Asian schools itself in the art of business(2)

Regional MBA programs shine as demand for education soars

- Have you ever thought about singing up for Asian business schools including Korean schools? If so, why? If not, why?

- How do you see the future of Asian business schools? What would be your recommendation for MBA programs in the region?

Based upon our discussion so far, let us move on to debates on how useful MBA programs may be to your career. Are you for or against advancing to business schools? Please share your ideas on MBA education.

Heightening Work Experience and Bringing New Opportunity(5)

Heightening Work Experience and Bringing New Opportunity

And it is non other than catching up with the most recent trend of advanced MBA education in the world. If not staying in Hawaii, I probably can’t have this persuasive view. Not only for articles, but also for brainstorming and daily conversation at work, the role of EWKLP training means a lot and makes me to intellectually grow as time goes by. 

And needless to say, it distinguished me from other Korean journalists who covered similar area with me. After reading my unusual but sophisticated articles, colleagues both at my organization and other companies asked me what’s secret of my excellent coverage. 

Heightening Work Experience and Bringing New Opportunity(4)

Heightening Work Experience and Bringing New Opportunity

My column on MBA education will be a model example. In the column, I overlooked where Korean MBA schools are at this moment. And I emphasized the significance of timely MBA education, insisting "MBA schools should be places where students can learn what the society wants contemporary. MBA curriculums should reflect what the market eagerly demands, to name a few, green growth, NGO(Non-Governmental Organization) management." 

Honestly speaking, I got this idea thanks to the experience in Hawaii. Lectures and course works at JAIMS did stress what MBA education should be like. The lesson is that MBA education basically shouldn't be theory-oriented. But it’d better focus on practices and 'Genba', which implies the curriculum would be consist of subjects that can digest various interests from the outside world. This point of view can be supported by students' high remarks on some classes such as professor Kobayashi, professor Kotabe and Mr. Larry Smith.

Broadening Global Horizon and Establishing Rich Friendship(6)

Broadening Global Horizon and Establishing Rich Friendship

In this time of economic downturns when CEOs (Chief Executive Officer) seek more business opportunities from liberal arts, non-business curriculums made EWKLP classes richer and richer. Moreover, the fact that not all instructors are full-time professors rings a big bell to me. Some instructors are involved in real business practices such as consulting, leadership and legal industries. Also, some of the guests run their own business globally. 

In that even full-time MBA education pays more and more attention on real work experience these days, through non-academic instructors, delivering the hot issues of the outside world is remarkable merits of EWKLP. In doing so, not only EWKLP succeeded in differentiating itself from similar scholarship programs, but also students could balance between the 'Gemba' and textbook theories and models as a professor Ikujiro Nonaka pointed out during his class. These lessons approached me as something more global, timely and practical.

Improving the Quality of MBA Education in Korea, Japan and China(12)

Improving the Quality of MBA Education in Korea, Japan and China - Integrating East & West

Starting Korea, our first action plan is to underscore the importance of Eastern-Western value integrated MBA education in the academic and corporate sector by all means. Then, we will propose the new MBA education model to schools, companies, Ministry of Education of each country and contact companies to join the new MBA curriculum launch and support the schools at the same time. 

Throughout all these efforts, if students will have more skills, expertise to increase productivity and will be more rounded globally and companies will also have greater competitive advantages, we can dare to say our model for innovation, the brand-new MBA education model, succeeds in adding values to the stakeholders of MBA education in Korea, Japan and China.

Improving the Quality of MBA Education in Korea, Japan and China(11)

Improving the Quality of MBA Education in Korea, Japan and China - Integrating East & West

If ideas suggested above come true, enormous synergy effects can be anticipated. Shown as a spiral in the SECI model, stakeholders of MBA education, students, schools and companies will be surely satisfied with the brand-new MBA education model. By exchanging human talent, financial support and further developing co-project and consulting, model for innovation will pave the new way for the future of MBA education in Korea, Japan and China. 

Against this background, it will not be a wishful thinking anymore for Asian MBA schools to list their names on the top of the global MBA rankings. For that, we will not just sit idle. No matter how difficult it would be, we are going to try our best to realize our suggestions in all three countries.

Improving the Quality of MBA Education in Korea, Japan and China(10)

Improving the Quality of MBA Education in Korea, Japan and China - Integrating East & West

In this regard, MBA schools should listen to corporate voices and be ready to adapt to changes. Master of Business and Engineering Program of Steinbeis University in Germany can be a good role model for Asian MBA schools. 

At Steinbeis University, students are admitted to school upon the corporate requests and sponsoring companies pay the student’s tuition in return for comprehensive study on specific projects of importance to them. As a result, after a one year intense curriculum and additional focus on the above specific projects, the student would return to the company armed with practical knowledge especially on those targeted projects.

Improving the Quality of MBA Education in Korea, Japan and China(9)

Improving the Quality of MBA Education in Korea, Japan and China - Integrating East & West

In that Korea, Japan and China is located close to each other, MBA schools in three countries have great advantage to provide comprehensive curriculum.

