New Algorithm Improves Test Efficiency, Accuracy
Extending GMAC’s commitment to test security and integrity, senior manager Chris Han has developed a new algorithm that makes more efficient use of the question pool included in a computer adaptive test. Compared with other CAT algorithms, the new method Han developed can substantially increase measurement efficiency by improving the level of item pool use while still retaining or even improving the overall measurement accuracy. Han’s work was the lead article in the Fall 2012 issue of The Journal of Educational Measurement, one of the most respected peer-reviewed journals in the measurement field, published by the National Council on Measurement in Education.
ISB, CEIBS Chart New Ground
In the context of rapidly evolving global geopolitics, business schools are making history in Asia. Last month, the Indian School of Business and Institute of Business Administration in Karachi started their first joint executive education program in Pakistan. The program, “Leadership Skills for Top Management,” is designed to help business executives and government officials to hone their leadership skills and drive growth through exceptional performance. The program was also a milestone for ISB’s Centre of Executive Education, one of the largest providers of executive education in Asia, which also has partnerships in Oman and Sri Lanka and plans further expansion.
Last month, too, CEIBS dean John Quelch became one of the first business school deans to visit Myanmar following the lifting of economic sanctions on the country. Addressing what was reported as a large and enthusiastic audience of private sector business executives in Yangon, Quelch said “professional managers and leaders are essential to economic development. CEIBS stands ready to assist Myanmar in shaping the next generation of entrepreneurs and business leaders.”
University of Rhode Island Redesigns MBA
The University of Rhode Island has redesigned its one-year MBA program and moved it to the university’s campus in downtown Providence, Rhode Island. Focused on how to manage, design, and implement strategic innovation, the program is based on principles of continuous improvement and structured around sequential two-week modules. The curriculum is team-taught; as they focus on functional areas, faculty emphasize critical thinking skills, evidence-based decision making, and interpersonal communication. Moving the program downtown brings students closer to businesses and business leaders.
“Disruptive innovation in business is becoming the rule, not the exception, and this new program will ensure our students can thrive and compete,” says Mark Higgins, dean of URI’s College of Business Administration.
INSEAD Starts European Competitiveness Project
INSEAD has launched a broad research and outreach project designed to advance long-term global competitiveness of European businesses and institutions. Through the European Competitiveness Initiative, more than 25 INSEAD professors will lend their thought leadership to research projects and case studies to enhance understanding of the unique opportunities and challenges that companies face in Europe today. The project seeks to develop insights that can help enhance businesses, improve global competitiveness, and create jobs and social value.
EMBA Scholarship Support Increases as Tuition Reimbursement Declines
Data from the Executive MBA Council show the evolving economics of paying for EMBA programs. According to the Council’s 2012 membership program survey, more EMBA programs are offering scholarships or fellowships—the total moved from 38.8 percent in 2008 to 47.6 percent in 2012. The survey found that, between 2011 and 2012, the percentage of students receiving full financial sponsorship from employers decreased from 27.3 percent to 25.9 percent and the percentage of self-funded students increased from 36.9 percent to 39 percent.
The survey also found that EMBA programs are increasing their use of technology—use of social media has increased dramatically—and expanding their outreach to alumni and corporations. EMBA programs are delivering almost a third (28.9 percent) of materials electronically, more than double 2010’s percentage of 12.3.
EMBA students average 8.5 years of managerial experience, the same as 2011. The average years of work experience increased from 13.3 in 2011 to 13.6 in 2012. The average GPA stayed the same as 2011 at 3.2.
In another recent survey, the Council found that salary and bonus packages of recent EMBA graduates increased by 17.3 percent from program start to program end. The average salary and bonus package rose from $140,587 at the start of a student’s program to $164,845 at graduation. . Both average starting and ending salaries increased from those reported in the 2011 survey—$135,323 in average starting salary and bonuses and $157,423 in average ending salary and bonuses, a 16.3 percent increase.
Anonymous Donor Gifts Books to Weatherhead Students
Saying he wished that someone had given him a similar resource earlier in a life, a 1971 alumnus from the Weatherhead School of Management at Case Western Reserve University has given all incoming graduate students at the school a copy of the New York Times best-seller The Millionaire Next Door.
“There are many ways to become wealthy, and I didn’t fit the corporate mold,” says the books’ donor, who chose to remain anonymous. “This book offers a recipe for success for becoming wealthy that mirrored my own life.”