Join the Masters of Business Education

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1 october 2010 Corporate Showcase Join the Masters of Business Education Sculpting global leaders

2 Sculpting global leaders What sets a business school apart? What are the attributes that allow it to provide its students with an education that launches them into a league of their own? What do the best business schools in the world offer that others do not? In an increasingly competitive global business environment these are questions that we at Wits Business School spend a great deal of time contemplating. Our greatness will be measured by the business success of our students, and while we have a 40 year history of recognised excellence, we remain acutely aware of the fact that what got us to where we are today will not necessarily take us to where we need to be in the future. The world of business is changing rapidly and the best business schools will be those that not only keep up with this change, but lead it. Only through a combination of cutting-edge research, academic excellence and global relevance will they be able to provide their students with the tools needed to excel in the business world of tomorrow. This is why Wits Business School has focused increasingly on internationalisation on its standards, its programmes and its approach. Global Best Practice Our vision commits us not just to sculpting leaders, but to sculpting global leaders those who will be able to compete on the world stage of business, and find themselves among peers in the company of graduates from the best business schools across the globe. To achieve this, they need an education that is on a par with that offered by the most prestigious institutions. With this in mind, we have embarked on an aggressive drive to align ourselves with global best practice, gaining accreditation and recognition with the European Quality Improvement System (Equis), the Association of MBAs (AMBA). We are the only business school in South Africa that is associated with the Partnership in International Management (PIM), a consortium of leading international business schools. Each member institution represents the highest degree of excellence in the fields of business administration and management, demonstrates leadership in their geographic region and delivers an MBA or a graduate-equivalent degree in management. PIM facilitates the development of international cooperation among members, fostering the development of joint programmes, students and faculty exchange, joint research and cooperation among faculty members and researchers. In addition, we have raised the minimum qualification of all academic staff to the PhD level, and are 70% of the way to meeting this target. We also recognise that, while internationallyaligned teaching standards and course content are vital, nothing can replace real-life exposure to the international business context. This is why we offer our MBA students the opportunity to take part in a global exchange programme, established as a result of the close ties we have forged with some 40 of the most highly regarded business schools in the world. These include, among many others, Harvard Business School and the London School of Business. The feedback received from students who have done electives at these partner institutions has been most pleasing. They report that their education here has equipped them well for the rigour and demands of the academic programmes overseas. We receive similar reports from the international students who find a comparable standard of education at WBS when they join our classes as part of the exchange programme. Local Focus While we have focused on this drive towards internationally-aligned excellence we have nevertheless remained cognisant of the importance of retaining local context. Our geographical position places us in the centre of Africa s emerging market business hub. As the world turns its eyes to the business opportunities so abundant in emerging markets like ours, we appreciate the importance of producing graduates who have a comprehensive understanding of the unique drivers behind local and other emerging market economics. We make extensive use of the Harvard Business School case method of teaching, in which many of our lecturers are trained at the Harvard campus in Boston. But, while the teaching method is adopted, we make use of our own, local, internally-generated business case studies. WBS is the only business school in the country with its own dedicated case centre, where case studies on examples of local business success and failure are researched and written up. These provide lecturers and students with a rich, locally-relevant knowledge base. Indeed, WBS case studies are so highly regarded that they are purchased by academic and educational schools all over the world. As we prepare for the new academic year in 2011, we will continue to seek out innovative and creative ways to ensure our students receive an educational experience that provides them with the foundations for greatness. We encourage you to join us. Dr Wendy Ngoma Acting Head of School Wits Business School THE WBS MASTER OF BUSINESS ADMINISTRATION (MBA) Wits Business School is recognised as one of the leading business schools in Africa. Our MBA programme is designed to provide students with a real competitive edge in the job market, and to give them the knowledge, skills and confidence to embark upon their own business ventures. Our accolades include being one of the few business schools in the country to be accredited internationally by the Association of MBAs (AMBA), and one of only two in Africa to be invited to become a member of the US-based Graduate Management Admissions