Proposal for a Master of Science in Global Commerce Degree Program

Transcription

1 Proposal for a Master of Science in Global Commerce Degree Program We wish to establish an University on a plan so broad & liberal & modern, as to be a temptation to the youth of other states to come, and drink of the cup of knowledge & fraternize with us. Thomas Jefferson, January 1800 The University will develop a full range of innovative educational experiences that unite the curricular, the co-curricular, and the extracurricular into a coherent and powerful educational experience. University of Virginia Cornerstone Plan, November Announce the new degree program and provide a brief justification affirming its academic quality and identifying the gap it will fill, the population it will serve and the advantages it will provide. (This information may overlap with Description of Proposed Program and Justification on the SCHEV proposal template.) The third of the five pillars of the University of Virginia s 2013 Cornerstone Plan 1 reads as follows: Provide Educational Experiences That Deliver New Levels of Student Engagement. The strategies embedded within this pillar call for the creation of high-impact student experiences, as well as the establishment of global programs that systematically foster international knowledge and cross-cultural understanding. It is with the spirit of innovation and global outreach espoused by the Cornerstone Plan that the McIntire School of Commerce proposes to establish a Master of Science in Global Commerce (MSGC). The MSGC will be a 40 credit-hour degree program provided to pre-work experience students by the McIntire School in partnership with two esteemed non-u.s. business schools. The program s aim is to provide a high-impact experience that will prepare recent college graduates recruited from the Americas, Europe, and Asia to excel in an increasingly complex and dynamic global economy. Annual cohorts of approximately 60 students (20 students recruited by each partner school) will live, study, and travel together throughout the 10-month program. Beginning in fall 2016, students will spend 15 weeks at McIntire, will then study at Lingnan (University) College at SunYat-Sen University in Guangzhou, Guangdong Province, China for nine weeks beginning in January, and will conclude the program with 15 weeks of study at ESADE Business School in Barcelona, graduating in June The experience will be highly integrative, with all curricular, capstone, thesis, residential, and student life experiences coordinated by the three partner schools. 1

2 2. Identify key directives, frame them within the University s educational mission, and outline the main aspects of curricular design. In addition, discuss whether and how other populations (e.g., existing academic departments and programs, community members, undergraduate extracurricular groups, graduate student instructors) will be affected by the new degree. (SCHEV = Mission ) Program Mission and Learning Outcomes Focus on Global Competencies The mission of the MS in Global Commerce program is to develop future managers who will add value through their ability to skillfully respond to complex opportunities and challenges facing firms globally, and their ability to work effectively in international settings and crosscultural teams. Through the cohort structure and regional residencies, MSGC students will develop not only their analytical and technical abilities, but their adaptability, global and regional knowledge, and cross-cultural and managerial communication skills. The program will unite the curricular, the co-curricular, and the extracurricular in a coherent academic and personal experience that reflects the best practices in graduate global business education. In terms of learning outcomes, graduates of the MSGC program should be able to demonstrate their ability to: Identify business opportunities and risks in both a regional and global context Design and implement regionally appropriate strategies and business plans Work effectively on cross-cultural teams and in international settings Demonstrate communication and cultural competencies needed to be effective managers and leaders Move with skill between American, Chinese, and European business environments Immediately add value to organizations through the application of strong analytical skills enhanced by a broad global perspective Business educators and business school accreditors recognize that the global nature of business in the 21 st century requires managers and future leaders who understand and can manage complexity, ambiguity, and rapid change. As the foreword to a 2011 report 2 issued by a task force of the Association to Advance Collegiate Schools of Business (AACSB) notes, today s work environment demands students who are prepared to implement global strategy and who possess international experience, cultural awareness, and the ability to work in cross-cultural environments. The AACSB study goes on to state that the recent spectacular wave of globalization has created a significant demand for administrative talent educated in the challenges and opportunities of globalization. The AACSB report calls on business schools to engage in innovative programs that enhance and develop business education globally. Whereas at one time only national systems of business education existed, business schools today are components of a global system, producing students who may one day work together as colleagues or clients on different sides of the globe. As members of this system, business schools have a collective responsibility to help elevate the 2 reports/aacsb%20globalization%20of%20management%20education%20task%20force%20report%20- % ashx

