand Valley State University McNeese State University College of Business Roosevelt University UCI Merage School of Business University of Alaska Anchorage

Mannheim Business School MIP Politecnico di Milano Paris School of Business Porto Business School Reykjavik University Rochester-Bern SBS Swiss Business School The Lisbon MBA (Nova and Católica-Lisbon) * University of Strathclyde Warsaw School of Economics

University of Denver, Daniels College of Business

Tier Two

University of Texas at Austin McCombs *

INDEG-IUL ISCTE

University of Washington, Foster Washington University in St. Louis * Willamette University, Atkinson 8

*Incomplete data

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MBA REVIEW

AUSTRALIAN MBA RANKINGS

ONLINE MBA RANKINGS

Tier One

Tier One

1

Victoria University Graduate School of Business

Colorado Technical University

=2

Australian Institute of Business

Deakin University

=2

Monash University

George Washington University

4

University of Wollongong, Sydney

IE Business School

5

The University of Queensland Business School

Imperial College Business School

=6

University of Sydney Business School

Indiana University, Kelley

=6

Melbourne Business School

International University of Monaco

=8

Macquarie University Graduate School of Management

Jack Welch Management Institute

=8

Australian Catholic University

Northwest Missouri State University

10

Deakin University

SBS Swiss Business School

11

University of Western Australia Graduate School of Management

Temple University, Fox

12

University of Ballarat

Thunderbird School of Global Management

13

Swinburn University of Technology, Australian Graduate School of Entrepreneurship

University of Liverpool

14

The University of Adelaide

University of Westminster

15

RMIT University Graduate School of Business and law

16

University of Technology Sydney

17

University of Western Sydney

18

Murdoch University Business School

19

Southern Cross University *

University of North Carolina, Kenan-Flagler

Tier Two

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MBA REVIEW

WINTER 2013 GLOBAL EMBA RANKINGS Tier Two

Tier One Ashridge Business School

Europe

Australian Catholic University

Australia

Audencia Nantes School of Management

Europe

Carnegie Mellon, Tepper

North America

California State, San Bernardo

North America

CEU Business School

Europe

CENTRUM Catolica

Peru

Columbia Business School *

North America

Copenhagen Business School

Europe

Concordia University, John Molson

Canada

Cranfield School of Management

Europe

EIPM

Europe

EADA

Europe

ESMT

Europe

ENPC

Europe

European University

Europe

ESADE

Europe

Georgetown University, McDonough

North America

Euromed

Europe

IfM-Institut f端r Management

Europe

Fordham University Graduate School of Business Administration

North America

INDEG-IUL ISCTE

Europe

Kennesaw State University

North America

HHL Leipzig

Europe

Lorange Institute of Business Zurich

Europe

ICN Business School

Europe

Mannheim Business School

Europe

Jacksonville University

North America

MIP Politecnico di Milano

Europe

Kent State University

North America

RMIT University Graduate School of Business and Law

Australia

Lancaster University

Europe

Saint Mary's University, Sobey

Canada

Millsaps College

North America

University of California, Irvine

North America

Porto Business School

Europe

University of Regina

Canada

Queens University of Charlotte McColl School of Business North America

University of Technology Sydney

Australia

Reykjavick University

Europe

University of Texas at Austin, McCombs *

North America

The University of Memphis

North America

University of Washington, Foster

North America

University of Rochester, Simon

North America

University of Wollongong, Sydney

Australia

University of Strathclyde

Europe

Washington University in St Louis, Olin *

North America

University of Sydney Business School

Australia

Warsaw School of Economics

Europe

MBA Rankings KPIs criteria weighting

*Incomplete data

EMBA Rankings KPIs criteria weighting

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s ’ h c l e W k c Ja

TIPS FOR BUILDING WINNING TEAMS

1

g n i d a e L d n a g n i d l i u B r o f 10 Tips s m a e T g n i n Win Get Under Their Skin From the day you become a leader, your biggest role is to build trust,

Realize Personnel Actions Speak Louder than Words When you pick someone for a

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Embrace the Generosity Gene I happen to believe that every good leader loves to give raises to people.

respect and support from your team. A mutual

new job, you are defining what’s important.

They are thrilled to see their employees grow

respect. As long as they deliver, you will

Managers love to give speeches about how their

and be promoted. They are turned on by their

support them and stand up for them in every

new initiative is the most important thing in

success. Good leaders understand that they

way -- and they know it. It’s a never-ending job

the world. But then they put whatever warm

are only as good as the reflected glory of their

and you can never slip up.

body happens to be available in charge of it.

people -- and so they give until it hurts.

2

Nothing could be worse. When you make a

Over-Communicate

personnel appointment, you’re doing much

It’s your job to communicate your

more than any speech you could ever give. The

message, your values, what’s right

people in the organization already know who

9

Own Hiring Mistakes Look, you’re not the only person in the history of the universe who

about what’s happening, and what’s wrong

the star performers are. And matching those

has ever made a hiring mistake. Once you

-over and over and over again. There can be

stars with the projects you claim are important

understand that hiring is hard work and you’ll

no lack of transparency. Everybody has got to

is absolutely critical for your credibility and the

surely have missteps along the way, realize

be on the same page. Even when you’re ready

trust you want to build.

that you’ve got to deal with mistakes fast and

to gag over the message, you have to keep communicating it.

3

Follow-up Relentlessly

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compassionately. Recognize that it was your

Find a Better Way

fault that the fit didn’t work and get on with it.

Recognize that, in business,

The team will respect you more. The hire you

somebody out there is always doing

dealt with fairly will respect you more. And your

Just because you say something

something better than you are. Your team can

superiors will reward you for your candor and

once, it doesn’t mean it’s going

get insular and come to believe they’re already

willingness to own up to your error.

to happen. Too often, managers think, “Hey,

doing everything right. Your job is to ask, “How

I told my team what to do.” Then they come

can we do it better? Where can we find someone

back a week later and nothing has happened.

doing it better?” Finding a better way of doing

Yes, your job is to set the direction. But you

things every single day can become so much

also have to make it your mission to follow up –

more than a slogan. It can become a way of life

someone do something wrong or have to face into

relentlessly – to see that things are moving

and make your group stand out above the rest.

a violation somewhere in your organization. To

in the right direction.

4

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5

Create a Rallying Cry I’ve always found that defining an

7

10

Dig into Crises Without doubt, crises are going to erupt in your career. You’ll have

make matters worse, when you first hear about

Fight Bureaucracy

it, you’re not going to get the whole story – after

Remember how much you hated

all, you’re the boss. You’re only going to get the tip

bureaucracy from the bosses above

of the iceberg. Underneath the surface is a very

you when they wanted this “i” dotted and

big piece of ice. Your team will come to you and

competitor that’s coming after you. Rally the

this “t” crossed? Guess what? You’re now the

feed you, piece by piece, a slow-drip expose of the

team around every win you have against them,

leader. Don’t let bureaucracy creep into your

crisis. Your job is to dig deep, early and fast, to get

every new product you introduce that’s better

place. Just because it’s yours doesn’t make it

it all to the surface. Be candid. Recognize there

than theirs. Make that competitor come alive

any prettier than when it was someone else’s.

are no secrets anywhere. Get the right people

as your true enemy and you’ll see your team

Get rid of clutter. Bureaucracy slows things

involved immediately. And you will see a quicker

galvanize around beating them and winning in

down and speed is one of the best competitive

and better resolution to problems that people all

the marketplace.

advantages you can have.

too often try to brush under the table.

enemy is very helpful. Define a

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TIPS FOR BUILDING WINNING TEAMS

I happen to believe that every good leader loves to give raises to people.

Biography Ø Jack Welch is the Executive Chairman of the Jack Welch Management Institute at Strayer University, a unique online MBA and Certificate program aimed at giving students globally and at every career level the tools to transform their lives and the organizations of the future. He is the author of two best-selling books: Winning and Jack: Straight from the Gut. He began his career with the General Electric Company in 1960 and in 1981 became Chairman and CEO. During his 20+ year tenure as CEO, the GE’s market capitalization rose from $13 billion to over $400 billion. In 2000, he was named ‘Manager of the Century’ by Fortune magazine.

Jack is the head of Jack Welch, LLC, where he serves as Senior Advisor with the private equity firm, Clayton, Dubilier & Rice and is an advisor to IAC (Interactive Corp). He also speaks to business audiences and students around the world.

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#ENTREPRENEURSHIP

#Entrepreneurship Becoming an Entrepreneur

Qualities of Successful Entrepreneurs According to Stephen Key, inventor, author, speaker and cofounder of InventRight, LLC., a Glenbrook, Nevada-based company that educates entrepreneurs in how to bring ideas to market, there are five common characteristics that entrepreneurs share:

In comparison to when they were employed, entrepreneurs are:

63% Busier 30% Better-off 54% More relaxed 71% More optimistic 81% Happier

1. An un-wavering passion 2. Open-mindedness 3. The desire to be an expert 4. A forward-looking approach 5. A constant flow of ideas

The Great Entrepreneur Quiz “One thing I have worked out is the knack of identifying in a few minutes (and in most cases, a few seconds) the entrepreneurs and businesses that definitely won’t make it big and therefore aren’t right for investment. Of course, I can’t claim this is an exact science - and a lot comes down to the personality, passion and persistence of the entrepreneur when you meet them. But, that hasn’t stopped me putting together a multiple-choice quiz.” Andy Yates

Question 1: Why do you want to start up your own business? a. To make a difference. b. To make a lifestyle choice. c. To make a bundle of cash.

Question 2: How committed are you?

a. I will do whatever it takes. b. I will commit whatever time I can manage. c. I will do whatever makes sense – I have a lot of things on the go.

Question 3: Are you a team player?

a. I know I can’t do this alone – I do, or will, work with experienced people with complementary skills. b. I know I can work on my own or with other people. c. I know what I am doing and I can take this on myself - after all, the reason I am in this business is that I can do it better than other people.

Question 4: Where do you want to be in five years’ time?

a. I want to see my product or service used by thousands of people. b. I want to be happy. c. I want to be sitting on a beach.

Question 5: How are you going to make money?

a. I have spoken to customers, I know what they want and what they would pay and I have worked out my supply and distribution costs. b. I have spoken to suppliers, worked out the costs and I reckon I can make a margin. c. I will provide it, customers will come.

Question 6: How are you going to grow sales?

a. I am going to lead initial sales and then hire more experienced people. b. I am not a sales person, so I will focus on getting the product right and sort out the rest later. c. I will provide it, customers will come.

Question 7: Have you got any competitors?

a. Yes, but I have identified the gap in the market, understand the market size and opportunity and outlined clear reasons why people would buy from me.

b. There are some big competitors but I know who they are and I will watch them closely. c. No, I haven’t got any competitors – my business is unique.

Question 8: How much profit is the business going to make in five years’ time? a. I am ambitious and forecast strong growth based on reasonable assumptions from what I already know of the market and the opportunity. b. As long as I pay the bills and do my best to grow, the business should make profits. c. The business is going to be massive. Revenues are going to go through the roof

Question 9: How much do you know about your industry or sector?

a. I and/or my team have experience and contacts in this sector. b. I have done a bit of work in this area and reckon I should be OK. c. I know what I am doing. How hard can it be?

Question 10: What have you achieved so far?

a. I have sorted out my initial product/service and got some initial sales/traction/data/ PR/social media followers/ marketing exposure. b. I have done a lot of research. c. I have a brilliant idea.

If you answered mainly As: Well done. You are on the right track to getting outside help, backing or investment.

If you answered mainly Bs: Think carefully about what you really want. You may be a lifestyle or consultancy business – which is great and can give you the freedom and control you want – but to get backing or investment you may need to be more ambitious.

If you answered mainly Cs: Business is much harder than you think. You might get lucky and you may have struck gold. But, don’t be in a gold rush to give up the day job.

Andy Yates is an experienced entrepreneur, business mentor, advisor and angel investor. He is an investor director at Huddlebuy (www.huddlebuy.co.uk), Europe’s largest money saving site for businesses – that already helps more than 200,000 enterprises and is expanding globally.

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LET THEM EAT MOOCs

Let Them Eat

MOOCs Gianpiero Petriglieri

O

ne late afternoon last spring I received a visit from a former student and budding entrepreneur.

I usually schedule these meetings at the end of the workday. It feels like a treat, witnessing aspiration and insight blend into leadership to create something new.

Luis (not his real name), however, had not come to see me for leadership advice. He had come to pitch his tech start-up and ask for my involvement.

The venture, he explained, would contribute to the ongoing disruption and reinvention of business education and allow anyone anywhere — not just those as fortunate as himself — to have access to my teaching and insights online, for free.

While I would not be compensated, I’d have the opportunity to reach a broader audience and to be at the front — and on the right side — of the online revolution in education. I would become a better teacher, help democratize management learning, and secure my own and my school’s place among the survivors and beneficiaries of digital disruption.

I had heard all those arguments before. Reach.

Scale. Efficiency. Democratization. This was my third such conversation in six months, including one with a pioneer of Massive Online Open Courses (MOOCs), the first wave of a digital tsunami headed towards the shores of higher education.

When I pointed out that I already share and discuss ideas freely online, in this blog and on Twitter, Luis beamed. That was why he had reached out, he said.

Apparently I have the right profile for a MOOC professor. I’m young enough to be threatened, good enough to be useful, and tech savvy enough to be interested (perhaps also vain enough to be flattered). My fondness for the Internet as a public agorá is surely a sign that I want it to become my open classroom as well.

Actually, no. It isn’t. When it comes to joining this battle I declare myself a conscientious objector.

Mind you, I am not unsympathetic to the argument for MOOCs and their derivatives — that many people who need knowledge and skills don’t have the resources to acquire them in those

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expensive and inefficient bundles called “universities.” Nor am I blind to the problems facing business schools and higher education at large, or lacking in my enthusiasm for technology. I am not immune to flattery either.

