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THE LEADING INTERNATIONAL GUIDE TO EXECUTIVE MBAS & MANAGEMENT EDUCATION

INCLUDES QS TOPMBA CAREER GUIDE

TOPEXECED WINTER/SPRING 2009-2010

Guide

ELECTIVES Giving your EMBA the edge

MENTORSHIP

Emotions and decision-making processes

EXECUTIVE

MBA

A PERSONAL INVESTMENT WORTH CONSIDERING – NOW MORE THAN EVER Covers Spring 09 FINAL.indd 1

SOCIAL MEDIA Real people, real business Featured EMBA graduate

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EXEC MBA CONTENTS

Credits Editor Hina Wadhwa-Gonfreville Contributing Editor Spencer Matheson Features Editor Dawn Bournand Features Writer Ann Graham Production Manager Katy Webster Design Teresa Arevalo Chris Barton Editorial Consultant Ross Geraghty General Production Manager Ed Winder Editorial and sales

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A note from the editors Dear future EMBA participant, While preparing this edition of the TopExecEd Guide, a number of program recruiters told us they are seeing more and more candidates embarking on EMBA programs to “invest in themselves”. Recessions are trying times, occasions some are able to turn into opportunities. Many of today’s EMBA candidates are using this downturn to reassess their careers. Innovation requires time, investment, commitment, and above all, necessity. We’re all familiar with the adage, “necessity is the mother of invention.” Why not apply it and redesign your career? Why do we think recessions are good times to innovate? First, in this climate of budget cuts and uncertainty, investing in yourself sets off the right signal, as many program recruiters we spoke to explained. You can no longer count on your company to think about your career - you need to build it. Second, given the increasing financial obstacles to pursuing an EMBA during a downturn, only the most motivated will be able to jump all the hurdles. This improves the quality of the class experience for those accepted into an EMBA program. Third, and perhaps most important, there is no way but up for those who decide to rebuild their foundations, revise their core skills and acquire new ones, especially during a time of turmoil and reflection in the business world.

Advertisers IFC ExecuNet 2 Viadeo 6 QS World Executive MBA Tour 12 Handelsblatt 16 Bilanz 18 Diversity MBA 22 VDI Nachrichten 26 International Herald Tribune

The focus of the EMBA is leadership - and the landscape of leadership is changing - very quickly.

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An EMBA is a perfect opportunity for those wanting to right some of the business world’s past wrongs, especially as programs change to accommodate these wishes: ethics, CSR, green issues, post-crisis finance, innovative marketing are all specialties on the rise. So: Invest in yourself, diversify your experience, learn, lead! Hina Wadhwa-Gonfreville Editor QS TopExecEd

Spencer Matheson Contributing Editor QS TopExecEd

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The University of Sydney is committed to inspiring innovation in leadership. Having produced global leaders who have impacted all sectors of the community, our continued focus is to shape leaders that step out in front and inspire us all to reach our full potential. If you want to lead. Be First. Learn in the global marketplace Travel to India, USA, UK and France to work in teams with leading businesses. Complete real projects Immediately apply your new knowledge to high level projects, including one for your organisation. Discover new leadership perspectives Explore leadership through alternative views, from military to musical. Emerge more connected Engage in a program built by business for business, designed to give you a competitive edge. 5 x 2 week face-to-face modules over 18 months

Discover how

www.usyd.edu.au/FirstEMBA

First. Global Executive MBA


EXEC MBA CONTENTS

Contents

TopExecEd Guide

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The Executive MBA alternative A personal investment worth considering – now more than ever.

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EMBA sponsorship in the current economy Current economic conditions lead to a new breed of self-inspired EMBA participants.

10 Investing in an Executive MBA It’s not just about financing your program - it’s about investing in yourself.

14 The role of mentors in the Executive MBA A rewarding partnership that enhances your learning.

17 A look at the world of social media Should your Facebook account be used for personal or professional use?

21 The Executive MBA and the interview process The most intimate and intimidating part of the application process. Everything you need to know.

24 ESCP Europe Emotions and decision-making processes in management teams – an insight for managers.

28 Women & the Executive MBA Many women are taking the plunge. Will you join them?

32 Interview with Edward Buckingham, Director of Executive MBA programs, INSEAD The future for women in EMBA programs and in management is bright.

35 Featured EMBA graduate Isobel Leaviss, University of Chicago – Booth School of Business alumna shares her EMBA experience with us.

37 Electives - Giving your EMBA the edge Tailor your EMBA to suit your needs and stand out from the crowd.

40 EMBAs in the United States First in a series of regional focuses to come.

62 Statistical review An at-a-glance comparison of EMBA programs from around the globe.

Program profiles 42 43 44 45 47 49 50 52 54 55 57 58 59 61

Cranfield School of Management ESC Lille ESCP Europe George Washington University HEC Executive MBA HECTOR School of Engineering & Management/ University Karlsruhe IE Business School IESE Business School INSEAD Kellogg-WHU Executive MBA Melbourne Business School Moscow School of Management SKOLKOVO Open University TRIUM Global Executive MBA

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EXEC MBA WHY EMBA?

The Executive MBA Alternative By Hina Gonfreville, Editor, QS TopExecEd

In spite of the current economic climate, the EMBA remains an instrument of choice for both participants and employers, ensuring both accelerated personal and professional development, as well as enhanced corporate performance.

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the eyes of executives from diverse industries, contains over 80% company sponsored argeted at senior managers and younger functions and cultures. As Arnold Longboy, participants, so there still seems to be a strong executives on a fast-track managerial Director of Executive Education and Student case for the value an EMBA can bring during career, the Executive MBA has been Recruitment at the University of Chicago Booth crunch times. It may be seen as a cost-effective the growth area of management education in School of Business (Europe) says: “It’s like means of benefiting from ongoing ‘consultancy’.” recent years. Until 2008, demand had having 87 free consultants looking at a problem Other programs have seen a sharp rise in interest consistently risen and a number of business – not to mention the expert professors!” from entrepreneurs or small and medium schools have launched, or are in the process of The smartest executives will use the enterprise (SME) executives. Hannelore launching, new programs: Cambridge Judge, recession as a chance for introspection and Forssbohm, Program Manager of the KelloggGeorgetown/ESADE, George Washington, reassessment of their careers as well as the general WHU Executive MBA believes that an EMBA HEC, Hong Kong University/Columbia/ direction their lives are taking. “The credit is a sound investment, now more than ever. London Business School, Skolkovo, Swiss crunch will force everyone to really focus on “Applicants want to be prepared for new job Finance Institute, Thunderbird, to name but a reinventing themselves and this, few. With alliances or strategic in and of itself, will make all academic partnerships, business prospective and current students schools are catering to an “The smartest corporations will continue to invest in more well-rounded and in the increasingly savvy, demanding and in-house talent to foster innovative thinking and most end more employable. The goal internationally mobile audience. of each program should be to importantly, leadership and decision-making skills.” allow each participant to think in Sustained demand an entirely new way in regard to Current economic turmoil has had business opportunities, markets, a direct effect on executive value, strategy and innovation,” says Fordham’s challenges and imminent changes,” she says. If programs due to expected training budget cuts Francis Petit, Assistant Dean and Director of anything, the quality of candidates is on the rise, and decreasing corporate sponsorship. However, Executive Programs. as in tough economic times, only the most the smartest corporations will continue to invest serious and motivated candidates will jump in in-house talent to foster innovative thinking over the financial hurdles to see their EMBA and, most importantly, leadership and decisionBack to basics part 1 – EMBA what, project through. making skills. Such skills are vital to effectively, how, when? In effect, the benefits of an EMBA program and efficiently, manage in complex and unstable The Executive MBA is a fully-fledged MBA are felt immediately as participants continue to environments. EMBA professors stress the program for experienced managers who are work full time and focus on their careers, importance of acquiring the ‘helicopter view’ either already in top positions in their bringing back new skills and knowledge that they learning to see things in the larger perspective. organizations or aspiring top managers. Most put to use as they go through the program. As a result, programs have a stronger focus on EMBA programs require participants to have a Moreover, case-studies and group work often CSR and ethical business practices, innovation minimum of five to six years of managerial require participants to share and collectively and strategy, as well as leadership and soft skills. experience; EMBA classes often have age ranges reflect on personal experiences. This means that Rebecca Brown, MBA Marketing Manager at of 30 – 50+ years. The rich diversity of crossa problem is analysed from different angles, with Ashridge Business School says: “Our latest intake functional and cross-industry experience in the 4

TopExecEd Guide www.topmba.com/emba

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EXEC MBA WHY EMBA?

classroom, in addition to the expert professors, are key benefits of EMBA programs. Participants gain insight from the wide and varied experience of their classmates, not to mention the invaluable networking opportunities. Executive MBA programs are designed to fit the needs and schedules of working professionals; they are not part time programs, but rather intense programs compressed into reduced time-frames. Course delivery formats vary, so it is essential for candidates to anticipate how they will manage their absences, putting into place support systems, both at work and at home. Delegation is key as is getting buy-in from one’s company, colleagues and family. This support is vital to an individual’s success in an EMBA program and will ultimately help alleviate the stress generated from an intense schedule. All program recruiters emphasize the necessity of a sound support foundation, especially for women. Many programs have special women’s mentoring groups encouraging women to discuss the EMBA experience before embarking on a program. “We’ve found that it’s

women have successfully faced the EMBA challenge, whilst caring for their families and being just as active on the career front. Knowing that someone has been through such a demanding effort - and survived - puts everything into perspective, making that highly sought after EMBA qualification seem more achievable. Global programs are en vogue, with an increasing number of dual/joint programs delivering courses in week-long modular segments. This is expected to attract participants from both a regional and international level, adding to diversity and international exposure. Gustavo Vasconcellos, Finance, Treasure and Planning Manager at Drogaria Araujo S.A. in Brazil was a participant of Emory University’s Goizueta Business School’s modular EMBA. “While living in Brazil, Emory’s modular EMBA best fit my needs. The group online discussion during the distance learning part of the modular format made me feel as if I were in the classroom. I was impressed at how I was able to finish my MBA in a top-ranked school living so far away.“ As more and more EMBA participants cross

useful to connect female applicants with current female participants who are in a similar situation, so they can discuss the pros and cons of enrolling on an EMBA whilst juggling work and family commitments,” says Rachel Waites, Associate Director of Corporate and Student Recruitment, University of Chicago Booth School of Business (Europe). Women participants often report that it is particularly helpful to know that other

frontiers, online tutorials, groupware, simulations and virtual group assignments all play an important role in the learning model. Participants benefit from top-of-the-scale online platforms that they use not only to prepare courses, follow e-modules or participate in online discussions, but also to keep in touch with each other and program staff. At IESE Business School, a large proportion of participants on the Global

Executive MBA (GEMBA) program are living in a country that is not their country of origin. Brook Hardwick, Associate Director of Admissions and Marketing for the IESE GEMBA program says: “For them, technology is crucial to enable them to work remotely very quickly, and extrapolate the EMBA model into their professional lives.” EMBA participants from non-business backgrounds greatly benefit from pre-EMBA modules that introduce them to the different core courses, whilst others find it useful to refresh their memories on certain subjects. In this way, the class discussions are rich and focus more on real in-company challenges that participants face on a daily basis – a fundamental difference to full time MBA programs that by definition have younger, less experienced participants.

Back to basics part 2 – why EMBA? What is the driver that has sustained the demand for the Executive MBA? After all, the program requires a considerable investment of time and money from both employer and employee. For

IESE Business School’s EMBA alumna Ana Paula Reis, General Manager at Selplus, a company specialising in sales management services, the impact of the program was felt immediately. “I am amazed at how much I learnt in the first week alone. It has changed my view on business and the way I look at the world. I’m making some changes to my company as a result. It is one of the best experiences I’ve ever had – seriously.” TopExecEd Guide www.topmba.com/emba 5

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EXEC MBA WHY EMBA?

benefits of the Kellogg alumni network for a special format specifically designed to Participants walk away from each class with lifetime. I feel that the network has really opened accommodate the “Executive Mum”: classes immediately applicable skills and knowledge, as doors for me.” At ESCP Europe, alumni can sign meet one day per week and online learning plays well as a holistic approach to understanding and up for post-MBA electives to continue to refresh an important role over the 18-month program. solving business problems. Professionals and and improve their management skills throughout Bernadette Conraths, Director of the Kelloggexperts from other industry sectors also gain from their entire professional life and make contacts WHU Executive MBA, says the school is looking the general management skills reaped from the with current participants. into creating a family option for the program’s EMBA experience. As Dr Patricia Geller, EMEA For the majority of Executive MBA weekend modules. Spouses and children will be Development Manager for Abbott GMBH participants, the intense explains: “Coming from schedule is just part of medicine and natural the trade-off that sees science, the program “More than ever, an EMBA is a sound investment. Applicants want them able to earn more helped me to get the and move ahead, theoretical background to be prepared for new job challenges and imminent changes.” without interrupting to match my their careers. Behind the responsibilities as a growing level of selfmanager in an funding lies the fact that career development and able to accompany participants, driving the international biotech company. The financial returns can be significant. family buy-in component even further by giving heterogeneous international class and professors The Executive MBA Council’s latest survey them the opportunity to become a part of the broadened my view of cultural aspects in results show that students’ salaries rose from EMBA experience. business and helped me to develop personally.” US$117,617 to US$144,361 upon completion of Class experience and networking Health professionals, public sector the program (23%). Meanwhile, 39% of opportunities also play an important role for executives, as well as participants from NGOs, graduating EMBA participants are expecting a EMBA participants. Alumni continue to benefit SMEs, family-run businesses and entrepreneurs promotion, whilst 43% actually received a from the networks they forge years after graduation, are adding to the diversity of today’s EMBA promotion during the program. So it seems that some even going as far as setting up companies or classrooms, enriching the cohort experience. as long as there are individuals seeking to invest in working on business ventures together. As KelloggMore and more EMBA programs are also trying themselves, redesign their careers, confront their WHU alumni Pierre-Yves Rahari, VP, Head of to attract women by modifying course delivery, limits and push their boundaries, the EMBA is Shareholder Services, PIMCO Europe Ltd, puts for example. HEC Executive MBA in Paris here to stay, crisis or no crisis. it: “As an alumni, you continue to receive the illustrates one such initiative by developing a

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EXEC MBA sponsorship

EMBA sponsorship

in the current economy By Spencer Matheson, Contributing Editor, QS TopExecEd

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orporate sponsorship of EMBAs has dropped as a result of the contracting economy—almost all universities are reporting the same trend. Some have even reported no-shows from admitted students – mostly from the financial sector – who were unable to secure loans or corporate support. “The number of applicants is slightly more than in previous years, but the number of people who are putting their final decision on hold has risen slightly. Both applicants and companies are holding off for about three months to see if their prospects improve,” says RSM’s Ken Robertson, Director of MBA Marketing and Admissions. Unfortunately, when many companies cut what they see as “costs”, they forget that they are actually mortgaging their enterprise’s future. Corporate educational reimbursement

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programs are an easy part of the budget to reduce, but one which companies cut, as Geoff Colvin pointed out earlier this year in Fortune magazine, at their own risk. In an article entitled “How to Manage Your Business During a Recession”, Colvin advises: “Keep investing in the core. For virtually all companies, a critical part of the core is the continual development of employees. Yet it’s remarkable how many businesses cut training and development in a downturn. The best never do.” The unfortunate short-term perspective of some public companies is also playing a role in the decrease of corporate sponsorship. In addition, certain taxing authorities have become more aggressive and have caused confusion and uncertainty about the value of educational benefits being included in an employee’s income. On the upside, some

companies do seem to have learned their lesson when they cut back too far in the 2001 downturn.

Changing trends The current decrease in corporate sponsorship must also be seen as having been catalyzed by the recession, but also part of what is really a bigger trend, one which EMBA programs have been feeling for years now. Where, on average, ten years ago one in three students were selffunded, today, on average only one in three are sponsored (one in three are self-funded, and the other third has some mix of sponsorship and self-funding). Aggravating the trend is the fact that, with many people out of work, the opportunity cost of full-time education is lower, so more people are looking at full-time study instead of EMBAs.

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EXEC MBA Sponsorship

The long-term trend of reduced corporate funding is due to several factors. First, people simply change jobs more often than they used to. As Tami Fassinger, Associate Dean of Executive Programs at the Vanderbilt Owen Graduate School of Management says: “The average exec will change jobs seven to ten times and the younger generations have an even greater spirit of portability, so the new EMBA programs that are hybrids (execs mixed

just let them down. Tami Fassinger, Associate Dean of Executive Programs at the Vanderbilt Owen Graduate School of Management advises: “I tell students to take out government loans and work with their employers on a wait and see basis – ‘if you like what I am bringing to the table with these new skills, incent me (pay me) to stay, which will help pay off the loans.’” Happily, all is not gloom and doom and

with working professionals who are younger) have more people in this category.” It’s understandable then, that companies are increasingly reticent about making an investment that looks more and more likely to pay off for another company altogether, perhaps even a competitor. From the candidate’s point of view: “There is less corporate support for such programs and thus, candidates interested in such programs, are pursuing them as a result of intrinsic motivation. They want to get these degrees for themselves and not necessarily for the company,” as Francis Petit, Assistant Dean and Director of Executive Programs and Adjunct Associate Professor of Marketing at Fordham University, puts it. As a financing alternative, many EMBAs recommend that students turn to federal education loan programs, which provide a good safety net at a time when corporate educational reimbursement programs might

some counter-trends are softening the negative impact on some EMBAs. Indeed, many schools are seeing the expected decrease in applications compensated by a large increase in participants from SMEs. As Nick Barniville, the MBA program director at UCD Smurfit says: “More and more students are coming from small and medium-size enterprises, with the number of entrepreneurial start-up clients continually increasing. There is a significant trend towards self-funding and away from company sponsorship. Also, some hope that class quality will increase as only the most motivated candidates stick with their decisions.” The other effect of the recession, and decrease in corporate sponsorship, is the flight towards programs which are perceived to provide better value for money. Francis Petit, at Fordham University, a notable example of a program benefitting from its reputation at present, says: “Some students are attracted to

our program tuition. While it is not the most expensive or inexpensive program in our market, some prospective students see real value by our tuition. As a result, some tuitionsensitive students and/or “price buyers” may find our program, and other programs, as a potential alternative.”

