The document outlines 10 steps that business schools must take to effectively prepare MBA learners for careers in business and management. These include: 1) ensuring program design aligns with goals, 2) explaining course rationales and relationships, 3) using a capstone course to combine knowledge, 4) developing goals-based course descriptions and syllabi, 5) implementing classroom strategies to achieve goals, 6) using appropriate evaluation tools, 7) preparing innovative faculty, 8) fostering a culture of continuous learning, 9) developing corporate partnerships, and 10) utilizing case studies, teamwork and simulations. The most effective tools for preparing MBAs are described as case studies, teamwork and business simulations.
4.
In the past few decades, business schools have realized that
traditional graduate degrees in business such as an M.A. in
business administration are not marketable because of their
program design. Therefore, most business schools around the
world are now focusing on the star of the business school’s
product portfolio, the MBA program. The goal of the MBA
program is to prepare learners for business and management.
This paper presents the ten steps that business school must
take to prepare the learner for business and management. The
paper is a triggered research paper, and the research
concludes that business schools must foster a culture of
continuous learning, and work with facilitators (faculty),
corporate partners, and accrediting agencies as a team to
prepare MBA learners for the world of business and
management
5. 1.
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10.
Understand the reason for the universal design of the program.
Clearly explain the rationale for each course included in the
program and how they relate to each other and to the learners.
Show learners how the knowledge gained from all the courses
will be combined to make management decisions in a capstone
course at the end of the program
Develop course descriptions and syllabuses that are based on
the goals of the program
Formulate and implement classroom strategies to achieve the
course goals.
use appropriate evaluation tools that will determine whether
there was an addition to the learners’ knowledge.
Prepare facilitators to be creative and innovative in sharing
knowledge with learners.
Build a culture of continuous learning at the school.
Develop corporate partnerships.
Use case studies, team work, and business simulations in all
the functional courses and the capstone course.
6.
MBA degree is a universal degree; it doesn't matter where the degree is offered, the
goals are the same, to prepare learners how to manage a business or to be part of a
management team
The goal of management is to maximize the wealth of the organization. To maximize
the wealth of the organization, the managers have to focus on the five basic functions
of the organization
Five Basic Functions of the Organization
The importance of five functions in the wealth maximization process
may be one of the reasons, that gradutebusiness programs, such
as MBA programs, around the world include at least one course on
each of the five functions of the organization.
7.
In the MBA program, courses besides marketing, finance, operations, human
resources, and information technology are needed to build a rational framework
for making management decisions in the five functional areas of the business.
The following exhibit shows the courses needed for building a rational framework
for management decisions.
Foundation for Making Rational Functional Decisions
8.
At the end of the program in the capstone course is essential. This will help the
learner to understand the importance of all the courses included in the MBA program,
and the learner may then use learning and retaining strategy rather than a program
strategy just to pass the course. A clear explanation of the relationships and inter
relationships between the courses will help the MBA learner to see the importance of
each course in the program and its contribution to creating value for the firm. The
following exhibit illustrates that the knowledge from all the functional areas is utilized
in the capstone course.
Combing Knowledge in the Capstone Course
9. A description of the course must be based on the present changes in the field of
business and not just on the minimum contents required by the accrediting agencies.
Every course syllabus must include an explanation on why the course should be part
of the MBA program, and how the course will improve the business and management
skills of learners. There should be a relationship between the course description and
the outcomes of the course.
10.
To achieve the goals of the course, the facilitator needs to develop effective
classroom strategies. These classroom strategies must include the 3C’sContents, Clarity, and Communications. The contents involve the textbooks, case
studies, simulations, videos, digital platforms, and lectures. In developing a
classroom strategy, facilitators must To achieve the goals of the course, the facilitator
needs to develop effective classroom strategies. These classroom strategies must
include the 3C’s- Contents, Clarity, and Communications. The contents involve
the textbooks, case studies, simulations, videos, digital platforms, and lectures. In
developing a classroom strategy, facilitators must
11. 6. use appropriate evaluation tools that will determine
whether there was an addition to the learners’
knowledge.
