Vanderbilt Executive MBA

Memory Lane from the International trip with EMBA 2011

2011-10-28T15:05:00.012-05:00

Greg DeCapio EMBA 2011 stumbled across a recent article on the top tourist attractions in the world. Coming in at #10 in the list is the Grand Bazaar, visited by EMBA 2011 on their International Residency trip to Istanbul, after first spending several days in Budapest. Apparently Vanderbilt’s 50 students were among the 15 million others who visited the amazing Grand Bazaar-- the world’s oldest shopping mall! The complete article is at:

http://travel.yahoo.com/p-interests-40711683

Here are a few of our favorite pictures from our 2011 residency, which included visits with some amazing organizations, including:

In Budapest: Zwack, Coca Cola Hellenic, GE Lighting, Mattel and Brown Forman/Jack Daniel’s, Corvinus University School of Management, Renault, and sight-seeing on the beautiful Danube and the old palaces and churches of this gorgeous town.

In Istanbul: Koc Industries, Central bank of Turkey, Turk Telecom, various temples, and the Grand Bazaar.

Now, we are busy planning the EMBA 2012 trip to China for spring 2012. In preparation, the students are reading Market Entry Strategies by Christopher Lymbersky and and One Billion Customers by James McGregor.

Newest Executive MBA Class Recognized at Vanderbilt’s Owen Graduate School of Management

2011-07-29T16:19:00.010-05:00

Vanderbilt’s Owen Graduate School of Management on Saturday, July 23, recognized fifty students for completing the two-year Executive MBA program.

Vanderbilt Executive MBA students typically arrive with an average of 12 years of experience and represent a broad spectrum of backgrounds from mid- to senior-level corporate executive to entrepreneurs to professionals such as accountants, attorneys and physicians, to managers in technological or scientific fields. As William Thomas, an executive at Bridgestone Americas put it: “I arrived to be a better business man, but I’ve become a better person.”

Intense, real-world projects as part of “C-teams” allow EMBA students to immediately apply their classroom learning while working closely with their peers. The July 23 celebration provided an opportunity for each student to show appreciation for family, friends and employers who supported and encouraged them during the two-year journey to an MBA.

In all about 400 people were there to send our students out in style. Alex Nicholson, EMBA 2001, was the presenter and the lead donor among 8 alumni who contributed to give a Vanderbilt blazer to each member of the EMBA Class of 2011 to celebrate their joining the ranks of alumni. Other contributors included: Nancy Abbott EMBA ’91, Nelson Andrews EMBA 2001, Michael Blackburn EMBA 1994, Dr. Ravi Chari EMBA 08, Doug Howard EMBA ’85, Henry Lodge EMBA ’81, Kent Wood EMBA ’00, and MBA ’82 graduate Jon Caplan, as CEO Brand Group and President, Johnston & Murphy, for producing the blazers and a gift card from J&M. Don’t they look fantastic? Way to go EMBA 2011!

Aligning Strengths in our Market to Innovations in Programming

2011-07-08T19:17:00.002-05:00

Vanderbilt’s Americas MBA for Executives--a partnership with FIA in Brazil, ITAM in Mexico and Simon Fraser University in Canada--was our timely solution to a changing need by businesses we serve for executive education. These MNCs with strong ties to Nashville have a presence throughout the Americas. Two news pieces in the past 24 hours highlight the changing face of our business community:

1) Forbes just published an article listing Nashville, TN as the #3 expected growth city in the US. It mentions Nashville's growing Latino population and its pro business culture in general (which ties perfectly to the growth and entrepreneurial theme of Vanderbilt's host residency in the Americas MBA for Executives Program; namely courses in Innovations for Growth and Launching New Ventures for Growth and Sustainability—all of strong interest to our Americas cohort and partner schools. Further, Forbes wrote about Nashville: “The country music capital, with its low housing prices and pro-business environment, has experienced rapid growth in educated migrants, where it ranks an impressive fourth in terms of percentage growth. New ethnic groups, such as Latinos and Asians, have doubled in size over the past decade.”

2) The Nashville Business Journal just published an article with two quotes from corporate partners we serve—Bridgestone and Schneider Electric. The complete article is available at this link:

http://www.owen.vanderbilt.edu/vanderbilt/programs/americas-mba-for-executives/upload/NBJ-Americas-MBA.pdf

ROI and the Decision to Finance Your MBA

2011-06-30T22:59:00.004-05:00

When you are about to commit to financing an MBA, it may be hard to imagine how and when you’ll recover the cost. However, if you are a graduate from Vanderbilt’s Executive MBA Program, it may be harder to remember why you waited so long (12-14 years on average post college) to get started with the MBA and enjoy these substantial returns.

Consider these facts:
• While experiencing the worst of the recession, the Vanderbilt EMBA Class of 2010 graduated earning 20.3 percent more than pre-MBA. That is nearly double the increase for all EMBA programs (at 11.4% globally--still good, given the economy, and a great endorsement for the educational investment in general.)
• In recent Vanderbilt classes, the time to recoup the total cost was 1 year after graduation to less than 4 years.
• With these supporting facts, the average 50k school debt for EMBA 2010 graduates doesn’t look so daunting, since typical students have 20 or more years to enjoy increased earnings after completely recovering the cost of their MBA. When those Vanderbilt MBAs earn $28,500 more by graduation on average and take off from there, the gain is a million dollars or more in improved earnings over that 20-year period.

How long will you want to work and enjoy those returns? How long will you need to work with those kinds of returns? If your inclination is to work really hard and retire really well, consider the real return on education, not just the upfront cost of tuition.

And yet, the top reasons most of our students pursue an MBA are not financial, although they result in financial gain down the road. These reasons include ability to be more effective, versatile, valued, and promotable at work; ability to be agile in finding new employment; desire for hedges against uncertainty; and desire to remain competitive.

Planning to enroll this year? Now is a great time to fill out your FAFSA (if a US citizen) and consider the educational loan that can be your path to career agility, and, yes, a better income. Are you worth the investment? Need some reassurance? Call us at 615.322.3120.

