Issue link: http://www.e-digitaleditions.com/i/535050
44 BizEd JULY | AUGUST 2015 Appreciate the immeasurable benefits. EMBA programs certainly provide measurable benefits to busi- ness schools, including improved revenue and reputation. But business schools too often overlook their long- term immeasurable benefits, such as the professional capital and contacts that EMBA students bring to the table. For that reason, it's important that business school deans and EMBA program directors not only appreciate such advantages, but also capture and capitalize on their value and communi- cate that value across the university. GETTING THE EMBA RIGHT While many business schools might not choose to follow all of these recommen- dations, some are already beginning to make changes. Ironically, one school that I've seen that seems most in step with today's EMBA market has never offered a traditional EMBA: Babson College in Babson Park, Massachusetts. Even so, the school has tailored its Blended Learning MBA to executives in the ways mentioned above (see "The Great EMBA Expansion" on this page). We can be sure that degree programs for executives always will be in high demand, but we also must recognize that executives and other working pro- fessionals today seek different options and outcomes than what most EMBA programs have offered in the past. For business schools, the implication of this shift in the market is clear: Keeping the status quo is not a good long-term strategy. If business schools are to ensure that demand will remain high for their EMBA programs, their deans and program directors need to examine closely the structural changes within the industry and continually rethink and adjust their EMBA offerings. These recommendations are just the start. Francis Petit is the associate dean for academic programs at Fordham Univer- sity's Gabelli School of Business. in New York City. The type of students who enroll in EMBA programs might be changing, but EMBA programs themselves are still popular options among working profes- sionals. According to the Executive MBA Council (EMBAC), inquiries to EMBA programs at its member schools increased worldwide by 9 percent in 2014, reversing a downward trend over the past few years. Overall, these EMBA students want three attributes in their programs: a great brand, a convenient format, and professionally diverse classmates, says Francis Petit of Fordham University. "If you can combine those three things, the student satisfaction rate will be extremely high." What strategies are schools adopting to make sure their EMBA programs stay relevant to the market? Here are just a few: Embracing "glocal" education. The Cornell Executive MBA Americas pro- gram aims to combine the best of both worlds—face-to-face experiences in students' local markets and residencies in different countries. Offered jointly by Cornell University's Samuel Curtis Johnson Graduate School of Management in Ithaca, New York, and the Queen's School of Business in Kingston, Ontario, Canada, the 17-month program has been offered to students at 11 locations throughout the U.S. and six in Canada. Students meet face-to-face for class ev- ery other weekend in boardroom-style environments in the city closest to where they live or work. Faculty deliver live lectures via video conferencing technology. All students attend three residential sessions of between seven to 15 days each at either the Ithaca or Kingston campus. This year, the program was expanded to include two locations in Mexico. That decision "was based on wanting to create the most diverse student experience possible," says Camilla Morgan, senior director of admissions and marketing for executive MBA programs. For the class of 2017, the school plans to expand to two more locations in South America. Of the students enrolled in the class of 2016, 57 percent are from the U.S., 36 percent are from Canada, and 7 percent are from Mexico. The school's goal is to enroll approximately 10 percent of the class of 2017 from South America. Joining forces. In January 2016, IESE Business School in Barcelona, Spain, and China Europe International Business School (CEIBS) in Shanghai will launch the World Executive MBA, a joint program that targets senior leaders whose responsibilities cross international borders. The program combines online coursework with six eight-day residential modules, each delivered at one of CEIBS' campuses in China and Africa or one of IESE's campuses in Spain, Ger- many, Brazil, and the U.S. Students also complete an elective five-day residency in Barcelona, Munich, New York, São Paulo, or Silicon Valley, or in a city in India or Africa. In the five weeks between each residency, students complete course- work and personal development activities online, which includes preparation for their next residency. The program ends with a six-day residency in Barcelona. The schools expect between 30 and 40 students to enroll in the World Execu- tive MBA program. Emphasizing the experiential. In response to demand for more experiential learning opportunities, in 2013, the Haas School of Business at the University The Great EMBA Expansion