Now is the time to invest As Dr. Ron D. Ford, Associate Dean for

Executive Education at the Graziadio School of Business and Management at Pepperdine University says: “Many companies continue to understand that in the new economy, intellectual capit al is a tremendous competitive advantage and those companies wisely invest in their talent. Executive education is not only essential to the strength and growth of firms, it is an invaluable retention tool for a firm’s best performers and high-potential people.” Dr Ford believes there are three main lessons to keep in mind as companies and EMBA candidates figure out their strategies for getting through the recession: 1. Employers should recognize that intellectual capital is the key to their future. 2. Contracting economies are the ideal time to invest in their greatest asset (talent). 3. Students should recognize that investing in themselves has a very high rate of return. TopExecEd Guide www.topmba.com/emba 9

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EXEC MBA Financing

Investing in your

Executive MBA By Dawn Bournand, Features Editor, QS TopExecEd

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he Executive MBA provides graduates with greater strategic vision and skills that can be immediately applied to their current position; this in turn can benefit leadership development and result in a higher salary. Along with this progression is the opportunity to immerse oneself for two years in a stimulating and rewarding learning environment. Recent surveys show that the actual payback period for an EMBA has been reduced from 28 months to 23 months over the past year, despite the fact that program costs have risen from $57,954 in 2007 to $62,905 in 2008. It also took less time for students who funded their own education to enjoy a return on their investment: 45 months in 2008, compared to 52 months in 2006. An increasing number of students are selffinancing their studies with the proportion of students paying their own way increasing from 25% in 2003 to 34% in 2008. Meanwhile, the number of organizations offering students full reimbursement in 2008 was 32%, down from 40% in 2003. That said, business schools expect, at the very least, to see companies supporting their employees, allowing them to take time out for study and recognizing the additional workload that they face.

Putting theory into practice Most employers understand the major benefits they can receive from having an employee with improved managerial and leadership skills, not to mention the reinforced loyalty of sponsored EMBA participants. Courses often give students the opportunity to put into practice the theories they have learned in class 10

immediately. As Charles Galunic, Dean of INSEAD’s Executive MBA Program and Professor of Organizational Behavior explains, “Due to the modular format of the program, EMBAs are able to take their ideas from their course straight back to the workplace so that they can learn by doing. Their workplace becomes their laboratory and we provide assignments that give them opportunities to implement and use the ideas they are gaining concurrently in the classroom.” The company not only benefits from a direct return on investment from the rich course content, but also sees the increased confidence and broader communication skills the employee brings back after each module. This prepares the ground for new responsibilities, not only for the EMBA participant preparing for the next level, but for the organization developing healthy succession planning within. Interestingly, Executive MBA students foresee these benefits, but underestimate their power. According to the Executive MBA Council, 37% of students exiting an Executive MBA program expected a promotion – 43% were actually promoted. Not only that, but once promoted they are more likely than graduates from other programs who received a promotion, to report an increase in their budgetary authority, according to the 2007 GMAC Global Graduate Survey.

A win-win proposal Joan Coonrod, Director of EMBA Admissions at Emory University’s Goizueta Business School stresses that EMBA programs can play a powerful role for companies by helping them step up their retention efforts. She asks

companies to reflect on the development paths available for top performers. “Offering a top Executive MBA program as part of a menu of leadership development experiences is a really powerful retention strategy. It’s interesting that executive recruiters tell us that companies that do invest in this way to build their leadership are well-known, and are consistently more successful in attracting top talent,” she says. Brook Hardwick, Associate Director of IESE’s Global Executive MBA program, advises future participants to get their companies on board as soon as possible, and to find somebody within the organization – a mentor or a supervisor – to provide support. “Your company will have to feel like your partner in this process, so focus the argument for pursuing your EMBA not just in terms of the lifelong network you will be creating for yourself, but also the immediate impact that the program will have on your ability to view business issues - read the bottom line, see things from a global perspective, and help your company grow.” In essence, the EMBA program becomes a tripartite partnership between the school, the EMBA participant and the sponsoring organization. According to current Ashridge EMBA student Chris Parker, there are strong arguments in favour of a company spending a figure of around £30,000 on sending a senior manager to an Executive MBA program. “This is the sort of money that might be spent on getting consultants in for a fortnight, but the short term benefits from something like that are far outweighed by the long term benefits that a manager with an EMBA can deliver to a company, in terms of enhanced management knowledge and

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EXEC MBA Financing

experience from practical assignments.” Many schools such as IESE and INSEAD provide assistance to strong applicants on how best to present their case to their employers, and enumerate the advantages of the program to the organization to turn the project from ‘cost’ to ‘investment’. Fordham’s Director of Executive Programs, Francis Petit, says he strongly believes that the EMBA is a sound investment regardless of the economic climate and financial environment. “The goal of each program should allow

candidates to think in an entirely new way in regard to business opportunities, markets, value, strategy and innovation. This “personal discovery” can be applied to a student’s career well beyond graduation.”

The benefits beyond Promotions and increased earnings are just one side of the coin. An EMBA also allows students to start ‘looking around with a new set of eyes’ according to Gabriel Mesquida Masana, an EMBA student at Henley Business School.

“You start seeing things that weren’t there before and thinking of new solutions to old problems: from operations to strategic management. In my case there was a star subject: managing people. I’ve been given more responsibility and more complex situations to manage. I’ve seen my self-assurance grow, along with skills and abilities. I’ve grown professionally,” he says. In Germany, Human Resources Departments and corporate decision-makers perceive the Executive MBA program as an TopExecEd Guide www.topmba.com/emba 11

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EXEC MBA Financing

additional strategic component of retaining high potential managers. Those participating in an Executive MBA program receive increased support from their organizations, both financially and in terms of allowing students time away to follow modules. “The number of self-sponsored EMBA candidates is not significantly higher at Kellogg-WHU, but co-sponsoring (between the student and the company) is growing, as firms encourage employees to share the responsibility for their career development,” says Bernadette Conraths, Head of Kellogg-WHU. As is the case with many other top business schools, each Executive MBA candidate at INSEAD must have corporate endorsement to get his or her application package reviewed by the Admissions Committee. For the school this means the employer believes the candidate would benefit and thrive in the EMBA program, and acknowledges the necessary time commitment he or she needs to complete the program. Edward Buckingham, Director of the Executive MBA Programs at INSEAD, explains. “Companies often approach us to discuss talent management, retention and succession planning and use the EMBA as a way to assess, retain and promote managers. This is especially true for those companies facing talent shortages and also in technical sectors such as energy.” The decision to make a serious

18-24 month commitment – from the admissions process to managing an overbooked agenda, bosses’ expectations as well as respecting family commitments – goes far beyond rising compensation packages. There is much, much more to the EMBA adventure: an incredible learning experience, a stimulating environment and the chance to meet people from all corners of the globe with rich, diverse backgrounds – people who form a network with whom participants can keep in touch years after completing their programs. All of the EMBA alumni we spoke to would whole-heartedly relive their EMBA experience without changing anything, and as the EMBA Council reports, a spectacular 84% of EMBA students would uncategorically recommend the EMBA as the ideal launchpad for rising

executives ready to take on a new challenge and upgrade their career paths. Perhaps Rachel Killian of Warwick Business School sums it up best: “When the economic climate is tough and unemployment is high, then the best investment people can make is to invest in themselves.”

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EXEC MBA Mentorship

The role of mentors in the Executive MBA

O

ver the past decade ambitious managers and professionals have increasingly been encouraged to find and make use of the services of a mentor. In many cases these relationships are developed on an informal basis, but in others they are part of organised programs such as the scheme at the consultancy firm McKinsey & Co, which allocates a mentoring partner to every new consultant. However they are structured, their aim tends to be the same – to provide an environment where a highly experienced individual can provide a sounding board for the aspirations of someone at an earlier stage of their career. Because participants in an Executive MBA program will almost certainly have a fair number of years in the workplace under their belt before commencing their studies, they may already have a mentor or be in the process of seeking one. So what part does, or should, a mentor play in the EMBA process?

Schools take the lead At the Nyenrode Business Universiteit in the Netherlands, EMBA program director, Pablo

14

Collazzo, takes the view that the school itself becomes a mentor to participants right from their first point of engagement. “Although we are a relatively large school we’ve tried to create a very personalised, one-to-one application process which allows potential participants to test whether the experience and the environment are going to be exactly right for them. If an individual already has an external mentor we certainly don’t discourage their involvement, but we regard it as our responsibility to provide an honest ‘sounding board’. We want to make sure the ‘fit’ is right

main point of contact throughout the program, but in effect they are drawing on the resources and experience of all the major companies, such as KLM, which founded Nyenrode and which have remained heavily involved with it ever since.”

Expert guidance At another top European institution, HEC near Paris, associate director for the EMBA, Gerard de Maupeou, takes a similar view of the mentoring role of the school. “EMBA participants tend to be much more

“The relationship is definitely not that of teacher and student – it’s more like that of colleagues.” so we try to ensure that we are as objective and unbiased as possible.” According to Collazzo this positioning of the school as a mentor is equally important once the EMBA begins. “Every participant works with a single

experienced than their counterparts on a conventional MBA program. People at this sort of level need to be guided rather than taught. We therefore provide them with tutors - mentors under another name - who are even more experienced than they are – members of our adjunct faculty or alumni who have been through the process already. The relationship is definitely not that of teacher and student – it’s more like that of colleagues. The more experienced partner is there to provide guidance, to help participants with points of difficulty, to challenge their findings and assumptions, in effect helping them to find the answers for themselves. You could say that it’s one set of experts working with another.” Professor de Maupeou also points out that, to get the best out of the relationship, the participant needs to proactively manage their mentor. “The mentor won’t chase you to make sure you’ve done what you’re supposed to in the way your schoolteacher might have! Most of them have very responsible jobs of their own so it’s essential to make best use of their time in the same way you would if they were a classic

TopExecEd Guide www.topmba.com/emba

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EXEC MBA Mentorship

external mentor.” HEC alumnus, Sebastien Martin, underwent the mentoring process as an EMBA participant and now acts as an external partner himself. “I took the EMBA rather than a traditional full-time MBA, even though at 34 I was relatively young at the time, because I wanted something very practical which would help me make a move into senior general

management. And it seems to have worked. Before the program I was CFO at a division of Reuters whereas now I’m MD of In-Fusio, a mobile games company.” He sees his role as supplying advice and challenge and believes that getting the right mix of personalities in the relationship is essential. “Whichever side of the partnership you are on you have to feel comfortable with it. And that doesn’t mean you

have to be great friends – it’s more about trust and respect. If those factors aren’t there then you need to find someone else to work with.”

International mentors Across the Channel, at the UK’s Warwick Business School, a loose mentoring arrangement that has been running for several years, is now being piloted as a formal scheme to bring together students and alumni. Launched in January this year the scheme has quickly been over-subscribed and the school is now actively recruiting more volunteer mentors from the ranks of its past graduates. “Because of the diverse range of people we attract, the scheme has to be able to work on a truly international basis,” says Tracy Lynch from the schools alumni relations department. “Most of our current mentors are based in the UK, but the mentees are based all round the world from Canada to India, France to Malaysia. To make it work we’ve tapped into one of the school’s teaching aids, wbsLive, a highly interactive video conferencing facility. This helps to sustain the all-important personal aspect of the mentor/mentee relationship.” So what do those involved in the

“Effective mentoring isn’t about telling someone what to do.” Warwick scheme believe makes mentoring work? “Perhaps this is stating the obvious, but it’s essential that you have the right sort of individual acting as a mentor,” says Peter Summerfield, the Warwick alumnus who was one of the driving forces behind the pilot. “They need to have a strong desire to help others, they need to want to keep learning and to pass on that learning and they need to have the ability to listen and reflect. Effective mentoring isn’t about telling someone what to do, sometimes you do much more good by being still and quiet.” For mentee, John Hannigan, it’s also vital that those on the receiving end of help and advice approach it in the right way. “You have to really want to make the most of your mentor’s experience,” he says, “and you have to be prepared to commit to a relationship based on mutual trust, respect and integrity. Always remember that this should be a partnership of equals. When mentoring works well it should be fun and rewarding for both parties.” TopExecEd Guide www.topmba.com/emba 15

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EXEC MBA social media

Will the bubble burst? A look at the

world of

social media By Ann Graham, Features Writer, QS TopExecEd

Social networking sites – they’re the latest craze to hit the internet, but just how long will it take until the bubble bursts? After all, many employers have already banned Facebook during the hours of 9am-5pm and surely we want our politicians to work on policies rather than updating us with tweets?

A

ccording to some experts, Facebook, MySpace, Bebo, LinkedIn and Twitter are all here to stay. What’s more, there are new sites on the horizon. It seems the only way to beat the social networking phenomenon is to join it! “It’s now clear that social media groups are a reality on the web and have a real impact on day to day life,” says Edouard Dinichert, Head of Media Sales at 24/7 Real Media (WPP Group), France. “It can be either professional (LinkedIn,

Viadeo, Xing) or personal (Facebook, MySpace, Twitter, Bebo) - the interaction is real. Newsgroups have been growing as well, providing real contributions to specific needs. Social Media Groups are not just limited to informal links – they’re also used on an intellectual level for concrete actions such as meetings and lunches,” he says. Hervé Bloch, Regional Manager of Emailvision, Central & East Europe agrees. “The social media field is growing very fast. Five years ago it was only a happy few; three years

ago only teenagers used it, but now it is a serious community. Politicians use it to manage voters, brands use it to seduce consumers, companies use it to recruit – there are a lot of new usages. Facebook started as just a little tool to organize dates among friends, now it is a powerful tool to socialise the world”.

Facebook, LinkedIn and Twitter On its homepage, Facebook states its mission: to give people the power to share and make the world more open and connected. So far, more

“Facebook’s fastest growing demographic is those aged 35 or older – that’s a similar demographic to the EMBA classroom breaking the myth that Facebook is the exclusive realm of the iGeneration.” TopExecEd Guide www.topmba.com/emba 17

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EXEC MBA social media

identifies itself as a service for friends, family, and co–workers to communicate and stay connected through the exchange of quick frequent answers to one simple question: What are you doing? But if you already text, instant message, email, or call people, why do you need to tweet as well? Twitter answers that question: because even basic updates are meaningful to family members, friends, or colleagues—especially when they are timely: • Eating soup? Research shows that mums want to know • Running late to a meeting? Your co–workers might find that useful • Partying? Your friends may want to join you

Personal or professional?

than 250 million people are uploading photos, posting messages, joining groups and finding friends through the power of Facebook. According to statistics on the site’s Press Room, more than 120 million users log on to Facebook at least once a day; the average user has 120 friends on the site; more than five billion minutes are spent on Facebook each day worldwide; about 70% of users are outside of the US; and the fastest growing demographic is those aged 35 or older – that’s a similar demographic to the EMBA classroom, breaking the myth that Fa c e b o o k i s t h e exclusive realm of the iGeneration. The more professional of the social networking sites is LinkedIn. Head to its homepage and LinkedIn will tell you it is an interconnected network of experienced

professionals from around the world, representing 170 industries and 200 countries. You can find, be introduced to, and collaborate with qualified professionals that you need to work with to accomplish your goals. In the education sense, it is particularly useful for building a relationship with admin officers, course tutors or alumni

Should you really be using your social networking profile to communicate to colleagues as well as organize parties with your friends, or should you manage two accounts – one for professional use and one for private? After all, media have reported on the number of employers looking up potential hire’s Facebook account to get a real picture of what they are like. Dinichert says individuals need to find a balance between using social media sites for professional and personal use, but there are ways to split the two. “Some tools are really professionally oriented and should be used as such, others need to have boundaries – it depends on the sector you are working in. It is common to witness discussions nowadays and watch people saying that you should be the same at work and at home. Some people will then say that mixing the two is proof of spontaneity and truth – it really depends on what you want to express to others as well. Either way, keep in mind that limits are required.” Bloch believes individuals can use social media sites for both professional and personal use but they have to be careful of ‘virtual trace’. “ Yo u use Facebook for fun and you don’t pay attention, but colleagues and managers see your profile and especially your friend’s tagged photo. You use LinkedIn, Viadeo or Xing to develop your career visibility, but using Facebook for professional use and LinkedIn for personal use can be dangerous,” he says.

“If you are looking for a new position, don’t poke on Facebook. If you are looking for a girlfriend, don’t use a LinkedIn introduction.” to get tips on student life as well as how to get through the dreaded interview stage. Then there is Twitter, the social networking site favoured by Barack Obama, Stephen Fry and Demi Moore. Twitter

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EXEC MBA SOCIAL MEDIA

“Each of us must manage our profile according to our aims and goals. If you are looking for a new position, don’t poke on Facebook. If you are looking for a girlfriend, don’t use a LinkedIn introduction.”