When the Profs Become the Voices in Your Head…or On Your Car

2011-03-31T11:30:00.004-05:00

When learning foreign languages, you know you have achieved something when you awake realizing that you’ve been dreaming in that language. What have you achieved when, as an MBA graduate, you are channeling your professors and their advice?

I think it means you have achieved a few things. Perhaps it signifies you have achieved a nerd level that could cause eyes to roll. More importantly, it probably means that those faculty relationships and lessons were lasting and useful in how you think differently with the MBA.

Here is a story from last week, when I caught up with EMBA 2009 graduate Justin Calhoun, who is a financial advisor at Merrill Lynch in Memphis, helping ERISA administrators customize compliant DV/DB plans. In an information session, we were making the point that your faculty and class peers in the EMBA program become the voices in your head. Justin said he could underscore that point in an unusual way, and that he’d send me a picture of his car license plate. Here it is, and let’s see if you get it (answer at bottom, but don’t cheat!):

Justin is referring to the four fundamental components of a sustainable competitive advantage, which are:

Valuable
Rare
Inimitable
Organized

Next time you see Justin in Memphis, honk once if you remember VRIO and twice if you want him to stop and tell you how he uses this invaluable lesson from his strategy class at Vanderbilt to help his clients every day.

Making Time When There’s Limited Time for an MBA

2011-02-28T16:07:00.003-06:00

An alternative title to this piece could be: “If Getting an MBA Was Convenient, Everyone Would Have One.” One common truth for working executives, who still want an MBA, is that they may have put the decision off for years, waiting for the right time. Perhaps they now feel past the time when they should have taken the plunge. To them the “right time” is a panacea where time stops--when the job isn’t going to be so demanding, when the kids can take care of themselves (what a nice thought!), and when their volunteerism and community leadership take a vacation. They are right, and they are wrong.

Waiting for the Right Time versus Orchestrating the Time Candidates most attractive to our admissions committee for the Vanderbilt Executive MBA Program have certain things in common:
• They are at or approaching senior leadership, where problems get larger and more complex. A lull in activity at work isn’t going to happen. If it does, it may indicate you don’t have the skills to be successful with the next messy problem, and that education may be required for getting consideration beyond where you are stalled.
• They are leaders in their communities. If getting an MBA is something you aspire to, plan ahead. Wrap up standing commitments and terms of community service, and “unvolunteer” yourself temporarily, so that you can dedicate that time to school for up to two years.
• They know how to include their constituents in their decisions. This means both at work and at home. Helping your work associates to get excited about the new tools you can bring to the table with an MBA can maximize your ability to leverage what you will learn by creating open space for new ideas. Your spouse or partner must buy into the reality of the time you will need—about 20+ hours a week in the more demanding full-load EMBA programs—if you are going to be successful as a working student. Discuss how that might change your family dynamic.

The Real “Right’ Time—If the demands on your performance are about to escalate or have already escalated past the point of your personal comfort, it’s probably time to get serious about advancing your education. For executives, an MBA is timed best when the skills you have used to get where you are now will no longer get you through the next set of challenges. For most this means that:
• Functional prowess developed over one or more decades needs to be delegated to those junior to you; you need to stop doing and start leading.
• Cross-functional abilities need to guide you from viewing the world through your functional “safe” lens; you need new learning to cross those functional lines, and an executive classroom peer group can provide those other functional perspectives you need in a safe environment for experimenting with new skills.
• People skills will need to be at their peak.

If these sound like your challenges, then it’s the perfect time for an MBA. Consider EMBA or PMBA formats, and pay attention to the peer group that will push you the farthest from wherever you sit too comfortably now. Getting an MBA won’t be easy, but good time management and priority setting will go a long way.

Alumni Reflect at Preview Day on EMBA Program ROI from Classmate Network

2011-01-31T23:12:00.003-06:00

At the EMBA Preview Day January 22, several alumni participated in a Q&A with prospective students. Here are highlights related to networking and career, ROI and job transitions-- questions that are fair and not at all surprising in a still sluggish economy.

Question: You’ve talked a lot about what you learned from the program, but what about the value of your degree after graduation?
Len Jannaman, EMBA 07, Managing Director Lake Point Consulting (former DuPont lead of the safety consulting practice during his EMBA program) commented: ‘The contacts the school has are international and impressive. When I was still with DuPont, I got a $10M order resulting from coming to hear the CEO of US Airways [alum Doug Parker] talk as part of the Distinguished Speaker Series. Later when I went out on my own, I attended one of the business breakfasts hosted by Professor Germain Boer. That has since turned into leads for my consulting firm.”
Phil Frerking EMBA 06, Technical Manager Scepter Inc., shared that a classmate helped him when his industry went south, resulting in Phil finding a new job that brought him back from Maryland to the Nashville area where he wanted to be.
Jennifer Hutcheson, EMBA 07, VP Corporate Accounting and Tax at Gaylord explained that she was encouraged to do the program by her bosses who had MBAs from Vanderbilt. She was both promoted from director and given the added departmental responsibilities of the tax group since attending Owen.

Question: How many of your EMBA classmates went through job transitions during or after the EMBA program?
Other alumni panelists chimed in, namely Alan Hutcheson EMBA 07 OneAlbany Business Transformation Lead, Albany International whose role has grown leading global teams and projects; and Marshall Leslie, EMBA 2010, now promoted to VP Operations, Healthcare Performance Partners. The consensus was that you couldn’t be in a better place if you were in a job transition, planned or not.
The alumni who have been out of school 3-4 years estimated about ¾ of their classmates are in different roles than they were in during school, even if at the same company and less than half had changed companies 3-4 years out. (In fact, only about 20% have changed employers 3 years out, probably because the rate of promotion has been so high.)

