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MBA programs in 2008 and 2009 saw a drastic shift from the traditional setting to more of an unconventional degree route.  MBA programs now cater to a different type of student, one who is prepared not to break into the Wall Street crowd and had discovered new alternatives for a business degree.  As a result of this shift, online MBA programs have been forced to re-evaluate their degree programs as well, resulting in a more well-rounded curriculum throughout the online MBA community. 

Because the economy has changed in such a drastic manner, MBA programs have been forced to evolve with the economy since many of their potential students rely on the economic factor of business degrees.  As a result, the top online MBA programs have begun to include courses and specialties in independent business, eco-friendly business, and many other seemingly unconventional classes.  However, once students take these courses, it seems strange to them that they were never previously offered at schools, especially when such classes seem highly valuable for any business student, regardless of their economic predicament. 

Eco-friendly courses have contributed to the rise of the top online MBA programs, as every niche in the business world is beginning to evaluate how “green” their companies are in an effort to jump the gun before environmental measures come into effect.  These courses teach students the value of environmentally sound corporations, and attempts to instill a new responsibility onto potential future CEOs.  This thought has begun to ripple within the MBA community as more and more prominent traditional schools have re-evaluated their programs to incorporate more “green” courses, taking notes from foreign corporations.

Running your own business has begun to be a career goal for many MBA students in light of the economy’s downturn.  Because Wall Street positions are no longer as stable as they once appeared to be, and other business positions are difficult to find, more students are opting instead to fulfill a lifelong dream of owning their own business.  Many courses now cater to this type of student and teaches them the specifics of running their own business, rather than previous classes which taught how to become an executive.  Additionally, online MBA programs now offer students the opportunity to gain valuable business experience while working during the day and taking online classes from home at night.  This subsequently allows online students to continue gaining business experience while still gaining a degree that can help them begin a business of their own.

Additionally, many top online MBA programs offer students the option of choosing from many different types of MBA degrees, depending on which one relates best to their current situations.  There are specific “executive” MBA programs which allow business professionals to earn a degree that their employer has requested.  These programs are specifically catered to students who have had years of work experience, rather than students who are fresh out of college.  Other programs are exclusively for students who are part-time, or students who just graduated from college.  Offering these options to students lets them build their own schedule and promotes each school for its flexibility in choices. 

The “green” movement has compelled people from around the world to rethink their lifestyles and change them accordingly.  As a result, many organizations have created eco-friendly food, products, and even cars.  Business schools have recently jumped on this bandwagon, increasing their emphasis on social and environmental return based on the potential forum for future success.  Students are now graduating with a new degree in this type of sustainable lifestyle, focusing more on the MBA subject of environmentally-friendly businesses, rather on the Wall-Street oriented future. 

As sustainability becomes an ever-looming problem for many businesses and organizations around the world, more universities are beginning to take notice.  While MBA programs have been some of the last programs to take notice, many schools in Europe and Asia now offer programs that cater to this newfound enthusiasm in preserving the environment.  Norwich Business School in the U.K. has now implemented an MBA program in carbon management as a new subject for students to research as a future option for business.  Additionally, Brandeis University International Business School created a new “Global Green MBA” which was implemented to teach students how to build sustainable businesses in the international marketplace. 

The United States has also stepped up to the plate, altering the MBA program at Stanford to become the most sustainable MBA program in the U.S.  Their slogan alone depicts the green lifestyle the school now endorses: “Change lives. Change organizations. Change the world.”  The Center for Social Innovation within the school’s MBA program is specifically geared to teach students how to redress global problems and drive social benefit.  This new MBA subject offers students the chance to participate in internships which serve a social purpose as well as encourage students to get involved in global programs dealing with personal ethics. 

While the Stanford program is one of the only programs of its kind within the U.S., it has taken a firm hold within the student body.  Ninety percent of students within the program now take at least one course at the Center for Social Innovation and twenty percent of the graduates leave with certificates in corporate responsibility.  Graduating these types of students from business school is important to sustaining the future of our economy.  These students may go on to become the leaders of a major corporation, thereby trickling down their understanding of sustainability throughout their corporation. 

