MBA Best Practices

Business Schools
Best Practice

Sharif University of Technology
Dr. Fereidoun Ghasemzadeh School of Management and Economics

Contents

• Introduction
• Business School Definition and Programs
• Notable Business School Firsts
• Types of Business School and MBA Programs
• Business School Degrees and Accreditation
• Business Schools Admission, Program, and Alumni
• Business Schools in Europe
• MS program in Business Schools
• MS program in Management in Iran
• How to start MS at Sharif GSME

Prepared By: Dr. Fereidoun Ghasemzadeh

Introduction

• Subject: Introduction to top Business Schools best
practice

• Goal: Provide knowledge and insight for decision making
about strategic issues:
1. Starting MS program
- To promote research in the school
- To educate future faculty from among top graduates
2. Improving Full Time MBA Program
- By introducing MBA best practice
- By avoiding to reinvent the wheel
• 3. Starting PT MBA, EMBA, DMBA,
and Executive training

Introduction

• Some Facts :

– Sharif MBA program started in 1379
– First MBA after revolution
– The program started as “Executive Management”
– Currently %70 MBA entrants in Iran (100/Yr)
– 13 Full Time and 6 Part Time instructors
– Current enrollment is 298 (100/Yr)


Introduction

• Sharif GSME Faculty:

6 6

Full Time
Ph.D. Management
Part Time 13
13 Other

• None of FT or PT faculty members has MBA degree


Introduction

• Time spent in faculty council so far on this topic:
8(Yrs)*5(meetings/Yr)*2(hrs)*12(Ph.D.)=960 hrs

• By following Best Practice:
– Thousands of hours are spent in academic and
administrative activities that can be eliminated

– Effectiveness and Efficiency will be increased drastically

• Research Time: 200 hrs

• Presentation Time: 1 hour


Introduction…


Introduction…

• MBA Rankings: BW, US News, FT, Forbes, WSJ
• %60 of top 100 Business Schools are in US (FT-2008)
• Top 20 US Business Schools are selected (BW-2007)
• Statistics corrected when necessary
• References:
-Selected Schools web sites
-Business Week
-Financial Times
-Economist
-Wikipedia
-MCHE
-A real recent MBA admission case


University of Chicago GSB

Ranked #1 by BusinessWeek and The Economist


Harvard Business School

Ranked #1 by U.S. News & World Report


Tuck School of Business at Dartmouth College

Ranked #1 by Forbes and the Wall Street Journal


Columbia Business School

Ranked #1 in The Financial Times quot;ranking of rankingsquot;


Wharton School of the University of Pennsylvania

Ranked #1 by The Financial Times


MIT Sloan School of Management

Ranked #1 by The Wall Street Journal

Business School Definition

• A Business School is a university-level institution that confers
degrees in Business Administration.
• Other names:
SOM (School of Management),
SOB (School of Business),
GSM (Graduate School of Management),
GSB (Graduate School of Business)


Type of Ownership

35%

Private
65% Public


MBA Program

Part 1- Core Courses
Part 2- Electives:
• Information Systems
• Marketing
• Technology and OM
• Organizational Behavior
• Strategy
• HR Management
• Decision Science
• Accounting andControl
• Finance
• Economics and Political Science
• Etc.

MBA Programs with Project /Thesis

1

Yes

19 No

• None of top 20 US MBA programs contains Thesis


Contents

• Introduction
•

Notable Business School Firsts

1759 - The Aula do Comércio in Lisbon was the world's first institution to
specialise in the teaching of commerce.
1819 - The Ecole Supérieure de Commerce of Paris (now ESCP-EAP) is the
oldest business school
1881 - The Wharton School of the University of Pennsylvania was founded
as the first business school in a broader university
1898 - The College of Commerce at the University of
California, Berkeley, later renamed the Haas School of Business, was
founded as the first business school at a public university


