MASTERS OF NONE
IT OFFERS THE MOST EXPENSIVE EDUCATION IN THE COUNTRY—BUT IS THE MBA LITTLE MORE THAN A STATUS SYMBOL?
What happens to a company equipped with 34 current or aspiring CEOS, instead of just one? The Haidian District People’s Court of Beijing has the answer—it goes bankrupt.
According to the court’s Weibo, the distressed company was established in December 2014 by students of a Tsinghua University CEO program, following a crowdfunding round on the group’s 120-member Wechat group that raised 6.8 million RMB from 34 investors to run a restaurant by the east gate of Tsinghua University. Today, that eatery boasts assets totaling nearly 5,000 RMB, and a debt of over 3 million RMB.
While details of the relationship between the budding CEOS and Tsinghua’s business program remain sketchy, the post garnered 20 million views and 670,000 comments, most wondering why a company run by supposed elites trained by the top academy in the country would flop so spectacularly.
It may be a reflection of the education on offer: The “CEO program,” or Executive Master of Business Administration (EMBA), is a part of a large and profitable education sector in which students enroll hoping to become China’s next Jack Ma. When the degree was introduced in 1991, nine universities were authorized to offer EMBAS by the Ministry of Education, but the number had risen to