Social media and corporates However, the lines are becoming increasingly blurred as more and more corporates and companies turn to the social networking site tool. Marcos Angelides, Social Media Strategist at QS, organizers of the QS World MBA Tour and World Executive MBA Tour, has experienced a change in marketing practices over the last 12 months with the advent of sites such as Facebook, LinkedIn and Twitter. “Social networking is just that – social. No matter how influential an organization is, dreary B2B campaigns won’t work here, users don’t have the time for them. As a result, companies have had to innovate and converse with users as a user themselves. This has led to many branding headaches as conventional corporate identity had to be thrown out to allow for personal, candid representation.” Angelides says the risk companies have taken has paid dividends to those that have done it properly, although it has come at a cost to the industry. “It almost single-handedly ended the market research industry. Why employ consultants to lead a consumer group of 20 when you can talk directly to 20 million? If you want proof, Cadbury’s hadn’t even considered bringing back a favoured chocolate bar, Wispa, until over 20,000 UK Facebook users joined a group demanding its return.”

approaches and philosophies,” Dinichert says. “They can also analyse the activity and involvement of the alumni association and school messages, for example.” Candidates can also evaluate the effectiveness of networking or job opportunities that are critical in influencing t h e c h oi c e o f p r o s p e c t i v e E M B A participants. After all powerful networking is part of what gives the degree its edge. Dinichert says for the entrepreneurial EMBA candidate, they must use social networking sites as a showroom, an aggregator that can bring potential partners without spending too much time on a day to day basis.

platforms may take market share.” It is these new platforms that users, and observers, should watch, says Angelides. “The bubble won’t burst, but it will change subst antially. There is such a growing number of networks that people are starting to get lost within the rubble - sooner or later a one-for-all sign-in will be developed (Facebook have tried it with Facebook Connect - but the jury’s still out). Once this happens, networks will lose identity and there will no longer be a distinction between different URLs. By this I mean there are so many websites that have forums, blogs, profiles, photos, digs etc that social networks aren’t so much a tool within the internet - they ARE the internet. Pretty soon the worldwideweb will just be one big network to post on, and God help us all when Ashton Kutcher finds out!” Fo r m o r e information on how social networking sites can help your EMBA studies, see our article “Social Media and the EMBA” on www.topmba.com/emba

“Remember, it’s real people, real business and it’s exploring today’s best advantages of our generation – the world has never been offering that much openness since its creation.”

Social media and the EMBA

So how does the EMBA candidate utilise these social networking sites? “Candidates can use social groups to meet alumni and underst and EMBA 20

“Remember, it’s real people, real business and it’s exploring today’s best advantages of our generation – the world has never been offering that much openness since its creation,” he says.

Will the social media bubble burst? “No it won’t,” says Dinichert. “Some sites will suffer but the basic principles will remain. As long as it invites people to stay active contributors, the strength of these will be real. To me, Facebook has a long great story ahead of it – as long as they succeed in staying in line with people’s expectations and values.” Bloch echoes Dinichert’s sentiments. “Social media is a new way of life for millions of human beings. It is a social answer to family spirit and the material world. The concept will stay even if new

Top 5 social networking sites*

Facebook: for leisure, chat and dating LinkedIn: for international business and career development MySpace: for music fans Xing: for career visibility Twitter: because otherwise you’ll get left behind! *According to experts we spoke to

TopExecEd Guide www.topmba.com/emba

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EXEC MBA Interview process

The Executive MBA and the Interview Process The most intimate and intimidating part of the application process By Jason Price, Director, EMBA World

W

ith the current economic environment it is no surprise that business schools report significant increases in inquiries, higher attendance to on- and off-site information sessions, and an increased volume of applications for attendance in 2009. But this rosy picture does not necessarily transfer towards the Executive MBA, which may prove to be advantageous if you are planning to attend in the upcoming year.

classroom sessions with full time employment and graduate within two years. With the drop in the economy, employer sponsor cut backs and rising unemployment have appeared to hurt EMBA enrollment and it simply does not look as strong as the traditional programs. EMBA enrollment is approximately 10% down from last year, due to the economy, reports Joan C. Coonrod, Director, EMBA Admissions, Goizueta Business School, Emory University. Wharton reports little to no growth in

The Executive MBA is highly selective and a lesser known form of graduate level business education than the traditional MBA. The EMBA’s 210 plus programs in the United States and around the world attract an older and more professional student body. The average age is 33 to 35 with typically seven years of work experience. Students augment weekend

applications for similar reasons. No matter how many slots will be competed for in the upcoming year, one of the most important parts of the application process is the graduate business school interview. The interview is one of several components to the career record. The career record is an aggregation of professional and personal history summarized in a series of

steps that includes the essays, interview, evaluation, and the business school application. The career record best represents a total picture of a working professional applying to the EMBA. Each component of the career record deserves careful attention and no singular part should be treated less important than the next, although admissions officers agree that certain aspects of the career record receive more weight than others, as illustrated in the pie graph below.

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EXEC MBA INTERVIEW PROCESS

The interview The interview process is essential for admissions and strongly encouraged to take place face-to-face. Do not despair; phone interviews are an option for international and cross-continent applicants. Some schools use teleconferencing services to bridge the two parties. “At Fordham University we do require an interview for admissions. For foreign students this interview is done via phone,” says Francis Petit, assistant dean and EMBA program director at Fordham’s Graduate School of Business Administration. The formality of the interview can vary from school to school but regardless, do not underestimate the importance of the interview in the evaluation process. If an interview is scheduled, then you have passed a round of internal reviews and now it is time to meet. Wear professional attire, understand the audience, have a working knowledge about what the interviewers want from their applicants, and come prepared to discuss personal and professional achievements. Bring a few copies of your resume as well as pen and paper – it is acceptable to take notes during the discussion. Treat the interview as if it were a high profile meeting. You may meet with members of faculty, admissions, EMBA administrators, and even the Dean. “Interviews are generally conducted by faculty who will be teaching the course and the interview takes about 30 minutes. It’s a formal interview, the candidate should expect a similar format to a job interview,” says Josie Powell, PR Coordinator, Saïd Business School of Oxford University. Expect many open-ended questions during the one hour session. They will want to get to know more about you as a person and hear in your own words what makes you stand out. They will evaluate on attitude, communication skills, general intellect, and most of all your compatibility with potential fellow classmates and ability to contribute to the group dynamic. As Diane A. Sharp, Associate Director, Marketing and Admissions, MBA Program for Executives, The Wharton School at UPenn, describes, “Interviews are one-on-one and with a member of the Admissions Committee. They last approximately forty-five minutes. We focus mostly on job history and why an MBA is necessary. We are looking to see if the individual has positive interpersonal skills and has examples of leadership in his/her past.” Since the whole person is the objective even traditionally taboo subjects may have a place here. If you volunteer, belong to a political or religious organization, or even play an instrument, interviewers want to know because it gives them a better understanding of who you are and what

separates you from the next candidate to walk through the door to be interviewed. Given that business is a global discipline, it is advisable to discuss your international experience at length including any business conducted overseas, family that may live in another country, a foreign language you may speak, and experience and ability to work with people in other cultures. Admissions officers value international experience.

General discussion points Asking questions is encouraged. You want to make sure this particular program fits your needs and career goals. Be inquisitive but avoid asking questions that can be answered in the school’s literature like what is the emphasis or strength of this program, size of class, or typical classes. Try to get a feel if your career and background is the right fit for the school. If the program has a pharmaceutical track, then inquire how this would work for someone not in the same field. Sample discussion points: • Work experience • Conflict resolution and problem solving • Relationships with peers and superiors • Personal successes and failures • Professional successes and failures • Ability to manage changing environment • Extracurricular activities: volunteer work, hobbies, and other personal and professional accomplishments

How to respond Have you ever considered why bus doors are always located opposite to the driver’s seat? Or why manhole covers are round? These classic interview questions by top consulting firms are meant purely to judge your intellect and reasoning process. They want to see how you think and measure your ability at drawing conclusions in cogent and meaningful ways. Practice preparing responses for the sample questions presented in this article. Rehearse but do not sound scripted.

Sample questions The heart of the interview is to get to know you more and test whether you have fully weighed all the options and considerations with this

endeavor. Here are sample questions you can expect to be asked: • Why the EMBA and what led you to make the decision about attending business school at this time? • How will the EMBA assist you in achieving your short and long term goals? • What are you looking to get out of the program? • Tell us about your work experience and how an MBA will fit with plans for the future? If you have not given the consideration as to why you want to go back to school or fully understand the responsibilities and demands of the education on work life and personal life then trying to figure this out during the interview will sink your objective of getting accepted. To get you started and determine if the EMBA is right for you try the Executive MBA Self-Assessment Form on the EMBA World website www.EMBAWorld.com).

Scoring system No school will reveal their secret formula, or lack there of, but they do report similar types of grading systems whether it is a one to five or A,B,C,D, and F. In the end it comes down to the program directors who have the best sense of what will or will not work as Francis Petit says, “I make 100% of the admissions decisions. We discuss the program, discuss their background and determine if this program is a good fit not only for the applicant to Fordham University but Fordham University to the applicant.”

Conclusion So put on that tie or straighten out that blouse, put a smile on your face, and put your best foot forward. It is time to meet with admissions. You will possibly spend the next two years with these people in this program. The mere fact that you have completed the application, passed one of their many reviews, and have taken time to meet with you suggests that they are serious about you as a candidate in their program. In return, you want to show the same mutual interest and respect. Use the suggestions in this article to get you not only through the door, but onto what may serve as one of the most rewarding educational experiences one could face through the Executive MBA.

EMBA World is a New York City-based organization dedicated to helping employees and employers understand options regarding graduate level business education and in particular the Executive MBA. Jason A. Price, MS, MBA, is Director of EMBA World founded in 2003, and author of The Executive MBA: An Insider’s Guide for Working Professionals in Pursuit of Graduate Business Education. Jason is a frequent speaker to media on graduate business education issues and publishes industry articles periodically on the subject. The Insider’s Guide can be found at online bookstores or at EMBA World www.EmbaWorld. com. You can reach Jason A. Price at Jason@embaworld.com.

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EXEC MBA DECISION-MAKING PARIS LONDON BERLIN MADRID TORINO

BUSINESS SCHOOL

Emotions and decision-making processes in management teams:

intensity does matter By Véronique Tran, Professor of Organizational Behavior, ESCP Europe Véronique Tran

G

roup decision-making continues to be of paramount importance to organizations, both large and small, but which emotions drive group members to work together and how do such emotions impact on the decisions made? In this research, over 100 managers from three multinational organizations, all of whom had been placed in an environment in which to make high-level managerial decisions, were studied to determine what were the influencing emotions that impacted on group dynamics and how such emotions contributed to the overall outcome. Emotions are rarely studied in relation to group decision-making. Yet, in teams, a variety of emotions are evident and affect the decisionmaking process. Using data from 20 simulated companies run by a total of 106 managers attending executive education programs, the current research examined to what extent four classes of emotions - achievement, approach, resignation, and antagonistic - were related to team decision-making processes (alternative generation and alternative evaluation), and to team cohesion. Findings showed consistently over time that intense levels of achievement,

Decision-making processes

Alternative generation is the ability of team members to generate as wide a range of alternatives, and as great a number of alternatives, as they can in order to avoid being psychologically entrapped in too narrow a decision and to ensure that no meaningful element has been overlooked. Alternative evaluation is as thorough an examination of the alternatives as possible, thus preventing team members from ignoring relevant information, limiting

24

approach, and antagonistic emotions were negatively related to group decision-making processes. Resignation emotions, which were not reported with high levels of intensity in this research, yielded a positive relationship with team cohesion. Emotions affect decision-making processes and relationships among individuals: negotiating partners with a high anger level not only achieve fewer joint gains but also impact on the partners’ desire to work with each other in the future. However, anger is not the only emotion that decision-makers can experience. Despite recent efforts to study various forms of collective affect and their influence on organizational processes, very little empirical work has been done on collective emotion in relation to team decisionmaking processes. The purpose of my research was to address some of these identified gaps in organizational research and to examine the extent to which emotions are related to decision-making processes in management teams. I examined alternative generation, and alternative evaluation, and team cohesion - a group process by which members commit to team decisions while enjoying working with others.

their discussions to only a few alternatives, and taking the risk of deciding too hastily. The examination of each alternative is carried out together with an analysis of its costs and benefits. Team cohesion is the commitment made by all team members to the team’s decisions and to the team itself, implying positive feelings toward team members. Team members’ goals are to enhance present and future performance of the team.

The use of teams in organizations has become more prevalent as more and more strategic decisions require team decision-making, given the high stakes involved. Nevertheless, both advantages and disadvantages of team decisionmaking have to be considered. Decisions made by teams are thought to be advantageous for at least two reasons: the pooling of knowledge, expertise, and skills; and the commitment to the team and to its decisions (i.e. team cohesion). First, the pooling of knowledge, skills, and expertise is critical to the quality of decisions taken by teams. Second, it has been argued that team members have a greater propensity to support group decisions if they participated and are listened to, thus reinforcing the commitment to present and future decisions. These decisions, taken and accepted by all members, have a better chance of being successfully implemented. However, the advantages may become disadvantages. The diversity of perspectives, skills, expertise, opinions, and status has to be integrated, which can lead to dissent, disagreement or conflict among team members. Although conflict in itself is presumed to help decision quality, it can be detrimental, especially if group members get involved in disputes which are taken personally. Team members are confronted with uncertainty and ambiguity, which can be a source of stress. In turn, stress and autocratic leadership in a highly cohesive group that feels invulnerable can provide antecedents for “groupthink” (i.e. defective decision-making). The group members favour unanimity above the realistic assessment of alternatives, thus suffering momentarily from a deterioration of mental efficiency, reality testing, and moral judgment. Despite these possible drawbacks, group decision-making is considered as one of the more important aspects of group performance. The processes usually involved are gathering and

TopExecEd Guide www.topmba.com/emba

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EXEC MBA DECISION-MAKING

sharing information, creating and identifying alternative courses of action, choosing among these alternatives by integrating the diverse perspectives of members, and implementing the decisions. The particular focus of my research is strategic decision-making observed in a naturalistic decision-making framework. This is characterized by ill-structured problems, uncertainty, dynamism, the shifting of competing goals, time stress, high stakes, multiple players, and organizational goals and/or norms. A strategic decision is defined as an important decision that deals with complex and ambiguous issues and requires a significant commitment of resources from the organization. The complexity and ambiguity surrounding a strategic decision is usually too overwhelming for one person to deal with, thus strategic issues are often handled by top management teams. Interestingly enough, most of the 20 self-managed teams in the study selected an arbiter of their decisions who was most often called the CEO. Two main decision-making processes were identified: (a) the generation of alternatives, which represents the more creativity-oriented process; and (b) the evaluation of alternatives, which represents the more analytical dimension of decision-making. One group process was selected, namely team cohesiveness, which contributes to the acceptance and commitment to the decision by all team members. The participants of the study were 106 managers from three multinational organizations. They had been selected by their top management to take part in executive development seminars. A total of 20 nationalities were represented. Heterogeneous teams, which have been shown to make higher-quality decisions when dealing with non-routine, complex problems, were formed before the seminar started. Team members operated as a self-managed team, acting

Classes of emotions Emotion is event/object specific and usually has a definite cause and a cognitive content. Therefore its implications on behavior are focused and specific. Behavioral consequences of emotion may vary depending on the intensity of the emotion felt. Four classes of emotions are used: (1) achievement (for example pride, elation, joy, satisfaction); (2) approach (for example relief, hope, interest, surprise); (3) resignation (for example sadness, fear, shame, guilt); and (4) antagonistic (for example envy, disgust, contempt, anger). They were measured using the Emotion Wheel (see Figure 1).

as a board of directors of the company they have to manage during the business simulation. This was a main learning component of the seminar, during which the decision-making processes were studied. The business simulation used in the present research was designed to help participants see the integration of different functions and competencies necessary to run a multinational organization. It is a complex, large-scale simulation that requires complex decisionmaking strategies to deal with multiple inputs, unpredictable events and competing groups. Simulations have been identified as being efficient and pivotal in the development of managers, because they provide a viable and costeffective means to develop managers in realistic, but non-threatening situations. Participants reported their emotions at the beginning (B), middle (M) and end (E) of each decision period

(see Figure 1). Findings in my research systematically revealed that intense levels of achievement, approach and antagonistic emotions were negatively related to group decision-making processes consistently over time. More specifically, intense achievement emotions were negatively related to alternative evaluation. These results show that intense feelings of joy and pride (two examples of achievement emotions) may contribute to the good morale of team members but not make them more efficient and/or effective in their decisions. I observed during the simulation that some of the teams that tended to stay “high� on these achievement emotions demonstrated the characteristic behaviors of complacency and overconfidence typical of these emotions. In contrast, in the early phases of the simulation, during which it can be conjectured that momentum was built up, intense TopExecEd Guide www.topmba.com/emba 25

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EXEC MBA DECISION-MAKING

achievement emotions were positively associated with alternative evaluation. As time evolved the combination of an increased complexity of the task accompanied by high arousal (i.e. maximum intensity for the group consensus emotion) led to a negative relationship between achievement emotions and alternative evaluation. The relationship between intense approach emotions and team cohesion, a team process, was negative. Approach emotions are expected to help sustain group activity as they reinforce links between people. Team members feeling approach emotions are mobilized to move forward, and are not only committed to the task, but also to work together. However, approach emotions can lead to dispersed attention or conversely to excessive focus, and to unrealistic goals. Thus, high intensity levels of approach emotions may lead to conflict of divergent objectives among team members, which in turn has a negative impact on team cohesion. Resignation emotions were positively related to alternative generation. Fear (one example of a

resignation emotion) enhances adaptation, as it helps individuals to be more perceptive to the useful signals provided by the environment and to take less risk. A mild degree of fear may actually be beneficial to alternative generation, as the team has to find new solutions and new ideas to improve their performance. The type of fear prevalent in this situation may be the fear to appear less competent than one’s peers. Shame and guilt (two other resignation emotions) also have behavioral consequences supporting these findings. Shame leads to improvement and encourages avoidance of incompetence; guilt contributes to constructive endeavors. These characteristics seem compatible with the activity of generating additional alternatives, in order to better cope with the increasing complexity of the decision-making task. Antagonistic emotions were consistently negatively related to alternative evaluation. In the strategic decision-making literature, the dichotomy between cognitive conflict and affective conflict relies on the fact that anger leads to interpersonal

conflict (or affective conflict), which in turn is detrimental to decision-making. Anger inhibits the process of considering all contradictory viewpoints and of making decisions. Findings in the present research showed rather systematically that intense levels of emotion, regardless of its positive or negative nature, appeared detrimental to group decisionmaking processes, thus providing further support to the important body of literature that considers emotion as an inhibitor rather than a facilitator of decision-making. I propose that this research has begun to find curvilinear relationships between emotion and decision-making processes, that is a little fear helps, a lot of fear may not; a little pride helps, a lot of pride may not, etc.. There is no simple dichotomy between good and bad influences of affect/mood/emotion. The challenge remains in the future to study the influence of emotions on actual decision outcomes as it is probably one of the most frequently asked questions when it comes to reallife implications of this study.