Notable Business School Firsts…

1900 – Tuck was the first GSB, offering master's degree in business
administration, titled the quot;Master of Commercial Sciencequot;, the
forbearer of the modern MBA.
1910 - Harvard Business School was the first business school to offer a
degree called the quot;MBAquot;
1920 - The University of Chicago Graduate School of Business was the
first business school to offer PhD and EMBA
1950- The first MBA degrees were awarded outside the US by the
University of Western Ontario in Canada


Notable Business School Firsts…

1951- Followed in 1951 with the degree awarded across the
Atlantic by the University of Pretoria in South Africa.
1955 - The Institute of Business Administration, Karachi
established by the Wharton School of the University of
Pennsylvania as the first university in Asia to offer an MBA
program.
1957 - INSEAD, near Paris, France, became the first European
institution to offer an MBA program.
1973 - The École des Affaires de Paris (EAP) (now ESCP-EAP) was
the first business school with campuses in three countries


Contents

• Introduction


Business School Degrees

Associate's Degree: AA, AAB, ABA, AS,…
an academic degree awarded by community colleges, junior
colleges, business colleges and some bachelors degree-
granting colleges/universities upon completion of a course of
study usually lasting two years
Bachelor's Degrees:
BBA, BBus, BComm, BSBA, BAcc, BABA, BBS, and BSc,…
Master's Degrees: MBA, MA, MSc, MM, MAcc, …
Doctoral Degrees: Ph.D., DBA


MBA Accreditation

• Business schools or MBA programs may be accredited by
external bodies
• The Association to Advance Collegiate Schools of Business
(AACSB) accreditation is generally regarded as the standard
for MBA programs.
• The US also has six regional accreditation agencies
• All US top 20 MBA have AACSB accreditation


Types of Business School

1. Most of the university business schools are faculties, colleges
or departments within the university
2. In North America a business school is often understood to be a
university graduate school which offers an MBA
3. In North America “business school” also refers to a two-year
school that grants the Associate's degree in various business
subjects secretarial, accounting, bookkeeping,etc)
4. They are typically operated as businesses, rather than as
institutions of higher learning.


Two Approaches in Business Schools

• Some business schools center their teaching around the use of
Case Studies
• Case studies have been used in graduate and undergraduate
business education for nearly one hundred years
• Business schools often obtain case studies published by HBS
• Some schools use a skills-based approach that focuses on
quantitative methods, in particular
OR,MIS, statistics, modeling and simulation,
and decision science


Types of MBA Programs

1. Two year MBA programs normally take place over two
academic years (i.e. approximately 18 months of term time)
2. Accelerated MBA programs involve a higher course load and
less quot;down timequot; during the program and between semesters
3. Part-time MBA programs normally hold classes on weekday
evenings, after normal working hours. Part-time programs
normally last three years or more.


Types of MBA Programs…

4. Executive MBA (EMBA) programs developed to meet the
educational needs of managers and executives, allowing
students to earn an MBA or another business-related
graduate degree in two years or less while working full time.
5. Distance MBA programs hold classes off-campus in different
formats: postal mail or email, non-interactive broadcast
video, pre-recorded video, live teleconference or
videoconference, offline or online computer courses


Types of Programs

Full
20
Time

Ph.D 20

EMBA 11

Part
9
Time

1 Yr
3
MBA

DMBA 2

0 5 10 15 20 25


Full Time MBA Program Length

Min: Pennsylvania(Wharton);
18
Harvard

Avg 21

Max: Duke(Fuqua);North
22
Western(Kellogg)

Sharif(GSME) 36

0 10 20 30 40


EMBA Program Length (Max Allowed)

Min: UC Berkeley
19
(Haas)

Avg 22

Max: Pennsylvania
24
(Wharton)

0 5 10 15 20 25 30


Part Time MBA Program Length

30
Min
48

36 Avg
Avg
71 Allowed

57
Max
120

0 50 100 150


Part Time Program Length (Max Allowed)

Min: Carnegie
48
Mellon (Tepper)

Avg 71

Max: Michigan
120
(Ross)

