Are Low Ranked B-Schools Worth Your Time?

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Dan Bauer September 8, 2014

Create your MBA wish list around these four priorities: knowledge, perspective, network, and prestige.

In this course, participants learn core principles, concepts, and methods of continuous improvement and explore the history of continuous improvement efforts. In a series of lectures, Master Black Belt in Six Sigma Shane Wentz, Ph.D., enables learners to enhance, optimize, and stabilize business processes and to augment quality control through varied methodologies. Participants gain the skills and knowledge to reimagine internal processes, engage in advanced problem-solving, and empower employees. The course covers high-level foundational principles of Lean, Six Sigma, and DMAIC processes before diving deep into Lean Six Sigma methods. Learners will analyze the tools of process mapping, Kaizen (a continuous improvement method/tool deemed a prerequisite for Lean transformation success), Lean (a continuous improvement philosophy that emphasizes streamlined workflows and reducing waste), and the process improvement methodology driving DMAIC: Define, Measure, Analyze, Improve, and Control.

Entrepreneurs fostering new ventures outside of well-developed entrepreneurial ecosystems like Silicon Valley face significant challenges. These markets are unlike Silicon Valley, and they will likely remain so. That doesn't mean they can't nurture and sustain new businesses. In transitioning markets that lack abundant private sector financing, creative approaches from government officials, donors, and business leaders can fill the void to support entrepreneurial activity. Northeast Ohio (where Cleveland and Case Western Reserve University are located) has become a laboratory for such innovative solutions. During our time together in this course, we will explore some of these creative approaches to promoting regional entrepreneurship. Northeast Ohio has seen a massive infusion of government and donor resources for over ten years. In that time, Northeast Ohio has promoted regional development (including job creation and follow-on funding) through alternative methods of financing startups. It has not been easy. The region has made progress, but it remains to be seen whether it has struck upon an enduring formula. A dynamic entrepreneurial ecosystem takes many years, even decades, to develop. Government policymakers and donors typically seek quicker returns on their support programs, which makes long-term support for entrepreneurship challenging. This course includes case studies and first-person testimonials from entrepreneurs who have launched products and services ranging from medical devices to LED lights to whiskey. You will learn how these entrepreneurs discovered and procured resources from various programs and intermediary organizations. You will hear from business people still in the process of developing their companies as well as those whose ventures have flourished. Our focus will extend beyond Cleveland to selected markets around the world, including Greece, Vietnam, Tunisia, Argentina, Rwanda and China. You will learn about international incentives and other supports available to developing startups and small businesses across the globe. This course examines how different communities around the world approach implementing strategies and methods to support businesses. I will ask you to reflect on how to apply the principles we learn to growing entrepreneurship where you live. The social interactive features of the online platform will enable students from around the world to share ideas and learn from one another. Most MOOCs rebroadcast professors’ lectures; this course is different. Don’t expect to see me standing in front of the camera, talking and lecturing every module. Instead, the lectures will be relatively short in length. They have more of the feel of an engaging documentary than a static classroom setting. ## __What type of person takes the *Beyond Silicon Valley* course?__ - Active and aspiring businesspeople in communities looking to initiate new startup ecosystems or bolster existing ones - Current and prospective entrepreneurs who want to learn about funding sources, risk management, and the lifecycle of startups - Professionals who work in government agencies, nongovernmental organizations, philanthropic institutions, and various private funds that fund startups - Anyone curious about how to create and grow startup ecosystems outside the major tech hubs - The principles Beyond Silicon Valley teaches have been drawn from and applied to startups worldwide, from small villages to megalopolises. You'll study success stories spanning the globe from Vietnam to Kosovo to Botswana. ## __What will you learn in *Beyond Silicon Valley*?__ - How and where startups can find funding to get their businesses off the ground - What role government can play in encouraging startups and a healthy startup ecosystem - How anchor institutions such as universities and healthcare systems participate in startup ecosystems - How nongovernmental organizations support startups - How to raise funds from venture capitalists, angel investors, and accelerators - How to navigate challenging periods in the startup lifecycle - The importance of mentoring in successful startups

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There are four primary benefits to having an MBA education: knowledge, perspective, network, and prestige.

The core knowledge you would acquire at a second- or even third-tier business school is not that different from what you would gain at an elite school. The case studies, textbooks, and lectures are very similar. The biggest difference when comparing highly ranked vs. lower ranked MBA programs in the context of "knowledge" is the caliber of students and faculty who drive analysis and discussion. However, with diligence and determination, you can still gain valuable learning at a good, but not great, business school.

Developing a strategic, deeply global perspective is a huge asset for MBA grads. This comes through the variety of elective courses, academic programs, conferences, guest speakers, etc., available on campus. Higher ranked business schools tend to have more robust offerings. Again, however, if you have the motivation to go beyond your comfort zone, search out prominent alumni, engage in dialogue with top faculty, and create opportunities to grow and develop, you can elevate and expand your perspective, even if you are a student at a less prominent school.

At this point, however, the differences among MBA programs starts to become significant. Relationships with classmates, faculty, and alumni are lifelong assets for an MBA student. These individuals become your allies, resources, experts, investors, partners and friends. It's logical that people who have stronger credentials, broader responsibilities, greater clout, etc., will be more valuable to you over the years. Graduates of top-ranked business schools are recruited by better companies to take on bigger jobs with more visibility. Furthermore, because they've been supported, mentored and befriended by more influential graduates, the affinity and motivation to pay it forward tends to be stronger at top-ranked schools.

Finally, there's prestige. Whether that means impressing those you meet at a cocktail party, giving your family something to brag about, or convincing a banker or investor that you deserve the benefit of the doubt on a major deal, having the name of an elite business school on your resume and business card can be very appealing.

So, as you ponder the possibilities when building your wish list of MBA programs to pursue, scoring them on those four dimensions — knowledge, perspective, network and prestige — will help you prioritize your targets and focus your time and efforts on the places that offer the greatest return on your investment.