Presentation on theme: "Lessons Learned in Repositioning and Reinventing a Jesuit EMBA Brand F rancis Petit, Fordham University 12th Annual Colleagues in Jesuit Business Education."— Presentation transcript:
Lessons Learned in Repositioning and Reinventing a Jesuit EMBA Brand F rancis Petit, Fordham University 12th Annual Colleagues in Jesuit Business Education (CJBE) Rockhurst University, Kansas City, Missouri July 18, 2009 12:30 pm – 1:30 pm
AGENDA The Executive MBA Industry Historical Analysis of Fordham Program The Repositioning Process The Good, The Bad and The Ugly The New Executive MBA Product Post Repositioning Strategy
The Petit File Francis Petit Assistant Dean and Director of Executive Programs at Fordham University Graduate School of Business Administration Adjunct Associate Professor of Marketing at Fordham Over career has established Executive Programs and Modules for participants in North America, South America, Europe, Asia and the Middle East. Undergraduate degree from Fordham University and Doctorate in Economics and Education from Columbia University. He and his wife reside in Westchester County with their four children which keep them very busy.
The Executive MBA Industry The Executive MBA Industry---The Good News 84% of all Non-US Programs established since 1990 Application Surge until 2008 Average Class Size grown from 42 to 44 students 57% of programs worldwide are considering expansion (increasing enrollments or starting program in satellite locations). 99% of EMBA students would refer program to someone else 50% of EMBA students/graduates indicated they received additional responsibilities due to enrollment 50% indicated received a promotion during their studies. Product in growth stage of product lifecycle (at least on international level). EMBA PERCEIVED AS CASH COW WITHIN UNIVERSITIES. Source: The Executive MBA Council.
The Executive MBA Industry The Bad News Full Corporate Sponsorship Dwindling each year (2008 – 32% fully sponsored). In 2001 only 9% self-sponsored In 2008, 33% self-sponsored Tuition Disparity---New York City Market $139K, $137K, $134K, $82K, $77K, and $68K. Students are willing to pay more out of pocket for MBA in this format. Source: The Executive MBA Council.
Historical Analysis of Fordham Program Transnational MBA Program Launched in 1998 One Weekend Per Month, 27 Months Conference Center Program Premium Priced Program included 2 to 3 International Residentials to sites such as Beijing, Geneva, Dublin and Cannes. StrategyFlagship Program of Business School, doesnt have to be a money maker, just a differentiator.
Historical Analysis of Fordham Program Transnational MBA Program Enrollment Class of 2000 = 19 Students Class of 2001 = 14 Students Class of 2002 = 13 Students Class of 2003 = 23 Students Class of 2005 = 13 Students
The Repositioning Process Problems University unhappy by enrollment Internal strife among staff Students unhappy by University Commitment (towards end) EMBA Faculty unhappy by new Deans vision of program.
The Repositioning Process Stage I – Marketing Research Jan. 2002--The following Sample of 50 interviewed Question--What makes up a high impact EMBA Program? SAMPLE (50 Total) Program Alumni (20 people) Faculty (5 people) Prospective Students (10 people) Current Executives (10 people) Human Resource professionals (5 people) Sample
The Repositioning Process Stage II Research by Assistant Dean with Area Chairs Six (6) Month Dialogue Ensued Prototype Repositioned Curriculum Developed Chairs Accounting and Taxation Communications and Media Management Finance and Business Economics Information Systems Legal and Ethical Studies Management Systems Marketing
The Repositioning Process Research Findings Critical Attributes of Importance Among Sample Program Brand Program Format / Time Away from Office Program Price Alumni Network Recruitment / Admissions Process
The Repositioning Process Stage III Academic Approvals Curriculum Committee Joint Council
The Repositioning Process Final Stage Launch and Metrics
The Good, The Bad and The Ugly Area Chair involvement only (some faculty felt slighted). Overload Dilemma New Program Against Original Strategy Anger Against New Administration
The New Executive MBA Product Change of Model One Weekend per month for 22 months (verse 27 months) One International Trip as Capstone Pedagogical Experience Campus Program with only 3 Conference Center Sessions (greatly reduced costs). 30% Reduction in Tuition
The New Executive MBA Product Change of Focus Still International but with now a Management Development Focus Capstone Management Course---Personal Leadership Development Increased Focus on Admissions Experience and Alumni Events The Experience Economy Strategy includes Wine Tastings, Jazz Simulations, Meditation and a Golf Clinic.
The New Executive MBA Product Results Enrollment at Capacity at 35 Per Class at Lincoln Center Campus New January Start Date at Westchester Campus starting in 2009 Application for program and Alumni Referrals increasing each year. The Wall Street Journal Rankings2008 Ranked 25 th Program Worldwide Ranked 20 th Domestically on ROI
Post Repositioning Strategy Priorities Continue to Recruit Dynamic and Professional Diverse Students Continue to Innovate Non-Academic Experience Continue to Offer Unique Electives Continue to Cultivate Alumni