EXECUTIVE MBA COUNCIL FALL 2006 FALL

Happy Anniversary! Executive MBA Council celebrates 25 years of contributions to the Executive MBA industry Congratulations to the Executive MBA Council on its 25th Anniversary.

It is a privilege to serve our customers and to be a part of the Council. Best wishes for many more years of success. www.campustext.com 888-606-8398 Executive Connections 1

Welcome to Executive Connections

This inaugural issue of Executive Connections celebrates the 25th anniversary of the Executive MBA Council by highlighting the council’s history. The council plans to publish issues of Executive Connections to share informa- tion for and about Executive MBA Programs twice a year. In addition, look for the debut of EMBA News, the council’s quarterly online newsletter, in November. These publications will replace Exchange, an online newsletter and magazine that the council published from January 2004 to August 2006.

Executive Connections The Executive MBA Council 3 publishes Executive Connections Giving Birth twice a year for its members. 1980-85 Special thanks to our contribu- Early founders discovered great interest in tors to this issue. To reach the the Executive MBA Executive MBA Council, call toll-free 877-45EMBAC, or e-mail [email protected]. 7

Communication Co-Chairs 1986-90 Gathering Steam Patty Keegan University of Chicago Executive MBA Council begins to take shape Bronica Sam University of Washington 11 Writing Darlene Gorrill 1991-99 Moving to Independence Design Council expands in many ways Dawn Mathers

©2006 Executive MBA Council. 15 All rights reserved. 2000-06 Forging its Own Path New initiatives result from a pledge of independence

19 The Executive MBA Council fosters excellence and innova- Trends 25 Years and Changing tion worldwide in Executive MBA Programs. The council The Executive MBA and the Executive MBA has more than 200 member Council continue to adapt colleges and universities world- wide, which offer more than 300 programs in 25 countries. 22 Additional information about The Main Event the council is available online at www.embac.org, including the The Executive MBA Council Conferences Visitor Search, a directory of in retrospect Executive MBA Programs worldwide. ½ÉÈÁÌ»ÎÏÆ»ÎÃÉÈÍ ÎÉ Î¿

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Chuck Hickman and Pete At the time, Hickman organized meetings and profes- sional conferences as part of his role with the Association Lyon still remember the dark, to Advance Collegiate Schools of Business (AACSB Interna- tional). “While doing that, I started to notice whenever we cold winter day in St. Louis, ran a break-out session to talk about the Executive MBA Missouri. It was early 1981, and Program, more people were showing up,” he says. “It was a clear signal.” they huddled around a fire in Hickman wanted to bring together some program directors to talk about the possibility of a new offering for a local hotel lobby to begin an Executive MBA Programs. On that day in St. Louis, four important conversation about participants helped cast the dye for the formation of the Executive MBA Council. Hickman, Lyon, who began an the emerging popularity of a Executive MBA Program at the University of Houston, Chip Parks then at , and Ron Gist from pioneering MBA degree the University of Denver, set in motion the first actions that ultimately led to the formation of the Executive MBA option. Council.

1981: University of Houston

Lyon volunteered the University of Houston, with its on-campus hotel, as the location for the first workshop. He worked with fellow Executive MBA Program directors Ed Wilson from Northwestern University, Dave Ewert from

Gulf war: Iraq invades Iran

Mount St. Helens Personal computer Martial law ends Macintosh computer Compact disc volcano erupts launched by IBM in Poland with mouse launched introduced

1980 1981 1982 1983 1984 1985

Number of Executive Start of collaborations First Executive MBA Conference. MBA Programs at the with AACSB and GMAC Developing Quality in Executive start of the decade: 50 MBA Programs, Atlanta, Georgia First Executive MBA Workshop in Houston, Texas 4 Executive Connections

Georgia State University, Ernie Scalberg from the Univer- Kindred Spirits sity of California at Los Angeles, and Tom Ference from By the 1980s, interest in Executive MBA Programs began Columbia University. to percolate. It wasn’t long before planning started for “We set the first meeting for the end of September in another workshop—this time at Georgia State University. 1981 thinking that maybe we would have 50 to 60 people “There was really a sense of stewardship,” says Hickman. attend,” says Hickman. “In the end, we “This was a serious matter to the early program leaders. were not able to accommodate all who They were willing to put in their time and efforts to sup- wanted to come.” port the field and the development of the industry. That The workshop clearly struck a chord was really unique.” with business schools that wanted to The leadership from faculty members and directors who know more about such programs. “It were responsible in many cases for developing Executive was an immediate success,” says Ewert. MBA Programs at their schools played a key role in moving Many participants came from the organization forward and distinguishing it from other Chuck Hickman AACSB schools that had not yet started an professional associations. Executive MBA Program, says Lyon. At the University of Chicago, which initiated the first “We had a lot of people who were interested in learning Executive MBA Program, Walter “Bud” Fackler embodied about what to do.” what continues today as a marked characteristic of the The first workshop focused on tactical and practical council: openness and a willingness to share. He served as questions, says Hickman, many of which revolved around a powerful role model. “Bud was unfailingly generous with the starting and marketing of programs. Willing to share his time,” says Hickman. their knowledge and experiences, the founders of many of Indeed, many administrators and faculty visited the the country’s Executive MBA Programs set a tone for the University of Chicago to talk with Fackler and observe the fledgling initiative that remains today. Chicago model before they put their programs in place. “I

Bud Fackler, University of Chicago, interviewing a prospective student. Executive Connections 5

have been an unpaid consultant to a lot of programs,” said Fackler in a 1988 speech to the AACSB. “No one has a patent or copyright on what is good in executive education,” Fackler said. “Many have borrowed some of the Chicago ideas, and we, in turn, have borrowed from others.” The early council founders took the notion of encourag- ing the development of the industry to heart. “Our purpose was to try and help other people,” says Lyon. The environment also helped support what Ewert describes as an “incredible amount of sharing.

Executive MBA class, 1955, University of Chicago

URGENT NEED (as described in the 1943 brochure for the first Executive MBA Program) “The present national emergency has created an unprecedented demand for trained men—trained not only as engineers and mechanics but as administrators, supervisors, and analysts. The task of war is primarily one of co-ordination of men and materials in the work of industrial production; it is a problem of management. Such training requires the special facilities of well-equipped and well-staffed institutions designed to give this kind of instruction. The need is urgent. The School of Business at the University of Chicago, recognizing the national need and wishing to do its part, calls attention in this special way to the opportunities it offers.”

(RIGHT) “Hazing“ “Without today’s technology, programs were more local, ritual between and they tended to be located in urban areas,” says Ewert. first-year and As a result, competition among programs was virtually non- second-year students. existent. “This was a place for Executive MBA Programs.”

