Maximizing Millennials: The who, how, and why of managing Gen Y — from onlinemba.unc.edu posted by jherbst

 
Gen Y In the Workplace Via MBA@UNC
Via MBA@UNC Online Business Degree & The YEC

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http://www.fastcoexist.com/1680196/a-new-education-for-business-leaders-for-a-new-future

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This is because education is shifting from a focus on what works for teachers to a focus on what students need to succeed and thrive.

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Online MBA 2012 Listing [Financial Times]

Online MBA 2012 Listing — from ft.com

 

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Woods Bagot - The business school -- issues for a new future - February 2012

Stopping the ‘brain drain’ of the U.S. economy — from NPR

Excerpts:

“The problem is that when you’ve got 20 to 30 percent of some of the top talent in this country going into a sector that is not necessarily contributing to economic and social productivity,” he says. “That’s a problem for the country at large and it’s something that we should all be concerned about.”

Economist Paul Kedrosky with the Kauffman Foundation says elite schools sending a bigger share of their graduates into finance and consulting is not new; they’ve been doing it for at least two decades.  Kedrosky tells NPR’s Raz that what’s different now is that those students have essentially used their talents to grow the financial sector in ways that are unhealthy for the overall economy.

From DSC:
Some relevant scripture comes to my mind — which I, myself, also have to reckon with (these are hard teachings, especially in this day in age…but on second thought, in any age for us humans)

Matthew 6:21: (NIV)

For where your treasure is, there your heart will be also.

No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money.

Enter through the narrow gate. For wide is the gate and broad is the road that leads to destruction, and many enter through it.

For the word of God is alive and active. Sharper than any double-edged sword, it penetrates even to dividing soul and spirit, joints and marrow; it judges the thoughts and attitudes of the heart.

Psalm 33:4-5 (NIV)

“For the word of the LORD is right and true; He is faithful in all He does. The LORD loves righteousness and justice; the earth is full of His unfailing love.”

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From DSC:
One last, relevant reflection here…

I’ve been wondering about the place of the heart when it comes to capitalism. I was listening to Gary Hamel earlier today — Gary is author of the new book, What Matters Now (thanks to Daniel Pink’s Office Hours) and one of the items Gary mentioned was the need for a moral renaissance in business today.  The comments were that:

  • Capitalism requires that the most powerful players act as guardians, stewards, and are accountable, equitable, and charitable; they can and do deny their self;  leaders must see themselves as stewards instead of just maximizing short-term gains
  •  Without those morals, there is egregious behavior
Bottom line:
Values and principles are key to our economy and our nation.
Relevant graphic:

 

 

Addendum on 3/1/12 pointing to the relationship and relevancy of our hearts as they relate to capitalism:

IBM sends Watson supercomputer to business school – from wired.com by Eric Smalley

 

IBM's Watson takes on Harvard and MIT students.

Excerpt:

There have been four waves of technological innovation that disrupted the labor market over the last two and a half centuries starting with the Industrial Revolution, and we’re beginning the fifth, said IBM Chief Economist Martin Fleming. “We’re now beginning to enter into, in my view, a period where the economy is beginning to open up opportunities for the deployment of very significant innovation … We’re going to see many new industries get created, radical new technologies being deployed, but being deployed in the context of new business models,” he said.

“This will have significant implications from an income and income distribution point of view.”

The MIT economists generally agree that we’re at the beginning of a technology-driven shift in the economy and ultimately the labor market will adjust. But no one had any good news for workers in the middle of economy during the transition. “The future is already here in many ways, in terms of what technology can do,” Brynjolfsson said. “But right now the benefits are not very evenly distributed.”

Apple University will train executives to think like Steve Jobs — from good.is by Liz Dwyer

Excerpt:

If you want to honor Steve Jobs’ life by following in his entrepreneurial footsteps, forget heading to business school. The Los Angeles Times reports that an Apple team has been working on a top-secret project to create an executive training program called Apple University. The goal? To train people to think like Steve Jobs.

