The value of an MBA from old Europe

Latin Trade, June, 2003

The presence of Latin American students in MBA programs offered by business schools in Spain has increased markedly in recent years. A mere token presence a decade ago, Latin students now comprise an average 10% of the total number of students at all schools, and in some cases, up to 40%.

This increased interest from Latin American students and professionals in the programs offered by Spanish schools is due partly to their desire to learn about the European approach to business administration and management, which is characterized by being much more open to the international market than the U.S. approach. Another reason is the widely acknowledged prestige of Spain's business schools, whose programs are highly valued by companies with great presence in countries throughout the Americas.

A third factor, just as important, is how easily these students manage to adapt to the Spanish social environment, something based not only on the fact that they are able to speak the same language, but also on aspects such as the type of society, common cultural roots and weather.

The Asociacion Espanola de Escuelas de Direccion de Empresas (AEEDE, or Spanish Association of Schools of Business Administration) was founded in 1989 by some of the most established business schools in Spain. It is the Spanish representative of EQUAL (European Quality Link), an umbrella organization for accrediting associations of business administration and management schools throughout Europe.

Its goal is to promote and respond to the growing corporate demand for quality and service in the education of business leaders. It also acts as an advocate before the government, the media, and business and social representatives, portraying the needs that arise within the sector to their members and publicizing the experiences and knowledge of the schools and their faculties. It examines the existing environment to help its members adapt to new conditions and challenges by providing common services that facilitate their work and their cooperation.

"Latin American students who come here have the advantage of experiencing the European system, which has certain unique characteristics as compared to the American system, and this can be useful to them in the future, when they do business in different countries and environments," says Cecilio Moral, president of AEEDE and director of the Instituto de Postgrado y Formacion Continua (Institute of Graduate and Continuing Education) of the Universidad Pontificia Comillas in Madrid.

Question: How good is the quality of the graduate degrees offered in Spain?

Answer: The Spanish educational system is one of the best in Europe, if not the best. And, of course, we have a long tradition in graduate degrees, which started in the 1970s, when MBAs were already being offered. This type of education has developed greatly since, and nowadays, according to some consultants who compile this type of data, there are almost 300 of these schools in Spain, which shows that there is a market and things are being done well.

Q: How varied is the educational scene to absorb these 300 centers?

A: Logically, any market has large and small companies, and exactly the same thing happens in our sector with a particular characteristic: Some institutions are part of a university and others are not. So there are schools that are not affiliated with a university and are first-rate schools, and then there are universities that offer graduate degrees directly.

Q: When it comes to Latin American students, what are the advantages offered by Spanish business schools, as opposed to those in the United States or other European countries?

A: The setup of Spanish business schools is interesting when it comes to Latin America because it provides a European perspective of business administration and management in a high-quality educational atmosphere that also makes them feel at ease, given their language skills. For instance, Mexico has a good educational level, but when it comes to graduate degrees and management techniques, it's probably very similar to the American model. That is why students who come here have an advantage when they become familiar with the European system, which has certain unique characteristics as compared to the American one. This can be useful to them in the future when they do business in different countries and environments.

Q: Do Latin American students adapt better in Spain than in any other European country?

A: Of course. There are common historical roots and Spain's customs, work and lifestyle definitely help Latin American students feel comfortable here. One thing we notice is the way in which these students fit into the environment once they arrive. In fact, they're the ones that promote most initiatives, from the cultural and leisure standpoint, to the point that they become the driving forces of this type of thing.

Q: Are the academic aspects of these programs oriented in any way toward these students?

A: Latin American students tend to take very general programs, such as MBAs, or a specific subject, such as marketing or logistics, but always with international applications. For instance, within the MBAs, we deal with general business administration techniques and there's nothing that cannot be applied in their native countries. We must keep in mind that these programs bring together students from different European, American and Asian countries... That's why we're interested in offering standard European programs.