Campus Briefings at a Glance CEU-Budapest Appoints New Dean CEU Business School located in the Hungarian capital of Budapest has appointed Adam Teratik, acting dean since the departure of Ferc Partos. Mr. Teratik is the former regional head of Ernst & Young professional services. He is currently focusing on a 5-year business plan to increase the capabilities and brand recognition of his institution.
"I will be examining carefully how we can ensure further efficient expansion of the school without adding too much pressure to staff and faculty."
Manchester Business School opens in Dubai MBS Worldwide recently opened its new centre in Dubai with much success. The programme serves +100 students, who are studying on 3 MBS programmes: construction managers, finance professionals, and engineers. The MBA degree is awarded to all participants. This is the third MBA centre run by Manchester; the others are in Singapore and Hong Kong. Randa Bessio directs the Middle East region. *last-change*
Fashion & Luxury take centre stage in France and China Contrary to common knowledge, fashion and luxury are not just about glamour and rapid earnings. This is an extremely complex business, which thrives on managing creative talent, permanent innovation, and a permanent search for capable management with vision.
Three major institutions have put together an advanced management program in Fashion & Luxury, which will start this September 2006. The institutions involved are: Tsinghua University, the Institut Francais de la Mode, and HEC-Paris. The new programme will focus on the following key areas:
Globalisation and Innovation, Product Strategy, Communication & Retail, Value Chain and Business Models, Brand management, Luxury & Fashion Culture.
The courses are to be delivered by experts from HEC-Paris, Tsinghua SEM, and IFM. Participants will be international and constitute corporate leaders and high potential managers. The programme was officially launched in April 2006 with + 200 participants from China, France, and other countries. Invited speakers were world-renowned and included the Gucci Group, LVMH, Modern Media Group amongst others.
The focus of the forth-coming programme is to better develop knowledge of current practices in international management. The partnership has the backing of major corporate groups and constituent government authorities in France and China.
Wharton Global and Spanish schools join forces Wharton's Global Family Alliance, IESE Business School and IEF, Spain's Family Enterprise Institute have signed a four-year agreement to work together on family business research projects. These institutions have a shared commitment to promoting the importance of family business and the key role they play in the growth of the world economy.
"Combining our resources will create a formidable knowledge base that will prove beneficial not only to family firms, but to the communities in which they are invested", stated Raphael Amit, chairman of the Wharton GFA executive committee.
Tuck's Career Development Office Gets Top Marks The class of 2005 saw average total compensation of almost $150,000 reflecting more than a 30% increase over the past two years. Across the board, companies are recruiting aggressively. This strong market demand will likely exert pressure to increase compensation. With over 600 companies recruiting, key recruiters were Apple, Novartis, and Deutsche Bank. Fifty consulting firms hired Tuck graduates and 10% of the graduates joined private equity firms and investment banks.
Tuck Career Development Office predicts that the trend is upward for those people interested in strategy consulting, investment banking, private equity and other key sectors. 96% of all graduates looking for a job had at least one offer by the summer. Similarly trends are expected according to Richard McNulty, director of the CDO for the past three years.
Smith School wins accolades for executive education Executive Education at the Smith School of Business at the University of Maryland has come of age. The programme was launched in 2001 and was recently ranked by the Financial Times and other media for its distinctive approach to designing customised management programme. The programme provides a multidisciplinary curriculum that tackles the key issues of value creation and organisational effectiveness. Ranked No.4 by the FT in the category 'value for money', the school serves leading multinationals such as Lockheed Martin, Hughes Network Systems, Northrop Grumman and others.
"Our executive education programmes are of the same calibre as our top-ranked MBA and undergraduate programme", said Howard Frank, the current dean of the school, What is also clear is the high degree of satisfaction that our corporate clients and participants feel on the return on investment, the school's involvement in creating a programme that is custom-tailed to their needs and - the highest compliment- that they can't wait to come back".'
The school has an excellent reputation and recently is gaining more international praise for its management education and research for the digital economy
Ivey features cross-enterprise leadership The Richard Ivey School of Business at the University of Western Ontario has launched a new programme in Cross-Enterprise Leadership, according to Hussein Waheedi, a Canadian correspondent for Whitefield Consulting Worldwide.
