Submitted by: Price Paramore (Turkey), Oklahoma State University/US Air Force
Summary: Teaching is a fundamental way to comprehend material presented in the academic arena. It is through this method that I propose growth for students, academic institutions, and management education in the local community impacting the global market as a whole. Proctored students will teach certificate programs in their local communities propagating the workforce earning power and increasing enrollment for business schools around the globe. The project name is Augeo, Latin for to expand or grow.
Full Description: Aristotle is quoted to have said, “Teaching is the highest form of understanding”. The one idea that will change the way business schools operate and how people, nations and cultures grow, I submit, is teaching. I have lived in Russia and I am now living in Turkey and I have seen the truly destitute, living day by day. They work for a better future, but their hopes are dashed by the ever present monster called ignorance. Business is the way the world works, it is how we live, yet active or hopeful entrepreneurs do not understand finance tactics, marketing, or the basics of accounting. They need knowledge to break the suffocating bands of inaptitude. I am proposing that schools and students take an active role in their communities and provide short-term (8-12 week) certificate programs. The “Augeo” certificate program will give business owners and entrepreneurs in local communities an opportunity to learn sound practices in all areas of business for a reasonable investment of time and money. Owners will be able to assimilate what they learn and propagate their local businesses to provide a better life for them, their families, and their community. Proctored students who are teaching the programs will be able to understand current academia by vesting and applying their knowledge in current business industries. In each case all three parties, students, business managers, and academic institutions, benefit in the mutual exchange of ideas and learning.
The top two reasons listed for students not pursuing business degrees were financial and time constraint issues. Supplying the business world with certificate programs will allow labor markets to equitably invest for future career growth, without having to sacrifice extraneous amounts of time and money. In much the same way the information technology industry has developed short-term certificate programs on very specific knowledge bases, so too can the business/finance industry better equip its workforce. Resolving limiting factors, a surge of demand will incur from an educational thirsty workforce therefore propagating the need for an increase supply, or future sales for academic institutions. Those institutions will be able to produce a supply of certificate programs by using its student base, which are trying to gain credit hours or part time employment, in much the same way residency programs work. Students will have an opportunity to gain a better working concept of academic principles by teaching a slightly older and experienced workforce. For prospective students from 24 to 31 years of age, the search for local programs vs. national programs increased by 62%. The Augeo project will create certificate programs in local and regional markets working to bring the knowledge to the workforce not vice versa. In developing countries it is crucial that educational programs are localized to the population.
The Augeo project will be successful because it will expand school enrollments, increase the workforce earning power, and improve the students’ academic experience. Business schools will have more ownership by creating tailor made curriculums to the regional workforce, e.g. Aeronautical Business Management in Wichita, Kansas where companies like Boeing, Spirit, Hawker Beechcraft, and Cessna reside or Natural Energy Management in the oil rich region of Saudi Arabia. Specific 8-12 week curriculums will entice more students to enroll. If the 2-3% that postponed or quit their business degree search due to financial and time constraints and an additional 3% can be attracted each year, then enrollment would increase 5-6% per year. For a school of 500 business students that is only 30 the first year, however it would increase to 96 by the 3rd year. A 19% increase in three years! Though these enrollments are for shorter terms, some students could cross-over to permanent degrees. All in all it is a win-win situation for students, the workforce and business schools. Students gain valuable experience and a more concrete academic knowledge, entrepreneurs and managers gain needed skill sets for career progression, and institutions see higher enrollment rates. Everyone achieves sustainable local growth on a global scale in this new and innovative program!
Source: 2010 GMAC Registrants Survey
Augeo – Latin (verb), to expand or grow