Trends in Accelerated MBA Programs

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1 Trends in Accelerated MBA Programs May 2013 In the following report, Hanover Research explores one year MBA programs, either as a 4+1 offering or as a stand alone one year program. Looking first at trends in accelerated MBA programs over the last decade, the report then discusses student attitudes to the various types and durations of MBA program available. Finally, the report profiles a pair of one year MBA programs, examining curricula, support services, and experiential learning opportunities provided to students.

2 TABLE OF CONTENTS Executive Summary and Key Findings... 3 KEY FINDINGS... 3 Accelerated MBA Trends... 4 PROGRAM LENGTH AND CURRICULAR TRENDS... 4 Social Responsibility... 6 STUDENT ATTITUDES AND PREFERENCES... 8 PROFILES OF ACCELERATED MBA PROGRAMS Quinnipiac University BS/MBA Degree Antioch University MBA in Sustainability Hanover Research Academy Administration Practice 2

3 EXECUTIVE SUMMARY AND KEY FINDINGS This report explores growth in programs that ultimately lead to the awarding of MBA degrees in a reduced timeframe. It considers both augmented bachelors programs (4 + 1 degrees) and accelerated one year MBA programs, along with programs relevant for social responsibility and sustainability studies. Interviews with program administrators at two accelerated MBA programs provide greater insight into the growing market for these programs. KEY FINDINGS The prevalence and popularity of one year MBA programs has increased in recent years. In addition to observations that the prevalence of such degree options is increasing, the experiences of prominent business schools such as Kellogg at Northwestern indicate that one year programs are gaining in popularity. According to Quacquarelli Symonds (QS) survey data, while the two year MBA is still the preferred choice in North America as compared to Europe, students increasingly prefer degrees 18 months or less in length. QS indicates that the traditional 24 month US MBA program format has come under increasing pressure to adapt. The most recent enrollment data from Association to Advance Collegiate Schools of Business (AACSB) members indicate that within the U.S., part time evening or weekend MBA programs and traditional two year programs are still the most common choices. Outside of the U.S., most students are enrolled in traditional fulltime two year programs, as compared to more alternative formats such as parttime, accelerated, and distance learning. Within the U.S., part time evening/weekend programs account for 42 percent of MBA enrollments, traditional two year programs account for 24 percent, and programs categorized as full time accelerated account for only 4 percent of enrollments. Recent survey results suggest that students increasingly consider the cost of an MBA degree when choosing a program compared to other factors. A GMAC survey of prospective students found that those considering a one year MBA program identify career services, scholarships, and graduate job placement success as the top three criteria when selecting a program. Most accelerated MBA programs either require or emphasize some sort of practical training that centers on projects or consulting for external companies. This may entail a practicum or consulting engagement with a company or other organization (e.g., governmental agency) that goes beyond a traditional internship. Based on interviews with program administrators, the targeted selection of students who are well suited for the intense learning environment of a one year MBA will likely be of paramount concern during admissions. Students are more likely to thrive and succeed when their learning styles and experience match well with fast paced instruction, quick transitions between topics, and tight deadlines. Students that are only interested in finishing an MBA quickly are less likely to perform as well in such a program Hanover Research Academy Administration Practice 3

