Islamic tourism: The next big thing?
ACI Fellow and NBS’ Associate Professor of Marketing and International Business, Joan Henderson, writes about how the #tourism industry is responding to a rising demand for ‘Islamic tourism’ – from specialist travel agents to appropriate #food and facilities. The increased affluence of Muslim travellers provides for valuable opportunities in the tourism industry worldwide. http://ow.ly/egUk300gNc7
Demand for leisure travel by Muslims is mounting in parallel with the expanding Muslim population worldwide.. Read more at straitstimes.com.
Many students get frustrated when evaluating sentence correction problems, with the biggest point of frustration coming from feeling that they need to memorize chart after chart of idioms.
While knowing idioms can certainly be helpful, if you are facing a short timeline, sometimes you can’t have your cake and eat it too.
Just like quantitative problems, there are frequently multiple ways to evaluate sentence correction problems. Not clear on determining that we arrive “at” an airport and arrive “in” a city, but we don’t tend to arrive “to” places? Don’t completely despair that – while you should have a decent grasp of grammar rules in your evaluation of sentence corrections, not understanding these expressions will not keep you from scoring well on the GMAT.
Take this example:
Turn-of-the-century magician Harry Houdini claimed, for his famous water-torture cell trick, the ability to hold his breath for more than three minutes.
(A) the ability to hold his breath
(B) he has the ability of holding his breath
(C) the ability of him holding his breath
(D) to be able to hold his breath
(E) being able to hold his breath
In evaluating the answer choices, you may ask yourself – “wait, do we have the ability of or the ability to do something? Can’t I have the ability of a superhero?” It turns out, in looking beyond these two letter words, the answer choice is very similar – in fact, making a selection on the basis of “the ability of” versus “the ability to” will likely lead you down a time-wasting path with an incorrect answer.
A better way to evaluate you answer choices is to first focus on something more basic – like sentence construction, in particular, having both a subject and a verb. If you cut unnecessary descriptive phrase like “turn-of-the-century magician” and “for his famous water-torture cell trick” that are not essential to understanding the core meaning of the sentence, you should very easily see that “Harry Houdini claimed the ability to hold his breath” does not make a lick of sense.
The only answer choice that makes logical sense is (D) – “Harry Houdini claimed to be ability to hold his breath” making it completely unnecessary for me to know whether we have the ability of or the ability to take an action.
Remember, the GMAT is not looking to assess your ability to memorize hundreds of minor details, but rather, your ability to critical think and leverage the assets you do have. While knowing to use “as many as” not “as many than” can help you go a bit further on the GMAT, you still won’t be effective without a flexible strategy and approach. The GMAT is looking for the most effective sentence, not the most elegantly crafted sentence. Keep that in mind when evaluating your sentence corrections.
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Make the most of this great summer light and capture your entry for the Dean’s Photo Challenge! imprl.biz/1OryO4fThis royal image was captured in the College’s main entrance by Michael Krasides, MSc Management. #IBPhoto16
5/13/16 Here is an astounding business school factoid: Some 60% of last year’s graduates of the Harvard Business School took jobs in companies that employed 500 or fewer employees. HBS Dean Nitin Nohria says that fact was “one of the most surprising things that I have learned in the last ten years at Harvard Business School.” “The large world of recruiting where people would come and make offers to hundreds of students and take them just seems to be a world that is going to become a minority of recruiting,” he adds.
Nohria made this observation at a recent gathering at Columbia Business School, where the deans of Harvard, Columbia, Wharton and Stanford participated in a pubic discussion on the future of management education. During the hour-long conversation, the deans defended the value of the two-year MBA experience and predicted that the traditional business disciplines that have flourished in silos will became less critical as experiential learning assumes greater importance in MBA programs. They also forecast that technology will forever change how business is taught in business schools and predicted the decreasing importance of the traditional major employers of MBA graduates.
It was a rare public gathering of four of the deans of the so-called M7 elite business schools whose leaders often meet privately. The wide-ranging discussion covered everything from the return on investment of the MBA degree to whether it made sense for entrepreneurs to have an MBA education (not surprisingly, the deans took the view that the ROI on an MBA was strong and that an MBA education could give entrepreneurs an advantage). The unusual symposium, held earlier this month, was assembled to commemorate Columbia Business School’s centennial.
Read more via: http://poetsandquants.com/2016/05/13/elite-deans-defend-value-mba-degree/
5/10/16 Almost always, the thinking goes, MBA applicants first focus on business school rankings when narrowing down the schools on their target list. But a new survey shows that the most influential data point is more focused on outcomes.
