As business and the economy become increasingly global, one might feel as though the world is shrinking—but for business, it also means unprecedented opportunities for expansion and innovation. As it has become easier than ever to communicate and work together across vast distances, so too has it become more likely for organizations to grow their businesses.
For that reason, many prospective business school students are interested in gaining a global perspective on business during their MBA programs. And indeed, there are a number of merits to global training: MBAs with global experience understand the impact of language, culture, local traditions, government, legal structures and politics on business and are well positioned to make use of opportunities that international markets present.
The Global MBA Experience
So, what should a prospective MBA student look for when evaluating a program’s global emphasis? Important factors include diversity of students and faculty, international orientation of curriculum and course material, employment and recruitment opportunities for graduates, reach of the alumni network, location of the school and partner programs.
MBA programs with an explicit global emphasis tend to offer a high level of international exposure for students and faculty. This might mean that group projects and discussions aren’t based on a single viewpoint, but rather reference a variety of regions and countries. Such programs might also include opportunities for additional learning in another country through exchange programs and draw recruiters from a geographically diverse set of post-MBA employers.
There’s solid evidence that a global MBA experience benefits both students and companies. McKinsey & Co. analysis shows that companies with a more diverse workforce perform better financially than respective national industry medians. Meanwhile, Harvard Business Review recently noted that, “by correlating diversity in leadership with market outcomes as reported by respondents, we learned that companies with 2-D diversity out-innovate and out-perform others.”
Global Business Experiences at London Business School
Gareth Howells, the executive director of MBA & MIF Education, commented on the extent of LBS’s global focus: “At London Business School, being global is in our DNA and informs everything we do. By further expanding our reach through the expansion of our global menu, we believe we can ensure our graduates create value and impact all over the world. Global talent is an integral part of today’s workplace with everyone seeking to create success in a multicultural environment.”
In addition to featuring a highly diverse student body—the London Business School 2018 MBA class comprises 70 nationalities—the school is preparing to add a global project opportunity to its MBA program in the form of structured Global Business Experiences (GBEs). Each GBE is a week long program that consists of faculty briefings, guest speakers, site visits, workshops, panels, company visits and opportunities to engage with local LBS alumni in each region.
The GBE program gives students the opportunity to apply their academic learning in a real-life, global business environment, and provides students with skills to enhance their global mind-set. The goal of the program is to help MBAs flourish outside of their comfort zones and to gain familiarity and experience working with classmates and within organizations from different cultures and industries around the world. The Global Business Experiences at LBS come in a range of shapes and sizes. Each experience is tailored to the location and the organization hosting the experience.
LBS has made it a priority to consistently evaluate and expanding its global offerings. Starting this August, MBAs at the London Business School can
- Experience two new regions for the GBEs including Lima and Tel Aviv;
- Have additional language opportunities: Italian and Japanese have been added to LBS’ existing provision of French, Mandarin, German, Russian, Portuguese, Arabic and Spanish, and
- Increase their knowledge with the Global Business Practice course supporting students with cultural awareness.
GBE Student Experience
Jenny Troung, a 2013 LBS MBA graduate, discussed her reasoning for choosing to pursue an international experience in South Africa: “What appealed to me was the fact that the GBE had a component where I was working with an entrepreneur. This meant that what I was doing in those five days was related to what I had been learning in the previous year. We helped the entrepreneur with his accounting to figure out if it is more profitable to sell a chair compared to an ottoman. And that was real business insight that I had to apply from school.”
Students also report that they find personal reward and meaning in international experiences during their MBA studies. Marie Milleron, a 2015 MBA graduate, described her GBE in Johannesburg as “life changing.” “Whether it was helping our township entrepreneur with the little resources she had or understanding the challenges of a developing economy with a heavy past, it was a unique time of personal growth and reflection.”
To learn more about the GBE program at London Business School, visit the school website.
This post has been republished from its original source, metromba.com.