Many of these programs strive to emphasize the drastic way the world has shifted, away from industrial standards and toward a more eco-friendly lifestyle.  MBA programs thereby serve an important role in emphasizing this shift in the environment because many of these students will be at the top of many influential corporations within the next few decades as the problem becomes more noticeable.   Thus far, California leads the way in educating business students about the important role they play, as the Presidio School of Management in San Francisco additionally has begun to incorporate issues like climate change, energy efficiency, and social good into the school’s traditional subject.  MBA students today will have the responsibility in only a few years to tackle environmental disruptions; as leaders in the business world, they are the hope for change in the future through the help of these programs.

MBAs can typically cost students anywhere from $50,000 to upwards of $200,000 for only two years of education.  However, for those students who simply want to supplement their business knowledge in order to make better decisions in their career, mini MBAs are now an attractive solution to this dilemma.  Mini-MBAs typically cost less than $5,000 and offer business professionals an insight into the program, as well as other career-driven students who need some business background in order to make informed decisions. 

Mini-MBAs developed as part of the executive MBA program and typically give students a condensed overlook of the program without delving too deeply into topics.  While this may not be enough for the business professional who wants to move ahead in the company, this is perfect for the person who wants to own his own business and does not want to have the burden of $100,000 school bills.  This has also become an appealing opportunity for students who have recently become unemployed and want to learn more about business for the fraction of the cost. 

Known as MBA Boot Camps in the past, Mini-MBAs have since found a new outlet for students who otherwise would not have the funds for an MBA.  These programs hold many valuable opportunities for students because they offer many students a peek inside the MBA world without committing themselves to the expense of a traditional MBA degree.  However, they walk away with the knowledge necessary to open their own business or make business deals with other companies.  Recently, people who have been laid off are looking to this degree to supplement their resume, using their severance packages to pay for the cost.

This quick program offers students the opportunity to gain an additional degree within a few weeks, which is incredibly appealing to the recently laid-off.  The days of the recently unemployed consist primarily of job-hunting (which becomes increasingly frustrating), and taking classes which supplement degrees is a more productive use of time and can earn many students a better job outlook for potential employers. 

While mini-MBAs have not been accepted by every part of the business community, they have provided many people the opportunity to gain a further education for only a fraction of the cost which in turn aids them in getting a better job.  Similar degrees will probably develop throughout different fields, as the economy slowly begins to resuscitate itself. 

The best business schools have traditional prided themselves on their ability to place their students in optimal companies upon graduation.  Recently, however, this has become more difficult to procure, and schools have been forced to look elsewhere to increase their rankings.  As a result, business schools have begun to offer more courses catering to independent businesses, eco-friendly companies, and the ever-expanding global community.  In this sense, international students can now earn business degrees from countries as far away as India. 

Dual-enrollment options have helped strengthen this program within many institutions, as international MBAs are now offered to students as an experiment for students who deal more with international clients.  Schools now have the flexibility to manage across international boundaries in a way that was previously unheard of.  By injecting globalism into their subject matter, business schools are now creating more opportunities for their students to work for international companies. 

Many schools have now reached out to students who already hold a background in international dealings and now how to speak a variety of languages.  As a result, these schools have looked into many third-world nations for students who show potential but do not have the money to attend a school within a Western university.  Online education has thus opened many doors for these students and has additionally presented them with one of the most profitable degrees any student can hope to earn. 

As more and more business schools have begun implementing international programs into their curriculum, many students have already begun this process on their own and have armed themselves with the knowledge of extra languages or the inner workings of global business.  Many of these new courses are additionally required first year courses, such as Stanford’s “Global Context of Management”, while other programs require students to take study trips into foreign countries in order to give them a taste of the international community. 

