What is Business School All About Anyway?Posted by Nick Niesen on October 27th, 2010 The ultimate goal for those who enroll in an MBA program is career advancement. What form this advancement will take depends completely on each individual's personal agenda. One student may plan to return to work for a former employer in a more sophisticated context, while another may seek to change careers entirely, transferring to a field that is more challenging or fulfilling. Other more entrepreneurial students may attempt to launch an independent business. Whatever the case may be, MBA programs are designed to guide the student toward the path of their choosing while providing the skills that will be required when they reach their destination. How do they do this you ask? Well, the most successful MBA programs strive to gather groups of students with diverse backgrounds and goals and then facilitate the sharing of their experiences in the context of the study of theoretical business applications. Before we get in to the academic elements of the MBA program, let's first take a look at some of the different techniques schools are currently using to cultivate leadership qualities in their students (besides the standard lectures, papers, exams, etc?).
Rather than simply conveying material to the students through lectures, business schools are now using the problem-based learning format to force students to think for themselves rather than regurgitate material that they've memorized. Classes are subdivided into small groups and each group is presented with a particular management issue or problem. As a team, the students must research the case they've been presented with and apply what they've learned from their studies to come up with a solution to the particular problem. This type of exercise forces students to become "horizontal thinkers" who must consider ALL factors related to a particular decision rather than simply looking at an issue from on particular perspective (ie. accounting vs. marketing vs. finance).
Many schools are now supplementing class lectures and individuals study time with studies in the field Although most students coming into MBA programs already have significant work experience, schools continue to stress the importance of "learning from doing" The interpersonal skills that are crucial to strong leadership cannot be taught in the classroom setting but rather must be observed first hand in the field.
While many of the projects assigned in business school require students to work in groups, team-based learning focuses specifically on how to work as team. The goal isn't so much to complete a particular assignment or project on some managerial issue, but rather the to learn how to work closely with others. Setting goals, assigning responsibilities, and learning to rely on others are some of the skills involved. Because team project and work groups have become so common in the business world, the schools are stressing teamwork abilities now more than ever..
Business Strategy Analysis Financial and Managerial Accounting Management Statistics and Data Analysis Managerial Economics Marketing Management Managerial Finance Managing Organizations Operations Management
Accounting Arts Management Educational Administration Entrepreneurial Ventures Finance Government Health Care Administration Human Resource Management Management Consultants Management Information Technology Manufacturing Management Marketing Not-for-Profit Organizations Operations Management Small Business Management
As we approach the millennium, the MBA is unquestionably the hottest degree you can hold, particularly from an elite school. The stats prove it: At virtually all of the best schools, GMAT scores and starting pay packages are setting records. Applications are too, although a large part of the boom is coming from overseas...The 61 schools surveyed by business week for its 1998 rankings waded through 116,912 applications for the Class of 2000, and the average GMAT score was 667 for those attending the Top 25 schools, up from 649 just two years earlier. Today, the MBA is on its way to becoming a requirement for anyone who hopes to build a career in Corporate America, and, indeed, much of the world... Certainly, it's true that corporate recruiters can't seem to hire enough MBAs these days. The 259 recruiters who participated in business week's 1998 survey of the best business schools hired 10,348 MBAs in total, a 28 percent rise from 1996. And they would have hired even more if they could have: Grads of the Top 25 business schools averaged 3.2 job offers each, up from 2.3 in 1992, and compensation exploded. The median pay package (salary, bonus, and extras such as stock options or moving expenses) at the Top 25 hit $111,420, up 19 percent from just two years ago. Another telling figure: Median pay topped $100,000 at 18 of our Top 25-versus 5 two years ago. Like it? Share it!More by this author |