"The school is a pioneer in this sector and has developed a learning approach, which is focus based, cross-functional, experiential, and action oriented. They have developed a case method, which is distinct from HBS. What I discovered from my investigations is that students are immersed in real-world problem solving where flexibility and creativity are valued.
Managers today understand that that Globalisation, Consolidation, and Technology do not fit into neat boxes with ready-made solutions. Leaders must leverage change to deliver product and service excellence. The Ivey programme trains future business leaders to do just that. By spanning an entire organisation it is possible to see how decisions are made and to take decisive action. With a top-notch faculty, potential business students should seriously evaluate one of Canada's leading MBA programmes.
Stern (NYU) turns to 'live' cases The study of luxury retailers is hot for many prospective MBAs. The subject is glamorous and attracts many candidates who would like to work for one of the major groups such as LVMH. At Stern this year, a unique approach was implemented during one of the offered courses in business strategy. Students went onsite to investigate the mechanics of luxury retailing at Barneys, a recognisable name brand for fashion conscious New Yorkers and Americans.
What made the study worthwhile were the unique conditions of the panel exchange and the quality of the participants. MBA students had the benefit to hear from the principal actors, which included a panel of Barneys executives: Kevin Dyson, Senior Vice President; Steven Feldman, Chief Financial Officer, and Shelly Greenhaus, President, Whippoorwill Associates one of the firms credited with turning around this institution.
Deputy Dean Russell Winer moderated the discussion. A wide range of topics were addressed such as the roots of a family run organisation, overcoming bankruptcy, creating a stable financial environment, and finally, how to further exploit the brand equity.
During the discussion, Steven Feldman commented on Barneys' recent expansion to Boston: "We are extremely deliberate about where we open Barneys stores, and how many we open. It is important for us to keep the essence of Barneys and maintain the integrity of the brand".
Kevin Dyson, who has been with this institution during its trials, remarked on how important it was to keep the focus on the customer; while Shelly Greenhaus added why Barneys was an attractive acquisition.
In concert with Stern's commitment to suing New York City as a laboratory for learning, the Barneys case is one of several New York case studies the school has integrated into the curriculum. During the MBA programme, students also have the chance to study 'live' cases on the Metropolitan Opera and the Mets baseball franchise.
Conference on Emerging Markets at Darden March 28-29, Darden will host the 5th annual conference on, "The Financing of Corporations in Emerging Markets" with the World Bank to be held at the bank's HQ in Washington, D.C. The Issues to be highlighted are practices surrounding the financing of corporations in emerging countries such as the challenges and opportunities, which face firms to access capital on domestic and international markets. Joseph Stiglitz, Nobel Laureate, will deliver the keynote address at the March 29 luncheon. The will be opened by the current dean, Paul Bruner, a committed believer in these developments.
"Investing in emerging markets is a powerful instrument for social change", Bruner says, adding "By funding and sharing the best practices in business, we stand to improve the efficiency of investing in emerging markets. As efficiency rises, the well-being of millions trapped in poverty is bound to rise, too".
The lofty goals of the conference are geared to bring practioners and scholars together for a robust exchange of ideas and to generate serious and practical results and research on these timely issues. The following topics will be addressed at this event:
Institutions and governance Political economy and internationalisation Cross-listing Capital structure Institutional environment To attend the conference, please contact: http://www.darden.virginia.edu/em/
Business Schools tap their inner strengths Partnerships with other academic institutions have been the sine quo non for years. Business schools are expanding their global reach and even sharing each other's academic strengths. The Wharton-INSEAD Alliance quickly comes to mind as well as that timely dual degree programme offered by HEC and NYU Stern. A rediscovered trend is for a business school to build interdisciplinary links within its own institution. Part of the reason RSM Erasmus University is gaining much publicity lately is due to this strategic manoeuvre. Across the Atlantic, The Sloan School of Management at MIT are old hands at this game. As Richard Schmalensee, dean at Sloan recently stated: "We're part of an incredible university. How dumb would we be not to take advantage of that?"
As most people are aware, MIT has been at the forefront in pushing diverse disciples to work together across departments. Demand from the students is keen and has the blessing of the dean. For example, the university's $50k entrepreneurship competition has been a university wide affair since it was launched in 1990. What is strange is that MIT was the exception rather than the rule. In the last 20 years, most business schools have branded themselves separately, claiming their independence from the university's to which they belong. Even Harvard and Stanford today are encouraging their students to profit from the rich resources across departments and disciplines on campus such as philosophy, law, and politics.
