University of Chicago's Booth EMBA Program was ranked #1 in 2011

With the economy in stasis, an increasing number of professionals looking to return to school to get advanced business degrees are unwilling to give up their current positions when finding a new job after their graduation is no longer assured. Executive MBA programs, offer an excellent alternative to traditional full time MBA educations- where they would be expected to leave their current roles, and then hope that they will be able to find better positions after completing their post graduate education.

Part time programs take about 1-2  additional years to complete versus full-time two year MBA’s. Many believe that the job security they are afforded and ability continue earning an income during the degree, is well worth it.

The diversity of programs offered for EMBA students is growing as well, since an increasing number of applicants for EMBA programs are no longer having their education paid for by their employers. Now they are free to make the decision of where to attend themselves. This means finding new and innovative ways to attract students, like increased offerings of electives in growth areas like entrepreneurship and leadership workshops.

Business Week ranked the best EMBA programs of 2011:

EMBA programs will no doubt continue to gain in popularity as more and more working professionals will be expected to have advanced post graduate degrees to remain competitive in their chosen career fields.

http://images.businessweek.com/slideshows/20111108/top-part-time-mba-programs-of-2011/

Nohira earned a bachelor’s degree in chemical engineering at the Indian Institute of Technology in Bombay and received his Ph.D. in management from the Massachusetts Institute of Technology in 1988.  Part of his appeal is his global perspective and experience, which he will certainly bring to the table as the school’s new Dean.

At a time where business schools are emphasizing a stricter ethics curriculum, Nohira was one of the first to recommend students take a professional oath of conduct in 1996 when he was teaching at the London Business School. 

John Lauerman quotes Nohira as stating: “Throughout history, there has been this notion of the honorable business person.  Business people have taken pride that they can do business on a handshake.  I don’t know where we lost that, and I don’t see why it isn’t recoverable.  I still think business can be done with honor.” 

In terms of the changes on the school’s curriculum, Nohira is looking to experiment with immersion programs and small learning teams, in addition to adding more instruction initiatives. 

Yale University has also chosen a new dean for its School of Management.  According to an article from the Wall Street Journal, Edward Snyder will be coming on as Dean of the school next July. 

Snyder was the former Dean at two notable schools – University of Virginia’s Darden School of Business and the University of Chicago’s Booth School of Business.  He is known for his fundraising capabilities, with soliciting $60 million from a single donor at Virginia and an astounding $300 million for the Booth School from financier David Booth.

At Yale, his challenges will be trying to attract higher caliber recruiters, in addition to raising money for an ambitious $150-million building project. Synder will also focus on catering to the nonprofit sector, as well as soft skills. 

In regards to raising money, The Wall Street Journal quotes Synder with: “There are not many alumni with deep pockets; I’d say there are very few.  But, on the other hand, a lot of Yale alums outside of the business school are very successful. “

In spring 2010, GMAC piloted the new section with current MBA students and plans to pilot it again with thousands of students this fall.

GMAC states: “The new section will replace one of the two writing sections currently on the exam.  It will be scored separately and have a new audio component for some questions.  The test’s current verbal and math sections will remain unchanged.”  The new changes in the exam are the following:

• Test takers will need to interpret charts, graphs, and spreadsheets, and answer interactive questions that will test their analytical skills.
• Test takers will be asked to analyze information, draw out conclusions and determine relationships between data points.
• Test takers will wear headphones while taking this portion of the test.  The use of headphones is a new feature that will help schools assess students’ auditory learning style.
• Rather than just multiple-choice questions, test takers will drag-and-drop data points, as well, as write mini-essays.

GMAC has released a sample question similar to questions that will appear on the new test. Students are asked to look at a table that sorts like a spreadsheet and detail the number of passengers and airline movements at 21 airports around the world. They are then presented with a list of statements about the information in the table and asked to determine which of the statements are true based on the data in the spreadsheet. Other exercises include using the same table to evaluate the reason for or likelihood of certain outcomes, or to use the table to determine where other airports rank.  Some other possible questions may be to determine a country’s plans for a road.  This would include looking at maps and government data.

