Popular Stanford GSB Course on Female Entrepreneurship Offers Lessons for All

The men who take a Stanford Graduate School of Business course on female entrepreneurship do so for the eye-opening exposure to some of the down-and-dirty aspects of starting your own business. Learning about the strategic …

The men who take a Stanford Graduate School of Business course on female entrepreneurship do so for the eye-opening exposure to some of the down-and-dirty aspects of starting your own business. Learning about the strategic and business challenges of entrepreneurship is great, but what about the expectations and emotions of starting a business? How does starting a company impact your personal life? What are you willing to give up to get your business off the ground?

While women are still the majority participants in the “Entrepreneurship from the Perspective of Women” course taught by Professor Fern Mandelbaum, that may change as word continues to spread of the “people issues” covered in the course, a recent profile piece in Fast Company reveals.

The idea for the course came ten years ago, when Professor Garth Saloner, currently dean of the Stanford GSB, created a two-week seminar on female entrepreneurship with the simple goal of exposing business students to a multitude of entrepreneurship examples. As of 2015, the class will be offered as a full, quarter course.

Three male students interviewed in the article say they signed up for the course because they wanted to better understand the real-life challenges and decisions that entrepreneurs have to make.

“In a lot of the other classes, you hear the stories of winners … not to say that you didn’t hear it in this class, but the tone of it was more about the trade-offs that you have to make along the way,” says former student Andrew Yaffe. “We had both male and female speakers in the class addressing topics in term of how often they were able to see their children, when they started their company, what was the initial pay they took. I found the male and female perspectives valuable.”

The course name may dissuade male students who assume it’s a class for women, but Professor Mandelbaum hopes that will soon change because the topics are important for future business leaders of either gender in order to create inclusive work environments.

Men may not think business school is the place to learn some of the personal aspects covered in the class, but, says past participant Johnson Ci Yu Fung, “What better way to generate innovation than to see it from a perspective that the other half of the population experiences?”

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B-School Alumni Report Boost to Earning Power, Career Trajectory

Business school alumni earn increased compensation, exercise enhanced purchasing power, consistently climb to the executive ranks, and give overall high marks to the value of their education in driving their professional success, according to new …

Business school alumni earn increased compensation, exercise enhanced purchasing power, consistently climb to the executive ranks, and give overall high marks to the value of their education in driving their professional success, according to new research findings from more than 12,000 graduate business school alumni surveyed by the Graduate Management Admission Council (GMAC).

The results of the 2015 Alumni Perspectives Survey Report offer a global snapshot of employment and career progression for graduate business school alumni representing the classes of 1959 through 2014. Graduates also gave positive reviews to their business school’s alumni association, with a majority saying their engagement with these associations has contributed to their success.

Conducted in October and November of 2014, the survey represents alumni from more than 230 graduate business programs at 71 universities in 16 locations across the globe. It is the latest in GMAC’s survey report series to provide data showing that an MBA or other graduate management degree, such as a Master in Management, Accounting or Finance, is a strong educational investment available to students in today’s highly competitive career marketplace.

In fact, in the survey, 95 percent of alumni rated their graduate management education as a good to outstanding value, and 93 percent would recommend their graduate business program to others.

Additional key findings include:

Ninety percent of alumni credit graduate management education with increasing their earning power.

In both developed and developing economies, graduate management alumni exercise enhanced purchasing power. For the first time, GMAC offers a comparison of earnings for graduate management alumni relative to others. A global analysis of alumni salaries by work location in relation to GDP and purchasing-power-parity per capita (GDP PPP) uncovers that business school alumni have purchasing power 1.6 to 6.8 times that of the average resident of the country where they work.

2015_GMATBLOG_purchasingPOWER_680wBusiness school alumni career trajectories show consistency in reaching higher levels of their organizations regardless of graduation year.The majority of alumni held mid-level positions one year after earning their degree.