Early Issues (BELOW) “Beaning” The newness of Executive MBA Programs also brought ceremony — with it many challenges, including identity pains. second-year students to first- In the beginning, the University of Chicago worked with year students. AACSB to clarify its status. “At first, the AACSB did not know what to do about accreditation,” Fackler said in his speech. “Was different inferior? Was shorter (in some cases) inadequate even though longer than some regular programs?” In the end, AACSB agreed that “a good generalist program could meet MBA degree standards,” said Fackler. As the concept spread, “the AACSB has become enor- mously helpful and supportive.” Sensitive to the perceptions about quality, programs often went out of their way to raise the bar, says Scalberg. Those efforts resulted in a high level of innovation, innova- tions that ultimately made their way to the school’s more established MBA programs, he says. 6 Executive Connections

On the corporate front, programs reached out in their Powerful Connections own ways. Even in the beginning, the prospects looked bright for In Texas, Lyon took his message directly to corporate the council. “We certainly exceeded any expectations that I leaders who, once they understood the benefits, were in a had,” Hickman said. “This was an idea waiting to happen.” position to identify candidates for the program. The Council organizers focused on developing a structure approach succeeded in bringing students to the program for the association and opportunities to bring others and in bolstering the program’s reputation. together. In return, their work offered them rewarding Early organizers recognized that the development of the relationships. council could help lend credibility to the Executive MBA. “I was lucky enough to work with a great group,” says “There was always an effort to try and define what an Lyon. “They, without question, are the best memory.” Executive MBA Program was,” says Scalberg. “We thought

there would be an advantage in banding together.” Photos in this section courtesy of the University of Chicago

THE LEGACY American industry quickly marshaled its resources when the Graham was far from done with his idea or his work to country entered World War II in 1941, mobilizing its manufactur- advance executive education. When he left the University of ing capabilities to supply armed forces with tanks, planes, Chicago in 1953, he founded the Executive Development weapons, and supplies. Program at the University of North Carolina. He also conducted Only a year later in 1942, Willard Graham, accounting a management development program in Cairo, Egypt in the late professor at the University of Chicago, proposed an idea to help 1950s. strengthen the leadership of American business: an educational A special tribute to Graham took place in Chapel Hill, North program for seasoned managers that led to the awarding of the Carolina, in 1966. “He was memorialized in these words,” said MBA degree. Fackler. “ ‘The one man who had most changed the entire Born during a time of war, the very first Executive MBA concept of executive development.’ ” Program debuted in 1943 at the University of Chicago with an Graham began the legacy of the Executive MBA Program, but entering class of 52 students, including four women. it took 21 more years before another school launched such a “Perhaps necessity was, in part, the mother of invention,” program. Michigan State University started its program in 1964, said Walter “Bud” Fackler, in a 1988 speech to the Association to when Kullervo Louhi, who taught in the University of Chicago Advance Collegiate Schools of Business (AACSB International). Executive MBA Program, became dean. “But Graham’s vision, enthusiasm, and marketing skills were In 1968, Rochester and Columbia joined Chicago and important ingredients in what became an immediate success Michigan State, followed closely by Denver, Pittsburgh, Pace, story.” and Simon Fraser. By the 1970s, more Executive MBA What made the first program—known as the XMBA—a hit? Programs entered the market. “There was an important market to be served, The University of Chicago also was responsible for an there was snob appeal, and there was a early development that impacted programs to come. good product produced by a small In the 1960s, University of Chicago faculty member but excellent faculty,” said H. Edward Wrapp introduced the weekend scholar Fackler. “The format, with classes meeting during the day on Chicago business alternate Fridays and Saturdays. community was sup- “It was a great innovation,” said Fackler. “We portive and sponsor- escaped the night school onus, the faculty and ship, always tricky, was students were fresher, the program was more forthcoming from some competitive with resident executive develop- leading client companies.” ment programs, and it expanded the local As Fackler pointed out: and regional market. We doubled the “It was not for kids; it was demand with one stroke.” for general managers and experienced managers of high general management potential.” Program of study for the first Executive MBA Program, from the University of Chicago, 1943. Tuition fee was $30 per course. Gathering Steam 1986-90 Executive MBA Council begins to take shape

On the heels of the successful 1987 brought several other firsts: The council moved its annual conference outside of the United States for the first Houston and Atlanta meetings, time, as Toronto, Canada hosted Executive MBA Program faculty and administrators. council leaders decided to In addition, council leadership wanted to pay tribute to offer the conference on an Walter “Bud” Fackler’s many contributions to the industry and his countless words of wisdom that nurtured the devel- annual basis. San Francisco opment of many an Executive MBA Program. The council established an award in his honor, and at served as the destination for the Toronto conference, Fackler became the first recipient the 1986 conference. of the Bud Fackler Service Award. The award continues as the highest recognition that the council bestows to an individual or organization. It acknowl- edges success in advancing the work of the Executive MBA Council and Executive MBA Programs worldwide, including efforts to help other programs, to share best practices, and to raise the level of Executive MBA Programs. Bigger changes were also brewing. At an informal 1987 gathering in Boston, Executive MBA Program directors met to share information. They also discussed the popularity of the annual meetings and the logical next steps to meet the growing demand for information about Executive MBA Programs. A year later in Denver, the council’s early leaders again addressed the question of formally establishing an organiza- tion. George Abraham, director of the Executive MBA Program at the University of New Hampshire, attended

THE EXPLOSION Colleges and universities in the United States and Canada began 14 new Executive MBA Programs between 1964 and 1974. In the 10-year period that followed, 60 additional Executive MBA Programs were launched. Between 1985 and 1988, 16 new programs started. As the council’s first Survey of Executive MBA Programs noted in 1987-1988: “There are currently nearly 100 graduate programs in business tailored specifically for the professional and educational needs of managers and executives in the United States, Canada, and Australia.” 8 Executive Connections

both meetings and remembers the discussion about Later that year, the Executive MBA next steps. Council incorporated, with the Associa- “We went back and forth on the merits,” says Abraham. tion to Advance Collegiate Schools of In the end, Fackler inspired the final choice. “Bud spoke in Business (AACSB International) con- favor of incorporating as an association, arguing to move tinuing to offer organizational support. forward and see how it all falls out.” The Denver meeting The Graduate Management Admission ended with the decision for the council to incorporate. Council also remained a collaborator

