An informal reception Feb. 6 kicked off the College of Business’ renewed effort to create an even stronger connection between its MBA students, faculty and alumni.

For some alumni, the event marked their first visit to Austin Hall, and the evening started with a building tour from Director of Operations Malcolm Lemay. Lemay explained the aspirational design of the building, in which undergraduate classrooms and meeting spaces are on the first two floors, master’s programs are on the third floor and the Ph.D. program is on the fourth floor, with the top two floors also hosting faculty offices.

Alumni were particularly impressed with Abacus, the suspended sculpture that highlights key dates in the history of the College of Business.

A reception in the MBA atrium followed the tour and about 45 students, MBA faculty and alumni were in attendance, including Steve Gomo, an Oregon State alumnus and former CFO of NetApp. Gomo addressed topics including maximizing the college experience, goals for the first 90 days at a new company, how to find opportunities to live and work abroad and key trends in the technology industry.

MBA students enjoyed the opportunity to network with alumni in various fields, including representatives from Hewlett-Packard, Lucidyne, Oregon State University and Oregon Freeze Dry. In addition, several entrepreneurs shared their experiences with students.

Class of 2013 alumnus Adam Welch traveled from his home state of Utah to visit with his classmates and other members of the Oregon State MBA family. Faculty including Tom Dowling, Byron Marshall and David Baldridge also took advantage of a great opportunity to reconnect with students from previous years. Alumni from as far back as 1997 and as recent as last summer participated.

“One of the most important components of an MBA is the alumni network,” MBA Program Director Brian Precious said. “A strong alumni network facilitates recruiting top students, mentoring current students and placing our graduates at the world’s best companies. It also creates a sense of belonging for all who share the bond of being a part of the Oregon State MBA family. The event last week is the first in a renewed effort to create even stronger connections between Oregon State MBA students, faculty and alumni.”

Thirty years ago, if you wanted to earn your MBA, your options were limited. Typically, MBA applicants in the ’80s had a business undergraduate degree and several years of work experience. There were a few hundred MBA programs to choose from, all of which required students to take two years off from work and enroll in a full-time program.

Today, the one-size-fits-all approach to MBA education has gone the way of acid-washed jeans, big hair and the moonwalk. At last count, there are more than 15,000 business schools across the globe. New MBA programs now attract students from different academic and professional backgrounds, career stages and learning preferences.

Many students I work with are confused by all of the new terminology associated with MBA programs. Below is a quick rundown of the major MBA formats and their pros and cons, as well as thoughts on which types of students are the best fit for each format.

Full-Time MBA 

Description: MBA program in which students attend class full time, during the day. Students typically take 4-5 classes per semester/term and complete the degree in 18-21 months. 

Also Known As: 2-year MBA, 18- to 21-month MBA, On-campus MBA

Advantages:

• More time to study/absorb class material
• Additional time for extracurricular activities (ex: study abroad) and job search
• Format promotes the completion of an internship between the first and second years in the program
• Greatest opportunities for networking with classmates, faculty and alumni
• Students can take full advantage of career services/placement office
• Greatest scholarship opportunities

Disadvantages:

• More time out of the workforce
• Some coursework may be redundant for those with a business undergraduate degree
• Students must pay living expenses in addition to tuition

Best For: Younger professionals with less work experience seeking full-time employment in a new field/industry and looking for the most immersive MBA experience possible.

 

Part-Time MBA 

Description: MBA program in which students attend class during the evenings and/or on weekends. 

Also Known As: Evening MBA, Weekend MBA, MBA for Working Professionals

Advantages:

• Students can work full time while earning their MBA
• Many companies offer tuition assistance to offset the cost of the degree
• Typically, same professors and curriculum as the full-time program
• Students can immediately apply knowledge learned in the MBA program directly to their job
• Opportunities to network with classmates and faculty

Disadvantages:

• Some programs may be inflexible to family or work commitments during class time
• May be difficult for part-time students to interact with full-time students and career services/placement staff
• Longer time to completion (typically 2-3 years) than a full-time or accelerated program

Best For: Early- to mid-career professionals seeking a rigorous MBA experience while working full-time.

