TopMBA.com looks at the Executive MBA's evolution from a small, highly-specialized degree to one of the most popular courses available.
When the Executive MBA was first dreamed up by the Booth School of Business at the University of Chicago in 1943, some within the industry expressed concerns that the part-time program could detract from the value of the traditional MBA qualification. The EMBA was at risk of being thought of as an "MBA lite", a pseudo-qualification that offered professionals the chance to propel themselves to boardroom level, but without spending the two years in the classroom that were traditionally required.
Judge Business School at the University of Cambridge, for example, has attracted a significant proportion of non-traditional students, including an equine vet, a member of the US Air Force and a celebrity party planner, by developing an ethos built around learning from the diversity of other students’ experiences.
Other EMBA programs are focusing on developing the cross-cultural skills and contacts necessary to succeed in the global market. A leading advocate of this approach is the OneMBA, a collaboration of resources from top business schools in Mexico, Brazil, the Netherlands, Hong Kong and the USA. Although students are based at their home university, attending classes every four to six weeks, they also undertake four global ‘residencies’ at business hubs around the world.
Seventy years on, the EMBA is going from strength to strength. In 2010, 59% of schools surveyed by GMAC reported a sharp increase in applications, the highest increase among all variants of the MBA programme.
Something that may have contributed to this is the recent effort business schools have made to distinguish the Executive MBA from the traditional full-time program. Whereas the class of 1943 would have learned straightforward business strategy, marketing and finance, many of today’s leading EMBA classes take a far more innovative approach to teaching the leaders of tomorrow.
Diversity and globalisation
Diversity and globalisation are two buzzwords that are hard to get away from in today’s business world. But just as companies are learning lessons of a more homogenized international marketplace, so are business schools.
The EMBA offered by the Keith Mahoney, says: “I wanted more than just a field trip with US professors offering the same courses overseas. What I learned from being able to hear local professors and executives describe what it’s like to do business in Europe, Asia and Latin America has proved truly invaluable.”
Operating under the premise that its just as important for business education to address holistic needs, as it is to teach students to read a balance sheet or manage a marketing campaign, the University includes a ‘Wellness Program’, a course designed to enhance body, mind and soul.
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