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EXEC MBA women

Women and the Executive MBA:

You can do it!

By Spencer Matheson, Contributing Editor & Dawn Bournand, Features Editor, QS TopExecEd

The effect of being put under the pressure by combining jobs, family life and the program is amazing. It works like a pressure cooker: it accelerates; in this case it accelerates individual learning processes. I have seen that happening to others during the program but especially I have felt it for myself: my ability to multitask and to stay in control even when I lose it has increased tremendously – Katharina Schmidt, Managing Partner, Krauthammer- Kellogg-WHU EMBA student 2008

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or years now, EMBA programs have been struggling to attract as many women as law school and medical school, which reached parity some time ago, whereas the average percent of women in EMBA programs is closer to a quarter. One of the most commonly cited reasons for this is that medicine and law are clearly defined professions which women decide to embark upon in their early 20s, before planning families, whereas EMBA programs try to recruit women as many are thinking of starting families. Several EMBA programs are now looking to accept highly qualified women with slightly less work experience than they have traditionally targeted. Dean Ethan Hanabury of the Columbia Business School Executive MBA program sees EMBA demand “trending younger as women check the MBA box while advancing professionally before they start to think of children and other family obligations.”

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Making choices and getting support The difficulty of maintaining a healthy work/ life balance is a common reason women are sometimes put off by EMBA programs. In many cases, it is simply more difficult for women to clear their plate, and make time for the serious commitment studying for an Executive MBA represents. “Many of our female students have childcare responsibilities whilst they are enrolled on the EMBA, and we even have students who are pregnant or on maternity leave during the program. We’ve found that it’s useful to connect female applicants with current female students who are in a similar situation, so they can discuss the pros and cons of enrolling on an EMBA whilst juggling work and family commitments, “states Rachel Waites, Associate Director, Corporate and Student Recruitment at Chicago Booth. Jaki Sitterle, Managing Director of Executive Programs at the NYU Stern School of Business sums it up nicely, and even cites a possible advantage women have in all this:

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EXEC MBA women

“Deciding to do an EMBA involves balance, prioritizing, multitasking and time management. I had a recent conversation with a woman in the Executive MBA management faculty who said that women were better at multi-tasking than men. She referred to research stating that the part connecting to the hemispheres of the brain differs in structure for women and men; brain mapping shows women can think on parallel tracks and men tend to think sequentially. So as such, juggling a family, work and an Executive MBA may actually pull on this ability to multitask for women. An Executive MBA is certainly an issue of prioritizing, multi-tasking and making choices.” Francis Petit, Director of Executive Programs at Fordham University believes:

“Familial support from either the spouse or other loved ones is essential. If that does not exist, it will be even more difficult for women to obtain this degree in such a condensed format. Familial support is key! Talk to your spouse and loved ones. Make sure you have full support at home. Once that occurs, take full advantage of the experience. Dive right in. You will become a different person and it will energize you!” Bernadette Conraths, Head of Executive Education at WHU, adds, “The one thing we tell all of our candidates every year is to make sure your support system functions. Make sure everybody you care for and love and are responsible for is in the loop and supports you in this. Otherwise, you will add a burden to an already quite heavy pressure time.”

Technology = flexibility To differing degrees, depending upon the nature of the program, the flexibility of mobile technology is making it easier for women to take the plunge. According to Patricia Marcaida, Director of the International Unit within ESADE’s Executive Education Department, “We do know from participants’ feedback, that the internet is certainly almost a given, a must for them right now because a lot of them in their high positions are used to working remotely. They travel a lot. Also, those with families with small children have to sometimes work from home. They’re used to this remote lifestyle. I think there is almost an expectation that if we are catering to this level of executive that internet technology has to play a significant role

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EXEC MBA women

in the program.” At IESE, says Maria Puig, one of the Executive programs they offer has achieved parity, and much of the credit goes to technology: “Definitely, technology has played an important role by facilitating mobility, which allows participants to deal with such an intensive experience while they are close to their work and families, considering that our Global MBA lasts for nearly 500 days. 17 per cent of the time is residential and therefore full-time; and 68 per cent of the time is between individual preparation and team work, which is possible thanks to the global campus platform. So during this time when participants are working and are with their families, they keep connected to this platform via the internet. We wouldn’t have been able to launch this program without technology.” For the growing number of increasingly flexible EMBA programs like these, one can argue that EMBA programs are the most accessible of all business education paths for women, because unlike full-time MBA programs, they allow students to stay with a job, and earn their MBA in a part-time format, where they can still dedicate attention to their personal life. And the MBA is a qualification that makes it easier to return to work, or find another job after a leave of absence. Indeed, the juggling act

of work/home and EMBA can provide lessons in itself. Joan Coonrod of Emory University points out: “The biggest hurdle for many “Type A” personalities is letting go of the 70 hour work week. The EMBA is an excellent opportunity to look around the organization and begin grooming a successor by delegating appropriately. It’s what leaders do!”

You can do it! Another commonly cited reason for the deficit of women in EMBA programs is a lack of female role models. Many programs are now trying to address this issue head-on. Ken Robertson, Director of MBA Marketing and Admissions at Rotterdam School of Management, Erasmus University says, “Every participant has at least one mentor or advisor throughout their time as a student. Some of the most active are female alumni who use their development process as a pattern for helping others. Female alumni are an important part of the overall recruitment and counseling process as they provide positive role models.” Many programs have indeed formalized this with buddy systems: “In addition to our own advice, we usually put candidates with other women who have done the program before to give them advice and experiences and it usually works very well,” says IESE’s Maria Puig. Finally, women often lack confidence in

their math skills. Many deans talk about how women discover that finance, or other quantitative disciplines are for them during their coursework; how their EMBA experience opens paths they never anticipated taking. Dean Hanabury, Columbia, remembers one particular student: “It’s interesting because she only discovered her interests in finance when she began to take courses in finance in her program. I think that we hear stories like this all the time and it makes it very rewarding for those of us who work with and teach Executive MBA students to see that they are able to benefit their career in this kind of way.” Without exception, all EMBA programs are working hard today to bring more women into their programs. “In the past three years we’ve doubled the percentage of budget we spend on media directed to women. In print we target print media that specifically targets businesswomen. Online, we use demographic targeting that’s similar to geo-targeting, where we try to target online properties where the demographic is heavily women,” says Joan Coonrod at Emory, and they are not alone in undertaking such measures. Coonrod thinks women are simply “not selfish enough sometimes. They need to put their own development on the front burner. This is often really the hardest part for women with careers and family.”

Some interesting facts to consider. Research by Marianne Bertrand., Chris P. Dialynas Professor of Economics at Chicago Booth. • Gender differences in grades and course selection are statistically significant but not very large: women have a mean GPA of 3.25 compared with 3.38 for men and they take about half a class less in finance. • Women take more career interruptions and work shorter hours. About a decade following MBA completion, the actual job experience of men and women differs by six months; women work 52 hours per week, men 58 hours • The presence of children is the main contributor to the lesser job experience, greater career discontinuity and shorter work hours for female MBAs. Across the first 15 years following the MBA, women with children have about an eight month deficit in actual postMBA experience compared with the average man, while woman without children have only a 1.5 month deficit. • Mothers seem to actively choose jobs that are family friendly and avoid jobs with long hours and greater career advancement possibilities. Many MBA mothers, especially those with well-off spouses, decide to slow down within a few years following their first birth. • Women with children typically work 24 percent fewer weekly hours than the average male; while women without children work only 3.3 percent fewer hours.

About Marianne Bertrand

Marianne Bertrand is an applied microeconomist who has done work on racial discrimination, CEO pay and incentives, and the effects of regulation on employment, among other topics in labour economics and corporate finance. Bertrand taught at Princeton University for two years before joining Chicago Booth in 2000. She is currently a research fellow at the National Bureau of Economic Research, the Center for Economic Policy Research, and the Institute for the Study of Labor.

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EXEC MBA INTERVIEW

Featured

EMBA Graduate

Isobel Leaviss

Embarking on an Executive MBA is a big decision for any candidate to make, but for Isobel Leaviss there were three key reasons: furthering her knowledge, building her confidence in senior management disciplines, and career development. She speaks with Dawn Bournand about her EMBA experience.

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graduate of Chicago University – Chicago Booth EMBA, Isobel Leaviss is now putting her skills to the test as the Program Director for the London Olympic Legacy. “My role is to oversee, co-ordinate and support the management of projects designed to deliver a successful and lasting legacy from the London Olympic Games after 2012,” Leaviss says. “This includes business planning for venues/ facilities after the Games, redevelopment of sites for housing and commercial use, and ensuring there are projects to build positive connections between the Olympic Park and the surrounding communities, including promoting job opportunities for local people.” It’s a position Leaviss, a mother of two, doesn’t believe she would have had the confidence to apply for if it wasn’t for her Executive MBA. “Within two years of completing my EMBA, I applied for and secured a promotion whilst on my second maternity leave. I know that the EMBA gave me more confidence to seek a promotion at this time. My degree strengthened the breadth and depth of my knowledge in relevant management disciplines and it also demonstrated ongoing career commitment to my employer at a time when I had taken time out to have two children.” Leaviss hadn’t planned to add children to the list of things to juggle while studying for her

EMBA. “If I had known that I would have a baby during my EMBA before I started it, then I might have decided not to go ahead!” she says. “But I did, and the team at Chicago was extremely supportive. They offered me the options to defer for a while or continue as long as I felt able to keep up with the program and exams. I was able to stay in London for all of my classes once I was too pregnant to fly - so I missed a trip to Singapore and a second trip to Chicago - but it meant I could complete the course with my classmates. I was even able to listen in on

some lectures online (immediately after my son was born!). I had a lot of support from my husband and from my parents who also helped make this possible and just about keep all the balls in the air!” Gaining confidence and securing such a high profile promotion are just two of the benefits Leaviss has received since graduating with her EMBA in 2007. A third is the social network of colleagues she has kept in touch with since graduating. “Meeting such friendly and interesting classmates was one of the best parts of going through the program. I know that there is a brilliant network which will last for a long time to come.” “The program also allowed me to refresh some knowledge and understanding from my first degree, such as economics. Also, underpinning my confidence in a wide range of different subjects which I had touched on during my career to date but had not studied formally, such as accounting, marketing, management/leadership.” Would she encourage others to pursue an EMBA? “Yes,” says Leaviss. “It’s exciting to learn again in a classroom setting and to learn from so many different people from a range of backgrounds, countries and career paths. There’s also the greatest advantage to having an Executive MBA degree as well – boosted confidence!” TopExecEd Guide www.topmba.com/emba 35

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EXEC MBA Electives

Electives – giving your EMBA the edge By Ann Graham, Features Writer, QS TopExecEd

Each year, hundreds of managers and aspiring leaders enrol in an MBA degree with the goal of progressing their career up the corporate ladder. Top business schools around the world report increasing student numbers year on year, of those pursuing this postgraduate business management qualification.

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s an Executive MBA (EMBA) candidate, you’re one of many applying for a place on such a program, but come graduation how do you ensure you stand out from the crowd against your fellow colleagues who have similar skills and attributes acquired through an EMBA qualification? The answer comes in the form of EMBA electives – specific programs you choose throughout your EMBA studies that will enable you to create your very own specialized EMBA degree. The advantage of EMBA electives is the feedback you gain in each class - EMBA electives classes are made up of 20-30 people, compared to the 30-100+ enrolled in your EMBA program. They predominantly focus on a range of soft skills including leadership, personal development and presentation skills. Hannelore Forssbohm, Program Manager of the Kellogg-WHU Executive MBA Program, says there are three key ways electives add value to a student’s EMBA program. “Global electives provide a network which spans continents, connecting experts in local markets,” she says. “Students also learn how each local market plays a vital role in the global economy and each elective bridges the gap between theory and practice.” Kellogg-WHU is a joint EMBA degree program offered by Kellogg School of Management at Northwestern University, USA, and the WHU-Otto Beisheim School of Management, Germany. Heather Pelant, Head of iShares Canada, Barclays Global Investors graduated with her

EMBA in 1997. One elective in particular gave Pelant insight into issues outside of the US. “As part of a company with a global footprint, the European Elective module was a very valuable choice,” she says. “It’s challenging to think about western issues and not to take North American issues as centric of the world.” So what then are the differences between electives on offer in North American schools and those on offer across Europe and the UK? QS TopExecEd takes a look at the range of EMBA elective programs on offer at top business schools around the world that will give you and your EMBA a winning edge.

Europe INSEAD is recognised as one of the world’s top-tier business schools and is the only business school with fully-fledged campuses in Asia (Singapore) and Europe (France). Spanning two unique, yet equally important, business environments, INSEAD’s electives program is made up of offerings in accounting, Asian business, entrepreneurial leadership, brand management, international finance management, and industry and competitive analysis. INSEAD EMBA candidates have a choice of three electives from a list of 12. Kerem Girgin, a current student on the INSEAD Global EMBA said the school’s elective program provided the opportunity to look into other fields. “I chose one [elective] because it directly touched something I knew and I could get

deeper into the topic. Another one because I wanted a better understanding of a subject I had briefly touched on, but wished to know more, and the third in order to widen my horizon. The best thing is probably that the electives are really applied and investigate the field, while the core courses are more theory-oriented.” Rotterdam School of Management (RSM), Erasmus University, says its EMBA curriculum, in particular the specializations on offer, are adapted and modified continuously to reflect the latest global trends. “Our electives allow students to follow up on areas of interest, either related to their present company or industry, or one on which they might aspire to work,” says Ken Robertson, Director of MBA Marketing and Admissions. RSM’s elective program includes negotiating and contracting, leadership, international investment management, entrepreneurship and intrapreneurship as well as an international elective, but Robertson says it is not so much the electives themselves that have changed, rather the content and context. “In a general management-oriented program, a wide variety has always been necessary,” he says. Spread across five European cities (Paris, London, Berlin, Madrid and Turin) the ESCP Europe Executive MBA divides its elective courses into three major categories: leadership and management, strategy and marketing, finance/control. Under each category is a range of electives that allow candidates to gain a TopExecEd Guide www.topmba.com/emba 37

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EXEC MBA Electives

deeper understanding in a specialized area of their choice. Electives include: corporate responsibilities and ethics, personal impact in communication, international contract law, sustainable development and corporate strategies, financial planning and corporate hedging strategies. ESCP EMBA candidates have a choice of 12 electives from a list of 36.

US Across the Atlantic, Wharton Business School, University of Pennsylvania, offers the most electives of any business school. EMBA students can choose from a list of electives that include accounting/finance, health care, insurance and risk management, legal studies and negotiations, management and strategy, marketing, operations and information management and real estate. There is also the option of designing an independent study project in the second year of the EMBA program, which provides students with an opportunity to engage in further in-depth research. Wharton EMBA candidates can choose from a list of 200+ electives which they study in the second half of the second year. In contrast, Fordham Graduate School of Business in New York only offers 4.5 credits of electives for its EMBA program, but this in no way disadvantages students. “We do have the flexibility to get some of these electives crosslisted with other disciplines, just in case students would like to pursue a dual concentration in another field such as finance or marketing,” says Francis Petit, Assistant Dean and Director of Executive Programs and Adjunct Associate Professor Marketing. The electives program at Fordham has also changed over time. “Initially we have offered “Emotional Intelligence” and

“Entrepreneurship” as electives,” says Petit. “Now students seem to want “Turnaround Management”, “Merger and Acquisition Strategy”, “Value Innovation” and other types of innovation classes. I see these electives continuing to evolve,” he says.

UK In the UK, the range of electives on offer from some of the top business schools has EMBA students spoilt for choice. Henley Business School’s EMBA degree includes a program of electives on topics such as brand and reputation management, competitor intelligence, creative problem solving, customer relationship management systems, entrepreneurship, and intercultural analysis. London Business School’s electives cover a range of business skills and soft skills including accounting: securities analysis and financial modelling, venture capit al and private equity; entrepreneurship: managing the growing business, new venture development; marketing: brand management, pricing strategies; and organisational behaviour: managing change, negotiating and bargaining, paths to power. Students choose six to eight electives in the final two terms of the program. Maarten Van den Broeck, a graduate of London Business School’s EMBA program says: “My choice of electives thoroughly strengthened my knowledge in finance, entrepreneurship and strategy. Some of the elective courses represent a mini-MBA in themselves as all management areas are addressed – strategy, marketing, accounting, finance, operations, and processes and the organization. The iterative nature of the process is a key differentiator of the program,” says Van den Broeck.

Meanwhile, Shawn Murphy identified an area of finance he may not have otherwise discovered during his Executive MBA program at London Business School – microfinance. “As a result, I tailored my elective choices to develop my knowledge and understanding of the microfinance industry and I chose to work with a start-up microfinance organization in Tanzania for my management report. It was an amazingly rewarding experience,” he says. “My experience and education on the Executive MBA provided me with the skills to take advantage of an internal opportunity to help launch a newly formed division focused exclusively on providing capital markets services to the microfinance industry. This is an exciting career move for me, which I was well positioned to exploit post-London Business School.”

A unique degree If you ever thought your EMBA degree would be similar to that of your colleagues, think again. With the range of electives on offer from business schools around the globe, you can be assured your Executive MBA degree will be unique. The specializations you choose, the skills you acquire and the network you are able to tap into as a result, will mean your EMBA is yours and yours alone. What’s more, the nature of elective programs means you can continue to study and learn in your specialization long after you’ve graduated. Schools such as ESCP Europe have responded to the call for life-long learning and invite their MBA graduates to attend current European Executive MBA elective courses. Perhaps that will be another thing to consider when choosing your Executive MBA degree.

