Adding value to your executive education: choosing an accredited course

From the very traditional limited number and scope of the MBA, there are now thousands of MBAs on offer throughout the world now, of variable quality. You can choose to study as far from home as New Delhi, Kuala Lumpur, Switzerland, Fiji, or Paramaribo. Although no two business schools offer the same curriculum, but expose students to a common body of knowledge in basic accounting, economics, finance, human resources and organization design, marketing, operations, policy, quantitative methods and statistics: but now you can choose to specialize further, choosing to focus on the public or private sector. Some programs even offer distance learning and flexible course schedules to maximize learning potential for their students. But with so many courses and so much on offer, how can you ensure you are attending the course that employers will recognize?

The latest research doesn’t help matters either. eFinancialcareers.com, the world’s leading online finance recruiting website, reveals widely varying opinions on the value of an MBA in the modern work place. A substantial 44 percent argue that an MBA is pointless and rarely worthwhile. On the other hand, 25 percent believe it is sometimes worthwhile, 18.5 percent say it is generally worthwhile and 12 percent think it is always worthwhile.

There is a solution. Just as you would check for the quality mark on fresh produce, the Association of MBAs provides independent and rigorous external validation of individual courses and schools on a global basis. Students and employers look for accreditation as a guarantee that the MBA will be valuable, delivered to a high standard and recognized in the market.

But as the list of accredited courses / schools grows, does this mean the AMBA are diluting their brand? Not according to Chief Executive Jeanette Purcell. “The growth of our accreditation is carefully managed to ensure that there is no damage to the MBA brand and that high standards are consistently maintained,” she says. “There are new and growing business schools emerging in new markets such as India and China and some of these are offering high quality global programs, which deserve accreditation. The number of accredited courses will always far outweigh those that are not and so the value of accreditation will continue to make a difference.” Research conducted by the AMBA shows that year on year that MBAs from accredited programs achieve a significant return on their investment in the form of higher salaries and career advancement. So it seems there is a mark of quality you can look for when choosing an MBA.

As the number of courses, modes of learning and increasingly global nature of courses being offered are changing, so are the demands of employers. Given these constantly changing variables, according to Purcell it is vitally important to have a system for independent quality assessment. Research conducted by the AMBA shows that employers continue to value the MBA as evidence of all round business knowledge and skills at a strategic level. “We find that employers are putting a premium on the 'softer' skills such as communication and leadership,” she continues. “They value people who are team-players and who can inspire and motivate others. The knowledge and experience that comes with the MBA is almost taken as a given - it is the interpersonal skills that will give one candidate the edge over another. In recognition of this our accredited business schools are all incorporating leadership development and interpersonal skills in the MBA programs to reflect current business needs.”

Since its inception in 1967, the Association's objectives have been to promote post-graduate level business education to institutions, prospective students and employers and to increase the supply of and demand for post-graduate management programs. Over this time, there have been many changes, including the switch in direction of employer’s requirements from the MBA. One thing that Purcell notes hasn’t changed much is the involvement of women pursuing these kinds of qualifications. “It is still a concern that the percentage of women studying for an MBA has not changed much in the past ten years,” she says. “Still only 25-30 percent of an MBA class is female in most cases. I would see this changing gradually over time as more flexible modes of study are introduced and the image of the MBA as a male dominated environment, which is focused on finance and statistics, is slowly broken down.”

Looking to the future of executive education, what else does Purcell see? There will certainly be an increasing range of learning and education options for students, she says. “The two year full time MBA for a 25 year old male working in finance is disappearing. Now you can study for an MBA in many different ways to fit in with your work and other commitments. And the MBA now caters for a more diverse student market, coming from different countries and cultures and with ambitions to develop their careers in all sorts of ways. For instance, many MBA programs are focusing on entrepreneurship to reflect the growing number of students with an interest in growing their own business. The new global markets are India, China and the Middle East where there are hundreds of business schools emerging - the Association's involvement in these new markets is essential to ensure that students and employers can find their way around the choices on offer and have a guarantee of quality from the courses they choose.” And with accreditation from associations like the AMBA to guide students, these are happy days for those seeking this kind of further education.