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A Master of Business Administration (MBA) can be a great way to propel one’s career towards greater job responsibilities, and participating in innovative MBA programs can help to distinguish business professionals from their peers in a number of ways. Industry evolves due to updated regulations, new trade agreements and even advancements in information technology. Academic degree programs like ones for graduate business must adapt to those changes to remain relevant to students and the business communities that they serve. Here are some of the ways that innovative graduate business degree programs prepare future leaders for a rapidly changing global economy.
Authentic Problem Solving
Progressive MBA programs have all but replaced many of its staple case study exercises with customized consulting projects that help to solve real problems for actual companies. Many universities have become centers of excellence in research that attract industry partners. Other schools reap the benefits of talented alumni who are in key leadership positions in top companies. These industry relationships pave the way for current students to work on projects that are interesting and relevant in today’s business, social and cultural environments. For example, some students are called upon to generate strategic plans for businesses that offer game changing solutions in areas like alternative energy, water treatment and waste disposal for developing nations. Other students are challenged to create, operate and manage new businesses with actual start up funding under the guidance of industry professionals and experienced faculty; the profits from those business are often reinvested into local community charities.
Use of Interdisciplinary Themes
Since the demand for authentic educational experiences is trending in today’s leading graduate business degree programs, many universities structure their curricula to include interaction with other industry disciplines. This type of learning model goes beyond pairing marketing and finance students together for traditional case study projects. In this type of educational experience, instructors across disciplines like environmental science, urban planning, engineering and business create learning laboratories that allow students from each area to work together to generate holistic solutions to pressing industry issues in the local community or in international settings. An issue could include the need to provide additional green spaces in overcrowded, pollution plagued cities. Another challenge could be to create a neighborhood infrastructure that discourages pollution from heavy auto traffic and encourages healthy lifestyle habits like walking and biking.
Emphasis on Corporate Responsibility and Positive Social Change
Many modern businesses have redefined what success means to their organizations, and maximizing profits is only part of the equation. These companies have discovered that key investments in local communities go a long way toward increasing share holder value in the long term. Consumers have many purchase options in free market societies, and many choose to patronize businesses that share common values. Students participating in innovative business degree programs are taught to recognize opportunities for businesses to make positive impacts on the communities that they serve while they make profits. These students are also trained to identify risks of corporate irresponsibility that can result in damaged brand reputations.
Conclusion
There are a number of MBA programs in the higher education market place, and their curricula formats that include traditional classroom, distance learning or a combination of both offer plenty of flexibility. However, the highly ranked programs provide their students with more than just foundational business theory and schedule convenience. The most innovative MBA programs give students academic opportunities that mirror real world, industry expectations.
