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Biz Buzz: What’s New in Graduate Management Education

GMAC Launches Websites for Students in India, Africa

GMAC has tailored new websites for potential graduate management students in India and Africa.

The site in India, mba.com/India, includes detailed information about business schools in India and abroad, including those that accept GMAT scores, as well as information about paying for MBA programs. Video testimonials by Indian students narrate individual experiences preparing for the GMAT and gaining admittance to business school.

“We’ve seen dramatic growth in the number of Indian candidates interested in pursuing management education over the last several years,” said Ashish Bhardwaj, GMAC regional director for South Asia. “Also with significant growth in acceptance of the GMAT at Indian business schools, these candidates have more choice. This new site will help them navigate the path to a quality graduate management degree with content designed specifically for this market.”

Similar to the site in India, the new GMAC website mba.com/africa provides abundant information about the GMAT and graduate management education targeted to assist students in Africa who are interested in studying management on the African continent or abroad. Videos feature students and school professionals discussing how to succeed in the school application process and specifically about the GMAT exam.

Building Is Booming at Business Schools

Recession or not, many business schools are currently in the process of expanding their physical plants.

In September, Dezsö J. Horváth, dean of York University’s Schulich School of Business, was in India, reviewing architectural drawings for his school’s new MBA campus in Hyderabad, a partnership with the GMR Group. Under the deal, GMR will build a C$100-million campus, including classrooms and residences for students and faculty, and lease it over 20 years to Schulich for US$1 a year.

On October 6, officials at Northwestern University announced that Kuwabara Payne McKenna Blumberg Architects have been engaged to design a “global hub” for the Kellogg School of Management on the shores of Lake Michigan. The building will be located adjacent to the school’s Allen Center, which is used for executive education and executive MBA classes. It will include classrooms, community gathering spaces, flexible learning environments, and faculty and administrative offices.

The University of South Carolina has broken ground for its Darla Moore School of Business. Designed by Rafael Viñoly Architects of New York, the building was designed to high standards for sustainability and energy efficiency, and has an open interior to help encourage collaboration.

After nearly 50 years in the same building, Oklahoma State University’s Spears School of Business has announced plans to move into a planned 200,000-square-foot building, for which the university is raising funds. The facility will more than double the size of the business school’s current 80,000-square-foot building.

Groundbreaking took place October 13 on a US$85 million, 155,800-square-foot building for Rutgers Business School-Newark and New Brunswick. The facility will help the school expand programs and accommodate more students.

On October 29, the WP Carey School of Business at Arizona State University broke ground for McCord Hall, a 129,000-square-foot building that will complement its two existing structures.

Thunderbird School of Global Management has broken ground on a facility to house the Najafi Global Mindset Institute, an international research center dedicated to studying the quantitative attributes that make international managers successful. The Institute has been funded by 46 individual donors, including a lead donation of nearly US$2 million from Thunderbird Trustee Francis Najafi.

In Albany, New York, the College of Saint Rose has broken ground for a building to house its Huether School of Business. Ground has also been broken for the US$10.65 million Harland C. Stonecipher School of Business and ECU Conference Center at East Central University in Ada, Oklahoma.

Haas Implements Diversity Plan

In a university that is already diverse by many standards, a new initiative in diversity at the Haas School of Business at the University of California-Berkeley is being touted on campus as a best practice.

Goals for the diversity initiative include tracking faculty efforts to promote diversity through teaching and to conduct diversity research; increasing the diversity pipeline for all graduate programs; securing US$500,000 in funds for diversity scholarships and special initiatives; recruiting and selecting a diverse staff; and building awareness of the importance of equity, inclusion, and diversity across all Haas populations. Plans to hire a part-time diversity director are also under way.

This year’s entering full-time MBA class was the first to apply to Berkeley-Haas since the school re-entered the Graduate Consortium for Study in Management last March. Applications from under-represented minorities for the class of 2013 jumped 44 percent, and the percentage of under-represented minorities enrolled nearly doubled to 9.6 percent of the class—the highest percentage in recent years.

CHUK Rebrands Faculty of Business Administration

The Chinese University of Hong Kong has rebranded its Faculty of Business Administration. Replete with a new logo, the faculty will now be known as CUHK Business School.

“The new brand is one component of a wider drive to communicate the strengths of our research and teaching,” said Professor TJ Wong, dean of CUHK Business School and Chair Professor of Accountancy. “It’s not just about a new logo, but about curriculum development—ensuring that the Business School offers a coherent set of programs to develop the next generation of global business leaders for the Asian century.”

