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Infusing New Ideas Into the MBA Curriculum

Infusing New Ideas Into the MBA Curriculum AACSB Emerging Curricula Conference Nov. 16, 2002 Panelists/Perspectives Dr. Sarah Gardial/Full Time Program Asst. Dean, MBA Program University of Tennessee Dr. Karen Newman/Part-Time Program Dean University of Richmond

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Infusing New Ideas Into the MBA Curriculum

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  1. Infusing New Ideas Into the MBA Curriculum AACSB Emerging Curricula Conference Nov. 16, 2002

  2. Panelists/Perspectives • Dr. Sarah Gardial/Full Time Program • Asst. Dean, MBA Program • University of Tennessee • Dr. Karen Newman/Part-Time Program • Dean • University of Richmond • Dr. Rodney Alsup/Distance Program • Sr. Associate Dean, Grad. Business Programs • Kennesaw State University

  3. 2002 MBA Roundtable Survey* • 195 schools provided information on 470 MBA programs • Approx. 65% of the schools reported major program revisions in the last 10 years, most in the last 5 years • 23 of the programs reported specifics of current MBA program innovations *Thanks to Dr. Tom Howard at Denver University

  4. Significant/Structural Changes: 17 out of 23 responses • Moved out of 3 hr/15 week structure • Shorter, variable length classes/modules • Creation of “tracks” and “themes” which stretch across course content • Integrated core classes • Revision of core content • 1-week “intensives” • Switch from quarters to semester (or vice versa)

  5. Program Adjustments (Often Within An Existing Structure): 11 out of 23 responses • Add/subtract classes from core • Add/reduce electives • Add/alter concentrations • Add more emphasis, e.g., e-commerce, global, entrepreneurship • Allow more student choice/electives (esp. in first year)

  6. Changes in Foundation Classes: 11 out of 23 • 2-3 week “pre-terms” • Internet-based instruction • Workshops • Emphasis on early IT training

  7. External Environment – Changes In Economy Technology Recruiter demands Prospective student demands Rankings The business environment/conduct Competitive (MBA) marketplace Internal Environment – Changes In Funding/resources Facilities College/University goals, strategies, and priorities Leadership (college or program) Faculty Student/alumni satisfaction Environmental Factors Behind Innovation

  8. Benchmarking in a Changing Environment: Where’s the focus? • Focus on the Outcomes • What does the new program look like • Identify trends • Possibilities for emulation and adaptation • Focus on the Processes • Most of us are not trained managers • Identify the managerial challenges of innovation • Lessons learned and pitfalls to be avoided • Focus on the Context • Exploring the unique combination of market factors, resources, and organizational strengths and weaknesses as drivers of both process and outcomes

  9. A Part-Time MBA Innovation Example University of Richmond

  10. Characteristics ofThe Richmond MBA • 40-50 students per entering class • Average age: 27 Average yrs. work: 5 • Part-time evening program • JD/MBA • Local market. Students come from the greater Richmond area and stay

  11. Characteristics ofThe Richmond MBA (Cont.) • Curriculum basically unchanged for 20 years • MBA historically seen as secondary to undergrad education • RSB has 1/3 of UR undergrads (250 per year) and is developing an international business focus

  12. A Little History and Context • MBA is stepchild • Serves local market, competing with two state schools • Old curriculum remarkably similar to competitors’ • Program historically unbudgeted, priced below cost

  13. A Little More History: Old Program • 51 credits • 2 electives • no concentrations • no integration across courses • up to 21 credits could be waived for undergraduate business majors • students admitted 3 times a year

  14. Pressures for Change • New dean • Need for quality to match undergraduate program • Need to introduce international dimension to the program • Need to use MBA to attract new faculty • Need for resources

  15. (More) Pressures for Change • Budget reform • Assigning revenues and costs to MBA • Generating new net revenue for RSB growth • Pricing the program to reflect both costs and quality

  16. (More) Pressures for Change • Complacency • Falling enrollments • No esprit de corps • No loyalty to the University • Out of date curriculum • No value added to the RSB from the MBA

  17. The Change Process • NOT textbook • Developed an EMBA for a corporate client from scratch • Opening Week-Long Residency • International Residency • Capstone Project • Coordinated and Integrated Curriculum

  18. (More of) The Change Process • Corporate EMBA was not seen as central to RSB mission • Faculty taught off line, on volunteer basis • Curriculum developed quickly by Dean, Associate Dean, and faculty committee, in consultation with corporate client

