AACSB Annual Assessment Report For

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1 AACSB Annual Assessment Report For Masters of Business Administration (MBA) Master s (Instructional Degree Program) (Degree Level) October 1, 2012 September 30, 2013 October 31, 2013 (Assessment Period Covered) (Date Submitted) Learning Objective: Ethical and Legal Knowledge 1. MBA students will demonstrate knowledge of ethical and legal responsibilities in organizations and society. First Means of Assessment for Learning Objective 1 Identified Above: 1a. Ethics Case in BUSI 7230 Cost Analysis and Systems At least 75% of MBA students will achieve an average rating of 8.0 or higher on a 10-point scale measuring knowledge of ethical and legal responsibilities in organizations and society where 10 = excellent and 1 = unacceptable. The instructor in BUSI 7230 (Cost Analysis & Systems) and one additional faculty will rate students written analysis of an ethics case problem assignment in the course using the rating scale described above. The data is from Spring Semester a. Summary of Assessment Data Collected: Instructor: N = 48. Additional Faculty: N = % of MBA students received a rating of 8.0 or higher on the 10 point scale described above. 1a. Use of Results to Improve Instructional Program: Program is meeting goal however greater emphasis on ethics is desired in the program. The faculty are currently considering ways to improve ethics coverage in the overall program. Second Means of Assessment for Learning Objective 1 Identified Above: 1b. Ethics Case in BUSI Marketing and Consumer Theory At least 75% of MBA students will achieve an average rating of 80 or higher on a point scale measuring knowledge of ethical and legal responsibilities in organizations and society where = excellent and 59 or less = unacceptable. The instructor in BUSI 7210 (Marketing and Consumer Theory and one additional faculty will rate students analysis of an ethics case problem assignment in the course using the rating scale described above. A case that brings in the issues of domestic-centered ethics versus foreign-centered ethics is used. It covers legal, ethical, moral issues from a United States perspective and a perspective from other countries. The case is to help sensitize future business managers to the situational nature of what is legal and what is ethical along a continuum. It provides a road map for determining consequences (personally and professionally) from ones actions. Class discussion 1

2 is graded for participation contribution and a written response to general questions. Students will have an understanding of the concepts ethics. They will know the differences between ethics and morals. Student will have an understanding of the Foreign Corrupt Practices and how it applies to daily business practice. The data is from Spring Semester b. Summary of Assessment Data Collected: Instructor: N = 37. Additional Faculty: N = % of MBA students received a rating of 8.0 or higher on the 10 point scale described above. Topic Less Proficient Proficient Highly Proficient Understands definitions / concepts / principles 5% 10% 85% Understands laws and regulations relating to 5% 15% 80 ethical conduct of business in the United States and Abroad (Foreign Corrupt Practices Act, Trade and Competitiveness Act) Road Map Tool to Guide Ethical Business Behavior. 5% 10% 85% 1b. Use of Results to Improve Instructional Program: Program is meeting the goal. However some areas to address are noted below: Weaknesses The under-performing students did not understand the definitions and concepts. The under-performing students came from a different country with different ethics, moral, laws. Method to Correct Weakness Given that a number of students are international students, two other foundation readings will be provided. This will help them understand the differences across cultures for what constitutes ethical and moral business behavior. The case will be taught with a more global view; less emphasis on the United States perspective. International laws regarding ethics and morals will be provided to help our international students interject their local understanding into a global business operation. 2

3 Learning Objective: Creation of Value 2. MBA students will demonstrate knowledge of the creation of value through the integrated production and distribution of goods, services and information. First Means of Assessment for Learning Objective 2 Identified Above: 2a. Business Simulation in BUSI Marketing & Consumer Theory At least 75% of MBA students will achieve an average rating of 8.0 or higher on a 10-point scale measuring knowledge of the creation of value through the integrated production of goods, services, and information where 10 = excellent and 1 = unacceptable on a computer simulation in BUSI 7210 (Marketing and Consumer Theory). The instructor and one additional faculty will evaluate students performance on the computer simulation assignment using the rating scale described above. Students begin with a green field. They develop the research criteria, use data to develop products for various market segments, construct and manage global sales offices and the sales force, construct and manage global promotion and advertising, develop and manage pricing strategies across markets, while managing the investment dollars of their companies via financial statements. As teams progress through the simulation their competitors continually reposition the market. As such, every team can succeed and every team can go bankrupt. Students also develop and present marketing plans which drives their simulation tactics. The simulation tracks each person and team on the areas mentioned above such that scalable scores allow the professor objective measures. Although there are ranges of scores, each team has demonstrated their ability to operate a business under the purview of marketing and consumer theory. The data is from Spring Semester a. Summary of Assessment Data Collected: Instructor: N = 39. Additional Faculty: N = % of MBA students received a rating of 8.0 or higher on the 10 point scale described above. Topic Less Proficient Proficient Highly Proficient Developing research criteria for new product 4% 21% 75% development Developing and managing market segments 4% 21% 75% Developing and managing pricing strategy 4% 11% 85% Managing sales offices and the sales force 4% 11% 85% Developing and managing advertising strategy 4% 11% 85% Managing investments for marketing strategy 4% 5% 91% 3