 

NEWS IN BRIEF

  • Thomas Sargent, William R. Berkley Professor of Economics and Business at New York University’s Faculty of Arts & Science and the Stern School of Business, was awarded the 2011 Nobel Prize in Economics. Sargent shares the prize with Princeton University’s Christopher Sims. In awarding the prize, the Nobel Committee cited “their empirical research on cause and effect in the macroeconomy.” Sargent joins Robert Engle and Michael Spence as the third Nobel Laureate at NYU Stern.
  • Research conducted by IMD professor Jack Denfeld Wood, INSEAD professor Gianpiero Petriglieri, and Jennifer Petriglieri, a postdoctoral fellow at Harvard Business School has received the 2011 GMAC award for the most significant contribution to graduate management education from the Academy of Management.
  • Honest Tea co-founders Seth Goldman and Barry Nalebuff  have provided US$500,000 to create the Seth and Barry Social Enterprise Fund at the Yale School of Management. The fund aims to foster leaders determined to have an impact on society and business. Goldman, a 1995 SOM graduate, is Honest Tea’s president and TeaEO. Nalebuff is the Milton Steinbach Professor of Management and former Honest Tea chairman of the board.
  • The UCLA Anderson School of Management at the University of California-Los Angeles has changed its criteria for admitting international students. Noting that it was seeing more applicants with three-year bachelor’s degrees, the school said it will now “use our discretion to admit candidates with three-year undergraduate degrees if we determine that their entire academic profile and overall application are strong enough.” The school also will consider applications without English-language proficiency test scores if the candidate earned a degree where the sole language of instruction was English.
  • Chapman University and the Rady School of Management at the University of California-San Diego have joined with Caltech, the University of California-Los Angeles, and the University of Southern California in First Look West (FLoW), a partnership that will develop competitions to inspire students to come up with innovative business plans involving clean-energy technology. The group has US$360,000 in funding from the U.S. Department of Energy. Other partners include the energy company OnGreen, Inc, and student leaders from campus groups.

FROM THE FUNDRAISING DESK

Kicking off the public phase of a US$1 billion capital campaign, Case Western Reserve University announced a US$50 million pledge from the Weatherhead Foundation, half of which has been designated for the Weatherhead School of Management.

Babson College’s “Babson Rising” campaign has raised more than US$200 million, making it the largest and most successful fund-raising drive in the history of the college. With the help of two anonymous bequests totaling US$58.7 million, Babson Rising has raised more than US$204 million to date, successfully exceeding its fundraising campaign goal nearly four months before the campaign’s scheduled closing date. 

The University of Colorado at Boulder has been selected as one of six recipients of US$2 million in funding from the Department of Energy to create a network of student-focused clean-tech regional competitions as part of a broader strategy to expand the nation’s renewable energy efforts. The other awardees are the Massachusetts Institute of Technology; the University of Maryland; Clean Energy Trust in Chicago; Rice University; and California Institute of Technology.

J. David and Patricia Maloney Rogers have given a US$1 million challenge grant to the Smeal College of Business at Pennsylvania State University to help spark fundraising for the Rogers Family Trading Room at the school.

Montana State University has received a pledge of US$25 million from alumnus Jake Jabs to support the MSU College of Business.

Dalhousie University’s School of Business has received a gift of C$15 million from businessman Ken Rowe.

The University of Nevada, Las Vegas has received a US$15 million donation from the Ted and Doris Lee family for its business school, which it will name after the donor family.

Canadian Mennonite University has received C$6.5 million to create the Redekop School of Business, named after the donors.

The University of Victoria has named its graduate business school the Sardul S. Gill Graduate School of Business, honoring the namesake’s C$5 million gift to the university’s Gustavson School of Business.

Oklahoma Wesleyan University has received a US$2 million commitment from Chesapeake Energy Corporation to support its Keating Institute, dedicated to the study of free enterprise, constitutional liberty, the rule of law, federalism, and Judeo-Christian values. The Keating Institute will house the Oklahoma Wesleyan School of Business, which will be renamed The Chesapeake Energy School of Business.

Mike McCallister, the chairman and CEO of Humana, and the Humana Foundation have donated US$1 million to McCallister’s alma mater, Louisiana Tech University. Half the funds will help support construction of a building for the school’s College of Business.