7. Prepare facilitators to be creative and innovative in
sharing knowledge with learners.
8. Build a culture of continuous learning at the school.
9. Develop corporate partnerships.
10. Use case studies, team work, and business
simulations in all the functional courses and the
capstone course.
12.
Evaluation and control are a challenging task for the facilitator in a digital
environment.
Traditional way of questioning are not Enough for the determination of learners
ability .
For the Evaluation the facilitators need to design some tools that determines
weather the ability of the Learner is increasing in the class or not. Is he capable of
Doing Executive Decisions ?
Facilitators constantly Monitor the Learners Ability , analyze the problems and Find
it’s solution.
To prepare the learner to be successful in business, facilitators have to use
evaluation tools such as case analysis, scenario analysis(alternatives world),
essays(written mistakes by others like criticism) ,peer evaluation(one by problem
solving), current business situation analysis, and simulations(model) to determine the
level , of comprehension of materials covered in the course and the ability of the
learner to apply the knowledge and skills gained in a given business situation.
13.
In older days there was the monopoly of Books if learner had any question or need any
clarification he used to follow text books referred by the subject teacher.
Now a days Learners gather more from External Sources rather then text books
These days million of snippets are available on just single click
In this era Reading test books, material on internet slides presentation by the Facilitators
are not enough.
Sometimes, textbooks become obsolete by the time they are published in certain areas of
business.
As the traditional professors have been changed as Facilitators. So, To be successful in
preparing an MBA learner to manage a business, the facilitator has to develop personal
communication (ground and online), an understanding of human behavior (face-to-face,
and virtual) for interacting with the learners in both real and virtual classroom.
Lastly, they must be able to adapt to a changing environment and creatively use
technology to share knowledge with the learners
14.
In every organization, there is a chance for the existence of sub culture, which
sometimes works as a driving force for the organizational culture or sometimes as a
distraction to the organizational culture. A distraction from a sub culture of the
organization to the organization's culture will limit the organization's ability to achieve
its goals.
A learning culture could be evolved in a business school by:
i.
Breaking the distance and divisions among the facilitators;
ii.
Defining and sharing the meaning of the business research; and,
iii.
Understanding the importance of team work in preparing MBA learners to mange a
business.
All facilitates must be join together as a team for MBA Learners Regardless their
position, they Should make a team for output continuous learning.
Business school should always focus on productive business research.
All facilitators should work in a Team so that they Fully satisfy the learners and
indirectly to organization
15.
A business school’s corporate partnership is similar to a partnership between a
supplier of raw materials and a corporation.
Business school are the supplier of Human capital to the Corporation.
They are the important in upper part(revenue, cost of production) and Lower Part
(overhead and period cost)
16.
As previously stated, the goal of an MBA is to prepare learners for business. The
best way to achieve this goal is to develop internship programs for MBA learners.
Learners should consider their Mba as full time Mba.
The limitation of internships is that the exposure and time span is limited. Other
practical alternatives for preparing MBA learners in business schools are the use of
case studies, teamwork, functional simulations in functional courses, and business
simulations in the capstone course.
The team also learns the important lesson that teamwork and group decisions are an
integral part of successful business and management.
In the last decade, thousands of universities all around the world have adopted
business simulations in their capstone course.
Business simulation provides an excellent opportunity for learners to understand how
to prepare a plan for the business, set goals, formulate a strategy, and implement the
strategy. In addition, they learn how competition and the external environment
influence the business.
17.
Business school exist to prepare MBAs.
They provide human capital to the organizations so, they should
provide according to market need i.e creative and innovative because
market always demand for exceptional no matter how much the worse
economy is…
Preparing MBA is a team work which involves facilitators business
schools, corporate partners, accrediting agencies, and the supplies of
contents.
ABOVE ALL: The most effective tools for preparing MBA learners for
business and management are case studies, teamwork, and business
simulations.
The MBA learners must be teach in a virtual manner of worst
conditions: NOT IN IDEAL ONE