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MBA curriculums nationwide are making some changes, many say due to the recent ’08 economic crisis in an attempt to focus more on business ethics and areas that MBA programs have previously neglected.

According to a recent article from Bloomberg Businessweek, written by Francesca Di Meglio, Haas School of Business at UC-Berkeley is among these schools to make such notable changes, which Dean Richard Lyons hopes will ultimately cause a “revolution” by producing what he terms as “path-bending leaders.” 

The biggest change to Haas’ program is the new emphasis in analytical thinking, flexibility and creativity.  Additionally, two primary courses have been restructured: “Leadership & Communication” and “Leading People.”  Also, a new one-unit course has been added called “Problem Finding and Problem Solving.”  Workshops and coaching sessions on leadership skills are also now included in the new Haas curriculum.

Why the new changes?  Lyons and the Haas community created these changes from a very personal standpoint.  Lyons is quoted with saying: “Society faces a host of [issues] – be it in health care, energy, materials use, demographic implications, safe water, etc.  If paths continue in a straight line, they will hit a wall in our kids’ lifetime, if not our own.” 

Other schools have also been seeing somewhat of a dramatic course overhaul – some of which include Yale School of Management, Stanford Graduate School of Business and the Ross School of Business. 

According to an article by Greg Bordonaro from HartfordBusiness.com, the University of Connecticut School of Business is trying to create a more student-centric curriculum that gives students a larger say in their overall academic plan.  In the long run, the school eventually plans to cut its traditional concentrations, such as finance, marketing, information technology and real estate to allow students to make for themselves a more individual plan of study within those majors or disciplines.

UConn hopes its business school will climb into the top 20 rankings of MBA programs in Forbes Magazine, as it currently remains 27^th. 

John Fernandes, president and CEO of The Association to Advance Collegiate Schools of Business, insists that allowing students more ability to choose their curriculum is a must.  According to HartfordBusiness.com, Fernandes also claims B-Schools are attempting to churn out more well-rounded students, who have an ethical compass to guide them in future business decisions.  He says, “It’s not enough to just make money anymore.  You must also be a good citizen.  Many MBA programs are focusing their curriculum on building individuals with enhanced ethical capacity and a stronger commitment to society.” 

Many students at Hass felt like the changes in the program were a long time coming.  Other business schools, such as Yale, implemented a change in curriculum as early as 2006 with interdisciplinary courses around particular organizations or customers and investors.  Stanford began a new curriculum that was focused around customization and flexibility, allowing students to tailor their coursework to their previous education, work experience and future ambitions.

While some critics may question the usefulness of an MBA in today’s society, these curriculum changes seem to be the answer to that question.  Businessweek quotes David Garvin, a professor at Harvard by saying, “We talked to many deans and executives and they all say that there’s a greater need for self-awareness on the part of MBAs.” 

Looks like these changes are here to stay.

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There seems to be an interesting trend happening amongst undergraduate liberal arts programs all across the country.  While it seems a course in finance or general business was hardly what undergrads were looking for, there is now a higher demand for such courses.

Business Week’s reporter Adam Fusfeld claims: “For liberal arts students, a little bit of business knowhow is a powerful thing, giving them the confidence they need to work in a business setting.”  For students vying for full-time jobs after graduation, schools don’t want them to appear at a disadvantage.  Hence, courses like Introduction to Accounting, Business Management, Human Resources Management and Business Communications are becoming options for Philosophy, English and History majors.  Why the sudden interest in business courses?  Could it be the recent ongoing economic recession?

Some schools, like Northwestern, which terminated its undergraduate business program 41 years ago, are offering certificate programs for students who have fulfilled a certain number of credits with a B-average GPA.  Such types of certificates appear to appeal to students, as it’s something they can add to their resumes when applying for internships and full-time employment. Since the start of the economic downturn in 2008, there has been an increased interest in such business certificate-like undergraduate business programs all over the country.

While the United States still holds a firm stance on the importance of a broad liberal arts education during one’s undergraduate years, perhaps a basic understanding of finance and business would be advantageous to all students, no matter what their eventual focus may be.  While the recession has certainly caused some negative effects on the workplace, perhaps this is an unusual advantage for all undergraduate-bound students in the future.

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Weeks after unveiling its first series of GMAT instructional videos on YouTube, Manhattan Review is rolling out a second series on MBA Admissions advice for business school applicants. The videos feature short lectures on how to set application goals to meet deadlines, how to prepare for interviews, and how to strategize effective recommendation letters. The videos are designed to be short enough for the viewer to catch a quick overview, while still being long enough to fully convey the basic concepts that all MBA applicants need.