3 quality of business education across the globe. International partnerships that support synergies between schools, benchmarking, and institutional development have the potential to contribute to the global growth of quality management education. A similar mandate is contained in a 2010 report, Higher Education, Globalization and Economic Development in Virginia, 3 released by the State Council of Higher Education for Virginia (SCHEV), Internationalization efforts are one product of higher education s recognition of its responsibility to graduate globally competent citizens and to meet the acknowledged educational needs for the 21st Century. Rather than a term with one universally agreed-upon definition, global competence is a concept that has been collaboratively devised by education and business professionals. It is used to embody the knowledge, skills, and abilities today s graduates need to function effectively in a globally interdependent society. It commonly refers to a need for cultural understanding and awareness and an ability to interact with people from different backgrounds. The Virginia report adds, Developing global competency is not a definitive goal, rather an ongoing process that includes: frequent interaction and exchange with people from other cultures, up-to-date knowledge of world events, exposure to current research and regular use of intercultural communication skills. The proposed M.S. in Global Commerce will immerse students in three distinct learning and cultural environments, which will require students to manage (with support) the related challenges and stresses. It is envisioned that the experience of living, studying, and meeting rigorous academic demands in cross-cultural teams will develop global competencies and create a tightly-knit global network of young business professionals. 3. Provide a fine-grained account of the curriculum, describing the required and elective courses and the path to degree completion. Assess the level of flexibility in the curriculum (that is, the ratio of requirements to electives, as well as any stipulation as to the sequence for courses or projects) and weigh its advantages against its disadvantages. Specify learning outcomes. Outline a student advising structure and specify the goals of this advising. Tabulate tuition and its components. In an appendix, include detailed course descriptions and syllabi, especially for required courses. In another appendix, clarify the student experience by providing a representative array of complete, semester-by-semester pathways to the degree. (SCHEV = elements of Curriculum ) Curriculum Design Involves Required Course Sequence Given the cohort nature of the MSGC program, students will by design follow a required sequence of courses at each of the three partner schools. (Please Appendix 1 for a curriculum outline). Faculty from the three schools have held face-to-face and videoconference planning meetings to design a coherent curriculum that offers each school s and each region s particular expertise and cultural perspective. The MSGC program will be divided into three terms, with one academic module taking place at each partner school and region. All classroom instruction will be delivered in English. The first term, to be offered at UVA during the fall semester, is designed as an exploration of the global business environment as well as the particular characteristics of doing business in the United 3

4 States. This term will include topics such as foundations of global commerce, international finance, global strategy, cross-cultural business skills, and research and decision-making. Students will interact with global and U.S. business leaders as part of a Doing Business in the United States course. The second term, offered in China from January into March, will provide an operations and emerging markets focus. During this nine-week term, students will study global operations and supply chains, marketing in emerging and developing markets, and creating and financing global ventures. Through a Doing Business in China course, students will continue their exploration of cross-cultural issues and will engage with business leaders in one of the world s most dynamic economies. The third term, offered in Europe from mid-march into June, will focus on global brand management, the European model of innovation, sustainability and corporate social responsibility, and cross-border mergers and acquisitions and alliances. Students will explore regional business and cross-cultural issues through a Doing Business in Europe course. In addition to the course work described above, all students will complete a capstone course/project at the conclusion of the McIntire and ESADE terms. The capstones are designed to synthesize learning and hone the student s teamwork and cross-cultural communication skills. Thesis will add rigor and connection across schools While students will follow a designed curriculum as a cohort, a required thesis will allow students a degree of latitude in their studies, in that they will be able to propose and develop a topic that reflects their particular interests. Students will begin the thesis process at McIntire, will continue their research in China, and will develop, write, and deliver an oral defense of their theses before combined faculty panels in Europe at the conclusion of the program. Defending a master s thesis in front of a tribunal is mandatory in Spain in order to obtain a master s degree. ESADE will lead the thesis process, and both ESADE and McIntire faculty will act as thesis advisors. Lingnan faculty will assist students with thesis research while in China. The academic directors at McIntire and ESADE will act as the primary faculty advisor for students and will be responsible for maintaining active communication with students and faculty at the two partner schools. Students will be required to use current communication technologies and platforms to report back to their academic advisors, in a manner similar to the reporting practices students will encounter when working in a globally dispersed workforce. An appointed thesis coordinator at ESADE will work with thesis advisers at the two degree-granting schools to coordinate oversight of thesis topics, the research process, and the successful development of required written and oral deliverables. Program Costs The tuition and fee costs for the MSGC will be tabulated as a graduate, market-rate tuition program, that will be strongly coordinated with participating partner schools. In addition to tuition charges, the overall cost of the program will include accommodation and program related