In this sense, BESETO program, a North-East Asian university belt for strengthening relationship among Beijing (Peking) University, Seoul National University and Tokyo National University, is required to be more activated. Nobody will dispute that MBA schools primarily exist for practical education.

Improving the Quality of MBA Education in Korea, Japan and China(8)

Improving the Quality of MBA Education in Korea, Japan and China - Integrating East & West

Moreover, when it comes to class profile, apart from the Asian student dominant class, the number of non-Asian students is better to reach half. This is no exception to faculty profile. According to the 2009-2010 global MBA program of College of Business at Seoul National University, 48 out of 49 full-time professors are Western Ph.D. But to integrate East and West, around 30% should be Asian Ph.D. professors. 

Of course, Eastern-Western value integration is not enough to fully improve the quality of MBA education in Korea, Japan and China. We also need additional initiatives, to name a few, active globalization, regional cooperation, practical and timely education. Going without saying, more English class and profile diversity is a must to most Asian MBA schools for real globalization.

Enhancing the Quality of MBA Education in Korea, Japan and China(7)

Improving the Quality of MBA Education in Korea, Japan and China - Integrating East & West

Last but not least, inducing western applications to Korean, Japanese and Chinese MBA schools is of great significance. It is basically because Asian value needs be passed to Western students so that they can broaden or deepen their horizon in Asian context. However, it is also true that we still need Western value in many ways. 

Thus, the ideal model of Asian MBA education can be achieved by balancing Western curriculum with newly-introduced Eastern curriculum. For example, existing subjects such as international strategy, management information system and new subjects such as Confucianism and Buddhism, both of them should make their presence.

Enhancing the Quality of MBA Education in Korea, Japan and China(6)

Improving the Quality of MBA Education in Korea, Japan and China - Integrating East & West

Under this circumstance, integrating Eastern & Western values into MBA education through active Asian-value reflection should be done in no time. First of all, Asia-specific classes such as Confucianism, Buddhism, Asian language and history need be opened. In doing so, Asian MBA schools can deliver values such as social responsibility, ethics and community spirit. 

In addition, more case studies, especially about new and joint ventures that are so prevalent as China develops, are powerfully required. Students can learn Korean IT industry, Japanese management style and Chinese manufacturing sector in depth. Furthermore, faculty members with Asian backgrounds should be recruited to some extent. Without Asian Ph.D. professors, active Asian value reflection will be a wishful thinking.

Enhancing the Quality of MBA Education in Korea, Japan and China(5)

Improving the Quality of MBA Education in Korea, Japan and China - Integrating East & West

Thus, if timely and properly changed, Asian MBA schools can even suggest a new education model. Then, companies, one of the biggest stakeholders of MBA education, can place themselves in the high interest and high power square of Stakeholder analysis. In other words, corporate responses would be moved from the present 'Indifference' to the future 'Active Recruitment'. 

Contextual background of various countries by Geert Hofstede also implies that Korea, Japan and China, as the most high context nations which underline righteousness and strongly want their faces saved, desperately need different types of MBA education with remarkable emphasis on Asian value.

Enhancing the Quality of MBA Education in Korea, Japan and China(4)

Improving the Quality of MBA Education in Korea, Japan and China - Integrating East & West

In fact, general analysis of 13 Korean, 29 Japanese, over 45 Chinese schools (defined as professional schools with full-time MBA programs) supports our idea. SWOT analysis indicates that western-oriented curriculum such as marketing, financial accounting, organizational behavior and insufficient globalization and lack of practical education constitutes the weakness of Asian MBA schools. 

However, at the same time, Asian MBA schools also have a life-time chance. With the rapid growth of Eastern economy and subsequent highlights on Eastern value, they draw more and more attention from all over the world.

Enhancing the Quality of MBA Education in Korea, Japan and China(3)

Improving the Quality of MBA Education in Korea, Japan and China - Integrating East & West

In fact, deans of top Korean and Japanese business schools shared this idea when they discussed the future of Asian MBA schools last August. Taeshik Ahn, dean of the College of Business at Seoul National University of Korea said the desirable MBA education is to highlight both talent and co-existence. 

He added that a MBA school must be a place where students can learn not only knowledge but also life. Hirotaka Takeuchi, dean of the Graduate School of International Corporate Strategy at Hitotsubashi University of Japan, showed similar opinions as well. 

He stressed that leaders should be equipped with ethics and cultural diversity. He further developed his argument that the core competitiveness of Asian business schools lies in delivering these values to students.

Enhancing the Quality of MBA Education in Korea, Japan and China(2)

Improving the Quality of MBA Education in Korea, Japan and China - Integrating East & West

Negative point of view is also found out even inside the academic field. For example, Ikujiro Nonaka, a professor at JAIMS and one of the most influential scholars in the management academy, claims that professors do not know the real business world. He went on saying that professors tend to focus on abstract theories and models without enough hands-on experiences. 

