Issue link: https://www.e-digitaleditions.com/i/62913
■ Do your research. The Smith School encountered problems when we first entered China because we didn't do enough research to fully understand the new market. It's important to grasp in advance what language barriers might exist, what blended learning options will work in this market, and what the appropriate price points might be. ■ Get involved with mission- focused organizations. One such organization is the Global Business School Network (GBSN), whose mission is to strengthen global busi- ness education. (See "Developing the World," on page 30.) The Smith School joined GBSN in the fall of 2009, and we co-hosted the group's annual conference in Washington, D.C., in 2010. At the time, many GBSN participants were discuss- ing new ways to collaborate. As a result, we have begun working on faculty and student exchanges to new areas, including Nigeria, Kenya, and South Africa. ■ Travel to emerging markets. Through GBSN, I was introduced to Ishrat Husain, dean of the Insti- tute of Business Administration (IBA) in Pakistan, and I visited his institution in August 2010. It was an eye-opening trip to a country where terrorism, violence, and poverty are everyday concerns and have real impacts on business. But I experienced IBA's commitment to quality education and saw evidence of the leadership's global networks that will ensure academic and finan- cial success. ■ Collaborate in other markets for specific projects. The Smith School's Dingman Center for Entre- preneurship has been partnering with Peking University's Guanghua School of Management in Beijing to offer our China Business Plan Competition, an entrepreneurship contest that marked its seventh year in January 2012. A couple of years ago, our students teamed up with Guanghua's students to create businesses together and learn about entrepreneurship for a semester. Chinese students traveled to Col- lege Park in August of 2010, and our students traveled to Beijing for the final competition the follow- ing January. We continue this rich relationship, which has become a standout experience for our stu- dents and the students in China. ■ Start small, then grow. Enter- ing a new market doesn't have to mean offering a full degree program at first. There are many other ways to forge partnerships that could lead to deeper relationships later. For instance, we focused on short-term executive programs when we launched our partner- ships with Indian business schools, specifically the Management Devel- opment Institute in Gurgaon, near New Delhi, and the Indian Insti- tute of Management in Bangalore. Starting small allowed us to learn not only the dynamics of Indian schools, but also the realities of the market for business education in India. Our expectation is that we eventually will create several joint degree programs in India: special- ized master's programs in finance and supply chain management, as well as an MBA program that uses state-of-the-art distance learning technologies. ■ Play host to delegations from other institutions. You never know what opportunities can arise when your institution is open to visitors from foreign universities and busi- ness schools. New Developments Today, Brazil, Russia, India, and China are the emerging economies that get most of the attention, but new markets are opening up in South America and the Middle East. As business school leaders, we must continue to engage with the BRIC nations as they become more dominant, but we also need to consider how to get involved in other countries as they develop. At the Smith School, we're focused on getting our China strat- egy right, but we're also committed to exploring many other markets globally. We believe that, as we refine our approach and expand our reach, we'll not only reap ben- efits for our school, but also pro- vide tangible benefits to emerging markets. We'll look for that "better way" Bob Smith spoke of in his 2008 commencement speech—hop- ing, as he suggested, that it will lead us to great success. G. "Anand" Anandalingam is dean of the University of Maryland's Robert H. Smith School of Business in College Park. BizEd May/June 2012 29 PHOTOALTO/GLOW IMAGES