I can easily concede that for many topics, the right numbers and platform may foster online learning and interactions as meaningful as those that take place in the average classroom or seminar room, especially for students and faculty accustomed to living part of their social lives online. And I believe that the conscious intent of MOOC proselytizers is altruistic.

However, as the Princeton sociologist who discontinued his popular MOOC illustrated, if you are a prominent faculty member at an elite university, the idealistic prospect of spreading free knowledge to the masses may distract you from pondering your MOOC’s more troublesome potential social consequences.

MOOCs can be used as a cost-cutting measure in already depleted academic institutions and become another weapon against battered faculty bodies.

They may worsen rather than eliminate inequality, by providing credentials empty of the meaning and connections that make credentials valuable.

Worst of all, they may become a convenient excuse for giving up on the reforms needed to provide broad access to affordable higher education.

The traditional kind, that is, which for all its problems still affords graduates higher chances of employment and long-term economic advantages.

Seen from this perspective, the technodemocratization of education looks like a cover story for its aristocratization. MOOCs aren’t digital keys to great classrooms’ doors. At best, they are infomercials for those classrooms. At worst, they are digital postcards from gated communities.

This is why I am a MOOC dissenter. More than a revolution, so far this movement reminds me of a different kind of disruption: colonialism.

Given the resources and players involved in producing and praising MOOCs, it’s hard to argue that this is a case of enterprising outsiders toppling

I envisioned myself walking to a digital guillotine in tattered academic garb. a complacent establishment. (Do you see any “outsiders” in this galaxy of MOOC funders?) It is far more similar to colonialism, that is, disruption brought about by “the policy and practice of a power in extending control over weaker people or areas” and simultaneously increasing its cultural reach and control of resources.

All educational institutions have a dual social function: to develop individuals and to develop culture. Sometimes development involves affirmation. Sometimes it involves questioning and reform.

All education therefore involves both training and socialization. The knowledge one acquires is not just the concepts and skills to become a good employee, but also the values and morals to become a good citizen — of a society or an enterprise.

This is as true of the liberal arts college as it is of the professional school, corporate university or online diploma factory.

Colonialism is a particular kind of socialization. It involves educating communities into the “superior” culture of a powerful but

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LET THEM EAT MOOCs

distant center by replacing local authorities or co-opting them as translators. A liberating education, on the other hand, makes students not just recipients of knowledge and culture but also owners, critics, and makers of it.

While they claim to get down to business and focus on training only, MOOCs do their fair share to affirm and promulgate broader cultural trends, like the rise of trust in celebrities’ authority, the cult of technology as a surrogate for leadership, and the exchange of digital convenience for personal privacy.

The idea that we should have access to anything wherever and however we want it for free, in exchange for the provider’s opportunity to use and sell our online footprint to advertisers or employers, is the essence of digital consumerism.

This is the culture that MOOCs are borne of and reinforce in turn.

Even the fabled personalization that digital learning affords is really a form of mass customization. There is no personal relationship.

It is a market of knowledge where no one is known and care is limited to the provision of choices.

Whether its crusaders are venture capitalists, entrepreneurs, academics, or students, the colonizer is a transactional view of education, centered on knowledge as a commodity, which displaces a relational view of education, centered on developing through relationships. This in turn becomes, like all precious resources of colonial territories, no longer a common good but a leisurely privilege.

Luis nodded pensively when I pointed out that his venture could turn a job like mine and an education like his into even more of a privilege.

So I asked him what he thought may happen when companies like his finished disrupting my profession.

Ultimately a teacher is a sophisticated search and social technology, he explained, in a crescendo of techno-utopianism. What we do is make judgments as to what knowledge is interesting and useful and order it in ways that make it accessible.

We also broker connections through admissions and recruitment. There is no reason why an algorithm could not do all that someday.

I envisioned myself walking to a digital guillotine in tattered academic garb, whispering, “Let them eat MOOCs.” Luis laughed. I asked one last question.

Why would I want to help him make my job irrelevant? Because of legacy, he answered excitedly. I’d be proud that I was one of the people who taught the algorithm to think.

I’d rather keep going with humans.

This article first appeared on HBR.org, October 2013.

Biography Ø Gianpiero Petriglieri is Associate Professor of Organisational Behaviour at INSEAD, where he directs the Management Acceleration Programme, the school’s flagship executive programme for emerging leaders. He also has a Medical Doctorate and a specialization in psychiatry. You can find him on Twitter @gpetriglieri.

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THE 60 WORD INTERVIEW

The

Word

One journalist, one interviewee, one catch – each response must be answered in 60 words or less. In this issue, Alexandra Skinner speaks to Jacksonville University’s Matrecia James.

Tell us about you:

Online learning vs. on-campus learning:

I am the associate dean of the Davis College

There is a demand for both. Technology

A business school’s top three responsibilities are:

of Business at Jacksonville University in

enhanced delivery (TED) allows us to continue

1. To teach the fundamentals of effective

Jacksonville, Florida. I am responsible for

improving the flexibility and quality of

managing the accreditation processes for both

our curriculum, while extending our reach

SACS and AASCB in our college, increasing

and appeal to students outside our local

student engagement on our campus and in the

metropolitan area.

corporate community, cultivating relationships

business in organisations.

2. To develop the natural talents and skills of students through leadership development.

3. To provide organisations with competent, professional and ethical employees.

directing internal and external leadership

Study trips: valuable learning experiences or education vacations?

development efforts.

Our global engagement initiatives are

Business schools need to stimulate learning by:

designed to promote cross-cultural

Addressing issues in an innovative manner.

with universities around the globe and

Describe your MBA vision:

competence, disciplinary scholarship and

Our MBA vision is to establish an

international business awareness through

atmosphere of academic excellence

intellectual interchange between faculty and

A higher education trend that you didn’t see coming is:

that gives high-performing executives

culturally immersive student experiences.

Increased demand for the professional

the opportunity to enhance their

Currently, we have established relationships

doctorate of Business Administration by

business expertise, professionalism

and built new academic programmes in

corporate executives.

and personal leadership skills through

Glasgow, Scotland and Taipei, China (ROC).

collaborative engagement with faculty,

Our long=term goals are to expand, explore

One that you did is:

colleagues and the community.

and build relationships in Europe, Asia and the

The need for more flexibility in programmes

Middle East/Africa.

offered at traditional schools.

degrees that sharpen expertise in a particular

The biggest challenge facing Deans of MBA programmes is:

Three business skills that are missing from the market are:

field is growing, there is still a healthy demand

Securing resources necessary to develop,

1. Professional ‘business writing’ skills.

for traditional MBAs that provide enhanced

maintain and enhance an academically rigorous

2. Comprehensive, integrative thinking across

competence in the fundamental areas of

programme with practical importance that

business, as they provide students with

meets the needs of the student/executive,

versatile knowledge.

corporations and academia.

Specialisation vs. traditional programme: While the demand for specialised master’s

Focus on core business skills or nurture innovation and entrepreneurship?

Business schools are challenged to find ways to do both. Core business skills are critical, but innovation and entrepreneurship are also vital to the sustainability of a vibrant business economy.

18

functional areas.

3. The ability to recognise the value of interpersonal skills in organisational success.

Our global engagement initiatives are designed to promote cross-cultural competence, disciplinary scholarship and international business awareness.

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THE 60 WORD INTERVIEW

Three ‘soft skills’ a business leader cannot do without are:  Political savvy, emotional intelligence and multicultural appreciation.

A school’s role in nurturing these is:  Designing contemporary programmes that address these issues in classrooms, and through external engagement activities, such as student organisation initiatives and corporate involvement.

One application or interview do: Present a comprehensive and authentic view of self, sharing interest and potential to succeed.

One application or interview don’t: Don’t sell yourself short by turning in an application with missing information.

The best thing about the University is: We offer a high-quality education in an environment that allows students to build relationships with peers and faculty, and to share expert knowledge that cannot be found in a textbook.

And one improvement that you would like to make would be: Like most traditional institutions of higher learning, Jacksonville University could shift more focus to the external learning environment that puts students in real-world situations, similar to the ones they will be exposed to after graduation.

The future for Jacksonville University: Jacksonville University’s Davis College of Business is poised for expansion into the global academic and business environment. We are cultivating relationships with other learning institutions and businesses around the globe.

Additionally, we are expanding our local community outreach by designing and delivering programmes to meet the unique needs of our student and business community leaders.

Parting words for would-be MBAs: Come in expecting to learn and grow. Be open to encouraged self-awareness and focus on enhancements that develop leadership skills that can be applied throughout your career.

Biography Ø Dr Matrecia Long James is Associate Dean and Associate Professor of Management for the Davis College of Business at Jacksonville University in Jacksonville, Florida.

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JACK WELCH MANAGEMENT INSTITUTE

Preparing Leaders to

TRANSFORM Alexandra Skinner speaks to Andrea Backman, Dean of the Jack Welch Management Institute

Andrea Backman, Phd, is Dean of the Jack Welch Management Institute.

leadership to finance, to marketing and strategy.

Jack Welch serves as the Executive Chairman

But our programme stands apart because it

of the JWMI and is actively engaged with

is saturated with Jack Welch’s principles and

students, faculty and the leadership team.

practices lifted straight from the front-lines of

Within each course, we embed videos of Jack

business. Our students have the opportunity to

that are relevant to course learning outcomes

learn directly from one of the most successful

and course content. In addition, we regularly

CEOs of all time as well as other top business

post video clips of Jack on the JWMI landing

What makes the Jack Welch Management Institute stand apart?

executives and thought-leaders.

page. In these clips, Jack shares insights related

The Jack Welch EMBA is laser-focused on

100 per cent online to provide maximum flexibility

news stories. In addition, Jack was instrumental

the immediate application of learning. Students

to working managers and executives. No one has

in building the courses, infusing the curriculum

are asked to share how they are using what

time to take two years off from work and go to a

with expert insights and practical applications.

they learn in their professional settings and

leafy campus anymore. Our programme allows

what results they are realising. In this way,

our students to maintain career momentum while

Jack Welch EMBA students during which he

students are testing and refining the practices

gaining the credentials and skills they need to rise

takes their questions and shares his views on

they are learning in meaningful ways. What

to the next level.

course content and leadership principles and

A final differentiator is our delivery, which is

class on Friday.

In terms of content, we still deliver all the fundamentals of a traditional MBA, from

Each term Jack hosts a video conference with

strategies. Jack also interacts with faculty

they learn on Monday, they can apply at work on Tuesday and come back and discuss with the

to current business topics, controversies and

Jack Welch is directly involved throughout the programme. How are his experiences and knowledge woven into the EMBA?

STUDENT EXPERIENCE During my search for an MBA programme I knew I needed flexibility given the demands of my job.

During my due diligence I discovered the JWMI at Strayer University. I was attracted to the foundation of the coursework rooted in Jack Welch’s philosophy.

Having been in the business world for over 30 years I wanted a programme that spoke to the real-world application of theory.

I am not aware of anyone else in business that can do that like Jack Welch. I am almost halfway through the programme and, although the work is hard, I am finding it exhilarating and immediately beneficial. My goal after completing the programme and receiving my MBA is to start a second career in teaching at the undergrad level. I feel certain that the programme will result in me achieving that goal.

I am very confident in recommending the programme to others that want to continue their education at the graduate level. The quality of the staff, from recruiting to professors, is first class – they have a real focus on the students. I feel proud to be associated with the programme and being part of what I believe will continue to grow to be a world-class MBA programme.

throughout, ensuring that we have only the best and most committed in our classrooms.

As all of the study is online, faculty play a key role in the Jack Welch EMBA experience. Please can you tell our readers about the profile of your faculty?

JWMI faculty have an average of 20 years’ professional experience, representing a wide range of businesses and industries.

They have teaching experience at institutions including Cornell University, Northeastern University, the University of Virginia, DePaul University, Boston University and Baruch College.

Our faculty hold graduate degrees from some of the world’s leading universities, including the University of Pennsylvania’s Wharton School, Harvard University, the London School of Economics, the Thunderbird School of Management, University of Maryland, University of Virginia and University of Minnesota’s Carlson School of Management.

Our faculty serve not only as content experts but also as coaches, to ensure that

Jim Burns is Vice President and Managing Director, JW Marriott, Grande Lakes Orlando 20

students are gaining both expertise and confidence along the way. Faculty engage with students each day of the week. They add

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JACK WELCH MANAGEMENT INSTITUTE

The learning experience is focused on how to be more effective in practice, rather than learning about management in theory.

Ardith Bowman, Ph.D. Professor, Jack Welch Management Institute EMBA In my experience, the Jack Welch EMBA aims not only to develop great leaders, but also to build more effective organisations through them. Our EMBA students return to work each week with new tools to apply and share within their organisations. I am energised and honoured to be a part of an MBA that is, in fact, making a difference in the world of business.

I understand many of the issues our students face, having worked in a variety of management and individual contributor roles in the telecom industry. In fact, my drive to earn an advanced degree was fuelled by my desire to understand how to improve the practice of the management I observed in my organisation. I founded a consulting practice focused on helping managers and their teams to be more effective. In time, I discovered another way for me to impact managers and their teams was through teaching. Since then, I have dedicated my life to helping managers grow through learning and practice.

The students in the Jack Welch EMBA have the professional experience needed to support real learning and change. The learning experience is focused on how to be more effective in practice, rather than learning about management in theory.

Thus, the discussions between students are insightful, candid, and challenging; the networking connections in the Jack Welch EMBA are intended to last for a lifetime.

The challenge of teaching professionals who are dedicated to their careers is ensuring the learning experience is efficient and quickly applied. Our students want to learn because it relates directly to their success at work.

In order to benefit from the programme, new students need to set aside time to understand how to access learning materials, participate, and manage their time. Once these things are mastered, participation in the EMBA experience will become part of their weekly routine. The Jack Welch EMBA provides exemplary support for first term students to successfully settle into the learning routine, including a support coach, writing coach, active faculty outreach, and attentive advisors. We all want the student to be successful and achieve their goals.