The new survey, published today (May 10) by the Graduate Management Admission Council, found that the single most important factor is the percentage of the latest graduating class with job offers (see table below). That is also true of applicants who are pursuing specialized master’s degrees in business.
After job offers, the quality of faculty came second, the availability of scholarships third, and total tuition and required fees came in fourth. Graduates’ starting base salary and other compensation rounded out the top five. Surprisingly, rankings, according to the survey, came in ninth or next to last for full-time MBA applicants.
Read more via: http://poetsandquants.com/2016/05/10/applicants-pick-target-schools/
5/10/16 The high cost of a graduate management education continues to be a key concern for prospective students and an important factor in deciding where they will apply and enroll, a new survey of prospective students by the Graduate Management Admission Council found today (May 10).
Would-be grad students in business generally expect using a variety of resources to fund their degrees although they expect to finance almost half of their education through a
combination of grants, fellowships and scholarships (26%) and loans (20%).
Baby Boomers and Generation Xers are more likely to rely on personal savings and earnings as well as employer support to pay for the costs of their education; whereas Millennial and Generation Z cohorts will be more dependent on parental support, according to GMAC’s prospective students survey.
There are also important gender differences to note within the expected
financial mix for different age groups. Among prospective students 24 years of age and younger, men are more likely than women to rely on loans and personal savings, whereas women expect to rely more on parental support. Among those aged 24 to 30, women are more likely to rely on spousal or partner earnings and employer reimbursement than men their age, who expect to rely more on loans. Among those aged 31 and older, women will rely more on a spouse’s or partner’s earnings and men will rely more on personal savings.
Read more via: http://poetsandquants.com/2016/05/10/mbas-financing-degree/
4/26/16 It’s no secret that American universities have long been the beneficiaries of generous philanthropic support. Endowments at U.S. schools tower over all the institutions of higher education anywhere in the world. The income from those treasure chests is poured into superior faculty, the best and brightest students, and state-of-the-art facilities that make a U.S. higher education a formidable world competitor.
That’s especially true within the business school community. Consider this simple factoid: INSEAD, with multiple campuses in Europe, Asia and the Middle East, is the wealthiest business school outside the U.S., with an endowment of $213.9 million, or €189.7 million. That compares with the top U.S. contender, Harvard Business School, with a staggering endowment of $3.3 billion. In fact, 22 U.S. business schools boast endowments that exceed INSEAD’s totals, including Babson College and Bentley. No less revealing, the five business schools outside the U.S. with the largest endowments boast a combined total of less than $750 million vs. the five combined U.S. B-schools total of $7.7 billion.
Bottom line: Non-U.S. business schools are far behind their American counterparts when it comes to resources. U.S. business schools are quite efficient at raising money from corporations, sponsors, loyal alumni, and friends, while international schools have lagged behind in building their cash treasure chests. This is perhaps the biggest institutional level difference between the U.S. and the international schools.
THE ENDOWMENT GAP IS A FUNCTION OF HISTORY AND CULTURE
As a rule, international B-schools have relatively small endowments or none at all. This makes them much more reliant on revenue from tuition and fees, annual funds, and government support which in turn means that international business schools are relatively constrained in their ability to fund new initiatives and invest in the development of their programs. The larger endowments held by U.S. business schools not only provide them with a greater capacity to grow and develop for the long term, they also provide a cushion of support that makes them better prepared to survive the effects of any shocks to the business school industry.
Read more via: http://poetsandquants.com/2016/04/26/wealthiest-international-business-school/
5/11/16 Gallup has taken on the significant and wide-ranging research effort How Millennials Want to Work and Live to help institutions, businesses and employers understand this powerful generation.
Featuring unprecedented analysis of decades of research, How Millennials Want to Work and Liveuncovers the most important findings related to millennials, including how they present themselves as people, consumers and employees.
How Millennials Want to Work and Live answers important questions like:
What do millennials want from their workplace? What can organizations do to attract, engage and retain millennial employees? What are millennials doing online? How do millennials identify politically? Religiously? How do millennials spend and save their money? How do brands miss the mark with their millennial consumers? What effects do the ways millennials work and live have on the U.S. economy?Read more via: http://www.gallup.com/reports/189830/millennials-work-live.aspx?utm_source=launch&utm_medium=email&utm_campaign=millennialssummit
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