4 ACCELERATED MBA TRENDS PROGRAM LENGTH AND CURRICULAR TRENDS The option to pursue accelerated degrees at both the undergraduate and graduate levels has proven popular with students in recent years, particularly within the field of business and business management. This is especially true with graduate level degrees, where trends over the last two to three years have shown a growth in the number of one year MBA degrees. 1 Based on a 2012 survey with over 4,500 responses, Quacquarelli Symonds (QS) reported that there has been a dramatic change in popularity over the last decade, as the traditional 24 month US MBA program format has come under increasing pressure to adapt. 2 In fact, the one year MBA is the standard format in Europe and remains by far the most popular option in that region. While the two year MBA is still preferred in the United States and Canada, this preference has diminished slightly over the past year (Figure 1). Figure 1: Preferred Program Length, United States and Canada PROGRAM LENGTH < 10 months 2.1% 2.9% months 27.5% 28.5% months 59.9% 56.6% > 24 months 10.6% 11.9% Source: QS TopMBA.com Applicant Survey 2012 Just recently, one of the leading business schools in the nation, the Kellogg School at Northwestern, took steps to shrink its two year MBA program by as much as 25 percent, and double or triple the enrollment in the school s one year MBA program for business undergraduates. 3 According to the Kellogg School Dean, demand for two year degrees will decline and one year programs will see faster growth. Resulting from a strategic review by the School, the MBA program will focus on four impact areas because the problems businesses need to solve don t fall into a single disciplinary bucket anymore. We will reorganize how we do our research and what we have in our curriculum. We are trying to get out of this 20 th Century, overly siloed way of teaching business. 4 This perceived demand has led to the introduction of similar degree offerings at colleges and universities all across the country, either in the form of so called degrees (combined BA/BS and MBA degrees completed in five years) or one year, accelerated MBA degrees. Some institutions, such as Quinnipiac University, have introduced new programs that reduce the time for both degrees even further: programs that award both 1 Bogoslaw, D. One Year MBA Programs Gain More Traction. Poets and Quants, July 10, year mba programs gain more traction/3/ QS TopMBA.com Applicant Survey. QS Quacquarelli Symonds. p Byrne, J. Kellogg To Shrink Two Year MBA Program. Poets and Quants, February 6, to shrink two year mba program/ 4 Ibid Hanover Research Academy Administration Practice 4

5 undergraduate and graduate degrees in the same amount of time a traditional bachelors degree requires. 5 Others have combined degrees in different fields at the graduate level, resulting in dual MA/MBA degrees in less than three years. At the University of Pittsburg, for instance, there is an option to pursue a dual degree program in International Development and Business Administration in two and a half years, giving students two distinct graduate degrees and professional skill sets. 6 These degrees have grown in popularity in part due to the cost savings they present over two traditionally separate degrees. Yet another reason is the reduced time commitment of a one year degree, particularly when most students are eager to begin or continue working but realize that the competitive edge in the marketplace now lies with advanced degrees as opposed to just the bachelors degree. 7 The combination of these two reasons, along with the potential for international experience, is why the last few years have seen growth in European and other global MBA programs. 8 Figure 2 shows the total business program enrollments at Association to Advance Collegiate Schools of Business (AACSB) member institutions, while Figure 3 shows MBA enrollment by program type. Both indicate relative percentages of enrollment and program share between U.S. and non U.S. institutions. Figure 2: Total Program Enrollment and Percentages, AACSB Member Institutions, U.S. and Non U.S., PROGRAM TYPE U.S. NON U.S. % U.S. % NON U.S. Undergraduate 855, ,103 72% 28% MBA 157, ,498 61% 39% Specialized Masters 51,203 71,617 42% 58% Doctoral 6,654 11,003 38% 62% Source: AACSB International = MBA. Quinnipiac University Admissions (Undergraduate) blog, June 6, mba.html 6 MBA/Master of International Development. University of Pittsburg. mid.php 7 Singh, P. and Martin, L. Accelerated Degree Programs: Assessing Student Attitudes and Intentions. Journal of Education for Business. May/June, Priest, M., Why More MBA Applicants are Choosing European Business Schools. Vault. Advice/Education Advice/Why More MBA Applicants Are Choosing European Business Schools?id=6088&filter_type=0&filter_id=0; Burns, R., European MBA applications increase dramatically. Quacquarelli Symonds. MBA business school applications increase 9 Total Program Enrollment and Percentages, AACSB Member Institutions, U.S. versus Non U.S., AACSB International Hanover Research Academy Administration Practice 5