Apple refused to comment on the existence of Apple University, but the Times says that in 2008, Jobs “personally recruited” Joel Podolny, the dean of Yale Business School, to “help Apple internalize the thoughts of its visionary founder to prepare for the day when he’s not around anymore.” Apple analyst Tim Bajarin told the Times that, “it became pretty clear that Apple needed a set of educational materials so that Apple employees could learn to think and make decisions as if they were Steve Jobs.” Though the curriculum is still under wraps, Jobs himself oversaw the creation of the “university-caliber courses.” (emphasis DSC)

 Also see:

 

Steve Jobs’ virtual DNA to be fostered in Apple University:  To survive its late founder, Apple and Steve Jobs planned a training program in which company executives will be taught to think like him, in “a forum to impart that DNA to future generations.” Key to this effort is Joel Podolny, former Yale Business School dean.
Photo: Steve Jobs helped plan Apple University — an executive training program to help Apple carry on without him. Credit: Michael Robinson Chavez / Los Angeles Times

Steve Jobs helped plan Apple University — an executive training program to help
Apple carry on without him. (Michael Robinson Chavez / Los Angeles Times / October 6, 2011)

From DSC:
If Apple were to choose to disrupt higher education, several other pieces of the puzzle have already been built and/or continue to be enhanced:

  • Siri — a serious start towards the use of intelligent agents / intelligent tutoring
  • An infrastructure to support 24x7x365 access and synchronization of content/assignments/files to a student’s various devices — via iCloud (available today via iTunes 10.5)
  • iTunes U already has millions of downloads and contains content from some of the world’s top universities
  • The internal expertise and teams to create incredibly-rich, interactive, multimedia-based, personalized, customized educational content
  • Students — like employees in the workplace — are looking for information/training/learning on demand — when they need it and on whatever device they need it
  • Apple — or other 3rd parties — could assist publishers in creating cloud-based apps (formerly called textbooks) to download to students’/professors’ devices as well as to the Chalkboards of the Future
  • The iPad continues to be implemented in a variety of education settings, allowing for some seriously interactive, mobile-based learning

 

 

 

 

At the least, I might be losing a bit more sleep if I were heading up an MBA program or a business school…

 

From DSC:
How is it that corporations are sitting on trillions of dollars (estimates vary) but the unemployment rate continues to be towards the high end of historical unemployment rates? Where’s the love and compassion for one’s fellow man? (Some of Charles Dickens’ writings in The Christmas Carol come to my mind here…)

One has to ask, what’s the state of our hearts these days? Is business just about serving the almighty shareholder? Is that the ultimate goal of our businesses? Seriously…what percentage of Americans is that perspective currently benefiting? (I don’t have the answer/data, but I bet its not a majority of Americans. The lines at the soup kitchens and shelters are getting longer, not shorter.)  Corporations have — today — the power to change the situation.  But what’s the ultimate vision of our corporations?  Who do our corporations ultimately serve?

 

The State of the Heart

Some relevant articles:

  • Corporate profits at all-time high as recovery stumbles (March, 2011, The HuffingtonPost.com)
    NEW YORK — Despite high unemployment and a largely languishing real estate market, U.S. businesses are more profitable than ever, according to federal figures released on Friday. U.S. corporate profits hit an all-time high at the end of 2010, with financial firms showing some of the biggest gains, data from the federal Bureau of Economic Analysis show. Corporations reported an annualized $1.68 trillion in profit in the fourth quarter. The previous record, without being adjusted for inflation, was $1.65 trillion in the third quarter of 2006. Many of the nation’s preeminent companies have posted massive increases in profits this year. General Electric posted worldwide profits of $14.2 billion, while profits at JPMorgan Chase were up 47 percent to $4.8 billion.
  • Remarks by the President to the Chamber of Commerce — President Barack Obama (February 7, 2011 from U.S. Chamber of Commerce Headquarters, Washington, D.C.)
    “So if I’ve got one message, my message is now is the time to invest in America.  Now is the time to invest in America.  (Applause.)  Today, American companies have nearly $2 trillion sitting on their balance sheets.  And I know that many of you have told me that you’re waiting for demand to rise before you get off the sidelines and expand, and that with millions of Americans out of work, demand has risen more slowly than any of us would like.”
  • Hoarding, not hiring – Corporations stockpile mountain of cash (April, 2010, ABCNews.com)
  • U.S. firms build up record cash piles (June 2010, WSJ)
  • Corporate America sitting on $1 trillion in cash ($2 trillion if you count short-term investments) (Dec. 2010 from JoshuaKennon.com)

    What does that mean?  It means that when the fear subsides, and companies are convinced that the world is all sunshine and roses, the turnaround can be rapid.  Putting $1 trillion of cash to work in the economy, whether in the form of new product launches, capital expenditures, or even mergers and acquisitions paying off investors for their shares of companies and forcing them to find another use for their newly freed funds, can go a long way to solving the unemployment figures.