NEW PROGRAMS

Ashridge Business School has announced that it will expand its programming in the United Arab Emirates this academic year, eventually offering 35 executive postgraduate education programs. … Duke University’s Fuqua School of Business will launch the Dubai Duke Leadership Workshop next month. The workshop is an adapted version of the Duke Leadership Program, part of the Fuqua executive education portfolio, and marks the first time the program will be held outside the United States. Fuqua has also announced that it is assisting Nazarbayev University in Kazakhstan in creating a business school. … Rotterdam School of Management, Erasmus University and Maastricht University School of Business and Economics have partnered to launch an Executive Master of Science in Business Services program, developed with representatives from the manufacturing industry. … To help understand the nature of change in communities and economies, ESSEC has created a multi-company research chair on the theme of change. Partners include the Centre for Research on Organizational Transformation at HEC Montreal and CRECIS, a multidisciplinary research center at the Louvain School of Management. … In partnership with IBM, Fordham University has created a Center for Digital Transformation, designed to conduct research and develop curricula related to business analytics. … Georgetown University’s McDonough School of Business is introducing executive development courses on global engagement and embracing change, and plans courses on climate change, brand advantage, corporate responsibility, and finance for non-financial managers. … The George Washington University School of Business and the Renmin University of China International College are offering a joint program for Chinese students pursuing a Master of Science in Finance. … Harvard Business School has scheduled seven executive education programs at the HBS India Research Center in Mumbai. Programs for 2012 include four programs offered for the first time in India: Launching New Ventures, Aligning Strategy and Execution, Leading Innovation, and Leadership and Corporate Accountability. … Penn State University has formed an interdisciplinary research center to study the strength and security of the global financial system. A joint effort between several colleges and units at Penn State, the Center for the Study of Global Financial Stability is led by John Liechty, professor of marketing and statistics at the Smeal College of Business. … Singapore Management University and the Singapore University of Technology and Design have agreed to partner on educational programs, research, and student and faculty exchanges. … The Edwin L. Cox School of Business at Southern Methodist University has opened a trading center, the Kitt Investing and Trading Center, named for donors who are parents to two Cox students. … UCLA Anderson School of Management at the University of California-Los Angeles has started a dual-degree executive MBA program in partnership with Universidad Adolfo Ibáñez (UAI) in Chile. Created for senior executives with professional responsibilities for Latin America or the Americas, the 15-month, part-time UCLA-UAI Global Executive MBA for the Americas program will be delivered over six two-week course modules held in Miami, Los Angeles, São Paulo, and Santiago. …

The University of Connecticut School of Business has opened the Stamford Learning Accelerator, described as a “collaborative, multi-disciplinary learning space” where students, faculty, and corporations will partner on projects that create experiential learning experiences for student teams. … The University of Maryland’s Robert H. Smith School of Business has extended its partnership with the University of International Business and Economics in Beijing. The partnership includes the Sino-Smith Executive MBA, which will be taught mostly by Smith School faculty members in China. Students will earn an MBA from the Smith School and a Certificate of Advanced Study in Management from UIBE. …

To better coordinate its global engagement and related research and outreach, the Carlson School of Management at the University of Minnesota has created the Carlson Global Institute. … The Australian Graduate School of Management at the University of New South Wales has added a Master of Business & Technology degree program. … The Wharton School of the University of Pennsylvania has officially launched a business certificate program for India. Designed to meet the current needs of high-potential business leaders in India, Wharton’s Accelerated Development Program includes courses on strategy, finance, marketing, and leadership. The school has also launched Wharton Executive Education Essentials, a line of digital books for managers written by faculty who teach Wharton Executive Education courses, and created the Wharton Innovation Fund, intended to promote the design of creative technologies or services that can make a substantial impact on business and society and to help move important projects that originate in the school to the marketplace. … The University of Texas at Dallas has named its management school the Naveen Jindal School of Management. The school plans a 10,000-square-foot addition to its business school. … The University of Toronto has created the India Innovation Institute, a joint venture of the Rotman School of Management and the Munk School of Global Affairs, dedicated to the study of innovation in India. …

In the United Arab Emirates, Al Ghurair University has started an MBA program. … Annamalai University in Tamil Nadu, India, has partnered with HCL Learning to offer an online MBA-IMS (Infrastructure Management & Security)  program. …California State University, Stanislaus is launching an online MBA program, touting it as the state’s first fully online MBA program accredited by the AACSB. … Drexel University’s LeBow College of Business has started a MS in Leadership program. … IFIM Business School in Bangalore has started an executive MBA program. … The School of Business at Houston Baptist University plans to start a Master of International Business program this fall. … Hult International Business School has unveiled plans for a London campus. … Husson University in Maine has announced plans to offer MBA classes at The Jackson Laboratory in Bar Harbor. Students will be able to complete their MBAs in two to three years through a combination of online classes and classes taught on site. …

The Karachi School for Business & Leadership, established through a strategic collaboration agreement with University of Cambridge Judge Business School, has started an MBA program. … Liberty University is naming its Graduate School of Business the AW and Lois Overton Graduate School of Business, after longtime supporters of the University. … The H. Wayne Huizenga School of Business and Entrepreneurship at Nova Southeastern University has added MBA concentrations in logistics, process improvement, supply chain management, business intelligence, conflict resolution, and information security. … Rowan University has opened a hands-on trading room. … Extending an existing partnership between the two schools, the Sri Lanka Institute of Information Technology and Sheffield Hallam University in the UK have announced plans to offer the SHU MBA program in Sri Lanka. … The A. Gary Anderson Graduate School of Management at the University of California, Riverside has launched a PhD program with a cohort of six students. … The University of Louisville’s College of Business has added concentration in health sector management to its Weekend MBA program. … The University of South Alabama Mitchell College of Business has received approval from the Alabama Commission on Higher Education to offer a Doctor of Business Administration program. … Xavier University’s Williams College of Business has created the American Dream Composite Index, dubbed “the only statistically validated measure of the American Dream and a predictor of future consumer behavior.”

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