FAIRFIELD — Sacred Heart University has announced a new doctorate of business administration (DBA) in finance program.
Scheduled to launch in September 2014, the new initiative represents the first doctoral program offered by SHU’s John F. Welch College of Business. The school has also recently added master’s degrees in accounting, digital marketing and human-resource management.
The 45-credit degree was licensed by the state’s Department of Higher Education in August and is among the fewer than five percent of business schools worldwide that are accredited by AACSB International (Association to Advance Collegiate Schools of Business). Coursework will require two years in the classroom followed by one year for researching and writing a dissertation.
“The DBA in finance is student-focused, aligned with the participants’ interests and career aspirations,” explained SHU professor Lucjan T. Orlowski, chair of the Department of Economics & Finance and director of the new DBA program. “It is intended to train high-level critical thinkers and analytical minds who can contribute to the challenges of a complex and dynamic global business world.
“Students will broaden their knowledge of finance and acquire up-to-date applied research and analytical skills necessary for advancing their careers at financial institutions, consulting firms, other business organizations, government agencies and, potentially, in academia,” Orlowski added.
Orlowski said the program is intended to be highly personalized, leading to a specialized dissertation research project aligned with students’ specific interests and goals. Degree candidates will also participate in DBA field seminars, customized per student in the areas of fixed income securities, investments, micro-market structure, derivative securities, international finance or portfolio management.
“The program is perfect for executives who want to expand the knowledge that they already have or to acquire new expertise that can either elevate their current career path or lead them in a new direction,” Orlowski said. “This applied research doctorate is the future of education in business.
“Extending beyond the master’s degree is becoming the new normal,” he said.
Area MBA programs are as diverse as the institutions that offer them
Talk about an embarrassment of riches.
Both ambitious college students seeking to get a leg up on the competition as they begin their business careers, as well as mid-career managers and executives with ambitions to rise to a higher level within their organizations, will likely consider pursuing a post-baccalaureate business degree to advance their careers.
If such strivers live or work in greater New Haven, they are in luck: Fully a half-dozen institutions of higher learning offer master’s of business administration (MBA) or similar post-graduate degree programs. These programs are as diverse as the institutions that offer them.
Business in the 21st century is more competitive than ever, a reality that is mirrored in the competition among universities to attract highly qualified MBA candidates.
What follows are profiles of the six institutions in south-central Connecticut that offer graduate business degrees.
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Institution: Albertus Magnus College
MBA program began: 2002
Type of MBA programs: MBA in accounting, general management, human resources, project management, leadership and marketing. Blended classes combine online and on-ground class time, or either one without the other
Total MBA students: 107
No. hours, credits, time to degree: Full-time 5-year plan includes earning bachelor’s degree in a business program plus 1 year more in the MBA program; For part-time or full-time, a total of 48 credit hours; completion in 18-24 months
Prerequisites: Bachelor's degree from a regionally accredited college or university; official transcripts from all institutions of higher learning previously attended; two letters of recommendation from former professors or professional associates; proficiency in English language, demonstrated by at least three years of successful academic work at a college or university using English as the primary language of instruction and evaluation, or by a satisfactory score on the TOEFL (Test of English as a Foreign Language) exam; written essay detailing the applicant's professional interests, reasons for applying to the program and educational expectations; plus completed application form and $50 fee.
Costs: For MBA program, $2,313 per 3-credit course
Program dean: Wayne M. Gineo, Ph.D., applied economics, University of Minnesota, MBA program director.
Certifications: International Assembly for Collegiate Business Education (IACBE); New England Association of Schools and Colleges (NEASC). Master of Business Administration, Master of Science in Human Services, Master of Science in Management and Organizational Leadership
Locations: Tagliatela Academic Center, Albertus Magnus College, New Haven and Albertus Magnus East Hartford Learning Center, 111 Founders Plaza (7th Fl.), East Hartford.
Comparing on-ground to online course equality, Wayne M. Gineo, program director of Albertus Magnus College’s MBA program, senses that there isn’t much difference.
“I would say probably not,” says Gineo. “The students are still doing the same amount of work. In fact, a lot of times, even though the online portion is downplayed as a little bit easier, I think it’s more difficult — both on faculty and on students. There’s a lot more effort that has to go into the online work, just to communicate back and forth.” Gineo agrees that most students must motivate themselves when working online.
“It has almost become commonplace now that, in business, in order to advance or climb into the higher levels of management, the MBA is almost required,” adds Gineo. “There are a lot of positions out there that they require an MBA, even at some lower-level management positions.”