George Abraham of the council. Fifty-six schools became University of New charter members (see list). Hampshire Tom Ference, who then headed the CHARTER MEMBERS Executive MBA Program at Columbia University, became In 1988, the Executive MBA Council took a leap forward the first chair of the Executive MBA Council Board of through its incorporation. Trustees. The following members joined Ference to form “Our mission is to promote communication, professionalism, the council’s first board: and to increase the amount of shared information among • Dave Ewert from Georgia State University managers of Executive MBA programs,” wrote Ed Wilson, vice • Pete Lyon from the University of Houston chair of administration for the newly incorporated council in a • Ed Wilson from Northwestern University letter to members. • Kevin Fertig from the University of Illinois at Urbana- The following 56 schools became charter members of the Champaign Executive MBA Council: • A.C. Gross from the University of Pittsburgh Rollins College • Ann Jennings from the University of California, Irvine Baldwin-Wallace College Rutgers • Henry H. Rodkin from the University of Chicago Baruch College Saint Mary’s College • Ernie Scalberg from the University of California at Los Brigham Young University Salisbury State University Angeles Boston University Suffolk University With a board in place, the council began to pursue new Bowling Green State University Syracuse University initiatives, such as expanding on its ability to collect data Claremont Graduate School Tulane University about programs and the industry. The board decided to Cleveland State University University of California, Irvine conduct its first Survey of Executive MBA Programs, the College of William and Mary University of California, precursor to what members know today as the Program Columbia University Los Angeles Survey. Concordia University University of Chicago “We wanted to learn more about what was happening Duke University University of Denver with programs and in the industry,” says Scalberg, who Farleigh Dickinson University University of Hartford Georgia State University University of Houston spearheaded the 1987-88 survey of programs (see related Houston Baptist University University of Illinois (Urbana) story, p. 9). “We were really growing.” Lake Forest Graduate School of University of Iowa Management University of New Hampshire Loyola of Baltimore University of Notre Dame Memphis State University University of Pennsylvania Michigan State University University of Pittsburgh Chernobyl nuclear reactor disaster New York University University of Richmond World stock Northern Illinois University University of San Francisco Marcos flees the Phillipines market crash University of South Florida 1986 1987 Northwestern University University of Southern California Nova University First non-United States based Oregon Executive MBA Program University of Texas (Austin) Executive MBA Conference University of Toronto Executive MBA Programs: Insighters Trading for the Future, Rensselaer Polytechnic University of Washington Toronto, Canada University Washington University Rockhurst College Winthrop College Executive Connections 9

Degrees granted. (about 4 percent of Students enrolled in Executive SURVEY SAYS 7500 3000 approximately 70,000 master’s degrees MBA Programs The Executive MBA awarded in the United States) Council conducted the Survey of Executive MBA

Top admissions criteria Programs for the first Average 1 Work experience time in 1987-88. tuition and “The goal of the fees 2 Corporate endorsement survey is to develop a $11,000 3 Managerial experience longitudinal data base which institutions can Sponsorship Financial support 4 Interview use to structure new 70 percent of students 25 percent of programs 5 Undergraduate degree programs or to compare were fully funded provided loan options 20 percent received 20 percent provided and enhance existing 6 GMAT score partial support scholarships ones,” according to the 10 Undergraduate GPA final report. “The annual survey is to ensure that Demographics 37 Average class size data are gathered regu- 22 percent female larly and in a consistent 12-70 Average class size range 7 percent minorities fashion.” 37 Average participant age 3 Council board mem- percent non-citizens 12 Average years of experience bers, program directors, and the Graduate $56,000 Average salary of admitted students 84% For-profit companies Management Admission Management experience: One-third at vice 16% Other Council assisted with president level or higher; half at middle-level Type of Industry the survey. The council management mailed questionnaires to 91 Executive MBA 21 Average program length in months Manufacturing 28% member programs, and 18 Average number of required courses Services 23% 61 responded. 54 Average number of credit hours

Finance/Insurance/ 4 Average number of staff who spend Real estate 16% more than half time on average Communications/ Transportation/Utility 14% 83 Percentage of desktop computers used in classrooms

Average marketing budget Most effective marketing approaches $23,000 Newspaper advertising • Alumni recruiting • Receptions/briefings

World Wide Web created by Berners-Lee Savings & Loan bailout authorized Michael Gorbachev Berlin Wall is demolished awarded Nobel Peace Prize

1988 1989 1990

First Survey of Executive MBA Incorporation of Programs (1987-88) Executive MBA First chair of the newly formed Council organization: Tom Ference, Columbia University First recipient of the Bud Fackler Service Award: Walter “Bud” Fackler, University of Chicago 10 Executive Connections

HIGHEST HONORS The council established the Bud Fackler Service Award in 1987. It is the highest recognition that the council bestows to an individual or organization and acknowledges success in advancing the work of the Executive MBA Council and Executive MBA Programs worldwide. Winners are announced at the conference. Below is a list of the honored recipients. 1987 Walter “Bud” Fackler University of Chicago 1988 Pete Lyon University of Houston 1989 Tom Ference Columbia University 1990 Ernie Scalberg University of California at Los Angeles 1992 Chuck Hickman AACSB 1993 Ed Wilson Northwestern University 1995 Susan Bunker University of Colorado 1996 Kathryn Carlson University of Minnesota Dave Ewert Georgia State University 1998 Norm Berman New York University 1999 George Abraham University of New Hampshire 2000 Martin Rapisarda Vanderbuilt University Erica Kantor Northwestern University 2001 Penny Oslund University of North Carolina, Chapel Hill Connie Rieben University of Wisconsin, Madison 2002 David Poole Pepperdine University and Chapman 2003 Marci Armstrong Southern Methodist University 2004 Graduate Management Admission Council 2005 Cathy Molony University of Pennsylvania

FROM OUR MEMBERS Influential “Executive MBA education has the right methods to international insights, exceptional facilities, and non- attract and teach the perfect student,” said Ed Wilson, degreed programs that are taught by exemplary faculty to former chair of the Executive MBA Council and former complement lifelong learning. director of Executive MBA Programs at the Kellogg School. The Kellogg School represents a microcosm of the “These students have experienced success, gained industry and its growth over the last 25 years. wisdom, and have the greatest reason to expand their Expanding the Executive MBA in scope from regional to knowledge base. They understand how beneficial this international, it has grown from an enrollment of 140 to education can be for themselves, for their organizations, more than 800 students worldwide. Global expansion has and, ultimately, for the larger community.” been one of the most significant changes in the Executive The Executive MBA Council has proven instrumental in MBA industry as well. Kellogg’s new Miami campus is the developing a product no less transforming than computer most recent addition to the school’s worldwide network. software. The demand for an Executive MBA has risen at International students, who compose 52 percent of the the pace of Microsoft stock over the last quarter-century, class, commute from countries such as Chile, Columbia, El comparing the grassroots investments of time and money Salvador, Guatemala, Honduras, Mexico, Nicaragua, from Wilson and Don Jacobs of the Kellogg School to a $10 Paraguay, and Peru. investment in Microsoft 25 years ago. Responding to the needs of students began with the The exponential growth from the first programs to addition of electives, North American programs, and better hundreds of worldwide offerings came from the working facilities. Kellogg is now responding with international professional’s desire to learn from premier faculty and partnerships, global learning experiences, and new apply that knowledge immediately in the workplace. Today campuses. The needs of students will continue to serve as Executive MBA students seek opportunities to expand their the catalyst for growth. networks far beyond one company or industry. They seek Moving to Independence 19 91- 9 9 Council expands in many ways