Below is a sample question with the data tables and charts test takers will see in the new version of the GMAT. To view the data table and graph click on the link below!

Sample Question Data Table/Graph

1. Of the models with Gasoline Engine Type, the model with the greatest ratio of City MPG to Highway MPG is also the model with the greatest difference between Highway MPG and City MPG.


2. The minimum City MPG for a Toyota make is less than the maximum City MPG for a Volkswagen make.


3. A model chosen at random from those models with a Highway MPG greater than 30 miles per gallon has a 50% chance of being a Toyota.


4. The median carbon footprint for all models is greater than the mode carbon footprint for all models.


5. The standard deviation of the Highway MPG values for all BMW models is lower than the standard deviation of the Highway MPG values for all Toyota models.

Integrated Reasoning Answers: Statements 1 and 4 are FALSE; Statements 2, 3, and 5 are TRUE.

Why the new changes?  These changes are due to the evolving trends seen in business school classrooms.  This is a way to distinguish between those students who will adapt well in the classroom rather than just score a high score on the GMAT, making it easier for business schools to select who to be admitted. This new change is welcomed with great enthusiasm by business schools. GMAC created the section after b-school faculty members expressed a preference for proof that students could read, synthesize and reason well from a set of data within a limited amount of time without relevant in-depth knowledge and any memorization.

The addition of 30-minute Integrated Reasoning in replacement of one of the Analytical Writing Assessment sections is the biggest change to GMAT since it became a computer-adaptive test in the late 1990s. Other recent year changes occurred in 2006 after the switch over of the test administration from the ETS to Pearson. However those changes are more in rules and format, less in content.

Some students may fear that with this new section added to the GMAT, their score may not be as high than with the old exam.  Fear not.  GMAC is planning outreach and educational programs for business school faculty and students.  These programs will include information sessions and details on the new tests.

To get a better sense on the new integrated reasoning section click on the title below:

 Next Generation GMAT Question Demonstration

We at Manhattan Review wholeheartedly support such a constructive change on the GMAT and are prepared to incorporate the teaching of the new section into our curriculum. We strongly feel that without changing the existing verbal and math questions and one of the writing sections, the new Integrated Reasoning section will make the test much improved and effective while minimizing implementation costs. A win-win solution for all parties involved! However, this new section does seem to put more emphasis on extensive data analysis, which might be a challenge for students who are not used to seeing a large amount of data in a spreadsheet format. 

Dr. Meissner teaching at Columbia Business School

He draws on his years of experience as a tenured professor teaching in the MBA Program at Lancaster University Management School in the UK .

In particular, he recommends students to retake the test if a substantial score increase can be achieved and if they are looking to apply for competitive positions including those in investment banking or management consulting while their GMAT score is below 700 points.

You can find the full article titled “Why the GMAT still matters when you already are at B-School” on his academic website.

In particular, he discusses which characteristics a successful MBA student needs to have. He argues that good quantitative skills are essential for a manager, but alone are not enough. Social skills and teamwork are mandatory supplements for long-term success and have often been neglected in business school education. He proceeds then to discuss Lancaster University Management School’s leadership role in integrating these aspects into the current curriculum.

Dr. Meissner also mentions well-known academic Henry Mintzberg who is famous for his criticism of current MBA Programs. One of his arguments is that while case studies are in theory useful to get a feel for the daily life of a manager, they also undermine the importance of real-life work experience. The fact is that co-workers and subordinates aren’t just a set of data, but complex individuals who require more than analysis and strategies to be led effectively.

The founder of Manhattan Review already stressed the importance of a strong and impressive personality in addition to academic achievements in his previous FAZ Article from 2007. In his current article, he shows how this translates into the requirements for success in the business world. Quantitative skills are merely half the bet and social competence is a must for aspiring top managers.

An English translation, titled “It’s in the Mix: The Career Success Factors of MBA Graduates” is available in his blog.