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Rigour and Relevance: Study at the top of the business education pyramid
The wealth of postgraduate business courses available can sometimes appear daunting, and for graduates considering a business career, making the right choice from a widening list of options is one of the most important career choices they will make.
The "BSc-work-MBA-work" versus the "BSc-MSc-work" career trajectory is one of the first choices to think about, but what about those wanting to take their education even further? The postgraduate courses at the upper echelon of education are the PhD, the relatively new EMBA (Executive MBA) and the even more recent innovation the DBA (Doctor of Business Administration).
Some of the perennial concerns for business school deans at the top of the education pyramid are those of proactivity versus reactivity, and rigour versus relevance. The world’s top business schools, in the postgraduate tier (MBA / MSc) must be seen to be innovative and creative, proactively creating a unique level of education for their students in what is often a very expensive undertaking.
This education must have practical applications to the business world, known by some academics as ‘business relevance’, allowing the graduate to take up a desirable position in a company of their choice. Most schools also have a responsibility to push back the theoretical boundaries of education and stimulate renown for exceptional faculty, research and publishing excellence. This is known as ‘academic rigour’.
Thus, many deans have to keep their fingers firmly on the pulse of the business world, be the first to react to movements within the industry, provide their students with a relevant business pedigree to open doors to an excellent career while simultaneously heading a business school renowned for outstanding academic rigour. Harvard, Wharton, Stanford and London Business School are among those pushing back the boundaries of academic knowledge while providing an undeniably relevant education to their graduates.
However, the number of MBAs out there in business is increasing incrementally, leading to a flooding effect. Despite evidence the MBAs are in a booming market, particularly in the fastest growing economies such as China and India, some MBAs are beginning to feel that they need to distinguish themselves even more and are considering further executive education. Angel Diaz, of IE Business School, supports this: “A lot of people also find MBA is a saturated market. There are a lot of people who want to make themselves stand out even more now.”
EMBA – Executive MBA
A relative newcomer to the business education family, the EMBA concept filled a need in the market for bright leaders and executives who had already accrued some years of experience. Unlike the more established MBA, targeted at a mid-to-late-20s age group and usually full-time, the EMBA provides study flexibility for the more experienced career profiler. Essentially it is an MBA for those who are further on in their lives and careers, usually in their 30s or 40s, and who were unable to take an MBA earlier in their working lives.
Applications to EMBAs are increasing year on year. Begoña de Ros Raventós, Assistant Director of Global Executive MBA at Spain’s IESE GEMBA, notes, “The profile of our EMBA candidates is getting older. The average age in our class this year is 38 years old, with a range that goes from 30 to 55. Many did not get a chance to take MBAs when they were younger, and want to acquire new skills, improve their earning potential, or simply be able to lead their teams better.”
The part-time and modular nature of most EMBA programs, usually taking place in the evenings, weekends or by distance-learning, allow those students to continue in full-time employment and live at home with their families while undertaking a thorough business education. Applications to EMBA courses were up nine per cent in 2005 and 16 per cent a year later and, according to recent figures, no fewer than 99 per cent of respondents would highly recommend the EMBA course they took.