 

Executive MBA

Description: MBA program designed for mid-senior career professionals seeking top management or executive leadership roles.

Also Known As: MBA for Executives

Advantages:

• Excellent professional networking opportunities
• Typically, high levels of service (meals, lodging, books, etc.) provided to participants
• Some programs include perks like executive coaching and/or an international trip
• Typically taught by senior/tenured faculty

Disadvantages:

• Usually among the more expensive options
• Extensive work experience (5+ years) typically required for admission
• Some programs may be inflexible to family or work commitments during class time

Best For: Experienced professionals looking for a high-touch MBA experience with ample opportunities for professional networking.

 

Online MBA 

Description: MBA program in which all learning and coursework is completed online. 

Also Known As: Distance MBA

Advantages:

• Students have flexibility to study at a time/place most convenient to them
• No travel time/expense to get to class
• Students do not have to work/live near the university where they are studying online
• Can be less expensive than other MBA formats
• Entry requirements can be less stringent than other MBA formats
• Work experience typically not required

Disadvantages:

• Not all online MBA programs offer the same degree of academic rigor compared to competing full- and part-time programs
• Not all employers value online MBA degrees as much as full- or part-time programs
• Minimal in-person interaction with faculty and classmates
• Qualifications for teaching in some online programs can be less rigorous than for other formats.

Best For: Professionals looking for the MBA option with the most flexibility. Students should be very comfortable with self-paced learning and possess excellent time-management skills. 

 

Online/Hybrid MBA 

Description: MBA program in which the majority of coursework is completed online, with a few in-class sessions per course. 

Also Known As: Hybrid MBA, Blended MBA

Advantages:

• Format is flexible yet allows for face-to-face interactions with faculty and classmates
• Typically taught by senior/tenured faculty

Disadvantages:

• Students have to work/live close enough to attend mandatory in-person class sessions

Best For: Professionals looking for the flexibility of an online program coupled with networking opportunities and face-to-face interactions with faculty and classmates.

 

Accelerated MBA 

Description: MBA program for those with an extensive business background.  Curriculum typically assumes student has taken business coursework and/or has hands-on experience. Can be full-time or part-time. 

Also Known As: 1-year MBA, MBA for Business Professionals

Advantages:

• Less time/cost to complete degree than full-time or part-time options
• Coursework and projects tend to focus on more advanced aspects of business
• Graduates typically receive the same degree as those in the full-time MBA program

Disadvantages:

• Compressed format may not work well for those without extensive business knowledge and/or demanding work schedules
• More difficult entry requirements than other formats
• Many programs require “pre-work” (ex: completion of an online math course) prior to the start of coursework
• Format may not allow student to complete an internship

Best For: Professionals with extensive business experience seeking a fast-paced, academically rigorous program. 

Please feel free to leave a comment or contact me with any questions. I’m here to help!

Brian Precious is the MBA Program Director at Oregon State University. He can be reached at: OSUMBA@oregonstate.edu.

If you had to describe your entire skill set in one letter, what would it be?

According to Jim Spoher and other researchers in the field, your answer should be T. T-shaped professionals combine deep knowledge in a primary field with a broad range of skills that complement their main area of expertise.

For example, someone with a degree in engineering or computer science may have a very successful early career focusing on his or her technical skill sets alone. However, to transition into a management or leadership role, a solid understanding of project management, budgeting, marketing, finance, new product development and human resources is probably necessary. These skills provide the tools to drive innovation and bring new products and services to market on time and on budget. The combination of a strong technical background and a broad understanding of complementary business concepts allows capable young professionals to take on new responsibilities and add value to existing or emerging organizations.

