This past week marked an announcement that was truly groundbreaking. Howard Schultz, the CEO of Starbucks, informed the nation that all employees of his company would be eligible to attend college on the dime of Starbucks itself. Companies in the past have paid for schooling of certain members of their organizations but this is the first time that a company is willing to send any employee of the company to college.
globalEDGE Blog - By Tag: business-school
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Post graduation, previous students have to make a decision. Should they continue to educate themselves and receive a higher degree in order to make more money upon entering the workforce? Some select this option; however, in recent years the number of students immediately planning to do the opposite has increased, particularly in China. In regards to Chinese Business School grads alone, 76% plan on beginning their job search promptly after graduating.
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For as long as most people can remember, receiving a Master of Business Administration (MBA) degree has been the first step in becoming an entrepreneur and starting one’s own business. After gaining some significant prior work experience, an MBA degree candidate is expected to dedicate two academic years to taking courses structured around core business concepts. These programs are costly; the 2 year MBA degree at Harvard Business costs upwards of $56,175. And even with 65% of students receiving some form of financial aid, many are beginning to wonder: is the cost of education worth the risk of starting up a business that has a chance of failing?
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In a global economy marked by unemployment, it might be surprising to hear that one industry is actually booming with career opportunities. That industry happens to be Big Data and business analytics. By 2018, the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills. According to a McKinsey Global Institute report, the big data industry will also need over 1.5 million people in the next few years capable of analyzing data that enable business decisions. Global companies have begun the search for employees with complex skillsets and the ability to analyze large amounts of data. As you can see, big data is becoming ever so important for international business.
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Globalization can be seen in every crack and crevasse of the earth now that we can communicate globally at unprecedented speed. To be a thriving, growing business, most would argue that once you are well established in your domestic nation, the next logical plan is to take your business internationally.
There are many studies that point to the idea of globalization and how many cultures are mashing together into one as the world becomes more technologically advanced. While technology plays a large part in this, do younger generations have an impact on narrowing the cultural differences between two nations?
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According to Merriam Webster's Dictionary, ethics is the principles of conduct governing an individual or a group. This is an interpretive definition; it changes depending on culture, and that is why teaching ethics for a globalizing economy is rather difficult for current business schools.
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Although hiring of MBA graduates has suffered during the recent recession, it appears that the tides of good fortune are returning. As consulting firms, investment banks and other top employers commit to aggressive hiring targets, many graduates are gaining confidence in their ability to land an ideal position. While some of this wave may be attributable to an improving economy, innovative new outreach programs are also finding desirable jobs where they have never been found before.
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China is growing. India is growing. In fact, the whole of Asia is expanding rapidly - in population, economy, and technology. The latest area Asia is looking to improve upon is education. Countries like China and India are in the process of trying to establish themselves as leaders in the world of business education. They’re doing this by offering Western-trained business professors opportunities they wouldn’t be able to get normally.
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Check out this ranking of the top MBA programs outside the US, from BusinessWeek. Just in case you're curious, here are the contenders: