Executives focus on survival techniques during meltdown

Kathleen Slaughter says we are living in a time of unprecedented change

Kathleen Slaughter, dean of Richard Ivey's Hong Kong campus, said business schools were dealing with more complex organizations that before and executives should focus in how to attract and retain talent and build for the future.

What has changed over the years when it comes to education for executives?
Executive education changes at the same time pace as business. We are in a time of unprecedented change but we need to add to that complexity, globalization and economic turmoil. While we still focus on general management, general management has changed.

We deal with much more complex organizations than in the past with a new age of workers who have different needs, skills and goals. We design programmes to meet these changing needs.

What do executives want to learn from going to a business school?
I guess the simple answer is to learn what they don't know; however, it has become increasingly difficult to determine what we don't know.


Rapid change and the acceleration of the so-called “information highway” mean that we need to know the latest trends, concepts and ideas. They know that there is a need for change and they want to drive that change through their organizations. They want to learn more about managing performance, developing and executing strategy and encouraging innovation.

What are the most pressing issues that executives want to learn right now?
With the recent financial meltdown, many executives are focusing on survival techniques; however, those in leadership positions are building for the future.

Some of the greatest businesses in the world have been started during some of the most significant financial downturns — world-class companies such as IBM and Proctor & Gamble. Leaders build for the future and executives in leadership roles want to prepare for that future by learning how to attract and retain top talent.

The executives who emerge as the leaders are those who are building their organizations for the future. They are crystallizing their vision and eliminating low value-added activities. They are honing their workforce so that they are ready to accelerate quickly when the economy turns around. They will be ready to act quickly with agile organizations that have had time to analyze best practice and champion change.

What do executives expect from attending courses at business schools?
The expectations from a programme vary widely. Those attending an Executive MBA programme, are preparing themselves for the future. They are ensuring that their skills are up to date and that their credentials are world class. They are also building a network of energetic and enthusiastic leaders, many whom will be lifelong friends and business associates. Those attending executive development programmes that are short are focused on the leadership skills necessary to enhance their careers and improve the organizations.

Which industries do the students come from? Have you noticed any changes in students over the years?
Students come from health care, engineering, retail, consulting, transport, finance, logistics, hospitality, technology, manufacturing and almost any other industry you could name.

Within our EMBA programme, we focus on the diversity of the class. We have virtually every major industry/group in Asia represented in the class and with more than 14 nationalities in each class, you have tremendous diversity — by age, industry and nationality. With such substantial industry representation, you have the opportunity to learn from everyone and transfer learning from industry to industry.

If you do lose your job, can you use your extra time to accelerate completion of a formal qualification with a business school?
If someone loses his or her job, the individual can certainly accelerate an MBA by applying to do a full-time programme. However, the decision to accelerate the process of an MBA really depends upon whether or not such an acceleration makes sense.

If the individual has less than seven or eight years of work experience, he or she may benefit by returning to school full-time in a one-year, high quality programme.

During the economic downturn, individuals not only improve their skill sets but they also gain the assistance of the school's career services department. The opportunity cost of being out of the workforce for only one year is considerably less than being in an MBA programme for two years.

If, however, the individual has more than seven of eight years of work experience, he or she would be better equipped by pursuing an Executive MBA programme with the exposure to senior executives and entrepreneurs who have the energy, vitality and enthusiasm to reignite the passion that many find fading as their careers progress.

There is nothing like being with a group of energized individuals who are older than 40 to open your eyes to possibilities and redirect your energies to your goals. It is an invigorating experience with long-term gains in good and bad times.

SCMP
18th February, 2009

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