Monash South Africa MBA produces innovative executives
In a world where uncertainty is a daily fact of life, organisations — both those with a focus on profit and those serving citizens — grapple with adapting to change. Various strategies and approaches are used to try to respond to these changes or predict and better plan for them.
Shifting economic climates, new legislation, operating requirements, advances in technology and the changing needs of consumers all place organisations under pressure. When organisations are under pressure, they look to their staff to come up with innovative and lasting solutions to ensure their survival.
Today — more than ever before — managers and executives are under immense pressure to perform. It’s no longer about who puts in the most effort and spends the most time at the office, but who can, in the shortest time, come up with solutions that really impact the organisation long-term.
To this end, managers and executives are looking to improve their skills. What better way to do it than doing an MBA? But it is not as simple a solution as one may think. There are various aspects to consider, especially considering the vast number of options available, both locally and abroad. In the South African business school landscape, there are a variety of offerings from excellent and reputable business schools and universities that compare very well with international offerings.
However, according to Millard Arnold, executive director of The South African Business Schools Association in South Africa, we have just 18 business schools offering MBAs to a population of 55 million. In the UK, with a 10% larger population, there are 121 business schools. Similarly, Australia, with less than half the South African population, has more than double our business schools.
It is interesting to note that the need for MBAs seems to be on the decline abroad; the Wall Street Journal recently published an article noting that the MBA has gone from a “must have” qualification to a “nice to have”. However, in Africa there is still a dire need for training managers. Arnold quotes a study that found that Africa requires a minimum of a million new managers for sustainable growth.
In light of these perspectives, as well as the time and cost investment required by prospective MBA graduates, Monash South Africa successfully launched its MBA degree in July 2016 and has doubled enrolments since the end of 2016. A possible reason for this is that many professionals find it difficult to balance work and family, but they are very motivated to advance their careers. The Monash South Africa MBA addresses this issue directly by offering maximum study flexibility.
Professionals can study on their own terms by enrolling in the MBA anytime during the year, because subjects are offered in five-week blocks, one subject at a time. If a student finishes a subject and then anticipates a time-sensitive project at work or a major family event, they can simply skip the next fiveweek block and resume as needed. The degree can therefore be completed in 18, 24, or 36 months.
Besides offering students a high level of theoretical engagement, intellectual independence and the ability to solve complex business problems, the Monash South Africa MBA is underpinned by the “use it now” concept, where students are taught how to apply all they learnt immediately in their jobs.
Innovation is key to our MBA, and it is one reason why, instead of a standard dissertation at the end of programme, we ask for an innovation project that incorporates both business theory and the application of practical creative intelligence that is taught throughout the course, helping students to discover their own creative potential and apply it in real-world situations.
The Monash South Africa MBA is designed to produce graduates who can make sound business judgments in local and global teams and demonstrate both intellectual confidence and originality — exactly what is needed by organisations today. The course uses a blended learning approach that includes online self-study, group work and online lecturer engagement, in addition to e-mail support, and face-to-face contact sessions with peers and lecturers on selected Saturdays. The result is less frequent but more focused trips to the Monash South Africa campus in Ruimsig, Roodepoort.