However, we insist that an Eastern-Western value integrated MBA education would be a competitive advantage to companies, particularly in Asian context. And the integrated MBA education could raise their value within companies consequently.

Enhancing the Quality of MBA Education in Korea, Japan and China(1)

Improving the Quality of MBA Education in Korea, Japan and China - Integrating East & West

It is little doubt that MBA (Master of Business Administration) education is important to business people. It is because MBA education can help students develop career, expand network, go through global experience, start new business and broaden horizon. 

However, there is some criticism of MBAs from the corporate side, especially during economic downturns. Critics point out that most MBA education is not worthy of investing huge amount of money and time. 

They argue that MBA education fails to bring whatever value companies eagerly want to get although snowballing number of students fly to American or European MBA schools to study year by year.

Broadening global horizon and building up rich friendship(7)

Broadening global horizon and building up rich friendship

In that even full-time MBA education pays more and more attention on real work experience these days, through non-academic instructors, delivering the hot issues of the outside world is remarkable merits of EWKLP. 

In doing so, not only EWKLP succeeded in differentiating itself from similar scholarship programs, but also students could balance between the 'Gemba' and textbook theories and models as a professor Ikujiro Nonaka pointed out during his class. These lessons approached me as something more global, timely and practical.

Secondly, I'd like to make special comments on friendship. In the individual page of the yearbook, I wrote down, "Let's keep our thicker-than-blood friendship for good!" Truly speaking, it is exactly what I felt from the 19 dear classmates.

Enriching Work Experience and Bringing New Opportunity(3)

Enriching Work Experience and Bringing New Opportunity(3)

And it is non other than catching up with the most recent trend of advanced MBA education in the world. If not staying in Hawaii, I probably can’t have this persuasive view. Not only for articles, but also for brainstorming and daily conversation at work, the role of EWKLP training means a lot and makes me to intellectually grow as time goes by.

And needless to say, it distinguished me from other Korean journalists who covered similar area with me. After reading my unusual but sophisticated articles, colleagues both at my organization and other companies asked me what’s secret of my excellent coverage. 

Whenever it happens, looking back on good days in Hawaii, I smiled with pride and explained them the tacit knowledge. In doing so, what I learned at JAIMS will be penetrated into the entire Korean media industry and play crucial roles in enhancing the quality of articles and even spreading the importance of knowledge management into all sectors of the Korean society. 

In addition, EWKLP brings me new opportunities, which was not easy or time-taking to get before. After returning to work, out of the blue, I was assigned to a newly-lunched department of my company, 'Corporate Management Section'. The new section covers corporate success or failure stories, global business trend and interviews with academic or corporate gurus in the business field.

Improving the Quality of MBA Education in Korea, Japan and China(4)

Improving the Quality of MBA Education in Korea, Japan and China(4) - Integrating East & West

Last but not least, inducing western applications to Korean, Japanese and Chinese MBA schools is of great significance. It is basically because Asian value needs be passed to Western students so that they can broaden or deepen their horizon in Asian context.

However, it is also true that we still need Western value in many ways. Thus, the ideal model of Asian MBA education can be achieved by balancing Western curriculum with newly-introduced Eastern curriculum. For example, existing subjects such as international strategy, management information system and new subjects such as Confucianism and Buddhism, both of them should make their presence.

Moreover, when it comes to class profile, apart from the Asian student dominant class, the number of non-Asian students is better to reach half. This is no exception to faculty profile. According to the 2009-2010 global MBA program of College of Business at Seoul National University, 48 out of 49 full-time professors are Western Ph.D. But to integrate East and West, around 30% should be Asian Ph.D. professors.

Of course, Eastern-Western value integration is not enough to fully improve the quality of MBA education in Korea, Japan and China. We also need additional initiatives, to name a few, active globalization, regional cooperation, practical and timely education. Going without saying, more English class and profile diversity is a must to most Asian MBA schools for real globalization.

Improving the Quality of MBA Education in Korea, Japan and China(1)

Improving the Quality of MBA Education in Korea, Japan and China(1) - Integrating East & West

It is little doubt that MBA (Master of Business Administration) education is important to business people. It is because MBA education can help students develop career, expand network, go through global experience, start new business and broaden horizon.

However, there is some criticism of MBAs from the corporate side, especially during economic downturns. Critics point out that most MBA education is not worthy of investing huge amount of money and time. They argue that MBA education fails to bring whatever value companies eagerly want to get although snowballing number of students fly to American or European MBA schools to study year by year.

Negative point of view is also found out even inside the academic field. For example, Ikujiro Nonaka, a professor at JAIMS and one of the most influential scholars in the management academy, claims that professors do not know the real business world. He went on saying that professors tend to focus on abstract theories and models without enough hands-on experiences.

However, we insist that an Eastern-Western value integrated MBA education would be a competitive advantage to companies, particularly in Asian context. And the integrated MBA education could raise their value within companies consequently.