Global immersion classes have now swept the business school community, as students now enroll in classes that teach about the carbon market in Brazil and the potential of investment partners in China.  These subjects have become increasingly relevant in a world in which boundaries are becoming heavily intertwined and countries are doing business on a regular basis with each other.  It is a wonder that such courses were not previously required for introductory classes.  However, the best business schools now offer many “global immersion” courses in an effort to better prepare their graduates for the ever-changing business community; the days of a uni-polar world are now gone, as other world leaders have begun to emerge in the business context. 

B-schools have quickly become a new outlet for people across the country, differing from its previous conception that business school was only for those who wished to become a high-level executive.  B-schools now appeal to people from all degrees who simply want to start up their own business without hiring extra help.  This has become a quiet shift from the traditional notions of business school, but it has begun to dominate the appeal for the degree.     

Business schools are now helping students gain the confidence necessary to get out into the business world during a recession, regardless of what career they intend to conquer with their degree.  Many b-school degree programs now offer students sound advice in how to go about starting their own business and putting an MBA to good use.  With this type of career placement, students do not need to worry about layoffs if they are their own boss!  Furthermore, ingenious new business ideas are popping up everywhere, as students who have different undergraduate degrees are meshing these degrees with an MBA.  This has resulted in unprecedented independent business ideas. 

The appeal of MBAs and b-schools started when the economy began to take a downturn a few years ago.  Because there are a limited number of executive-level positions around the country which require MBAs, the program needed to rethink its direction.  As a result, students now pursue this degree not to become an employee, but rather to become an employer and an owner of their own business.  Many schools have revamped their degree program to cater to this new type of business student and the numbers of enrolled students have increased exponentially.  If anything, a downturn in the economy wills people to go back to school and get an extra degree, the most useful of which is currently an MBA or business degree. 

Additionally, students can now hone in on a dream to own their own business which they may have previously thought was impossible.  Business classes teach students how to become an entrepreneur and how to gain the funds necessary to start up a business from scratch.  Additionally, they teach students how to be creative with their endeavors and create a business that is unique in a niche that has not been tapped yet.  This dip in the economy has additionally spawned a new breed of students that are more risky: only a few years ago, most business students would not risk putting a huge loan of money down on a business endeavor by themselves.  However, this view has changed as students are now anxious to find a new form of income and they additionally have less to lose than the students of only a few years ago. 

B-schools have become a beacon of light in a dark economic world, presenting a new array of options for incoming students.  While this risk-taking behavior may not last long, it has led to a wide variety of independent businesses that have demonstrated the creativity that exists around the country. 

By Alisa Johnson

When working with a group of people toward a long-term goal, it is important to have a system in place that ensures success, compatibility, and a positive working environment.  In order to achieve this end, it is necessary to have several different aspects of team dynamics covered from the very inception of the team itself in order to achieve optimal results.  Keep reading to learn about five essential aspects of productive teams. 

Established Roles

It is important from the outset of a project for roles with in the team to be established.  This is usually covered in the application and interview process, but should be covered with the entire team together for clarification purposes.  While you don’t want to stifle members of the team who may have great ideas, it is also important that there are not “too many cooks in the kitchen.” 

Communication

Communication should be open to all and round tables need to be held regularly to make sure that communication stays open.  Regular emails, use of a list server, or other methods should be employed to keep all pertinent information available and ready for dissemination within the team at all times.  The effectiveness of your team can be compromised without superior communication.

Accountability

Although this goes along somewhat with having established roles, a system of accountability must be in place within your team.  If a certain aspect of the project is unable to move forward, the reason needs to be recognized and rectified as soon as possible.  Accountability and transparency in all phases of the project will help ensure that you are ultimately successful.

Mutual Respect

While the roles have been defined, someone within the team may have an idea that could streamline the process, saving time, energy, and money.  In an environment of mutual respect, this can go one freely and easily.  Everyone on your team is a professional and has been selected for their ability to contribute to the overall success of the project in question.  Give them the respect they deserve and you should expect the same in return.