0 50 100 150


Part Time Program Length (Avg)

Min: Chicago 30

Avg 36

Max: Michigan
57
(Ross)

0 10 20 30 40 50 60


75%
80%
85%
90%
95%
100%
105%
Carnegie Mellon
(Tepper)

UCLA 100%
97%
(Anderson)

University of
95%

Texas - Austin

University of
93%

Chicago

UC Berkeley
93%

(Haas)

Northwestern
Part Time MBA Completion Ratio

University
92%

(Kellogg)

NYU (Stern)
90%

University of
85%

Michigan (Ross)

Full Time MBA Admission

• Interview: 100%
• Admission once per year: 100%

College Senior Admission
10%
10%
No
NA
80%
Yes


College Senior Admission…

60% 50%
50%
40%
30%
20% 10% 7% 6%
10% 5% 3% 3% 3% 2% 2% 2% 2% 2% 2%
1% 1% 1% 0% 0%
0%


College Senior Admission…

Sharif
50%
(GSME)

Max 10%

Avg 3%

Min 0%

0% 10% 20% 30% 40% 50% 60%


Carnegie Mellon (Tepper) Admission Team


Yale Admission Interview


Yale Admission Interview…


Chicago GSB: Class Profile


Chicago GSB: Class Profile …


Wharton: Class Profile


Wharton: Class Profile…


Harvard: Class Profile…


Entrants Age (Avg)

Full
28
Time

Part
30
Time

EMBA 36

0 5 10 15 20 25 30 35 40

Entrants Experience (Avg)

Full
5
Time

Part
6
Time

EMBA 12

0 2 4 6 8 10 12 14


Rankings methodology

Measure Indicators Weighting (as percentage of
category)
A. Open new career opportunities (35%)
B. Personal development/educational experience (35%)
1. Faculty quality Ratio of faculty to studentsb 8.33
Percentage of faculty with PhD 8.33
(full–time only)
Faculty rating by students 8.33
2. Student quality Average GMAT score 12.50
Average length of work 12.50
experience

3. Student Diversity
4. Education Experience
C. Increase salary (20%)
D. Potential to Network (10%)


Yale School of Management-Internship Program

Admitting students directly from
college is unusual for an MBA
program

Yale SOM admits a select handful
of college seniors to a three-year
MBA program



Such students need extended work
experience to obtain the full value
of an MBA

Silver Scholars will participate in a
one-year internship after
completing the first year of the
core MBA program. They then
return to campus to complete their
MBA courses.



Silver Scholars are chosen for
their combination of intelligence,
common sense, and maturity

We look for future leaders in
business, government, and nonprofit
endeavors

.


Internship in other MBA Programs

Many top US Business Schools have summer
Internship program for their MBA students


TOP US Business Schools (BW-2007)

Total enroloment
EMBA enrolment

Ph.D. enrolment

Grad enrolment
DBA enrolment
PT enrolment

Other (MS,…)
FT enrolment
Undergrad
enrolment
Rank

Business School

1 University of Chicago 0 1125 1568 559 109 0 IMBA 3361 3361
2 University of Pennsylvania (Wharton) 2477 1640 0 400 187 0 0 2227 4704
3 Northwestern University (Kellogg) 0 1200 1300 420 118 0 0 3038 3038
4 Harvard University 0 1808 0 0 67 41 0 1916 1916
5 University of Michigan (Ross) 1069 876 766 168 100 0 30 1940 3009
6 Stanford University 0 741 0 0 101 0 55 MS 897 897
7 MIT (Sloan) 472 746 0 0 73 0 0 819 1291
8 UC Berkeley (Haas) 700 486 773 136 76 0 65MSFe 1536 2236
9 Duke University (Fuqua) 0 826 0 622 78 0 0 1526 1526
10 Columbia University 0 1220 0 606 102 0 0 1928 1928
11 Dartmouth (Tuck) 0 500 0 0 0 0 0 500 500
12 UCLA (Anderson) 0 740 725 139 62 0 0 1666 1666
13 Cornell University (Johnson) 708 565 0 303 43 0 0 911 1619
14 NYU (Stern) 2335 838 2030 234 103 0 0 3205 5540
15 University of Virginia (Darden) 652 654 0 60 9 0 0 723 1375
16 Carnegie Mellon (Tepper) 573 319 193 0 101 0 173 DMBA 613 1186
17 UNC - Chapel Hill (Kenan-Flagler) 675 571 0 322 51 0 118 MAcc 1062 1737
18 Indiana University (Kelley) 4184 444 323 0 66 0 1205 DMBA 833 5017
19 Yale University NA NA NA NA NA NA NA NA NA
20 University of Texas - Austin 4442 517 217 128 107 0 333 MAcc 1302 5744