Council (GMAC). Our MBA has consistently been rated the best in the country, our graduates are highly employable and we are proud to list some of South Africa s top businesspeople among our alumni. But, however pleasing these historical accolades, we are always aware of the need to look forward and refine the programme so that it remains relevant and continues to meet the changing needs of business and society. Continuous Improvement This drive towards continuous improvement saw the WBS MBA being updated and streamlined in Core courses have been consolidated and important new ones added in response to the changing world of business and the market needs highlighted by our research. These include courses on International Business; Ethics, Sustainability and Corporate Governance; and Leadership. Recognising the need for flexibility, we ve also included more electives to allow students to tailor the degree to meet their specific career objectives. The introduction of a Saturday Part-Time MBA means students can attend all the lectures for their two courses on a Saturday, an important consideration for those who are working full-time. A Winning Curriculum & Leading Lecturers The teaching staff and course content are critical elements of a winning MBA programme. WBS MBA lecturers are selected based on their academic stature, research output, business experience and ability to impart knowledge to a student body renowned for being challenging and demanding. We regularly invite internationallyrenowned guest lecturers and experts to deliver MBA lectures. WBS makes extensive use of the case method approach to teaching. Based on the method developed at Harvard Business School, where many of our MBA lecturers get first-hand training in this style of teaching, the case method draws on real-life case studies of business success and failure. It requires active student participation and encourages debate and sharing of ideas. We make use of the locally-relevant case studies compiled by the Wits Business School Case Centre, the only one of its kind in the country. The MBA curriculum comprises attendance courses, core courses and electives and students are required to complete a research report. Personal Growth & Networking Exposure to real-life business situations, international business practices and a global network make for a rich and well-rounded educational experience. WBS has negotiated two-month internships at top organisations for our full-time MBA students, providing them with the opportunity to integrate their academic learning with real work experience. The internship is also a good opportunity to develop contacts in the world of business and many of our graduates go on to find employment in the companies in which they were interns. WBS also boasts the most extensive student exchange programme in Africa. As a member of the Programme in International Management (PIM), we ve developed relationships with a network of over 50 of the world s leading business academic institutions, and have reciprocal exchanges with ten, carefully selected schools. This provides WBS students with the opportunity to take electives at overseas institutions, while MBA classes at home are enriched by the input from international students visiting us on exchange. In addition, students can select an international study tour as one of their electives, through which they will be exposed to the economies and leading organisations of the countries visited. Admission Requirements n Bachelor's or higher degree. n Students with relevant business experience and higher than average performance on the Postgraduate Diploma in Management (PDM) may also apply. n Post-university work experience of 3 years (full-time students) or 4 years (part-time students). n Acceptable Graduate Management Admission Test (GMAT) score. n Motivation and referee reports. n Maths competence equivalent to the requirements of the South African National Senior Certificate. The Centre for Entrepreneurship (CfE) The Centre for Entrepreneurship (CfE) is an integral part of the University of the Witwatersrand s Business School. Through a range of clearly focused short course programmes, backed by a formidable support network, and research activities in this vital field, the centre is actively developing the role of entrepreneurship in the domestic economy. The centre currently offers a range of certificate programmes that complete the entrepreneurial cycle from conception, through start-up to emerging sustainability and growing venture. Our goal is to encourage the establishment of new ventures and to nurture the growth of existing ventures in such a way that wealth is created for individuals and the communities in which they live and work. For more information on CfE, visit Dr Kerrin Myres, Director of The Centre for Entrepreneurship 2 entrepreneur corporate showcase october

3 Master of Management in Entrepreneurship and New Venture Creation (MMENVC) In response to demands for specialised knowledge in entrepreneurship, there is a growing global trend of business schools offering qualifications that focus on this field of business. WBS s recently-introduced Master of Management in Entrepreneurship and New Venture Creation (MMENVC) is designed to provide students with higher-level entrepreneurial knowledge, and to help them realise their entrepreneurial potential. While countless educational courses exist on the nuts and bolts of managing a small business, the MMENVC focuses specifically on the creation of enterprises, says Prof Boris Urban, Programme Director and WBS Chair in Entrepreneurship (Lamberti Foundation). The curriculum includes courses not offered in South Africa before, and comprises Entrepreneurship Theory and