"Complexity of the business world is the driving force", claims Anthony Hopwood, dean of the Said Business School at Oxford, "Twenty years ago managers didn't need to know about science and technology, but now these subjects permeate every aspect of business. A modern business school has to have access to know-how on science, regulation, policy and government. Today MBAs need seamless access in a joined-up world".
Columbia's dean, Glen Hubbard with his entrepreneurial mind-set has been encouraging faculty members to increase the number of joint academic appointments with other schools in the university and boosting faculty to conduct joint research.
"I like to see research aimed at problems, not disciplines… One of the reasons that I am passionate about this is that if you want a university to come closer to the outside world, you need to come closer to other departments".
Even Harvard Business School is jumping on the bandwagon. Often accused of being insular, the business school is stepping-up its ties with other university departments. The school already offers joint degrees with the Kennedy School of Government and Law School. Since last semester, it began a dual degree programme with the Medical School. Further cooperation is now in place with the School of Education and they are currently setting up a healthcare initiative.
LBS launches Centre for Corporate Governance This past week London business launched a Centre for Corporate Governance to lead international thinking and serve the needs of business and policy makers alike.
The new Centre is backed by Oracle, Freshfields Bruckhaus Deringer and Prudential, and aims to move governance practices beyond mere regulatory compliance towards providing independent research and recommendations of value to policy makers, corporations, investors and other interest groups.
Combining cross-disciplinary research designed to influence the corporate governance debate and focused on the needs of practioners, the Centre will be chaired Professor Julian Franks and be based at the School. It will examine contentious issues surrounding corporate governance, including shareholder activism, measuring CEO and board effectiveness, valuing corporate social responsibility, and the new demands on boards and how information management and systems can improve these.
BNP Paribas support Hedge Fund Centre at LBS BNP Paribas is pleased to announce it is to fund London Business School's Centre for Hedge Fund Research and Education for three academic years to September 2008. This is the first time that BNP Paribas has funded a major initiative at London Business School.
The Centre will be renamed the BNP Paribas Hedge Fund Centre. It will continue to be led under the academic direction of Dr. Narayan Naik, Associate Professor of Finance at LBS. Since its establishment in 2001, the Centre has conducted research into the nature of risks taken by hedge funds in their trading strategies, a topic of particular interest to regulators as well as to potential investors. Among other topics, it also investigated the relationship between the ability of funds to attract new money on the one hand, and relative performance incentive fees, fund size and age, and capacity constraints on the other.
Healthcare MBA at Yale SOM Yale School of Management has recently launched a new course for healthcare executives. The leadership in healthcare MBA combines faculty from the schools of medicine, public health and management to teach on the part-time, 22-month programme. Applicants must have a minimum of seven years' work experience. The first class begins July 2006.
Joint MBA/PhD In addition, the school announced a joint MBA/PhD with the Yale School of Arts and Sciences. Students who follow the programme will finish in 7 years of combined studies. "This programme allows students to combine the depth of inquiry associated with a PhD programme with the breadth of knowledge and skill development associated with an MBA", states Joel Podolny, dean of Yale SOM. The school is currently accepting applications for the academic year 2006-2007.
Financial Strategy diploma launched at Said Said Business School is to offer a diploma in financial strategy, supported by the Institute of Chartered Accountants of England and Wales. The masters-level course will cover organizational and marketing development, international business and information management. It will represent 20 per cent of an MBA in content.
Wilson Centre for Social Entrepreneurship Pace University in New York will soon launch the Wilson Centre for Social Entrepreneurship thanks to a generous donation by Helen and Grant Wilson of $5million. It will offer research, training and advice for non-profit organizations, and enhance Pace's entrepreneurship course offerings to future students.
Melbourne Business School offers joint legal degree Melbourne Business School has teamed up with Melbourne Law School to deliver a new degree: the Juris Doctor/MBA. The three-year programme will be available to lawyers with civil law degrees and professionals from other business practices. The degree will provide a legal education and an opportunity to diversify managerial skills. The first intake begins in January 2006.
Copenhagen joins European MBA consortium The European MBA consortium has welcomed Copenhagen Business School. Originally founded by Mannheim Business School in Germany, the group also includes Warwick Business School (UK), ESSEC (France).