2011-01-31T23:10:00.002-06:00

2011-01-31T23:10:00.001-06:00

Leadership Development: New Year’s Resolution Not to Shy Away from Difficult Conversations as a Manager

2010-12-31T11:38:00.003-06:00

As managers of people, it is important we all have a New Year’s Resolution to improve our work effectiveness. One thing I do—as most people do—is dread the looming difficult conversations that I know I will have to initiate. We all have to possess the courage to face these conversations as part of our obligation as managers. Vanderbilt’s Executive MBA performance coach, Darin Rowell (10-90.com) recently did a workshop on Leading through Trust and Powerful Conversations. Here are some excerpts from his workshop to help you start your new year off powerfully. Tami

"As a leader, what do you get paid to do? When I pose this question to my clients and students of Vanderbilt’s Executive MBA program, their initial response typically centers on the technical aspects of their role. However, as they listen to their own responses, they quickly come to the realization that most if not all of their time is spent in conversations with others, whether colleagues, customers or suppliers. The more senior leaders almost immediately answer with something along the lines of “I spend most of my time talking with people and helping them think through situations.”

It’s my experience that organizations themselves are nothing more than networks of conversations and relationships. As leaders, we create business results through our ability to have effective conversations and to build effective relationships. (To provide context, I consider an “effective conversation” one that leads to the chosen result.) In turn, a leader’s ability to have effective conversations, including difficult ones, is often a good proxy for their ability to produce sustainable results. Effective leaders have these characteristics in the way they communicate:

• They understand that for any given result, there are certain conversations which need to take place, while others are not relevant and may even be distractions.
• They have a clear sense for “missing conversations.” Missing conversations are those that must take place in order for individuals or teams to re-align or address issues specific to performance. I’ve found that “missing conversations” are often one of the key factors resulting in performance problems.

As you go through your day, I encourage you to put this framework to the test. Are there performance problems that exist because of your or your team’s inability to consistently have effective conversations? When you identify situations where performance levels are not being met or not being sustained, look for missing conversations.

Poor performance is a typical symptom of a breakdown in relationship as the cause. If you are anything like my clients or me, I can guarantee that you will find opportunities to improve your effectiveness by focusing on powerful conversations. We invest countless hours in both business school and on the job learning the technical aspects of business and of our chosen industry. Yet, as leaders, it’s through our ability to have effective conversations and build effective relationships that we are able to leverage all we have learned in order to produce sustainable results." Darin Rowell

An Argument to Keep GMAT in EMBA Admissions

2010-10-31T21:08:00.004-05:00

I just returned from the annual meeting of the EMBA Council, this year in Vancouver, where my peers and I share information among some 300 EMBA programs all over the world. Our combined interest is to provide access and information that ultimately lead more people to an MBA education via executive format programs. Three of my peers from other schools asked me how I still use the GMAT as a diagnostic, saying that they’d like to but felt pressure to stop requiring it. Their concern? Schools in their market had dropped GMAT, so it was difficult to require it of candidates to their programs and still make their enrollment numbers. How, they asked, have I convinced prospective students to take it?

Why drop a tried and true predictor of academic performance because of pressure to beat competitors? How about using the GMAT to win customers? At Vanderbilt, our GMAT requirement in the EMBA Program helps with the following:
1. Assurance of a solid academic experience and speed of classroom since all classmates are of comparable academic acumen—like a sports team with players at the same level, despite their different backgrounds and strengths. Top prospective students love that. By insisting on the GMAT, we differentiate on a “quality of peers” basis. 100% of our students are vetted academically on CURRENT academic skills—students who might become YOUR study group members and impact YOUR grades if you choose to get an MBA here. Given the high percentage of group grading assignments, don’t you want to know your peers are your intellectual equals?
2. College GPA, for executive age students out of school 15-25 years, is not a current indicator of ability. And, it is not an apples-to-apples comparison. Is it fair to consider a nuclear engineering major from one university and a general studies major from a different school as the same, if their GPA is the same? Probably not. Either one may be the better prospective student academically. The GMAT will be a more accurate way to compare those two. In fact...
3. It is well documented that the R squared for GMAT is a stronger predictor than GPA and even more pronounced in EMBA students than for weekday MBA students. Ironically given the strongest R squared for GMAT as a predictor of core MBA performance in executive programs, the GMAT is now used more in the weekday MBA admissions at a number of schools that have dropped it over the past decade in EMBA admissions. This same time frame has seen the disturbing reference to “MBA Lite” in the press where some executive programs are not perceived as rigorous academically compared to their weekday MBA. No wonder.
4. GMAT preparation—relearning critical reasoning, algebra, etc—and spending 20 hours a week over 6 weeks to do it, is:
a. a way to be prepared for the MBA program, relearning skills long forgotten,
b. A way to determine if you need other pre-work on math and statistics to maximize your success in the MBA program,
c. a way to test your stamina for juggling the demands of work and school over a longer (two year) period of time.

To the argument that some people don’t have much standardized testing experience, I say two things:
a. The right prep is the equalizer. We advise students on how to do their personal best on the GMAT—100 hours of study the right way. Those students who take our advice on HOW to study and invest the 100 hours to do it will do their personal best on this test. And, it will be an amazingly valid predictor of their core MBA class performance.
b. We don’t expect everyone to have the same GMAT score, but we have a broad range of acceptable scores that have proven to lead to academic success in our program. MBA Program directors should know how to look at the MINIMUM score needed for success at their school, given their particular courses, difficulty levels, and the peer competition in their classroom that determines grading curves. That is, we have the history of past students and scores as a predictor of success in core courses in our MBA programs.

As I review at our stance on requiring the GMAT, I have found we have lost very few applicants, even though the competitors in my geography do not require it. Quite the opposite: students who want intellectual challenge are heartened by the fact that everyone here was vetted academically, and it appeals to a higher quality student.

2010-10-31T21:06:00.000-05:00

Rankings and the Executive MBA Decision

2010-09-30T17:29:00.003-05:00

Schools don’t change dramatically one year to the next, but rankings methodologies do. So rankings change and—sometimes, accordingly—student sentiments do, too. Today’s Wall Street Journal ranking (second time, the first was in 2008) placed Vanderbilt #25 in its Best Executive MBA Programs poll. We were #19 in 2008. Wharton got the top spot, deserved in my opinion because they, like Vanderbilt, still hold academic ability high in their admissions standards. Like us, they use the GMAT to ensure that seemingly successful prospective executive students have as much intellectual muscle as they do skills in persuasion and people management. That special combination of brains and boardroom charisma, with new training at mid career, is appreciable for MBA graduates from strong executive programs.