Gineo says that for the time being, an MBA will be considered the “terminal” business degree — even though there are some programs that grant doctoral business degrees.
The prospect of doctoral business degrees “is definitely a possibility — but I think that’s further done the road,” Gineo predicts. “Right now, the bachelor’s degree is also needed, but jobs are requiring the MBA upon entry to a position. Getting the degree is a lot of hard work and takes a great deal of commitment. A lot of times, it’s difficult to balance family life with school and work. It’s a difficult balance.”
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Institution: University of Bridgeport
MBA program began: 1976
Type of MBA programs: MBA in six concentrations, accounting, finance, international business, human resources, management and marketing
Total MBA students: 240 on campus; online MBA begins January 2014
Number hours, credits, time to degree: 30 credits (but may require up to 57 prerequisite credits)
Prerequisites: No work experience required, although most students have at least a year or two. Sampled audiences include one group in mid-20s with a couple of years’ experience, and the other is an older group with multiple years of experience
Costs: MBA requires ten courses at about $2,300 per course, including fees. Total cost approximately $23,000. Program may require up to nine prerequisites (for students who did not study business as undergrads), which also costs about $2,300 per course.
Program dean: Lloyd Gibson, D.Sc., in information systems and communications, Robert Morris University
Certifications/accreditations: Accreditation Council for Business Schools and Programs
Location(s): Taught on Bridgeport campus 6 days weekly, and online
The MBA programs at the University of Bridgeport prepares graduates for what appears to be a tough job market, notes Lloyd Gibson, D.Sc., dean of UB’s School of Business.
“Our MBA with a concentration in accounting, for example, is designed to help prepare potential CPAs to pass the CPA exam and obtain the credentials they need to obtain the CPA designation,” adds Gibson, who earned an MBA with a major in finance and public management from the University of Pennsylvania’s Wharton School of Business and a doctor of science in information systems and communications from Robert Morris University.
“All the projections are for an increase in accounting [jobs] due to changes in tax laws that are requiring more reporting and companies to be more transparent,” adds Gibson. “Our MBA in international business comes at a time when businesses are becoming more global and it’s necessary for employees to have skills that will enable them to work as part of international teams. Businesses are always looking for people with the appropriate skills, no matter what the job market is, and our MBA programs are responsive to those needs. We’re constantly interacting with businesses to make sure we’re staying current with what their needs are so our graduates are prepared for the job market.”
Gibson advises students who are considering an MBA program that it’s important for them to look for schools that are accredited and have the right programs to give them the skills they need to be successful.
“UB’s business school has accreditation from the Accreditation Council for Business Schools and Programs, which is internationally recognized,” adds Gibson “And our online programs are growing due to demands from students, many of whom are working and who are getting these degrees to advance their careers.”
Classes are offered daily except Sunday at various times, although Gibson says the school will consider Sunday if needed. The online MBA will feature the "management" concentration, with elective coursework in human resources and leadership, project management and international issues. Both on-site and online programs are identical in terms of requirements. All courses are taught by professors with terminal degrees or extensive work experience, or both. There are no teaching assistants.
“Partly in response to student needs, we’ll launch our first online MBA programs in January 2014 with a concentration in management,” Gibson explains. “We anticipate the overall online MBA program to grow. The program is designed for students to complete their MBA in one year. We’ve also been offering weekend MBA programs that are popular with working individuals.”
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Institution: University of New Haven
MBA program began: 1969
Type of MBA programs: MBA in marketing, business strategy and leadership, sports management, sports industry; created the certificate in business intelligence and international business; Executive MBA
Total MBA students: 260 in MBA program; 30 in Executive MBA program
Number of hours, credits, time to degree: 4 credits per course, 16 courses, taught in trimesters with 6 to 8 credits per trimester, 2.5 years average completion leading to MBA degree
Prerequisites: For MBA degree and EMBA degree, bachelor’s degree is required. For MBA, 3 to 5 years of work experience is required. For the EMBA, 10-plus years of work experience, mostly in a management role, is required.
Costs: $800 per credit hour for MBA program; $56,000 for Executive MBA.
Program dean: Elizabeth B. Davis, Ph.D, University of Pennsylvania, Wharton School of Business
Certifications/accreditations: Association to Advance Collegiate Schools of Business International (AACSB)
Locations: Orange campus, 584 Derby-Milford Rd., Orange (former Hubbell corporate campus); satellite location in New London. Location on Saw Mill Road in West Haven and classes currently taught on campus in West Haven will move to Orange campus.
