A four step program: making employees into MBAs |
- Analyse and assess your employees’ potential: which employees show the greatest potential for development and who would best benefit from the degree? Which new impulses and benefits for your company would you expect from the MBA degree? Executive MBAs, often only studied by a small number of high level managers, typically receive stronger support by their companies than subject specific full-time MBAs. However, the worth of an MBA must be assessed on a case-by-case basis, whereby the value as such differs for a large Blue Chip company compared to SMEs for example.
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- Find an appropriate and suitable MBA program or programs. The program should be a good fit for your employee as well as your company’s strategic objectives. It might even be a consideration to enrol several of your employees in a variety of programs at a business school and get a ‘package deal’ for the candidates. As the value of an MBA or Master often relates to the standing of the respective school, it is recommended to select the most reputable and well-established business school that is realistic for the business and employee. The reputation of a business school might not be highly relevant for the internal processing of tasks, but can potentially enhance a company’s external prestige.
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- Consider a financial support or training program for your employees.
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- Create attractive work conditions for employees completing their MBA so that your business will retain them. All too often, MBA graduates might feel tempted to change employers upon completion of the course if they perceive their work environment as too limiting and restrictive. This might even be the case if other companies do not attempt to recruit your MBA employees, as they would assume that the candidate is faithfully bound to your business.
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