5 fees. The cohort based design of the program and academic benefits derived from students living and learning together has created a desire to house students together in either on-grounds or community located living situations. We will coordinate and charge the students directly for these living accommodations. The exact tuition and fee amounts have not yet been finalized. 4. Identify the types of students that will be attracted to this program, the educational or professional prospects that they will enjoy through it, and the data (both local and national, if possible) that suggest its potential appeal and success. Explain how the program title may enhance prospects of student enrollment, hiring, and graduate admission. In an appendix, provide ample testimony from potential students about their interest in enrolling in the program, and from potential employers and graduate program about their interest in students who hold the proposed degree. (SCHEV= Justification ) The MSGC program will admit recent college graduates who have undergraduate business degrees or, on special exception, closely related degrees, such as economics, that have significant business content. This premium master s program is expected to attract a cohort of quality students who desire to enhance their global understanding, further develop their analytical and technical skills, develop their cross-cultural and communication competencies, and have meaningful residential global experiences before entering the workplace. Given the innovative nature of this program, it should be acknowledged that there are unknowns about student recruitment, but both McIntire and ESADE have highly skilled and experienced recruitment and admissions teams. ESADE currently recruits in more than 50 countries for its portfolio of business programs. The admissions teams and academic directors have agreed on the following admissions criteria: GMAT minimum: 580 (or GRE equivalent) GMAT average: 650 TOEFL: 100 minimum Cambridge: Advanced In-person or videoconference interview mandatory It is expected and hoped that as the program matures and becomes known, undergraduate business students will include the MSGC program in their future plans early in their academic career, in a way that is similar to those undergraduates who plan early on to apply to McIntire s MS in Commerce program. Job Placement and Career Prospects The three schools Career Services staffs will work in combined efforts to manage the processes and services required to help students transition into the workplace. It has been agreed that there will be one Career Services calendar that will span the entire program. There is no question but that innovative global degree programs are entering new territory in terms of career services and job placement. As was the case when McIntire launched its MS in Commerce program, employers will need to be familiarized with the strengths of the graduates of the MSGC program. McIntire and ESADE leaders, who interact with employers across the globe, strongly believe there will be a demand for the graduates of this program. In addition, surveyed employers frequently state their interest in graduates with the skills that will be emphasized in the MSGC program. For example, a 2014 survey of nearly 600 employers conducted by the Graduate Management Admissions Council found that top skills desired of new hires were oral

