Issue link: http://www.e-digitaleditions.com/i/139946
Shorter MBAs: Three New Programs DAJ /G LOW I MAG ES AN MBA REQUIRES not only an invest- ment of money, but time. Many schools seek to reduce that time investment by designing shorter programs, as is the case for programs being offered by three U.S. schools this fall: ■ Thunderbird School of Global Management in Glendale, Arizona, is launching a one-year MBA in global management, which can be completed for about US$20,000 less than the former 20-month program. Because courses will be delivered in theme-based modules, students will take fewer courses, but take them concurrently and dive more deeply into coursework. Cross-enterprise courses will approach the same cases from different disciplines, which will allow students to study them from multiple perspectives. In addition, students can customize their degrees through various concentration areas, internships, and global learning experiences. Students can also prep for the one-year MBA by attending online boot camps. ■ Purdue University's Krannert School of Management in West Lafayette, Indiana, has revamped its Weekend MBA program. The length of the program has dropped from 35 to 21 months, while new features have been added, including elective courses, an emphasis on leadership and career training, and an international business trip. Under the new format, students meet on Fridays and Saturdays every other week; they also enjoy greater integration with students in the full-time MBA and other professional master's programs at Krannert. ■ The Kenan-Flagler Business School at the University of North Carolina in Chapel Hill has redesigned its evening and weekend EMBA programs to offer new features and more convenience for students. The schedule has been modified to include immersive weekend courses and tech-enabled modules. In addition, the calendar has been streamlined and the curriculum has been restructured, while new electives and global immersions have been developed. Funding Models for the 21st Century BUSINESS SCHOOL administrators are constantly re-examining their funding models for ideas about where they might find new sources of revenue. It's instructive to look at how and where funding differs across three major geographic regions—Northern America, Asia, and Europe. In all three regions, the bulk of the money comes from student tuition and associated fees. But schools in Asia and Europe receive substantially more money from nondegree executive education programs than schools from Northern America do, while schools in Northern America are more likely than their counterparts to raise money from private gifts and grants. Both Asian and Northern American schools have more endowment funds to draw on than European schools. Differences among regions can be explained in part by variances in cultural norms. For instance, many European countries adhere to the belief that higher education should be funded by society, not financed by individuals. But as competition grows more fierce and educational institutions face ongoing challenges, it might be time for schools in all quadrants of the globe to study the funding models used by their peers—some of which are suggested in the numbers below—and borrow some of their more successful tactics. Where Do B-Schools Get Their Funding? Asia Tuition and subsidies 76.82% Nondegree education 7.01% Private gifts and grants 1.66% Endowment funds 4.16% Grants and contracts 3.47% Other student charges 1.05% Private contracts 0.52% Other sources 5.32% Europe 69.01% 12.72% 0.61% 2.16% 3.77% 3.05% 2.90% 5.77% Northern America 80.97% 1.36% 5.25% 4.89% 1.70% 2.64% 0.35% 2.83% Information is drawn from AACSB International's 2011–2012 Business School Questionnaire, in which 422 schools participated. BizEd July/August 2013 11