Issue link: https://www.e-digitaleditions.com/i/63446
I'll give you 80 percent,' or they'll use tuition class once a week, they choose a school nearby. Consequently, says Ravenscraft, "EMBA competition has not turned out to be a numbers game like the daytime MBA competition. Working executives have fewer choices. Thus they can perform careful due diligence on a few select schools. They can visit the school and talk to faculty, staff, current students, and alumni." Focus on the Future With so many schools courting participants for existing EMBA programs, or adding new programs to their schedules, is there any danger that the market might become oversaturated? Industry observers have noted a slowdown in the creation of new programs, and they have given some thought to the effects of the September 11 events in the United States and the subsequent downturn in the economy. Nonetheless, they fore- see a continuing need for degreed executive education. as well as the quality of guest speakers. "They're looking beyond lectures and class discussions," Bobinski says. In addition, three years ago when the first satisfaction sur- veys were conducted, students ranked the quality of finance classes as a very important consideration. This year's survey showed that students across the board were more interested in the quality of the management classes. Bobinski theorizes that EMBA students, who have a high degree of proficiency in their functional areas, have come to realize that they need to pay more attention to the so-called "soft skills" of people management. In addition to looking at student satisfaction, the EMBA Council commissions a benchmarking survey that covers the vital statistics of running such a program. It asks program directors how many hours of classroom time are required, how many hours are devoted to particular subjects, how the budget is allocated, and dozens of other questions. Last year, 77 schools participated in this survey, helping the council compile industry standards that lead to best practices for all schools involved in such programs. Such surveys give program administrators a mandate for effecting change in their own programs. "They provide food for thought to every program director who participates," says Kate Livingston, chair of the Council's benchmarking task force. "If the director is saying, 'We should change this about our program,' it gives him concrete measurable data. He can say, 'All these other public schools are getting a seven in this area, we're getting a four.' Or, 'We're doing great in this area, we need to keep it up.' The ammunition is based on quantifiable data, not anecdotal evidence." reimbursement." counter to the economy," says Kalnitz of the EMBA Council. "In good times, people say, 'Why do I need a degree? See how successful I am.' When times get a little rough, people begin to think, 'I have to add to my portfolio. I have to add value to myself.' And they view an MBA as a way of doing that." However, the recent terrorist attacks and resulting eco- "Business school enrollment sometimes tends to run nomic woes don't translate into your average run-of-the-mill recession. "We're wondering if people are going to feel the economy is so awful and the world is so uncertain they just don't know if they want to commit to a year-and-a-half or two-year program," says Kate Livingston, a member of the Board of Trustees of the EMBA Council and chair of the committee's benchmarking task force. Livingston, who is also director of the Executive MBA program at University of New Mexico in Albuquerque, is concerned that a bad economy might have a domino effect on schools offering EMBA degrees. Executives could be less interested in pursuing a degree if they're worried about their company's stability or its ability to reimburse them for tuition, Livingston says. Terrorism also has led to fears about international travel, Kalnitz points out. He expects some schools that previously made travel mandatory will now make it optional, but he also expects that attitude to be short-lived. More damaging to some programs, he says, might be the fact that military reservists are being called up to serve in the armed forces. Whether the reservist is the EMBA student or the spouse, the result could mean students pulling out of programs. Nonetheless, in the long haul, Kalnitz and others believe EMBA programs will thrive. "I expect them to improve as we all learn new ways of doing things," Kalnitz says. "I expect cur- ricula to adjust as they continually have adjusted to new things. I expect growth in international alliances. I also think that over time schools will be adding more elements with nonacademic value, like career planning. This doesn't mean changing jobs— but teaching executives that it's fine to have a career within the company. Schools should help students and companies recog- nize the value of what the student is learning, so that the com- pany recognizes and utilizes all their knowledge." EMBA programs also will prosper because they offer schools so much: a chance to strengthen ties with local cor- porations; an opportunity to expand course offerings by appealing to a whole new set of students; and an avenue for improving their status within the business school community. EMBA programs also offer schools a chance to increase their name recognition worldwide when they partner with institu- tions across the globe. Even in an uncertain economy, these advantages add up to success. ■ z BizEd JANUARY/FEBRUARY 2002 51