Tomorrow’s MBA - Prospective MBA students set out their views on what they think of the MBA qualification, what they expect from the business school experience and what they want to study. Source: http://www.carringtoncrisp.com/tomorrows_mba

1. Executive Summary
Enter the Entrepreneur
Tomorrow’s MBA
Prospective MBA students
set out their views on what they
think of the MBA qualification,
what they expect from the
business school experience and
what they want to study.

2. carringtoncrisp
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Reproduction in whole or part prohibited without prior permission of the authors.
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in any form or by any means without prior permission of CarringtonCrisp, ABS and EFMD.
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Entrepreneurship is not new to the MBA, but for many years the focus
for many MBA students has been banking, finance and consulting. The
second Tomorrow’s MBA study suggests this focus is shifting and that
entrepreneurship may be the trend of the future.
The Tomorrow’s MBA study was first run in 2009/2010 to try and
understand if the economic recession, and the criticism that the MBA
received following the collapse of several banks, had an impact on More MBA schools
prospective MBA students. If anything the study suggested a should offer e-learning
strengthening of interest in the qualification, especially in Asia. MBA’s with an option
to specialise. On-line
Research for the second year of the study took place in streamed lectures and
November/December 2010. Potential respondents were contacted live workshops should
through social media, online advertising and banner adverts on a be included with
number of business school websites. Responses were received from interactivity playing a
476 prospective MBA students in 79 countries. major role.
In addition to a global report and executive summary, individual
business schools receive data across all questions broken down by
preferred delivery mode – full-time, part-time or distance learning, by
nationality of respondents and by those respondents interested in
studying at their school, providing powerful information for marketing
and operations. Schools also received a desk-based review of the
marketing of their MBA programme.
Figure 1. Content considered important for an MBA programme
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
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Enter the Entrepreneur
The interest in entrepreneurship is seen in many aspects of the
Tomorrow’s MBA study, but especially in valued course content and
what candidates seek from a business school and the MBA programme.
Offered 30 pieces of content typical of an MBA programme,
respondents said they most valued Strategic Management, Leadership
and Managing People and Organisations; the same three as last year’s
study. However, the new entrant to the top five is Entrepreneurship
which last year only featured in the top five of candidates from Africa
and North America.
Whether it’s in response to a changing job market where there are
fewer opportunities in banking and finance than prior to the economic
crisis or whether this is a longer term trend away from large
organisations is unclear. However, even among part-time MBAs
entrepreneurship is popular suggesting that the skills of enterprise are
valuable as much when setting up a business as they can be within
an existing business.
One conclusion that might be drawn is that an MBA is the wrong
qualification for someone looking for entrepreneurship. However,
those taking part in the survey continue to show great enthusiasm for
the qualification. Asked whether they had become more or less
For distance learning, schools positive about the MBA, less than 10% of the sample indicated that
should include class lectures on they had become more negative.
DVDs, provide students with
school email accounts, create a
The MBA in itself is a brand, and means something to most
forum for ongoing interaction employers. A student with a Masters in Business Entrepreneurship
between MBA candidates. In may have just as rigorous an academic experience at a highly
other words, make students prestigious business school, but it may be less clear to an employer
really feel like they are part of how that qualification compares with an MBA from the same school.
the university / college and their Only slightly more than 20% of respondents said they would consider
choosen program. studying a specialist Masters rather than an MBA.
Thinking differently
Further evidence about the rise of entrepreneurship can be seen when
respondents to the survey are asked what they want from a business
school and MBA. While around 60% say that they want an MBA that will
improve their career prospects, the second and third choices are that
will provide me with new skills and that will challenge me to think
differently. An MBA that will improve my earning potential is only the
fifth most important factor, chosen by just over a third of all respondents.
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Although career remains important, earnings have dropped back in
recent studies carried out by CarringtonCrisp, a result confirmed by
this year’s Tomorrow’s MBA study. Driven by the labour market and a
narrowing of the salary increases recorded by MBAs from different
schools, candidates are seeking a wider return on the investment
they make in their MBA.