 

Addendum on 10/4/11 to potentially address a part of the other side of the table here:

Evolution of the MBA [via MBA@UNC]

Evolution of the MBA via MBA@UNC

Via MBA@UNC Online MBA Program

— From Harrison Kratz, Community Manager, MBA@UNC

 

If it feels right … — opinion piece from the New York Times by David Brooks

Excerpts:

 During the summer of 2008, the eminent Notre Dame sociologist Christian Smith led a research team that conducted in-depth interviews with 230 young adults from across America. The interviews were part of a larger study that Smith, Kari Christoffersen, Hilary Davidson, Patricia Snell Herzog and others have been conducting on the state of America’s youth.

What’s disheartening is how bad they are at thinking and talking about moral issues.

But they just don’t have the categories or vocabulary to do so.

When asked to describe a moral dilemma they had faced, two-thirds of the young people either couldn’t answer the question or described problems that are not moral at all, like whether they could afford to rent a certain apartment or whether they had enough quarters to feed the meter at a parking spot.

“I don’t really deal with right and wrong that often,” is how one interviewee put it.

Also see:

Moralistic therapeutic deism
The authors find that many young people believed in several moral statutes not exclusive to any of the major world religions. It is this combination of beliefs that they label Moralistic Therapeutic Deism:

  1. A god exists who created and ordered the world and watches over human life on earth.
  2. God wants people to be good, nice, and fair to each other, as taught in the Bible and by most world religions.
  3. The central goal of life is to be happy and to feel good about oneself.
  4. God does not need to be particularly involved in one’s life except when God is needed to resolve a problem.
  5. Good people go to heaven when they die.

These points of belief were compiled from interviews with approximately 3,000 teenagers.[4]

From DSC:
But don’t worry or lose any sleep or anything…these are the people who will be out on Wall Street or in the big banks (who are too big to fail) — and they’ll be carefully watching over the nest eggs that it took you 30-40 years to build. (Yeah, right…)

Or…these are the folks who you will be trying to do business with…where will the speed of trust be then? I don’t mean to point the finger at the youth…the problem is with us adults. We model or teach — or choose not to model and teach — the youth.

 

Addendum on 9-15-11:


 

Reinventing the Technology of Human Accomplishment — by Gary Hamel; from the University of Phoenix Distinguished Guest Video Lecture Series.

From DSC:
No matter whether you agree with what Gary is saying or not, can you imagine if every lecture contained this type of team-based assistance in creating the motion graphics, recording the video, editing the video, executing proper sound design principles, etc.? Most likely such an endeavor would be more achievable/successful when producing content in a controlled, studio type of environment — and then presenting it online (vs. trying to do this in front of a live classroom/audience/face-to-face.)

Anyway, very powerful communication channels here! Excellent use of motion graphics to backup his message. A transcript with bolded headings and colored main points would be great too. By the way, wouldn’t it be cool for “call outs” to appear — somewhat in an augmented reality sort of way — when a main point was just made?!


Gary Hamel -- Reinventing Managment for the 21st Century

Description of video:
Watch Gary Hamel, celebrated management thinker and author and co-founder of the Management Innovation eXchange (MIX), make the case for reinventing management for the 21st century. In this fast-paced, idea-packed, 15-minute video essay, Hamel paints a vivid picture of what it means to build organizations that are fundamentally fit for the future—and genuinely fit for human beings. It’s time to radically rethink how we mobilize people and organize resources to productive ends. Here’s how we start.

This video is an excerpt from the University of Phoenix Distinguished Guest Video Lecture Series.

 

Sample screen shots:


 

 

 

 

 


From DSC:
Again, can you imagine the bump in engagement/attention spans if a faculty member could be backed up by these types of motion graphics!?

 

From DSC:
I realize that many of the for-profits are already using teams of specialists…but many others are not.

 

–Originally saw this at the
Higher Education Management blog by Keith Hampson

 

Originally saw this at:
BizDeansTalk.net

 

From DSC:
I appreciated the variety of clever interface elements at play here. Worth checking out just from an interface design standpoint, if not from a standpoint of relaying/processing information in a creative way (as well as discerning the critical business-related items/decisions).