6 Figure 3: MBA Enrollment by Program Type, AACSB Member Institutions, PROGRAM TYPE UNITED STATES OUTSIDE OF THE UNITED STATES FT Traditional Two Year 24% 49% FT Accelerated 4% 6% FT Distance Learning 1% FT Other 4% 19% PT Evenings/Weekends 42% 14% PT Off Campus 5% 6% PT Distance Learning 6% 12% PT Other 4% 3% Traditional Executive Education 7% 15% Other Executive Education 2% 3% Source: AACSB International 10 Degree requirements will vary depending on the focus of the programs, as some are more traditionally management focused while others choose to focus on other areas of expertise, such as sustainability or international business. 11 The core requirements for these degrees are, however, normally standard. They typically admit students with a pre established background in business, or with the presumption that students can complete prerequisite courses before beginning the degree. The more flexible MBA programs offer the same accelerated degrees to students with either little or no business background but with other academic backgrounds, such as engineering, science, technology, or other fields that integrate well with business and give students an advantage in the global marketplace. 12 Examples of this sort of degree include the Fast Track BS MBA at Binghamton University, the dual degree options at the University of Arizona Eller School, and a whole host of offerings at Drexel University. 13 SOCIAL RESPONSIBILITY Another trend has been for business schools to introduce MBA or other business degree options that focus on sustainability, green initiatives, and social responsibility more broadly. Much of this has to do with the expansion of green business, as well as a growing sense 10 MBA Enrollment by Program Type, AACSB Member Institutions, Worldwide, AACSB International. 11 One Year Advanced Entry MBA. Monterey Institute of International Studies. 12 Insights from 2013 Global Information Technology Report Sets the Course for Business Education. PR Newswire, April 10, releases test/insights from 2013 global informationtechnology report sets the course for business education html; Univs offer integrated courses to woo youngsters. The Times of India. April 25, /jaipur/ _1_degree programme rtu rajasthan technical university 13 Accelerated Programs. Binghamton University. grad/acceleratedprograms.html; Accelerated Dual Degree Programs. University of Arizona. Accelerated Degree Programs. Drexel University. degrees/ 2013 Hanover Research Academy Administration Practice 6

7 among business leaders that businesses need to operate more responsibly, do more with limited resources, and reduce their overall environmental impact. Students with practical skills in these areas are therefore in much greater demand than before, and institutions are developing programs to meet that marketplace need. 14 The most recent Net Impact report (2012) identified more than 100 business schools that incorporate some degree of social responsibility and environmental themes into their curriculum, according to a survey of more than 3,000 MBA students. 15 In fact, several of the schools have replaced elective courses in these areas and instead incorporate these concepts and themes into their broader core course content. Net Impact states: The University of Maryland's Smith School of Business, for example, removed its flagship Corporate Responsibility course last year and instead, injected these themes into 10% of all course content. 16 Other institutions have made curricular strides by addressing responsible leadership in management, such as Yale University, Rollins College, and Dalhousie University (Canada), all of which have MBA programs that reflect the growing commitment in the field to conducting business ethically and conscientiously. 17 The Net Impact survey also found that MBA students are considering a wider variety of sectors for employment upon graduation, as compared to their sectors of employment before entering these MBA programs. Figure 4: Pre and Post MBA Jobs, Net Impact Survey of MBA Students 70% 60% 50% 40% 30% 20% 10% 0% 64% 59% Traditional Corporations 26% 41% 46% 34% 9% 39% Startups Nonprofit Spcial Enterprises 13% 59% Socially Responsible Business Pre MBA Sector of Employment Post MBA Career Considerations Source: Net Impact 14 Witkin, J. Business Studies Become Environmentally Friendly. The New York Times, August 25, studies become environmentally friendly/; Di Meglio, F. Going Green: MBA Sustainability Programs. Bloomberg BusinessWeek, April 17, /going green mba sustainability programs 15 Business as Unusual The Student Guide to Graduate Programs Net Impact P docs/business_as_unusual_2012.pdf 16 Johnston, S. Business as Unusual 2012 Reflects Shift in Impact MBAs. Net Impact Blog, August 21, business as unusual Highlights from Beyond Grey Pinstripes. Beyond Grey Pinstripes at the Aspen Institute. highlights 2013 Hanover Research Academy Administration Practice 7