The Jack Welch EMBA is the right programme for managers who want to build on what they know, learn from and share with other professionals, and are energised to make a difference in their organisations.

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JACK WELCH MANAGEMENT INSTITUTE

to highlight weekly lessons, add feedback

In ‘traditional’ EMBA programmes students often have the opportunity to attend talks led by guest speakers from industry. Do you incorporate a similar element into your programme?

MBA students want to be able to apply what they’ve learned on a Friday at work on a Monday. How practical is the Jack Welch EMBA curriculum in terms of its application in the workplace?

about student work, provide encouragement

Yes. We often have guest lectures in our

Application is central to what we teach. In

and share timely news that is related to course

classrooms. We also have guest speakers

every course we ask students to apply what

learning outcomes. All faculty hold synchronous

available to share lessons and to host virtual

they are learning and to share their reflections

meetings with students throughout the term

question and answer sessions. In addition,

about the outcomes of doing so. In addition,

and are available for phone calls and meetings.

we record exclusive interviews with

our faculty bring practical work experience

Classroom observations are undertaken several

successful leaders who share their

that they share with students on how they

times each week to ensure faculty are present,

stories with our students.

applied similar principles/theories in their

interesting content, highlight current events to enhance learning, respond to student discussion posts and provide feedback on papers and assignments. They also post videos

responsive and fully engaged.

business practices.

to coach and encourage. The student affairs

What are the most common challenges online students face, and how can potential students’ best prepare for the course at JWMI?

team does the same. In addition, we have a

Students often have a challenge fitting

week). Their feedback provides detail about the

custom-built tool that faculty use to measure

graduate work into their already busy lives.

curriculum and the instruction, and

student engagement. This cutting-edge tool

Graduate work at the Jack Welch EMBA

the value they’re getting from both.

allows faculty members to see the number

requires a significant time commitment and

We use the feedback to continuously

of logins, number of posts, time in the online

self-motivation. We counsel new students and

refine our content and practices.

environment and cumulative performance.

prospective students on the importance of

Our faculty use this tool to provide further

time-management and the time commitment

on investment they are realising whilst

outreach to students.

it takes to be successful in their studies.

they study. In our most recent survey,

Our faculty are trained on student engagement strategies. When students are not fully engaged, faculty provide direct outreach

We measure effectiveness, relevancy and ROI in many ways. First, we ask students for feedback several times each term (in the second week, in the sixth week and in the ninth

We also ask students about the return

98 per cent of current students who responded to the survey reported that

STUDENT EXPERIENCE I selected JWMI as it was the programme that offered the most flexibility and scalability allowing me to study from anywhere and connect with classmates from around the world. I had concerns about how I would interact with my professors and if the online experience would be a lonely journey, but it has been so incredibly engaging. I have become very close with my Jack Welch EMBA professors – the JWMI staff rallies around students when life throws in unexpected challenges. Jack takes his time with the students and pours himself into the programme to ensure that his principles are being applied and that students achieve immediate success. My advice for those considering an MBA at JWMI (my future family):  You can do this – reinvest in yourself and see the immediate impact.  Don’t let it be all about the assignments. Get involved in the programme and use this as an opportunity to network with everyone you meet along your journey.  Life will happen. You might change jobs, be blessed with a new family member, experience a loss, be challenged with an illness, etc. Reach out to your JWMI network when you need support and encouragement to stay the course. We are in this together!  Enjoy every moment – you’re a college student again so take advantage of those coffee shops, libraries and plane rides to get your work done.

Make sure to have fun along the way and celebrate with your family and friends!  Share your knowledge with those around you. Trust me – they will appreciate the investment that you are making in them.

the Jack Welch EMBA had been a valuable investment (23 per cent said it was the best investment they had ever made).

Each year, we survey our alumni population. 69 per cent of our students reported they received a raise, promotion, or other professional recognition since starting the programme.

What developments and innovations can we expect from the Jack Welch Management Institute over the next 12 to 18 months and beyond?

We have a number of initiatives underway to continue to innovate and engage our students. Some of these initiatives include: greater interaction through the use of simulation in the classroom; video clips of leaders who have used the concepts we teach in their daily work lives and the results they have realised; social media communities for student networking; and interactive cases.

In addition, our courses and curriculum are mobile-ready, making it easy for students

Kathleen Thompson is Director of Acquisition & Integration, PGi 22

who are on-the-go to access content and students wherever they are.

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JACK WELCH MANAGEMENT INSTITUTE

For those who are considering an online MBA, I would advise that you do not choose an online MBA thinking it is ‘easier’ than a traditional MBA; because it is NOT!

Richard Chua, Ph.D. Adjunct Professor, Jack Welch Management Institute

Having trained executives and adult learners over the past 25 years, I am very impressed with the Jack Welch MBA programme, in terms of both the course structure and the calibre of students it attracts. The level of engagement and collaborative learning that takes place each week is truly outstanding.

The students, who are experienced professionals and executives, draw from their work experience to provide detailed, well-researched discussions as I engage and challenge them using probing questions drawn from my expertise and consulting experience, and guide them by sharing proven approaches, tools, useful links and resources such as my published articles and books.

For those who are considering an online MBA, I would advise that you do not choose an online MBA thinking it is ‘easier’ than a traditional MBA; because it is NOT! Having taught in both traditional and online environments, I have found that the online environment is user-friendly but definitely not easier.

The asynchronous interaction in online technology enables and encourages well thought-out and well researched posts and responses in the discussions. This is an advantage in an online setting over traditional classrooms where responses tend to be impromptu. In addition, I am able to elicit responses from each student without any one person dominating the ‘air time’, as typical in a traditional classroom. I am responsive, specific and detailed in my comments and feedback so that each individual student experiences a direct connection with me.

Another advantage of the Jack Welch EMBA is the quality of the faculty, who are current practitioners in their respective fields, not theoreticians. As for myself, I am a trainer and consultant with 25 years’ of experience in enabling companies to design, control and improve products, services, processes and quality. My successes have been published as cover stories in ASQ’s Six Sigma Forum and Quality Progress magazines, including one on Genentech (Roche), and one which I co-authored with the CEO of Samsung Electronics.

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NEGOTIATING THE MBA APPLICATION PROCESS

Negotiating The MBA Application Process

An MBA is an investment; an investment of your time, an investment of your money and, most importantly, an investment in your future. Aside from programme selection, your choice of school is also important and this will come down to a mix of location, cultural fit, support and (often unavoidably) cost, to name a few. However, your time and research into school and programme selection will go to waste if you fall at the application hurdle. Essays, letters of recommendation, transcripts, CVs, open days, Skype sessions, MBA fairs, interviews, meetings with current and past students – it’s a positive (and a negative) minefield! Below, 10 schools give their advice on the do’s and don’ts of the MBA application process to CEO Magazine’s Alexandra Skinner.

AnnaMaria Murphy

Aimee Akimoff

Amanda Pyman

Graduate Admissions Counselor, Jacksonville University, United States

Director of Recruitment, Willamette University MBA, United States

Monash MBA Programs Director, Monash University, Australia

If you are seeking an MBA to prepare for your

Advice #1: First Impressions

first professional position or career change,

Being considered for a place in an MBA or

consider a full-time program that builds your

Executive MBA program is not only about

Always be sure to put your best foot forward

breadth and depth of knowledge, develops your

gaining a competitive advantage over fellow

in all aspects of the admissions process.

professional resume through client projects and

applicants – it is also about navigating the

This includes your verbal and nonverbal

internships, and enhances your career tools to

standard admissions process to ensure

communication, such as your ability to

communicate, network, build teams and lead.

that the admissions team gains insight into

follow instructions with an overall positive

Your MBA will be an effective investment for

who you are, and what your aspirations

attitude and demeanor. We are focused on

success in a competitive global economy if you

are. Our advice is to focus on showcasing

attracting future talented leaders, so we look

choose a program that provides more than just

your signature strengths; demonstrating

for those academically and professionally

knowledge. Seek an MBA program that also

your understanding of the program you

qualified individuals who exhibit a positive

develops your professional experience and opens

are applying to; and highlighting what it is

impression. Ways to do so include being

doors to more choices and career opportunities.

you have to offer both the program and the

professional during all contact with the admissions office while ensuring that all documents are submitted in a timely manner and free of errors.

Advice #2: Personalize Your Essay

Academic Program Director Graduate Programs Office, College of Business Administration, Kent State University, United States

Many students will often apply to more than

Students should make a personalized effort

one school. Submitting a generic essay can

when applying to graduate programs. It’s

negatively impact your chances of getting

important to make your essay unique to each

into the program of your choice. Admissions

particular school or program’s application and

officers are looking for applicants who are

include information that won’t appear on your

passionate about attending and contributing

transcript. Plus, ALWAYS remember to always

to their institution. A submission of a generic

proof read your materials.

essay implies that the school is not of

24

Louise Ditchey

Choose your recommenders carefully. Students

importance to the applicant. When you apply

should select people who know them, rather than

for a job, you always submit a personalized

choosing the person with the highest title. This

cover letter for each position. The same

way you’ll ensure that your recommendation

applies for graduate school.

will be authentic and impactful.

learning experience of your fellow students.

Rather than trying to guess what the panel wants to see and hear, remember that what they want to see and hear is YOU!

Your time and research into school and programme selection will go to waste if you fall at the application hurdle.

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NEGOTIATING THE MBA APPLICATION PROCESS

Cristina Somoza

June Jacklin

Department of Advanced education, Darmstadt University of Applied Sciences, Germany

Assistant Faculty Admissions Officer, Graduate Management School, Lancaster University, United Kingdom

We see great value in an international student body. Nearly 40 per cent of our MBA students come from abroad. To ensure smooth

When applying for an MBA, research your

admission, our international students should

school choices well, wherever possible, by

consider some important things:

visiting and speaking with current students and programme directors. This will help you

 Contact us in good time to clarify your

decide if the school fits your personal goals and

questions or doubts. If you are unsure as

needs. Make sure your CV demonstrates that

to whether you meet the requirements,

you have the quality and skill that is required.

you can send us your documents for a

Only provide information that relates to your

non-binding examination.

past career goals, we don’t need to know about

 Initiate your admission process as soon

swimming certificates etc.! Prepare well for the

as possible. The recognition of foreign

admissions interview. Schools are looking for

diplomas, visa issues and procedures and the

candidates who sell themselves well and are

move to another country take time. We will

highly motivated. Research the programme and

always be glad to assist you!

have some good questions for the interviewer.

Anna Pietraszek Director Graduate Admissions, Recruitment & Financial Aid, Florida International University Chapman Graduate School of Business, United States At the Chapman Graduate School of Business at FIU, we take pride in working closely with students to help them determine which of our 14 graduate programs provides the best fit for their professional goals. Our students not only

Melanie Coburn Senior Associate Director, Admissions, Fully Employed MBA Program, The Paul Merage School of Business, University of California, Irvine, United States  Tell Your Story  Be real – Don’t tell us what you think we want to hear  Do your research on the business school  Provide leadership examples – be specific  Demonstrate professionalism  Give serious thought to your essays  Portray yourself as part of a team  Be sincere and truthful  Choose your recommenders wisely  Highlight accomplishments on your resume  Stand out – be memorable  It’s your individual experiences that make you an ideal candidate!

current students during the application process.

Those who connect with our students online or who attend preview events almost always put forth stronger applications and have more thoughtful answers in admissions interviews. We believe the best MBA candidates take full advantage of the opportunities to connect.

Anna Bacigalupi Admissions Manager, Marketing & Recruitment, Master Programs, MIP Politecnico di Milano, Italy

learn from our world-class faculty but also from each other. We are truly an international

Apart from the standard requirements and

business school. We seek a student body that is

well-developed interpersonal skills, we look

characterized by both diversity and commitment.

for maturity and self-motivation, commitment

We are looking for candidates that can bring

to self-improvement, drive to achieve full-

their real life experiences to the classroom. We

potential and a real passion for knowledge.

strongly encourage our prospective students to

e

Our classes are relatively small, usually no

apply early and submit the required documents

more than 45 to 50 students for each intake.

on time, including strong recommendation

This allows us to select people concretely

letters. A well-written resume is also a key factor

interested in our school, who have understood

in the admissions process.

our priorities and values and are ready to deal

Erin Town Director of Admissions, University of Washington Foster School of Business, United States

with them. They should also demonstrate a strong commitment to the program, have knowledge of the contents of our program, an awareness of the risks and profits of an MBA and be humble and willing to participate in discussions. A high level of tolerance of

Our MBA program seeks students who are great

differences is also a very important component.

at connecting with others. MBA classroom performance, MBA learning and MBA job search success all depend on one’s ability to effectively work and interact with other human beings. To that end, we expect prospective students to connect with our staff and especially with our

Biography Ø Alexandra Skinner is Group Editor-inChief at CEO Magazine.

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19/12/2013 17:05

MEET THE DEAN

Meet the

DEAN

Alexandra Skinner speaks to Gail Whitaker at Colorado Technical University

What developments and key trends do you see emerging in the 2014 MBA landscape?

Employers are increasingly vocal about their expectations of MBA graduates. They want graduates who have developed critical-thinking and problem-solving skills. They also seek a strong body of knowledge and global leadership acumen that’s aligned with industry standards. The emerging trend is to integrate these standards and expectations across the entire curriculum, versus just one course in the programme.

Will CTU be responding to these developments?