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EXEC MBA United States

EMBAs in the United States By Jason Price and Orit Sklar

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s the world grows flatter economies integrate further. Preparing a workforce for these challenges has never been greater, particularly in our “new normal” business climate. Leading the charge are business schools and their Executive MBA programs. It is here where the potential to show leadership and corporate responsibility is at its greatest and where global expansion is taking place.

America and Latin America to Europe and Asia. Building international bridges exposes the university brand, exports the US-based business teaching methods, and draws in the best and brightest from around the world – all of which simulates the real world business environment and establishes an additional appreciation and understanding of the markets’ impact on individual lives and communities around the world.

Tarnished Luster The recent recession has turned all fundamental economic laws upside down. Everything is now being questioned. However, business schools are best suited to lead the way with new curriculums that offer a stronger emphasis on corporate and personal ethics. The programs need to revitalize education so that it is not a function of the old economy but a living and breathing product that continues to evolve and act responsibly. The afterglows of Wall Street may have dimmed but business graduates have found an invigorating entrepreneurial spirit. Competition to get into business schools in North America remains competitive and this goes for applicants of the Executive MBA. The new mantra in MBA programs these days is building corporate social responsibility while schools look to further penetrate the globe by exporting the business school brand. Excitingly, this is best seen in many North American Executive MBA programs.

A Global Perspective If EMBA students weren’t globetrotting prior to their enrollment, that certainly will not be the case after completing a US- based EMBA program. Now more than ever, EMBAs in the United States are expanding their reach by offering degrees independently overseas or through partnerships with one or more international business programs from South 40

“Candidates begin to realize the timelines of the degree to prepare for the challenges that lie ahead as a result of the downturn.”

Some schools rise above others. “Unlike other schools that seek to establish a virtual or ‘bricks and mortar’ presence in other countries, our partnerships are built to provide our US students with comprehensive global immersion experiences,” says Jim Bradford, Dean and Ralph Owen Professor for the Practice of Management at the Vanderbilt Owen Graduate School of Management. Xavier University has partnerships with numerous schools overseas, and prides itself on placing a strong emphasis on the international experience from day one. “As one of the oldest EMBAs in the nation our inclusion of mandatory international study was pioneering,” remarked Jennifer Bush, senior executive director of the MBA program. “International is no longer an option for an EMBA, it has to be mandatory. Business is global. EMBAs have to be global. That is the perspective that they have to have no matter what their role and their industry.”

Globalization has played a large role in determining the path of EMBA programs. “In 2004 we transformed our EMBA programs which were offered in three locations as separate programs, into EMBA Worldwide, with one cohort, one selection process, one curriculum and approximately 35% of the content offered in a global context in our unique Global Executive Forums,” said Anne Nemer, Assistant Dean and Executive Director of the EMBA at the University of Pittsburgh, which graduates approximately 90 students from the EMBA Worldwide program per year, and 25 from custom EMBA programs. The University of Pittsburgh’s EMBA uniquely shines with its tri-continental setup, operating independently, and not in concert with any institution, except in the case of the custom EMBA program in Prague, which is offered in partnership with US Business School Prague. Another great example of a multi-university EMBA degree is the respected program TRIUM, a three university collaboration, which bridges universities from the US, France, and England together.

Economic Factors So as curriculums are rewritten and personal and corporate responsibility are emphasized, the struggling economy has left some EMBA programs certain about their future enrollment and left others guessing. According to Bush, Xavier EMBA applications and admissions are on the rise, as candidates begin to realize the timelines of the degree to prepare for the challenges that lie ahead as a result of the downturn. However, the financial support once relied upon by corporations has declined, notes Francis Petit, Assistant Dean of Fordham University’s EMBA, pushing more of the financial cost on to students. James M. Parker, Executive Programs Director and Adjunct

TopExecEd Guide www.topmba.com/emba

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EXEC MBA UNITED STATES

2009 at Vanderbilt, which confers 50 EMBAs annually, received a promotion after the first year of the program, 52 per cent reported salary growth and 74 per cent gained greater managerial responsibility. “In the past year, the Olin Business School, Washington University in St. Louis, has had six current EMBA students lose their jobs through down-sizing. Four found work after looking less than two months,” said Arelia Jones, Executive MBA Program Coordinator. Part of their success lies with their skill set, but one cannot underestimate the network available to Executive MBA students who consciously develop their connections with classmates and faculty.” While the standard profile of an EMBA student remains constant (average age 38; 10-14 years of work experience), financing is the overwhelming factor. According to the Washington University in St. Louis, 30% of the most recent class is not receiving any financial support from employers compared to 18 and 19% for the two preceding classes. The fall 2007 class had 34% with no financial support. As the cost of an EMBA is higher than its counterpart MBA, the shift in the economy ultimately affects prospective students’ and companies’ ability to afford it. Is this one more area in which EMBA programs will have to demonstrate their market readiness and adaptability or will they take the wait-and-see approach? In the past, EMBA programs have answered the demands of a dynamic global economy on many fronts, and now will be the time to prove the true value add of an Executive MBA degree. New York - Wall street, skyscrapers in Manhattan Associate Professor of Marketing at Pace University’s Lubin School of Business predicts that there will be “a record number of applications, and of higher caliber.” But Parker also expresses concern that “some accepted students may decide to wait another year before enrolling due to worrying about being able to pay their tuition.” Thunderbird School of Global Management has ruled out the art of speculation and has already felt the recession’s pinch. “It has caused a decrease in applications from the past several years, as prospective students are more hesitant to take on large financial obligations and their employers are cutting tuition reimbursement programs,” said Barbara Carpenter, Associate Vice President, Executive MBA programs. Outside of admissions, another indicator of a struggling economy is class size and focus. At Washington University in St. Louis class size for the previous five intakes has decreased from

50 to 30. And Rutgers University has completely re-engineered its courses.

EMBA Outlook Questioning the market value of an MBA is common, but EMBA programs are quick to dispel general thinking and instill a broader context for the use of an MBA. “Growth markets have been the traditional employers of MBA students, but MBA graduates offer equal, if not better value, to emerging markets as well,” states Bradford. All organizations – small or large, established or start-up – face similar types of challenges. The life cycle of an organization and economic cycles of world markets demand talented and educated individuals who can and do provide the analytical abilities and judgment needed to guide businesses successfully.” And, when it comes to employability of the EMBA, the tracking of graduates has yielded impressive results. 22 per cent of the Class of

About the author EMBA World, founded in 2004, is a New York City-based organization dedicated to helping employees and employers understand options regarding graduate level business education and the Executive MBA. Jason A. Price, MS, MBA, is Director of EMBA World and author of The Executive MBA: An Insider’s Guide for Working Professionals in Pursuit of Graduate Business Education. Orit Sklar is content manager. For more information on EMBA World, the Executive MBA, or the Insider’s Guide to the Executive MBA, visit any online bookstore or EMBA World www.EmbaWorld.com. You can reach Jason A. Price at Jason@embaworld. com and Orit Sklar at Orit@ embaworld.com.

TopExecEd Guide www.topmba.com/emba 41

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ExecMBA

Cranfield School of Management www.cranfieldMBA.info/qse SCHOOL

DATA & contact details Class overview Class size: % international: % women: Average work experience:

48 27 27 11 years

Programme duration 2 years Modes of study Part-time: 15 weekends and three, oneweek residential periods each year Modular: six, eight-day residential blocks each year

The Cranfield Executive MBA was first offered in 1981 and is designed to help potential senior managers develop management skills to a depth and breadth that could never be obtained through work experience alone.

Entry requirements - A good degree and/or professional qualification - A minimum of three years' postqualification work experience - A balanced GMAT score of 600 or above - average at Cranfield: 660 (strong candidates may be able to take the Cranfield admission tests in place of GMAT) - If English is not your first language, either: - IELTS – result in band 7 - TOEFL – scores of 100 (internet test) or 600 (paper test) - CPE – grade A or B - CAE – grade A

Testimony

Cranfield School of Management has been delivering world-class MBA programmes for over 40 years and is triple accredited by AMBA, EQUIS and AACSB. The School has an international reputation for excellence and is consistently ranked among the top business schools in the world.

David Marsh EMBA 2008 Head of Finance, Centrica Plc

Choosing to do the Executive MBA at Cranfield was one of the best decisions of my career. It provided me with an explosive mix of knowledge and tools coupled with an incredibly powerful focus on selfdevelopment, giving me the confidence to take that all-important next big step in my career.

The Cranfield Executive MBA is a complete learning experience centred on intense, interactive classroom sessions, where the combination of a diverse and experienced student cohort, and faculty closely involved with executive programmes, ensures relevance and primacy for contemporary business issues. A key feature of the ‘Cranfield Experience’ is our focus on personal development and this is a compulsory module that runs throughout the MBA. We challenge our students to improve the quality of their team working, and build confidence, emotional intelligence and decision-making skills – the qualities that make for inspirational leaders. During part one, students study a diverse curriculum of core modules covering the functional areas of business and the key skills associated with performing these functions. In part two, students tailor their learning by selecting elective themed modules that take a multi-disciplinary approach to contemporary business issues and current research. Students can also choose to undertake an individual project – particularly attractive to sponsored students as they can be of real commercial value to their organisations.

Admissions Start date: January Application deadline: Rolling admissions. Applications recommended by end of November Fees £28,000 Contact details Lesley Smith, MBA Marketing Phone: +44 (0) 1234 754386 Email: l.a.smith@cranfield.ac.uk Web address: www.cranfieldMBA.info/qse

A compulsory international business experience study tour module gives students an opportunity to apply their learning in an international context, and the programme closes with a student-organised capstone conference where students showcase their learning to an invited audience of sponsors, alumni and other industry leaders. Meet this program at the

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ExecMBA

ESC Lille

Lille School of Management Paris Campus www.esc-lille.eu SCHOOL

DATA & contact details Class of 2007 overview Class size: % of women: Percentage of international students: Average years work experience:

20 50 75 7

Price – Tuition fees 19,500 euros (including books and residency expenses, excluding airfare)

Testimony

The primary goal of the programme is to provide students with solid foundations and competencies in general management for their future. ESC Lille’s MBA is a ‘Modular MBA’ which combines Core Business subjects and 10 possible areas of specialisation. The programme is taught in English at the Paris Campus. It is a part-time MBA designed for an international audience who has a minimum of 3 years’ work experience. ESC Lille’s MBA also includes the preparation for the main international professional certifications in FinanceAuditing, Project Management-Logistics and Communication-Marketing.

Arnauld Ponche MBA – Class of 2008 Senior Project Manager RP Global

I have a background in engineering and project management. At my previous job in the equipment manufacturing industry, I managed finance, marketing, and sales specialists and I quickly realized that I needed to speak their language, understand all the key functions of a company and develop a more global vision of business. Doing an MBA had become a necessity! I chose the ESC Lille MBA for its comprehensive curriculum, its balance between hard skills and soft skills, its international dimension and exposure. I was lucky to be studying and working with professors and classmates from every continent: my first experience in crosscultural management. After graduation, I was quickly recruited by an independent power producer, a young company, in which I am in charge of the French project. Doing an MBA is life-changing: it is a very special moment in one’s professional and even personal life. It is a very exciting time of learning, of meeting, of interacting with faculty and professionals from all over the world. It changes your outlook on the world of business, on people, and on yourself.

This programme aims to equip students with a comprehensive understanding of Management & Entrepreneurship in a multicultural and international environment through the development of knowledge, skills and expertise in the subject. The educational experience also aims to develop participant’s intellectual and personal skills and their capability to undertake a practical research study and publish its results. The MBA programme has a 12- to 24- month duration. The educational rhythm alternates between one week of seminars (one per month) and pre and post course work. The curriculum combines 15 core business courses, 1 major to choose amongst 10 specialisations and the preparation of the MBA thesis.

Admission requirements Application form: 120 euros Application form + Management and English tests + in-depth interview A minimum of 3 years of work experience Application deadline: End of August for the September intake. End of December for the March intake. Starting Date: 2 intakes every year. Fall intake: September 2009. Spring intake: March 2010 Contact: Claire DRAY - MBA Programme Director ESC Lille – Tour La Villette - 6 rue Emile Reynaud - 75916 Paris Cedex 19 – France. Phone: Email: Web address:

+ 00 33 1 53 56 36 65 c.dray@esc-lille.fr www.esc-lille.eu

MBA students have the opportunity to attend part of the programme abroad. ESC Lille has developed strong links with leading professional bodies and research at national and international levels, and participants are invited to prepare international professional certifications in the business field of their choice: Finance, Auditing, Controlling, Project Management, Supply Chain Management, Purchasing, Marketing, and Quality Management. Furthermore, ESC Lille has developed strong links with the main research networks in strategy, programme & project management. Accreditation of the school: EQUIS. Accreditation of the MBA programme: PMI GACPM, ISO 9001, apm.

Meet this program at the

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ExecMBA

ESCP Europe www.escpeurope.eu SCHOOL

DATA & contact details Class of 2010 Overview: Class Size Percentage International Number of Nationalities Average Years Work Experience

130 62% 27 10

Start Dates: January

Testimony

ESCP Europe is located in Paris, London, Berlin, Madrid and Turin, offering a wide range of programmes from generalist to specialised Master’s programmes to Corporate Education. ESCP Europe is both EQUIS and AACSB accredited and our MBA programmes are AMBA-accredited.

Uta Niendorf

European Executive MBA 2006 Director of Corporate Development Skandia, Germany The ESCP European Executive MBA Programme suited me because of its truly European approach with 5 campuses across Europe and their heterogeneous, international intake and teachers. The Executive MBA helped me to get the theoretical background to match my practical experience by offering insight into the latest in management theory. I am now able to apply these concepts to my job as Head of Corporate Development at Skandia Germany allowing me to shape the strategy of Skandia Germany in close cooperation with our top management. The Executive MBA is also reflected in my recent promotion with increased responsibilities within the organisation.

ESCP Europe's Executive MBA gives participants the opportunity to study with 130 executives from 30 different countries. Our programme builds on two assets that characterise ESCP Europe: • Our unique 5-European campus structure • Our action-based teaching method Participants benefit from our unique 5-European campus structure: London, Paris, Madrid, Berlin and Turin. To match each participants' needs ESCP Europe's Executive MBA programme has developed local tracks in Paris, London, Torino, Berlin and Madrid for the delivery of core courses which interlink with a large choice of electives and international seminars. All MBA participants attend these interactive

sessions jointly providing great opportunities to expand professional horizons. The European Executive MBA curriculum, harmonised across tracks, provides participants with unique opportunities for group learning and study. Each study track progresses individually on the core curriculum and are brought together for electives, international seminars and conferences. The curriculum is designed around different delivery and study modes combining individual work with team projects and interaction among participants and professors. The programme content is the same for all participants regardless of the track, delivered on the five campuses of ESCP Europe: • 9 core courses • 12 electives (a portfolio of 36 courses is offered across the 5 ESCP Europe campuses) • 5 international themed seminars • International Consulting Project (individual or in teams) • Conferences • On-line e-learning portal The electives and international themed seminars create great opportunities for participants to network and exchange on management practices and knowledge. Electives are offered on all 5 campuses and participants choose 12 electives from a portfolio of 36 on the campuses of their choice. The International themed seminars cover topics such as ‘Innovation Management’ and ‘Regional Leadership’ to gain exposure about doing business globally. With 118 permanent faculty members, presence throughout Europe and close ties with partner schools around the world, a highly international student body and programmes in which the focus is on the participant, ESCP Europe is the choice for people looking for a unique European Executive MBA experience.

Programme Duration: 18 months Tuition Fee: EURO (€) 42000 Entry Requirements: Min. TOEFL Computer Based Score Min. TOEFL Paper Based Score Min TOEIC Min. IELTS Min. Years of Work Experience

250 600 850 7.5 5

Application Fee: EURO 170 Contacts: www.escpeurope.eu ESCP Europe Paris Campus Cécile Miranda +33 (0)1 49 23 22 70 cmiranda@escpeurope.eu ESCP Europe London Campus Magda NEWMAN + 44 20 7443 8870 emba_uk@escpeurope.eu ESCP Europe Madrid Campus Natalia ANDIA + 34 91 386 25 11 solicitudes@escpeurope.eu ESCP Europe Berlin Campus Timo RUNGE + 49 30 32 00 71 71 mba@escpeurope.eu ESCP Europe Torino Campus Giorgia BAVA + 39 347 78 51 211 infomba@escpeurope.eu

Meet this program at the

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The George Washington University

ExecMBA

www.business.gwu.edu/grad/wexmba

DATA & contact details

SCHOOL

Program duration 13 months Format 52.5 credit hours delivered in a hybrid model of residencies and on-line courses.

Testimony

The GW World Executive MBA launches in Fall 2010 and features a new kind of curriculum focused on ethics and global leadership. Our Washington, DC location, academic strength, hybrid model of residencies and online distance education are what sets this program apart. This is where you will become a leader who walks the walk of international business and achieves success on multiple levels.

Murat Tarimcilar Associate Dean for Graduate Programs and Associate Professor of Decision Sciences “As the global economy struggles to understand the current crisis and apply lessons to prevent future crises, it has never been more important to have global business leaders that act responsibly, lead passionately, and think globally. Our graduates will know what to do if their next decision affects the lives of 7 billion people.”

In today’s global market place, international business experience has become a prerequisite for any leader. Mastering the complexity of this new environment requires hands-on experience wrestling with real-world business situations. The GW World Executive MBA is a flexible thirteen-month program for experienced professionals who wish to experience the realities, challenges, and the pure thrill of collaborating with diverse classmates and business leaders of the world. You will take part in two residencies in Washington, DC and three, two-week international residencies in India, China, and Europe that combine classroom instruction with on-site visits at leading companies. You’ll be exposed to practical problem solving, absorb the management wisdom of the East and the West, connect with an elite business community, develop management skills through industry projects in emerging markets, and experience an intensive level of personal coaching and leadership development training. It is a degree rooted in academic rigor and practical relevance that is mindful of cultural and societal variations. It’s one year that will serve you for the rest of your life.