The real learning experience doesn’t change as wildly as the ranking might indicate, so I am always surprised by the changes in sentiment of students and employers. Maybe I shouldn’t be. It is no surprise that career-related concerns topped the list of influencers, since the 2010 graduates entered school in a boom economy and then hit the recession. Only 36% of executive students these days are completely sponsored, less than that—from 34% down to 13% this year—at Vanderbilt.

The Top 25 EMBA programs were determined based on this year’s weighted combination of corporate score, alumni score, and management skills score. Vanderbilt earned an 18 alumni rank and 17 management skills rank. Our corporate rank of 31 probably held us back given this year’s rankings methodology. Why? We are in a mid-sized city that is not a major headquarters location for a deep list of sponsoring corporations, and we only have 50 students to try to make an impact on that recruiter poll.

I am most proud of the international respect a Vanderbilt MBA holds, and the close relationships our students have here with faculty, the staff, the executive coach, and—the secret sauce—their peer executives. As one comment in the WSJ related article notes: “Some [recruiters] criticize EMBA programs for not focusing enough on hard core business disciplines.” Like Wharton, Vanderbilt has never lost sight of academic rigor. In the long run, as employers point out, that will matter.

And what matters the most, rankings aside? You can’t have a great B-school without successful alumni, so how alumni feel several years out, and how alumni have gone and done great things with the education, are the true reflections of the merits of an MBA.

To see the complete article and which schools comprise the TOP 25 EMBA Programs go to:
http://online.wsj.com/public/page/business-schools.html

Gearing Up and Embarking on the EMBA Journey: Meet EMBA 2012

2010-08-10T23:16:00.023-05:00

What would you be doing if you had started the EMBA program this fall? If you’d attended EMBA Math Camp four Saturdays in July, you’d now be an expert in everything from basic order of operations to solving lineals and quadratics, definition of derivatives, marginal analysis, and probability theory – all in prep for the first day of EMBA classes. Math Camp is required of some admitted EMBA students but open to all, complimentary. The goal of Math Camp is to calibrate the quantitative skills of candidates from vastly different career backgrounds so we can move at the speed of Vanderbilt’s typical class. Some students, despite studying hard for the GMAT and doing well, aren’t sure if they should attend camp…

Suppose I asked you to solve this simple equation, using basic order of operations:

(12)(2) ÷ (2)(3)

If you answered 4, you are rusty and would have needed Math Camp!
If you answered 36, you are correct and perhaps would be ready without it.

(Statistics Professor Bruce Cooil, watching over my shoulder as I wrote this, said, “Oh, no! I think I’d need math camp too.”)

Once past the cobwebs of math forgotten long ago, your official launch of the EMBA Program would be Week in Residence. For EMBA 2012, that began Sunday evening August 8, 2010 in New Harmony, Indiana near Evansville. Students who attended Math Camp arrived –often carpooling—anxious to get started and to meet members of their class who did not attend Camp.

What and why New Harmony, IN for a residency week? New Harmony is a Utopian society in southern Indiana that was founded in 1825. Scientists, philosophers, artists, educators and geologists arrived in this wilderness town which was founded on the belief that education for all was the key to a better way of life. Vanderbilt believes this is the perfect place to start the Executive MBA Program each year. We believe that education for working executives continues to be a key to a better way of life benefitting them, their families, and their organizations. Classes take place in a remodeled 1814 Granary that retains its original charm but underwent a transformation to serve as an ideal, modern meeting space. Vanderbilt EMBA classes have begun their journey here for several decades.

Two days into the EMBA experience and the Executive Leadership course, the students anxiously awaited their C-Team assignments. The C-Team is the group comprised of 4 or 5 executive students who will lean on, learn from and laugh with one another as they navigate their way to an MBA. Their candid interactions and willingness to share knowledge will have huge impact on overall learning. The collective wisdom of executive student experiences, put to work frequently on group assignments within C-Teams, enables EMBA students to teach one another in and outside the classroom. Bonds of shared purpose, leadership, and mentorship have already started here at the Residency Week for the 48 members of EMBA 2012.

I hope you enjoy some pictures from WIR 2010. Congratulations EMBA Class of 2012, and welcome to Vanderbilt.

Graduating EMBA 2010 Class Votes with Their Dollars

2010-07-20T18:05:00.021-05:00

Every graduating class is special, but I owe special gratitude to EMBA 2010 for being the FIRST CLASS AT VANDERBILT WITH 100% PARTICIPATION IN THEIR CLASS GIFT. The EMBA 2007 Class made it to 98% giving--a previous Vanderbilt record. Leave it to EMBA 2010--always ready for any competition--to beat that record. Even more telling: 36 of 46 graduating with the MBA from our Executive Program contributed significantly at the Owen Circle level of giving. What motivated them to this generosity?

In short, they are big believers in the quality of our strategy curriculum. The class gift will fund an endowment for our Strategy area. The students felt this was such an important part of the curriculum--in many cases the emphasis on quantitative courses leading to intense strategy assignments and the strategy client project were the reasons they chose Vanderbilt. The strategy program is a year-long sequence of courses (15% of the total program coursework) beginning with Business Strategy, followed by a Strategy Project for a real client company. As one member of the class put it when asked the single greatest strength of the program: "The focus on strategy--how everything aligns to strategy--is the differentiator." We didn't disappoint: Business Strategy Professor Brian McCann won the teaching award at graduation, and 88% of the class was extremely satisfied with the program's impact on their ability to think strategically.

What are other favorite things indicated in anonymous satisfaction surveys as EMBA 2010 completed the program?

90% of the class was extremely satisfied with their Negotiation course

85% -- extremely satisfied with accessibility of the faculty

78% -- extremely satisfied with their Transforming the Organization course

78% -- extremely satisfied with the degree to which the program enhanced their understanding of the global marketplace

76% -- extremely satisfied with the logical sequencing of EMBA courses

75% -- extremely satisfied with Vanderbilt's standards of performance

73% -- extremely satisfied with the applicability of the courses to real business situations they are facing
71% -- extremely satisfied with the Strategic Alignment of Human Capital course

71% -- extremely satisfied with the amount of team work

71% extremely satisfied with their study group (C team).

