The Do's and Don'ts of Reapplying to Business School
Interested in studying a Masters degree at Alliance MBS? Come along to our information session, on campus, tomorrow. Register here >>http://fal.cn/2rKV
Join us to celebrate the Final Pitching Event of the Althea-Imperial Programme 2016 on 3rd May from 5pm.
Born of a collaboration between the college and The Althea Foundation (a social venture philanthropic organisation), the programme offers unique opportunities and resources for female students to develop their enterprising skills and knowledge.
Hear our five female finalists present their innovative ideas to a panel of industry and academic experts as they compete to win a total of £20,000 available in prizes!
Book your ticket: http://imprl.biz/1Nx7nWa
The Althea-Imperial partnership is a unique collaboration between a world-leading university for innovation and entrepreneurship (Imperial College London) and an internationally renowned social venture philanthropic foundation (The Althea Foundation). Now in its second year, this pioneering initiative is designed to inspire a new generation of women in science, technology and business.
Both the programme and its associated £10,000 top prize have...
“While regulators put their finishing touches on reforms from the last financial crisis, a new storm is brewing for the global financial system. This time it’s not fancy repackaging of mortgages, but bets in the energy sector that threaten to wipeout shareholders” discusses Dr. Charles Donovan, Principal Teaching Fellow, in his latest blog.
This topic, and more, will be explored tomorrow at our inaugural conference: Mobilising Business, Acting on Climate. Follow the action using #MobiliseBusiness.
This time it’s not fancy repackaging of mortgages, but bets in the energy sector that threaten to wipeout shareholders. One canary in the coal mine was last …
A career in consulting offers our MBA students global exposure and the platform to apply their skill sets across a variety of topics – from market growth and strategy to operational excellence and capital productivity. At INSEAD, our team at the Career Development Centre (CDC) works closely with over 130 consulting firms around the world. The CDC prepares MBA students for their careers in consulting by designing programmes and activities for them to understand the sector and get ready for job interviews. Find out more about our MBA alumni’s consulting careers, and how INSEAD had provided them the knowledge and networks to embark on their consulting journeys. Learn more about the INSEAD MBA and Career Development Centre (CDC): http://bit.ly/1N7ZWKb
Watch on YouTube: https://youtu.be/LycB6aeEp2M
Join us at 4:45 PM EDT for a Facebook Live stream of the Wharton Business Plan Competition Elevator Pitches. Tune in and cast your vote for the People's Choice Award. Read about our 8 finalists here: http://whr.tn/1xXMm4IDeans from four of the country’s top business schools gathered together on a single stage earlier this week for a panel discussion on the future of graduate management education. Though the panelists—Geoffrey Garrett of the Wharton School of the University of Pennsylvania, Nitin Nohria of Harvard Business School (HBS), Garth Saloner of Stanford Graduate School of Business (GSB) and R. Glenn Hubbard of Columbia Business School (CBS)—have certainly grappled with questions about the value of the MBA degree and how best to train tomorrow’s leaders with each other in the past, Monday marked the first time they had ever come together in public as a group to do so. The event took place on May 2nd at Columbia University as part of that business school’s ongoing centennial celebration.
Moderator Jan Hopkins, former CNN anchor and correspondent, put the deans on the defensive from her very first question and didn’t let up, but the deans held their own and argued persuasively in support of the MBA.
“Business is hardwired into the prosperity we take for granted,” CBS’s Hubbard said. “And the biggest problems in the world are business problems and management challenges.” So even in the current climate, where “business has been vilified and bankers are hated,” as Hopkins put it, CBS draws the same proportion of its students from finance and sends the same proportion back out into finance. “The flows haven’t changed,” he said. “What has changed is the number of students wanting to bring about positive change in the world,” he said, adding that more and more students think of social enterprise as the route to do that, not government.
Harvard Business School Dean Nitin Nohria
Nohria, for his part, noted that business is still an entirely voluntary enterprise. “You don’t have to buy something or invest in something unless you like it, and when the business enterprise ceases to create value, it disappears.” But even amid this natural process of creative disruption, the prosperity of society still depends on the business industry and business leaders, he continued. “When people think about business leaders today they think about them as people determined not to do well just for themselves, but for others.” His fellow panelists concurred that the role of leading business schools is to train these leaders.
Is the MBA Worth It?
Noting the staggering cost of business school, which will likely only increase over time, Hopkins questioned whether the model is sustainable. “Any transaction is about value,” replied Hubbard. “If you are going to any of the very top business schools, the answer to that question is yes,” he continued. But the burden falls upon those institutions to continue delivering an experience that is broad in scope, not focused on narrow disciplines taught one at a time. “There will be a handful of schools that survive and prosper and add value.”
Wharton’s Garrett added that even the top schools must evolve to remain relevant and valuable—including by placing growing emphasis on experiential learning. “We’ve long been good at ‘learning by studying,’ but now we are all getting into the ‘learning by doing’ business,” he said. “We all want and have a responsibility to ensure there is no rigor/relevance trade off, and I think that is a sweet spot for leading business schools.”
Why Wouldn’t Would-Be Entrepreneurs Skip the MBA?
Wharton Dean Geoffrey Garrett
Alluding to current Silicon Valley successes who skipped business school, Hopkins next challenged the value of the degree to would-be entrepreneurs. Garrett countered, noting that some big names in Silicon Valley right now happen to be Wharton alumni, including Google CEO Sundar Pichai (MBA ’02). The MBA is particularly valuable, he continued, when it comes to scaling businesses. “The skills our graduates develop at Wharton are what help turn a great idea into a great business,” he said.
“Entrepreneurship can be done by all kinds of people, and history is replete with entrepreneurs who didn’t get a great business education,” HBS’s Nohria acknowledged. That said, 50 percent of HBS graduates will have founded their own company 20 years out of school, drawing on the skills they gained while there, he noted.
Stanford’s Saloner shared that 16 to 18 percent of that school’s MBA graduates start their own businesses straight out of school, three times what it has been. “They benefit from business school because an entrepreneur is a general manager—you need to hone those general management skills.” He also added that even businesses that are founded by non-MBAs have MBAs in the executive suite. “The MBA may not be the founder, but most of those companies find you need not only the technologist but also someone who brings the business fundamentals,” he said. A third of all unicorns—startups valued at more than $1 billion—have an MBA as part of the founding team, he added.
Hubbard echoed Garrett, underscoring that there is a big difference between an idea and a business. He also noted that at CBS he’s seen an increase in the number of students interested in startups who are not themselves entrepreneurs. “They see themselves as providing that complementary skill to a technology or medical entrepreneur.”
Sunday reading, just for you. Read five of our editor’s top picks.1. How to go from good to great by LBS’s Randall S Peterson: http://bit.ly/1SjE40A
2. Gender parity: the pipeline problem by LBS’s Isabel Fernandez-Mateo: http://bit.ly/1NcYB4W
3. Stereotyping: the universal performance killer by LBS’s Aneeta Rattan: http://bit.ly/1SbyQyF
4. Make a success of your start-up with LBS’s John Bates: http://bit.ly/1XzvnO6
5. Three lenses that can help you see new ideas by LBS’s Julian Birkinshaw: http://bit.ly/1XzvbOV
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