Required work experience Minimum of 5 years of experience; 10 preferred Average age at entry 30 Program cost $ 60,000. Tuition excludes books, domestic and international travel, board and lodging, health insurance and visa fees during residencies abroad. Admissions requirements - Resume and Employment Profile - Two letters of recommendation (at least one professional) - 5 Essays - Official transcripts from all colleges/ universities attended - A completed application with a $60 nonrefundable application fee - Interview by invitation Additional Requirements for International Students - Financial Certificate (complete both sides) - English Language Requirement – graduates of foreign universities (in countries where English is not the principal language) must submit a current TOEFL score of at least 600 on the paper exam (100 on the internet based exam, 250 on the computer based exam) or a score of 7.0 on the International English Language Testing System (IELTS)). Contact details George Washington University School of Business 2201 G Street, NW Duques Hall 550 Washington DC 20052

Final deadline to apply is May 1, 2010. Tel: Email: Web:

(202) 994-1212 gwmba@gwu.edu business.gwu.edu/grad/wexmba

Meet this program at the

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Ingrid Deltenre Direktorin des Schweizer Fernsehens, Patrick De Maeseneire Heinz Karrer CEO von Axpo,

Peter Spuhler CEO von Stadler Rail, Hans Wiedemann Direktor

CEO von Barry Callebaut,

Pierin Vincenz CEO der Raiffeisen Gruppe, Monika Ribar CEO von Panalpina, des Palace Hotels in St. Moritz,

Urs Rickenbacher CEO von Lantal Textiles, Andreas Meyer CEO von SBB,

CEO von Avaloq,

Francisco Fernandez

André Lüthi CEO von Globetrotter,

Andreas Schönenberger CEO von Google Schweiz. Dies waren unsere Gesprächspartner in den vergangenen Monaten. Lesen Sie in den nächsten Ausgaben von «io new management» weitere Interviews mit Schweizer Wirtschaftsführern. Im Magazin «io new management» schreiben Unternehmer, Professoren und Wissenschafter über aktuelle Managementthemen. Die Beiträge bieten griffige Lektüre für den Geschäftsalltag von Führungskräften.

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HEC Executive MBA

ExecMBA

www.emba.hec.edu SCHOOL

DATA & contact details Participant information Average age: 39 years Average professional experience: 15 years International experience: +80% Percentage of international participants: 50% (English modular)

Testimony

Ranked #1 Business School in Europe by the Financial Times in 2006, 2007 and 2008. Boasting a triple-crown accreditation (AMBA, Equis, and AACSB), the HEC Executive MBA combines collaborative exchange between talented senior-level executives with cutting-edge learning methods. Hone your leadership talents with the HEC Executive MBA.

Professor Jean-Marc De Leersnyder Associate Dean for HEC Executive MBA “The HEC Executive MBA is intended for men and women well established in their professional career, who wish to gain the expertise necessary to assume the responsibilities of a senior general management position. Participants are top-level executives, generally ranging from 35 to 45 years old, with at least eight years of professional experience. They represent a broad range of industries and professional skills.”

Primary Objectives The HEC Executive MBA has been designed to propel individuals far beyond their expectations: - address challenges faced by the leaders of today and tomorrow - develop actionable knowledge by bringing real-life situations into the classroom - extend global reach and understanding Benefits to Participants The HEC Executive MBA is ideal for executives with 10 years of management experience. Participants will acquire the skills necessary to: - identify the critical growth factors in a competitive marketplace - develop the 360° perspective that leaders need to drive corporate success - benchmark best practices on a global scale

Program Highlights - focus on Strategy, Change Management, Leadership and Entrepreneurship - collaborative learning based on group work and team projects - overseas seminars providing global perspective The HEC Executive MBA uses active training methods that allow each participant to have a roll in his or her training. The program projects (a Team-based Strategic Audit and an Individual Action-Learning Project) drive the participants to make decisions based on realworld situations. Study Trips The program comprises study trips to the US and Asia. - US study seminars are organized in partnership with the best American business schools - Asian study trips take place in Japan, India or China, immersing participants in different economic and cultural environments Note: participants taking the English modular format will have an additional study trip to Oxford (Saîd Business School).

Selection criteria 1. Minimum eight to ten years of significant professional experience 2. International exposure 3. Experience managing teams 4. Convincing personal and professional goals 5. Good command of the English language 6. Broad variety of extra-professional interests 7. Persuasive letters of recommendation Languages of instruction English or French/English English Program formats Modular: January French/English Program formats - One day-per-week: September - Modular: October - End-of-week: March Alternative Locations Abroad The HEC Executive MBA also offered in English from Beijing and Shanghai (with simultaneous translation to Chinese), and from St. Petersburg (in partnership with St Petersburg State University’s Graduate School of Management [GSOM]). Visit HEC website for more details. Contact details: Name: Email: Tel:

Janet O'Sullivan osullivan@hec.fr +33 1 44 09 34 34

Name: Email: Tel:

Marie Simonsen simonsen@hec.fr +33 1 44 09 34 54

HEC Paris 14, avenue de la porte de Champerret 75838 Paris cedex 17 France www.emba.hec.edu

Meet this program at the

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HECTOR School of Engineering & Management

ExecMBA

University Karlsruhe

www.hectorschool.com SCHOOL

DATA & contact details Intake 2008 Overview Class Size per program: Percentage Woman: Percentage International: Average Years Work Experience:

Testimony

The HECTOR School offers Executive Master Programs for engineers, economists and computer scientists with a unique combination of management know-how with engineering expertise. The school – named after Dr. h.c. Hector, the co-founder of SAP – is run in cooperation with the University Karlsruhe/Germany. All programs are ASIIN accredited and designed for young professionals, allowing to continue careers while acquiring new skills.

Prof. Dr.-Ing. Jürgen Fleischer Chairman MAG Europe Former Academic Director HECTOR School

“As a high-potential engineer in midcareer you often do not have time to participate in a second full time degree program. The dual approach of the HECTOR School efficiently interspersing periods of teaching with on-the-jobtraining coaches executives for the quantum leap into higher management. Moreover the combination of management topics with state-of-the-art engineering know-how is unique.”

Management & Engineering – Unique Combination The HECTOR School programs are more than typical MBA programs. Leadership in today’s fast changing and complex environment does imply technological and organizational responsibilities as well as requires economical accountability and Human Resource Management know-how. Therefore all programs base on 10 modules of each 2 weeks: - 5 Management Modules where participants are provided with general knowledge in Finance, Accounting, Marketing, Multiproject Management, International Law and Human Resource Management so they can consider commercial consequences of business decisions. - 5 Engineering Modules adapted to each specialization which provide insight into the newest research topics. They convey current and state-of-the-art methodology necessary to master the scope of innovative technologies. Program Specializations - Production and Operations Management - Management of Product Development - Embedded Systems Engineering - Financial Engineering - Information Engineering The programs conclude with an independent Master Thesis which allows participants to work on a project reflecting their own company’s needs and its specific business environment.

5 – 15 32% 36% 6

Program Structure Program Language: English Program Duration: 18 months Program Structure: part-time; 10 modules of 2 weeks + Master Thesis of 4 – 6 months Program Cost: 30.000 € Academic Degree: M.Sc. of the Universität Karlsruhe (TH) Admission Requirements - Bachelor, Diplom (Uni/FH/BA), Master - Min. 3 years of work experience with according references - TOEFL score of at least 250 cb or equivalent - Optional: GMAT, GRE or HECTOR School Assessment Program Start - March 15, 2010 Application Deadline Dec 15, 2009 - September 19, 2011 Application Deadline May 31, 2011 Contact Details HECTOR School of Engineering & Management Intern. Department Universität Karlsruhe (TH) Schlossplatz 19 76131 Karlsruhe/ Germany Dr.-Ing. Judith Elsner Managing Director Tel. +49 (0)721 608 7880 Email: elsner@hectorschool.com Eva Hildenbrand Assistant Managing Director Tel. +49 (0)721 608 7891 Email: hildenbrand@hectorschool.com Dr. Birgitta Kappes Head of Admission Office Tel. +49 (0)721 608 7885 Email: kappes@hectorschool.com

International Networking Participants are coming from 20 different countries and form a close intercultural network, supported by learning journeys and workshops with cooperating universities in ASIA and the US.

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IE Business School - Madrid www.ie.edu/business

TESTIMONY

SCHOOL

Alexei Denisov, Russia

International Executive MBA 2005 First Deputy Chairman of the Board Sobinbank Intercapital “The knowledge I got during tuition in IE helps me systemize my previous business experience. It helps me to get holistic vision in business processes in companies. Now I can see "weak parts" faster and more precisely, and I have a set of tools to react and prevent potential problems. ”

IE Business School, founded in 1973 by a group of entrepreneurs, has quickly risen to the top of the international business school rankings, earning itself a reputation for innovation and quality, and is accredited by AMBA, AACSB international and EQUIS. IE's unique approach focuses on the entrepreneurial spirit and is dedicated to the business world at large. With over 80 nationalities on campus, and more than 100 nationalities represented in its global network of alumni, the IE experience is a truly international one. International Executive MBA Program Catering to the international management community, the 13-month International Executive MBA offers the utmost flexibility required by the working executive. The program offers two timetabling options: - Online (predominantly online, combined with periods of face-to-face training) - Bi-weekly, a presential, part-time schedule (with classes held in Madrid every-other week) IE Business School’s International Executive MBA allows you to earn a quality and prestigious MBA without having to leave your place of residence for prolonged periods of time, or neglect your personal and professional commitments. Both versions feature sessions held in Madrid and in Shanghai. These face-to-face sessions

consolidate the work done throughout the program with seminars focused on skillbuilding activities, the presentation of individual and group projects, and assessment tests. Equipping you with the knowledge and tools that today’s top-level company executive requires, the International Executive MBA is consistently ranked highly in the top business school rankings including the Financial Times and The Economist. Skill-Set The International Executive MBA helps students to develop a strategic, global mindset, and furnishes them with a comprehensive understanding of the latest management tools. As a student you will also develop the communication, decision-making, and changemanagement skills required by a leader in today’s fast-moving business world.

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PROGRAM

DATA & contact details Rankings Financial Times Executive MBA Ranking 1st in Europe, 5th worldwide October 27 2008 Business Week, Executive MBA Ranking 1st in Europe, 15th worldwide November 2 2007 Economist Intelligence Unit Distance Learning MBA Ranking 2nd worldwide January 23 2008

Entrepreneurship With 15% of its graduates going on to form their own successful businesses, IE Business School is the place to hone your entrepreneurial skills. Founded by entrepreneurs for entrepreneurs, IE has always thrived by promoting an entrepreneurial outlook in its students. All of the programs offered at IE are infused with the entrepreneurial spirit, which we believe promotes change and enriches the society in which we live. We believe that you will benefit greatly from the entrepreneurial approach regardless of your career path.

Testimony

Innovation IE Business School is committed to catering to the needs of the business world. To this end IE works to promote innovation in business education, embracing new methodologies, constantly updating and revising its programs to keep up with a dynamic business world, as well as retaining a dynamic outlook as a pioneer in international business. The program provides you with a solid working knowledge of the most innovative business management techniques, with an emphasis on new technologies. It also familiarizes you

Dr. Patricia Geller Germany International Executive MBA 2005 Development Manager-Europe, Middle East, Africa Abbott GmbH “Coming from Medicine and Natural Science, the program helped me to get the theoretical background to match my responsibilities as a manager in an international biotech company. The heterogeneous international class and professors broadened my view for cultural aspects in business and helped me to develop personally.”

with the kind of management skills that are increasingly paramount to professional success. International Outlook Behind every top professional there is a solid network of contacts. Students on the International Executive MBA program will have the opportunity to share experience and build a network with like-minded professional from a hugely diverse range of professional backgrounds. The IE Alumni network, which spans over 100 countries and boasts over 37,000 members, is a powerful resource to obtain feedback and mentoring on your career objectives, access to new business circles and investors, and introductions to recruiters in top companies worldwide. The Online Version Lasting 13 months, the International Executive MBA online combines two, 22-week online training periods with three, 2-week face-toface training sessions held in Madrid and Shanghai. The online methodology allows you to follow the program regardless of your geographic location; wherever there is an internet connection, you will be able to keep on top of your studies. The Bi-weekly Version The International MBA bi-weekly consists of presential classes held on campus at IE on Friday evenings, and Saturdays. As in the online version, the bi-weekly version provides the flexibility you need to pursue your career whilst simultaneously studying for an MBA, without neglecting your personal life. Whichever timetabling option you choose, IE’s fundamental principles of innovation, excellence, and entrepreneurship will benefit you, honing your skills to make you a valuable asset to your company and furthering your professional competencies.

Student Profile Average class size: 30 Average age: 37 (range 30-42) Average years work experience: 11 Previous studies : - Business : - Engineering : - Social Sciences : - IT : - Sciences : - Law :

33% 30% 14% 10% 7% 6%

Nationalities : Canada, Croatia, Germany, United States, Belgium, Great Britain, Spain, France, The Netherlands, India, Italy, Japan, Mexico, Norway, Portugal, Romania, Russia, Switzerland, Thailand Regional breakdown : Europe : Latin America : North America : Asia & Africa : Starting dates :

52% 21% 14% 13%

June and November

Cost : €51,000 + €1,100 (the tuition fee does not include accommodation during residential periods or travel expenses) Contact : Admissions Department IE Business School Calle María de Molina 11 28006 Madrid Spain Tel: Fax: E-mail:

(+34) 91 568 96 10 (+34) 91 568 97 10 admissions@ie.edu www.ie.edu/business

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IESE Business School www.iese.edu

TESTIMONY

SCHOOL

Andreas Schroeter (Global Exectuive MBA ´08) Sales Director, Nokia Siemens Networks Colombia German

"The diversity of the participants, the dedication of the professors and the personal attention we receive from the staff were the top reasons I chose the Global Executive MBA program at IESE."

IESE’s Global Executive MBA is a transformational experience geared for middle-to-senior level managers who are looking for the skills that will allow them to succeed in a global environment. This highly exclusive program, offered in a monthly and bimonthly format, attracts participants from all over the world, maintaining the highest levels of academic rigor and professional relevance. IESE Business School: Consistently ranked among the world’s leading business schools. With campuses in Barcelona and Madrid, IESE offers a wide range of programs for managers and executives, including the Global Executive MBA. The school also offers the full-time MBA, Executive MBA, the PhD in Management and a wide range of executive education offerings.

A Worthwhile Investment In an independent survey conducted by the EMBA Council , the program is clearly amongst the best, consistently scoring higher than peer programs, particularly for faculty, curriculum, teaching methods and administration. Some highlights of the survey also show:

TESTIMONY

In the 2008 ranking of "The Economist Intelligence Unit", IESE Business School was placed 2nd in the world. In the 2009 Financial Times ranking, IESE's Executive Education Programs ranked 3rd in the world.

Isabelle Orhan

The Global Executive MBA Experience The Global Executive MBA is designed to develop high-potential executives by combining the rigors of a top full-time MBA with the flexibility of a part-time program.

"The people-first approach is what sets this program apart from the rest. The staff and professors apply this to everything they do. You really see it. The program teaches you that a strong leader does not manage people - he or she influences them."

With two flexible modular formats to choose from, (Monthly or Bimonthly), the program is compatible with personal and professional obligations. Modules revolve around Residential Sessions (either 1 week a month or 2 weeks every 2 months), which are reinforced with Distributed Learning via IESE’s Global Campus Platform. The tools and ideas acquired in class can be applied directly to the workplace, assuring an immediate benefit to both participants and their companies.

(Global Executive MBA ´09) Marketing Director, PROMENS S.L. French

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TESTIMONY

PROGRAM

DATA & contact details

Dmitri Zaitsev

(Global EMBA ’10 Monthly) Partner Accenture Russia Ukraine “During the program, you gain a holistic view of the organization, which gives you a broader perspective and helps you make decisions faster and more

TESTIMONY

effectively.”

Joelle Frijters (Global EMBA '08) CEO, Improve Digital The Netherlands

“The Global Executive MBA has been vital for me in growing my international company. I have learned how to better evaluate business opportunities in a global environment.”

- 95% of IESE grads cited greater ability to be promoted as a result of the program (compared with 70% average for all those surveyed) - 89% received new responsibilities from their employer (53% average) - 68% earned a promotion (41% average) - Salaries increased by 36%, versus 21% increase for peer programs. Program Strengths The program, amongst other things, builds: - effective management skills and business expertise - a multi-disciplinary global vision - cross-cultural team working skills - responsible leadership capabilities - a people-focused work ethic - greater confidence both personally and professionally Consultation and Hassle-Free Application To help busy executives find the programs that best suit their needs, IESE's team of admissions mentors works with applicants, from defining their needs and recommending the right programs for them, to guiding them along the admissions process, making it as easy and hassle-free for them as possible. To arrange your consultation, contact globalemba@iese.edu.