Kathryn Carlson remembers One of the council founders, Lyon, a tall Texan, told Carlson, then head of the Executive MBA Program at the vividly the first Executive University of Minnesota, when he met her: “I try to help out one Yankee a year, and I think it will be you this year.” MBA Council Conference True to his word, Lyon answered questions and offered that she attended. At the 1989 information. He was one of many members who freely shared information and helped Carlson bring new ideas to conference in San Antonio, her program. In fact, one year Carlson noticed that Cathy Molony she met Pete Lyon, who was from the Wharton School at the University of Pennsylvania then director of the Executive used “WEMBA” (Wharton Executive MBA) to describe her program. “I came back and recom- MBA Program at the mended that we change the name of our program to CEMBA (Carlson University of Houston. Executive MBA).” Lyon, Molony, and many other members welcomed Carlson, and she was impressed by the council’s collabo- rative nature, as well as by the numer- Kathryn Carlson University of ous opportunities to find out what Minnesota other programs were doing. She quickly became involved with the council in several key roles. Under her guidance, the council increased its communication with members, distributing a newsletter on a regular basis. She also co-chaired one of the decade’s most memorable events: the 1993 conference in Mexico City, Mexico, where the president of Mexico, Carlos Salinas, spoke to participants (see related story, p. 14). She also served as chair in 1993-94 and served two terms on the board.

CORPORATE LINKS In 1997, the council developed three membership categories: full member, associate mem- ber, and partner, known today as corporate member. Accent Travel Group, which remains a corporate member, was the first corporate member of the Executive MBA Council. 12 Executive Connections

Joining Carlson in the 1990s were more and more “This was really a learning opportunity for me,” says Executive MBA Program administrators, as the number of Oslund. Her involvement helped her strengthen her programs continued to rise. program’s use of data and better understand the industry. The council conducted surveys of programs in 1987-88, No Boundaries 1988-89, and 1990-91. Then efforts to continue the The 1990s truly marked a period of explosive growth in research stalled. Oslund brought together a benchmarking Executive MBA Programs and of international expansion of committee to begin work on a survey initiative. programs. In turn, this growth helped fuel the continued The committee distributed a full survey to members in success of the council. 1994-95 (see related story, p. 13) and followed with another “It was an exciting time to be involved with this group survey in 1995-96. The committee also discussed the because it grew so dramatically in a really short period of benefits of surveying graduating students, and in 1998, the time,” says Chuck Hickman, who remained connected with council conducted its first student exit survey. the council as part of his role with the Association to At first, the council alternated its program and student Advance Collegiate Schools of Business (AACSB Interna- surveys, but began offering both of them annually by 2003. tional). “This really caught fire.” From a broader perspective, the research allows the Kevin Fertig, who served as council chair in 1991-92, council to share aggregate data about the industry. From a summarized the growth of Executive MBA Programs in a personal perspective, it can make a program director’s job 1992 newsletter article: “In only four years, we have grown a lot easier. from 56 charter members to a membership of more than 100 institutions.”

A Clearer Picture IN MEMORY Penny Oslund was also one of those new directors of The 1990s also brought moments of Executive MBA Programs who discovered the council. Her sadness. Many council members knew assistant dean recommended that she attend the 1991 Susan Bunker, associate dean of executive conference in Santa Monica, Calif. programs at the University of Colorado, “I was a staff of one,” says Oslund, director of the Execu- who died unexpectedly after recovering tive MBA Program at the University of North Carolina, from heart surgery in 1997. Chapel Hill. “The council was my lifeline. I immediately “Susan was known for her critical thinking, dedication, wit, and helping met people I enjoyed. I appreciated the opportunity for hand to start-up Executive MBA collaborations and the willingness to help.” Programs,” according to an article in the winter 1997 issue of Oslund gained much from her council experience and the Executive MBA Review, the council’s newsletter. decided to become involved. She joined the editorial board Bunker served the council well: She was on the board from for the council newsletter. When she was elected to the 1991 to 1993 and chaired the 1991 conference in Santa Monica. board, she volunteered for what she describes as an She was a major contributor to the council’s growing global unlikely role for her at the time: to spearhead council interest and to the council’s choice of Mexico City for its 1993 research efforts. conference. In 1995, she received the Bud Fackler Service Award.

Israeli prime minister Rabin assassinated Operation Desert Storm is launched Clinton wins U.S. presidency Chirac elected president of France

1991 1992 1994 1995

First issue of the newsletter New visual identity Return of the Executive Introduction of T-shirt Executive MBA Review for the council MBA Council Program exchange at conference Survey Executive Connections 13

NEW NUMBERS “The surveys are always something that I have on my The council resumed its research initiative with the 1994-95 shelf, and I use them frequently,” says Oslund. “I can back Program Survey. The objectives of the survey included encour- up what I am saying when I need to. The results help me aging sharing of best practices; creating a common set of indus- build a case.” try measures; providing industry perspective; and helping mem- ber schools make continuous improvements in internal Networking All Over operations through fact-based decision making and industry The Executive MBA Council Conference continued to standards. flourish, but members were thirsty for more. Of the 77 member schools that participated, 72 were based in Connie Rieben, director of the Executive MBA Program the United States and five were international. Findings included at the University of Wisconsin–Madison and council board the following: member, helped quench that thirst when she took the lead 74 percent male students in initiating a series of smaller meetings for schools within 26 percent female students a geographic region. 57 percent of students received full sponsorship “The Executive MBA Council strongly believes that these regional meetings are an outstanding opportunity for 14 percent of students received no sponsorship