6 and written communication skills, listening skills, adaptability, ability to value others opinions, and cross-cultural sensitivity. It is interesting to note that global commerce and cultural competencies increasingly may be required of younger managers as a result of (1) the significant generational shift occurring as Baby Boomers retire and the Millennial Generation comprises the majority of workers, (2) the flattened hierarchies of firms that seek to be more responsive and nimble due to global and innovation pressures, and (3) the proliferation of online work platforms and global communication capabilities. 5. Compare and contrast your program with similar programs both within the state and beyond it. Be as detailed as possible in your comparisons (curricular content and design, applicant type, application prerequisites, etc.). Specify the elements you wish to emulate and adopt from these competitors, the elements you wish to exclude, and the rationale behind these choices. (SCHEV = Duplication ) A Dual Degree Program McIntire and ESADE will each award a separate master s degree for the work completed across the three terms of the program. Lingnan will award all students a certificate. As noted in the AACSB globalization report mentioned above, Dual-degree programs (also known as double-degree programs) are also formed through a collaborative agreement between two or more institutions, yet the courses taken by the student count toward fulfillment of the requirements for two (or more) distinct degrees. Often, some (or all) of the credits taken at one institution also count toward the requirements for a degree from the other institution, and vice versa, meaning that such programs may only be slightly longer in length than a traditional, single degree program.collaborative degrees offer numerous opportunities for schools to create synergies between their own strengths and those of their partners In an international setting, such programs also provide opportunities for students to learn more about the business environment in another country as well as to actually be immersed in life in that country during the time spent there. In this way, collaborative degree programs are taking student exchange to the next level. The AACSB report notes: According to data published by the U.S.-based Council of Graduate Schools (CGS), a growing number of American graduate schools are moving to establish jointdegree or dual-degree programs with international universities. From August 2007 to August 2008, the percentage of all graduate schools (not discipline-specific) that reported at least one such degree or certificate program rose from 29 percent to 38 percent, while 31 percent reported plans to start a program in the following two years. Among all fields offered, business was the field in which joint- and dual-degree programs were most common, with 39 percent of CGS member schools reporting collaborative programs at the master s level in business (followed by engineering at 26 percent). The University s Office of the Provost has established a dual and joint degree review process. Currently, the University of Virginia has one dual degree program with an international external partner. Students enrolled at the University of Virginia School of Law may earn both the Juris Doctor (J.D.) and a Master's in Economic Law at the Institut d Etudes Politiques de Paris (Sciences Po).

7 An example of a dual-degree plus certificate program that is similar but not identical to McIntire s proposed program is the 3Continent Master in Global Management program offered by Antwerp Management School in Belgium, Fordham University in New York, and the Xavier Institute of Management in India. Like the proposed MSGC program, the 3Continent program is aimed at pre-work experience students. Unlike the MSGC program, the 3Continent program does not require undergraduate business degrees. 6. Identify those factors that are salient for the success of the program, such as: student achievement, faculty involvement, collaboration, and growth. Evaluation benchmarks and metrics might include data about the pool of applicants (size, credentials, provenance, acceptance rate), evaluation of the program by registered students, student performance during the program, student placement upon graduation. Articulate strategies for dealing with the four possible enrollment scenarios: over-demand, under-demand, demand with significant fluctuation, and initial bulge then decline. (SCHEV = Student Assessment & Program Assessment ) Quality Assurance and Assessment The program and curriculum will be consistent with the new AACSB business standards 8-11, which provide guidance on expected learning goals, content, and structure for graduate degrees. (The new standards were approved in April 2013). Quality assurance will be accomplished via standard assessment activities, those being direct assessment of student learning and indirect assessment of admission processes and controls, student exit surveys, employer surveys, etc. It will be important to ensure that students are taught by quality faculty in all locations and venues and that they have access to those faculty both while in their classes, but also when they are attending partner schools. This assurance will involve the exchange of faculty curricula vitae and syllabi, as well as student evaluations and campus visits. 7. Address planned or potential collaboration within and perhaps beyond the university. Highlight the use of digital content and delivery systems within the curriculum. Include here, at your discretion, other matters of importance not covered under the preceding rubrics. As noted, the MSGC will, by definition, be a program of collaboration beyond the university. In partnership with two highly esteemed non-u.s. business schools, the program will provide a high-impact experience that will prepare recent college graduates recruited from the Americas, Europe, and Asia to excel in an increasingly complex and dynamic global economy. Annual cohorts of approximately 60 students (20 students recruited by each partner school) will live, study, and travel together throughout the 10-month program. Students will spend the fall semester program at McIntire, will study at the Asia partner school for 10 weeks beginning in January, and will conclude their studies at the European partner school, graduating in June. The experience will be highly integrative, with all curricular, capstone, thesis, and student life experiences coordinated by the three partner schools. Conclusion The referenced AACSB globalization report notes that globalization of business education will often require more creativity and innovation.in more competitive and collaborative global environments, we see more pressures and opportunities to invent and implement new ideas.

8 The McIntire School of Commerce has consistently demonstrated both creativity and innovation in its educational offerings. The proposed MSGC program will allow the School to demonstrate both qualities on a broader global stage, to exchange and develop best practices with partners on two continents, and, most important, to create learning experiences that will help prepare students to skillfully respond to the complex global opportunities and challenges that will most certainly confront them in the years to come.