This generosity of giving and of satisfaction with the Vanderbilt EMBA experience is underscored by the fact that they paid their own way (only 20% of those surveyed had 100% company sponsorship).

In a way, they voted with their dollars twice--with the decision to enroll and with the decision to become alumni donors. They continue to be the best ambassadors for the EMBA experience by recommending their friends to the program. I am left asking, "What else can I do to help you now?" I thank you, EMBA 2010, for your thoughtful responses to our survey, and for your leadership and friendship moving forward. Here's to you with a few of my favorite photos from graduation...we miss you already, so visit often!

Revisiting the Notion of a Certified MBA

2010-05-27T18:40:00.004-05:00

One of my current students ran across an article from 2008 in USA Today Online and asked my thoughts on the CMBA (a Certified MBA Exam). I thought I’d elaborate on my response to him.

There have been several attempts by outside organizations starting about a decade ago to create a certification exam to prove learning post-MBA. With so many variations on the MBA now in existence, we were bound to question whether an MBA from one school is comparable to an MBA from another. While students may be willing to shell out several hundred dollars for a test to demonstrate that they learned a lot, I am not sure employers are demanding it.

Here are challenges to the concept of a CMBA:

1) Variation in MBA Core, Concentrations/Focus: I think of MBA “core”—the business fundamentals that the CMBA tests—as the alphabet for a new language. The rest of that educational experience or language--not the alphabet--is what differentiates great MBA programs and learning outcomes for graduates. That is, the salaries and successes of MBAs reflect a lot more than MBA core knowledge. Some schools only teach core with 32 credits of study, while others like ours are 60 credits, well beyond these core skill-building blocks. General business boasts about 30 distinct fields MBAs might pursue with an MBA, and students choose schools based on which schools specialize in those areas relative to career aspirations. Concentrations of study are inherently problematic for any standardized exam to cover, and the CMBA does not even attempt to cover them.

2) Timing: If core happens early in an MBA curriculum, when is the CMBA test in demand or best to take? When most MBAs are done with core, employers are not looking to hire them yet, except perhaps at the internship stage or immediately upon graduation.

3) GMAT Purpose: The CMBA concept is very different than the baseline aptitudes measured pre-MBA by the GMAT. The GMAT determines likelihood of mastering coursework in core MBA topics, and GMAT-using schools like ours know how score range correlates to performance at our schools. Employers sometimes incorrectly use GMAT scores in their hiring decisions as a sort of IQ indicator, although that is not the intent of the GMAT. What the GMAT does for GMAT-using schools is ensure the intellectual capital of the incoming class—so the faculty at that school can move at the speed and depth they expect—and grades in these core classes are predicted well by GMAT scores.

4) No Silver Bullet: There are competent MBAs and incompetent ones. The degree is only as good as a school’s recruiting and academic process, and an MBA employee is only a reflection of that, vetted by a thorough hiring process. If a CMBA gives some assurance in a hiring decision, then bring it on. But, it will take several years to know if it measured outcomes successfully.

5) Employer Behavior: A standardized exam can’t cover all of the variations in skills required for a specific hiring opportunity in the way that good, old-fashioned interviewing and business discussions can. For the approximately 30 different MBA fields of possibility, employers hire for specific experience sets including unique combinations of academic and work experience. So what employer is interested in this test and for what level employee?

o At the MBA entry level, perhaps a CMBA could demonstrate, “You are smart. You learned a lot in core.” I don’t think it provides more insight than the combination of GPA and admission standards set by a school where an employer has a hiring and retention track record to predict future success. Maybe it will help at entry level when employers lack a track record at a particular school.

o At experienced levels—including MBA alumni and EMBA candidates—differentiated knowledge and experience is that much more pronounced; core knowledge (that is tested by a CMBA) is a given. Employers aren’t hiring just for core skills but for proven performance outcomes at work. The MBA for these candidates is a means to that end: performance (aided by an MBA) is what gets them hired or promoted to the top ranks, as is most often the case with EMBA students.

o Employers already know which schools turn out solid performers and recognize different learning outcomes from different places. I disagree with the notion that top-tier schools are threatened by certification. Many great schools, with solid GMAT, GPA, experience and interview requirements, are the insurance policy for employers who recruit their graduates. These schools won’t have to worry. It will be interesting to see if employers perceive that an additional test provides any new insight.

o But the CMBA may spell trouble for exactly the population it is advertised to help: the individual student paying out of pocket for the test to prove to a would-be employer that their degree from a lesser known school is as good as a premium brand. For certain schools’ graduates, a solid certification outcome may be the best way to give credibility to their degree. The opposite is also possible. It could certainly put some diploma mills out of business and might prove the point: buyer beware.

Employers—speaking from my experience in corporate recruiting-- will always hire from institutions where they trust both the admission standards and the faculty/academic rigor. History of hires and their performance specifically on the job, in addition to retention rates, are paramount. Another test doesn’t change that history or its predictive power.

Here is the article referenced. http://www.usatoday.com/money/companies/management/2002-08-26-cmba_x.htm

What’s in a C-Team?

2010-04-29T14:53:00.006-05:00

Whether you are aspiring to the C-Suite or are already there, we can help. Your transformation to executive decision-making through Vanderbilt’s EMBA program is aided by the way we recruit systematically a group of 50 EMBA classmates who will form ten C- Teams.

What is a C-Team? It is your assigned study group of, typically, five EMBA students for the two-year duration of the Executive MBA experience. All EMBA students are cast in a C-Team. Most of the EMBA courses involve team assignments and grades. The carefully selected peers in your C-Team (representing 4-5 industries and functions) mirror the skill sets of a balanced, corporate executive team. This maximizes learning and diversity of perspectives as you master the skills to earn an MBA.

Our admissions criteria stress the combination of academic and experiential contributions that you and each prospective student might make to the overall learning experience—to your collective learning experience as a class. How do we do it?