4 2a. Use of Results to Improve Instructional Program: Program is meeting goal and the simulation continues to be a useful integrative experience for students. However, some areas to be addressed are noted below: Weaknesses Developing research criteria for new product development Developing and managing market segments Developing and managing pricing strategy Managing sales offices and the sales force Developing and managing advertising strategy Managing investments for marketing strategy Method to Correct Weakness An initial reading and homework exercise will be provided to demonstrate what information is needed and how to develop a new product. A specific segmentation exercise with examples of how to select segments will be provided to students before they engage in the simulation. This will ensure they know this area before they have a final deliverable. Homework exercises with applied pricing examples will be provided with an extra reading supplement. More details for sales office selection, formulae for this process will be provided before the simulation begins. This will give a benchmark of what is, is not known for further mentoring. A reading and exercise on promotion strategy will be provided before students engage in the simulation. The majority of students already understand this. They have had classes in Finance and Accounting which emphasis these concepts. No real weakness here. 4

5 Second Means of Assessment for Learning Objective 2 Identified Above: 2b. Final Exam in BUSI Financial Analysis At least 75 percent of MBA students will achieve a rating of 80 or higher on objective-type Final Exam in BUSI 7110 (Financial Analysis) using a 100-point scale where a score of = excellent and 59 or less = unacceptable. The instructor will evaluate students performance using the rating scale described above. The exam was a cumulative final exam in the Fall of 2013 comprised of 7 free response conceptual questions (31 points) and 7 free response quantitative questions (69 points). Topics included the cost of capital, capital budgeting cash flows and decision criteria, free cash flow, lease analysis, financial forecasting, capital structure, corporate governance, and firm value. The data is from Fall Semester b. Summary of Assessment Data Collected: Instructor: N = % of MBA students received a rating of 80 or higher on the 100 point scale described above. Partial credit was given for questions and problems according to a pre-determined distribution of parts to a given exam item. Topic Unsatisfactory Satisfactory Excellent Cost of Capital 9% 12% 79% Capital Budgeting 33% 24% 42% Capital Structure Theory (conceptual) Corporate Governance (conceptual) 33% 24% 42% 39% 45% 15% Forecasting 12% 15% 73% 2b. Use of Results to Improve Instructional Program: These results illustrate the broad spectrum of students in the course: some with finance degrees and others with little finance background. One area that needs greater clarity is understanding and applying theory/concepts, rather than doing calculations. The instructor will increase time and emphasis on the application and understanding of theory in the topics of capital structure and corporate governance. Two additional improvements are a restructuring of prerequisites and additional review sessions for those who need more time and attention. Prerequisites and a new orientation bootcamp have been restructured for the upcoming year to create a more uniform and time-appropriate finance understanding prior to the start of the course. Weekly review sessions will be moved to a more convenient time to encourage greater participation from those who need them. 5

6 Learning Objective: Statistical Knowledge 3. MBA students will demonstrate knowledge of statistical data analysis and management science as they support decision-making processes throughout an organization. First Means of Assessment for Learning Objective 3 Identified Above: 3a. Case in BUSI Quantitative Analysis for Business Decisions At least 75 percent of MBA students will achieve a rating of 80 or higher on a 100 point scale measuring knowledge of statistical data analysis and management science where = excellent and 59 or less = unacceptable. The instructor in BUSI 7120 (Quantitative Analysis for Business Decisions) in will rate students application of statistical data analysis and management science knowledge based their performance on an applied objective case-based problem using the rating scale described above.. Case Content: The purpose of this case was to evaluate the students ability to solve a practical problem in the area of management science. This particular case was a linear programming case that dealt with finding the optimal distribution and use of raw materials to optimize profits for a given demand for multiple finished products. Grading Rubric: The cases were graded based on four major areas: 1) Definition of variables used in the model. 2) Correct formulation of the objective function. 3) Correct formulation of the model constraints. 4) Correct interpretation of the model solution using the LINDO optimization software package. 3a. Summary of Assessment Data Collected: Instructor: N = % of MBA students received a rating of 80 or higher on the 100 point scale described above. Case Insights: Relative to the other linear programming problems worked in the class, this problem was more difficult. The students are given roughly 1-week to complete this assignment, and it is an individual assignment. Although, it is more difficult, in terms of the number of variables and the number of constraints, the performance of the class should be expected given the fact that it is a take-home assignment. The students spend roughly 8 hours on this assignment. The scores ranged from 70 to 100. Needs Work Problem Formulation Meets Expectation s Excellent Needs Work Constraint Development Meets Expectation s Excellent On- Campus

