Looking For Niches In All The Right Places: Designing An MBA Program For The Next Decade

Abstract

In an over-built, mature industry as is graduate management education it is increasingly important that schools find the right niche at which to target their MBA programs. However, the literature is largely silent as to how a school might go about the process of finding the right niche for its MBA. Using gap analysis and data from Occupational Outlook Handbook, we develop a process for identifying future employment trends as a means of identifying promising niches toward which to orient an MBA program. This is an important exercise for those who design MBA programs, especially in light of the AACSB/International’s current focus upon continuous improvement among its member institutions. Even if accreditation standards did not require it, the rapidly changing business climate makes continually upgrading MBA programs a necessity.

Building Bridges To Connect The Disconnects: An Analysis Of Business Program Design Processes

“…Other articles suggest that the lack of relevancy in some business programs is related to an emphasis on research rather than teaching (McKenna, Cotton, and Van Auken, 1995). These articles conclude that this type of research emphasis "has led to a significant and increasing disconnection between the world of management practice, for which most business school students are being prepared, and the world of higher education in which faculty members who teach and research management issues are being prepared, hired, and promoted" (Heskett, 2005;Conger and Xin, 2000;Glaser, 1990;Phelps and Kimball, 1994;and Phelps, Aggarwal, and Taylor, 2006). Some business school deans also point out that business programs are not relevant in meeting employer expectations.…”

“…In addition to using benchmarking techniques for program redesign efforts, some business faculty use gap analysis processes that are in alignment with changing employment opportunities to determine new program development opportunities or to identify program revision initiatives. Some research studies suggest that gap analysis or segment targeting "systematizes the development of a portfolio of skills that are important for business students" (Phelps, Aggarwal and Taylor, 2006). They also conclude that "gap analysis provides a mechanism for monitoring that portfolio currency to be sure the curriculum is always oriented to provide students with skill sets aimed at jobs with the greatest potential for professional growth."…”

“…They also conclude that "gap analysis provides a mechanism for monitoring that portfolio currency to be sure the curriculum is always oriented to provide students with skill sets aimed at jobs with the greatest potential for professional growth." Their research also provided formalization of a focused process that targets areas of employment with the most potential for growth in the future (Phelps, Aggarwal and Taylor, 2006). Additional studies, indicate that business schools are finding it necessary to more clearly focus their programs in order to succeed in a more competitive environment and that some schools have increased their applications through adoption of more focused programs (Gerdes, 2005).…”

“…This step in the process helped the design team to determine which business programs would be the most effective in addressing their students" needs for those who are continually seeking employment within the local community. Previous research in this area referenced this process as gap analysis which focused primarily on an analysis of national employment projections (Phelps and Kimball, 1994;Phelps, Aggarwal, and Taylor, 2006). However, this study recommends an extension of this analysis to include regional and local employment projections because these projections may vary when compared to national projections.…”