• We recruit the class carefully. First, we ensure everyone is academically compatible so that anyone potentially on your team is someone you could depend on and learn from. Second, we find the right balance or combinations from among our candidate pool. As we recruit each of the 50 students in the EMBA class, we are forming 10 balanced C-Teams. Each team should have an experienced professional in finance or accounting (CFO or CAO), operations (the COO), technology and productivity (CIO), marketing or sales (CMO) and one other. The other might be a former junior military officer, doctor, staffing director, corporate attorney, or other professional to serve as Subject Matter Expert, Chief People Officer, GM, or CEO. The other already may be in the C-Suite or own a business.
• The C-Teams are balanced across industries too. This further broadens your frame of reference and potential sources of “best practices” to solve problems in your industry that are common to other industries.
• We are thinking about C-Teams when we meet you. In your interview, we will talk about what you bring to challenge the perspectives of your classmates, and what you need most to learn from them. We will use this information later to determine the best fit among potential C-Teams based on your goals and the goals of your classmates to build the balanced class and specific teams. For example, if your company is undergoing an acquisition, the candidate who has already managed through an acquisition catches our attention. We would not want 50 MBA candidates who have roughly the same experience; in a way, you and your classmates are depending on one another’s diverse backgrounds even before you meet; once you do meet, you will form friendships and professional advocates for life.
• You will learn to leverage and trust others—leadership in practice. Your C-Team will develop more thorough analyses, even if getting the collective wisdom of your group isn’t always the fastest way to complete work. You will learn patience, and you will practice delegating and giving feedback. As one student put it, “In a room of strong personalities, I learned to become a stronger advocate for a well formed idea, whether mine or someone else’s.”
• Your frame of reference—the lens through which you view a problem and potential solutions—will transform subtly with the aid of your C-Team and your faculty. By the time you graduate, you will not only survive by getting work done well through group effort, you will be able to understand and present business opportunities from the perspective of the person you most need to influence—your CEO, CFO, CIO, COO, Board, or customer.

Your ability to understand and influence across these sometimes competing perspectives will go a long way to clearing a path to the C-Suite for you, if you aren’t already there.

Quick Programs Solve Specific Career Voids, But Aren’t the Equal of a World Class MBA

2010-03-14T21:22:00.013-05:00

A WSJ article last fall on “MBA Programs If You are in a Hurry” caused me to consider the roller coaster that the business school industry has been the past decade and how that might confuse the MBA brand and my school’s brand for would- be students. Here’s a quick snapshot of some of my industry’s key changes over the past decade to help potential MBAs make sense of it all.

An MBA was by and large a US-based brand, pulling the brightest students from around the world throughout the latter half of the 20th century.

Then European B-Schools, long known for nondegree exec ed, moved into the degree space with gusto, offering management degrees shorter than the traditional MBA of the US marketplace but longer than the nondegree ed they had perfected. This brought competition in the form of more alternatives to US schools for students from around the world.

At the same time, for-profit universities sprang out of nowhere, offering MBA degrees in half the time and at half the price of the ranked MBA and EMBA programs.
Distance provided yet another avenue for lessening the suffering of a would-be MBA student.

Specialized master’s programs—usually designed for a very specific field—grew to compete as less expensive, less time-consuming alternatives. Specialized management degrees or condensed MBA programs shorten the educational experience (compared to an traditional MBA) in one of two ways: by eliminating some of the general management, strategy and executive management topics in exchange for focus on a specialty area within business study; or by bringing in candidates already specialized to focus primarily on the general management pieces.

Specialized programs can boost career success for people at the early or entry stage of their career (i.e. if you want to start a career in accounting, your early career won’t require great people management or strategic skills, so you might not need all the skills of an MBA program right away). Specialized programs also work well at advanced career stages for those who want to remain specialized (i.e. if you always want to remain in the tech field, pursuing a master’s degree in technology management can enrich your career) but won’t be as useful if you want to move out of a specialty where you are pigeon-holed and into broader general management.

However, for those who aspire to the C-suite, a world-class MBA degree program is still the gold standard because it is both broad and deep. An MBA that provides the full spectrum of general management decision-making skills across an organization is deep in quantitative analysis from accounting and finance, statistics, economics, and operations, then builds with practice in organization management, strategic planning, and often execution via work related application projects with the students’ employers or with strategy clients. Not all MBA programs go this far, and employers do discriminate: not all MBA programs get equal recognition as comparable products. The thought transformation and cross-functional abilities that emerge from thoroughly understanding the interrelated areas of business comprise the polish in “year 2” of deep MBA degree programs whether scheduled as weekday, executive or part-time.

International Residency Scouting Trip

2010-02-19T18:08:00.009-06:00

EMBA Directors Travel To Consider Future Residencies, Share Ideas

One of the most costly but invaluable pieces of an EMBA program is the international residency, wherein students travel abroad for business immersion in the context of political, historical, and cultural differences. Planning these trips generally requires experience in the market (or a travel partner with that experience, or both) and a solid alumni base to create worthwhile company visits that help MBAs understand both the obvious complexities and subtleties of running global businesses.

To that end and specifically to consider the viability –amid recent bad press--of the UAE and India as international residency destinations, our travel partner Accent Travel/TravelMBA/Worldstrides put together an amazing scouting trip for directors from various US-based EMBA and PMBA programs. Pictured at the Taj Mahal clockwise—me from Vanderbilt (in the white sweater) and colleagues from Thunderbird, University of Arizona, Rice, Duke, Jake at Accent Travel, Uof L, UGA, UNC, Northwestern, Earl (the ring leader from Accent Travel—THANKS!!!), Auburn, UVA, Yale, George Mason, Wharton, and Lauren from Accent Travel.

This extraordinary experience took us on a tour in the United Arab Emirates and India. How can I explain differences between these two worlds?