A wider mix of skills plays to the potential entrepreneur who may MBA courses should be
more industry oriented
need to be able to manage a range of tasks to drive success in their
and focused on field
business. Similarly, with flatter corporate structures, those still working
work, rather than making
when doing their MBA recognise that a move sideways in to a different
students bookish.
type of project may be the best way to move up in an organisation in
the medium term.
Responsible or ethical?
Another feature of the first Tomorrow’s MBA study was an apparent
lack of interest among candidates in Ethics and Corporate Social
Responsibility in the MBA curriculum. Offered 30 pieces of potential
MBA content and asked which they valued most, respondents to the
most recent study placed Ethics and Corporate Social Responsibility
among the five least valuable.
Figure 2. Factors considered important when selecting an MBA programme
that has programme content informed by close links with business and industry
that has t d t ith
th t h students with a wide mix of experience
id i f i
with small class sizes
that includes t
th t i l d a strong f
focus on corporate social responsibility/ethics i b i
t i l ibilit / thi in business
with work experience opportunities
with international study options
with flexible study options (e.g part time, evening, distance learning)
that offers good value for money
that has a good range of modules available for study
that will provide me with new skills
that will improve my earning potential
that will improve my career prospects
that will challenge me to think differently
that combines academic theory with real world application
that has content I can tailor to my needs
that includes a specialist subject as an option
that has strong practical content
0% 10% 20% 30% 40% 50% 60% 70%
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However, dismissing ethics and CSR as irrelevant for MBAs would be
a mistake. Further qualitative research with current MBAs and MBA
candidates suggests that ethics and CSR are only rejected when
presented as stand alone modules. Instead, just as candidates expect
internationalism to run through all of their studies, they also expect
ethics and CSR to be ever present. While few jobs are advertised at
business schools for ethicists, responsible management is often highly
desired by employers.
Changing and staying the same
The changing nature of the MBA market can also be seen in other
parts of the MBA marketplace. The percentage seeking full-time
programmes is down slightly on last year, while those wanting the
flexibility of part-time study has grown by a small amount. Only in
Best insight about MBA
North America do more than 50% of the sample indicate that they
programs came from meeting
want a traditional 2 year MBA programme. Across the sample, more
friends of friends via Facebook,
respondents want blended learning rather than traditional academic
connecting with MBA grads on
terms and office hours.
Twitter and visiting schools and
going out with MBA students.
Figure 3. Websites used by respondents when deciding where to study
Other
PagalGuy
ChaseDream
BusinessBecause
LinkedIn
bestbizschools.com
gradschools.com
mbaprograms.org
MBA.com
accessmba.com
Yahoo
Google
worldclassmba.com
topmba.com
BusinessWeek.com
Masterstudies.com
Economist.com
MBAworld.com
MBAworld com
Facebook
FT.com
YouTube
University/business school website
0% 10% 20% 30% 40% 50% 60% 70%
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Figure 4. Factors affecting your view of the MBA qualification
Other
Media coverage of the global crisis
Working with MBA graduates
Visiting business schools
Meeting MBA alumni
Blogs about and by MBA students and graduates
General media coverage of business schools
Marketing by business schools
Media coverage about the role of bankers with MBA degrees
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Not at all A little Some A lot A great deal Not applicable
Figure 5. Importance of rankings in decision making split by national group
Not known
Other Asia
MEast
Pakistan
India
Not important at all
Not very important
Oceania
Neither important nor
unimportant
i
NAmerica Important
SCAmerica
Africa
WEurope
EEurope
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
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However, when it comes to finding out about MBA programmes,
tradition still has a role to play. Media titles such as the Financial
Times, Business Week and The Economist still play an important part
in helping candidates find out about business schools. Although
Google and the university/business school website are chosen as the
most important tools when seeking information about what and
where to study.
