School B Changing...

Lately, as we move along every year, there have been quite a bit of "strategic" changes happening around the B Schools - I mean from the time a student can walk in to the time (s)he walks out. Let's see what are all some of the changes...

Wink at GRE - First of all, like any other school B-Schools are also looking for the best of the best of the best candidates to join their program. And their outlook has been becoming broader - They really would like to tap potentials of prospective hidden candidates from various communities & cultures all around the world including the developing countries. Just looking at the developing countries, the initial hardship before even applying for a B-School is the GMAT. Because the cost of taking the exam is like USD250/-. Do we have an alternative? Looks like "yes" as Stanford just announced that GRE scores are also acceptable which is comparatively much cheaper. Cool! The BusinessWeek article also points out that

"Accepting the GRE isn't the only way Stanford is trying to reduce the up-front costs of applying. Like several other schools, Stanford already offers waivers of its $235 application fee for college seniors receiving financial aid."

Well, not sure if they have reduced their fee structure! But who cares, because without self sustainance people can't think about entering business schools in US. As we go ahead, we should be seeing more & more top ranked schools in the same path because for me, GRE is more competitive than GMAT!

Redefining Flexibility - The course works offered currently in the schools are no more following the defined protocols. They are more custom oriented & user friendly. "Ultimately, customers define the rules." - Isn't that the basic motto behind any business? And till now the business schools haven't followed it. As per the rule, courseworks are basically designed and handed over to based on an individual's skillset, knowlegde, experience and future plans! This hasn't been new because till now and even now students tend to design their own "course work" based on their interests & enthusiasm. That's how I did mine. It's just that the same has started coming from the other direction - The Organizers!

Managing P's - All these days, the compulsory course for any B School graduate is 'Organizational Behavior'. Things are changing based on the the current trend of conducting business - Become EcoFriendly. Have you heard about Ecomagination from General Electric? Why is the auto industry moving towards Ethanol based gasoline (besides being cost effective)? To cater that growing trend in the market, MBA's are redefined - Like the Green MBA from New College of California! As quoted

"This is a full-time, two-year, 4-semester program in which we seek solutions that promote financial viability, ecological sustainability, and social justice."

So, are you still wondering what those 3P's stand for. AmericanWay magazine defines them as 'People, Planet & Profits'!