In Dubai and Abu Dhabi,

Everything is new since the 1970s—wealth creation via oil, aluminum, and tourism. History in the UAE is written anew almost daily, with a new “first, biggest, best.” Abundance is the word for everything. One sees the tallest building in the world (called Burj Dubai until opening day in January so the signs are already yesterday’s news!), the latest model cars almost exclusively, the most famous horses, the greenest golf course (yes, in a desert, requiring 2 million gallons of desalinized water daily!), the most unique resort properties like the Palm and the Burj Al Arab (pictured), the largest shopping mall with 1200 stores and an indoor snow skiing facility, and the list goes on.

In Dubai 8O% of people are expats. Everyone speaks several languages flawlessly, and the people are all beautiful. If you want an international career—and speak several languages--this is the place to start. It is a unique global hub that is 40% business (with incredible infrastructure) and 60% tourism. It is known for tolerance. Looking a little closer, this place that defaulted on $6B still boasts zero unemployment; this is kept in check by the requirement for expats to find work within 30 days or leave. And still they come. Yes, there is still plenty going on for this to be a worthy business study.

Then we turned to India. My second trip to this incredible country was made more dramatic by its contrasts to the UAE.

Few places can compete with the history and mystery of India.

The faces of poverty are many—but often beautiful. Those that are not are faces of people struggling in the streets in such mass that most Westerners cannot fathom. Real problems associated with managing society and infrastructure provide the most challenging business opportunity for solving the most basic needs—clean water, access to medical care, roadways, housing, etc.

But the desire to live honorably (in whatever conditions), and the desire to work hard are the rules of this society. No one is idle. Everyone is an entrepreneur on the scale of one's imagination, ability or as dictated by the need for survival. It’s no surprise that some of the best technical minds come out of this place including 400,000 engineering graduates a year.
I had the pleasure of catching up with Alban Cambournac EMBA 07 and his wife, Elise (pictured right) who are French citizens recently moved from Nashville to Bangalore with Schneider and Cognizant, respectively. Their very globally minded children are immersed in a private Indian primary school.

The Taj really should be on everyone’s bucket list. I will not even attempt to describe it but will say that you have to go; the pictures cannot do it justice. A Wonder of the World, indeed.

I want to publicly and enthusiastically thank all the contributors of time, money, and hospitality in making this trip a possibility for our 14 schools: Accent Travel/TravelMBA/WorldStrides and their on the ground partners Eastbound and Arabian Adventures, Jumeirah Group, Emirates Airlines, Emirates Towers, The Taj, The Oberoi Group, The Sheraton Dubai Creek, Infosys, and Wipro. I have now stayed in the finest hotels, eaten the most amazing food, had my most comfortable air travel experience ever imaginable, and even rode a camel. (He looked a lot more ambivalent than I felt about it.)

In fact, the camels provided the only lukewarm reception to our visit. Although this spring my EMBAs will be in Brazil, yes I will come back to the UAE and India with students.

Ask Your Accountant

2010-01-24T16:59:00.006-06:00

While I am not your tax accountant, I do hope you will look into a possible tuition write-off. Recently the "Clarke Decision" ruled in favor of Lori Singleton Clarke, an MBA pursuing the degree to improve existing skills. She was allowed the work-related tuition write off as a qualifying "miscellaneous itemized deduction" within the years she paid for advancing her education. This may be good news for non-sponsored EMBA students, increasingly the rule rather than the exception as corporate sponsorship has taken a break.
Here's why:

Career Enhancing, Not Career Switching: EMBA programs were designed as general management degrees for professionals already deep into career specialties (10-20 years typically), where they need to enhance those skills to stay current and continue moving up their career path to senior leadership. To the extent that students are planning to stay in their field and thus pursue general management programs without concentrations of study in a different field of business, this bodes well for tax implications. (Conversely, many weekday MBA programs and some newer iterations of EMBA programs are designed -- through concentrations or internships or both -- to enable career switchers, typically at a lower experience level.) Improving skills is the key -- the CPA to controller or CAO path, the technical lead to CTO path, the sales director to EVP sales transition, etc. EMBA programs were designed for this upward path, to the extent they still encourage incoming students looking to escalate versus change career direction.

Employer Not Requiring/Sponsoring: The proactive nature of Ms. Clarke's case seems to have helped. She was not required to, but did pursue advanced education related to her job to be better at it. As a bridge against uncertainty in business and the job market, that's smart. I'd rather have an MBA than not in this job market. One of my recent EMBA graduates told me that a large number of her colleagues were laid off, but she was specifically told (in this medium sized company) that she was not, because her MBA would enable her to pinch hit across the organization when the number of employees is down. As she put it, "That's one sort of six-figure ROI that's pretty critical, even if it's not a promotion."

The education cannot lead to a new line of work altogether, from what I understand. In some cases, the marketing executive may be able to write-off the marketing portion of EMBA education and organization management courses if presumably in a leadership role, if not the whole degree. So now is a good time to talk to you accountant and Uncle Sam about continuing in your path and strengthening your position in your field through the EMBA program.

Could You Win the Strategy Jeopardy Challenge?

2010-01-07T10:35:00.010-06:00

(See if You’re As Smart as EMBA 2010 Team 2)

Strategy—a two-course sequence that integrates all core MBA knowledge--has long been one of the keys to the Vanderbilt EMBA program. The EMBA Class of 2010 started year two of their MBA program by selecting their strategy client, then tackling Business Strategy. (Strategy Project swings into gear this semester.) But EMBA 2010 finished up a tough final exam weekend in December with a challenging, fun holiday treat: Strategy Jeopardy!

Alex Trebek holds nothing over Professor Brian McCann…with such categories as External Forces, Cite that Case, and Frameworks, he encouraged ten EMBA teams to fight hard to recall what they’d learned and find those elusive Daily Doubles. Mastering the game was Team 2 (pictured) including Craig Brooks, a QA Manager for Wackenhut in Knoxville, TN; Charlie Crowe, Design Engineer a.k.a. “rocket scientist “for KBM Enterprises in Huntsville, AL; Chandra Kumbar, Director of Cardiac Electrophysiology for the Heart Group in Evansville, IN; Brad Tidwell, Design Engineering Manager for ADTRAN in Huntsville, AL; and Aaron Withers, Controller of Batesville Casket in Manchester, TN. They won candy bars wrapped as $1,000,000 bills for their efforts. Tidwell enthusiastically concluded: “I would have been better off with extra credit points for my final Strategy grade.”