 

 

 

 

MBA Curriculum Changes: Wharton, Yale, and Stanford Lead the Pack — from knewton.com by Christina Yu

Excerpt (citing article from a  U.S. News article):

“Rather than consider pre-digested summaries of company situations, students tackle ‘raw cases’ packed with original data. Instead of being presented with an income statement, for example, they must mine the considerably bulkier annual filing to the Securities and Exchange Commission for data. The raw cases ‘push us to understand,’ says second-year Yale student Jason Hill. ‘They purposely put in more material than you could ever look at, but you have to learn where to look.’” (emphasis DSC)

From DSC:
I found this to be a good, interesting post. I just had a couple of thoughts that I wanted to throw out there re: it.

In looking at trends from an 80,000-foot level, I’d vote for MBA programs integrating much more of the tech-know-how — and/or appreciation of what technologies can bring to the table — as well as teaching grad students about some of the tools/technologies that are emerging these days (and I’d bet that the leaders/schools mentioned in this article are already doing this) .

I remember an instructor years ago — at SFSU’s MSP Program — saying that bots and agents will be the key to making decisions in the future, as there will be too much information for a person to sift through. The streams of content need to be tapped — but in efficient ways. So perhaps the logical step here is for MBA students to learn what bots/agents are, how to use them, and what their applications might be in making business/strategic decisions.

The most successful organizations of the future will be well-versed in technologies and what the applications/benefits of these technologies are. My bet? If you don’t have a technologist at the power table of your organization, the outlook doesn’t look very bright for your organization in terms of surviving and thriving in the future. Organizations will also need to be willing to take risks and move forward without having a full cost-benefit analysis done — as many times these don’t work well or are not even possible when implementing tech-based endeavors/visions.

Also relevant here:

 

The pace has changed -- don't come onto the track in a Model T

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From DSC:
If you doubt that…read on…

The New Normal: Universities Sponsoring Online High Schools — from EdReformer.com

K12 announced today that they are partnering with George Washington University to launch The George Washington University Online High School. This private high school will serve students from the US and countries around the world January 2011.

Students are constantly trying to find options that will set them apart from others and participating in this rigorous college preparatory program could be the key. In addition to the curriculum, students who attend an online high school connected to a University such as GWUOHS will have college counseling, personalized learning tools, test preparation, even guidance through the scholarship process.

GWU is not the only university sponsoring online high schools. Stanford has the EPGY Online High School. University of Missouri High School and The University of Oklahoma offer year-round and dual enrollment courses. Whether public or private schools, the possibilities are endless for students. Training for sports, starting a business, volunteering, working in the arts,  all can become easier by signing in to your online courses from the nearest computer.

Through major universities in partnership with online providers, students are reaping the benefits of university resources online high schools. It is interesting that we do not see this type of partnership more often.

MIT tries new approach for some OpenCourseWare (OCW) — from The Chronicle by Jeff Young

New MIT OpenCourseWare Initiative Aims to Improve Independent Online Learning — from the NYT by Aurey Watters of ReadWriteWeb

MIT OpenCourseWare is launching five new courses today that mark a new model for one of the world’s premier open educational resources. These OCW Scholar courses are designed for use by independent learners, and like the other material made available through MIT OCW, are freely available for anyone to pursue. These aren’t distance learning classes – there is no instructor, no contact with MIT, no credit. But the courses are meant to be stand-alone offerings, not requiring any additional materials for learning.

Technology Empowering Online Learning at Post-Secondary Level — from TMCNet by Beecher Tuttle

Times have changed, however. With lower budgets, limited physical space and new insight into the effectiveness of online learning, a myriad of highly regarded public and private colleges and universities have begun transitioning their curriculum to a digital world. In fact, the University of North Carolina at Chapel Hill, one of the most well thought-of state institutions on the East Coast, recently announced its plans to offer its prestigious MBA program completely online. The business school’s dean told Mashable that the university made the move because it did not see online learning as a lesser form of education, if delivered properly.

Quick aside from DSC:

Re: that last sentence…please…let’s stop asking the question if online learning is as good as face-to-face learning. That question has been answered time and again.

The question now is, how will face-to-face learning begin to keep up and measure up to online learning as online learning begins to hit its real stride? We haven’t seen anything yet; and at this point, innovation is happening at much faster speeds in the online world. Those professors, teachers, and trainers used to working solely in the face-to-face teaching and learning environments better really start asking themselves how they will innovate, and how they will respond to the K-12 students (and employees) that are  changing right in front of our eyes!

New Web Venture Offers ‘Syndicated Courses’ — from The Chronicle by  Tusher Rae

Omnicademy, a for-profit institution conceived at Louisiana State University, hopes to allow professors to syndicate their courses this fall.

