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Business Services Industry

A Lot To Learn

Entrepreneur, Sept, 2001 by Peter Kooiman

JUST BECAUSE YOUR COMPANY'S A SUCCESS DOESN'T MEAN YOU AND YOUR STAFF KNOW EVERYTHING THERE IS TO KNOW. WITH A LITTLE EDUCATION, THOUGH, YOU CAN CHANGE THAT.

NOT LONG AGO, MOST ENTREPRENEURS thought the only degree they'd ever need would be one from the School of Hard Knocks. "Who needs some ivory tower intellectual telling me how to run my business?" the thinking went. Of course, they were partly right. There is no substitute for hands-on learning.

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But post-graduate degrees and other relevant business courses can lead to smarter, faster business growth and can help build a group of highly skilled and knowledgeable employees. Classroom learning has plenty of practical applications, particularly considering the dynamic nature of today's economy. Laid-off dotcommers are taking classes on sales and marketing fundamentals, and founders of traditional companies are going back to school to better understand e-commerce. With night and weekend classes, certificate programs, online courses and customized in-house options, executives now have more educational opportunities than ever before.

Master's of Your Domain

A full-time MBA program remains the cornerstone of most schools' executive curriculum. A typical MBA program takes two years for full-time students, but three to four years for part-timers, depending on the course load. Peter Carlisle, founder of Portland, Mainebased Carlisle Sports Management and an MBA student at the University of Southern Maine, usually takes one or two night classes per semester. On school days, he faces the challenge of finding time for homework between meetings and conference calls.

"My typical day is getting to work early and doing as much as I can before noon," says the 33-year-old Carlisle. "I'll take 45 minutes of lunch to prepare for class. If I have more to do, I'll hold calls after 5 p.m. and do more coursework. Classes usually run from 7 to 9:30. It's exhausting, but you can do it without taking time off from work, which I couldn't afford to do."

Carlisle says the discussion among seasoned executives enrolled in his classes is often just as valuable as the course material. "I like nothing better than disagreeing with my professor and classmates," says Carlisle. "That kind of discourse makes you evaluate your own management skills."

Unlike his other degrees, Carlisle insists his MBA is more about learning practical skills than hanging a piece of parchment on his office wall. "You go through a lot of school and know it's valuable, but you're there for the degree," says Carlisle. "Now I couldn't care less for the degree, and I'm a sponge because of it. I choose classes based on what helps me manage my company. I'm going for an MBA, but the degree is an incidental benefit."

Customized and In-House Programs

The scope of executive education now goes far beyond the traditional MBA degree. "Essentially, an MBA is designed to develop entry-level business skills," says Bill Scheurer, chair of the International University Consortium for Executive Education (UNICON). "But what do executives do when they're in midcareer and they're taking on general management skills? There's another body of business education there. We're noticing a big growth in customized programs where companies and universities collaborate."

There are now more than 2,000 corporate universities worldwide, up from 400 in 1988, according to Jeanne Meister, president of New York City-based Corporate University Xchange, a research and consulting firm. Roughly half of corporate universities have onsite campuses. Corporations can mix and match experts or professors for training sessions that last anywhere from one day to several months. Some classes are taught online, while others are conducted at nearby colleges.

Flexibility and accountability are the greatest benefits of in-house programs. Universities and companies can collaborate on tailor-made curricula, and employees are able to take classes as part of their regular workday. CEOs and upper-level management are directly involved in program planning and execution. Employee follow-up is an ongoing process throughout each course.

Businesses with in-house programs also attract better employees. "Companies that invest in education become employers of choice," says Meister. "They recognize the need to retrain employees, because the knowledge people bring to their jobs goes out of date."

While it's easier for larger corporations to develop in-house programs, help is available for small-business owners. "They can do a couple of things," says Meister. "One is to be part of a consortium. You can also create partnerships on your own. Usually this involves community colleges or local schools willing to create something innovative with you and your employees."

EMBA/OnLine Options

While some customized courses are part of certificate or nondegree programs, credits can also be applied toward an MBA or Executive MBA (EMBA) degree. Although EMBAs cater to midlevel to senior-level executives, entrepreneurs are sure to benefit. The programs are more condensed, and most classes meet at night or on weekends. Last year, close to 8,000 executives enrolled in EMBA programs worldwide, according to the EMBA Council.

Business Services Industry

A Lot To Learn

Entrepreneur, Sept, 2001 by Peter Kooiman

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