Practice, Corporate Intrapreneurship, Enterprise Development, Global Entrepreneurship, Social Entrepreneurship, Technology Entrepreneurship, and several intensely focused Research Methodology courses. The programme runs full-time, which has allowed the two-year course content to be condensed into a period of 14 months. Students complete the fundamental and core courses during the first half of the year, while the second half is dedicated to the completion of a research report. Because it provides higher-level knowledge, it s ideally suited to people who have successfully seen their entrepreneurial business through the venture stage and who now want to take it to the next level. In 2010, the first year in which the course was offered, students included ex-ceos, existing entrepreneurs, educators, consultants and SMME advisors. Our first intake of students have found the course very rigorous. The academic content and significant body of knowledge available dispel the myth that entrepreneurs MASTER OF MANAGEMENT IN FINANCE AND INVESTMENT (MMFI) TThe Master of Management in Finance and Investment (MMFI) was introduced by WBS a year ago in response to increasing demand from the industry for people who are specialists in the field of finance. In particular, the programme is designed to meet the need for such specialists in the emerging market context. The global financial crisis makes the case for why emerging markets must acquire the requisite capacity needed to understand the workings of financial markets, how to leverage their opportunities, and how to anticipate and mitigate their systemic threats, says Prof Kalu Ojah, Director of the MMFI. The MMFI is a post-graduate degree best suited to people who want to pursue careers in specific areas of finance. In addition to individuals working in the field of finance, the programme also takes in those with degrees in a host of other disciplines, including engineering, mathematics, law and statistics. Finance is not only about numbers. Financial specialists are needed in all areas of business and across different sectors, which is why the programme accommodates people from other disciplines who don t necessarily have training in economics, says Prof Ojah. Students can choose their electives from these three channels: Corporate Finance Stream, Banking and Capital Markets Stream, and Investments and Financial Engineering Stream. The MMFI includes four core courses, (Corporate Finance and Financial Statement Analysis, Investments, Finance Macro-environment Analysis and Applied Financial Econometrics), four electives and a thesis. Admission Requirements n Undergrad degree in business, economics, Prof Boris Urban, Programme Director & WBS Chair in Entrepreneurship are uneducated and make things up as they go along. The world s most successful entrepreneurs are usually educated people with extensive business knowledge and experience, says Prof Urban. Learning mimics an entrepreneurial environment, where integration takes place between theory and practice in the context of experiential learning through the Centre of Entrepreneurship, in terms of outreach programmes and through live case study teachings. Prof Kalu Ojah, Director of the MMFI engineering, mathematics, statistics or law. n Work experience is a plus, but not required. n Individuals with limited numeracy will need additional mathematics training. Presenting A World First: Master of Management in Innovation Studies (MMIS) In January 2011, Wits business school launches the first Master's programme in Innovation Studies, with a developing country focus, in the world. The Master of Management in Innovation Studies (MMIS) is an interdisciplinary programme that engages with an investigation of how innovation and its impact on economic growth and development can be shaped for the achievement of broad societal goals. It is acknowledged that economic growth and development are driven by innovation and this in turn affects all sectors of a society. This programme will contribute to creating a generation of policy makers, scholars, and business leaders who have an understanding of the drivers of innovation and a concern for equitable, human-centred development. The MMIS programme draws on disciplinary traditions in management, public policy, humanities, social sciences, and natural sciences. It is in this breadth of knowledge that the graduates will require to skillfully engage in shaping innovation for development. Who Will Benefit The programme was developed by Prof Gillian Marcelle and is designed for individuals with relevant undergraduate degrees (such as business, economics, social sciences, natural sciences, engineering and law) who intend to pursue careers in specific areas of innovation management or innovation policy in business, academia, development institutions or other civil society organisations. It may also be attractive to mid-level career professionals who are working within agencies responsible for developing and executing innovation policy and programmes at municipalities, regional or national level. The programme comprised three parts: core courses, elective courses and a research component. The courses and research components are equally weighed. Master of Management in Business Executive Coaching (MMBEC) The growing global importance of business and executive coaching and the continuing growth of this field as a choice of career mean that students and stakeholders require an accredited university qualification, in line with best practice and internationally recognised standards. This degree in coaching at the masters level is aligned to the Graduate School Alliance for Executive Coaching (GSAEC) framework for Coaching Qualifications at University Level. Why