Executive MBA Program directors to meet new colleagues, 32 percent of participants offered career counseling network with old friends in their regions, and have a Almost half of the faculty who taught in programs were full chance to see other campuses,” wrote Rieben in a fall 1997 professors. article for the Executive MBA Council newsletter. More than 30 people attended each of the first three Survey participants rated newspaper ads and information sessions as the most effective marketing techniques. regional meetings, which took place in 1997. They included the Midwestern Region at the University of Notre Dame, hosted by Arnie Ludwig; the Northeastern Regional Meeting at the Wharton School of the University of “There was a lot of laughter,” says Kantor, 1996-97 Pennsylvania, hosted by Cathy Molony and Howie Kaufold; council board chair. “It was the kind of group where and the Southeastern Regional Meeting, hosted by Craig everyone enjoyed each other. There was always a feeling McAllaster at Rollins College. like you really had a place.” The response to regional meetings grew quickly; the For many council members, professional associations next year, a fourth was added, the Western Regional Meet- turned into friendships. In June 2006, several current and ing. By 1999, six regional meetings were held, including former council members organized a weekend reunion the first European Regional Meeting in Paris. trip. The group plans to continue their special gatherings. “I’ve made wonderful friends thanks to the council,” Lifelong Colleagues says Oslund. “They have supported and encouraged me to Now assistant dean, administration and executive educa- reach higher. I truly don’t think I would have stayed in this tion, at Northwestern University, Erica Kantor recalls her business without the council.” council experience with fond memories.

Taliban conquers Afghanistan Email becomes popular—explosive growth of internet

1996 1997 1998 1999

Exploration of strategic First council web site First Student Exit First council international alliances Satisfaction Survey regional meeting in Paris First corporate members First Asian and Latin American First regional meetings regional meetings 14 Executive Connections

A PRESIDENTIAL VISIT This is the story of international flavor. This is the story of And this is the story of how Mexican President Carlos the 1993 Executive MBA Council Conference, which took place Salinas kept then United States Attorney General Janet Reno in Mexico City, Mexico. waiting while he spoke with Executive MBA Council members This is a story that shows how conference organizers shined at his palace for almost an hour. in their ability to respond to some unusual challenges and The council selected a timely location for the 1993 confer- deliver one of the most memorable conferences for participants ence: Congress was preparing for a vote on the hotly contested who attended. North American Free Trade Agreement (NAFTA) legislation, and eager to build on its relationship with the U.S., Salinas accepted the speaking invitation from the council. But the road to the president wasn’t easily maneuvered. The council first made arrangements with the hotel for his appear- ance, but his secretary later informed council organizers that Salinas could not make it to the hotel. In a change of plans, conference participants instead traveled to Los Pinos, the offi- cial presidential residence. Then, the night before the speech, the president’s representatives broke even worse news: Salinas only had time to welcome the group, because he was also scheduled to meet with Reno. Then council chair, George Abraham was not happy at that news. He devised an introduction for the president that was designed to communicate the influence of the group. “Our collective influence is exponential,” said Abraham in his introduction. “As a group of 120, we collectively train 7,000 managers. They, in turn, lead, guide, and influence tens of thousands of professional and technical personnel.” The message was heard. Instead of a gracious hello, Salinas talked for almost an hour. “Outside the door was Janet Reno,” says Abraham. “He impressed us quite a bit, but we impressed Pictured left to right, first row: Kevin Fertig, University of Illinois; Carlos him, too.” Salinas, President of Mexico; Andrea McAleenan, UCLA. Second row: In addition to making its mark on council members who Daniel Dolan, U.S. Embassy; Barry Leskin, University of Southern California; Kathryn Carlson, University of Minnesota. Third row: Maureen attended, the conference moment also made national head- Colegrove, Georgia State University; Allen Bailey, San Diego State lines. A story about the speech and the Executive MBA Council University; Richard Scaldini, Washington University; George Abraham, University of New Hampshire. Fourth row: William Laidlaw, AACSB; appeared the next day in the Mexican national media, complete Hank Woudenberg, Kent State University; John Baker, Cleveland State with photos. University; Judith Anderson, George Washington University. Photo taken at Los Pinos, during the 1993 Mexico City Executive MBA Council Conference.

FROM OUR MEMBERS 20 years and counting In June 2006, the 20th graduating class of the Oregon In 1985, the business schools of Oregon’s three largest Executive MBA Program completed graduation cere- public universities joined together to create a partnership monies. James Bean, dean of the Lundquist College of to offer a high-quality Executive MBA Program. Today, the Business at the University of Oregon, delivered the opening Oregon Executive MBA is the only consortium Executive remarks and John Miner, 1988 Oregon Executive MBA MBA Program in the country. graduate, was the commencement speaker. Forging its Own Path 2000-06 New initiatives result from a pledge of independence

In the late 1990s, the Execu- Or do we look forward to what more we can do and what we can do better?” tive MBA Council Board of The council was looking forward and moving toward status as its own Trustees reached a crossroads. independent organization. “The question now is what Marci Armstrong, associate dean, Masters Programs at Southern to do,” wrote Maury Kalnitz as Methodist University, served on the board as the council weighed the board chair in 1998. “Do we Maury Kalnitz pros and cons of the move. “It was an Executive MBA enormous decision,” she says. “We sit back and revel in our Council spent time in and out of meetings accomplishments; our growth talking about the benefits and the implications.” On the one hand, the council’s long-standing adminis- in membership, the fantastic trative arrangements with the Association to Advance Collegiate Schools of Business (AASCB International) were conferences every year, our critical to the council’s birth and early development. On extremely useful benchmarking the other hand, the council had grown in a relatively short time into a much larger association than anyone antici- studies, our excellent and pated in the early 1980s. “We were coming to the point where it was as if the useful directory? council had been in its infancy and now had grown and was ready to leave the nest,” says Armstrong. Led by chair David Poole, then with Pepperdine University, the board decided to take the leap. In 2000, the

RESEARCH: THEN AND NOW A side-by-side comparison of 1987-88 2005 some comparable statistics Average number of enrolled students 82 116 from the first council survey to the most recent one shows Average age 36 35.9 differences—and some Average years of managerial experience 7.5 7.9 similarities. Corporate sponsorship 70% full fee / 10% none 35% full fee / 32% none

