Management Education: A View from Chicago


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Rachel Waites, Associate Director Executive Education EMEA, University of Chicago | Booth School of Business

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Management Education: A View from Chicago

  1. 1. Management  Educa-on:  A  View  from  Chicago  
  2. 2. The University of Chicago■  A world-renowned institution for more than a century.■  Leaders who have changed the world in nearly everyfield and industry.■  More than 84 Nobel laureates among our alumni, faculty,and researchers.
  3. 3. Booth CampusesChicago: Gleacher Center
  4. 4. London: Woolgate ExchangeBooth Campuses
  5. 5. Singapore: House of Tan Yeok NeeProgram Campuses
  6. 6. Management Education: TheEnvironment
  7. 7. How can we develop managers whoare….•  Smart•  Savvy•  Insightful?
  8. 8. Elements of High PerformanceRethinking Management Education, Davis and Hogarth 2012
  9. 9. Insight and Action Skills•  Collect experiences in a critical way – write them down,reflect – seek feedback•  Challenge your own beliefs by looking for disconfirmingevidence•  Understand that ‘intuition’ depends on extracting andinterpreting data•  Recognise the value of multiple viewpoints•  Experiment, make changes to your actions•  If you don’t write it down, it doesn’t exist•  Question everything!
  10. 10. Chicago’s PhilosophyRethinking Management Education, Davis and Hogarth 2012Insight Skills
  11. 11. Where can we help?Elements Responsibility MeansConceptualKnowledgeFaculty StudyDomain Knowledge Company WorkAction Skills Students (with helpfrom faculty andcompany)On-going practiceInsight Skills Students (with helpfrom faculty andcompany)On-going practice
  12. 12. The Chicago ApproachWe famously teach leaders “How To Think, not What to Think.”Fundamentals, notFormulasEngage and CollaborateEmbrace DiversityChallenge EverythingThe ChicagoApproach
  13. 13.    Faculty WhoChange the WorldFor over a century, our world-class faculty havepioneered groundbreaking ideas and been lauded fortheir successes in nearly every business discipline.• Milton Friedman•  Free market economist• Eugene Fama•  Efficient market hypothesis• Gary Becker•  Coined the phrase ‘human capital’• Myron Scholes•  Black-Scholes model• Austan Goolsbee:•  Former Chief Economic Advisor, USA• Raghuram Rajan:•  Chief Economic Advisor, India• Richard Thaler•  Behavioural Economist, UK government
  14. 14. Learning OpportunitiesExecutive MBAADPCustomised Solutions
  15. 15. Globally Ranked and RecognisedBusinessWeekRanked # 1in 2012EconomistRanked # 1in 2012FTRanked # 5in 2013
  16. 16. Executive MBA ProgramPure Chicago• The world’s first (c 1943)• One degree. One world-class faculty.• Spans three continents• Accomplished classmates from all over the world.• Invigorating debate that produces groundbreakingideas and innovative solutions.
  17. 17. General ManagementTotal of 17 coursesplus electivesExecutive MBA Program at a GlanceELECTIVESGlobal New Venture ChallengeCapstone SimulationElective Courses**Students choose from a list ofcourses that can vary year to year.FOUNDATIONSStatisticsFinancial AccountingMicroeconomicsFUNCTIONSFINANCECorporate FinanceFinancial StrategyMARKETINGMarketing ManagementAdvanced MarketingOPERATIONSOperations ManagementCoMANAGEMENTDECISIONSManagerial AccountingManagerial Decision MakingNegotiationsPEOPLEEssentials of Effective LeadershipOrganizations and IncentivesStrategic LeadershipSTRATEGYmpetitive StrategyLEADLeadership Explorationand DevelopmentBUSINESSENVIRONMENTMacroeconomicsGlobal Strategy & Economics
  18. 18.    LeadershipCore Leadership Curriculum■  Essentials of Effective Leadership■  Strategic Leadership■  Decision Making and Negotiations■  Power and InfluenceCo-curricular: LEAD■  Professional development workshops■  Assessment tools■  Speaker series■  Business simulations■  Leadership presence training
  19. 19. Accelerated Development Program•  ADP provides maximum exposure for mid to senior executives to the latestmanagement thinking, taught in an intensive format by top Chicago Booth faculty, onour London campus.•  Financial Accounting & Analysis•  Strategic Business Leadership•  Competitive Strategy•  Strategic Marketing•  Executive Leadership•  Managerial Finance
  20. 20. Accelerated Development ProgramThree modules, each five days in length, taught across three months on our Londoncampus:•  Financial Accounting and Analysis•  Managerial Finance7-11 October 2013•  Executive Leadership•  Strategic Business Leadership4-8 November 2013•  Strategic Marketing•  Competitive Strategy9-13 December 2013LeadershipCoaching
  21. 21. 43Some of our Custom EducationPartners
  22. 22. ROI of Executive Education38•  Study found that participants in an executive education programwere:•  72% more likely to be promoted•  74% more likely to be retained•  ‘Active’ participants had 43% higher odds of promotion, twoyears after program completionTeaching Executives to See Social Capital, Ronald Burt and Don Ronchi, 2005
  23. 23. Management Education: A View fromChicagoThank you!38