Checkpoints

Another very important aspect of a productive project team is having set checkpoints to make sure that things are working efficiently.  These points within the project give the team an opportunity to work out kinks and any obstacles that may undermine the end result.  Checkpoints should be spaced out far enough that they are not intrusive, but shouldn’t allow time for major mistakes to be missed.  Balancing out between the two will need to be discussed and planned out depending upon the specifics and nature of the project in question.

By Alisa Johnson

White collar fraud can happen to the largest of corporations or even at mom and pop shops.  Taking steps to prevent white collar fraud can save you lots of time, hassles, and money down the road if you are careful and proactive.  Look further into some of the following suggestions that will help you with the prevention of possible white collar fraud in your business.

Extensive Background Checks

Many companies are getting smart and working hard at being proactive when it comes to white collar fraud.  Often, spotty employment history and references can give clues as to what’s transpired in the past.  Generally, credit checks can weed out potential embezzlers, as can criminal records.  Potential thieves may avoid even trying to get into companies that have stringent policies related to background.

Oversight

Good supervision can often make a huge difference when it comes to white collar fraud in your business.  With good oversight, potential embezzlers realize that they will not be able to pull the wool over your eyes as easily.  This will ultimately work to your advantage in multiple ways – you will either lose the potential embezzler to another company that isn’t as strict, or they will simply not try to steal from you in the first place.  Either way, it’s a win-win scenario for you.

Compliance Guidelines

Creating compliance guidelines for employment goes hand in hand with oversight, as well as a system of checks and balances.  When employees know that their work is being double checked on a regular basis, they will most certainly err on the side of caution.  This will provide you with several fringe benefits, including increased precision and professionalism in the daily routine.

Checks and Balances

Check and balances help bring everything together when it comes to preventing white collar fraud.  Making sure that mechanisms are in place to seek out and eradicate potential inside threats in you business will help you in many ways, both now and down the line.  Make sure that policies and procedures are in place to ensure maximum efficiency in your system of checks and balances.

White collar fraud can be a big problem if steps aren’t taken to prevent its occurrence early on.  Proactive measures are generally seen as the best way to prevent problems from happening, so make some changes in your operations to ensure that you are bolstered against white collar fraud.

As the economy has shifted in the past few years, so have the ranking systems throughout many business schools around the nation.  Business schools no longer cater exclusively to the future Wall Street executive, but in fact have rearranged their course schedules to cater to the student who must survive the economic downfall of the recession. 

Business school class rankings have now changed so that they reflect the current state of the economy and the potential careers of many business students.  More and more students are finding that lucrative career moves come after taking classes that teach students how to open their own business and maintain profits.  Only a few years ago, this was a little considered endeavor for business school students, but it has now evolved in such a way that it has become the most feasible option for graduates.  As a result, business schools now offer courses that help students become better situated with the shift the economy has taken and possible future careers.

Additionally, the eco-friendly movement has gained serious airplay within many business schools as well, changing rankings at the same time.  These classes teach students how to become more energy efficient in their future careers and help them potentially grow “green” corporations that cut down on their emissions and hopefully pave the way to a more eco-friendly future business professional. 

The days of luxurious business careers are quickly escaping the dreams of many students of business schools, and have been replaced by a more realistic image of the future.  However, this does not mean that they are in a dead-end career move, but simply that they will have to work harder than previously stipulated.  And isn’t that what growing up is all about?  Adapting to change and moving along with it?  While many students have been reluctant to conform to the new idea that business careers will not be as lucrative as they once were, this change still offers a fresh view of creativity to students.  Now, many students will be able to open up a new business that is revolutionary in the field, a bold move that was unprecedented only a few years ago.

As rankings in business schools and business courses fluctuate over the years, the fact that they still allow students to earn a valuable education will never change.  Business degrees remain as valuable as they always were, but are simply applicable to different fields, evolving with the pace of the economy.  

The economy has created a different outlook for many bschool students and graduates.  An industry that once guaranteed graduates a well-paying career has now shut its doors, remaining closed for an indeterminate amount of time.  Therefore, many business majors have been forced to look elsewhere with their business degree, creating a new niche in the business world.
   