Absolutely! Our curriculum is developed with input from entrepreneurs, business leaders

Please tell us about your background

and special-interest experts to bridge the gap

As driven and goal-oriented as I am, my career

What is your vision for the CTU School of Business?

trajectory has not been linear. I followed

My vision aligns with CTU’s ‘cycle of life‘- a

and industries’ actual needs. Our curriculum

opportunities that interested me and best

programme that reflects the knowledge and

is mapped to a recognised body of knowledge

used my talents. This led me to a variety of

skills that employers seek. We try to understand

for each concentration area, including building

roles, from chief technology officer to business

the needs of employers and align our curriculum

students’ global leadership acumen through all

consultant, and finally my current role in

to those needs. Students taking our industry-

our MBA courses. For example, our students

academia as Dean. I have a BSc in Business, an

related courses invest this knowledge back into

respond to case studies involving global

MSc in Labor Studies, an MSc in Information

their places of employment.

decisions including mergers; overseas marketing

between what traditional schools have taught

strategies; identifying countries to best position

Systems and a DM in Management.

What would you say are the school’s key strengths?

their product line and dealing with challenges

Access to a powerful professional network,

as its political, environmental, technological and

My background blends a range of experiences

real-world faculty and accessible, innovative

legal challenges.

that I call ‘my triple advantage’. I have more

technology are some of our key strengths. CTU

than 20 years of experience in leadership,

also passionately seeks to deliver on the three

entrepreneurship and academia. These

‘I’s: innovation, integration and improvement.

How can a student get the most from their CTU MBA experience?

experiences give me practical leadership

We use award-winning, innovative technology.

We believe in the power of a professional network.

insight, well-rounded business acumen and a

Our curriculum integrates real-world experience

Students who enroll are not just considered

comprehensive approach to business challenges.

though a professional learning model that includes

students, but members of CTU’s growing

problem-based learning and simulations. Students

network of professionals that includes faculty,

partake in case studies based on real-world

staff and alumni. We offer a wealth of resources

examples, developing procedures and processes

and support (career services, advisors, etc.)

that they’d be expected to devise in the real-world.

to enhance learning and develop long-lasting

What experience do you bring with you, and how will you incorporate that at CTU?

related to each country’s infrastructure, as well

connections that students can leverage well

Can you illustrate that with an example?

beyond graduation. For instance, whether the

For example, in one of our courses, students

student has questions about coursework or

have to undertake external analysis and create

financial aid or any other issue, student advisors

an implementation plan to take a company

are on hand to resolve any and all issues they

global. They use actual business analytical

experience. Knowing that they have dedicated

models to drive decisions.

resources available to them is not only reassuring,

They also participate in simulations, running a multi-million dollar company. Based on a weekly

it allows our students to focus on what matters most – their growth as successful individuals.

industry newsletter, they have to make decisions which, in turn, impact all business units.

Decisions are dynamic and made in real-time,

26

Every Dean has a wish list. What are your top three ‘wants’ for areas of change?

and teams compete against each other in

Getting an MBA degree is an amazing

the class. Finally, we continue to adapt and

accomplishment and my wish is that every

improve our programme through a rigorous

student realises they can accomplish more

assessment and development cycle, in

with the specialised knowledge and leadership

keeping with the needs of business.

skills they are acquiring. My second wish is that

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MEET THE DEAN

future students take action on their dream to

our MBA and Project Management programmes

earn an MBA, rather than put it off. Finally, I

are aligned to the Project Management

wish more employers would support employee

Institutes’ (PMI) body of knowledge. Our MBA

pursuits of MBA degrees because of the value

in HR management programme is aligned to

added to the organisation.

the Society for Human Resource Management’s (SHRM) body of knowledge. And, as you

What do you feel are the biggest challenges facing the Deans of business schools, and how do you plan to tackle them?

certainly remember, CEO Magazine ranked

Most challenges are external, such as and competition. CTU tackles these challenges

With the fast-paced nature of the online programme market, how will you maintain this success?

by staying one step ahead and proactively

We believe in continuous improvement.

addressing issues. We are constantly innovating

It’s what led to our success, and what

and providing flexible options to help support

will continue to keep us successful.

students through some of these challenges.

We are sensitive to student

decreasing financial resources for students

CTU’s online MBA programme as a Top 10 Online MBA Programme in 2012.

My wish is that every student realises they can do more with their life with the specialised knowledge and leadership skills they are acquiring.

needs and balance that

What do you feel executives and high-potentials expect from an MBA programme?

with the demands of

They want MBA programmes to provide the

knowledge they need to

knowledge needed to walk in the door and

thrive in a competitive,

start solving problems immediately. Beyond

changing market.

employers to ensure our graduates have the

this, they seek the ability to drive change, engage employees and manage challenges with high business acumen. Ensuring that our MBA curriculum meets these needs is my commitment and passion.

How do you maintain a balance between crossfunctional expertise and social responsibility in your programmes at CTU?

How is CTU positioned to meet these demands?

Courses within our programme include a study

CTU is truly making innovations in online

students are given assignments to heighten

learning, and we’re doing it without sacrificing

their awareness in those areas. For example,

quality. In fact, we’re making the learning

students must complete a capstone project that

experience better though a new professional

tackles a real-world business problem, which

learning model that uses adaptive learning

commonly has aspects of ethics and social

technology. This technology recognises what

responsibility weaved into it.

of ethics and social responsibility. Beyond this,

you already know, anticipates what you’re

opportunities to learn something new. Our

It’s neck-on-the-line time; list three things that CEO Magazine readers can expect from the Colorado Technical University over the next 12 months?

students turn theory into practice, enabling

At CTU, our aim is to deliver an accessible,

them to put what they know to use immediately

student-centered, career-oriented and

in the workplace.

industry-relevant education. To fulfill that

ready to learn and tailors your course materials accordingly. That way, you can move quickly over what you already know and have more

vision, you’ll notice even more innovation

You offer an online MBA programme that has been very successful. What do you feel makes this programme flourish where others have failed?

CTU has an ability to gain insight into realworld business issues and integrate that into its curriculum. We are always looking to make our programme better, which means being tuned into business needs and aligning our

coming from CTU in the next year. Our goal isn’t just to confer degrees, but to enable students to earn opportunities to succeed in their career.

Biography Ø Dr Gail Whitaker is University Dean at Colorado Technical University’s College of Business.

curriculum to industry standards. For example,

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WHY USAIN BOLT SHOULD RUN A BUSINESS SCHOOL

Why Usain Bolt should run a Business School Dominique Turpin

U

sain Bolt did a Q&A session at IMD last year, just after he had won three gold medals at the London Olympics. Bolt was terrific – relaxed, funny, and fully engaged with the audience.

What really struck me about Bolt was his focus. He runs the 100 meters, 200 meters and 4x100 meters relay: just the sprints! Nothing else. No 400 meters and no long jump, for example, which are very different events.

Business schools could learn a lot from him, because right now most schools lack total focus.

Yes, they have a social mission to fulfil, and need to meet the needs of a broad audience. However, not all schools should look alike!

I’ve just got back from a couple of conferences in the US, and I saw the same two worrying signs that have been bothering me for some time now.

First, too many business schools are trying to do too many different things—undergraduate programs, master’s degrees, a Ph.D., executive education and so on. By spreading themselves so widely, they end up all looking the same. The only schools that still stand out are those that already have fantastic brands, a heritage from the past that is being increasingly challenged.

Second, business schools are not focusing enough on the real world. Largely thanks to tenure systems, many professors are too busy trying to get academic articles published to notice what’s really going on outside their door. It reminds me of the joke about the academic who sees something working in practice and starts thinking whether it could ever work in theory.

We keep hearing how MOOCs (Massive Open Online Courses) are forcing schools to shape up and reinvent themselves. Maybe! But MOOCs

could just as easily lead to the same old model, with everyone doing the same sort of thing and little original content emerging. The eventual winners in online education will probably be schools with big names and famous professors, but will anyone bring anything new to the table?

Business schools that really want to be successful must develop a super-sharp and innovative focus in everything they do, particularly in terms of both what they teach and how they teach it. Taking this step won’t be easy. In fact, it will be painful for many, because business schools by nature are some of the most conservative institutions on the planet.

Different business schools will choose different paths, of course. My own focus is on executive education—helping companies and organizations to solve real problems and enabling managers to perform better.

So when we hire new faculty and staff I want people with a global mindset. I want curiously minded people looking for original and relevant ideas. I want people who are great with clients and can be credible at the very top level (a Ph.D. alone isn’t enough here). And I want people who are collegial, which academics often are not.

Most of all, I want people who are passionate about the real world. The kind of people who would rather get out and smell the air than worry about titles and tenure.

It’s time for business schools to do some serious thinking about what they’re really for. They need to figure out what it is that makes them different from all the others.

And, like Usain Bolt, they need to keep that focus.

It reminds me of the joke about the academic who sees something working in practice and starts thinking whether it could ever work in theory.

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Biography Ø Dominique Turpin is the Nestlé Professor and President of IMD. He co-directs IMD’s Orchestrating Winning Performance programme.

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WHY USAIN BOLT SHOULD RUN A BUSINESS SCHOOL

Acknowledgement Ø Courtesy of IMD. IMD was established in January 1990, as the successor of two previously independent business schools: IMI, founded in Geneva by Alcan in 1946, and IMEDE, founded in Lausanne in 1957

by Nestlé. Incorporated under the name “International Institute for Management Development,” IMD, as the institution is now known, has a long history of providing executive education.

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LE MOYNE COLLEGE MADDEN SCHOOL OF BUSINESS

JESUIT EDUCATION

for the21st

Century

LEADER

Alexandra Skinner speaks to Jim Joseph at Le Moyne College’s Madden School of Business

T

he world of business is changing rapidly, and with it so must business education. That challenge is being taken on vigorously at Le Moyne College, a Jesuit institution in Syracuse, N.Y. In recent years, their business education has been transformed as, in rapid succession, the college earned accreditation from the Association to Advance Collegiate Schools of Business, converted its Division of Management to a full-fledged 'School of Business', and received a historic gift of $7 million from alumnus Michael Madden, who also lent his name to the school.

Today, the Madden School of Business is committed to realising its benefactor’s vision of a business school that is “nimble, forward-thinking and, above all, committed to its students.” It is characterised by programmes that emphasise ethics,

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entrepreneurship and a facility with global issues, and is led by faculty members who incorporate their own practical experience into their courses. Outside of the classroom, students continue to learn as they engage in study abroad opportunities around the world, complete internships with numerous prestigious organisations, and interact with professionals who become their mentors.

Following the dedication of the school’s new home this fall, CEO Magazine’s Alexandra Skinner spoke with Incoming Dean, Jim Joseph ’83, who will begin leading the school from March 2014, about what it takes to provide students with a business education that will prepare them for success and leadership in the 21st century.

The following are his reflections on the value of the Madden School, what it takes to prepare tomorrow’s leaders, the new facility, as well as the future of business education at the college.

On his vision for the school “My vision is for the Madden School to become one of the premier institutions of business education in the world. We have everything required to make that ambition a reality: caring, dedicated faculty; state-of-the-art facilities; and ample opportunities for our students to learn outside of the classroom. Before they graduate, Madden School students become immersed in the world around them and its complexities as they study abroad on three continents, work as interns for organisations across a variety of sectors, and conduct research alongside faculty members. They become bold, imaginative leaders who are distinguished by their commitment to use their passion to meet the world’s needs.”

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On the new Madden School building “For me, the only thing more exciting than seeing the space for the first time was watching how other people reacted to it. It’s spectacular. Housed in one of Le Moyne’s most historic buildings, the first floor has been completely renovated and now includes a state-of-the-art trading floor and financial education centre, complete with the same Bloomberg terminals used by investment firms around the world. It also has an analytics and marketing research lab where our students are gaining experience in mining data and using it to make sound business decisions, an accounting lab, and multiple technology-enhanced classrooms.

Our next step will be to renovate the second and third floor to house faculty offices and a livinglearning community for students. The significant investment that has been made in this facility is an affirmation of the college’s commitment to business education at Le Moyne, both at the undergraduate and graduate level.”

Michael Madden, the school’s benefactor

They become bold, imaginative leaders who are distinguished by their commitment to use their passion to meet the world’s needs.

JIM JOSEPH

On relationship-building with the business community “As executive-in-residence, I had the opportunity to meet with people throughout the business, education and government sectors, and to form strategic partnerships with them. There are myriad ways in which these connections benefit our students. For instance, at the undergraduate level, they aid numerous students in securing internships that often lead to full-time jobs after graduation once their employers see the quality of their work.

Other connections provide students with the chance to continue their education in some of the most prestigious graduate programmes in the nation, often at a reduced cost or in less time than is customary. At the graduate level, the business leaders I have met are eager to work with our MBA students. They have served as guest lecturers in upper-level classes and have allowed graduate students to spend a semester working with them and creating a business plan for their organisation as part of their capstone project.

Beyond that, these connections have also helped me and other leaders in the Madden School to secure additional local, state or federal funding to help support many of our programmes.

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“I would be remiss if I didn’t emphasise that many of the professionals I met in my capacity as executive-in-residence now serve as mentors to our students or as members of one of the Madden School’s advisory boards. Today more than 100 executives volunteer their time as advisors to business students, sharing their professional expertise with these young men and women as they prepare to embark on their own careers. Meanwhile, the members of these boards, all senior executives in their fields, lend their expertise in areas of curriculum and expanding learning opportunities for students. A recent focus has been on making these boards more diverse with respect to gender, industry and geography, so that they truly reflect today’s business world.”

On the ‘Famous Entrepreneurs Series’ “The Famous Entrepreneurs Series (FES) was established in 2006 to fuel the entrepreneurial spirit in Central New York by bringing successful business leaders to the region to share their successes and failures, and their vision for the future. At its core, the FES is meant to provide attendees with the opportunity to build relationships that will lead to collaboration and enhance the local economy.

Among those who have been featured as part of the FES are Carlos Diminguez, Senior Vice President at Cisco, Gary Schwartz, CEO of Impact Mobile Inc., and Vijay Govindarajan, author of Ten Rules for Strategic Innovators. They all have a high energy level coupled with an innovative spirit, a willingness to take on risks and a deep commitment to their work, and it was truly inspiring to hear from them.”

corporation, and when hiring a new employee I looked for someone who was a self-starter, who embraced technology, and who thought holistically. That epitomises our graduates.”