If your skills are deep but not broad, earning an MBA can help. An MBA is designed to provide a holistic view of business. Students take courses in many subjects, including accounting, marketing, finance, operations, human resources and project management, as well as leadership and ethics. In addition, most MBA programs place a great emphasis on teamwork, leadership and managerial skills. At Oregon State for example, students in the commercialization track of our MBA program work with entrepreneurs and scientists to transform early-stage inventions into viable businesses. Students work with inventors to develop a market-ready business plan covering all aspects of the new venture, including product positioning, an understanding of the competitive landscape, marketing strategies, funding needs and the milestones that indicate progress toward the creation of a successful startup. Students in commercialization develop a broad set of skills equally applicable in a startup or a Fortune 100 company.

If you would like to learn more about earning your MBA, let me know. You may find the degree fits your career aspirations to a T.

Brian Precious is the MBA Program Director at Oregon State University. He can be reached at osumba@oregonstate.edu.

For Oregon State MBA student Yuan-Feng (Betty) Chao, launching a career in the United States after graduation is a lofty, yet worthwhile goal. A native of Taiwan, Betty loves travel, enjoys meeting new people and exploring different cultures. Betty has enjoyed her time at Oregon State and plans to continue her journey in the US after graduation. Her goal is to work in Management Consulting; an industry where she can leverage her sales and customer service background to the benefit of her clients.

Betty acknowledges the cultural, language and communication hurdles faced by international students looking to work in the US.  However, she’s taken an innovative and disciplined approach to her career strategy. As graduation approaches, her hard work is starting to pay off.  Below are some of her top tips for international job-seekers:

1. Start your career search early

Though the academic demands placed on MBA students often cause them to postpone their job search until just before graduation, Betty took a different approach. She realized the importance of starting her career search early, and has dedicated several hours each week to this vital task. She used this time to identify companies and industries in which she would like to work, attended company information sessions (even if they were looking for different majors or stated they are only hiring domestic students), and built her professional network (see below).

2. Network, network, network

Networking has been a huge part of Betty’s success. As a non-native English speaker, it wasn’t always easy for her to approach alumni, recruiters and fellow students. However, the more she did it, the easier it became to strike up a conversation. Some of Betty’s best leads are from the Business Roundtable, a luncheon and speaker series hosted by the College of Business and the OSU Alumni Association. Attending Business Roundtable provided Betty the opportunity to interact with executives from Nike, Boeing, Intel, Adidas, Daimler and other leading and emerging organizations.

3. Take advantage of available resources

In addition to networking events like Business Roundtable, Betty utilized the Career Success Center to facilitate her job search. In addition to connecting talented Oregon State students with career opportunities, the Career Success Center also offers resume reviews, mock interviews and professional development workshops on topics including resume development, networking, professional communication and job search strategies. Betty has taken advantage of all of these resources and keeps in frequent contact with her career advisor, Brandi Fuhrman.

With Betty’s dedication and strategic approach to the job search and her MBA degree, she has the skills and a growing network that will facilitate her goal of working in the US after she graduates with an Oregon State MBA.

If you have picked up a newspaper, logged onto Twitter or watched the news in the last week, chances are you have heard the term “big data” at least once. While this buzzword has tremendous implications for organizations spanning the globe, it also represents a great opportunity for those looking for an exciting career path. So, why is big data such a big deal?

A Universal Need 

The ability to harness insights from large data sets is needed across industries, functions and geographies. From the smallest nonprofit to Fortune 100 companies and governmental agencies, a better understanding of the customer through business analytics drives profitability, innovation and customer service. Synthesizing big data helps nonprofits communicate impact to stakeholders, retail organizations identify their most profitable customers and products, and governments understand the impact of policies at the macro and micro levels.

According to a recent VentureBeat article, organizations in many industries are leveraging big data in innovative ways, including: predicting customer needs, getting customers excited about their own data, improving customer service, identifying customer pain points, and reducing health care costs And big data is merely in its infancy. The global research organization Markets and Markets believes the rapidly expanding big data market will be worth $46 billion by 2018.

Shortage of Talent 

Despite the huge demand for them, there’s a dearth of data-savvy managers and executives. According to a recent McKinsey Global Institute report, the U.S. alone faces a shortage of 140,000 to 190,000 individuals with deep business-analytics skills and an additional shortfall of 1.5 million managers with the knowledge and training to lead data-aware organizations.