8 STUDENT ATTITUDES AND PREFERENCES As already suggested, the comparative advantage of completing an MBA in one year as opposed to two is becoming the preferable option for many students for a number of reasons. Chief among them is the financial savings, as well as the ability for students to enter the job market sooner. 18 This trend was noticeable nearly ten years ago, when a study concluded that a majority of students preferred to complete their MBA degrees as quickly as possible. 19 The same study asked students about their potential interest in a change in the schedule of their MBA degree program, and found that: 20 Most students were not concerned about potentially negative impacts on class participation (i.e., if the classes were longer, it would affect my participation level) Those interested in an accelerated MBA were more likely to take more classes than they might otherwise Students were more likely to encourage people they knew to attend the university if the accelerated program was implemented A recent poll conducted by the Graduate Management Admission Council identified the six primary considerations that affected students choice of an MBA program. As indicators of demand, it is worth noting that cost grew in importance to students more over the last four years than any other factor. 21 In fact, the perceived importance of every other factor in potential students decision making went down between 2009 and 2012, while concern over finances almost doubled over the same time. 22 This, combined with time to completion, constitute two areas where accelerated MBA programs will have an advantage. Other selection criteria that are important to students when choosing an MBA program, specific to each degree type (e.g., part time, accelerated, online, etc.), are in Figure 5. These concerns are what most students care about when choosing an MBA program and are listed in order of importance. For example, students that are more concerned with the proximity of an institution to their place of work are more likely to look for a part time program than a full time two year program, whereas students more concerned with establishing connections and networks are less likely to be considering online degrees. 18 Damast, A. The Shorter, Faster, Cheaper MBA. Bloomberg BusinessWeek, October 15, Singh and Martin, op. cit., Ibid., mba.com Prospective Students Survey: School Appeal Report. Graduate Management Admission Council. p.1. student data/2013 prosp student surveyschool appeal.pdf 22 Ibid Hanover Research Academy Administration Practice 8

9 Figure 5: Selection Criteria Most Considered for MBA Programs, 2012, by Degree Format FULL TIME TWO YEAR FULL TIME ONE YEAR MBA MBA PART TIME MBA EXECUTIVE MBA ONLINE MBA Access to alumni Quality career Convenient class Convenient class Published ranking network services schedules schedules Job placement Scholarships Proximity to work Accreditation Course type offered Percentage of Alumni industry/job class receiving job function offers Program type Total tuition Percentage of class Housing/other receiving job offers expenses Quality of services Successful alumni Loans for foreign students Program type Quality of students Starting salary Completion time Starting Salary Opportunity costs Geographic locations of jobs Rigor of program International exchange programs Source: GMAC 23 International exchange programs Proportion of international students Job placement reputation In terms of student demand for MBA degrees among non business majors or those with different academic backgrounds, students with a science or engineering background are most interested in an accelerated MBA. Figure 6 shows the types of programs that students from various undergraduate majors consider when looking at MBAs. Figure 6: MBA Programs Considered, by Undergraduate Major (2012) UNDERGRADUATE MAJOR PROGRAM CONSIDERED SOCIAL BUSINESS SCIENCE ENGINEERING HUMANITIES SCIENCE Full time MBA, 2 or more years 34% 43% 52% 43% 51% Full time MBA, less than two years 34% 41% 46% 30% 34% Part time MBA 27% 30% 27% 31% 26% Executive MBA 12% 18% 25% 15% 13% Online/Distance MBA 14% 16% 14% 18% 13% Source: GMAC Ibid., Ibid Hanover Research Academy Administration Practice 9

10 PROFILES OF ACCELERATED MBA PROGRAMS To gain a better sense of how students respond to accelerated MBA programs and how these programs are structured, Hanover Research interviewed program administrators at Quinnipiac University and Antioch University New England, both of which host innovative MBA programs in accelerated formats. QUINNIPIAC UNIVERSITY BS/MBA DEGREE Overview: The BS/MBA program at Quinnipiac University uses both an accelerated curriculum and a flat fee pricing model, in which students pay the same amount for all four years, inclusive of housing as well as tuition. The University touts this as providing a 30 percent savings over traditional bachelor s + MBA degree programs. 25 As described by the program s faculty advisor, making certain courses available to students, and structuring the program in a strict fashion, allows the program to shave even more time off a more standard degree: 26 The nature of our MBA program and AACSB accreditation requirements make it necessary for students to take ten credits of their MBA program during their senior (final) year and summer courses immediately after graduation from the undergraduate program. They use their open electives to take these fast track MBA classes. A 1 year MBA would not be possible if students weren t able to complete those requirements during their undergraduate program so it would not work as a stand alone MBA. Students interested in the program do not have to take the GMAT, but must be in the top 20 percent of their high school classes and meet minimum SAT/ACT scores. 27 Once in the program, students are required to maintain at least a 3.0 GPA throughout the course of the degree, as well as complete a minimum of 39 credit hours at the end of each academic year. 28 In order to move on to the final MBA year, a higher minimum GPA of 3.25 is necessary. 29 Quinnipiac also offers a more conventional fast track MBA program for Quinnipiac undergraduates outside of the 3+1 program. 30 Student Demand: According to program s faculty advisor, the response from Quinnipiac s inaugural class (which enrolled in fall 2012) has been overwhelmingly positive and demand has been very healthy. From the first class of 24 students, the number of students that have FAQs. Quinnipiac University. of business engineering/graduateprograms/mba/31 bsmba degree/31 faqs/ 26 Dr. Sean Reid. Dean and Associate Professor of Finance. Quinnipiac University School of Business. correspondence. May 7, BS/MBA Degree. Quinnipiac University. of businessengineering/graduate programs/mba/31 bsmba degree/ FAQs. Quinnipiac University. Op. cit. 29 Ibid. 30 Fast Track Combined Bachelor s/master s Degree Programs. Quinnipiac University. of business engineering/graduate programs/mba/fast trackbachelorsmasters degree programs/ 2013 Hanover Research Academy Administration Practice 10