The company’s system will let professors upload material from courses they’re already teaching and offer the courses to students at other colleges through the Omnicademy site, said the company’s founder, Stacey Simmons, associate director for economic development at Louisiana’s Center for Computation and Technology.

Universities can review the courses and decide which ones they want to adopt and offer credit for. When students log into Omnicademy—using a .edu e-mail address—they will only be allowed to select from courses that have been approved by their institution.

If a student wishes to take a course offered through Omnicademy that is not on the list approved by his or her university, Omnicademy will negotiate on behalf of that student with the university, Ms. Simmons added.

2020 Vision — from neXtedu

The MEGATRENDS I see changing the Education Industry are:

1) The Knowledge Economy:
Prediction:  By 2020, Assessment becomes the currency for the Knowledge Economy, not where you went to school.  In other words, opportunity will truly be driven by what you know, not by where your degree is from.

2) Globalization:
Prediction: By 2020, there will be Global Schools like Avenues and Mosaica in the primary and secondary market and an acceleration of Global Universities will be driven by online offerings.  Moreover, study abroad will become a standard part of a college education (up from 1% of the students currently) and will even be an important feature for top-tier private K-12 schools.

3) The Internet: …Web 2.0 is truly about “democratizing” education, not only increasing access and lowering cost but also improving quality.
Prediction: By 2020, all college students will have a “blended” or “hybrid” learning experience, as will nearly all high school students.  Virtual School operators such as K12, Connections Academy and Florida Virtual have millions of students and Arizona State University Online becomes the largest University in the World.  The information that is made readily available by new media education sites such as Center for Education Reform’s “Media Bullpen” and the Education Breakthrough Network create a “dismantling of the Berlin Wall” moment for school choice, with a flood of opportunities coming to parents and students throughout the United States.

4) Outsourcing:
Prediction: By 2020, students in Charter Schools will have more than tripled from 3% to 10% of America’s student body, and it will become standard to integrate specialists, from foreign languages to mathematics, into the “traditional” school. Teach for America becomes a “for profit” as does KIPP, eliminating the ongoing need to raise tens of millions of dollars every year and instead utilize investor capital to sustain and grow their businesses.  I predict over 25% of Universities will have partnerships with outsourced providers to manage their online offering.  Several states will decide to “privatize” their public university system.

5) Consolidation:
Prediction: By 2020, the trend of less power and money from local coupled with a rationalization of the market will see many districts consolidate under either regional or state governance.   As many as 1/3 of the private colleges and universities will either “merge” with other universities or go away.

6) Demographics:
Prediction: By 2020, Education is the #1 national issue driven by minorities understanding that equal access to education is key to their future — and zip code shouldn’t determine a student’s earnings power.  Early stage childcare becomes much more of a national priority with leaders such as Bright Horizons being the model for how corporations and parents work together to provide the early learning needed to be “school ready”.  Gaming will be a standard component of core curriculum and supplementary learning with companies like Dreambox, Tabula Digita , Knewton and Grockit creating powerful adaptive platforms.

7) Network Effects:
Prediction:  By 2020, large learning networks are created in K12, Higher Ed and the Corporate Marketplace driven by gigantic network effects.  Platforms that support “apps” such as digital content, assessment, and social collaboration are supported by three or four large players.

8)  Freemium:
Prediction:  By 2020 some of the largest education companies will be “freemium” models with revenues driven by premium services, sponsorships and ads.  In a world where “assessment is the currency” for opportunity, freemium models that deliver high value knowledge at no cost or a fraction of the cost (like Academic Earth) will be very disruptive to high cost providers.

9) Open:
Prediction:  By 2020, most colleges and universities have abandoned their captive LMS and have adopted open solutions, and service providers such as RSmart and Moodle Rooms are thriving.

10) Brands:
Prediction:  By 2020, institutions with substantial brand equity will have multiple partners to leverage into cash to supplement endowments and flattish tuitions.  As with case studies from other sectors that have created network effects with freemium models, GLOBAL MEGABRANDS will be created with a number of education companies obtaining $10 billion plus market caps.

Arizona State University’s Education Innovation Network

The Education Innovation Network is an open innovation platform where entrepreneurs can find the resources to validate concepts, accelerate growth and reach transformative scale.

From DSC:
Again…do you hear the waves of change crashing on our shores? Do you sense the increased speeds of the “cars on the racetrack”?

© 2024 | Daniel Christian