Gender 78% male / 22% female 74% male / 26% female

Average GPA 3.1 3.15 16 Executive Connections

Executive MBA Council became independent, maintaining First Steps an ongoing collaboration with AASCB International but “We wanted to make the change seamless to members, taking charge of all operations and offerings. and we also wanted to take the opportunity to start offering members new services,” says Armstrong. There was much to do to turn the decision into reality. GET YOUR MOTOR RUNNING The board began the search for a managing director to Sometimes you just never know where membership in the oversee council operations, and it resulted in a candidate council might take you. Consider the case of the Harley trip. who both knew the business and the council. John Fraser, director of the Executive MBA Program at the Kalnitz first entered executive MBA education after he University of Iowa (left on motorcycle), and Merle E. Giles, retired from IBM. He joined Georgia State University as who was then director, Executive MBA Programs, University of director of its Executive MBA Program and attended his Illinois at Urbana-Champaign (right on motorcycle), both enjoy first Executive MBA Council Conference in New Orleans. riding motorcycles. They discussed this shared interest and He quickly became involved, first helping with the Seattle decided one day to ride to the open road together. Their conference, then co-chairing with Connie Rieben from the destination: An Executive MBA Council regional meeting. University of Wisconsin at Madison the 1996 conference in The two arrived by motorcycle to the July 2004 Executive Chicago, and becoming board chair in 1997. MBA Midwest Regional Meeting at the Weatherhead School of He left executive education in 1998, but his background Management, Case Western Reserve University. The meeting and experience made him a great candidate to help the attracted 33 members from 19 schools and organizations, also organization embark on its next chapter. In 2000, he pictured here, who arrived by more traditional means. rejoined the council as its first managing director. “My experience as an Executive MBA student was an extremely valuable one for me,” says Kalnitz. “It really enabled me to make quantum jumps in my career. I felt then and still do now that we are doing much for students and business through these programs.”

The Core The board and conference committee worked hard to make the Newport Beach conference, the first conference of the independent organization, a successful one. When it was, the board turned its sights to honing the council mission and looking at new initiatives. The council reaffirmed its strengths by adopting a mission to educate, inform, and network, and by pursuing new opportunities.

World Trade Center disaster SARS spreads from Asia Vincente Fox elected Euro becomes legal tender to America and Europe president of Mexico Enron Corp. bankruptcy scandal

2000 2001 2002 2003

First Managing Director: First Teaching Effectiveness First Marketing and Switch to annual surveys Maury Kalnitz for Faculty seminar Admissions Program Online program directory and Independence as non-profit Silent Auction charity event school research portal introduced organization introduced at conference International membership nears 25 percent Executive Connections 17

In 2001, the council offered its first seminar on teaching LEADERS ALL! for faculty members. Teaching Effectiveness for Faculty Thanks to the chairs of the Executive MBA Council, whose continues as a way for faculty to strengthen their teaching leadership guided the council through many milestones. abilities in Executive MBA Program classrooms. In 2002, the council collaborated with the Graduate 1988-89 Tom Ference, Columbia University

Management Admission Council (GMAC) to offer the 1989-90 David Ewert, Georgia State University Marketing and Admissions Program, a five-day course that focuses on recruitment and admissions issues for Executive 1990-91 Ed Wilson, Northwestern University MBA Program staff. 1991-92 Kevin Fertig, University of Illinois at In 2004, the board adopted a communication plan that Urbana-Champaign guided the consistent branding of the organization. In the 1992-93 Maureen Clancy-Solero, New York University next three years, the council strengthened its visual iden- (through December 1992) tity, developed core communications, and redesigned its 1992-93 George Abraham, University of New Hampshire web site. The council also expanded its research efforts (see related 1993-94 Kathryn Carlson, University of Minnesota story, p. 18), again working with GMAC on research to help 1994-95 Martin Rapisarda, Purdue University document the value of the Executive MBA. 1995-96 Erica Kantor, Northwestern University

The Same 1996-97 Barbara Nelles, St. Joseph’s University While much has changed with the council and with the industry since 1981, some important elements remain the 1997-98 Maury Kalnitz, Georgia State University same. The council today has kept its camaraderie, despite 1998-99 David Poole, Pepperdine University growing competition in the marketplace. 1999-00 David Poole, Pepperdine University “I am very thankful that the council has been able to maintain the collabo- 2000-01 Marci Armstrong, Southern Methodist University rative spirit that was the driving force 2001-02 Peter Nowak, Suffolk University for the early organization,” says Penny Oslund, director of the Executive MBA 2002-03 Erika Steuterman, Purdue University

Program at the University of North 2002-03 Catherine Molony, University of Pennsylvania Carolina, Chapel Hill. (Interim Chair) In turn, that collaborative energy Penny Oslund 2003-04 Penny Oslund, University of North Carolina, University of North has impacted council members. Chapel Hill Carolina, Chapel Hill “It has changed my professional life in many ways,” says Armstrong. “I learned so much, and I 2004-05 George Bobinski, Binghamton University/SUNY still continue to learn.” 2005-06 Jana Allen, Rollins College

2006-07 Barry Van Dyck, University of Notre Dame

Pope John Paul II succeeded by Rising concern about global warming European Union expands to 25 nations Cardinal Joseph Ratzinger Prime Minister Tony Blair Indian Ocean tsunami disaster Hurricane Katrina destroys New Orleans resignation imminent

2004 2005 2006 25th anniversary celebration!

Web site redesigned First non-North American based Council member programs: 324 100 percent participation (full conference, Barcelona, Spain Debut of Student Entry census) in the Program Survey Research collaboration with GMAC Benchmarking Survey Debut of Exchange, online newsletter to measure return on investment Highest participation ever in Student Exit and magazine Online prospective student referral mechanism added Benchmarking Survey 18 Executive Connections

VALUE The council’s research initiatives have come a long way since • Increasing collaborations with GMAC its first survey of programs in 1987. • Building the online directory of programs that offers From the council decision to annually survey its membership prospective students information about programs to the addition of the Student Exit Benchmarking Survey to In 2006, the council began a new initiative: The Student Entry collaborations with the Graduate Management Admission Coun- Benchmarking Survey, which offers members the opportunity to cil (GMAC) on measuring the value of the degree, continuous benchmark and gain competitive information to improve their improvements in research have led to a clearer picture of marketing, recruiting, and admission process. programs and the industry as a whole. “For our membership, research can serve a number of George Bobinski, associate dean, purposes,” says Bobinski. “It allows them to compare their pro- Binghamton University/SUNY, listened to a grams to others, become aware of new trends, and understand presentation of research results at the first best practices.” conference that he attended. After offering Results from more recent studies are helping show the some ideas, he was invited to participate impact of the Executive MBA. Some key findings include: in the research committee. Since then, he • The overwhelming majority—99 percent—of Executive MBA has been involved in enhancing council participants would recommend the program to others.* George Bobinski research initiatives and collaborations with • Almost half of Executive MBA graduates report new responsi- Binghamton GMAC, in addition to serving as board bilities as a result of entering the program and about one-third University/SUNY chair in 2004-05. receive a promotion during their program.* Highlights of the most significant progress in research efforts • About 80 percent of the graduates say their value increased to include the following: their organizations as a result of entering the program.* • Committing to annual surveys • Almost all graduates say the program either met or exceeded • Moving from paper surveys to electronic-based data gathering their expectations.* • Combining the program survey with renewal of council • On average, it takes approximately 17 months from the start of membership and directory listings a student’s program for a company to gain its return on • Collecting information about all council member programs investment.** • Achieving a census in participation * Executive MBA Council research • Adding questions to reflect new issues ** Graduate Management Admission Council and Executive MBA Council • Continually enhancing survey administration research of corporate sponsors