Total Enrollment

7000
6000 5744 5540 5017
4704
5000
4000 3361
3038 3009
3000 2236 1928 1916
1737 1666 1619 1526
2000 1375 1291 1186
897
1000 500 298
0 `


Total Enrollment …

Max 5744

Avg 2542

Min 500

Sharif
298
(GSME)

0 1000 2000 3000 4000 5000 6000 7000


Graduate Students Enrollment

4000
3361 3205
3500 3038
3000
2500 2227
1940 1928 1916
2000 1666 1536 1526
1500 1302
1062 911 897 833 819 723
1000 613 500
500 298
0


Graduate Program Enrollment…

Max 3361

Avg 1579

Min 500

Sharif (GSME) 298

0 500 1000 1500 2000 2500 3000 3500 4000


Total Faculty

900 795
800 723
700
600
500 415
371
400
273 262 259 240
300 232 203
186 172 154
200 149 148 141 134
104 81
100 57
20
0


Total Faculty …

Max(University of
Pennsylvania-Wharton) 795

Avg 255

Min(Dartmouth-Tuck) 57

Shrif(GSME) 20

0 200 400 600 800 1000


Graduate Programs Faculty

450
400 383
356
350
300 262 259
250 232 223 220
188 183 172
200 149 148
150 121 104 104 104
101 90
100 81
57
50 20
0


Graduate Programs Faculty…

Max 383

Avg 177

Min 57

Sharif
20
(GSME)

0 100 200 300 400 500


Enrollment/Faculty…

25.0
19.5
20.0
16.0 14.9
15.0 11.7 10.6
10.3 10.2
10.0 9.0 8.8 8.8 8.3 8.2 8.1 8.0 7.3
6.0 5.8 5.8 5.1
5.0 3.8

0.0


Enrollment/Faculty

Schools with Graduate Enrollment<1000

16.0 14.9
14.0
12.0
10.0 8.8 8.8 8.1 8.0
8.0 6.0
6.0 5.1
3.8
4.0
2.0
0.0
Sharif Dartmouth Cornell MIT (Sloan) University of Stanford Carnegie Indiana
(GSME) (Tuck) University Virginia University Mellon University
(Johnson) (Darden) (Tepper) (Kelley)


Distinguished Fellowship


Notable Harvard MBA Alumni

Frank Batten, founder of The Weather Channel (United States)
Michael Bloomberg, businessman and Mayor of New York City
Roy J. Bostock, Chairman of Northwest Airlines, Yahoo
Nicholas F. Brady, former United States Secretary of the Treasury
Greg Brenneman, former CEO of Burger King
Dan Bricklin, co-creator of the VisiCalc spreadsheet program
James E. Burke, former CEO of Johnson & Johnson
George W. Bush, 43rd President of the United States
Frank Carlucci, former United States Secretary of Defense
Elaine Chao, 24th United States Secretary of Labor
P. Chidambaram, Finance Minister of India
Evan Davies, Chairman of Standard Chartered Bank
Susan Decker, President of Yahoo
Dean of the Yale School of Management,
Georges Doriot, one of the founders of INSEAD