7 3a. Use of Results to Improve Instructional Program: Although a large majority of the students performed very well on this case, the performance of the students was evaluated on two of the objectives of the case. The first was problem formulation and the second major area of the case was constraint development. The cases were reviewed and if the student was perfect or made only minor mistakes then the student performance was either Excellent or Meets Expectations If the student made multiple mistakes, then it was counted as Needing Work. It appeared that the on-campus students performed very well on both aspects of the case. Again, in general, the students are performing at a level in which 92% scored 80 points or higher on the case, but there does appear like more concentration of work needs to be placed the constraint development portion of the modeling process. Second Means of Assessment for Learning Objective 3 Identified Above: 3b. Exams in BUSI Quantitative Analysis for Business Decisions At least 75 percent of MBA students will achieve a rating of 8.0 or higher on a 10-point scale measuring knowledge of statistical data analysis and management science where 10 = excellent and 1 = unacceptable. The instructor in BUSI 7120 (Quantitative Analysis for Business Decisions) will rate students application of statistical data analysis and management science knowledge in completing selected objective questions on Mid-Term and Final Exams using the rating scale described above. Exam Content: The semester is split into two parts: statistical analysis and management science issues. At the end of the first half, a mid-term exam is administered. This exam covers the normal distribution, the sampling distribution, hypothesis testing, linear regression, multiple regression and model building using multiple regression. The final exam covers the management science issues and the major areas covered are Decision Analysis and linear Programming Applications. Exam Format: The stats exam is a multiple choice exam and is very objective in its questioning, covering the basics of working and interpreting the results of inferential statistics problems. The time limit on the exam is 1.5 hours and contains roughly 40 questions. The score on the entire exam is used as part of the assessment tool. The management Science exam is a problem-solving exam and contains a variety of problems that range from basic problems to more difficult questions. Both decision analysis problems and linear programming problems are on the exam. The exam lasts 2.5 hours. Basic questions from both areas of the final exam are used for assessment purposes. 7

8 3b. Summary of Assessment Data Collected: Instructor: N = % of MBA students received a rating of 8.0 or higher on the 10 point rating scale described above. Insights: In the last several years, we have achieved the goal of 75% by just a few points results indicate results in the 79% range. The scores ranged from 4 to 10. Over the last two years there seems to be a trend on the management science exam, in that the students have more difficulty with cost and min problems as opposed to profit and max problems. In 2013, our plan is to provide just as much lecture time for the cost problems as we do for the profit problems. Needs Work Decision Analysis Meets Expectation s Excellent Needs Work Linear Programming Meets Expectation s Excellent On- Campus b. Use of Results to Improve Instructional Program: The performance by the students on the final exam met expectations in terms of the objective score of 75% or more of the class scoring 8 or more on a 10 point scale. It was suspected that the min/max portion of the decision analysis topic might have been an issue with the students. The exams were reviewed and if the student was perfect or made only minor mistakes then the student performance was either Excellent or Meets Expectations If the student made multiple mistakes, then it was counted as Needing Work. A large portion of the in-class students appeared to struggle with the decision analysis section. And as expected, the problems appeared on the Min problems. It would only be speculation as to what was driving the difference, but nonetheless, students tend to have more problems with min problems. Therefore, more emphasis needs to be placed in this area. Again, the overall performance of the class is acceptable, but improvements can definitely be made. 8

