|
Harvard Business School is
indisputably the nation's most famous business school, and it is
also one of the most selective. In 1994-95, a class of 900 students
was admitted from among over 6,900 applicants. With these numbers
and a worldwide reputation as the business school, HBS appears to be
the envy of almost everybody in graduate business education.
Unsurprisingly, the prevalent felling here is summed up by one
student's remarks: "If you're going to do an MBA, don't mess around.
Come to the best b-school in the world." Those who are fortunate
enough to be accepted usually do. More than 80 percent of last
year's "admits" chose to enroll. Indeed, the school's "yield"
(percentage of admitted candidates who choose to enroll) is the
highest of any b-school in the United States. How did Harvard come
to occupy such an august position? First, as one of the oldest
b-schools in the nation (founded in 1908), it got a head start on
all the other programs. Second, as the biggest b-school- graduating
roughly 800 MBAs per year - it's built a network of more than 60,000
alumni worldwide. And these are uncommonly loyal and generous
alumni. Since 1980, the school's endowment has grown from $100
million to approximately $545 million in 1995. HBS also boasts more
CEO alums than any other grogram, a nationally renowned faculty, and
authorship of 90 percent of the case materials used worldwide.
HBS is known from coast to coast for its comprehensive coverage
of the functional areas of business and how well it integrates them.
General management is considered the cornerstone of the program, but
all of the departments are strong. In recent years, however
Harvard's programs have come under heavy criticism. The complaints:
HBS has not been responsive to changes in the marketplace. Its right
program has featured little of the international perspectives,
teamwork, student consulting, or innovative learning experiences now
characteristic of b-school education in the United States.
Surprisingly, the venerable HBS has done what was considered
unthinkable before and decided it's time for change. Recently, HBS
has undertaken a stem-to-term program overhaul called the Leadership
Learning Initiative. It offers year-round classes (students can now
enroll in September or January), sections of eighty instead of
ninety, and greater emphasis on skill building and field-based
learning delivered in a much more cross-functional context. The
school also has been completely transformed by technology: relying
heavily on the Internet and Harvard's own Intranet for everything
from course materials to lecture examples.
|
Undergraduate