11 placed deposits to enter the program this coming fall has ballooned to approximately 60. So far, the program is only available to incoming freshmen, but is widely marketed to potential students at Open Houses, College Fairs, and other admissions events and marketing channels (direct mail, electronic media etc.). The number of applications has more than doubled since its introduction only one year ago, and there are no major areas of concern. The program advisor states that Quinnipiac assess[es] the program to be very successful. 31 In addition to healthy demand for the program, Quinnipiac s program advisor reports that those who have enrolled have seen gratifying levels of success: 32 The average first semester GPA for students was 3.7; Students in the program make up over 75 percent of the top 25 students (ranked by GPA) ; Program participants have been very highly engaged with the program and beyond, with several assuming leadership positions in almost every School of Business club and student organizations. Experiential Learning: The program itself has a global dimension, and features opportunities for international experiences in several countries. One program in particular is the Nicaragua Micro Loan Experience, in which students spend ten days in Nicaragua working within a business consulting and microloan program in which both undergraduate and graduate business students participate. The undergraduate students typically act as consultants, whereas the graduate students (those in their final year) work as analysts/loan officers for the purpose of recommending loans to local small businesses from the Quinnipiac University microloan fund. 33 The program also provides a number of additional supports and incentives for students in the program, such as: 34 The option to share housing with fellow students in the program (guaranteed fouryear housing); A private study lounge in that residence hall; A dedicated residence assistant on site to support students; A dedicated academic advisor; A special mentorship program; Scholarship and honors program options. 31 Dr. Sean Reid. Dean and Associate Professor of Finance. Quinnipiac University School of Business. correspondence. May 7, Ibid FAQs. Quinnipiac University. Op. cit. 34 Ibid Hanover Research Academy Administration Practice 11

12 Career Support Services: Quinnipiac s School of Business and Engineering, which hosts the BS/MBA program, maintains its own career services office with a staff of three, including a dedicated career advisor for graduate students. 35 The business school s career services office provides a full range of resources, including four annual career fairs, coordination of employers on campus recruiting, and career development assistance such as resume writing and interview skills training. 36 Tuition: The program charges a flat rate of $24,600 per semester, or $49,200 per year although it is important to note that this figure includes housing costs as well. Curriculum: The coursework required for the BS/MBA is shown in Figure 7, including electives in the major field. Figure 7: BS/MBA Degree Coursework, Quinnipiac University YEAR FALL SPRING Year One Year Two Year Three U101 The Individual in the Community (3) EN102 Elements of Composition II (3) EN101 Elements of Composition I (3) EC271 Applied Statistical Methods (3) MA118 Introductory Calculus (3) CIS101 Principles of Information Tech (3) EC111 Principles of Microeconomics (3) AC211 Financial Accounting (3) SB101 The Business Environment (3) SB211 Business Communications (1) SB111 Personal Effectiveness (1) EC112 Principles of Macroeconomics (3) LW121 Business Law & Society (3) Humanities (3) Total Credits Fall Year 1: 19 Total Credits Spring Year 1: 19 Summer Year 1: UC Core Elective (3) U201 National Community (3) IB201 International Business (3) AC212 Managerial Accounting (3) Humanities (3) FIN201 Fundamentals of Fin. Mgmt (3) MG210 Essentials of Mgmt & Org Behav. (3) MG211 Operations Management (3) SB112 Career Planning & Development (1) MK201 Marketing Principles (3) Fine Arts (3) SB212 Ethics & Diversity (1) Major Course (3) Open Elective (3) Major Course (3) Total Credits Fall Year 2: 19 Total Credits Spring Year 2: 19 Summer Year 2: Internship (3) & QU 301 Global Community (3) Major Course (3) Major Course (3) Major Course (3) Major Course (3) Major Course (3) Major Course (3) Science (3) Graduate Course (FIN 600) (3) Science (3) Graduate Course (MG 610) (3) Science Lab (1) SB450H Honors Business Capstone Course (3) Graduate Course (MBA 600/MBA 605) (4) Total Credits Fall Year 3: 20 Total Credits Spring Year 3: 18 Winter Year 3: SB360 Nicaragua Micro Loan Experience (3) Summer Year 3: Internship 1 & 2: 3 credits each (total of 6 credits) 35 Contacts. Quinnipiac University. schools anddepartments/school of business and engineering/careers/contacts/ 36 Resources. Quinnipiac University. schools anddepartments/school of business and engineering/careers/resources/ 2013 Hanover Research Academy Administration Practice 12

