But as Western management ideas take root in the nation's corner offices, multinationals could find themselves confronting a newly powerful adversary: Chinese companies suddenly in possession of the management know-how needed to go head to head with global giants. Those same ideas -- about efficiency, productivity, profitability, and growth -- hold vast potential to ignite China's already blistering economy, raise living standards, and transform the nation from a low-cost manufacturing center to a make-or-break battleground for the global economy.
At the same time, given the vastness of China's needs, creating the new managerial class is an effort to keep its decades-long economic miracle roaring -- a doubling-down of the bet Deng Xiaoping made in when he set China on the path toward capitalism. Without them, the future is uncertain. Top schools, such as Tsinghua University in Beijing and Fudan University in Shanghai , have joined forces with Western partners to offer state-approved MBA programs that have grown more than tenfold since , when the government began licensing them.
By earning degrees closer to home, they avoid derailing their careers by leaving China -- and all their business contacts -- for two years or more. Lured by the promise of big salary increases and coveted jobs with multinationals, they're applying to B-schools by the tens of thousands. In all, more than 18, students of all nationalities were admitted to about 90 Chinese MBA programs in , including nearly 12, full-time students, a more than seven fold increase in just seven years.
After a recent two-year decline in applications, a favorable demographic shift has B-schools bracing for what could be another sharp rise. To explore what's behind the blossoming interest in management education, BusinessWeek undertook an exclusive survey of nearly 1, MBA students at 13 of China's top programs -- the vanguard of the new China.
While they identified strengths and weaknesses in individual programs, the students were generally satisfied with the education they are receiving. Two-thirds say their MBA experience has surpassed their expectations, and most give their programs high marks for teaching, course content, and career services. Not surprisingly, the survey found that students were overwhelmingly upbeat about China's prospects and their own.
Applicants must demonstrate excellent research and teaching skills. Warren Buffett does not use Excel or a computer. Requirements : This full-time position requires the incumbent to reside in Armenia. During the conference, guest editors for the MIR Special Issue and the MIR editorial board members will provide constructive feedback to abstracts or paper presentations to improve the quality of their abstracts or papers to enlarge the effect of the learning how to improve their research. The class debated the magnitude and implications surrounding this development.
Now in the midst of a prolonged slump in applications at home brought on by a strong job market, skyrocketing tuition, and stagnating post-MBA salaries in the States, many are looking to China for growth. Still, the B-school boom in China is not without problems.
Beyond the top tier, the great majority of the nation's B-schools are of poor quality. Many are taught in Mandarin by poorly trained Chinese faculty. Others are little more than diploma mills. At top campuses, the instructional method of choice is the case study. But a dearth of Chinese cases forces most faculty to use those prepared by Harvard Business School, which students say are of little use to people planning to pursue careers in China.
And recruiters for multinationals say many graduates of even the top programs are ill-prepared, contributing to a marked decline in the value of the degree in the eyes of some recruiters. Meanwhile, PhD programs in management -- which supply the faculty for MBA programs -- are few, a sign that China's grand experiment may not yet be self-sustaining. And success, however graduates define it, is far from certain, owing less to educational pedigree than to good old-fashioned elbow grease.
There's certainly no shortage of drive among China's new managerial ranks. At Qian Xiaojun's class in managerial communication at Tsinghua, wet-behind-the-ears MBA students bombard their classmates with questions about the only thing that matters: landing a job. A Tsinghua graduate, now a research analyst at McKinsey in Shanghai, divulges the interview techniques used by the notoriously secretive consulting firm and is inundated with questions.
Still, there's no denying that the best schools, especially those with Western partners, give students a leg up on the competition. Classes are taught in English by borrowed professors.
And the degree awarded at the end frequently comes from the U. The better programs have also adopted other Western-style practices. Even the physical surroundings are similar to American campuses. At Beijing and Tsinghua universities, century-old buildings mingle with modern technology amid lush greenery. Pei, the award-winning architect who, fittingly, is Chinese-born and Western-educated. Chinese B-schools also walk a fine line between replicating U. Smith School, two Chinese professors are on the faculty, courses on Chinese law and public policy are part of the curriculum, and Chinese case studies are used in class.
At both Fudan and Tsinghua, Chinese faculty spend more than five months at MIT and Harvard developing courses, learning Western teaching methods, and studying case-writing techniques. At the international MBA program at Tsinghua, Chinese business leaders give lectures several times a week.
All the customizing, though, hasn't changed many students' view that their schools fall short of offering a truly Chinese business education. Nearly a third said their schools were merely "good" or "average" at teaching China-specific business -- one of the lowest grades among the half-dozen subject areas rated. For more MBA programs in China, please click here. In China's not-too-distant past, it wasn't unheard of for management classes to include the teachings of Mao Zedong, while the teachings of Milton Friedman and Max Weber were nowhere to be found.
Today there are few outward signs that the educational purpose of the university has been yoked to any political agenda. Most B-school curricula take up socialist economic theory in one form or another. But they also get large helpings of efficient-markets theory, along with occasionally heated debates over the harsher aspects of U. We're talking about capitalism here.
It varies by professor, but I've heard some of my colleagues who sound like Gordon Gekko. For Chinese students, such Western-style programs have enormous appeal.
Earning an MBA from a prestigious Western university without interrupting their careers, and the value of that degree in the Chinese job market, are huge pluses for a new generation of managers seeking to escape the tedium of China's failing state-owned enterprises. These students are angling for exciting futures as entrepreneurs or for jobs with multinationals and fast-growing Chinese companies. A paramount political question is what will be done about provincial wealth disparity: Wealthy provinces like Beijing and Shanghai subsidize poorer ones like Yunnan and Gansu, leading to unequal distribution of tax revenue that engenders long-term resentment and division.
An equally pressing economic question must be: What can China do about its million living in poverty? Meanwhile, a new Bloomberg report out this week suggests China is set for record corporate-bond defaults. That much you can find online or with a few well-placed phone calls.
If you visited Shanghai 10 years ago, you may have trouble recognizing it today. Yet there still is room for more growth, more expansion, more moving into open spaces as the old slowly gives way to the new.
The future calls, particularly the promise of cloud services and the internet of things, where Shanghai is poised to pace China well into the coming years. Despite being the scene where that beginning and the future it promises is taking shape, the CEIBS campus often seems like an island of quiet calm, more than 1, acres of well-manicured lawns and pristine pools surrounding a complex of sleek classroom buildings, residences, gathering places, a library, a gymnasium, and more. As other elite schools will recognize, one feeds the other: This school, just 24 years old, has found its way into the virtuous cycle.
What might transpire — or conspire — to reverse its good fortune? A native of Spain who has spent the last 10? And there is only one in the top So there are a lot of things that are important, yes? I think that our career services are top the world — they are doing a great job, finding good jobs, interesting jobs for our students, and we invest a lot in that. And that is also part of the ranking.
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