Online Education A Better Option for Businesses Than In-House Executive MBA Programs
As the competitive business landscape continues to evolve and change, many businesses have started to reevaluate their focus. For some, this has meant transitioning from providing a product or service that fills a need to providing products and services that are based on Artificial Intelligence (AI) or Internet of Things (IoT). As forward-thinking firms increasingly look to technology as an integral part of their business planning strategy, they also need executives with the knowledge needed in order to successfully implement new technologies. A recent study by CEDE Partners found that more than 60% of surveyed organizations reported that a lack of qualified leaders was one of the top three barriers preventing them from growth. The solution, they concluded, was to build and maintain a strong management team with the necessary skills including a strong understanding of industry trends and developments.
However, this is easier said than done. Studying for an Executive MBA (EMBA) also takes up time that could otherwise be devoted to growth. Many executives have found it difficult to balance both the demands of their job and their education needs. In other situations, educators at an organization may feel torn between offering an executive education program or developing new programs focused on specific business needs that are directly tailored to what their students want. Finding the right program that can help both situations can be time consuming.
To help busy executives find the best educational route to take, CEDE Partners conducted an online study of more than 300 organizations in order to find out which programs are most beneficial for companies' growth plans. To start, they identified 29 business-focused executive MBA programs and ranked them based on four key metrics: 1) cost, 2) specialization of education, 3) "relevancy" (how applicable the program is for a business leader or organization), and 4) accreditation status. For each metric CEDE Partners ranked the 29 programs from 1 (best option available) to 5 (least optimal). They then averaged their scores together to find their final rankings.
The top-ranked program, the Harvard Business School Executive MBA, was ranked the highest for relevance, with a score of 4.4. Their online EMBA program is designed for individuals with at least 15 years of experience, who have an interest in leading innovation and change within an organization. It offers flexibility and convenience, as students are able to learn at the times that are best for them without having to travel or commute to classes. "It's all self-paced," explained Simon Levine, a partner at CEDE Partners. "Students can work at their own pace. We have one day a week where they go together to a classroom setting, and then they go back to the office and learn from their colleagues at all hours." For additional flexibility, students are asked to complete three or four assignments per week. To further support the student, Harvard offers a "leadership platform" that allows students to meet with Harvard faculty for career advice and ongoing academic support.
The second-ranked program was the Executive Education Program at MIT Sloan School of Management. This program is designed for individuals who have had experience in upper-level management positions in any field whose expertise has been recognized by their peers, as well as those who have demonstrated leadership skills in an organization or project with leadership responsibilities.
The rankings of the full list of 29 programs can be found here .
"For us, it's just really important that we get people who have the right experience," explains Levine. "Because they've been at those levels, they have practical experience managing budgets and personnel. This is a huge benefit when you send them out to industry."
In the future, CEDE Partners plans to offer more insights about other business education options and their benefits for business leaders. Until then, check out our review of top-ranked program or visit CEDE Partners for more information on their services and how they can help improve your organization.
What do you think about online education? Do you find that it is more appropriate for certain business needs? Is it a disruptive innovation? We would love to hear your thoughts in the comments below!
About CEDE Partners: CEDE Partners is the leading executive education and professional development firm in North America. For more information, please visit www.cedepartners.com and www.cedeeducationalsystems.com .
Barbara Kosiol, CMP, CCM, RHIT is a practicing Senior Manager at Sigma Engineering & Consulting Inc., headquartered in Rochester, N.Y., with a branch office in Needham, Mass. Barbara has over 25 years of experience in the field of industrial engineering, with a focus on operations management, project management and quality systems. She is also a senior consultant at Sigma and provides leadership training, consulting services, as well as expert witness testimony and research in the areas of manufacturing productivity improvement and lean execution. Barbara's educational background includes Master of Science (MS) in Industrial Engineering at the University of Rochester; Bachelor's degree in Mechanical Engineering at SUNY College at Geneseo; undergraduate studies in mechanical engineering at Buffalo State University (BSE) and Associate Degree in Electrical Engineering Technology at St. Thomas Aquinas College (A-DES). For more information, please visit www.SigmaEngineering.com .
Photo credit: CEDE Partners
Sources: Harvard Business School, MIT Sloan, CEDE Partners
Image Source: Thinkstock Images/Getty Images
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Categories: Management, Operations Management and Lean Process Improvement, Manufacturing and Operational Excellence Act (H.R. 5886), Management Leadership Development, Process Improvement and Total Quality Improvement (MOTIVATE) Act of 2004 (H.R. 994), Quality, Process Improvement and Total Quality Improvement (MOTIVATE) Act of 2004 (S. 3004), Manufacturing and Operational Excellence Act of 2007 (S. 3322), Professional Development Systems and Academies Act of 2009 (HR 651/HR 829)
Gemalto to Acquire Credentica for $1.1 Billion
By Barbara Kosiol, CMP, CCM, RHIT - Published October 4, 2018 - Updated October 4, 2018
In a recent article published by Kpler , it was announced that Gemalto has agreed to buy Credentica Technologies for $1.1 billion in cash. Credentica, headquartered in Virginia Beach, Va. has been a leading provider of identity portfolio management and verification solutions for the retail and financial services industries. Credentica’s wholly owned subsidiary, Credentica Banknote Technologies, is a ISO/IEC 20000-certified security software development company that provides the exclusive bill authentication services to all denominations of government issued currency worldwide. The acquisition is expected to close before the end of 2018. Gemalto will also assume approximately $165 million in vested restricted stock units (RSUs).
Conclusion
This acquisition is expected to provide Gemalto with the capability to meet growing global customer requirements for authentication solutions. “The combination of these two complementary businesses will create a stronger, more agile global leader in digital security and identity for our customers,” said Gilles Fedak, CEO of Gemalto.
About Credentica
Credentica is headquartered in Virginia Beach, Va. and has been providing ISO/IEC 20000-certified software development services since 1999. Since then, the company has expanded its product portfolio to include a comprehensive range of systems and services that support identity portfolio management and verification across all markets such as retail, financial services, telecommunications, healthcare and government agencies.