13 YEAR FALL SPRING AC600 Strategic Cost & Profitability Analysis MG600 Business Ethics & Legal (3) Environment (3) MBA610 Business Decision Making (3) IB600 Managing in a Global Economy (3) CIS600 Information Systems Strategy (3) MG690 Strategic Management (3) Year Four MK600 Managing Customers & Markets (3) EC600 Econ for Business Decision Making (3) Elective (3) Winter or Summer Year 4: International Experience (3) Source: Quinnipiac University 37 Notes: Program of study may vary depending on AP or other college level credits; continuation requires maintenance of 3.0 GPA and 3.25 GPA to begin MBA courses. ANTIOCH UNIVERSITY MBA IN SUSTAINABILITY Overview: Antioch University offers its MBA in Sustainability program in three different tracks: an accelerated, one year program; a weekend, two year program; and a hybrid, parttime three year program. 38 The accelerated program meets on weekdays and weekends and begins in the fall. Focusing on sustainability throughout, the curriculum interweaves environmental science, leadership, finance, economics, team development, and marketing. The program has been available to students for the last three years. Student Demand: Antioch s MBA program director indicates that the program averages eight to ten students at any given time, most of whom are younger. The university s experiences with students has revealed that students attracted to this model learn best in chunks, so [they] have used a block schedule where students take 1 3 classes at a time instead of 5 6. Some classes are a semester long, some are six weeks. However, the program director also cautioned that some students can be attracted to the accelerated model for the wrong reasons, and suggested that if an accelerated program can be presented as a preference in learning style rather than the fastest way to get an MBA done, you get a stronger pool of students. This is because those students who apply just because they want to do it fast, don't usually have the stamina for the intensity. 39 Experiential Learning: Antioch relies on a cohort approach to learning in the program, which takes advantage of small class sizes and organizing small groups of 3 5 students that focus on developing leadership, facilitation, and group management skills. 40 They are also required to work in a consulting capacity on projects with local businesses: 41 Each MBA student will serve on at least one consulting team in his or her academic classes. Students will be assigned to work with a business that is facing a 37 Dr. Sean Reid. Dean and Associate Professor of Finance. Quinnipiac University School of Business. correspondence. May 7, MBA in Sustainability (Green MBA). Antioch University. mba/ 39 Pauline Chandler. Associate Professor, Chair of the Department of Management, and Director of the MBA program. Antioch University. correspondence. May 8, About the MBA in Sustainability: The Cohort Approach. Antioch University. 41 Ibid Hanover Research Academy Administration Practice 13