Concerning UNH’s Executive MBA program, Dean Elizabeth Davis notes that candidates for the degree already have accumulated several years of business experience and are taking the course to fine-tune their abilities for better management.
“The Executive MBA assumes that a student has business knowledge. So now, how do we bring it all together?” says Davis. “How do we advance the strategies of your enterprise? How do we insure the viability of the enterprise? How do we deal with the larger global industry? The individuals who attend the EMBA course are more experienced.”
“One thing we’ve done that’s a little bit unique this year is we launched our foundation courses online,” says Davis. “ We have what we call the ‘waiveable core’ that students can literally apply to, be accepted and actually start the MBA online with these six courses. They can be anywhere in the state, start their MBA with us and finish their foundation courses.”
Davis agrees the MBA degree will give graduates the background to attain positions of higher responsibility within their organizations, and for those seeking new career opportunities, an advantage over others without an MBA.
“I think what we’ve seen in business education is the professionalization of organizations and within that professionalization, it calls for greater credentials,” explains Davis. “If you look at the past 20 years of business education, we’ve gone from this focus of developing undergraduate programs, and the MBA programs, to where the MBA has become necessary. Now, 20 years later, what we find is the undergraduate degree is a given — but now the MBA is a necessary credential for advancement. The MBA was once a desirable degree; now it’s an essential degree. This is due in part to the professionalization of organizations. The expectation is that you now need credentialed professionals to lead a company or a division.”
Davis notes that there is a debate within business about the relative merits of an online MBA versus an on-ground MBA.
“I think the way that business schools have dealt with this, especially those in the Connecticut area, is that because of accreditation standards, there can be no difference in equality between online and on-ground courses,” says Davis. “Most of the accreditation requirements insist that you have full-time faculty teaching both online and on-ground classes. The requirements are well articulated so that you can’t have an online program taught by adjunct professors in a business-school environment where the school is accredited.”
Davis advises those considering enrolling in an MBA program to realize the work requires a serious commitment.
“When you evaluate programs, you can certainly evaluate them on location and degrees of convenience,” she acknowledges. “But in the end, you really need to look at the quality of the faculty because what’s most important, in terms of academic quality, is the work that they’ve done — both professionally and academically. That should be a critical decision point in making a commitment to a graduate program. I truly believe that.”
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Institution: Quinnipiac University
MBA program began: 1985
Type MBA programs: MBA in general studies, supply chain management, healthcare management and chartered financial analysis.
Total MBA students: 550, of which 425 are in online program (begun in 2009)
Number of hours, credits, time to degree: Full-time study: 46 credits, 5 courses per semester, 18 months to completion. Part-time study: 2 courses per semester, 3 years to completion.
Prerequisites: MS in Organizational Leadership requires minimum four years of post-bachelor’s degree professional work experience. The other programs do not require work experience, though it is considered in the admission process. For all programs, students must possess the equivalent of a bachelor’s degree earned from a U.S. institution.
Costs: $895 per credit for the MBA, as well as the MS in Organizational Leadership and MS in Information Technology. MBA degree is 46 credits; MSOL is 33 credits and the MSIT 36 credits.
Dean: Matthew L. O'Connor, Ph.D. is dean of the School of Business and coordinator, Alternative Investments Institute. BA, University of Connecticut; MBA, University of Massachusetts; Ph.D., Syracuse University
Certifications/accreditations: Association to Advance Collegiate Schools of Business International (AACSB)
Location(s): Lender Center, 275 Mt. Carmel Ave., Hamden, which hosts the School of Business, and elsewhere on campus.
U.S. News & World Report ranked Quinnipiac in the top ten of Northern universities offering a full range of undergraduate and master’s-level programs. Quinnipiac’s MBA program is one of five in the nation to partner with the Public Relations Society of America (PRSA) to implement a pilot program aimed at enhancing the strategic communication and reputation management education provided to the nation's MBA candidates.
QU’s MBA curriculum offers a course designed to introduce business students to strategic communications and reputation management.
“Our program is very flexible and that’s one of our strong points,” says Susan McTiernan, associate dean for graduate programs in the Quinnipiac School of Business. “Students have different options in terms of completing faster if they want to.”
McTiernan adds that Quinnipiac was one of the first institutions to offer online classes in graduate studies. Most courses are taught in the Lender Center, where state-of-the-art computer systems and financial software programs are accessible.
