INTRODUCTION
World business is in constant flux these days as economies surge and stumble, new markets emerge while old ones dwindle and entire sectors undergo deep transformations. Aspiring managers and executives need the correct training so they can keep ahead of the curve as their global careers progress. Picking the best MBA programs to fit their professional and personal requirements is a vital consideration.

In this Newsweek International Asian MBA Showcase, journalist B.H. Jones looks at the current business education sector, its explosive growth, how schools are adapting to new demands by students, how and why schools are accredited and where to look for that program which is best suited for you.

A DIVERSE SECTOR
Business schools and MBA programs have been around for well over a century and while the traditional degree is still a popular choice for many, schools are now offering an array of new programs specifically designed to meet the needs of an increasingly diverse sector.

Executive MBAs, global degrees, programs in specialized fields and those emphasizing a particular region are available, as are part-time, online and distant-learning MBAs in different combinations and configurations. Many have programs in languages other than English and with globalization here to stay, institutions are providing students with the chance to do at least part of their studies in other countries.

An international network of 16 distinguished universities including the University of Hong Kong, the National University of Singapore, the University of Virginia and others in Canada, Australia, New Zealand, Britain and Germany have joined together to offer the Universitas 21 Global MBA, an internationally-recognized online program.

“Online learning refers to the use of the Internet for the delivery of subject materials and to facilitate instructorstudent and student-student interaction. Students use a computer and, via the Internet, access online classrooms which provide content and communications links including message boards, threaded discussions and chat rooms,” says Dr. Mukesh Aghi, the CEO of Universitas 21 Global.

“The whole approach is not text-based, but interactive study based on global case studies which are incorporated into each subject to provide a realistic context and application of theories into practice,” he explains. “Due to the ease of delivery, the emphasis in the educational process shifts from teaching to learning.”

Concentrations in particular fields are being offered by business schools diversifying their MBA programs such as the Durham Business School which recently inaugurated its MBA in finance, a one-year full-time program.

“Finance is the international language of business,” says Durham Business School Director and Finance Professor Tony Antoniou, “and we designed this program for people who someday are going to reach the boardroom. Today’s business leaders need to have more of an understanding in finance than in the past.”

There are around 70 students enrolled in the Durham Business School, of which 20 have signed up for the MBA (Finance) that consists of the core program plus two extra finance modules. Students also have the chance to participate in a leadership development program which takes place in a mock boardroom chaired by a real CEO.

“These days, business school graduates need soft skills, but they also require specialization. We’re unique in striking a very good balance between the general skills of the MBA and financial skills,” Mr. Antoniou explains.

One school which offers a range of specializations as part of its studies leading to the MBA degree is the Graduate School of Management at Universiti Putra Malaysia. “With the growth of the business society, people need to better equip themselves to the needs of today’s organizations,” says a school spokesperson.

“The purpose of our program is to provide comprehensive information to students of all the courses offered with regards to the important aspects of management and their application in confronting problems in a business entity,” according to the spokesperson.

Finance is one of the Graduate School of Management’s five specializations, along with Marketing, Human Resource Management, International Business and General Management, all of which “provide an opportunity for the students to further strengthen their knowledge in these fields,” the spokesperson argues.

GAINING IMPORTANCE
Many business schools are quick to identify sectors which are gaining importance in the world economy and that require specially trained managers. Several years ago, for example, institutions began offering programs with a heavy emphasis on e-business as the dot.com revolution took off.

In Asia, the Graduate School of International Management at the International University of Japan features a one-year Master’s degree in E-Business Management as well as its standard MBA. “Technology is here to stay and ever evolving,” explains Dean and Professor of Strategy and Management Chet Borucki.

“The IUJ Master’s of E-Business Management provides very practical and forward thinking skills to today’s young executives who will face technology issues and need creative solutions using technology to advance their companies for the foreseeable future, be it with e-business or m-business,” he says.

Prof. Borucki is quick to stress that the program is more than just using the world wide web in business. “Beyond the Internet the IUJ program provides instruction into technological solutions for everyday problems, e-business and mobile business, cyber laws, issues of B-to-B businesses and cross-border concerns, e-government issues and using technology to maximize customer satisfaction and various IT consulting skills.

Besides its general MBA, the Manila-based Asian Institute of Management (AIM) has three specialized programs: a Master in Entrepreneurship, a Master in Management and a Master in Development Management, all of which reflect the changing needs of global executives in all sectors.

Designed for hands-on entrepreneurs who have been running their own businesses for at least a year, the students in AIM’s Master in Entrepreneurship program learn how to learn by themselves, says a school spokesperson. “The thought process, not the solution is the highlight of the learning experience. Everything that is learned is translated into practical strategies which are immediately applied to the enterprise.”

AIM’s Master in Management program emphasizes leadership and strategic management skills for students with at least three years of managerial experience while the Master in Development Management degree is for development executives and managers who want to lead public and civil society organizations, such as NGOs, cooperatives and private non-profit firms.

Diversity in studies is the idea behind the University of California-Irvine extension program for international students. It offers post-graduate certificates with courses of between two and 12 months in Business Administration, Global Marketing Management, Marketing, Electronic Business, Communications and Networking Engineering, Teaching English as a Foreign Language, Oracle Databate Administrator Training, Design and Digital Arts and .............

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