This Programme The rationale for introducing this curriculum is to respond to the global growth of the Coaching Industry over the last five years. The Coaching Industry has grown rapidly in the last five years. The Chartered Institute of Personnel and Development in UK (Cipd, 2006, p2) report that 79% of survey respondents are using coaching within their organisation and that 77% say coaching has been increasing in recent years. The coaching industry has reached an important point in its maturation and there is a need for coaches to ground their practice in solid theoretical understanding and empirically tested models (Grant and Cavanagh, 2004), therefore the need to launch this masters degree in January This curriculum will equip people to operate as Business and Executive coaches, within organisations and in private practice. There is a need to offer a professional masters qualification grounded in ethical practice and aligned with agreed international standards, as the majority of people wanting to become coaches are already in possession of undergraduate degrees, from a variety of disciplines. Prof Gillian Marcelle Prof Strategy & Innovation Natalie Cunningham, Research Fellow and Convenor for MMBEC & BECC This is a two year part time programme covering four core modules per year. On this programme students are required to attend lectures for one week every quarter. 4 entrepreneur corporate showcase october

4 the Leadership Development Centre The Leadership Development Centre at Wits Business School specialises in the design and delivery of in-company programmes aimed at developing personal leadership capacity. on key corporate challenges being experienced by clients, all our programmes are customised to meet Focusing the specific leadership development objectives of the organisation concerned, explains Prof Drikus Kriek, Director of the centre. The Leadership Development Centre draws on proven theory and practice to help delegates develop desired, relevant and specific competencies in line with the strategy and culture of their company. Multiple modes of learning are employed to provide students with a rich educational experience. They include formal classroom training and discussion, psychometric assessments, coaching and mentoring, digital tools and experiential learning undertaken within the work context. The flagship Certificate Programmes, all of which are aligned with the National Qualifications Framework, include Leadership Development (CPLD), Management Development (CPMD) and the newly introduced Fast-Track Leadership Development Programme. Other courses include the Talent Management Workshop, Personal Effectiveness through Emotional Intelligence and the Business Executive Coaching Certificate. Cutting-Edge Thinking The Leadership Development Centre works closely with WBS flagship International Executive Development Programme as we view networking as a key component of customising our programmes, says Prof Kriek. This further exposes delegates to cutting-edge international thinking and best practice regarding leadership. Prof Drikus Kriek, Director of The Leadership Development Centre Fees & Admissions Fees and admission requirements differ depending on the programme or certificate course concerned. Participants are selected on the basis of their management track record and commitment to career development. In some instances, tertiary level academic qualifications are preferable. Executive Education at WbS Executive Education courses that are relevant to corporate organisations, SME owners and people working in NGOs and government. According to Sid Mpofu, Director: Executive Education at WBS: South African business faces a serious skills shortage and academic institutions have an important role to play in helping them to fill the knowledge gaps that exist. The Executive Education centre targets junior and middle managers as well as senior executives, offering an extensive range of short and certificate courses that run for anything between three days and nine months. The centre runs over 40 different courses in finance, general management, marketing, human resources and specialised topics such as BBBEE, supply chain management, project management and innovation. Senior executive programmes include the dynamic African Leadership Programme and the WBS International Executive Development Programme, both of which incorporate overseas visits or international study tours. Our flagship programme is the Management Advancement Programme (MAP), which gives managers a broad exposure to the fundamental nature and processes of management and human behaviour within organisations, says Mpofu. Flexible Programmes MAP is among WBS s most popular programmes, and is suitable for individuals who may be currently managing specialised areas such as marketing, finance or human resources, but who wish to make the transition to a more generalised managerial function that requires an holistic view of business. MAP students typically include ambitious middle managers who wish to climb up the managerial ladder. In addition to the public MAP courses developed and run by Executive Education, corporate MAP courses can be tailored specifically to meet an organisation s needs. In order to remain relevant to the changing Sid Mpofu, Director: Executive Education at Wits Business School world of business, WBS Executive Education continually adapts its courses and offerings in line with market trends. All of our courses have been developed in response to direct needs in the market, which are brought to our attention either by companies themselves or through WBS ongoing research into various aspects of business, Mpofu explains.

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