Social networks are growing in significance and not just facebook and
LinedIn, but services such as Orkut and Xianoei which are strong in
particular markets. Blogs are growing in importance, especially in
North America and India. Twitter is unused by 80% of the respondents
and although iTunes is slightly more popular it too is unused by
almost two-thirds of the sample.
Despite the role of electronic media, when asked what had the greatest
impact on their perception of the MBA, the answer was overwhelmingly
people, either when visiting business schools, meeting MBA alumni or
working with MBA graduates. Information gathering may be dominated
by electronic media, but decision making still tends to only take place
after a conversation with an alumnus or school staff member.
Too often the well The other highly significant factor in choosing where to study are the
produced brochures do rankings with 69% of respondents describing them as important or
not match the reality. very important; 61% ascribe the same value to accreditation.
Some staff have very poor
Business schools can also take some comfort from the survey results
customer focused skills.
in that a large majority of the sample prioritise choosing a business
school with a strong academic reputation. Rather than look to a
private provider of management skills, candidates prefer an academic
institution, knowing that a potential future employer will recognise the
business school over the private provider.
What flavour MBA do you want?
The MBA market is changing, of that there is little doubt. However,
there is uncertainty about what it will look like in the future. The MBA
itself remains a popular qualification, but there are likely to be many
different flavours of MBA – the full-time, the part-time, the hybrid;
delivered in the classroom, at a distance or blended; over one year,
two years, three or even more; and with a focus on finance,
entrepreneurship, leadership, people and strategy.
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The MBA brand, in the simplest sense, is strong among both
candidates and employers, especially in Asia and increasingly in Africa.
However, there is plenty of room in the market place for schools to
differentiate their particular offer and for candidates to choose exactly
what they want from the qualification.
International competition is intensifying in the MBA
marketplace at the same time as questions have been posed
about the future of the qualification.
• What do future students want from an MBA?
• What do they expect from a business school?
• What content do they want in their programmes?
• What relationship do they expect beyond business school?
The Tomorrow’s MBA study answers all these questions and
many more, providing a business school with key information
to help them enhance their MBA offer, attracting more,
quality students.
To take part in the next Tomorrow’s MBA study in October 2011
and find out what prospective MBA students expect from your
business school, contact us at info@carringtoncrisp.com or
complete the booking form on the next page. Reports will be
available for participating schools in January 2012.
For schools booking before 31 July 2011, get a
£500 discount on the usual price of £3500.
All prices are exclusive of VAT which, where required, will be
added at the applicable rate.
Participating schools receive:
• a market-wide report on the views of prospective MBAs,
• Powerpoint files of charts with analysis as a total sample and
broken down by delivery preference (full-time, part-time and
distance learning) and by national group,
• a personalised report on the strengths and weaknesses of the
MBA offer at their business school; and
• an on-campus presentation of the survey results.
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We would like to take part in the next round of the Tomorrow’s MBA study.
Name and address of Business School:
Contact: Title:
Telephone Number:
Email Address:
Please accept this completed application form and a cheque or send me
an invoice for the amount shown below.
Find out more about CarringtonCrisp, our other
group research studies, creative and marketing
services and consultancy for business schools by
visiting www.carringtoncrisp.com
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We would like to thank the following organisations
for their help in promoting this study:
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12. European Foundation for
Management Development
rue Gachard 88 box 3 B-1050
Brussels, Belgium
Telephone: + 32 (0)2 629 0810
Email: info@efmd.org
Website: www.efmd.org
The Association of Business Schools
137 Euston Road,
London NW1 2AA, United Kingdom
Telephone: 020 7388 0007
Email: abs@the-abs.org.uk
Website: www.the-abs.org.uk
CarringtonCrisp
34 Ladbroke Square
London W11 3NB, United Kingdom
Telephone: +44 (0) 20 7229 7373
Email: info@carringtoncrisp.com
Website: www.carringtoncrisp.com