9 Learning Objective: Domestic and Global Economic Knowledge 4. MBA students will demonstrate knowledge of domestic and global economic environments of business. First Means of Assessment for Learning Objective 4 Identified Above: 4a. Mid-term Exam in BUSI Strategic Analysis and the Competitive Environment At least 75 percent of MBA students will achieve an average score of 80 points or higher on a 100 point scale measuring knowledge of domestic and global economic environments where = excellent and 59 or below = unacceptable. The instructor in BUSI 7130 (Strategic Analysis and the Competitive Environment) will evaluate the students scores on an objective mid-term exam demonstrating knowledge of domestic and global economic environments of business using the rating scale described above. The data is from Fall Semester a. Summary of Assessment Data Collected: Instructor: N = % of MBA students achieved a rating of 80 or higher using the 100 point scale described above 4a. Use of Results to Improve Instructional Program: Program is meeting goal. The instructor for this course has left the University and the decision to continue to include this assessment mean will be reevaluated for the coming assessment period. Second Means of Assessment for Learning Objective 4 Identified Above: 4b. Final Exam in BUSI Strategic Analysis and the Competitive Environment At least 75 percent of MBA students will achieve an average score of 80 or higher on a 100 point scale measuring knowledge of domestic and global economic environments where = excellent and 59 or below = unacceptable. The instructor in BUSI 7130 (Strategic Analysis and the Competitive Environment) will evaluate the students objective final exam performance demonstrating knowledge of domestic and global economic environments of business using the rating scale described above. The data is from Fall Semester b. Summary of Assessment Data Collected: Instructor: N = % of MBA students achieved a rating of 80 or higher using the 100 point scale described above. 4b. Use of Results to Improve Instructional Program: Program is exceeding the goal. The instructor for this course has left the University and the decision to continue to include this assessment mean will be reevaluated for the coming assessment period. 9

10 Learning Objective: Leadership Capacity 5. MBA students will demonstrate the capacity to adapt and lead in organizational situations with people from diverse backgrounds. First Means of Assessment for Learning Objective 5 Identified Above: 5a. Competing Values Survey Pre and Post Comparison At least 75 percent of MBA students will achieve a positive difference between their final and entering assessments on a 7 point Competing Values Leadership Survey, where the scale is 1 = Low Leadership Skills to 7 = High Leadership Skills. The results of the survey will be evaluated by one faculty member using the rating scale described above. The Competing Values Skills profile is a 120 item survey with 5 items for each of 24 domains such as managing conflict and understanding self and others. Items assess awareness of issues, concepts, and personal assessments of capabilities. All domains are scored on a scale from 1-7, with 7 being best. Campus students are asked to take the survey before they start the program. All students are asked to take the survey near their graduation date. The initial and final results are compared for change over time. For purposes of evaluation, focus is placed on the lowest scoring areas and areas that score lower than 5.5 at graduation OR show less 0.5 improvement over time. For example, one domain may show little improvement but have been rated high at the start of the program and this should not be viewed as a problem. Likewise, an area may show a low rating at graduation but have actually increased substantially due over time. 5a. Summary of Assessment Data Collected: Instructor: N = 0 (No exit data was collected for on-campus students). 5a. Use of Results to Improve Instructional Program: Unfortunately, through miscommunication, on-campus students were not asked to complete the time 2 survey. A new process has been implemented to insure campus MBA time 2 results. However, previous results suggest overall effectiveness across all areas assessed. 10

11 Second Means of Assessment for Learning Objective 5 Identified Above: 5b. Peer Leadership Rating in BUSI Integrated Business Project and Case Analysis At least 75 percent of MBA students will achieve a peer rating of at least 75 percent or higher on a 15 point scale measuring ability to demonstrate leadership where 15 = excellent and 1 = unacceptable. MBA students enrolled in BUSI 7980 (Integrated Business Project and Case Analysis) will perform peer evaluations of other team members using the rating scale described above. The peer evaluation document covered 10 areas ranging from simply being prepared for meetings, to evaluating the level of contribution toward the final project, and finally their ability to resolve conflicts among the group. The questions can be clustered into three major categories which are: Collaboration to the Group; Decision making with the Group members; Commitment with Group members: Commitment to the Group: He/She was well prepared for our meetings. He/She was dependable in getting the assignment work done in time. He/She made an effort to ensure that they were easy. to contact when needed. He/She took this course seriously. Decision making with the Group members: He/She made a valuable contribution to the group. He/She was willing to accept alternative viewpoints. Collaboration with Group members I would be willing to work with him/her in the future. He/She was well prepared for the presentations. He/She helped other team members when needed. He/She was able to help resolve disagreements when needed. Data is from Fall Semester b. Summary of Assessment Data Collected: Peer Evaluation: N = % of MBA students received a 75 or higher on the scale described above. The breakdown by cluster is listed below: Commitment to the Group: 97.2% Decision making with the Group members: 97.2% Collaboration with Group members: 97.2% 5b. Use of Results to Improve Instructional Program: Program is meeting goal. We are evaluating whether there is a more effective assessment measure that we could use to capture this data. We will most likely move to a pre and post survey of the students to capture some overall learning objectives. In addition, we recommend that the OCPD make a presentation to the class on effective group development. 11