  19. (More of) The Change Process • Stakeholder input in the early design phase (graduates and local executives) • New part-time MBA adapted quickly from Corporate EMBA • Used momentum from newly constructed EMBA to transform part-time MBA almost overnight

  20. THE Richmond MBA • 54 credits • no waivers • 4 concentrations • one entry-point per year • quasi lock step in first year • priced to reflect both costs and quality

  21. THE Richmond MBA • Pre-course instruction • Web-based or CD ROM • Accounting • Finance • Economics • Quantitative Methods

  22. THE Richmond MBA • Opening Residency • Two long weekends, one week apart • Team-based • Content and camaraderie • “Live case” learning platform and competition

  23. THE Richmond MBA • International Residency • Team-based • Summer (7 week course) • Company-based consulting projects • 2-3 weeks in Richmond, 10-14 days abroad, 2-3 weeks back in Richmond • Consulting report presented to company

  24. THE Richmond MBA • Four concentrations • Finance • Marketing • Strategic Leadership • Human Resources

  25. THE Richmond MBA • Capstone Project • Integrates the program • Student developed • Company-based • Solo or duet

  26. Benefits of the New Program • Students • Three different opportunities to integrate knowledge • Alternative learning modalities • Common core and common experience • Faculty • Attractive recruiting tool • Opportunity to work collaboratively with other faculty • Opportunity to develop international content and knowledge • RSB • Quality orientation matches undergraduate program • MBA is financially independent, contributing to RSB growth • Student loyalty is higher

  27. Lessons Learned • The devil’s in the details - - need to modify as we go • Need for PR is very strong • You CAN create a part-time program with all the bells and whistles!

  28. A Full-Time MBA Innovation Example University of Tennessee

  29. Characteristics of UT MBA • 90 students per entering class • Average age: 28 Work experience: 3-5 yrs • Lock-step program • Two dual degrees (with law and engineering) • Virtual marketplace monopoly (in Knoxville) • Prospective students have a southeastern US bias, but national/international coverage • Local job market is extremely limited – recruiters come from all over the country and placement is geographically dispersed

  30. Characteristics of UT MBA (Cont.) • Seen as curriculum innovator and flagship program in college (the laboratory) • UT CBA has approx. 3000 business undergrads, 4 EMBAs, an extremely strong executive education mission • State school – historically and perpetually under funded (lean and mean!)

  31. Evolution of UT MBA Program 30 year life cycle 10 year life cycle • Chapter Two • “Every Manager” in first year • integrated first year, year-long case • discipline-based concentrations • Leadership/Comm. emphasis • Chapter One • “traditional” MBA • non-integrated • focus on discipline skills • Chapter Three • 17-month • Integrated core (w/in- and across-firm integration) • Pre-internship concentration classes

  32. Internal Enthusiasm over Chapter Two was waning - hard to attract and retain best faculty Solving design flaws in Chapter Two required a new structure Better utilization of college resources – need to balance program delivery efficiency with our “high touch” values Continue to lead curriculum innovation in other graduate programs in the college External Need to align program content with changing business environment Need to align program content with CBA core competencies Stronger program positioning in a competitive MBA market (niche) Customers (students and recruiters) were asking for shorter programs UT Pressures for Chapter Three

  33. Managing the Innovation and Communications Process • Identification of departmental liaisons from primary/secondary groups • White Papers • Web site • Minutes of all meetings • Early ideas/Drafts • Progress reports • Meetings/presentations • Departments • College • Recruiters • Advisory Council • Students Primary Group Secondary Group Communication Faculty/Depts.

  34. Stakeholder Involvement • CBA Faculty • Alumni • Current Students • Corporate Managers and Recruiters • Academics • MBA Admissions Director • MBA Career Services Director • Joint Program Partners • College of Engineering • College of Law

  35. UT MBA 17-Month Structure April May Mid-May - August August-December July 30-March Career Development Internship & Web-Based Computer Simulation Concentrations, Electives, and Capstone What Every Manager Needs To Know Concentration “Hubs” Integrated Value Chain Management Integrated Core

  36. Environmental Analysis Decision Making Analysis What Every Manager Needs To Know Financial Results Strategic Planning Corporate SBU Strategy Implementation (see Integrated Supply Chain Management) Personal Tool Box People Skills • Global • Legal • Economic • Etc. • Communication • Leadership • Change Management • Etc. • Quantitative/Finance Skills • Statistics • Models for Decision Making • Etc.