On the school’s social partnerships

On the challenges facing business schools “The single biggest challenge we face is that the world of business itself is changing so rapidly and so resoundingly. Competition is fierce, resources are scarce, and uncertainty abounds. The world seems to be shrinking, and so we are faced with a difficult question: How do business schools prepare their students to enter this fray? At the Madden School, our approach is first to provide our students with expertise in a particular field – for instance, accounting, marketing and finance – and second, with the agility and flexibility they’ll need

Jim Joseph

to continue to evolve throughout their careers.

The latter can’t be overstated. As they enter the professional world, our graduates have been trained to think in terms of ‘Yes, and ...’ not ‘either or.’

Before I arrived at Le Moyne, I was the chief executive officer of a large international

When hiring a new employee I looked for someone who was a self-starter, who embraced technology, and who thought holistically.

That epitomises our graduates.

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“I am very proud of our partnership with the Family Business Center (FBC), which is now housed in the Madden School’s Keenan Center for Entrepreneurship, Innovation and Creativity.

Family businesses are the backbone of our economy, as they comprise approximately 90 per cent of all business enterprises in North America.

The FBC plays a critically important role in supporting their unique needs. Our partnership involves a number of ongoing activities and collaborative initiatives. Faculty members are focusing their energies on providing world-class programming with an emphasis on the unique needs of family businesses. For instance, they are acting as consultants to members, assisting them with requests for external funding, and offering seminars and workshops geared toward familyowned businesses. Meanwhile students are working as interns for many of the companies that belong to the FBC, and are learning first-hand about the issues that family businesses grapple with daily.

“I am also very pleased that the Madden School is the home of the Pedro Arrupe, S.J., Program for Christian Social Ethics in Business, which provides theologians and business leaders with the opportunity to explore the practical application of business ethics through research, reflection and collaboration. For 20 years, the Arrupe Program was housed at Georgetown University’s Woodstock Theological Center. When the Woodstock Center closed in February 2013, the Madden School was selected as the new home of the Arrupe Program.

This is a partnership that will have a profound impact on business education at Le Moyne in the coming decades as it provides new opportunities for students, faculty and alumni to explore a variety of issues surrounding business, ethics, leadership and social responsibility. It goes to the very heart of our mission. When a student graduates from Le Moyne, enters the workforce, and says, ‘I am Jesuit

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LE MOYNE COLLEGE MADDEN SCHOOL OF BUSINESS

educated,’ it means that they bring to the table a lot more than technical expertise. It means that they have a view of the world and how to contribute to it, and will bring a sense of integrity to what they do. It is extremely rewarding to hear people who employ our graduates tell me they are some of the most generous, competent, clear-headed and ethicallyminded people they have met.”

On partnerships with other schools “Locally, we have outstanding partnerships with Cornell University’s School of Hotel Administration and Industrial Labor Relations School and Syracuse University’s Maxwell School of Citizenship and Public Affairs and Falk College of Sport and Human Dynamics. These agreements allow students to enjoy a rigorous, Jesuit undergraduate education at Le Moyne and to go on to earn a graduate degree from programmes that are among the most highly regarded in the world. Some students may choose to pair that graduate degree with an MBA from Le Moyne.

“We also have an agreement with ESADE, one of the top five business schools in Europe, which allows our students to see how business is conducted globally. During the month-long programme, participants have the opportunity to earn six credits toward their degrees and to meet entrepreneurs and business leaders from across Europe and Latin America. Beyond that, these emerging leaders also become immersed in the culture of Spain and the history of the Society of Jesus, visiting the cave near the town of Manresa where St. Ignatius of Loyola prayed while formulating the ideals for the Spiritual Exercises. They gain a new perspective on the world, improve and refine their decision-making and problem-solving skills, and test their professional interests, all while making contacts and forming connections that will last a lifetime.”

On the school’s mentoring opportunities “A rich educational experience is so much more than what happens in the classroom. It’s about the relationships students form, particularly those with mentors, which can be among the most significant of their lives. Mentors aid students in seeing the world beyond their own education and experience, offer advice on how to navigate the professional world, and provide them with a support system as they are making important decisions about the future.

During the course of my professional life, I have been fortunate to have had some truly wonderful mentors.

I have also had the opportunity to serve as a mentor to several young people and found it to be among the most rewarding experiences of my professional life.

The new trading room

Our commitment right now is to provide a mentor to every junior and senior in the Madden School, and eventually to expand that to every student.”

On keeping up with Generation Y “Our goal is to develop globally aware, culturally sensitive leaders for the 21st century. This requires our MBA programme to deliver the necessary skills coupled with, what we call, formation. For skills, we are constantly evaluating the essential competencies required in a technology-driven, knowledge economy – emphasising business analytics, understanding of information systems, and the complexities of global business. On the formation side, we emphasise the life-long learning skills that will help our graduates succeed as ethical leaders who can explore multiple perspectives, discern the optimal course of action, and generate value across multiple bottom lines for the benefit of shareholders, society, and the planet. This dual focus forces us to continually review our curriculum to ensure we offer students opportunities to learn about the latest advances in technology while applying lessons-learned from the challenging global economic environment.”

On the future of the school “The college is a place that means a tremendous amount to me, not just as incoming dean, but as a proud alumnus. Over the next 12 to 18 months we will continue to provide our students with

a curriculum that is relevant, adaptable and dynamic, while addressing the social, economic and environmental forces shaping the world today. I’m extremely excited about continuing to develop the Jesuit Business Case Series, through which the Madden School will serve as the repository for real-world business cases from the nearly 200 Jesuit institutions located around the world. The Jesuit Case Series will be distinguished from other business case series, such as Harvard’s, in that it will reflect the quality and values associated with Jesuit education. Cases will address not only an organisation’s performance, but also its impact on the broader community.

“Beyond that, we will continue to develop our three centres of excellence; The Center for Reflective Leadership and Business Ethics; The Keenan Center for Creativity, Entrepreneurship, and Innovation; and The Center for Global Business. I anticipate adding new programmes that will operate under these centers, much like the Arrupe Program and the Family Business Center, to provide key points of differentiation for each centre.”

Biography Ø Jim Joseph is Incoming Dean, and former Executive-in-Residence, for the Madden School of Business at Le Moyne College, Syracuse, New York, and former President & CEO of Oneida Ltd.

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THREE THINGS I LEARNED FROM BILL GATES

Things

I learned from Dominique Turpin

Bill Gates A meeting I’ll never forget...

Nagoya, Japan, 1982.

I

was at a meeting of entrepreneurs and venture capitalists as part of my Ph.D. on high-tech entrepreneurship in Japan. Most of the people in Nagoya that day were Japanese, including the group of entrepreneurs that I was with.

One person at the meeting certainly wasn’t local. He had big glasses and a funny hairstyle, and he was sitting alone in a corner.

I went over and spoke with him for five minutes, and it wasn’t a sparkling conversation.

He certainly didn’t seem like a very inspiring communicator, and he had no slick elevator pitch for whatever he was doing. Based on our brief chat, I wouldn’t have bet much on him achieving anything.

That person was Bill Gates.

Our short meeting in Nagoya, and Gates’s subsequent achievements, taught me three things:

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1

Never underestimate who’s in front of you

For a start, don’t make my youthful mistake of judging people by their hairstyle. It’s a common human tendency to pass judgment on the way others look and dress.

But doing this won’t serve you well in business.

Withholding or suspending negative judgments about situations or people is a crucial part of having a global mindset.

Sure, Gates might have been short on charisma in those early days. But he more than made up for this with his incredible drive and competitiveness, and his single-minded focus on the PC software business.

2

Surround yourself with smart people

Gates could certainly be a tough manager, and sometimes a brutal debater in meetings, but he also hired smart people at Microsoft and gave them the freedom to develop new ideas.

Although Gates and other great leaders might not admit this publicly, I think they are well aware of their own shortcomings. They know that other people can do some things better than they can.

And they know that balanced management teams, plus clever employees bursting with ideas, are real assets for a business. So they hire and promote people with different skills.

They know that balanced management teams, plus clever employees bursting with ideas, are real assets for a business.

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THREE THINGS I LEARNED FROM BILL GATES

A good example is Steve Ballmer, who succeeded Gates as Microsoft’s CEO in 2000. Just watch Ballmer jumping around the stage during a presentation. He’s much more charismatic than Gates, much more of a showman, and a much better communicator.

So, focus on your strengths, let others fill your skill gaps, and give them the chance to shine too.

3

Know when to step back

Besides hiring smart people with a range of skills, Gates also knew when it was time to step aside from the CEO role.

This is not a quality you always see among business leaders. Far too often, top executives think the company can’t run without them. So they just occupy their position and don’t prepare their succession.

Acknowledgement

Gates was different. He had the self-awareness to know when to let go. Sure, he initially stayed very closely involved with Microsoft, and is still the company’s chairman. But he stopped working fulltime there several years ago and now devotes most of his time to his philanthropic foundation.

You never stop learning in business and in life, and I’ll never forget that meeting in Nagoya over 30 years ago.

Ø Courtesy of IMD. IMD was established in January 1990, as the successor of two previously independent business schools: IMI, founded in Geneva by Alcan in 1946, and IMEDE, founded in Lausanne in 1957

by Nestlé. Incorporated under the name “International Institute for Management Development,” IMD, as the institution is now known, has a long history of providing executive education.

Biography Ø Dominique Turpin is the Nestlé Professor and President of IMD. He co-directs IMD’s Orchestrating Winning Performance programme.

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FROM APPLICATION TO GRADUATION

From

APPLICATION Darmstadt University of Applied Sciences Why Darmstadt University of Applied Sciences?

The Learning Environment

Our Mission is to develop competent and responsible

efficient general-management-education. The

business leaders capable of meeting the challenges of

structure of the curriculum combines in-class

today’s international business environment. The MBA

tuition and self-directed studies at home. The modular

programme at Darmstadt University of Applied Schiences

structure creates a high level of flexibility and provides

(h_da) is designed for young, high-potential employees

the individual with the ability to adjust their pace of

who require solid management skills in addition to

learning. The MBA lectures take place in modern,

their existing academic qualifications. Graduates from

well equipped rooms and laboratories. The virtual

non-business disciplines are the primary target group of

campus complements the MBA programme’s lectures

this part-time course as well as those who have studied

and offers students an excellent learning environment

business as a first degree and wish to expand their skills in

and the opportunity to study at home at a time that

the areas of decision making and management orientation.

suits their schedule.

Our MBA programme stands out for its international

The MBA programme offers an intensive and

Whilst studying at h_da you can benefit from student

focus: our curriculum emphasises international business

services such as e-learning-systems, language courses,

and we place great value on an international student body,

sports activities and access to the electronic library from

providing special support to students coming from abroad.

your home or office.

Applying to h_da We come to you!

Visit us at the QS MBA tour.

Come and join us! Every semester we organise an open day with lectures presenting the MBA programme and, if desired, personal consultation.

Furthermore, you will have the opportunity to sit in on our MBA lectures and meet MBA students. Our next open day is on January 14, 2014

Networking Opportunities Darmstadt is located in the Rhine-Main region, which is wellknown as the economic hub of Europe. The fully-developed infrastructure enables very good transportation to almost any location in Europe, making it easy for you to explore.

Our business school maintains a dense network of company links in the region’s business hub. This creates the perfect setting for our MBA programme, with its focus on strong, professional relevance reflected in many aspects of the course. All courses are taught by highly qualified university professors, managementexperienced lecturers and business leaders with international backgrounds. Our MBA students are challenged to work in a creative space between the academic and professional spheres by contributing experiences from their professional environment to the MBA programme.

Regular events, such as our Fireside Chats, guest lectures and discussion panels with representatives of the business world, are an integral part of our MBA programme and provide exciting insights into economic practice and the scientific world.

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FROM APPLICATION TO GRADUATION

to

GRADUATION Personal Support We don’t leave you in the dark – instead we offer you integrated services to create unique advantages for your career. Through our MBA programme, you will have the opportunity to profit from our network and infrastructure.

Our aim is to help you organise your stay in Germany and create more value for you and your career:  Scholarship opportunities  Advice regarding visas and work permits  Assistance finding accommodation  Help learning and improving German and English in one of our language courses  Access to a broad range of sports such as badminton, boxing, basketball, soccer, rugby, swimming, diving, table tennis, volleyball and many more  Free public transport using the student rail pass  Cultural activities

HEAR FROM OUR GRADUATES “The h_da MBA has had a significant impact on my career.

It has enabled me to develop professionally across two dimensions: from a technical expert within technical product development to a position within procurement, and from an employee to a manager with disciplinary and functional responsibility. The h_da MBA really pays.”

Sakir Temür – Network Procurement Group Manager, h_da MBA 2009

 Networking with other international and German students  Up-to-date classroom technology, free Wi-Fi on campus, extensive library access and e-learning

Career Support A total of 108,740 registered companies host more than 2 million employees, thereby accounting for a GVA of around €180 bn. Many large international companies such as Accenture, Bosch, Deutsche Bank, Evonik Industries, Merck, Procter & Gamble, Siemens and many more have locations in and around Darmstadt.

The university’s career centre offers application training and recruitment days in addition to job application training, and assistance in finding work and internships through our network.

Return on Investment You should start planning your career in Germany whilst studying for your Master’s degree. With a degree from a German university, numerous job opportunities are available to you as an international graduate on the German job market, all of which can help you to successfully launch your career. Students from non-EU countries are able to remain in Germany for the purpose of looking for employment for up to 18 months after graduating.

Biography Ø Cristina Somoza is Coordinator for the Department of Advanced Education at Darmstadt University of Applied Sciences, Germany.

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#LEADERSHIP

#Leadership 1, 385% The average shareholder return delivered by each of the top 100 CEOs featured in the INSEAD/ HBR study of best performing global CEOs 2013

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According to Inc., this is the number of hours Herb Kelleher, co-founder of Southwest Airlines, slept each night. Clearly the hard work paid off.

