This is an exciting time to prepare for a career in business management. There are many changes in how business is being conducted around the world. Clearly, this is a time of great transition in the creation and distribution of goods and services globally.
While times of transition often look chaotic, new patterns will emerge that establish the new order. Men and women entering business careers in the coming decade will be a part of creating the new patterns in the new order.
One of the most exciting features of the current transition is the globalization of business. Creation and exchange of goods and services involves an increasing portion of the world's population. Every year, the scope of participation is greater. More countries, more cultures, more people are involved in interactive economic trade. Labor, goods, and services are exchanged more broadly, and only a relatively small portion of the world's population is left out of the global economy - a portion that continues to shrink. This globalization has made fundamental changes in business outlook and practices.
Equally dramatic changes are taking place in technology. Manufacturing, communications, and transportation technologies are all producing innovation on a scale and at a rate unimaginable only a few years ago. This means the old mind sets about how things are done, and with whom transaction are made, are obsolete. Men and women entering business management careers in the next decade will literally be changing lives throughout the world through techniques and transactions not yet imagined.
All of these changes make this a particularly propitious time to be acquiring a business education. With so much change taking place, persons acquiring a business management education now can learn the techniques on the leading edge of change. They can prepare themselves to participate in the new patterns of business. They will enter business careers as new patterns are emerging, and they will participate in building the operational practices twenty-first century businesses.
With this amazing opportunity available to them, it is especially important that persons planning business careers get an education that is reliable, current, and relevant. They need to be certain that they experience educational programs capable of preparing them for the excitement ahead. Those programs must be in touch with the latest techniques and practices. They must combine the theoretical understanding of global economic developments with a practical understanding of how things get done. A student who invests his or her time, effort, and opportunity in an educational experience must be sure that the return on that investment will be great. The best educational experience will not just inform students, it will transform them. At the end of the educational experience they will see the world in ways they had not seen it before, and they will behave differently than they behaved before.
In this situation of opportunity, the good new and the bad news comes from the same phenomenon. There are more educational opportunities for students wishing to enter into business management careers than ever before. The bad news is that the demand for business education is so great that it has encouraged institutions of dubious merit to enter the market.
Not all management education programs are the same. Some do not have the resources to assure that their education is current and relevant. A shortage of qualified faculty and the expense of maintaining current technology push costs up for institutions offering business education.
Some do not have the will to use their resources to make the education they offer current and relevant. With high demand in the market, some institutions can operate at lower costs and higher profit margins by skimping on needed personnel and technology. Students need information as they make choices among education providers.
AACSB International - The Association to Advance Collegiate Schools of Business - has been evaluating and accrediting educational quality of business education since 1916. It provides a rigorous peer review process for determining those schools that offer quality business management education. Worldwide, 424 schools have achieved AACSB International accreditation, which assures not only that they have achieved quality but that they have mechanisms in place for continuous improvement of their educational offerings. In making its accreditation evaluations, AACSB looks at the educational outcomes, processes that produce those outcomes, and the processes that manage schools' resources toward achievement.
The ultimate criteria for decision-making within the AACSB accreditation process is a judgment of overall high quality. Through the professional judgment of the business school administrators and corporate executives who comprise the peer review teams, an overall quality judgment results from the careful and detailed evaluation of this school on AACSB's accreditation standards. Students entering an AACSB-accredited business management program can be assured that accreditation is earned only after a careful and searching review process.
The coming decade will see a great need for emerging leaders in business. These must be people with vision and with values. They will be needed in every industry and at every level of business activity. The excitement of the current business transitions will evolve into economic activity and participation of a scope the world has never seen. Today's students will be its creators and leaders.
Author: Milton Blood, Managing Director, AACSB International (The Association to Advance Collegiate Schools of Business)
- Why do an MBA, Diverse Opportunities, Demand for Training
- Why do an MBA? - Diverse Opportunities. Recent years have witnessed a rapid growth in the UK and international MBA market. The increasing demand for training in what is now routinely accepted as the graduate management degree is in part due to the MBA's growing reputation with senior executives in the business world.
- Distance Learning MBA, Full Time Programmes at all Levels
- Distance Learning MBA. There are various approaches to learning. Full time programmes at all levels require a career break of some sort. This may be acceptable especially for short courses or where you get leave of absence but you also have to consider access, location, timing, the quality of the group and of the deliverer. Local courses may be of restricted quality and you may not be able to afford overseas courses.
- Online MBA programs, The Continuing Development of Internet Technology
- Online MBA Programs. The online MBA is a relatively new development and as such there are very few business schools that are offering an MBA program entirely online. Many online programs still require students to attend mandatory residential courses as part of their syllabus. The length and frequency of these "contact" sessions vary depending on the school and program.
- MBA Rankings, Are a Great Way for Perspective Students to Select
- MBA Rankings. MBA rankings are a great way for perspective students to select between the best business programs offered at reputable universities. With future students in mind four main sources, The Financial Times, Business Week and The Economist publish a list of universities that offer the best program to earn a Master's in Business Administration. Taking the MBA rankings into account, perspective students will have a general idea of the status and value of their future degree in the business world. When selecting a school students should be aware of these rankings, even though they are debatable since they are seen by so many hiring companies.
- MBA Rankings, Business Week and U.S. News & World Report
- MBA Rankings. The ranking of business schools has been a controversial subject for a number of years. It is only recently, however, that they have become popular with the press, publicized and generally accepted. As a matter of fact, one of the principal reasons for the rankings has been the ability of the articles to boost the circulation of the magazines.
- Full-time MBA
- A global MBA with an Asia Pacific focus. Students can choose an Asia specific track such as China, Japan or Vietnam. Hawaiiâs only AACSB accredited MBA program. The cohort format fosters teamwork and peer learning
- Full-time MBA
- The Full-time MBA is an intensive one year programme, which offers a rigorous and challenging process of personal and management development.
- Part-time MBA
- The Part-time MBA is a 3 year part-time programme, designed for those working in a wide variety of managerial, technical and professional roles.