  37. What Every Manager Needs To Know About Integrated Value Chains Demand Mgmt Focal Firm Supply Mgmt Demand Planning Procurement Sales Forecasting Operations Inbound Outbound Logistics Strategy Logistics Sales Order Mgmt Process Process Customer Relationship Management Supplier Design Mgmt Relationship Mgmt Resource Mgmt Tax Budget Cost-based Implications planning and controls decisions Performance Make/Buy Measurement Value Chain Integration Technology, Dynamics, Principles

  38. First Year “Panorama” Late July May What Every Manager Needs to Know Environmental Analysis Decision Making Tools People Skills Strategy Hub Course Finance Global Career Development Core I - Basics Customer Relationship Mgt. Operations Strategy Logistics, Proc. & Supplier Rela. Process Design & Mgt. Resource Mgt. Hub Course Demand Planning What Every Manager Needs to Know about Integrated Value Chains CORE I BASICS :Ropes Course, Computer Basics, Career Development Basics, Negotiation Skills, Statistics Fundamentals, Communications and Team Skills, Accounting Basics

  39. Second Year “Panorama” May December “The Marketplace” delivered via distance during summer internship, for 3 credit hours Concentrations: 6 credit hours, concentrations available in Marketing, Logistics, Operations, Finance Capstone Experience: 1 credit hour Electives: 3 credit hours Notes: Classes should be scheduled during Fall, second semester, on MW, allowing T, Th, and F for interviewing/job search activities. 12 credit hours required for Summer/Fall II. Students may take extra electives if they so desire

  40. Special Touches • Core I- Ramping Up (7/30-8/19) • IT integration in the core curriculum • The Virtual Marketplace Simulation (summer) • Spotlight Companies: • FedEx, Amazon.Com, P&G, Lowe’s, Daimler-Chrysler, Enron, American Airlines, Dell • The Capstone Experience • A “real world” case pitting the teams against each other • Town Meetings and Coffees

  41. Benefits of the New Program • Students • better integration of material (both within and across the organization) • better preparation prior to internships (hub courses) • lower opportunity costs (17 months) • Corporate Recruiters • employees with a broader contextual understanding (integrated value chain management) • better prepared interns • less wait between internship and full time employment • “off cycle” recruiting (December graduation) • CBA/UT • better resource utilization • modules, shorter program, fewer and more focused concentrations and electives, multi-modal • stronger marketplace positioning around CBA competencies • more capacity to grow numbers of MBA students (class of 150)

  42. Lessons Learned for Next Revision • Rethink the “Fast Track” (1 ½ year) time line – too much JIT delivery • You CANNOT over-communicate • With faculty (regardless of involvement) • With staff • With alumni and students in the “old” program • With in-coming/prospective students • With recruiters

  43. A Distance MBA Innovation Example Kennesaw State University

  44. The Georgia WebMBATMProgram Governance • Designed & administered by five University System of Georgia institutions • Program Dean selected from participating institution • Program coordinated by fulltime director • Each institution is responsible for recruiting & enrollment activities • Program faculty are graduate faculty members of each institution • Each course in the curriculum is approved by the curriculum committee of each institution

  45. The Georgia WebMBATM Program Business Model • $350 per credit hour for Georgia residents & $1,000 per credit hour for non Georgia residents • Base tuition resides with applicant’s home institution • Residual tuition less program direct operating expenses is shared equally

  46. The Georgia WebMBATM Program Business Model • Each institution provides: • Two faculty • Student services support for their enrolled students • Recruitment & enrollment support • Technology support for faculty (students provide own ISP)

  47. The Georgia WebMBATM Program Characteristics • Annual cohort start limited to 35 students, 7 from each institution • Three 2.5 day weekend face-to-face meetings • 10 course, 30 semester hour lockstep program • Applicants must have undergraduate business core for admission • 18 month program • WebCT platform

  48. The Georgia WebMBATM Program Statistics • Cohort #1: • Started January 2001 with 29 students • Ended August 2002 with 24 graduates • Success rate = 83% • Cohort #2: • Started January 2002 with 31 students • Current enrollment = 27 students • Success rate to date = 87% • Cohort #3: • Started August 2002 with 34 students • Current enrollment = 32 students • Success rate to date = 94%

  49. The Georgia WebMBATM- Why? • Serve remote areas of Georgia • First to market in Georgia • Share risk of start-up • Share cost of start-up • Add to product line • Demonstrate technology expertise • Address perceived trend

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