Although Kelleher has now retired, Southwest remains one of the few continuously-profitable airlines.

$4.7bn You do not lead by hitting people over the head – that’s assault, not leadership.

DWIGHT D. EISENHOWER

The combined total compensation received by the 10 highest paid chief executives in the United States in 2012.

Source: GMI Ratings

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UNIVERSITY OF THE SCIENCES

Concentrate...

Here Comes the (Business) Science Bit! Alexandra Skinner speaks to the University of The Sciences’ Robert Mueller

The University of the Sciences MBA in Pharmaceutical and Healthcare Business –

A Global Experience

A

s with any high-quality education, the experience begins with the students. A full 30 per cent of our students are here or online as part of an international student base. Their experience creates an instant international environment.

Secondly, we have courses, such as Issues and Trends in health policy, which are specifically designed to present health and pharmaceutical commerce in an international setting. Thirdly, a global perspective is part of the experience of our faculty, who have all had long careers in the industry. Finally, we have a specific international pharmaceutical business course, which provides an introduction into the issues of global health policy, and business.

There is no business that is completely domestic anymore, and global realities might mean markets, competition or customer expectations. In 2001, Jim O’Neil coined the term BRIC, and from that day forward we have had to demonstrate the capacity of doing research in the developing world.

Our customers expect this perspective, and this expectation has brought a demand for permanent change in US MBA programmes.

The Pharmaceutical Industry in 2013 We are preparing our students by letting them know that while the sector is rapidly changing, this also means there are many more new and interesting opportunities.

The past decade has brought:  1400 mergers worth $700 billion;  the loss of $63 billion due to the expiration of drug patents (the patent cliff); and  the passage in the US of the Affordable Care Act. This has meant that while the traditional career tracks or marketing and sales are less robust, other opportunities have opened up:  biologic medications, personalised medicine and outcomes-based pharmacology economics;  the medical device industry has continued to grow (estimated to be $127 billion for 2013);  the vaccine sector is offering a broadening array of therapies; and  mobile health technologies, ranging from portable electronic health records to personalised data collection and analysis, will change the way healthcare is delivered and open up new career opportunities.

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UNIVERSITY OF THE SCIENCES

Inside the Classroom: The Student Mix The make-up of our student population is truly international. A quarter of our students are here to study from other countries, including India, Saudi Arabia, Canada, Africa (several countries) and France. This global student base means that, as faculty and students, we can never take a parochial US perspective.

There is no business that is completely domestic anymore, and global realities might mean markets, competition or customer expectations.

Another way of looking at our student mix is via their work experience; those that are in their mid-20s and have had their first work experience, and those who are close to mid-career. The mid-career students are most likely to be interested in taking advantage of our online format because of its ability to accommodate their work/life realities.

As befits a university with such a strong science and pharmacy provenance, we attract students who come from the science side of the pharmaceutical and healthcare business. Many of these students are seeking to make the move from pure science to the effective management of scientists and to be active participants in the key commercial debates and choices.

We have also begun to attract a number of healthcare practitioners, most specifically Doctor of Pharmacy students and graduates. We have done this through an integrated programme with our own PharmD students and with past graduates of the programme.

Networking Opportunities Our entire faculty bring with them decades of working relationships. These are relationships with senior executives at most of the major global pharmaceutical companies with a US presence. Our location in Philadelphia means that our students have convenient access to the many pharmaceutical and healthcare companies based in the northeast corridor from Philadelphia through New Jersey and New York.

These executives serve as serve as guest lecturers, judges for student projects and presentations by offering internships.

Continuous Evolvement Our MBA programme is, and always will be, in a constant state of change and development. We have redefined our programme in a number of ways:

The University of the Sciences’ Faculty One of the greatest advantages our faculty offers is a robust network. We preach the importance of networking for careers and lifelong learning to all our students. As opposed to a traditional faculty where their network is based on academic relationships.

Our faculty all come from industry. Examples include:  A past VP at GlaxoSmithKline  A managing partner of a life science consulting firm  Owner of an organisational consulting and market research firm  The founder of a specialty pharmaceutical company that was successfully bought by a major pharmaceutical firm  The founder of the largest US pharmaceutical market research firm of its era  The current CEO of a biotech  Several current pharmaceutical company executives  An ex-director of market research at the then largest US pharmaceutical company  Principals of a leading managed market consulting firm

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 We broadened the name and content of our programme from just pharmaceuticals to pharmaceutical and healthcare business.  We aligned our on-campus and online curricula so that students can move seamlessly between the two programmes as they need to.  We have updated our courses to reflect changes in the commercial dynamics of the industry. An example is the change of one of our sales and marketing courses to one that focuses on the realities of the current power shift in therapeutic choice from physicians alone to a dynamic that includes the payers in the system.

We have made advancements in the technology we employ to deliver our classes, such as audio video classes delivered in real-time to our online students. This allows us to provide “synchronous” classes (rather than the modern day equivalent of correspondence courses). All on-campus classes are taped so that if a student misses a class, they can watch the class at their leisure.

To insure that we constantly evolve, we have a monthly teleconference with our students to learn of any changes they would like to see.

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UNIVERSITY OF THE SCIENCES

The International Pharmaceutical Business Study Trip At USciences, we perceive the study abroad programme as a learning experience. Our vision has always been to provide an opportunity for students to engage in multinational learning through direct communication with global pharmaceutical and healthcare industry leaders. Our schedule has included numerous meetings with multinational pharmaceutical companies and health system components. Our students have presented to the EMEA and to students from Tokyo University.

Through the study trip, students have learned to:  Explore multinational cultures and how cultures influence pharmaceutical business and healthcare.  Describe the drug approval process outside the US.  Engage in international projects with student peer groups from other countries and business disciplines.  Discuss the differences in marketing, financial management, and regulatory expectations between the US and the rest of the world.

Our programme has offered this course in multiple countries including China, Japan, the United Kingdom and continental Europe. Our format includes morning briefs and evening close-out meetings. Students are expected to be engaged in coursework prior to the trip and to present to international organisations during the programme and to faculty once they return to the US.

In the language of the pre-digital world, we bring valuable Rolodexes.

The University of the Sciences and the Future We will be expanding our course offering so that our MBA is highly applicable for those working in a clinical setting, e.g. hospitals and physical therapy settings.

As the ACA qualification becomes part of Americans’ lives, we will integrate it into our courses.

Biography Ø Robert Mueller, EdD, is Director of the MBA Program and Assistant Professor of Pharmaceutical and Healthcare Business at University of the Sciences, Philadelphia.

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MBAs IN A POST-RECESSION WORLD

MBAs in a

Post-Recession World Dr Emad Rahim and Dr Darrell N. Burrell

I

n light of the international financial challenges in the auto, banking, insurance, mortgage and real estate industries, not to mention the international corporate scandals, such as those of Enron, AIG and Bear Stearns, criticism is growing over the value of the MBA for developing effective business leaders who are ethical, professional and respectful of their employees and communities. After all, if the definition of management is getting work done through staff or human resources, why are so many MBA programs focused on teaching technical skills like finance, accounting and operations as opposed to courses on staff development?

A Google search for ‘MBA curriculum’ renders roughly 223,000 results. During the same period of time, a Peterson’s search for an MBA program presents approximately 127 possible concentrations for aspiring graduate business students to choose from. What is most interesting is that even though most of the results referenced thousands of individual graduate business programs, the curricula appear to be extremely similar in theory and in pedagogy. Has the graduate business school become an institution that produces management executives through an assembly line process?

Why are so many MBA programs focused on teaching technical skills like finance, accounting and operations as opposed to courses on staff development?

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Where MBAs Went Wrong According to Peter Navarro’s 2008 book on the subject, current MBA courses and programs are missing the mark in five key areas: 1. MBA programs should take a multidisciplinary approach to teaching leadership-development and problem-solving by including areas such as sociology, psychology, human relations, communication, cultural studies and diversity studies.

2. Business programs should prepare students for the challenges of the real-world by combining theory with real-world application through experiential learning.

3. As new technology develops and business influences become more global, business schools should focus on building global leaders by teaching adaptability, communication, innovation, collaboration and organizational-development skills.

4. As the world becomes flatter, MBA programs should focus on valuing diversity, cultural competence and international business.

5. In the wake of major corporate scandals and collapses, ethics, sustainability and corporate social responsibility (CSR) should provide a context that is woven throughout all courses of an MBA program.

Shifting Strategies According to Warren G. Bennis and James O’Toole in their 2005 Harvard Business Review article, the MBA degree is no longer useful in today’s market as the programs lack creativity, design and innovation in their curriculum and teachers. Adapting to the strategic leadership skills necessary for today’s businesses and practitioners, many MBA degree programs should instead be driven by real-world case studies and applied research in university programs like the

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working executive programs offered by Colorado Technical University, Green Mountain College and Norwich University. Students entering these programs participate in practical, case-study driven courses that require them to practice making tough leadership decisions that influence people, organizational longevity and growth.

When considering the nature of the global economy, modern managers require business programs to be more flexible, global, technologically focused, relevant and compatible with their particular needs and busy time schedule.

These facets are critical, as MBA candidates are expected to diagnose problems, analyze data and make decisions that can have long-term implications. These new programs use case studies and simulation exercises in an attempt to provide students with real-world application and plenty of academic practice in crisis and strategic decision-making. In these new programs, students learn to apply theory to management practices in ways that are analytically rigorous and managerially decisive, in a manner that is required in times of corporate uncertainty. In times of global economic chaos, business education programs that develop managers who can effectively influence practice through the use of sound decision-making are a vital necessity.

From the Front Lines We studied a focus group consisting of 24 management professionals who used their in-depth understanding of today’s business world, plus their own extensive and firsthand experience working in that environment, to identify a potential list of course topics that could be beneficially incorporated into modern MBA programs. Focus group participants were selected at random and represented six different business organizations.

Participants were asked to respond to the following question: Based on your leadership experience and the challenges facing managers in 2013, which skill-development courses do you feel would help MBA students cultivate the necessary leadership, decision-making and management skills?

The answers were telling. Here, in order from most to least important, are their responses: 1. Career Planning and Development: One participant made the point that having a career plan and strategic career goals were the biggest driving forces behind career mobility and development. The participants also agreed that a sound grasp of career development and planning skills on the part of executives would make them better mentors.

2. Employee Performance Management and Coaching: Participants said that one of the hardest things is learning how to effectively manage and motivate poorly performing employees. The other essential aspect of coaching is having the ability to help an employee who has raw talent develop into a star performer.

3. Critical Thinking and Decision-making Skills: Today’s managers must routinely make difficult decisions and subsequently develop creative and effective solutions that account for complex variables and consequences.

4. Understanding Organizational Politics and Culture: Making the right kind of relationships can make or break a career, just as not knowing the politics of an organizational culture can damage it.

5. Managing and Valuing Diversity: Effective leadership requires the kind of skills that can develop diverse teams and get them to work successfully together.

The focus group’s results heavily emphasized the importance of leadership-development training as well as communication and relationship building skills.

In conclusion, the purpose of this study was to explore and understand the nature of leadership coursework required for young managers today. Assessment was based on feedback driven from practical and real-world experiences. The insights offered provided an interesting framework for the kind of leadership training that is needed now, and that will be required of future business leaders and frontline managers.

Biographies Ø Emad Rahim, D.M., PMP, University Dean of Business and Management is a PMI Certified Project Management Professional®. Dr Rahim has more than 10 years experience in business development, nonprofit administration, management consulting and project management. Connect with him on Twitter @DrEmadRahim. Ø Dr Darrell Burrell currently serves as an Adjunct Faculty member in the Global and Community Health Department at George Mason University. Prior to his academic appointment he worked for the Nuclear Regulatory Commission and was a recipient of the Presidential Management Fellowship.

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AUSTRALIAN INSTITUTE OF BUSINESS

The Work-Applied Learning for Change Conference Alexandra Skinner

In this global, knowledge-driven economy, individuals and organisations need to continually change through learning in the workplace.

An Introduction to Work-Applied Learning Traditionally, a great deal of business education has been taught in the classroom.

Armed with theories of management, graduates then enter the world of work. It is not always a happy transition. New employees soon find that reality looks rather different to what they had been led to expect, while employers often complain that graduates are ill-equipped for the work in hand.

Then along came Work-Applied Learning. WAL is designed to bridge the gap.

Instead of treating learning and working as separate pursuits, WAL brings them together. Students are encouraged to study part-time, while holding down jobs in business and management. Of course, the library is important and reading articles by scholars and practitioners is an essential part of the learning process. But so, too, is the workplace, for this is also where learning takes place.

Theory and practice go hand-in-hand. With WAL, assignments undertaken for a qualification should test knowledge about both realms. Students are encouraged to tackle ‘real world’ problems. Business education thus becomes useful for managers. It is directly related to the workplace. This kind of environment offers the best of both worlds. And it is certainly not a passive process. Students should know more about their own workplace than anyone else in their learning situation.

Moreover, it becomes a natural transition to move from learning to research.

In the latter, the student identifies problems and looks for ways to solve them.

They become active managers, alert to new issues and to the challenge of constant change.

These are all good reasons why WAL is worth knowing. AIB will not only introduce you to this approach but will set you well on the way to becoming a more effective manager. This is business education at its best.

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S

upported and endorsed by ALARA – the Action Learning, Action Research Association – the Australian Institute of Business (AIB) partnered with the UK's Middlesex University to host an inaugural global conference in Work-Applied Learning (WAL), held in Adelaide recently. Attended by more than 80 delegates from around the globe, the two-day event attracted attendees committed to Work-Applied Learning for Change and related areas in Australia and beyond.

