Innovation Dominates MBAs
Published: September 26, 2012 (Issue # 1728)
In an economy in which businesses have to keep moving in order not to sink below the surface, innovation is the new buzzword in business education programs.
The number and variety of courses offering to teach students how to be innovative in business is increasing rapidly, with such programs being incorporated into the courses offered by traditional universities and business schools with well-established names around the world.
Traditional European and American business schools are keeping pace with the trend by opening innovative divisions in countries such as Singapore, China and India: Asian business schools are becoming more and more popular among students due to the rapid economic growth and development of markets operating in innovative spheres in the region.
Interestingly, innovators are in high demand not only among tech companies and creative industries, but also among traditional financial institutions and government organizations, as new approaches to business, development and commercial ideas are essential for any business nowadays.
“Programs in business innovation are very popular now,” said Anastasia Romanenko, chief marketing officer at Insight Lingua, a company specializing in education abroad. “Business is a very changeable sphere, and education should always be adjusted to new realities.”
Key skills that can be learned by enrolling on innovative programs include how to better manage ideas and knowledge, make strategic decisions and adjust to changeable business realities.
“The majority of programs in innovation are offered at postgraduate level, but there are a lot of short courses designed for acquiring specific qualities and skills or developing a creative mind,” Romanenko said.
Stanford Graduate School of Business, which heads the 2012 Financial Times Global MBA Ranking, offers an academic program titled “Powering Innovation Entrepreneurship” that “provides exposure to both the fundamentals of business and the practical aspects of identifying, evaluating, and moving business ideas forward.” Program participants can choose their campus — either Stanford, Singapore or Beijing.
“Stanford Ignite (an academic program for those developing and commercializing ideas) gives graduate students and graduates in non-business fields the management knowledge and skills they need to become leaders in established and start-up organizations,” says Dean Garth Saloner on the school’s website.
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