Global Executive MBA At A Glance: Duration: - Bimonthly format: 17 months - Monthly format: 22 months Format: Modular structure with home-based learning supporting residential sessions - Bimonthly format: 15 day residential sessions taking place every 2 months - Monthly format: 5 day residential sessions taking place every month Locations: - Bimonthly: Barcelona, Madrid, Silicon Valley and Shanghai. - Monthly: Barcelona, Madrid, New York and Bangalore Key Focus: General management, global scope, leadership skills, personal development Class Profile: - Class size: 40 - Countries represented: 25-30 - Industries represented: 15-20 - Average age: 37 years - Average work experience: 12 years - Percentage international: 80% - Percentage of working abroad: 50% Job titles of recent participants: President, General Manager, Chief Financial Officer, First Deputy Chairman, Managing Director, Business Director, Sales Manager, Marketing Director, Consultant, Operations Manager, Purchasing Manager. Cost: 87.800 Euros Includes tuition, all course materials, most meals during residential sessions and access to Business Center. We assist participants with hotel arrangements. Application Deadline: All applications accepted on a rolling basis: Round 1: 1 December 2009 Round 2: 1 February 2010 Round 3: 8 March 2010 Round 4: 26 April 2010 (final deadline for 2010 Bimonthly intake) Round 5: 31 May 2010 Round 6: 5 July (final deadline for 2010 Monthly intake) Contact Details: Tel: +34 93 253 4248 / 4252 E-mail: globalemba@iese.edu Web: www.iese.edu/globalemba

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INSEAD (France and Singapore)

ExecMBA

www.insead.edu/emba SCHOOL

DATA & contact details INSEAD Executive MBA programme structure: Fontainebleau – 3 x 2 week modules 4 x 1 week modules. Singapore – 1 x 2 week modules (12 weeks in total)

Testimony

As one of the world’s leading and largest graduate business schools, INSEAD brings together people, cultures and ideas from around the world to change lives and transform organisations. This worldly perspective and cultural diversity are reflected in all aspects of our research and teaching. The school’s two campuses in Asia and Europe and our two centres in the Middle East, 137 renowned faculty members from 32 countries inspire degree participants – MBA, Executive MBA (EMBA) and PhD – and executives from the world’s leading companies. Across this comprehensive range of programmes, our participants are drawn from more than 100 countries and represent Global Head, all continents. Today’s organisations Center of Expertise People and need leaders with the knowledge and Organizational Development sensitivity to operate anywhere in Pakistani. Switzerland the world. This is why business turns to INSEAD – to develop the next generation of transcultural leaders. INSEAD Executive MBA – You’ve made a mark. You’re motivated. You’ve hardly begun

“What I wanted from an EMBA beyond intellectual development was the ability to be engaged at a deep level of emotion and self-awareness. I wanted it to help me recast my life into a coherent story that would flow into a really purposeful future. What the INSEAD EMBA offered met my stringent criteria, as it had the right blend of marquis brand, intellectual rigor, leadership edge, and emotional content in a format that was logistically perfect for my lifestyle. It was an easy decision. The quality of the students was exceptional, and sitting through a class discussion was like absorbing dozens of years of wisdom in a few minutes, not to speak of the friendships that we forged. Dividing our time between Fontainebleau and Singapore reinforced the sense that our evolution was taking place against a truly global backdrop. The EMBA has been instrumental in giving me the mindset, skills, and confidence to take what I do to a much higher level that I ever thought possible. And this is just the beginning! “

Due to its modular format compressed into 15 exhilarating months, INSEAD’s EMBA programme gives high achievers the chance to earn an MBA while they work. This is no “parttime” MBA. It’s an MBA targeted at thoughtful, experienced and motivated business people who want to further their career and personal development. Participants need an international mindset, strong analytical skills and emotional maturity. Crucially, they have leadership potential. In a dynamic environment, the programme gives successful, ambitious executives the skills to become business leaders. Their international outlook is also developed as participants in Europe and Asia come from some 30 countries. Without disrupting their careers, participants spend time in both Fontainebleau and Singapore, with the opportunity of attending an optional module in Abu Dhabi. There is also another option with our dual degree EMBA programme offered by INSEAD and Tsinghua University in China and Singapore, focussing on Asia. (http://tsinghua.insead.edu.sg/). Participants from both programmes meet for a joint elective module, extending further networks and cultural insights.

Student Body: Average age: 36 Average work experience: 11 years Nationalities: 29 INSEAD Alumni Network: Executive MBA participants are part of INSEAD’s worldwide alumni network of over 38,000 people living in 160 countries. Tuition fees* €90 000 for 2010-2011. Includes all academic materials, LDP coaching, library access, coffee breaks, lunches, some dinners, selected social functions, and technical facilities. * Tuition fees subject to change. Deadlines for October 2010 (class of 2011) are: 1st round 16 March 2010 2nd round 18 May 2010 3rd round 30 June 2010 4th round 1 September 2010 Contact Details: • Europe Campus INSEAD Executive MBA Office Boulevard de Constance 77305 Fontainebleau Cedex France Hilde Deschoemaeker Tel: +33 1 60 72 90 54 E-mail: hilde.deschoemaeker@insead.edu Patrick Parker Tel: E-mail:

+33 1 60 72 42 97 patrick.parker@insead.edu

• Asia Campus INSEAD Executive MBA Office 1 Ayer Rajah Avenue Singapore 138676 Mr. Cary Chan Tel: E-mail:

+65 6799 5356 cary.chan@insead.edu

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ExecMBA

Kellogg-WHU Executive MBA www.kellogg.whu.edu SCHOOL

DATA & contact details Class profile (recent class) : Class size : International students : Average years work experience : Average age :

Testimony

Testimony

The highly successful Kellogg-WHU Executive MBA Program is jointly offered by the world renowned Kellogg School of Management, Northwestern University (Chicago, USA) and WHU Otto Beisheim School of Management (Vallendar, Germany), one of the best business schools in the German speaking area. It is particularly suited to candidates with at least 5 years of work experience with team leading or senior project management responsibilities who wish to enhance their global leadership skills and enter top management positions.

Tanja Dreilich Member of the Management Board and Executive Committee, CFO, Nordzucker AG, EMBA 2005 "The Executive MBA was a highly challenging and motivating crossfunctional, crosscultural, global leadership training that exceeded my expectations by far. The combination of world-class faculty and excellent participants extended and shaped my skills of coping with ambiguity and diversity in global business. It sharpened my focus of developing a superior strategy and allowed me to drive and make a positive impact on the growth and net income of my company."

Now in its 13th year the program was ranked 12 in the world in the Financial Times Ranking 2008 and was placed 3rd in Europe in the same ranking. It is part of the global Kellogg-EMBA which is among the best in the world. In the first EMBA-ranking of the Wall Street Journal Kellogg-EMBA took 1st place. The program utilizes the most up to date global management techniques to broaden our participants’ professional and social skills, and has a strong emphasis on team leadership whilst maintaining a general management focus in a high performance environment. Join the Kellogg Global EMBA Experience The Kellogg School of Management Global EMBA family of currently about 55,000 alumni stretches across Europe, Asia, Middle East, the USA and Latin America. Take a step up your career ladder and join us here in Europe for the Kellogg-WHU Global MBA experience. Upon graduation, you’ll become part of the Kellogg worldwide alumni association – and you’ll profit by this outstanding network, wherever you may find yourself in the world.

50 57% 8 36

Admission requirements : Candidates must hold a good first degree from a recognized higher education institution, have a minimum of 5 years management level work experience, be in full-time employment and have the company’s agreement to provide the time away from work. We require fluency in English (minimum TOEFL score of 100 internet based or IELTS 7.0). Admission process : - Submit full application pack - Two personal interviews - One group interview See our website for further details Admissions Deadline : 31 July (rolling admission) Start Date : Mid September each year Fees : 68,000 € (includes tuition, books, accommodation and meals during international modules, meals during Germany-based modules) Contact : Kellogg-WHU Executive MBA Program Burgplatz 2 56179 Vallendar Germany Phone: Email: Web:

+49 261 6509 186 emba@whu.edu www.kellogg.whu.edu

Franz-Joseph Miller Chairperson of the Board of Directors, time:matters Holding GmbH, Germany, EMBA 2001 "My EMBA has definitely helped me to grow my general management perspective. The program provided me with great tools to face the challenges of an entrepreneur and of managing in a corporate environment, both during growth as well as in the current crisis. The network was a great source for ideas and know-how as we planned and executed a leveraged buy-out and following M&A and internationalization activities."

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Melbourne Business School The University of Melbourne

ExecMBA

www.mbs.edu/emba SCHOOL

DATA & contact details Student Profile: Class size: 30-40 Percentage Women: approx. 25% Percentage International: approx. 10% Average Years Work Experience: 18 years

Testimony

The Melbourne Business School (MBS) is one of the largest business schools in the Asia-Pacific region and a leader in management education. We focus on preparing future leaders for taking their place on the world stage. MBS is jointly established, owned and led by corporate Australia and the University of Melbourne.

Trista Brohier Financial Controller Sigma Pharmaceuticals Ltd Executive MBA Class of 2008 “The EMBA has not only given me the tools and frameworks to make critical business decisions but access to a peer network of senior business professionals to support me through my studies”

The Melbourne Executive MBA (EMBA) program is an innovative international experience designed for senior managers – those with 10+ years of work experience, including significant managerial experience and a track record of professional career progress. It offers an experience like no other, through: · a unique structure of four one-month fullyresidential intensive modules over 14 months · limited numbers (30-40 in each intake) · separating study from work and personal commitments (participants return home and to their workplaces and apply their learning between modules, with no formal study requirements during the intervals) · a global ‘classroom’ - Australia, USA, Germany and China · a demanding, exciting and creative program with a diverse range of learning methods (varying from interactive class discussions, case studies and group problem solving to experiential activities and formal presentations) · leading faculty from around the world · a true executive peer network of like-minded professionals · participants who bring real experience and current business situations to the classroom, analyse key principles and test management concepts. Graduates receive a Master of Business Administration (MBA) degree from the University of Melbourne, recently ranked one of the world's top universities.

Price A$96,000 - includes tuition, text books and study notes, accommodation and most meals on class days for the four modules, along with Melbourne University, Kellogg School of Management and WHU fees. Excludes travel costs associated with the international module, such as airfares to the USA, Germany & China, airport transfers and incidental costs such as visa(s) and travel insurance. Students are responsible for the cost of their meals during free time throughout the program and some meals on class days during the international module. Other incidental expenses incurred during the modules such as telephone, laundry, car parking, alcohol and other personal charges must be covered by the student. Students located outside Melbourne are also responsible for their travel costs to and from Melbourne for the three MBS based modules. Admissions Requirements - Resume or curriculum vitae indicating a minimum of ten years full-time work experience - An undergraduate degree (in any discipline). Please provide evidence in the form of fully certified academic transcripts. Those without formal tertiary qualifications should contact the EMBA office to discuss their options. - The names and contact details (phone and email) of two referees - Considered responses to questions about yourself and your goals in support of your application - GMAT may be required Note: Applications are submitted online Application Deadline: October 2010 intake – 31 July 2010 Contact EMBA Office, 200 Leicester Street Carlton VIC 3053 Australia Phone: Email: Web Address:

+ 61 3 9349 8413 emba@mbs.edu www.mbs.edu/emba

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Moscow School of Management SKOLKOVO

ExecMBA

www.skolkovo.ru SCHOOL

DATA & contact details Deadline date 01 November 2009 Programme Length 18 months Tuition Fees 90 000 EUR (3 780 000 RUR) – all inclusive

Testimony

Moscow School of Management SKOLKOVO is a joint project between major International and Russian business leaders, who have pooled their efforts to establish a new and innovative management school geared toward business in rapidly changing markets. Being realized in partnership with the government of the Russian Federation, SKOLKOVO is a part of the national priority projects programme, but is funded exclusively by private business. Dmitry Medvedev, the President of the Russian Federation, is the Chairman of the SKOLKOVO International Advisory Board. SKOLKOVO is a dynamically developing international business school, which focuses on developing a new type of manager — leaders who will be in demand in the 21st century, which is the age of human resources and the age of rapidly changing global markets. SKOLKOVO’s mission is to help successful people become more successful and to develop people who are able to develop themselves and the world.

Sergey Zhukov Director and General Counsel, Legal and Compliance Department, Bank Credit Suisse, Moscow

“The major benefit of the programme is my ability to receive new knowledge from world class faculty without the need to regularly travel aboard to attend courses.”

SKOLKOVO 18-months EMBA Programme targets top-managers and small and medium business owners with demonstrated management skills and strong leadership potential. The programme focuses on developing the participants’ leadership skills. The faculty who teach various courses of the EMBA Programme include not only SKOLKOVO professors, but also leading professors from top world business schools.

The SKOLKOVO EMBA Programme includes a unique course entitled “Leadership Practice”, which focuses on developing the participants’ leadership skills. During the length of the course programme, participants work with their personal coaches and adhere to their individual development plans. Students selected for the SKOLKOVO EMBA Programme become part of a unique community of interesting people and outstanding professionals: professors; representatives of the business sphere; government; sports; science and culture; including SKOLKOVO founders and partners.

Average age 33 Average years professional experience 7 % International students 40% % Female students 25% Contact Moscow School of Management SKOLKOVO 1st Kadashevsky pereulok 10, bld. 3 Moscow 115035, Russia Phone: Fax: E-mail: Web:

+7 495 580 30 03 +7 495 580 30 03 emba@skolkovo.ru www.skolkovo.ru

SVETLANA RAKUTINA EMBA Programme Director svetlana_rakutina@skolkovo.ru

The SKOLKOVO EMBA Programme runs for 18 months and consists of 16 modules, which allows its participants to improve their professional skills while still working full-time. The applications to the programme starting in January 2010, will be accepted until November 1, 2009. During the application period, SKOLKOVO will deliver EMBA informational sessions where potential students will have an opportunity to meet with the SKOLKOVO EMBA team and learn more about the programme. The next information session will be held on 25 August (St. Petersburg, Russia), 09 September (Moscow, Russia), 17 September (Nizhny Novgorod, Russia), 23 September (Moscow, Russia), 06 October (Kiev, Ukraine). Full a full list of information sessions see www.skolkovo.ru. Meet this program at the

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The Open University Business School

ExecMBA

www.oubs.open.ac.uk SCHOOL

DATA & contact details Requirements: • A bachelors or masters degree from a university or other recognised degree awarding body. • Minimum of three years’ experience in a managerial, professional or technical role

Testimony

Gaining an MBA is rewarding both personally and professionally. Since we started in 1983 we've helped over 20,000 managers fulfill that ambition. Our MBA program is designed for practicing middle and senior-level managers. It has a strong international focus, with emphasis on strategic analysis, interdisciplinary skills and creativity and innovation.

Maggie Miller CIO Warner Music Group ‘The MBA gave me valuable life lessons about priorities. The different courses also helped me to acquire the beginnings of a common language in which to communicate with professionals outside my chosen fields, and I now have an appreciation of these professions and their challenges and am better able to understand how my own area can contribute to their success.’ ‘One of the delights was the calibre of my fellow students. By definition, anyone studying with the Open University is self-motivated. I remember being in a residential school in Holland where there were students from 13 different countries, including people with nine different first languages, all studying and debating in English. It was a humbling experience. I remember thinking that if I had to be marooned on a desert island this would be a great group to be there with.’

Quality program content, faculty and materials You won’t need to hunt for third party texts to supplement the teaching materials - all the core elements you need for study are provided, and you will be supported by your personal tutor and online course forums. You benefit from knowledge specially developed to meet the needs of management today and tomorrow, locally and globally. Among our many corporate sponsors of MBA students are AstraZeneca, MoD, IBM, Norwich Union Plc and Rolls Royce Plc. Study with peers worldwide and become part of a global network The Open University Business School’s practice-based learning system provides more individual contact with tutors and other students than many traditional face-to-face programmes. If you are looking for international exposure, you can join online forums to exchange views and practice with people studying throughout the world. Your peers will be career orientated people who are motivated to grow in knowledge and experience and with the skills necessary to engage in stimulating discourse. At face-to-face seminars and residential schools, you will team up with learned and experienced professionals contributing proactively for the benefit of the whole group. Upon graduating, you automatically become part of The Open University Business School MBA Alumni Association and a member of its worldwide community of over 20,000 graduates.

Format: The program is delivered through supported distance learning modules combined with face to face tutorials, residential schools and extensive online support. Duration: The duration of the program is flexible and based on the time you can allocate to your studies. The recommended route through the program takes 3 years part-time. (Estimated 12-16 hours of study per week) Student Profile: Tutor/ Student Ratio Average Age Average Years Work Experience Percentage Woman Percentage International

1:16 37 14 41% 40%

Price: App. £14,630 - £12,120* The tuition fee includes tutorials, books and residential schools. Travel to and from residential schools and tutorials is not included in the tuition fee. *Depending on electives chosen Contact: The Open University Business School Walton Hall Milton Keynes MK7 6AA Phone: +44 (0)845 366 6035 Email: OUBS-ilgen@open.ac.uk Web: www.oubs.open.ac.uk

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ExecMBA

TRIUM Global Executive MBA

www.triumemba.org/worldmba SCHOOL

DATA & contact details

Testimony

TRIUM is the only Executive MBA program to provide a truly global educational curriculum, made possible through a unique alliance of three world-renowned universities: New York University Stern School of Business (NYU Stern), the London School of Economics and Political Science (LSE) and HEC School of Management, Paris (HEC Paris).

Chris Burggraeve Chief Marketing Officer Anheuser-Busch InBev, TRIUM Class Of 2005 "The TRIUM classroom often feels like a board room where some of the best minds from different industries come to analyze and debate the global challenges at hand. For me, TRIUM was really the only fit for my goals. At this stage of my career, I did not want to go back to school to learn basic accounting and statistics. I wanted to think about the challenges facing my business in an applied, practical way with people who are operating at the same senior level as I am."

The TRIUM Global Executive MBA Program is divided into six intellectually rigorous modules held in five international business locations over a 16-month period. TRIUM's interactive distance-learning platform, "Ed Web," fosters a continuous educational community between the modules. Truly global A TRIUM class is comprised of experienced senior executives who live and work all around the world. Classes are taught exclusively in English by faculty members from all three partner schools. During each module, regional academic and industry experts are invited to speak by TRIUM faculty to further enrich the curriculum. TRIUM is the only Global Executive MBA program to integrate an international socio-political, economic dimension into its MBA curriculum. LSE, the leading social science institution in the world, brings its unparalleled expertise in this arena to the program.