Many students have treated the economy and bschool in different ways: some have left the school in pursuit of a less advantageous major that their parents would never have previously let them strive for.  Others have opened up new businesses, combining other degrees with business degrees.  And yet others still wait for a phone call from a potential employer.  Similar to the Great Depression, careers that were once in high demand have now shifted dramatically, leaving many students scrambling for alternate degree options.  Bschool students, however, have only changed the spectrum for the degree, thereby continuing the program while still earning a substantial degree.

Bschool programs have now changed to cater to a new economic outlook, preparing students for all possible scenarios since it is impossible to predict where the economy will be in a few years.  However, students have now been offered the opportunity to become more creative with their majors, combining business degrees with the arts or music, something that was previously difficult to do.  All types of businesses have opened up in recent months, from artsy-furniture outlets to online dress sites that rent users designer dresses for $50.  Students are beginning to look away from a future investment banker position and now are looking toward an uncertain future, but a future that offers a wide array of possibilities. 

For many students, this outlook is depressing, especially if they craved a Wall Street financial position.  However, simply tweaking this future to become more realistic does not mean that your degree will be useless when you graduate.  Rather, we are on the edge of an innovative business era in which students are once again forced to think outside the box and create career niches that were previously unheard of.  Instead of lamenting to ourselves that we will never crawl back to our previous banker position, we should remain optimistic that bschools will arm students with the necessary means to pursue alternative aspects in the business world.

Creating independent businesses may seem to be a risky endeavor, but thus far has proved itself to be the saving grace of the financial crisis.  Many businesses have remained stable despite the rocks from Wall Street because they were not substantially connected to this aspect of business.  Finding a way to prevent future business disasters from occurring is one way we can solidify our economy to better withstand the next financial crisis.  In the meantime, exploring other applicable business options has proven to open doors to a slew of new possibilities for every bschool graduate. 

Buying an existing business can bring about many benefits.  There’s the fact that it is already open and running, employees are in place, and if the business has been around long enough—a degree of lasting power.  However, it can be difficult to not let your desire for a business interfere with the negotiations.  It is important for you to think about a few key things before singing the papers and taking the keys.

One of the first things you need to do is protect yourself.  If you don’t already have a financial advisor or corporate attorney, you must do this right away.  It is very likely that they will recommend that you incorporate yourself so that you don’t risk your own personal assets should the business ultimately fail.  Although we hope for the best, this is a plausible end to this venture if things don’t play out well.

Now it’s time to consider a few questions and their implications when it comes to negotiating the purchase price of a business.  If you have your heart set on a particular place, it will be even more necessary to have your financial advisor with you during negotiations to be your voice of reason.  Ultimately, the asking price is negotiable, so keep that in mind as well when you address the following concerns?

Why is the business being sold?

Certainly, there are people who want to move on to different things at various points and this is understandable.  If you are looking into a very popular and well-established business, find out why it’s being sold.  Is a large company that will put the place out of business moving in during the next six months?  Has the business incurred a great deal of unpaid debt?  Understanding the real reason why a business is being sold is crucial and puts negotiation power in your hands.

What exactly are you buying?

Are you buying the business as-is, or will the current owner make certain improvements and concessions to relinquish ownership?  Remember, unless otherwise stated, you will picking up the bad along with the good, including outstanding debt, rent, and any maintenance issues that may need to be addressed.  Get the place fully evaluated and find out the exact nature of the financial situation before getting ahead of yourself. 

How much do you want this business?

If you take a moment to be realistic, take a look inside and evaluate your motivations for purchasing this business.  Could your desire for the place be clouding your judgment?  Many people are willing to make more concessions in negotiations when they really want something, compared to wanting anything that will be successful and generate profit.  Sometimes it is good to consider these kinds of things as well.

If you know exactly what you are getting into, then proceed to your negotiations with your advisor ready to find a price that will benefit both you and the seller.  Buying a business can be a tricky and length process, but after you take possession of your new place, there will be so much to do that you’ll soon forget the stresses and pressures of the acquisition.