The conference showed how Work-Based Learning (WBL) and WAL results in individual and team learning, including organisational learning and change. It also demonstrated the links between industry, research and education. The conference brought together leading practitioners and scholars who demonstrated the value of learning and application for change in organisations, and how senior managers can empower their leaders to learn, apply and introduce change in their workplace, with the option of undertaking studies leading to undergraduate and postgraduate qualifications.

One of the delegates in attendance was the Vice Chancellor of Universiti Kuala Lumpur, Professor Mazliham Su’ud.

Other delegates included academics from Flinders University, Deakin University and Queensland University of Technology. Senior executives also attended the conference.

“The conference was intellectually stimulating and informative for both practitioners and researchers of Work-Applied Learning. This conference was invaluable in guiding my research,” Lisa Mohammed, a current DBA candidate at AIB, said.

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The Global Centre for Work-Applied Learning The Global Centre for Work-Applied Learning aims to bring together practitioners, scholars and organisations committed to WAL. This meaningful collaboration results in research, industry based projects and publications, all of which will contribute to business and management knowledge and the practice of WAL globally. The centre, as well as being an independent organisation, is also part of the Australian Institute of Business.

The intention of the centre is to:  share ideas about different aspects of WBL and WAL with like-minded affiliates, such as private, public and community organisations, higher education institutions and individuals;  undertake research on WAL, WBL, action research, action learning, case research and reflective practice;  encourage active debate;  publish articles, books and journals, and to encourage joint articles for publication in other journals;  organise and participate in periodic conferences and seminars related to WAL, WBL, action research, action learning, case research and reflective practice;  provide extensive professional development programmes and consulting services; and  provide pathways through our extensive programmes for accredited postgraduate qualifications.

AIB Marketing Director, Joel Abraham, acknowledges that in this global, knowledge-driven economy, individuals and organisations need to continually change through learning in the workplace, thus storing current knowledge and creating new knowledge through products, services and processes.

“This makes WAL (learning through, at and for the purposes of effective work practices and change) a critical factor for success,” Joel says.

“Working on applied learning projects also offers opportunities to equip individuals with essential tools: problem-solving through reflective practice, lessons learnt from accessing and using information, how to self-manage, and how to work with other people for change. These are the kinds of lessons learnt that are in increasing demand in all kinds of work and community activity.

“It is the understanding of these practices that the industry is now demanding of us, and these are the sorts of skills that will almost certainly be required in the future.

Employers no longer want employees that are nearly identical; they demand independent, creative and reflective thinkers. Leaders are needed who can empower their managers and employees to learn, apply and introduce change in their workplace. Employers want and need lifelong learners – WAL provides the solution.”

The Work-Applied Learning for Change conference offered an opportunity for delegates to reflect on their own practices, organisational projects and change processes in the context of concepts and real-life examples.

The Work-Applied Learning for Change Conference will be held annually, with the next conferences taking place in Kuala Lumpur in 2014 and in London in 2015.

CONFERENCE SPEAKERS Emeritus Professor Selva Abraham: Professor Abraham is the Founder Chairman of the Australian Institute of Business. Over the last 40 years, his focus has been on Work-Based Learning, which he has extended into the concept of Work-Applied Learning.

Professor Jonathan Garnett: Professor Jonathan Garnett is the Director of the Institute for Work Based Learning and Professor of Work Based Knowledge at Middlesex University. Jonathan has twenty-one years’ experience at the leading edge of the development and operation of Work Based Learning partnerships at higher education level (Certificate to Doctorate).

Dr Daryll Bravenboer: Dr Darryll Bravenboer is Head of Academic Development at the Institute for Work Based Learning at Middlesex University. He has extensive experience of developing vocational and work-based higher education provision in response to the needs of a wide range of employment sectors in diverse professional contexts.

Tan Sri Dato’ Fng Ah Seng: Tan Sri Dato’ Fng Ah Seng is the Founder Chairman of Epic Valley Holdings Group, a G8 construction company in Malaysia, and undertakes philanthropist work as chairman of charitable foundation Yayasan Muhibah Dato Fng Ah Seng. Tan Sri Fng holds a degree in civil engineering and a Master of Business Administration.

Andrew Cook: Andrew has a wide range of experience in the insurance industry in Australia and is currently one of the principals of API Insurance Services (API). Recently, Andrew championed the use of a fused action research/ action learning approach in order to improve the market orientation of the organisation.

Natalie Holyoake: Natalie Holyoake is a Business Improvement Manager for BAE Systems Australia, and is currently undertaking a research degree at the Australian Institute of Business. For the past eight years she has led a number of key improvement initiatives, with her latest passion being the use of fused action research and action learning as a continuous improvement approach.

Brian Carr: Brian is an experienced chief executive officer having held that role over a period of 30 years across several councils. He is a strategic leader, renowned for rebuilding organisations and resolving complex issues, and holds a reputation for applying a visionary approach to achieve the aspirations of council and its community.

In recognition of his contributions, Brian was appointed a Business Ambassador for the State of South Australia whilst residing in New South Wales.

Biography Ø Alexandra Skinner is CEO Magazine’s Group Editor-in-Chief.

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PARIS SCHOOL OF BUSINESS

As Ernest Hemingway said, ‘Paris is a moveable feast,’ and that statement was never truer than it is today!

Paris has beauty and culture that no city in the world can match.

DESTINATION

PARIS VIA THE WORLD Alexandra Skinner speaks to David Russell at the Paris School of Business Please can you give an overview of the PSB Masters in International Management value proposition?

The Paris School of Business MSc in International Management offers ‘the best of both worlds’ – an outstanding management education, offered in one of Europe’s (and the world’s) most exciting cities: Paris. In addition, the PSB MSc in International Management enables students, if they wish, to study international management in both Europe and Asia, thanks to its partnership with Shanghai Normal University in China and Alliance University in India.

As Dean of the programme, what are some of the challenges that you face in ensuring that the programme curriculum continues to be relevant and up-to-date?

The world of international trade and commerce is everchanging. Keeping up with the latest developments is always a challenge, but our ability to meet this challenge is what sets our programme apart.

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PARIS SCHOOL OF BUSINESS

David Russell

As an International Master’s in Management, students will be looking for 360 degree exposure.

As such, please can you further expand upon the international nature of: Your cohorts: We aim for a student body that is limited in number but highly diverse in background. For example, this year we have 30 students participating in the programme, representing 23 nationalities. It’s a very international group. This is intentional – we want participating students to see themselves as contributors to this very special ‘multi-cultural conversation’.

Your faculty: As students from around the world are attracted to all that Paris has to offer, the same can be said for faculty!

In the first instance, we draw our faculty from a highly

Paris has always been one of the leading European

select group of professionals and academics who interact

centres for advanced education, and Paris is home to

regularly within the worlds of politics and business.

both academics and business professionals of the highest

The programme’s location in Paris gives faculty and

calibre, individuals who themselves come from the four

students access to a wide range of firms and international

corners of the world. This year our programme hosts

institutions – our interaction with these entities ensures

faculty from the United States, Great Britain, France,

that we never lose touch with what is happening in the

China, Germany, and Australia. Very international!

world of business. I would also add that students who participate in the programme are themselves actors in

The school’s pedagogy:

keeping the curriculum relevant and up-to-date. Coming

The ‘spirit’ of the MSc’s pedagogy is one that places the

from a wide range of nationalities and cultures, every year

highest value on providing students with an advanced

our incoming students build upon the ‘cultural capital’ of

understanding of the international business and political

those who came before them.

environments. Course modules are evaluated on how well they develop this understanding of business, and always in the context of the cultural environment in which they operate. Programme faculty meet regularly to discuss the relevance not only of module titles, but of module content.

Paris School of Business participates in a network of multi-national firms and international organisations, based in Paris, which regularly provides guest speakers, internships, and career opportunities to our highly qualified and highly motivated students.

Your international partnerships: PSB decided to offer students the opportunity of pursuing the MSc in International Management in Paris, highlighting the European focus, or in both Paris and Asia.

We are all aware of the great and increasing importance of the Chinese and Indian economies to the world economy.

It is for this reason that PSB has developed close partnerships with outstanding universities in both China and in India. These partnerships enable students to not

We believe that the Asia Track provides students with the ‘plus’ that they need to survive in a very competitive job market.

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only study in these countries, but to immerse themselves in their cultures and economies thanks to company visits, language learning, and internship possibilities.

The MSc includes an ‘Asia Track’, during which students spend one trimester with your partner universities in China and India.

What is the school’s vision for this track?

As mentioned above, the PSB MSc aims to highlight the interconnected nature of the world economy through its

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curriculum. Students participating in the MSc Programme have opportunities that other similar programmes do not offer: experiential learning in both Europe and in Asia. Our vision is to provide opportunities for students to develop hands-on international experience, inside the classroom and outside the classroom, which will equip them to be managers able to function successfully in a wide range of cultural and business situations. We believe that the Asia Track provides students with the ‘plus’ that they need to survive in a very competitive job market.

What can students expect from the experience?

The Asia Track is a blend of classroom and out-ofclassroom learning experiences. Students participate in a structured programme of classes at each partner

Alumnus Experience The MSc in International Management program has been a valuable experience. Taught entirely in English in Paris –one of the most important financial centers in Europe – the courses were challenging and demanded hard work in order to prepare me to launch my international career.

Choosing the Asia Track gave me a real chance to test my limits: experiencing a different culture, learning a new language, and adapting myself to a new way of thinking. Equipped with business skills relating to both the European market and Asian market, the PSB MSc has certainly given me a competitive edge in today’s job market.

Alice Chau, Paris School of Business M.Sc. in International Management alumnus.

university, with each class serving to introduce an aspect of the business and culture of Asia. Furthermore, students participate in company visits, which provide

Saint Germain, to Le Marais – students from around the

them with first-hand knowledge of business practices

world have been enchanted for decades by all that Paris

and conditions in two of Asia’s most dynamic economies.

has to offer. Living, studying, working in Paris these are

During these visits, students have the opportunity to

privileges that should be taken advantage of if at all

interact with local business and community leaders.

possible. Paris is an opportunity not to be missed!

The programme component in China also consists of language learning. Many programme participants have been successful in finding internships in China after their studies, or even in launching their careers!

The number of programmes on offer across Europe is growing! Why should students choose to study the MSc in International Management at Paris School of Business?

How valuable is the inclusion of an international experience to today’s students?

Because there is no other city in the world that can offer

Not only do we feel that an international experience is

and exciting career prospects that Paris has to offer!

the combination of culture, educational opportunities,

valuable, it is increasingly indispensable! Employers are adamant about wanting to recruit recent graduates who can demonstrate an ability to be ‘at home’ almost anywhere in the world. Those students who have a track record of relevant study and work experience in diverse cultural contexts will have a significant advantage in the job market over those who don’t.

As the name suggests, PSB is located in Paris, which is known for being an international centre of business and is fast becoming a financial hub.

What advantages does this offer your MSc students?

Paris ‘has it all’ Paris is the home to many of Europe’s largest and most successful companies, but it is also fast becoming a significant financial centre. Paris has no equal as the centre of the world’s arts and luxury industries, which are a world unto themselves. The city is home to some of the most influential international organisations and NGOs. Such proximity to these companies and institutions gives PSB MSc students access to a range of internships and jobs that cannot be equalled.

What are some of the other benefits that the city has to offer?

As Ernest Hemingway said “Paris is a Moveable Feast,” and that statement was never truer than it is today!

Paris has beauty and culture that no city in the world can match. From the Champs-Elysees, to the Boulevard

Biography Ø David Russell is Dean of the MSc in International Business at Paris School of Business, France.

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THE WOMEN OF THE FUTURE AWARDS

The Women of the Future Awards London, November 2013 achievements of women here and now. The awards give a platform to women whose own achievements show exactly why women with talent must be given the same opportunities as talented men.

Celebrating these women will encourage others to follow in their footsteps, to pursue their dreams, and help inspire female leaders of the future.”

The MBA Star Award

Alexandra Skinner speaks to an MBA Star.

A

leading scientist who worked on the first successful artificial organ transplantation, a 22-yearold musical theatre performer who's starred as Maria in The Sound of Music, and an anti-knife advocate who founded her campaign group at the age of 14 were among the outstanding young women who were shortlisted for the 2013 Women of the Future Awards, in association with Shell.

Supported by patron Cherie Blair, the Women of the Future Awards have recognised many ground-breaking women over their eight-year history, including television presenter and writer Dawn Porter, doctor-turned-entrepreneurial founder of MediKidz, Kate Hersov, and founder of Nails Inc., Thea Green.

Pinky Lilani OBE, founder of the awards, said: “What sets these women apart is often not only their professional success, though they have certainly achieved this, but more personal qualities, such as kindness, compassion and a desire to help others.

“The Women of the Future Awards play an important role in recognising the wealth of talent that the next generation of women possess and presenting them as role models for others.

Their inspiring stories make me confident that they will all go far, becoming the female leaders of tomorrow.”

Cherie Blair, patron of the awards, said: “Awards like this are vital as we work towards a world where women have equal opportunities, because we simply won’t get there unless we celebrate the

When I left school we didn’t have anyone coming to talk to us about starting our own businesses or the concept of entrepreneurship at all.

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The award winners were announced at the Women of the Future Awards ceremony at the London Marriott Hotel Grosvenor Square on Wednesday, 13 November, 2013. Among the award categories were four special awards which were also presented on the evening, starting with The MBA Star Award. This award recognises a female MBA student of exceptional vision, talent and promise.

It is not an academic award; rather, the judges were looking to identify individual stories of current or former MBA students with a compelling life-story and exciting visions for the future.

The winner of this prestigious award was Beth Hepworth. Beth is director and founder of Frontier Middle East and Africa, a research, publishing and advisory firm focusing on economically exciting frontier markets, and which recently received venture capital investment to support its expansion across sub-Sahara Africa and Asia. Beth speaks Arabic and French and has a previous degree in Arabic and Middle East Politics and Economics from the University of Durham.