And the losing team? That would be Team 3, as explained by David Parks, an ER physician at Medical Center at Bowling Green: “When we realized we might risk all our points, come in dead last and also win a prize, we did the Rational Actor thing as learned in economics. Luke [Professor Froeb] would have been proud.”

So, challenge yourself to three questions posed to EMBA 2010 during their final day of Corporate Strategy…would you have bet all your money to win in Final Jeopardy?

The fact that around 50% of new business owners rate their probability of success at 100% (and the fact that 86% of EMBAs rate themselves as above average) is an indication of this decision-making bias.

Answer: What is: ___________________

This governance form is an interim solution between market transactions and full integration in the firm; often has a learning-related goal.

Answer: What is an: ___________________

Staged venture capital investments and joint ventures as a stepping stone to full acquisition both represent this approach that highlights the value of uncertainty and flexibility.

Answer: What are: ___________________

If you have a topic of interest you’d like to see on my blog, send me your question or suggestion. I look forward to hearing from you. Happy New Year.

EMBAs Gain Confidence, Lose Cockiness

2009-12-14T13:18:00.004-06:00

There’s something to be said for living and working long enough to have failed at something. EMBA students, who are typically in their 30s to 50s, bring their rich employment past and present to the classroom every day. They come to learn not just from faculty, but also from their peers in class, and they all have a lesson or two to teach as well.

EMBA candidates, in their rise to middle management and executive ranks, have had their fair share of life lessons including: things they tried that failed, mistakes they made in delegating to people and managing up the chain of command, learning and knowing which levers to pull and which investments to make that lead to results, reading customers and their reactions. The list goes on. It’s all the soft skills that are the hardest part of any job…execution involving people.

A humble mind is a great foundation for getting more out of your learning environment. Thinking through the different trials of their management and executive jobs, EMBA students bring a refreshing perspective to the classroom and to their peers. They beat one another up in class on Saturdays and explore a wide range of classroom topics sprinkled with current challenges from their work. Then everyone is ready to face their executive team, their investors, their board, their employees and their customers back at work on Monday.

If you are considering the EMBA program, we look to you to articulate what you would be able to teach your peers in class. If you join us, you may show up for Week-in-Residence a little cocky, but it will not last long. The average person in the classroom—a manager/executive with 10-20 years of experience, a strong intellect, and perhaps another graduate degree—will help you realize that everyone in the class is a high achiever who is successful, and a little wiser, because of past successes and mistakes in business.

Because of those mistakes, the MBA has become imperative for each student in their own time. An EMBA program is not about gaining a piece of paper as a credential for a trophy shelf, although the credential is a must in certain fields. It’s about gaining confidence in your ability to see all the angles of a problem. It’s about influencing others, backed by data and a new language for presenting “gut” instincts in a quantifiable way. It’s about sharing best practices with faculty and student peers from different companies and industries that share common problems. It’s the journey toward earning the piece of paper, marked by shared experiences, that’s worth having.

Time Management and the MBA

2009-11-23T16:46:00.004-06:00

What does it mean to do an EMBA program and hold down a demanding management job? Each of our 1400 EMBA graduates started their own journey with the question, “Do I really have the time and resources to go back for an MBA now, amid my work and family commitments?”

What they found was a different philosophical question with rewarding answers: What does the EMBA experience do to make you a better time manager? Moreover, how will it affect your work and family ongoing, and how will the world view your accomplishment as a master juggler of multiple priorities? I think of these aspects when I get the occasional question about whether EMBA programs are MBA Lite. Here it’s quite the opposite.

Vanderbilt EMBA students are masters of hard work and earn every one of their 60-credits for the MBA degree without falling down on the job. Vanderbilt EMBAs experience the following:

• A longer week than the typical MBA. Our EMBAs spend 20-25 hours a week on school work after putting in a full work week and class every other Saturday. They test their stamina for this juggle by preparing for the GMAT, experimenting with where 20 hours can be found to get ready for that first of many tests.
• A vacation from volunteer activities. Incoming EMBA students unvolunteer themselves for the next two years from nonprofits, boards, committee chairs, coaching and other activities to clear their schedules for school.
• The ability to avoid time wasters at work. EMBAs practice the economic principle of moving their resources (time) to higher order uses. They manage their time more critically and eliminate nonproductive activities from their day.
• Decisiveness, overcoming the inclination to revisit issues. The ability to analyze thoroughly, make sound conclusions, and move on are hallmarks of the EMBA program’s effect on personal management style. In short, you can’t thrive here if you are the sort of person who gets caught up in analysis paralysis.
• Good practices outside of work and school. EMBA ’05 David Adams talks about how his “family night” consisted, pre-MBA, of his wife and 4 kids all scattered in different rooms. During the EMBA program, this changed to planned events, where the family agreed on a game or movie or activity they could all do together. That lesson alone made the family stronger, and helped him not only get through school but become a more involved parent. That habit continues.
• Respect by employers of MBAs from rigorous executive programs. As EMBA ’87 Corbette Doyle put it: “With so much high potential talent pushing for promotions and so many baby boomers not yet ready to retire, it is important to differentiate. The EMBA program showcases a significant career commitment and critical ability to multitask.” Vanderbilt’s EMBA format and MBA weekday format have the same academic credits and admission requirements leading to the MBA degree so that they are comparable in learning transformation and reputation.

The EMBA experience is time well spent. It’s a juggling act that says a lot about you as the MBA student to manage your time successfully and excel at it all. Picking the right time--for you, your career and your family-- is the next step.

Welcome to my blog

2009-11-18T15:52:00.001-06:00

Frequently a number of my current EMBA students, alumni and prospective students—even colleagues—share a concern, a challenge, a situation in common. Often the answer would benefit a larger group. Thus, I will post observations about the EMBA experience, learning moments, executive development tips, suggested readings and links, and other newsworthy information to help you elevate your business to a higher degree.