Listen and Learn

Hugh O’Neill is Strategic Management Professor at UNC Kenan-Flagler and their Associate Dean of MBA for Executive Weekend and Evening Programs. He is the recipient of the Weekend and OneMBA Teaching Excellence Awards, and his research interests include turnaround strategies, corporate governance, mergers, entrepreneurship in emerging and recovering economies and managerial decision-making. He teaches courses and programs in quality management, corporate transformation and strategic management. He has also delivered executive programs for companies such as Wachovia Corporation, WC Bradley, Quintiles Transnational Corporation, the US Postal Service, US Navy and US Marine Corps.

How can companies benefit from sending employees on executive courses? What skills do MBA-qualified executives bring to the table and how do these skills translate to the workplace?

Companies receive immediate benefit from sending high-potential employees to an executive MBA program. While in school, executive students can blend work assignments with class projects. This allows them to gain immediate, insightful feedback from their executive classmates and professors. They learn best practices from other companies and industries that they can implement at work. While in school, executive students expand their professional network through contact with classmates representing companies that may become future customers or suppliers.

MBA-qualified executives leave with a broad management perspective and an understanding of how companies succeed in a competitive environment. This allows them to make sound decisions that integrate diverse company needs, even with ambiguous or incomplete data. They are better able to communicate their ideas and lead implementation across functional lines. All this makes them a more valuable employee, able to perform at a higher level for the company.

How can executive education programs improve overall future career prospects for the student? Are there any industry sectors in particular where an MBA qualification can prove a major advantage?

In addition to new knowledge and skills, executive MBA graduates demonstrate greater confidence, focus and vision. They excel at higher levels, think more strategically, and seek more challenging opportunities. An MBA education combined with work experience allows executives to provide greater value to their companies and, as a result, their careers accelerate at a faster pace.

While any company would benefit, knowledge-based businesses – such as technology, healthcare, engineering, law – have the most to gain from the broader insight that an executive MBA program provides.

Globalization has brought many advantages to business, but how has it affected the executive education sector?

Of course, globalization requires that executives learn new knowledge in areas such as managing global logistics and economics. But just as important, executive MBA programs must teach executives a new set of interpersonal skills in addition to the analytical, functional and strategic knowledge that companies expect from an MBA.

To help executives appreciate and adapt to different cultural styles, executive MBA programs offer immersion courses in other parts of the world. Also, hiring faculty members and attracting students from other world regions brings new perspectives to the classroom and challenges executives to be more open to business practices from other cultures.

Executive MBA projects are often completed through ‘virtual’ teams. Executives work together remotely using the internet and conference calls, rather than face-to-face meetings. With international team members, executives learn how to deal with cultural differences in work styles and communication, mirroring global teams in the real world.

What would be your top tips for an executive or company considering executive development? How can they ensure they get the most out of the experience?

First, identify your career goal and learning style and select the program that is the best match. For example, if your goal is a senior management position within your company, look for schools strong in strategy and leadership. Or if you learn best in a team-oriented environment, look for programs that foster collaboration. The best way to evaluate fit is to visit a school and observe a class session. Talk with students, faculty and staff to get a sense of the school’s focus. Finding the program that fits your goals and learning style is far more important than school’s location or facilities.

Second, apply your new skills at work immediately. You and your company benefit when you tap into the expertise of faculty and classmates to gain fresh insight on your work challenges. Also, volunteer for new assignments within your company that will allow you to apply your new skills.

Finally, smart companies will have a career path mapped out for executives they sponsor to encourage commitment and loyalty. If your career path isn’t clear, talk with senior managers within your company. Let them know you want greater challenges and are developing the skills needed to be successful.

What trends do you see driving the executive education sector over the next 12 -18 months? Do you have any top predictions for 2007?

The race for talent is on, and the race is a global one. The best companies recognize that attracting and keeping talent is a strategic challenge. Intense competition is forcing companies to look nationwide – even worldwide – to fill key positions. The premium paid in salary and bonus for a traditional MBA coming from a top business school may cost more than sending an experienced, high-potential employee to an executive MBA program. While traditional MBAs may develop loyalty over time, employees who receive company support to attend an executive MBA program – and who have a career path that allows them to utilize their new skills – tend to have a deeper commitment to their corporation.