The Enduring Value of the MBA

1
The Enduring Value of the MBA

• Dipak C. Jain
• Kellogg School of Management
• Northwestern University

2
Mission of Management Schools

• Knowledge Creation
• Knowledge Dissemination
• Knowledge Certification

3
Evolution of Global Business

• Time

• 20th Century
• Capital formation Competition Capitalism
• US, Europe, Japan

• 21st Century
• Human Capital Development Capabilities/
  Competencies
• Rise of Asia (China India)

• Up to the 19th Century
• Land Acquisition Colonization
• UK, Spain, Portugal, France

• Focus

Key Players
4
Evolution of Management Education
Time Period
Pedagogical Tools Used
Decision Making Driven By
Focus On
Late 1960s to the late 1990s
Theoretical Frameworks driven by Academic Research
Data Analytics
Academic Rigor
Up to the mid 1960s
Case Studies
Judgment Intuition
Business Relevance
2000-2008
Analytical Frameworks Experiential Global Learning
Business Insights Corporate Ethics
Academic Rigor Business Relevance
2009 and beyond
Analytical Frameworks Experiential Global Learning Renewed Risk Management Models
Business Insights Ethics Global Challenges
Academic Rigor Business Relevance
5
Management SchoolsMove Beyond Conventional
Boundaries of Thinking

1. Beyond Business
2. Beyond Success
3. Beyond US Centric Curriculum

• Business Society
• Success Significance
• Developed Emerging Markets

6
Stakeholders of Management Schools
Key Issues

• Students
• Earning vs. Learning
• Faculty
• Research vs. Teaching
• Alumni
• Engagement vs. Involvement
• Corporate Partners (Recruiters )
• Rigor vs. Relevance
• Media
• Ranking vs. Reputation

7
Key Challenges

• Increasing Competition and Complexity
• Faculty Attraction, Development, and Retention
• Managing Student Expectations
• Alumni Involvement and Engagement
• Building a Culture of Philanthropy

8
Summary
The future of competition is collaboration
- Dipak C. Jain