Editorial
specializations
Strategy and leadership –
What’s the big idea?
By James Donald and Ross Geraghty
I
n the 2008 QS TopMBA Applicant Survey, which canvassed thousands in the workplace. So what are business schools teaching with regard to
of international MBA candidates on their current situation and MBA strategy and leadership, and what exactly makes the best programs in
motivation, almost half of all respondents (46 per cent) listed strategy as each specialization the best?
a core specialization of interest. In the multiple-choice question Leadership
remains in the top five with 36 per cent of respondents expressing a direct interest. Strategy – looking inside and outside
(See Table 1). “Graduates need to have the ability to assess the external environments they
Business schools establish international reputations around core are operating in, as well as understanding the internal strengths and weaknesses
specializations and it will come as no surprise that several of the world’s most of their organizations,” says David Bach, Associate Dean of MBA programs at
famous MBA courses have a very strong reputation among recruiters actively IE Business School in Madrid. “Those that do this well, and can find and seize
searching for MBAs with highly advances skills in Strategy and Leadership. the opportunities outlined in these processes, are highly prized and will add
The QS TopMBA Global Recruiters’ Top 100 Business Schools, which ranks value to any organization they work for.”-
MBA programs according to the responses of 500 of the world’s leading Because of its importance, Bach says: “Strategic management underpins
international MBA recruiters across 18 industries, establishes a clear precedent much of our program. Students undertake core classes which focus on the
for what is important to them and which schools provide the strongest core skills and processes related to constructing and refining company strategy.
graduates in those fields. Advanced modules look at the implementation and management of strategic
Candidates can conduct their own personal ranking, according to their plans, as well as differentiating strategies for different markets and
own criteria, by registering for free at www.topmba.com/scorecard. These are industries.”
the current top ten schools for strategy and leadership specializations (US For Janet Shaner, Director of MBA Marketing at IMD in Switzerland,
unless stated): strategy is a key skill: “Strategy for companies and corporations is formulated
strategy
school and executed in an increasingly changing environment influenced by
Ranking*
leadership
political, technological, economic, global, competitive and social forces.
Harvard Business School 1
The Wharton School, University of
Managers must strive to understand these interacting forces and develop
Pennsylvania
successful and sustainable competitive and cooperative strategies.”
The Wharton School, University of
At IMD, strategy is a major constituent of their building block courses.
Pennsylvania
2 Harvard Business School
Shaner continues: “We focus on how the participant, in the position of a
Stanford University Graduate
general manager, can enhance and sustain performance by making sound
School of Business
3
The Kellogg School of Management,
Northwestern University
strategic decisions at the business unit level and making robust judgments in
the face of significant uncertainty, risk, information scarcity, and
INSEAD (France/Singapore) 4
Stanford University Graduate
School of Business
complexity.”
IMD (Switzerland) 5
Stephen M. Ross School of
Business, University of Michigan
Leadership – judgement, courage, integrity
The Kellogg School of Management,
Jeff Klein, Director of the Graduate Leadership Program, The Wharton
Northwestern University
6 London Business School
School, University of Pennsylvania, says: “Leadership and strategy are by
Columbia Business School 7 Sloan School of Management, MIT
nature very connected. One metaphor we use for leadership is navigating
in the outdoors – you need to define where you want to go and then define
Sloan School of Management, MIT 8 IE Business School (Spain)
how you want to get there. The first part is about creating a vision and a
goal, and the second part is about creating a strategy. The third part of
IE Business School (Spain) 9
The University of Chicago Graduate
School of Business
leadership is implementation. Having aligned the group around a common
The University of Chicago Graduate
vision and charted a path to success, leadership then becomes enacting
School of Business
10 INSEAD (France/Singapore)
the strategy (and planning for and reacting to all of the changes, new
* Schools ranked by QS TopMBA Global Recruiters’ Top 100 Business Schools 2007 information, and dynamics present in the group).”
For some schools, the distinction between strategy and leadership is less
Recruiters are ideally placed to quantify what business schools should defined. Strategic Leadership is one of the required courses at the Stanford
be providing their MBA students with in order to satisfy recruiter needs Graduate School of Business and examines the fundamental issues of general
76 TopMBA CAreer Guide www.topmba.com
MBA_FALL_08_pp_066-287.indd 76 14/8/08 17:31:57
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