FROM OUR MEMBERS A Tribute My favorite memory of the Executive MBA Council is oped a strong network with schools all over the world, and always will be associated with Cathy Molony. I guess which was translated into international programs, faculty that she does not like to be mentioned exchanges, and shared experiences. this way, but it is a matter of gratitude But beyond all that, I built a great friendship with Cathy from my side. I remember the way that and many others at the council. And that is, for me, the she encouraged me to attend the next best of all. conference during one of her visits to Patricio Fay Buenos Aires. And she was supportive Professor, Organizational Behavior, and Director, during the conferences, introducing International Programs, IAE Business School me to friends and colleagues and ask- Cathy Molony Buenos Aires, Argentina University of ing frequently if I needed something. Pennsylvania From the perspective of someone coming from a different part of the world, it was extraordi- nary help. And it proved to be very effective, since we devel- 25 Years and Changing Trends The Executive MBA and the Executive MBA Council continue to adapt

Jana Allen entered the Allen benefited from the experience and encourage- ment of members who worked in programs for years, “It Executive MBA industry in was just amazing,” she says. “The conference directly applied to what I did, and I wanted more.” 2000 and attended the toolkit She then registered for the first Marketing and Admis- session, now known as EMBA sions Program in 2001 and volunteered to assist with the 2002 conference in Fundamentals, at the 2000 Keystone, Colorado. After chairing the 2003 conference in Atlanta, Allen Executive MBA Council joined the council board and became Conference. chair in 2005. Allen was recently appointed

Jana Allen director of the Executive MBA and Rollins College Saturday MBA Programs at the Crum- mer Graduate School of Business at Rollins College, establishing another council connection. “I am honored to have received this appointment and to have the opportunity to work with a talented group of faculty and staff under the leadership of Dean Craig McAllaster,” says Allen. “McAllaster was a co-chair of the 1998 Executive MBA Council Conference in Scottsdale, and served on the council board.” With co-chair Dianne Bevelander from RSM Erasmus, Allen also led one of the council’s most recent milestones —its first non-North American conference, held in

IN THE NEWS “To bolster leadership abilities, many Executive MBA Programs are increasing their focus on strategy and leadership and on higher management functions. In addition, they are integrating the curriculum to ensure that students not only understand functional areas, such as finance and marketing, but the ways in which functional areas combine to strengthen an organiza- tion’s competitive position. Many programs also are emphasizing skill development in key leadership areas, such as communication and negotiation. The changing focus of programs will remain consistent in one goal: to offer the knowledge and tools that participants need to become complete business leaders.” Charting Changes, Money Markets, 2006 20 Executive Connections

Barcelona in 2005. The Barcelona conference resulted More than 90 percent of students complete their from one of several trends that have impacted both the program in less than two years, but research shows that council and its membership throughout the years. programs are offering shorter schedules. In 2000, more than 50 percent of programs finished in Success 21-22 months, according to results of the Executive MBA The growth of Executive MBA Programs—from 11 in Program Survey. In 2005, that number dropped to 27 the 1960s to 317 by 2005 (see chart, p. 21)—is a dramatic percent. Conversely, the percent of programs that take change, by any measure. 19-20 months to complete increased from 9 percent in Recent growth in international programs seems to mir- 2000 to 17 percent in 2005, and the percent of programs ror the dramatic growth in programs that occurred in the that are 17-18 months in length increased from 10 percent United States throughout the 1980s and 1990s. in 2000 to 17 percent in 2005. In addition, more programs are incorporating some International Brand element of distance learning; in 2004, 17 percent of all The reach of today’s Executive MBA Programs extends programs used distance learning tools, but in 2005 that beyond the boundaries of countries. number increased to 36 percent. Executive MBA Programs have developed many creative models to both expand internationally and to offer stu- Value for All dents unique international business perspectives and The majority of students received full sponsorship from experiences. Most Executive MBA Programs also include their organizations in the early days of Executive MBA an international trip as part of their curriculum and cover Programs. While most students continue to receive some international business issues in classes. support from their organizations, increasing numbers are paying for part or all of their education. Flexibility As a result, more than ever, business leaders and In the past several years, Executive MBA Programs have their organizations want to understand the return on been making adjustments to format and schedule, as well investment. as incorporating elements of distance learning.

FROM OUR MEMBERS Happy Anniversary The Rollins College Crummer Graduate School of Busi- The Crummer School strives to keep pace with the ness in Winter Park, Florida, congratulates the Executive changing business environment. Recently, we created a more MBA Council on 25 years of service to the academic commu- meaningful international study program. We enhanced the nity. The Crummer School is also celebrating a quadrennial Executive MBA Global Research and Study Program (GRASP) anniversary with the enrollment of its 25th EMBA class. by enabling students to stay longer in one location, incorpo- In 1994, I joined the Executive MBA Council, and one of rating more corporate site visits, and requiring students to my favorite memories was an annual conference in Arizona. conduct independent research projects during the trip. After a day of stimulating sessions about leadership, a I congratulate the Executive MBA Council for the advocacy conference manager led an outdoor excursion up a and professional development opportunities that it provides mountain. The exercise was the perfect compliment to the to its members. The council models the maturity and indoor curriculum. professionalism that each school tries to One trend affecting programs across the country is the provide in its own Executive MBA Program. declining level of corporate tuition reimbursement for such programs. Although recruiting is more challenging, I believe Craig M. McAllaster, Dean it has a positive effect on student attitude. Our executive Crummer Graduate School of Business students, because they have invested their own personal Rollins College dollars in their education, are more engaged in class and Winter Park, Florida more philanthropic after graduation. Executive Connections 21

Research studies by the council and the Graduate And Next? Management Admission Council show the impact of an No doubt, change will remain a constant for Executive Executive MBA education (see page 18). The statistics reveal MBA Programs, but they will continue to evolve to serve a that most organizations gain immediate benefits even basic marketplace need—that of business leaders who are before a student completes a program. They are consistent preparing to move their organizations forward. with students who report that they are able to take what “The value of an MBA is recognized,” says Allen. they learn in the Executive MBA classroom one day and Allen also sees the council remaining faithful to its apply it at work the next day. members’ needs and to its long-standing tradition of col- laboration. “The council is like the Executive MBA class- Career: A Lifelong Concept room in a sense,” she says, “because you can turn to your Statistics support what many Executive MBA Programs fellow members who are willing to share their experiences. already know: Students are very interested in assistance with “It’s been valuable for 25 years, and I think it will be their careers, and programs are responding. valuable for 25 more,” says Allen. “The Executive MBA Programs that offered on-campus interviews increased Council will always have an impact.” from 18 percent in 2004 to 29 percent in 2005, according to results from the 2005 Executive MBA Council Program Survey. Programs that provided career-related workshops also rose from 55 to 62 percent.