12 Learning Objective: Apply Knowledge in New & Unfamiliar Situations 6. MBA students will demonstrate the capacity to apply knowledge in new and unfamiliar circumstances through a conceptual understanding of relevant disciplines. First Means of Assessment for Learning Objective 6 Identified Above: 6a. Project in BUSI Integrated Business Project and Case Analysis At least 75 percent of MBA students will achieve a rating of 80 percent on a 100 point scale where 90% = excellent and 60% or below = unacceptable. MBA students enrolled in BUSI 7986 (Integrated Business Project and Case Analysis) will complete a project demonstrating their research and analytical abilities to apply knowledge in new and unfamiliar circumstances through a conceptual understanding of relevant disciplines. The project is based on the students being assigned to an actual company client and develop a comprehensive analysis which identifies the current status of the firm and develop strategic recommendations. The current status of the firm is based on the following four analyses: industry, competitive, marketing, financial and SWOT. The strategic recommendations are based on the recommended development of a future strategy of the firm (strategic formulation) and the development of a strategy in order to properly execute the strategy (strategic implementation). The project will be evaluated by the course instructor and one additional faculty member using the rating scale described above. Industry Analysis 10 points Competitive Analysis 10 points Marketing Analysis 10 points Financial Analysis 10 points SWOT Analysis 10 points Strategic Formulation Recommendations 25 points Strategic Implementation Recommendations 25 points The data is from Spring Semester a. Summary of Assessment Data Collected: Instructors: N = % of MBA students received an overall rating of 80% higher. Industry Analysis 100% Competitive Analysis 100% Marketing Analysis 100% Financial Analysis 100% SWOT Analysis 100% Strategic Formulation Recommendations 100% Strategic Implementation Recommendations 100% 6a. Use of Results to Improve Instructional Program: Program is meeting goal. This project is an excellent measure of this Learning Objective. It occurs at the end of the program and the on campus and online students are put together on teams and have to work together in a disconnected environment with a real business problem. We will continue to improve the process in which we identify potential client firms that will enhance the ability of the students to apply their knowledge in developing recommendations for business entities. 12

13 Second Means of Assessment for Learning Objective 6 Identified Above: 2a. Business Simulation in BUSI Marketing & Consumer Theory At least 75% of MBA students will achieve an average rating of 8.0 or higher on a 10-point scale where 10 = excellent and 1 = unacceptable on a computer simulation in BUSI 7210 (Marketing and Consumer Theory). The instructor and one additional faculty will evaluate students performance on the computer simulation assignment using the rating scale described above. Students begin with a green field. They develop the research criteria, use data to develop products for various market segments, construct and manage global sales offices and the sales force, construct and manage global promotion and advertising, develop and manage pricing strategies across markets, while managing the investment dollars of their companies via financial statements. As teams progress through the simulation their competitors continually reposition the market. As such, every team can succeed and every team can go bankrupt. Students also develop and present marketing plans which drives their simulation tactics. The simulation tracks each person and team on the areas mentioned above such that scalable scores allow the professor objective measures. Although there are ranges of scores, each team has demonstrated their ability to operate a business under the purview of marketing and consumer theory. The data is from Spring Semester a. Summary of Assessment Data Collected: Instructor: N = 39. Additional Faculty: N = % of MBA students received a rating of 8.0 or higher on the 10 point scale described above. Topic Less Proficient Proficient Highly Proficient Developing research criteria for new product 4% 21% 75% development Developing and managing market segments 4% 21% 75% Developing and managing pricing strategy 4% 11% 85% Managing sales offices and the sales force 4% 11% 85% Developing and managing advertising strategy 4% 11% 85% Managing investments for marketing strategy 4% 5% 91% 13

14 2a. Use of Results to Improve Instructional Program: Program is meeting goal and the simulation continues to be a useful integrative experience for students. However, some areas to be addressed are noted below: Weaknesses Developing research criteria for new product development Developing and managing market segments Developing and managing pricing strategy Managing sales offices and the sales force Developing and managing advertising strategy Managing investments for marketing strategy Method to Correct Weakness An initial reading and homework exercise will be provided to demonstrate what information is needed and how to develop a new product. A specific segmentation exercise with examples of how to select segments will be provided to students before they engage in the simulation. This will ensure they know this area before they have a final deliverable. Homework exercises with applied pricing examples will be provided with an extra reading supplement. More details for sales office selection, formulae for this process will be provided before the simulation begins. This will give a benchmark of what is, is not known for further mentoring. A reading and exercise on promotion strategy will be provided before students engage in the simulation. The majority of students already understand this. They have had classes in Finance and Accounting which emphasis these concepts. No real weakness here. 14