“We started offering the MBA fully online in 2009,” says McTiernan. “Our program is fully accredited by the Association to Advance Collegiate Schools of Business International [AACSB], the worldwide elite accreditation for business schools. Less than five percent of business schools in the world hold an AACSB accreditation. We were one of the first fully accredited business schools to offer an MBA fully online. We also offer an MS in organizational leadership and one in information technology. We have a lot of executives in our MBA program but we don’t offer an Executive MBA.”
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Institution: Southern Connecticut State University
MBA program began: 1997
Type of MBA programs: Traditional MBA program, but students may select 9 to 12 credits in areas of specialization
Total MBA students: 132 on campus and online
Number of hours, credits, time to degree: 39 to 51 credits, depending on the student's undergraduate degree. Accelerated program is being considered that would take approximately 14 months to complete
Prerequisites: Four-year baccalaureate degree (or equivalent) from accredited institution. Undergraduate degree in business is not a requirement; qualified students from all backgrounds are encouraged to submit applications. Admission decisions are based on a combination of a student's undergraduate academic performance, professional accomplishment, letters of recommendation, and GMAT scores (GMAT requirement may be waived for student with undergraduate GPA of 3.0 or higher). Applicants with graduate degree may also be exempted from the GMAT.
Costs: $10,998 per year (full time in-state tuition and fees); $383 per credit (part-time graduate MBA students). MBA program is 39 to 51 credits, depending on the student's undergraduate degree.
Dean: Ellen Durnin, Ph.D., business, City University of New York Graduate Center, dean of SCSU’s School of Business; Samuel K. Andoh, Ph.D., economics, New York University, director of SCSU’s MBA program.
Certifications/accreditations: New England Association of Schools and Colleges (NEASC) and National Council for Accreditation of Teacher Education (NCATE)
Location: SCSU’s new School of Business building on SCSU campus
Ellen Durnin, dean of SCSU’s School of Business, agrees an MBA degree improves a candidate’s chances of landing a position or moving up in the corporate world.
“A large percentage of our MBA students are already working,” explains Durnin. “Their ages are probably late 20s and early 30s and many of them are looking to advance their career, or perhaps move into another area. It’s a good mix because they bring some real-world experience to the program.”
“And typically, they know where they want to go, so it’s easier to suggest classes for them in areas that they already know about,” adds Samuel K. Andoh, director of SCSU’s MBA program.
“Our MBA program is a mix,” says Durnin. “There are some on-ground and some online courses and some hybrid courses, the latter of which consist of face-to-face and online classes. Almost all the graduate students I’ve worked with in the past liked the hybrid classes the best because they like the flexibility of some online and some face-to-face interaction with their professors and their fellow students. These are working adults and they can network with each other and can share information. That’s what we overwhelmingly overhear from our students. They don’t want to be fully online.”
“One of the things we are planning to do to help students is to start an accelerated MBA program,” says Andoh. “Students will come in on weekends and take some extra credits. This will move them through the program much quicker and save time. They get the interaction with the faculty and their classmates. We’re doing this primarily because most of our students work and coming to school [on] weekdays is sometimes difficult. We think this will be a great help to them.”
Durnin adds that the traditional program will continue to run as it now stands.
“We want to start the accelerated program in September 2014,” says Durnin. “Students will attend every other Saturday. We think this will let us draw from a larger geographic area. They could get through in half the time than the traditional program. We’re very mindful of the challenges of work commitments and family commitments, yet they want a quality program. We’ve been spending quite a bit of time talking with faculty colleagues about how we address this need.
“We’re the only public university surrounding by a number of expensive private institutions,” Durnin adds. “We are a university of access and we want to offer an option that works for people. When I ask MBA students why they came to Southern, typically they’ll say, ‘I came because of the cost’ or ‘I came for the convenience, but I was very pleasantly surprised by the quality.’ So we want to turn that around because we believe our quality measures up with anyone else’s and we need to find a way to deliver it in a mode that works for them.”
Durnin adds that Andoh and his colleagues created “tracks” within the MBA so that students may specialize in a particular subject.
“They may want to know a little more about finance or accounting or marketing,” she explains. “That has been something that students had asked for and this was an accommodation that we made. I think it’s been a good one.”
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Institution: Yale School of Management
MBA program began: 1976
Type of MBA programs:
MBA, MBA for executives/leadership in health care, Master of Advanced Management, Ph.D. in accounting, financial economics, marketing, and organizations and management, Executive MBA
Total MBA students: 682 (552 MBA, 38 MAM, 48 EMBA, 44 Ph.D.)
Number hours, credits, time to degree:
Varies with program: MBA and EMBA requires 72 units of course work; MAM 42 units of course work.