Class of 2010 Overview Class Size: 65 Percentage Women: 20% Nationalities Represented: 30+ Average Years Work Experience: 15 Fees US $129,500 Includes tuition, lodging in guest modules, lunch and group dinners, books and materials. Admissions Requirements • Application Form, Resume and $180 Fee • Five Essays • Official Transcripts • Two Letters of Recommendation • Organization Sponsorship Form • GMAT Test, if required • TOEFL, if required • Minimum of Ten Years of Professional Experience • Admissions Committee Interview Application Deadline: Rolling Admissions Start Date: September 2010 Contact TRIUM Global EMBA Program 44 West Fourth Street, Suite 4-100 New York, NY 10012, USA Phone: Web: Email:

+1 212 998 0442 in USA +33 1 39 67 70 94 in Europe www.triumemba.org/worldmba info@triumemba.org

Customized, integrated curriculum The TRIUM curriculum is tailor-made for international executives. The modules are designed to seamlessly build upon one another, ensuring that the curriculum, which draws upon the unique strengths of each school, is delivered in a unified and complementary way. Prestigious global credential Graduates of the TRIUM Global Executive MBA will be awarded a single MBA degree, issued jointly by all three schools. Access to the broadest, most international alumni network TRIUM Global EMBA alumni will have access to three diverse and powerful alumni networks -NYU Stern, LSE and HEC Paris, in addition to the TRIUM alumni network. Meet this program at the

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Statistical Review of Executive MBA programs School name

Country

Date established

Start date

IAE Management and Business School

Argentina

1978

Mar/Aug

Melbourne Business School

Australia

2002

Oct

Vienna University of Economics and Business / University of Minnesota, Carlson

Austria

Solvay Business School

Belgium

1990

Sept

Vlerick Leuven Gent Management School / Amsterdam Business School

Belgium

1968

Jan

FIA - Fundação Instituto de Administração

Brazil

1992

Concordia University, Molson

Canada

Deadline date

Length (months)

July

14

$ 96,000

14

€ 37,000

24

€ 24,780

18

€ 29,500

24/15

Apr Aug

Feb, Aug June

Fees (local)

Aug

18

$ 67,230

20

C$ 52,000

Kellogg / York University, Schulich

Canada

2002

Jan

18

C$108,000

Queen's School of Business

Canada

1992

Aug

15

C$ 84,000

University of Toronto, Rotman

Canada

1981

Sept

rolling

13

C$ 85,000

University of Western Ontario, Ivey

Canada

1991

Sept, Feb

rolling

17

C$ 85,000

CEIBS

China

1995

Mar

May, Nov

24

RMB 408,000

Chinese University of Hong Kong

China

1993

Aug

Mar

24

HK$ 369,600

Kellogg / Hong Kong UST Business School

China

1998

Jan

Sept

17

HK$ 840, 000 (US$ 108,000)

Copenhagen Business School

Denmark

1994

Jan

rolling

22

DKK 260,000

Helsinki School of Economics

Finland / S. Korea / Singapore

1988

Mar

Jan

20

€ 32,300

EM Lyon

France

1997

Sept

12

€ 29,500

ESC Lille

France

2002

Sept, Mar

rolling

12 to 24

€ 19,500

ESSEC & Mannheim

France / Germany

1993

Apr (weekly), Oct (modular)

rolling

18/19

€ 46,000, € 42,500 (Paris weekly), € 42,000 (Mannheim weekly)

HEC School of Management

France (China & Russia)

2003

Varies with format

rolling

16

contact HEC

INSEAD

France / Singapore

2003

Oct

Sept

15

€ 90,000

ESCP Europe

France / UK / Germany / Spain / Italy

1993

Jan

Dec

18

€ 42,000

TRIUM Global Executive MBA

France / UK / US

2001

Sept

rolling

16

$ 129,500

HECTOR School of Engineering and Management

Germany

2005

Mar

Dec

18

€ 30,000

Kellogg -WHU Executive MBA

Germany

1997

Sept

July

12

€ 68,000

University College Dublin, Smurfit

Ireland

1964

Sept

Dec, Feb, Mar, May, Jul

24

€ 29,500

IPADE

Mexico

1991

Rotterdam School of Management, Erasmus University

Netherlands

1991

Jan

Dec

24

Moscow School of Management, SKOLKOVO

Russia

2009

Jan

Nov

18

RUR 3.780,000

National University of Singapore

Singapore

1997

May

15

$ 84,800

IE Business School

Spain

2001

Jun, Nov

rolling

13

€ 51,000 + € 1,000

IESE Business School

Spain

2001

May (bi-monthly), Aug (monthly)

Apr, Jul

22

€ 87,800

Stockholm School of Economics

Sweden / Russia / Latvia

1992

Oct,Mar

IMD

Switzerland

1998

various

National Chengchi University - International MBA

Taiwan

National Taiwan University - College of Management

Taiwan

24 € 42,000

24 Sept Jan (local) or April

1997

15

CHF 126,000

24

NT$ 909,600

24

NT$ 652,500

Ashridge

UK

1993

Sept

rolling

24

£ 32,350

City University, Cass

UK

1982

Feb/Sept (evening), May (modular)

May

24

£ 39,000

rolling

Cranfield School of Management

UK

1981

Jan

24

£ 28,000

Durham Business School

UK

1991

Jan

24

£ 16,500

Henley Business School

UK

1975

Sept

33

£ 39,950

Imperial College Business School

UK

1987

Apr, Dec

21/24

£ 37,000 (weekends module), £ 35,500 (weekdays)

London Business School

UK

1983

Sept, Jan

University of Edinburgh Business School - Part-time MBA

UK

1984

Sept

Sept, May

20

£ 47,700

30

£ 17,300

Warwick Business School

UK

1993

Mar, Oct

Jan, Aug

36

£ 8,000 per annum

Bradford School of Management/TiasNimbas, Tilburg University

UK / Netherlands / Germany

1999

Mar

Dec, Feb

18

€ 52,500

University of Strathclyde Business School

UK / Switzerland

24

CHF 62,000 (in advance) or CHF 65,000 (in 4 instalments)

Baylor University, Hankamer - Dallas program

US

1991

Aug

June

21

$ 77,500

Boston University School of Management

US

1987

Jan

Sept, Nov

17

$ 79,500

Brigham Young University, Marriott

US

1983

Aug

Dec, Jan, Mar, May

23

$ 41,000

College of William and Mary, Mason

US

1966

Jan

Nov

20

$ 74,500

Columbia Business School

US

1945

Sept, Jan

Jun, Oct, Nov

20

$144,000

Cornell University, Johnson

US

1999

Juy

rolling

22

$133,600

20

$ 74,000

18

$ 135,500

Apr, Oct

Drexel University, LeBow

US

1997

Sept

Duke University, Fuqua

US

1996

Apr

62

Mar

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from around the world Course format

Course Language

Class Size

Average Age

Avg Prof Exp (yrs)

Min Prof Exp (yrs)

Mon or Fri and Sat / Thr,Fri, Sat

English/Spanish

32

9

4 one-month resid. modules

English

30-40

40

18

10

part-time, 3 int'l field studies

English

30-40

38

13

5

2 or 3 evenings a week + Saturdays

English

3 mgmt

Sat&Sun every third weekend + resid. blocks

English

34

% Female

% Bus Degree

73

Fri&Sat bi-weekly + int'l conferences

Portuguese/English English

40

38

16

10

25-30

late 30s

15

5 modules, 2 resid. Periods + Fri-Sun bi-weekly

English

5

Fri&Sat bi-weekly

English

37

15

Fri&Sat bi-weekly + resid.

English

38

15

15 courses, 4 days once a month

English

50-55

39

15

7

once a month, Fri-Mon

English

58

37

12.6

8

10 core courses + 6 electives, Fri&Sat

English/Chinese

50

14

7

500 minimum in some cases

50

30

not required

29

50

required 550 minimum

required

13

in some cases required 43

Fri, Sat, Sun + Live-in weeks

English

50-60

37

Fri&Sat twice a month

English

40-45

37

12

4

40

14

8

English English

30

31

7

English

25

33

7

modular, 1 module every 6 wks, weekly, 2 wks per month, Fri&Sat

Eng/Fr/Eng

35

11

1 day per wk/modular/end of week

Eng or Fr/Eng

39

15

global, modular, 12 week resid. (8 France, 4 Singapore)

English

36

11

6 part-time core-courses

English

70

35

500 mininum

70

25

in some cases

67

22

required

43

in some cases

24

in some cases

30

not required

10

work and study (1 week/month)

GMAT

25

3

alt. Fridays and Saturday + int'l trip + exam days

4 two-week modules + 2 one-week rotating moduls

% Local Students

65

required

25 3

35

8

50

10

5

15

10 (5 senior mgmt)

required 50

50

not required

30

recommended

15

required

20

if under 15 yrs of exper.

required

English

65

39

part-time, 10 module of 2 weeks + Master Thesis project work

English

5-15 per pgm

30

6

3

64

32

40

not required

12 weekends, 6 live-in weeks

English

50

36

8

5

46

20

39

not required

midweek evening format / weekend format

English

40

35

10

30-40

Mon and Frid every week + int'l trip bi-weekly, Fri&Sat

English 33

7

5

10

18

6 two-week segments

English

45

38

14.5

English

30

35

11

part-time, resid. sessions + online distance learning

English

40

37

12

65

39

English/Swedish

full time or part-time

English

37

30

18 courses, 3 per term 1 week Sun-Sat each month

English

2 evenings per week or monthly block weekends

English

, up to 100

part-time or modular

English

4-day blocks every six week

English

3 or 4 days a month + int'l study trips

English

Thr-Sun (weekend module) / weekdays module

English

Fri&Sat, alt.weeks

English

2 evenings a week + 1 Sat per semester

English

36-40

32

77

required

200

Bi-weekly / Online

English

550 minimum 15

4

English

16.5 weeks out of office + discovery expeditions

3 7 (3 mgmt)

18 7

60

44

19

33

required

36

in some cases

not required

20

5

not required

15 6

2 mgmt

10

10

12

5

50

21

required

32

not required

50

in some cases

6 35

11

3

36

10

3 mgmt

37

14

5

33 36 35

in some cases 73

27

81

12.5

range 5 - 19

23

21

11

13

5-day modules

English

40-45

6 two-week resid. sessions + onlne periods

English

45-50

10

4 mgmt

10 to 12

5

2-3 days weekend seminars once a month

English

15-20

alternate Fri&Sat + int'l study trip

English

40 max.

37

13

5 mgmt

Fri&Sat every alternate weeks + residence weeks

English

39

39

16

10

Fri&Sat bi-weekly

English

65

36

11

5 mgmt

Fri&Sat twice a month + resid. periods + int'l trip

English

35

36

12

25 courses, Fri&Sat bi-weekly

English

122

32

10

Sat&Sun on alternate weekends

English

65

35

13

3 classes per month (1Fri, 2 Sat) + resid.

English

28-32

37

16

5 terms

English

80-90

39

14

not required

15

600 minimum in some cases

69

not required

658 average in some cases

32

15 in some cases

3-4 mgmt

100

36

33 und

not required

21

15

not required

6 20 86

18 grad

25 32

10

required required required 27 45

570 minimum

35

not required

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Statistical Review of Executive MBA programs School name

Country

Date established

Start date

Deadline date

Length (months)

Fees (local)

Emory University, Goizueta - Modular EMBA (MEMBA)

US

1978

Aug

May, Jun

20

$ 98,500 (resid. option) / $ 90,200 (non resid.)

Emory University, Goizueta - Weekday EMBA (WENBA)

US

1978

Jan

Sept, Oct

16

$ 94,000

Florida International University, Chapman

US

1995

Aug

July

20

$ 54,000 (Florida resid.) or 58,000 (non-resid.)

Georgetown University, McDonough

US

1994

Aug

rolling

18

$ 100,000

Northwestern University, Kellogg

US

1976

Jan,Sept

rolling

24

$ 70,500

NYU Stern

US

1982

Aug, Jan

Apr, Jun and Oct, Nov

22

$ 137,000

Ohio State University, Fisher

US

1999

Dec

rolling

18

$ 73,500

Pepperdine University, Graziadio - EMBA

US

1969

Aug

Aug

20

Rice University, Jones

US

1998

Aug

rolling

22

$ 91,500

SMU, Cox

US

1976

Aug

Dec, Feb, May

21

$ 94,625

Temple University, Fox

US

1942

Aug

22

$ 77,480

Thunderbird School of Global Management

US

1946

Aug

Apr, Jun

17

$ 79,500

Tulane University, Freeman

US

1992

Jan

rolling

18

$ 60,000

UC Berkeley / Columbia

US

2000

May

Jan, Feb

19

$ 140,000

UCLA, Anderson

US

1981

Sept

Dec, Apr

22

$ 100,000

University of California at Irvine, Merage

US

1984

Sept

Mar, May, July

21

$ 89,500

University of Denver, Daniels

US

1989

Sept, Mar

rolling

18

$ 69,600

University of Florida

US

1993

Aug

rolling

20

$ 40,000

University of Georgia, Terry

US

2001

Sept

rolling

18

$ 69,000

University of Houston, Bauer

US

1978

Aug

May

18

$ 57,500

University of Iowa, Tippie

US

1978

Aug

rolling

21

$ 51,000

University of Miami School of Business

US

1973

Jan

rolling

23

$ 1,480 per credit hour

University of Michigan, Ross

US

2001

Aug, Jan

rolling

20

$ 125,000

University of Minnesota, Carlson

US

1981

Aug

Apr

21

$ 92,640

University of Pennsylvania, Wharton

US

1975

May

Feb

24

$ 156,600 (Philadelphia), $ 165,900 (San Francisco)

University of Tennessee at Knoxville

US

1996

Jan

July, Sept (US appl.)

12

$ 64,000

University of Texas at Austin, McCombs

US

1981

Aug

June

University of Texas at Dallas

US

1992

University of Utah, Eccles

US

1955

University of Washington Business School

US

1983

Feb, Jun

21

$ 75,075

Vanderbilt University, Owen

US

1978

Aug

May

24

$ 22,850

Villanova School of Business

US

2000

Aug

Dec, Feb, Apr, Jun

21

$ 90,000

Wake Forest University, Babcock

US

1969

Jan

Sept, Nov

24

$ 67,200

Washington University, Olin School of Business

US

1983

Apr (monthly), Sept (weekly)

July

20

$ 93,600

University of Pittsburgh, Katz

US / Brazil / Czech Republic

1972

Purdue / Tias / CEU / GISMA

US / Netherlands / Hungary / Germany

1999

Feb

University of Rochester, Simon

US / Switzerland

1995

Columbia / London Business School

US / UK

2001

University of Chicago, Booth

US / UK / Singapore

1943

Jun

64

Aug

Mar, May, July

22

$ 75,000

21

$ 75,000

21

$ 57,000

19/16/16 22

€ 52,500

Jan

18

$ 79,500

May

20

$ 136,530

21

US $134,000 (US), £ 69,000 (UK), SGD $170,000 (Singapore)

Dec

Dec, Feb, Apr

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from around the world Class Size

Average Age

Avg Prof Exp (yrs)

English

30-40

38

15

alt. weekends

English

90-110

34

11

Saturdays every week + int'l business trip

English

36

11

Course format

Course Language

eight 7-day learning modules + int'l resid.

55

37

Min Prof Exp (yrs)

% Local Students

% Female

% Bus Degree

GMAT

80

33

36

required

16

14

91 8 (5 mgmt)

13.8

in some cases

41

required

Fri&Sat bi-weekly

English

weekly, bi-weekly, monthly programs

English

alt. wkends Fri&Sat

English

Thur-Sun, once a month

English

42-55

Fri&Sat approx. every 3 weeks

English

25

Fri&Sat bi-weekly

English

Fri&Sat every alternate weekend + int'l study trips

English

3 times a month (1Fri, 2Sat)

English

30

37

14

Fri&Sat, alt.weeks + resid. session + tours

English

45-55

37

Fri&Sat bi-weekly + exam days + int'l seminars

English

32

5 terms, Thr-Sat

English

71

Fri&Sat bi-weekly + resid.

English

70-72

37

13

22

required

Fri&Sat, alt. weekends

English

106

39

15

27

optional

range 12-15 38

14

36

14

38

14

69

607 average

36

8

required 52

24

44

19 7

14

required in some cases required required

8

90

not required

12

8

76

20

26

39

16

7

69

25

31

37

12

75

21

31

required not required required required

alt. Fri&Sat + int'l study trips

English

39

15

10

30

Fri,Sat,Sun aprx. once a month + int'l trip

English

40

37

13

8

27

not required

10 weekend modules + on-site resid. + distance learning

English

50

37

14.5

5

20

Fri&Sat every alt. weekend + int'l study trip

English

Fri&Sat bi-weekly + int'l seminar

English

37

14

40 Saturdays per year

English

34

13

1 weekend per 1 month + resid.

English

38

14

Fri&Sat bi-weekly

English

alt. wkends Fri&Sat, 20-25 hrs/w outside class+ sessions

English

208

34

10

25

two-week resid. period + distance learning sessions

English

30

41

18

17

128

11

24

54

662 average

20

16

in some cases

20

required

27

5

60

37

Fri&Sat, alt. weekends

English

3 times per month, Fri&Sat, Saturdays only

English

Fri&Sat bi-weekly + 2 one-week session + int'l field study

English

60

regional alt. weekends class / North America monthly class

English

Fri&Sat bi-weekly + int'l resid.

English

Fri&Sat bi-weekly

English

37 Saturdays a year

English

monthly format, Thur-Sat, weekly format, bi-weekly, FriSat

English

bi-weekly Fri&Sat(US)/Fri-Sun (BRA), Wed-Sun once a month(CZ)

English

six 14-day resid. period

English

Fri/Sat bi-weekly + int'l resid.

English

core courses Wed-Sat once a month + int'l seminars

English

72

17 classes (2 classes per quarter)

English

90 per campus

not required required 26

13

45-50

37

14

50

36

12

30

8

in some cases not required

8

38

required required

35

6 39

not required 46

in some cases

27 11

701 average

required

not required 3

29

required not required

14 max. 60

36

10

35

12

36

13

5

16

in some cases recommended

37 28

662

23

not required

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