Purdue University leads the way in Global Executive MBAs
Truly international experience
Founded in 1869, Purdue University is one of America’s leading research institutions with a reputation for excellent and affordable education. Purdue is a stateassisted institution with several specialized campuses throughout the Midwestern state of Indiana. The Krannert Graduate School of Management is located on the main campus in West Lafayette, a friendly city just a day trip away from the urban capital of Chicago, Illinois. International students with the notorious notion that all of America looks like New York City could greatly benefit from spending some time in the “Heartland” to see how the vast majority of the population lives, works... and makes spending decisions.
Purdue signed an official partnership with ESC in 1994, marking the first time a school offered a dual-degree program on both sides of the Atlantic. In 1996, Krannert expanded its International Master’s in Management with the addition of a central European school (Budapest University, which has since been replaced by Central European University’s Business School in Budapest) and again in 1999 with the addition Tias Business School of Tilburg University in the Netherlands.
“We look for a complement of schools. The best schools in each country that we go to,” Steuterman said.
More changes took place in February as the partnership with ESC in Rouen ended due to a lack recruitment effort coming from Rouen. Rouen was replaced by the German International Graduate School of Management and Administration in Hanover. And although still new, Central European University in Budapest, Hungary is very highly ranked. The school got its start in 1991, “pretty soon after the fall of the Wall,” she said.
In 12 weeks of residency, IMM students spend four weeks at Purdue, four in the Netherlands, two in Germany and two in Hungary. They learn a great deal wherever they are but Budapest provides a truly new experience, according to Steuterman, noting that many participants already have visited Paris and London for pleasure, so the IMM further expands their horizons.
Why ‘go global’
“If you're working and you want an executive MBA, you don't have to give up your career – or your income – especially in economic times when it’s difficult,” said Jane Delbene, Marketing Director for HEC in Paris.
“Particularly if you’re a senior executive, your career is quite important, as well as your ability to keep earning income throughout an MBA program,” she added. GEMBA programs are tailored to managers from a full range of sectors: financial services, banking, manufacturing, consumer goods, consulting, not-for-profit organizations and governmental agencies. Participants frequently include chief executives, presidents, vice-presidents and managing directors of multinational companies and entrepreneurial ventures around the world.
“Our furthest student commutes from Kuwait every month,” said Susan Roth, Director of Program Development for Columbia Business School. “It’s a great time to study, there on the plane. Lots of uninterrupted reading time.”
GEMBA programs also are distinctive in that sessions are concentrated into brief residential periods spread over about two years, rather than following the evening or alternating weekend class schedule typical of traditional executive MBA programs. Such a schedule makes it possible for participants to be drawn from around the world and eliminates the problem of potential interruptions in their education for people who experience job transfers during the program.
Immediate and affordable
Purdue’s program emphasizes immediate applications to actual work situations:
“What we do best is applications, and that's how to apply what you've learned into your everyday life. What you learn during each two-week residency, you apply as soon as you get back to work so there’s immediate application,” Steuterman said. The time prior to each residency is spent on reading and computer-based assignments in preparation for the class sessions. Study groups remain active during interim periods by being linked to each other and the faculty via the Internet and a central Web site. This way, Purdue says its program offers an alternative to traditional part-time executive MBAs and the usual “transplant” American MBA in Europe, both in its delivery system and the international character of the students, faculty and residential sessions.
Current participants in Krannert’s fourschool lineup are 24 percent American, with the rest coming from Europe, Canada, Latin America, the Middle East and Asia. Upon completion of the two-year IMM program, graduates earn two master’s degrees: an MBA from Purdue and an MBA from either Tilburg or CEU. All that for a $54,000 price tag. “It's a very good value,” Steuterman said. “When you look at what our ranking is – Number 14 in the world in the “Financial Times” in 2003 – and the cost of the program, it’s truly an incredible value.” The $54,000 covers instruction, institutional costs, books and course materials, plus housing and most meals du-ring the residential sessions. Travel to the sessions, however, is the participant’s responsibility.
“A lot of people use Frequent Flyer miles,” she said. “Also, you have your schedule two years ahead so you can get good deals. This way, the transportation doesn't cost as much as you might think.”
Krannert’s MBA programs are consistently ranked as one of the best values in management education by publications such as “Business Week,” “The Financial Times” and “Forbes.”
A triumph for TRIUM
For the fourth consecutive year, admissions to the TRIUM Global Executive MBA program are at an all-time high. Since its inaugural class in September 2001, TRIUM – an alliance created by New York University Stern School of Business, London School of Economics and Political Science and the French HEC School of Management – has seen its enrollment increase 47 percent to a record 53 students starting in September 2004.
“Our numbers are up this year quite substantially. This type of training is highly valued now worldwide,” said Delbene, noting, “Global executive MBAs are still new in the market. They weren’t there fiveor ten years ago.” The 53 students comprising the Class of 2006 represent 24 different nationalities. With an average age of 40 and 16 years of work experience, they will undertake six intensive two-week modules held at the three partner schools plus two “emerging economy” locations, with recent choices featuring China and Brazil. A final module is held back in New York. Between modules, students are required to use the distance learning platform for individual and group assignments, she said. “Obviously, you have to have the support of your employer. But over the entire 16 months of the program, you’re actually away from your office for only 10 weeks,” Delbene said. TRIUM’s particular combination – studying just steps away from Wall Street, soaking up the London School of Economic’s unique philosophy that economics cannot be separated from the political and social context in which it operates, and time spent at a Parisian “Grande Ecole” considered the premier business school in France – provides students with a complementary blend of perspectives. Upon completion of the program, graduates receive a single MBA degree issued jointly by the three schools.
Participation in the program, including tuition, books and accommodation but not travel, costs $113,000, Delbene said.
Purdue University invented the global executive MBA in 1991 when forward-thinking finance professor Bill Lewellen decided his business students could benefit from frequent visits to the Ecole Superieur de Commerce in Rouen as much as he did. “When the program with Rouen began, relationships developed. Through that, the schools just started coming together. In the early ’90s with the focus on globalization, our Executive Masters in Business Administration just morphed into the global program,” said Erika Steuterman, Director of Executive MBA programs for Purdue’s Krannert Graduate School of Management. As for her “visionary” boss, Lewellen is now Director of Executive Education Programs at Krannert.
Columbia and London business schools team up
Columbia Business School and London Business School launched their EMBA Global in May 2001. The five-term, 20-month program capitalizes on the dual advantages of the world's financial centers: New York and London. Upon completion, graduates hold full MBA degrees from both schools. "This was born out of a very successful exchange program that existed in our regular MBA program. The exchange with London Business School was the most popular out of our 20 partners. And as for alumni, the largest number living outside of the US are in London," Roth said. Setting the program apart is its bricksand-mortar approach. "The two schools agreed to have no distance learning, no online component. This is not a watereddown MBA program," she said.
EMBA-Global students spend their first year attending core curriculum classes once a month, alternating between New York and London. In their second year, schedules are more flexible as students complete a Company Project and choose from a diverse selection of elective courses in New York, London or both cities. The second year also includes a weeklong international seminar in Asia, where student groups conduct in-depth examinations of local firms. Fees of $115,000 cover all tuition, books and accommodation. Students are responsible
for travel to and from the sessions. Roth said typical students have eight to ten years of work experience. The current class includes 65 students from 25 different countries. "At the inception, we thought this would be very New York-London, but to our delight, that's never been the case," Roth said.