14 sustainability challenge. Teams of students research and problem solve sustainable solutions that serve the needs of the client business. Consulting teams have designed profitable, sustainable solutions for a variety of organizations. These consulting projects are integral to the program at Antioch, and help to meet the learning goals of the course while integrating professional academic experiences. 42 Students work on numerous consulting projects throughout their time in the program, often including them on their resumes. In addition, the program director indicates that Antioch has implemented a learning journey program that is a two day intensive field trip where (students) tour businesses with a sustainability focus. It has been incredibly well received. 43 This appears to be part of Antioch s Field Studies component, which is based on the premise that understanding ecological systems and business systems is a key component to developing an expertise in sustainability. 44 Field studies take the form of field trips, learning journeys, and opportunities for international study. 45 Field studies require students to visit organizations and reflect on the importance of sustainability to that organization. These can last for an afternoon, several days, or even longer and often involve bringing students from several different universities together. 46 In addition to the consulting projects and the field studies, Antioch students are also required to complete practicum work, which requires that students research and identify a project and use project management tools to demonstrate their learning and evolving expertise. 47 The program director indicates that the practicum process [ ] allows students to design a deep dive into a project that they want to develop more expertise [in]. More formalized internship opportunities, however, have remained elusive for the time being: 48 We would love to have an internship program associated with this as so many of the students need work experience. This is a goal, but hard to fit in one year. So, we have started doing career development right from the start encouraging students to view their career steps as network building. While the program website does present a number of companies that have served as clients for student consultants, including Cabot Cheese, Stonewall Farm, and C&S Wholesale Grocers (among others), it is not immediately clear if these represent relationships negotiated by the university or chosen by the students. 42 Student Consulting Projects. Antioch University. sustainability/groupproject/ 43 Pauline Chandler. Op. cit. 44 Field Studies. Antioch University. sustainability/fieldstudies/ 45 Ibid. 46 Ibid. 47 Practicum Projects by MBA Students. Antioch University. 48 Pauline Chandler, Op. cit Hanover Research Academy Administration Practice 14

15 Career Support Services: Antioch University supports MBA students in developing a wide range of career development skills. In addition to networking events and other more traditional services, each student is appointed a faculty advisor to assist them with career development, as well as their practicum projects. There are also career development modules available to students that are designed to coincide with the planning and implementation phases of a student s Practicum project. 49 Tuition: The current tuition rate for the MBA in Sustainability is $32,040 per year. 50 Curriculum: As suggested, the coursework for the MBA in Sustainability blends a wide variety of subjects, including environmental and ecological studies. The practicum counts for three credit hours, while the consulting projects are built into two courses: Marketing and Communications Strategy and Earth Systems in Organizations. 51 In addition, students must have already taken introductory courses in accounting and microeconomics, and be demonstrably proficient with Excel. 52 Figure 8: Coursework for the MBA in Sustainability program at Antioch University SEMESTER COURSE TITLE CREDIT HOURS Introduction to Sustainability 3 Teamwork and Diversity 3 Fall Marketing & Communication Strategy 3 Supply Chain 3 Finance I 3 Earth Systems in Organizations 3 Developing Human Resources 3 Spring Ecological Economics for Social Entrepreneurs 3 Leadership, Ethics and Leading Change 3 Finance II 3 Summer Integrative Strategic Management 3 Practicum 3 Total Credit Hours 36 Source: Antioch University Career Development. Antioch University. sustainability/careerdev/ 50 Tuition and Fees. Antioch University. fees/ 51 Student Consulting Projects. Op. cit. 52 MBA Prerequisites. Antioch University. sustainability/prerequisites/ 53 Course Sequence Accelerated Program. Antioch University Hanover Research Academy Administration Practice 15

16 PROJECT EVALUATION FORM Hanover Research is committed to providing a work product that meets or exceeds client expectations. In keeping with that goal, we would like to hear your opinions regarding our reports. Feedback is critically important and serves as the strongest mechanism by which we tailor our research to your organization. When you have had a chance to evaluate this report, please take a moment to fill out the following questionnaire. CAVEAT The publisher and authors have used their best efforts in preparing this brief. The publisher and authors make no representations or warranties with respect to the accuracy or completeness of the contents of this brief and specifically disclaim any implied warranties of fitness for a particular purpose. There are no warranties which extend beyond the descriptions contained in this paragraph. No warranty may be created or extended by representatives of Hanover Research or its marketing materials. The accuracy and completeness of the information provided herein and the opinions stated herein are not guaranteed or warranted to produce any particular results, and the advice and strategies contained herein may not be suitable for every client. Neither the publisher nor the authors shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages. Moreover, Hanover Research is not engaged in rendering legal, accounting, or other professional services. Clients requiring such services are advised to consult an appropriate professional Hanover Research Academy Administration Practice 16

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