Participants at any of the schools can move from campus to campus to get a more innovative view of European business practices. Starting next year, Copenhagen students enrolled in the European MBA programme will be entitled to spend two of their study terms with partners.
ESC Grenoble goes to Tbilisi Grenoble Graduate School of Business in France is launching an MBA programme next month in Tbilisi, Republic of Georgia. The programme has 14 participants and the organizers are hoping for more than 20 by the starting date.
In the last few years, ESC Grenoble has developed programmes with institutions in countries where it has identified a large growth potential in countries with needs for further business education such as Moldova, Russia, Malta, Serbia, Montenegro, and China. The ESC -Grenoble faculty delivers courses on site to local students.
Ashridge Business School Appoints New Representative in India Ashridge recently announced that it has appointed Dr. Shona Purdy to represent its institution in India. Her mission will be to spread the brand awareness of how Ashridge can enhance the skills of India's future business leaders. She will be based in New Delhi.
As an associate faculty member, she is keen on her new appointment:
" Organisations are becoming more international and Ashridge is exercising a more dominant role in developing managers to the highest standards to meet today's complex business challenges. The institute offers a variety of options such as the MBA and tailored shorter programmes for executives and companies.
It is my belief that the uniqueness of the school is that we emphasize leadership and analytical management skills. Both are necessary to make things happen."
Prior to her joining Ashridge, Dr. Purdy worked for Ranbaxy Laboratories Ltd. in New Delhi. Her understanding of India makes her a real plum for Ashridge in addition to her significant experience in management consulting. The wealth of her experience should help Ashridge increase the number of Indian managers the school will recruit.
Audencia Targets Professional Experience A recent analysis of the October 2005 class shows that Audencia Nantes is attracting a more mature age group of professionals. On average, participants have at least ten years of experience. Officials at the school state this is the most 'executive' class the programme has handled since its inception in 1984.
Normal recruitment requirements stipulate that only three years of expertise is needed to be able to apply to the full-time MBA programme. Students who graduated in 2005 had on average seven years in the field before beginning their studies, thus raising the level of interaction and intellectual stimulation as well as shared experience on case work.
The 2006 Class statistics confirm this trend. Such participants would not be out of place on an executive MBA programme. In addition to experience, the profile of the new class boosts that 70% are +30 years of age; while 18% are +40 years old. According to Andrew Taylor, attracting mature candidates has been one of the principal targets of Audencia, and he is quite pleased with the results.
International students have also been on the rise. The current ratio is 2:1 in favour of non-French professionals. Recent participants include members from Russia, Chile, Iran, and the Philippines. The school's recent accreditation should also boost the attractiveness of the MBA programme.
One explanation for the make-up of this year's intake is Audencia MBA's stress on business development. The programme aims primarily to equip managers with the tools and knowledge needed to act as in-company entrepreneurs capable of setting up and running business activity within new countries or markets.
Bidault at the helm of ESMT The European School of Management and Technology appointed Francis Bidault to head its new MBA programme. EMST will welcome its first MBA cohorts in January 2006 in Berlin.
The school was founded in 2002 by 25 leading German companies and associates with the aim of building an outstanding first class business school in Germany. Francis Bidault is formerly from the Theseus International Institute in France.
Audencia Nantes Internationalises Further Audencia Nantes is one of Europe's fastest growing business schools and is now beginning to receive the acclaim that it deserves. It is proving itself adept at pulling itself out of the traditional pack of French business schools, and putting itself on track to become one of the leading MBA programmes in Europe.
As part of its mission apart from academic excellence, Audencia has just signed agreements with City University (London) and Hong Kong and Korea University Business School (Seoul). The Association of MBAs, AACSB, and Equis accredit the programme. For MBA candidates contemplating study in France and seek a school with 67 overseas partnerships, Audencia Nantes deserves serious consideration.
Babson and HEC strike a deal HEC Paris and Babson College announced a strategic partnership. The partnership will involve faculty exchange, student collaboration, and research projects. Since both schools are major players in delivering courses on entrepreneurship, this can only boost the depth of HEC in entrepreneurship, particularly in Europe.
Babson College has been one of the key recognized leaders in entrepreneurship in the USA. Within the Executive Education division, the two schools will establish joint-courses, and probably put into play distance-learning models to increase their cross-Atlantic partnership.
