Benefits of Executive Education
Industry | Benefits of Executive Education | History of Executive Education
There are many reasons for the schools to setup Executive Education offices to offer programs for corporations and governments alike. There are also many benefits for companies in participating in top executive education programs. Below are just a few as gathered from participants of both sides:
Value for Schools
Real world business perspective
School insiders get a taste of the “real world” and experience business issues first hand. Often times, survey results from even the top executive education programs receive their least high score (although still high) in “ability to relate learning material to real world situations”.
High level management and alumni relationship building
More often than not, business leaders return to the school they attended for a Masters or MBA program. There is also a strong alumni network being built through executive education centers. Students from undergraduate programs from the school tend to go back once they reach senior management positions and have influence to do so.
For example, many of Harvard and Stanford’s undergraduate alumni and MBA alums return with whole company divisions to their school’s executive education programs for training.
Increases alumni hiring and undergraduate hires
The senior executives that attend these executive education sessions at the top schools possess a strong influence in their companies. As such, many of these relationships are established that helps the school’s career development centers and students get hired come graduation time.
Re-occurring business and revenue source
While endowments for the top business schools are often quite large, often times, the executive education center is the most profitable and “business-like” operation within the school. (This is a quote from direct insiders). This is a sweet and much appreciated boost and system change from alumni endowments.
Many of the executive education staff members receive high praise and career advancement opportunities in managing to positive flow of revenue from their executive education centers.
Increases regional and international profile of the academic institution
Schools that host government or international entities continue to increase their exposure domestically and internationally for their thought leadership. This also has a direct PR effect on the regional and international coverage of the business institution, and both their undergraduate and graduate programs benefit from this in the long run.
Value for Client Organization
Top level professors with scientific and new techniques
Only the best professors are requested to teach executive education students. As such, many highly sought after business professors are often holding and conducting the classes within the executive education program. Many of these professors were once executive themselves.
For example, at Babson College, most of the business professors have at one point been in an executive position or managed their own business. These professors can offer great insights into the issues the companies are facing in the real world by bridging academic expertise and the experience of coaching, from failure to success, the many different kinds of leaders and organizations.
Immersion in tranquil school environment
One of the major decision factors when an executive decides to send a whole team to training involves taking a look at the executive education campuses and residents. The schools are aware of this, and visitors will often see these areas as more like a hotel resort.
In many schools the executive education center is a secluded area where executives can take time out, get to know their peers better and immerse themselves in new thinking to bring back to the organizations. The food is also excellent and super delicious.
Time at these centers build friendship and trust among management leaders
There are always those people who believe that business is never personal. In reality, senior leaders build strong bonds in attending these programs together. They are also to learn about the problems other divisions of their company are facing and bring these into constructive discussion without the cloud of politics that often surround an office setting.
Executive credentials and credibility in company’s management
Executives are able to add their experience to their resumes and associations with leading business institutions around the world.
Opportunity to meet other executives from other companies
There are often more than one program going on at a time at a specific location. There are many chances to network with other executives in dining and recreational areas on campus.
Chance for self-reflection and 3rd party perspective
In class discussions often involve otherwise taboo company “holy cows” as well as management self reflection. This is usually guided by the professors because they are able to ask the tough questions without any political clout (their power is not tied to their status within that company). This is very subtle but very powerful when the acclaimed professor is not part of the company and not tied to any monetary or political incentives.
No admissions process / Saves time
Executives can skip the long admissions process for an MBA program and learn directly from the top business professors as well as gather top business school credentials in a relatively short amount of time. (Usually within 2-4 weeks)
Time and Focus Multiplier
A highly compact program builds into it a structured and dense curriculum, often bypassing the long time it takes for normal programs. Students can learn a lot in a very short amount of time. Customized programs offer specific courses for company, industry specific issues while Open programs offer well structured subjects in management around the year that companies can enroll in at any time.