MEMBERS AND MORE MEMBERS All Programs How quickly has the industry developed? A brief 350 New Programs look at the growth of council 300 Total Programs members offers perspective 250 on the growth of Executive 200 MBA Programs. Membership Growth 150 by Decades 100 New Programs 50 Total Programs 0 2/2 11/13 37/50 54/104 124/228 89/317

pre-1960s 1960s 1970s 1980s 1990s 2000s

Increase — 550% 285% 108% 119% 39%+

United States Non-U.S.

250 120

100 200 80 150 60 100 40

50 20

0 0 2/2 8/10 32/42 42/84 76/160 53/213 0/0 3/3 5/8 12/20 48/68 36/104

pre-1960s 1960s 1970s 1980s 1990s 2000s pre-1960s 1960s 1970s 1980s 1990s 2000s

Increase — 400% 320% 100% 90% 33%+ Increase — — 167% 150% 240% 53%+ 22 Executive Connections

THE MAIN EVENT The Executive MBA Council Conference is often the first contact for new council members, and the one conference that many members look most forward to attending. A brief conference retrospective follows. 1992—(left to right) Richard Scaldini, Washington University; Susan Bunker, 1994—(left to right) John Baker, Boston University; Anita Craig, AACSB; Cleveland State University; Don Bell Maureen Colegrove, Georgia State and Kathryn Carlson, University of University; Win Van Buren, Erasmus Minnesota; Kevin Fertig, University University of Illinois at Urbana

1994—Richard Scaldini, Washing- ton University; Martin Rapisarda, Purdue University; Ron Brown, U.S. Secretary of Commerce; Kathryn Carlson, University of Minnesota; Chuck Hickman, AACSB; Andrea McAleenan, UCLA

Executive MBA The Challenge of Programs: Masterful Executive MBA Executive MBA Direction Educating International Executive MBA Strategies for Mature Programs: Insighters and Change: Managing Executive MBA Futures Managers: An Workshop Programs Trading for the Future, Innovation and Options Immersion Program Houston, Texas Boston, Massachusetts Toronto, Canada San Antonio, Texas Santa Monica, California Mexico City, Mexico

1981 1985 1987 1989 1991 1993 1983 1986 1988 1990 1992 1994

Developing Quality in The State-of-the-Artful Looking from the Inside Setting the Course Challenge 1992: The Executive Executive MBA Relations Out: The Structure, for the 90s Competition and MBA 2000 Programs San Francisco, California Operations, and Orlando, Florida Integration Washington, D.C. Atlanta, Georgia Marketing New Orleans, Louisiana Denver, Colorado

2001—(right) Diane Badame, University of Southern California; Merle Giles, University of Illinois at Urbana/Champaign

2001—Erica Kantor, Northwestern University; 1994—(left to right) Ed Leonard, Emory University; David Poole, Pepperdine University; Martin Erica Kantor, Northwestern University; George Rapisarda, Vanderbilt University Abraham, University of New Hampshire

1996—Barbara Nelles, Saint Joseph’s University; Dave Ewert, Georgia State University

2001—Cathy Molony and John Lyon, Wharton School, University of Pennsylvania; Marci 2001—Jim Parker, Pace University; Kate Armstrong, Southern Methodist University Livingston, Executive Connections 23

2002—Marci Armstrong, Southern Methodist University; Peter Nowak, Suffolk University

2002—(left to right) John Lewandowski, Purdue University; Maury Kalnitz, Executive MBA Council; Dennis Cooke, University of Denver; David Hanson, Emory University; Karen Mc Lintock, Executive MBA Council; Diane Cleton, Erasmus University; Joe 2004— Dave Wilson and Nicole Chestang, GMAC; Hogan, University of Colorado; Jana Allen, Baylor University; Donna Blackburn, Maury Kalnitz, Executive MBA Council; Penny Oslund, Georgia State University; Erika Steuterman, Purdue University; Audrey Haas, Boston University of North Carolina at Chapel Hill University; Jeff Bieganek, University of Minnesota

Navigating the Future Back to the Future: The Global Campus: Inspired Leadership: of the Executive MBA: Embracing Market Expanding in a Create, Compete, Strategy, Technology, Prepared to Lead in a Changes in the New Shrinking World Communicate, Collaborate and Operations Global Environment Millennium Philadelphia, Dare to be Different Seattle, Washington Montreal, Canada Orlando, Florida Pennsylvania Atlanta, Georgia Barcelona, Spain

1995 1997 1999 2001 2003 2005 1996 1998 2000 2002 2004 2006

Challenged to Lead Seizing the Initiative, NO BOUNDARIES! Scaling New Heights: Building Bridges, Navigating in a Sea Best Innovations and Educate, Network, Creating Connections of Change Chicago, Illinois Newport Beach, Practices in the and Inform California San Francisco, California Baltimore, Maryland Executive MBA Keystone, Colorado Scottsdale, Arizona

2004—(left) Peter MacDonald, Association of MBAs; Luis 2005— (below) Donna Umana-Timms, INCAE Blackburn, Georgia State University; Patty Keegan, University of Chicago

2004—(right) David Moayad, Orion Worldwide Travel; Jennifer Kopac and Karen Hallows, George Mason University

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PHONE 877.45EMBAC 714.628.7334 E-MAIL [email protected] WEB www.embac.org

2005-06 BOARD OF DIRECTORS Jana Allen, Chair Rollins College George Bobinski, Past Chair Binghamton University/SUNY Barbara Carpenter Thunderbird, The Garvin School of International Management Beatrix Dart University of Toronto John Fraser University of Iowa Anne Herbert Helsinki School of Economics Lyn Hoffman London Business School Patty Keegan University of Chicago Bronica Sam University of Washington Darlene Brannigan Smith University of Baltimore Barry Van Dyck University of Notre Dame

EX OFFICIO Antoinette (Toni) Durkin Corporate Liaison The Washington Campus Maury C. Kalnitz Managing Director Executive MBA Council