IEDC-Bled receives accreditation Slovenia's IEDC-Bled School of Management was awarded the the UK based accreditation by the Association of MBAs. The current dean, Dancia Puig, is pleased recognizing that this will now allow the school to further internationalise its MBA program and begin to attract more qualified candidates from Eastern and Central Europe.
HEC Bolsters European Ties The Associate Dean of HEC-Paris, Michel Raimbault helped to form a consortium with four of Europe's leading business schools. He states, "These are more than just joint-degree programmes. Students spend the first year of their Masters within their original institution. On completing the programs, students will receive two Masters of Science degrees from HEC and the other university. The programme officially begins in September 2005. Twenty selected HEC students will be able to choose from 4 partners: Erasmus (Rotterdam), ESADE (Barcelona, Madrid), St. Gallen (Switzerland), and Bocconi (Milan). Selection will be based on academic performance, motivation, and linguistic skills. In return, HEC will receive students from each partner institution.
The double degree programmes are designed to give students deeper hands-on multicultural experience and allow them to select two majors. "Holding two degrees from some of Europe's elite academic institutions is clearly an advantage." said Michel Raimbault.
New Opportunity for Hong Kong Students Starting in 2007, the University of Hong Kong will send up to 60 MBA students per year in a collaborative exchange programme to London. HKU students will be entitled to take electives for a 10-week period at London Business School. HKU students will complete the core programme however, in China. www.london.edu www.hku.hk
Building Leadership Skills The Centre for Excellence in Leadership, a college for managers in the learning and skill sector in the UK, has developed a leadership qualities framework, which is unique in education. www.centreforexcellence.org.uk
Oxford Executive MBA Celebrates This month saw a second intake of students at the school's new management degree programme. Internationalism is fundamental to the programme, which consists of 14 one-week modules taught over 21 months. Students will be taught at the Said Business School, although residentially based at Templeton.
Half the students in the new intake come from countries beyond Europe, including the USA, Russia, China, and Saudi Arabia. The Oxford Executive MBA has been designed to build management competence generally with particular emphasis on entrepreneurship and finance. Through its modular structure it aims to achieve the intensity of a full-time MBA but without massive interruption to participants working and family lives. Contact: firstname.lastname@example.org
Audencia Nantes Launches Executive MBA Audencia Nantes School of Management unveiled its executive MBA programme this month. Completing its MBA portfolio, the 18-month part-time programme will be taught in Nantes on alternative Fridays and Saturdays. Participants will undertake a real project set by their company so that their knowledge can be applied, as it is required. www.audencia.com
IESE programme incorporates more flexibility Feedback last year propelled IESE Business School in Spain to revamp its advanced management program. New programme strengths now include flexibility, coaching, and soft skills. Personal coaching allows participants to pair with an IESE professor to gauge progress. The advantage of these improvements allows participants to further develop softer leadership skills such as trust and genuine communication skills. www.iese.edu
Ashridge launches new international management development programme In conjunction with the European Foundation for Management Development (EFMD), Ashridge has started a new programme entitled, LINK (Learning - Innovation - Networking - Knowledge). The LINK programme focuses on practical needs of those people with responsibility for their organisations' management development. Run as part of the Ashridge open programme portfolio, it will start in May 2005.
Eric Cornuel, director general of EFMD, chose Ashridge for its excellence in three core areas of executive education, consulting, and research. Participants will be introduced to the standards, principles and best practice 'building blocks' of management development.
Phil Anderson, Ashridge Programme Director concludes: "The role of management development is pivotal in organizations. The LINK programme provides the people responsible for this important strategic resource with the tools and expertise to apply the latest management development thinking and learning."
The programme is due to run September 20-22, 2005.
Europe Needs More Entrepreneurship More needs to be done if Europe is to meet the objectives set out by the Lisbon European Council Objective of making the region 'the most competitive and dynamic knowledge-based economy in the world'.
Even though entrepreneurship education has grown 61% over the last years, a recent report sponsored by the European Foundation for Management Development states that this subject remains primarily an elective. In addition, networks between faculty teaching entrepreneurship across Europe are limited.
Recommendations include the formalisation of entrepreneurship in the curriculum and establishing better links with business and entrepreneurs.
"European universities must play a key role in promoting entrepreneurship and innovation, helping students learn not just how to start, but also how to grow enterprises and across national boundaries", according to EFER founder, Bert Twaalfhoven. www.efmd.be www.efer.nl