Five years after graduation, the majority of business school alumni are in senior-level positions or higher, and at 10 years, one in four alumni are in executive-level positions and 5 percent are in the “c-suite” (e.g., CEO, CFO, COO). Graduates who have made it to the c-suite are most likely of all alumni to say they use the knowledge, skills and abilities learned in graduate business school on the job.

GMAC Alumni Earnings 2015

B-school alumni rise fast in the workplace and have high levels of job satisfaction.
The majority of graduate business school alumni, working across all occupational levels from entry-level positions to c-suite, credit their graduate management education for preparing them for leadership positions, as well as for accelerating the pace of their career advancement. In addition, they report high levels of job satisfaction.

Four in five alumni, or 84 percent, say their graduate management education offered opportunities for quicker career advancement.

For the first-time, this report measured entrepreneurial behavior in the workplace — defined through the traits of innovativeness, proactiveness and social risk taking — factors associated with alumni career success. Analysis shows c-suite and self-employed alumni describe themselves with these attributes to a greater extent than alumni at all other job levels.

Fifty-nine percent of alumni belong to their business school’s alumni association and tend to rate their level of career success higher than those who are not members.
The additional services alumni seek from their alma mater include courses and seminars, access to career services and more networking events.

“Graduate management degree-holders consistently tell GMAC their education is a solid investment and a spur to personal, professional and financial achievement, even in up-and-down economies,” says Sangeet Chowfla, president and CEO of GMAC. “A graduate management education isn’t just a degree, it’s a career catalyst.”

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Economist Ranks B-Schools’ Alumni

The single most important thing about business school–besides the educational aspect, of course–is the network you cultivate that will likely shape and propel the rest of your career. The Economist recently revealed its annual alumni …

The single most important thing about business school–besides the educational aspect, of course–is the network you cultivate that will likely shape and propel the rest of your career.

The Economist recently revealed its annual alumni ranking of business schools, based on the usefulness of their alumni networks, and a quote from an INSEAD alumna that the magazine leads off with perfectly encapsulates this effect: her door was always open, but fellow graduates  might find the door “slightly more ajar than others.”

So, where can you find the tightest alumni relationships? For starters, the answer is overwhelming in the United States. Let’s take a look:

Top Ten Business Schools for Strength/Usefulness of Alumni Network

  1. Dartmouth’s Tuck School of Business
  2. Stanford Graduate School of Business
  3. Notre Dame’s Mendoza College of Business
  4. UVA Darden School of Business
  5. Michigan Ross School of Business
  6. USC Marshall School of Business
  7. Cornell’s Johnson School of Management
  8. UNC Kenan-Flagler Business School
  9. Harvard Business School
  10. IMD–International Institute for Management Development

It’s interesting to note that this ranking doesn’t necessarily correlate to a school’s overall ranking. Third-place Mendoza, for example, ranks 45th in The Economist‘s  top 100, while sixth-place USC Marshall ranks 64th overall.

Business schools work hard to maintain relationships with alumni years after graduation, and those efforts are very often rewarded spectacularly with donations that make headlines around the globe. When David Booth gifted $300 million to the University of  Chicago Graduate School of Business in 2008, its name changed almost overnight to the Chicago Booth School of Business.

A $100 million donation made by Henry Kravis to Columbia Business School in 2010 resulted in one of the new Manhattanville campus’s buildings being named The Henry R. Kravis Building in recognition of his generosity. And the list of multi-million-dollar endowments goes on and on.

As you finalize your school selections, give some serious thought to the strength of the alumni network. This list serves as a great reminder that your MBA education doesn’t end at graduation. It’s a lifetime investment.

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Harvard Business School Expands HBX Program Eligibility

Harvard Business School announced this week it will open its online learning platform HBX to students worldwide after two successful trial runs over the past year. Business school website Poets & Quants notes that the …

Harvard Business School announced this week it will open its online learning platform HBX to students worldwide after two successful trial runs over the past year. Business school website Poets & Quants notes that the program will also be available to students admitted to the full-time MBA program in fall 2015.