Described by judges as an entrepreneurial sharp-shooter who’s going places, Beth has turned her passion for the Middle East and Africa into a hugely successful research and advisory firm, providing a vital connection between fast-growing MEA economies and the rest of the world. CEO Magazine’s Alexandra Skinner spoke to Beth, post-ceremony, about her win, her MBA and her future.

Acknowledgement Ø The Women of the Future Awards are hosted by Real Business, in association with Shell.

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THE WOMEN OF THE FUTURE AWARDS

How did you become involved in the Women of the Future Awards?

June this year, we’ve opened an office in Ghana

opposite. I’m sure there are genuine issues

and hired an additional five staff (prior to this

holding some women back but, for me, this

Essentially through Cass Business School,

we were just two directors and one employee),

hasn’t been relevant in my career to date.

which is where I studied my MBA. They had

so it’s really enabled us to go for it.

How does it feel to have won the MBA Star award?

The MBA provided an incredibly good grounding

Awards candidates are invited to become involved in the wider Women of the Future initiatives, such as the Women of the Future Ambassadors Programme. Will you be embracing these opportunities?

across areas I knew I needed help with, such as

Yes, definitely. I think the Ambassadors

It really is a genuine honour against tough

the financial/technical side of the programme,

Programme is really important. When I left school

competition, not to mention a surprise! I

and areas that I didn’t realise I needed help with,

(a wee while ago now) we didn’t have anyone

knew one of the shortlisted candidates well

but which I now think are the most important

coming to talk to us about starting our own

as she is also a Cass alumnus, and so I think

elements of running a business, such as HR

businesses or the concept of entrepreneurship

it must have been a tough job to judge such

and strategy, which has allowed me to place

at all. Schools often point students towards

different candidates who are all pursuing

what we’re doing in a broader context instead of

traditional career paths and I think this is a

very different activities.

getting caught in the trap of thinking it should

shame. The number of young entrepreneurs who

all come from our intuition. I was also fortunate

are successful is really exciting and I think that, as

As part of the entry process, you had to submit your vision for the future.

What did you present?

to be on a programme that had a focus on both

a 17-year-old, it would make me feel less nervous

entrepreneurship and emerging markets. I

about my economic future if my school promoted

undertook two of my electives in South Africa and

this as a real post-education career path. So yes,

At Frontier MEA, we have been lucky enough

Poland, all of which is of significant relevance to

I’m very keen to be involved.

to receive investment this year from the Cass

my current work, and helped me to realise there is

Entrepreneurship Fund, and in order to receive

more to life than the City of London.

nominated one of my cohort the previous year and so I knew about it from following her through the process.

How much of a role do you feel that your MBA has played in enabling you to make the company a success?

this we had to present a very solid idea of where

I’m off to Ghana to assist in getting the

become the pre-eminent specialist provider of

What were the driving forces that led you to pursue an MBA?

business, economic and financial information

I wanted to broaden my understanding. I

on frontier markets around the world. I outlined

set up a business at a very young, relatively

this vision in my entry.

inexperienced age, and whilst it’s hugely

we wanted the company to go – our vision is to

What is next for you?

exciting learning from scratch, you start to

Please can you tell me a little more about Frontier MEA Limited?

realise that a bit of professional development

Frontier is a provider of business intelligence.

that there are indeed no set ways of doing

We do this through a number of platforms, but

things. I chose my MBA programme because

our core platform is the Monitor series. These are

it was a fast-track one year course, so that

subscription websites which source, translate,

meant I wasn’t away from work for too long.

aggregate and originate country-specific

I also chose it because it had a focus on

business and financial news by sector, tenders

emerging markets, and because the

and projects, data and stock market movement,

course content was nicely balanced.

new office up and running, and then we’ll be working out where our next location should be!

Biography Ø Alexandra Skinner is Group Editor-inChief at CEO Magazine.

will go a long way, even if it is to reassure you

as well as a directory of public and private

already, or those eyeing up new opportunities

What do you feel are some of the biggest challenges facing women in business/higher education?

who want to learn a bit more about how the

Probably the ongoing idea

country really works. We already have offices in

that there are ‘challenges’.

Libya and Ghana and the plan is to be in 10 of

I can only speak for

these economically exciting locations within the

myself, but as a woman

next four to five years, building up in-country

who worked in the

expertise through our teams in each office.

Middle East for the

sector companies – using as much information as possible. This is then aimed at investors and business people operating in these markets

last five years, quite

How valuable has the £250,000 investment from the Cass Investment Fund been to your growth plans?

regularly within the

It has enabled us to do what we always

could complain about

intended to do (we have been operating

the challenges I have

since 2009) but lacked the capital to really

as a woman. However,

get growth going. Since the investment in

I have found quite the

construction industry, you might think I

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#LIVING

THE

#Living HAPPIEST PROFESSIONS Thinking of a career change?

Consider one of these professions and you can climb the happiness ladder: 1. Singers 2. Municipal Fire Fighters 3. Aircraft Assemblers – structure, surfaces, rigging and systems 4. Paediatricians – general 5. College Professors – communications 6. Counsellors – educational, vocational and school 7. Managers/Supervisors of animal husbandry and animal care workers 8. Criminal Investigators and Special Agents 9. College Instructors – other 10. Therapists – other Source: Bureau of LaborStatistics, U.S. Departmentof Labor.

Gold(fish)finger

FENG SHUI your way to Calm

According to the principles of Feng shui, decorating your home using greys and whites (metal element colours) will bring about feelings of clarity and preciseness, promote efficiency, and eliminate distractions. If you want to feel more energised, you should use wood element colours, such as greens and browns, which support health, vitality and growth.

Wood elements are also linked to abundance, prosperity and wealth. It’s time to reach for the colour swatches...

A Cup of Joe a Day...

Caffeine found in coffee improves memory and even “protects against eyelid spasm” (for those who are staring at computers all day). It’s also rich with antioxidants and amino acids.

Source: Energy Fiend

The Relaxation Playlist According to a study commissioned by Radox Spa, Weightless by Marconi Union (compiled with the help of sound therapists) is the most relaxing tune in history.

Scientists played it to 40 women and found it to be more effective at helping them relax than a massage or cup of tea.

The top 10 most relaxing tunes were: 1. Marconi Union – Weightless 2. Airstream – Electra 3. DJ Shah – Mellomaniac (Chill Out Mix) 4. Enya – Watermark 5. Coldplay – Strawberry Swing 6. Barcelona – Please Don’t Go 7. All Saints – Pure Shores 8. Adele – Someone Like You 9. Mozart – Canzonetta Sull’aria 10. Cafe Del Mar – We Can Fly

Salary x 2.5 According to Malcolm Gladwell, this is how much more money those who work for themselves would need to earn in order to be as happy working for someone else.

Ever fancied being a 007-style secret agent, but lack the sophistication, the suits and the pen gun? Well, perhaps you can be sated by adopting the dietary habits of the world’s most famous intelligence officer, James Bond, instead. Expecting pure luxury and fine dining?

Think again...

Food: Caviar As seen in: On Her Majesty’s Secret Service.

Film, 1969 Food: Quiche As seen in: A View to Kill.

Film, 1985 Food: Shrimp curry As seen in: Goldfinger.

Novel, 1959 Food: Smoked salmon As seen in: Moonraker.

Novel, 1959 Food: Doner kebab As seen in: From Russia, with Love. Novel, 1957 Food: Eggs Benedict As seen in: Diamonds Are Forever. Novel, 1956 Food: Fois gras and quail’s eggs As seen in: Never Say Never Again. Film, 1963 Food: Cold roast beef and potato salad As seen in: On Her Majesty’s Secret Service.

Novel, 1963 Food: Scrambled eggs, bacon, and strong coffee As seen in: Thunderball.

Novel, 1961 Food: Fried chicken As seen in: Live and Let Die. Novel, 1954 And to wash it all down?

Well, we all know his preference there.

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ONLINE DISCOUNTS

The Dark Side of Online Discounts Companies can profit handsomely from online daily discounts, but intermediaries often have conflicting objectives that need to be managed.

Karan Girotra, Simone Marinesi and Sarah Wachter

I

t's an age-old problem for many retailers, from movie houses to circuses – how to make a profit in off-peak periods. A restaurant that turns away customers on Saturday night but loses money during lunch on Monday.

The opera house hosting a big-name orchestra and superstar diva for a limited engagement, faced with a half-filled house on Tuesday night. The beachfront resort perennially hard up for bookings in early spring or late fall.

A possible solution appeared in 2008, when Groupon started up an intermediary that offerd consumers a way to buy retail services online at a deep discount, provided a certain number of them signed up and used their discount “Groupons” at a designated time.

But recently, the company enacted deep changes to its business model that included getting rid of restrictions on deals. Gone are “activation thresholds” where a deal is “ON” when a certain number buy in, and gone are time restrictions for customers cashing in.

This gives retailers a problem: customers arriving with “Groupons” at peak times, eroding the profitability they might otherwise be getting from full-paying customers. So why is this happening? Because unfortunately, it is in the best interests of Groupon and its peers.

They get a cut when a customer cashes in their “Groupon”; they get nothing if the deal is not “ON” with a group.

A Shakespearean Tragedy “Groupon’s story is almost Shakespearean,” said Karan Girotra, INSEAD Assistant Professor for Technology and Operations Management, talking to INSEAD Knowledge. “It started out as a really hot start-up, and did one of the largest IPOs in Internet history. Very soon it had something like 800-900 clones. Wall Street was in love with it. They said they were going to change the way we get coupons. And then the story became, it’s just coupons by email.

There’s really nothing to it. So this fascinating rise and fall, so-to-say, of Groupon really got us thinking: is this just coupons by email, or is there something different about Groupon?”

Today, the market for online daily discounts is worth billions. But, five years on, little is known about how the benefits of these deals (beyond the end consumer) are apportioned between intermediary and merchant, and whether Groupon is simply offering an e-coupon or something transformational. A new research paper, Operational Advantages and Optimal Design of Threshold Discounting Offers, by Karan Girotra, Serguei Netessine, Professor of Technology and Operations Management, and Ph.D. student Simone Marinesi, found that these deals can offer substantial gains for merchants, but they can be harmful, too.

“It could revolutionise a lot of retail services by addressing the two big issues they face,” Girotra said: the supply-demand mismatch of ‘full in August, empty in October’ syndrome, especially

It’s an age-old problem for many retailers, from movie houses to circuses – how to make a profit in off-peak periods.

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for businesses that face seasonal demand; and covering fixed costs on low traffic days.

Girotra and Marinesi’s research showed that online discounts are a good deal for companies, provided they target their offerings for these low periods. “It’s like happy hour supercharged if you open up the shop only for happy hour,” Girotra said.

Downside of Daily Deals But that’s not necessarily how these deals are currently structured, Girotra said: “They have a dark side to them. And that really is about who is designing and offering that deal,” he said. Coauthor Marinesi explains how these deals often go awry; “Groupon has an incentive to structure these deals in a way that is not beneficial for merchants.

So, for example, Groupon would really like to have all the deals for Saturday evening because a lot of people would subscribe. If you offered me a 50 per cent discount on a restaurant on Saturday evening, this is very appealing to me,” he said.

“Even though they could have designed them so they could have been really good for the merchant, it [Groupon] was designing them largely keeping its own interest in mind,” Girotra said. “That creates this kind of imbalance, between what the merchant wants, and what Groupon wants.”

Design Reboot “Therefore, companies should design their deals with their own interests in mind,” Girotra said. This applies especially to making sure you get the word out to the right audience. “Groupon might not know your customer population as well as you might,” Girotra said.

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ONLINE DISCOUNTS

However, Girotra and Marinesi also discovered that offering daily discounts through services like Groupon can be beneficial.

“Intermediaries do offer an advantage, in particular the knowledge of structuring the deal, and getting the deal out to a large number of people,” Girotra said.

Fattening Up the Bottom Line To determine whether or not online discounting was profitable, the researchers studied data from the Teatro Regio opera house in Torino, Italy. The researchers chose an opera house as a test case, because it exemplifies many of the problems that the kind of retailers face who can most benefit from these deals: high seasonal demand, high fixed costs, and the challenge of filling up a room at off-peak times.

What the research concluded was a qualified ‘yes’: “If designed correctly, these deals have huge potential,” Girotra said. Profit margins in

the test case of Teatro Regio improved as much as 30 per cent, and a minimum of about 6 per cent when the deals were structured with the merchant in mind.

Fine-tuning The art of the daily e-discount is only in its infancy. Already, companies have the means to better target their offerings, which Girotra says merit further study. “Today we have the ability to target our coupons far better than anything else before, contingent upon how many people are coming to buy this, and what days they’re being offered, and that fundamentally can supercharge these deals,” Girotra said.

“If you design the deal correctly, then I think it’s completely OK to use an intermediary to get the word out on the deal. On top of that, I think a small merchant could try to build its own loyal customer base and really start offering deals to them rather than offering the deals through Groupon.”

Biographies Ø Karan Girotra is an Assistant Professor of Technology and Operations Management at INSEAD. He teaches the Identifying New Business Models module, part of INSEAD’s MBA programme, and the EMBA module called Key Management Challenges where classes engage in experimental workshops combining approaches to entrepreneurship and innovation. Ø Simone Marinesi is an INSEAD PhD student. Ø Sarah Wachter is an INSEAD Knowledge Contributor.

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LIST OF CONTRIBUTORS

List of Contributors A

J

Andy Yates Australian Institute of Business

Jack Welch Jack Welch Management Institute Jacksonville University

B Beth Hepworth C Colorado Technical University D Darmstadt University of Applied Sciences Darrell N. Burrell

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K Kent State University L Lancaster University Le Moyne College M

E

MIP Politecnico di Milano Monash University

Emad Rahim

P

F

Paris School of Business

Florida International University

U

G Gianpiero Petriglieri

University of California, Irvine University of the Sciences University of Washington

I

W

IMD INSEAD Knowledge

Willamette University

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