FOR IMMEDIATE RELEASE - May 15, 2000
CONTACT:Dennis O'Connor, Peter Arnold Associates, 781/239-1030, [email protected]
BOSTON UNIVERSITY SCHOOL OF MANAGEMENT ANNOUNCES CREATION OF MS.MBA
First of Its Kind Degree Will Offer Future CEOs Opportunity To Earn Two Concurrent Masters Degrees
(Boston, MA) -- The School of Management at Boston University announced a unique program offering concurrent Masters degrees in business and information systems to prepare future CEOs for the new economy. This new concept in business education, named the MS.MBA ("MS dot MBA"), enables ambitious MBA students from around the world to earn both a traditional Master in Business Administration with a concentration in one of the various business disciplines, as well as a Master of Science in Information Systems. The two degrees can be earned in the same 21-month time-period required to earn a full-time MBA.
"This innovative MS.MBA is targeted at aspiring CEOs and entrepreneurs who want not only a world class MBA degree but also the substantive educational and career advantage of a Masters Degree in information systems," said Louis E. Lataif, Dean, Boston University School of Management. "Graduates of the MS.MBA will be distinguished from the thousands of MBA graduates each year who might have been exposed to some information technology, but who do not have the same depth of expertise associated with a master's degree in the subject."
Business Leaders React
Several executives at the highest levels of business have commented on early news about Boston University's MS.MBA. Following is a sample of initial reactions:
Jack Smith, Chairman and CEO of General Motors (NYSE: GM), stated "Boston University's new MS.MBA is a unique and innovative way to address the needs of students as well as employers in the information age. By allowing students to earn two concurrent degrees, one in Management Information Systems and the other an MBA, Boston University has created a win-win for all parties."
Ed Zander, Chief Operating Officer, Sun Microsystems (NASD: SUNW), said, "I think the MS.MBA is a terrific idea, something Sun would find very valuable. More importantly, it's exactly what the business community needs. I'm certain most employers would pay a premium for those qualifications and credentials. It's a very responsive innovation."
Victor Menezes, Chairman and CEO of Citibank (NYSE: C) has offered this evaluation of Boston University's MB.MBA, "I think it is a great combination and very relevant to management issues today. I wish I was going back to school!"
According to Allen Questrom, CEO of Barneys New York and former CEO of Federated Department Stores, "This is a great idea--exactly what business needs and is looking for. Technology issues have become inseparable from all the operating issues in running a business. The MS.MBA preparation is ideal."
"The opportunity to combine the best of a traditional MBA program with an in-depth exposure to information technology will make for truly value-added candidates for businesses around the world," added Jack Nasser, President and CEO of Ford Motor Company (NYSE: F). "I applaud Boston University's efforts to differentiate themselves with this new MS.MBA program."
The leader of The Boston Consulting Group's E-Commerce Practice, Hal Sirkin, said, "Far too often, there's a huge gap between the development of strategy and the understanding of the information technologies needed to implement that strategy. Graduates of this program will be much-needed recruits for organizations tackling the strategic and implementation issues of e-commerce."
The creation of the MS.MBA follows on the School of Management's recent establishment of another e-business initiative, the Michael Bronner e-Business Center and Hatchery. Unveiled in February, this new concept first established a Center in which students can develop new business ideas under the supervision of faculty as part of their educational experience. Secondly, the initiative created a separate Hatchery that allies students with the hands-on leadership of successful business executives and venture capitalists to help launch and nurture e-business ideas with financial assistance and managerial experience.
Boston University's announcement of its new MS.MBA degree comes amid mounting efforts by business schools around the world to address the impact of technology on new business models (the "dot-com" mania) and on every existing business and organization. According to The International Association for Management Education, more than 60 of the nation's MBA programs are offering e-commerce degrees and/or certificates or other technology-related courses.
Dean Lataif was quick to point out that the School of Management's new MS.MBA goes much farther than including "e" materials in the curriculum. "The MS.MBA will be new executive preparation for the new world of business," Lataif noted. "Coupled with our traditional MBA education emphasizing academic rigor, a profound understanding of management systems, and sound teaming skills, these MS.MBA graduates will be uniquely prepared to play major leadership roles in the evolving digital economy."
Built Upon Earlier Dual Degree
The MS.MBA program is, in part, a unique reconfiguring of the MS in MIS/ MBA dual degree program that has been offered by Boston University since 1989. Ranked by Computerworld and U.S. News & World Report as among the nation's finest, this program has enrolled approximately 50 students every year. It has, however, focused on the information technology aspects of management preparation for aspiring CIOs and CTOs.
The new MS.MBA program, in contrast, seeks to educate future CEOs, who will need to understand all aspects of information technology, while still being able to concentrate in finance, marketing, or other business disciplines associated with operating management.
Highlighting the significance of the MS.MBA concept, Dean Lataif also pointed out that the exclusivity of the MBA has been diluted over the years: "In l960, the 4600 MBA degrees awarded represented less than 10% of the number of bachelor degrees earned in the U.S.," Lataif noted. "This month, we estimate that 105,000 MBA degrees will be granted - a 23 fold increase in four decades - representing over 40% of the number of bachelor degrees awarded."
Details of The New Concept
The MS.MBA program will begin in Fall 2001 and will be completed in 21 months covering five consecutive semesters. Tuition for the program will exceed that of a normal two-year full-time MBA by the cost of one additional semester. Approximately 100 students are expected to enroll at the beginning of each academic year. Components of the program are expected to include:
* The full MBA program, including four "concentration electives" in disciplines such as marketing, finance, entrepreneurship, or international management.
* A minimum of 80 academic credits in total for both degrees and a two-semester practicum focusing on major IS projects in host organizations to be completed in the same 21-month time period required for a full-time MBA.
* In-depth exposure to information technology through courses such as the changing nature of telecommunications, network architecture and protocol, database structures, e-commerce developments, the evolving worldwide Internet, managing customer and partner relationships, object-oriented programming, and current and projected hardware and software developments.
* Opportunities for an MBA internship experience for up to 12 weeks during the summer following the first academic year.
* To earn the minimum of 80 credits, MS.MBA students will be required to take intensive courses offered in the summer semester prior to the start of their summer internship and through on-line courses during that semester.
The School of Management will continue to offer each of its other graduate degree programs, including the classic MBA, the MBA in Health Care, the MBA in Public and Nonprofit Management, the Executive MBA, the Master of Science in Investment Management, and the stand-alone Master of Science in Management Information Systems. Each of these rigorous programs will also incorporate increased elements of contemporary information technology.
Founded as the College of Business Administration in 1913, the Boston University School of Management educates future global business leaders with special emphasis on the difficult-to-manage interdependencies within organizations. The School offers an undergraduate degree in business administration; full-time and part-time MBA programs; specialized MBA programs in Health Care Management, Public and Nonprofit Management; eight dual-degree MBA programs; an Executive MBA program; Master of Sciences programs in Information Systems and Investment Management; a Doctoral program; and executive education programs.
The School of Management at Boston University is located at 595 Commonwealth Avenue, Boston, Massachusetts 02215 or visit http://management.bu.edu. Specific admissions and MS.MBA program information can be obtained by contacting Peter Kelly email: [email protected] or Janelle Heineke email: [email protected].
NOTE: Photographs and list of executive quotes are available upon request.
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