The College of Business at Oregon State is committed to equipping a new generation of managers with the combination of general business acumen and data analysis skills required to lead in this new frontier. The recently launched MBA in Business Analytics is an intensive program taught by top faculty with a combination of academic and professional expertise in the field of data analysis. The program can be completed by full-time students with a business background in as little as nine months. Students do coursework in data analysis, exploration, mining, visualization and advanced information systems, in addition to taking a core sequence of business courses.

Drop me a line to talk more about careers in this growing field.

Brian Precious is the MBA Program Director at Oregon State University. He can be reached at: OSUMBA@OregonState.edu.

 

Opinions on the benefits of an MBA education are kind of like those on coffee, alcohol and kale – they cover the full spectrum and are often packed with a combination of data and conjecture.

Some feel the opportunity cost of earning an MBA is too great to justify the time and expense. They feel taking online courses, enrolling in corporate training programs or placing additional time and effort in to their current role will accelerate their career trajectory more rapidly than going back to school.

Others talk about MBA education in quantitative terms: ranking, return on investment and average starting salary. The sentiment seems to be that attending a “top-ranked” school (although few who opine on this topic will tell you which rankings to believe, or why the major rankings are often inconsistent) is the only way to benefit from an MBA.

Both schools of thought miss the mark. An MBA can be so much more than a series of classes or a ticket to a higher-paying job. Earning an MBA can be a truly transformative experience, opening doors to new people, opportunities, experiences and careers.

Ten years ago, I returned to my alma mater, the University of Illinois, to earn my MBA. My thinking at the time was the degree would lead to a higher-paying job in a new field. In orientation the first day, our dean told us we only have 621 days together and we should use the time to not only learn new skills but to also learn about ourselves and each other.

In the ensuing days I had the opportunity to travel to China, Australia and New Zealand, start a company, work at a startup, and lead a major philanthropic effort. I also made friendships which span the globe and withstand the test of time.

The MBA experience gave me the perspective, confidence and opportunities needed to chart a new course for my career and my life. Now I have the opportunity to pay it forward. In my role as MBA Program Director at Oregon State, I enjoy working with prospective and current students to realize the true power of an MBA education.

Brian Precious is the MBA Program Director at Oregon State University. He can be reached at osumba@oregonstate.edu. 

December can be exciting, with holidays and celebrations filling many hours throughout the month. It’s a time to spend with family and friends, and to give thanks to those most important in our lives. It is also a great time to reflect and ask important questions related to your professional goals and aspirations: Is my career on track? Am I enjoying the work I’m doing? Am I still learning? Where will I be in five years? If these questions have you scratching your head, perhaps earning an MBA can help. Below are five great reasons to consider this versatile degree in 2015:

1. Advance Your Career – An MBA can help individual contributors move into leadership and management positions. MBA students typically take courses in project management, organizational development, ethics and negotiations. In addition, most programs allow future leaders to practice these skills through capstone projects, group presentations and other experiential learning opportunities.
2.  Change Careers – An MBA can be a springboard to new career paths. By focusing on a broad range of business disciplines, MBA graduates can leverage these new skills and experiences to transition into a new industry or functional area.
3. Earn More – On average, MBA graduates earn more than their non-MBA counterparts. According to a 2012 analysis by Poets and Quants, graduates of part-time MBA programs reported an average increase of 53% over their pre-MBA salary.
4. Expand Your Network – An MBA provides opportunities to meet new customers, employers and business partners. MBA programs tend to attract students from a wide variety of industries, functions and geographies.
5. Choose From Many Options –  MBA programs are becoming more flexible to meet the needs of both full-time students and working professionals. At Oregon State, full-time students with a business background can earn their degree in as little as nine months, while working professionals can customize their course schedule around their careerand family commitments. We also offer an MBA in Executive Leadership taught via an online/hybrid model, combining online courses, readings and assignments with one or two in-person class sessions each quarter.

Brian Precious is the MBA Program Director at Oregon State University. He can be reached at: OSUMBA@oregonstate.edu.