UPDATE | From the Dean
Photo by Bob Rashid
“Over the course of the last hundred years, business has transformed the world. It has been a driving force in shaping society and the catalyst behind extraordinary economic growth and opportunity. Effective management of business has spurred the creation of jobs, the generation of wealth, and access to opportunity for an increasingly diverse population. Management education has produced leaders capable of creating effective organizations that are the core of these profound, global achievements.”
— Why Management Education Matters
In a new report, a task force of the Association to Advance Collegiate Schools of Business examines the impact of business education on individuals, organizations and society.
As the report makes clear, many factors affect management education today. One of the most important is the marketization of the world’s economy. Literally billions of people in countries such as China and India are participating in market economies for the first time. As a result, the worldwide need to train people in business concepts has never been greater.
Here at the School of Business, we believe this trend presents an opportunity for us to deliver business education to new audiences in new ways and generate much-needed additional revenues. In an era of declining state support, becoming more entrepreneurial is a necessity. We are committed to developing and enhancing programs capable of directly contributing to society and to our bottom line.
In an era of declining state support, becoming more entrepreneurial is a necessity.
One area with major potential is Executive Education. Public programs pay the salaries of our faculty and staff and help us pay the capital costs of the Fluno Center. Custom programs, offered through the Center for Advanced Studies in Business (CASB), provide particular opportunities for enhanced revenue for the School of Business. In fiscal year 2005, they brought in $3.1 million in program revenue, $5.5 million in building revenue and contributed $250,000 toward School of Business operations. We see growing the scale and quality of these programs as a major way to advance the state’s economy, continue to learn from corporate partners and increase our profitability.
Another important area of opportunity is our part-time MBA programs. The Evening MBA and Executive MBA programs fill the needs of local and regional employers and their employees and play an important role in our financial health. Growing these programs while maintaining their high quality will be an important challenge in the years ahead.
These entrepreneurial initiatives offer ways for the School of Business to generate revenue and produce outstanding business leaders.
I know I can count on our many alumni, friends and other supporters to be a part of our success.
Michael Knetter
Dean