Prerequisites: For MBA degree, applicants must have a four-year bachelor’s degree from an accredited U.S. institution, or international equivalent, and must have taken either the GMAT or GRE. Applicants must provide transcripts from every college or university attended, submit two professional recommendations, and pay an application fee.
For EMBA, applicants must have a four-year bachelor’s degree from an accredited U.S. institution or international equivalent. International applicants with a three-year degree from an accredited institution are eligible to apply. Applicants must provide a transcript from all colleges or universities attended. All applicants must take GMAT or GRE exam. Two professional recommendations are required and at least one of the recommenders should be in a position to assess the applicant’s performance at his or her most recent job. An employer letter of sponsorship and support is to be submitted by the individual in applicant’s employing organization who has the authority to grant applicant release time on required class days and to allow him/her sufficient flexibility to complete required coursework. (This requirement is waived for self-employed applicants.) A current résumé, including employment history, is required. Two essays are required to provide the applicant with an opportunity to tell the Admissions Committee about her/his life, career and goals.
Costs: Total cost including fees for MBA degree is $59,205. Cost for living expenses is $24,800.
For EMBA and Leadership in Health Care degrees, total cost and fees is $152,500, which also includes a personal electronic device capable of being a reader as well as providing Microsoft Office functions; books, study materials, breakfast and lunch on all class days; on-campus parking; and lodging and parking at the Omni New Haven Hotel during summer residencies and on Friday evenings of all weekend sessions. Application fee of $225 is required.
Deans: Edward A. Snyder, Ph.D, economics, University of Chicago, dean of the School of Management; Anjani Jain, Ph.D., UCLA, senior associate dean for full-time MBA program; David Bach, senior associate dean for EMBA and Global Programs.
Certifications/accreditations: Association to Advance Collegiate Schools of Business International (AACSB)
Location: Edward P. Evans Hall, 165 Whitney Ave., New Haven (beginning January 2014)
The mission of the Yale School of Management is educating leaders for business and society. The school’s students, faculty and alumni are committed to understanding the complex forces transforming global markets and using that understanding to build organizations — in the for-profit, nonprofit, entrepreneurial and government sectors — that contribute lasting value to society.
The school's integrated curriculum, integration with Yale University and active connection to the Global Network for Advanced Management ensure that Yale MBAs both acquire crucial technical skills and develop a genuine understanding of an increasingly complex global context.
In a letter describing his approach to business education, SOM Dean Edward A. Snyder says that Yale is unique among business schools “in its close intellectual and programmatic connection with its home university. Among elite business schools, we have a substantially higher percentage of joint-degree students, which enriches the exchange of ideas in our classes. Both in and out of the classroom, our students and faculty collaborate with Yale’s other professional schools, the Yale World Fellows, the Jackson Institute for Global Affairs, Yale Entrepreneurial Institute, and of course Yale College.”
Snyder adds that the school’s goal is to be the most global among U.S. business schools.
“Yale SOM led the effort to convene the Global Network for Advanced Management, which includes 23 top business schools throughout the world, in April 2012,” adds Snyder. “Global Network schools are co-developing new cases for our curriculum and providing opportunities for our students to connect with top talent throughout the world both in and outside the classroom. Nearly all of the International Experience teams will connect with their MBA counterparts at Global Network schools as part of their schedules, and Global Network Week provides opportunities for 80 second-year MBA and MAM students to take one of five programs of study at Global Network schools and interact with MBAs from other schools.”
FAIRFIELD — Fairfield University’s Program in Applied Ethics and the Rotary Club of Fairfield will present a series of free breakfast ethics discussions open to all beginning November 20. Leaders from the community and the school will share their thoughts on topical issues at the events, which will take place at the FU Bookstore, 1499 Post Road.
“The Ethics of Entrepreneurship” is the theme for the 2013-14 academic year. This topic links with the recent opening of the Fairfield University Accelerator & Mentoring Enterprise (FAME), which supports local innovation and economic development through the combined resources of the university, the town of Fairfield, and the local business community. FAME provides a shared work environment where entrepreneurs and early-stage startups can gather, collaborate, innovate, and access a broad base of investors, customers and partnering organizations.
The inaugural breakfast November 20 addresses “The Creation of FAME: Values and Opportunities.” Speaking at this event will Don Gibson, dean of Fairfield’s Dolan School of Business; Kleban Properties Principal Ken Kleban; and Fairfield First Selectman Michael Tetreau.
The program will run from 7:30 to 8:45 a.m., and a light breakfast will be served. Following the formal program there will be an opportunity to tour the FAME facility, which is adjacent to the bookstore.