The videos feature members of Manhattan Review’s MBA Admissions Consulting team. Each lecture focuses on a different aspect of MBA Admissions that stems from the consultant’s expertise. The videos educate YouTube viewers, while also giving them a chance to experience the content and substance of Manhattan Review MBA Admissions Consulting Services.

Manhattan Review offers a variety of admissions consulting services, from comprehensive elite school packages focusing on a single school to those addressing admissions for up to five different MBA programs. Also available are hourly admissions packages, as well as packages specific to essay/resume writing and interview preparation. “By viewing these free MBA Admission videos,” said Tracy Yun, CEO, “applicant can get an overview of the basics of MBA Admissions and get a sampling of our more in-depth consulting services.”

As the number of applicants to MBA programs has grown over recent years, more MBA hopefuls have turned to admissions consulting services in order to gain an edge. And with the recession affecting people’s budgets, applicants need to be sure of the quality of the admission consultation that they purchase. The new series of YouTube videos from Manhattan Review demonstrates the quality of its service for students in need of consultation on their MBA applications.

Listed below are some initial videos that comprise Manhattan Review’s ongoing MBA Admissions Advice Video Series.

• Business School Application – Tips on Essay-Writing
• Business School Application – Tips on Recommendation Letters
• Business School Application – Tips on Resume Preparation
• Business School Application – Tips on Interview Preparation & Explaining Candidacy
• Tips on Overall Strategy & School Choice
• Tips on Optimal Number of Schools to Apply For & Time Management
• Why Use An MBA Admissions Consultant

Email admissions@manhattanreview.com to ask about the MBA Candidacy Evaluation.

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There appears to be a drop in interest from overseas applicants to U.S. MBA programs, according to Kumar Anand of the Economic Times in an article titled: “Number of Applicants for Executive Management in Indian B-Schools Rises.”

Anand cites the example of Jorawar Singh, an Indian young professional seeking an MBA degree inside India and not the likes of Boston and Ohio B-Scools.  This is unusual for many Indian MBA applicants, as well as applicants from other countries, too, as U.S. schools are typically the most sought after in terms of admission.  Anand writes: “In all, 42% of the full-time MBA programs in the U.S. reported a decline in the number of foreign applicants.  Of these, as many as 70% reported the largest decrease in number of applications from India.”

Jorawar Singh, the young professional Anand cites, feels a one-year B-School in India will help him get a job after graduation in India, as opposed to going overseas and then returning to look for work.  Singh contributes, by saying: “Today, quite a few Indian B-Schools are offering quality executive management program at much cheaper cost.”  Anand adds to this, saying that a number of Indian MBA applicants favor Indian B-Schools over U.S. B-Schools because the quality of education is much higher in India than is used to be, not to mention the cheaper cost.

Dave Wilson, president and CEO of GMAC (Graduate Management Admission Council) claims:

“More Indians prefer Indian B-Schools over B-Schools in the U.S.  Of late, India has been offering world-class management education.  Less expensive quality education provided by Indian B-Schools remains a big draw for Indian students.   People are interested in pursuing MBAs from the geography where they could continue working, and India has emerged as a preferred destination for many.”

Curious to know the facts supporting these statements?  Anand claims that a total of 17,488 applications were submitted to Indian B-Schools in 2008.  That number is five times higher than seen in 2004, according to the GMAC.  At the moment, 24 Indian B-Schools accept GMAT scores for 53 programs.

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Recently Manhattan Review has had a number of raffle drawings in Germany. We are pleased to announce three of our recent raffle winners: Cordelia Neumetzger, Christian Mankiewitz, and Lena Haubold!

Cordelia Neumetzger entered our raffle at our MBA Gate event in Frankfurt. Christian Mankiewitz and Lena Haubold entered our raffle at the QS World MBA tour in Berlin and Munich. All three won a free in-person GMAT course! Included in the prize are the following benefits included in our course tuition:

• Better Score Guarantee – Unlimited Classes, Online Library & Advice
• Turbocharge Your GMAT Math/Verbal Study and Solutions Guides
• Extensive Quant and Vocabulary Glossaries
• Three on-line challenging Computer Adaptive Tests
• After-class Home Study Guideline provided
• Discount for Private Tutoring & MBA Admissions Services
• Discounted Access to Online Recording Library for tailored study
• US$200 Student Referral; US$1000 Corporate Account Referral (applicable only for paying students)
• Double Your In-Person Class Hours with an Online Course at No Additional Cost (up to 56 Hours of Total Real-time Instruction Hours)

Thanks to everyone who entered our drawings!

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