The HBX CORe program is an online learning initiative that provides a primer on the fundamentals of business with a suite of three integrated courses: Business Analytics, Economics for Managers, and Financial Accounting.

HBX expands to global audience

Bharat N. Anand, Henry R. Byers Professor of Business Administration

Taught by a team of HBS faculty members, the program is designed specifically for rising college sophomores, juniors, and seniors; current and prospective graduates; and those in the first ten years of their careers. Bharat N. Anand, faculty chair of HBX, tells P&Q he expects about 20% of the next incoming class at HBS to take CORe this year to get up to speed on accounting and data and become ready to take advantage of the full campus experience.

“The bulk of the learning experience will now happen through CORe which was designed with these students in mind,” Anand adds. “The genesis of CORe was asking how can we create a wow experience online so they can get up to speed with the basics of data, accounting and economics before they come on campus. we are now closing the loop and giving admitted students the option of taking it in February, April or June.”

Applications are now being accepted for cohorts beginning on April 15 and June 3. The CORe online application process takes less than 30 minutes, and admission is based on individual applications that highlight aptitude and motivation.

The fee for the April cohort is $1,500, while the cost of the June and subsequent cohorts will be $1,800. Need-based financial aid may be available to U.S. citizens currently enrolled in an undergraduate degree program.

Applicants should provide insight as to why they want to participate in the program and what they plan to contribute to the rigorous learning community of which they will be a part. There are no geographic restrictions in the selection process; applicants from around the world are invited to apply, and there are no residency requirements for the entirely online program.

Since applications will be reviewed in the order in which they are received, applying early may improve the likelihood of being admitted.

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MOOCs and the Future of Management Education

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Wharton School Offers Business Foundations Specialization

The Wharton School of the University of Pennsylvania will offer a Business Foundations Specialization series through Coursera, combining the school’s four-course Foundation Series with a Capstone Project that allows participants to apply their knowledge to …

The Wharton School of the University of Pennsylvania will offer a Business Foundations Specialization series through Coursera, combining the school’s four-course Foundation Series with a Capstone Project that allows participants to apply their knowledge to real-world business problems.

The Business Foundations Specialization, taught by Wharton faculty, provides a Coursera Verified Certificate for participants who complete the Foundation Series courses – Accounting, Finance, Marketing and Operations Management – as well as the Capstone Project.

The Capstone Project allows participants to complete a project with industry partners to help solve a specific real-world problem. Wharton has initial partner agreements with Snapdeal and Shazam to provide Capstone project topics.

“The Business Foundations Specialization continues our outreach to students around the world, especially those who want to sample the power of Wharton knowledge,” says Geoff Garrett, Dean of the Wharton School. “We are especially excited about the unique industry partnerships we can offer through the Capstone Project, allowing participants a glimpse into the real challenges businesses face.”

Kunal Bahl, CEO and co-founder of Snapdeal.com, says his time as a Wharton student had a profound impact on his career path and outlook on life. When commenting on the new partnership through Coursera, Bahl says, “This is the power of applied knowledge and it gives me immense pleasure to now be in a position to co-create life-changing learning opportunities for a global pool of highly motivated learners in the domain of business foundations.”

Wharton will invite the top 50 performers each year to apply to one of the school’s graduate business programs, and waive the application fee. It will also offer up to five $20,000 scholarships to students admitted to its MBA program who have excelled in completion of the Specialization in the previous twelve months.

“A key component for us as an institution is the possibility to identify talent from a pool of participants who might not have considered business education before,” says Dean Garrett.

The Wharton Business Foundations Specialization begins this spring with An Introduction to Marketing on April 6, led by Professors Barbara Kahn, David Bell and Peter Fader.

All courses in a Specialization series must be taken through the Coursera Verified Certificate path to be considered completed.  The cost of the four courses and the Capstone Project with a Verified Certificate is $595.

Additional details regarding course format and curricula of the Wharton Business Foundation Specialization, and all other Wharton online opportunities, can be found at http://online.wharton.upenn.edu.

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