William Anders, former NASA astronaut
William Proxmire, former U.S. senator from Wisconsin
Chet Edwards, U.S. Congressman from Texas
A.G. Lafley, CEO of Procter & Gamble
Michael Lynton, Chairman and CEO of Sony
W. James McNerney, Jr., Chairman and CEO of Boeing
Ann S. Moore, Chairman and CEO of Time, Inc.
Meg Whitman, President and CEO of eBay
James Wolfensohn, 9th President of the World Bank
Rick Wagoner, Chairman and CEO of General Motors
Pamela Thomas-Graham, former CEO of CNBC


European Business Schools


ESSEC Business School-France


IMD Business School-Switzerland


IESE Business School-Spain


Warwick Business School-UK


London Business School-UK


Nottingham Business School-UK


Top Masters Programs in Management FT-2007


MS Management Programs in Iran

Day Night
offering
Row Field Total
universities
Term 1 Term 2 Term 1 Term 2

1 Commerce Management 16 130 5 78 10 223

2 Industrial Management 11 77 0 38 10 125

3 Public Management 7 74 0 39 10 123

4 IT Management 6 48 0 25 10 83

5 Finance Management 5 46 0 13 7 66

6 Executive Management 5 30 0 21 0 51

7 Logistics Management 1 15 0 0 0 15

Entrepreneurship
8 1 14 0 0 14 28
Management

9 Urban Management 2 12 0 7 7 26

10 Environment Management 1 8 0 8 0 16

11 Technology Management 1 5 0 5 0 10

Total MS 459 5 234 68 766


MBA programs in Iran

Day Night
Row University Total

1 Tehran
12 0 2 7 21
2 Kerman
0 0 0 0 0
3 Allameh Tabatabaee
0 0 0 0 0
4 Elm & Sanat
0 0 0 0 0
5 Yazd
0 0 0 0 0
6 Sharif GSME
50 0 0 50 100
7 Malek Ashtar
10 0 5 0 15
8 Sanati Shahrood
7 0 3 0 10
Total
79 0 10 57 146


MS in Executive Management

Day Night
Row University Total

1 Tehran
8 0 8 0 16

2 Kerman
4 0 4 0 8

3 Allameh Tabatabaee
5 0 7 0 12

4 Elm & Sanat
10 0 0 0 10

5 Yazd
3 0 2 0 5

Total 30 0 21 0 51


Why MS programs in Sharif?

• To educate intelligent graduates
• To educate faculty members and researchers
• To promote research activities
• To strengthen Ph.D. program
• To help MBA program follow best practices


Which MS programs in Sharif?

• Eleven MS programs in Management offered in Iran
• MS in “Executive Management” offered in 5 universities
• MS in “Executive Management” is suggested because:
– it is more general compared to other MS programs
– it is the closest program to our MBA
– easier to prepare instructors
– Sharif GSME had permission to perform it before

Sharif University of Technology

Decisions to be made for MS program

• Should we start MS program?
• Which MS program?
• When to start the program?
• What type of applicants?
• How many entrants?
• Max allowed length of MS program?
• Status of Projects/Thesis?
• Change MBA courses for MS students?
• Hire new faculty?
• How to start?
• Allocation of faculty members to thesis/project?


Decisions to be made for MBA program

• How many entrants (per year/term)?
• Percentage of college Seniors?
• Appropriate class profile?
• Can we re-start ATT?
• Max allowed Length of MBA program?
• Status of Thesis/Project in MBA program?
• How to manage existing MBA theses?
• Decision about PT, EMBA, DMBA, Executive training programs?
• How to manage shortage in faculty members?
– Improve the status of existing faculty
– Hire new faculty members
– Invite highly experienced managers to teach


Business Schools
Best Practice

END

Thank you for
your attention


Top 20 MBA in the world
Annual Full Time MBA Entrants

1000 901 900 887
900
800 760
700
600 560
494
500 433
400 362
310
300 240 210 200 191
178 150
200 90 60
100
0


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