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Women and MBA Scholarships

These graduate scholarships range from waived tuition fees to full tuition, allowing female students to take an important step toward becoming future women in business. Image from https://unsplash.com

Alfred Heekin February 8, 2023

MBA programs at top universities offer a wide range of financial aid opportunities to attract female students. Business scholarships give female candidates with financial need a leg up in securing their business education. This article covers some of the most promising initiatives for women in business.

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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In 2020, women held 24 percent of corporate board seats in Europe and North America (up from 20 percent in 2019). By 2022, that number rose to 29 percent, representing more than a 20 percent increase over two years and a near 50 percent increase over three years. While the numbers are certainly improving, there are still miles to go to achieve gender parity in business across the globe.

One simple solution lies in higher education. A master's degree in business administration opens doors to high-paying leadership roles in various industries. A business education can prepare students for lucrative careers in areas like engineering, aerospace and defense, and executive leadership. So, why do women represent only 41 percent of MBA candidates when they constitute more than half of the global population?

Many philanthropic organizations are working to address this disparity through women's scholarships, fellowships, and financial aid opportunities. These graduate scholarships range from waived tuition fees to full tuition, allowing female students to take an important step toward becoming future women in business.

This article provides information on women and MBA scholarships. It covers the following topics:

Full-time MBA programs and women in business
Best MBA scholarships for women
Additional opportunities for women in business

Full-time MBA programs and women in business

As of 2022, eight percent of CEOs were female. This certainly isn't due to a lack of leadership potential. The Harvard Business Review notes, "Research has shown that firms with more women in senior positions are more profitable, more socially responsible, and provide safer, higher-quality customer experiences."

The dearth of female graduate students in MBA programs hurts more than just women. Diversity correlates directly with increased innovation, which drives market growth. Companies that take advantage of this knowledge are more likely to thrive. Businesses face real consequences when they fail to recruit female candidates for executive leadership roles. With an MBA degree, these women are well-suited to nab top-tier positions and, in turn, spur success for their organizations.

Best MBA scholarships for women

Women's scholarships for business administration are, thankfully, numerous. This section covers some of the most prominent and lucrative opportunities out there for female applicants. Bear in mind that new scholarships are released frequently. Be sure to supplement this list with additional research.

The Forté Foundation fellowship programs

The Forté Foundation fellowship programs offer much more than financial assistance to their Forté Fellows. The organization is well-known for providing ongoing support and networking opportunities in addition to fellowships and school grants. These awards are available for full-time, part-time, and executive MBA students applying to specific schools. To date they've awarded more than $334 million to 13,000 Forté Fellows.

The Forté Fellows selection process includes a rigorous scholarship application. Students must show excellent extracurricular activities, GMAT scores, GPAs, and work experience.

Jeanette Rankin Women’s Scholarship Fund (JFR)

The Jeanette Rankin Women’s Scholarship Fund (JFR) provides scholarships for low-income women 35 years and older looking to build better lives through post-secondary education. Its mission is to inspire a better world by empowering women through education. Today, the organization has awarded more than $4 million directly to 1,300 women seeking business degrees.

National Scholar Grants go to applicants who demonstrate financial need and provide recommendations and personal essays.

Chicago Booth School scholarships

The University of Chicago Booth School of Business offers The Herman Family Fellowship for Women Entrepreneurs every year to support female students seeking MBA degrees. Chicago Booth also provides many other merit-based awards with varying application requirements.

The American Association of University Women (AAUW) career grant

The American Association of University Women (AAUW) career grant supports women pursuing MBA degrees. In the 2022-2023 academic year, the association awarded over $6 million in grants to women in business. Primary consideration goes to women of color.

London Business School

If you're considering studying abroad, London Business School is a great choice. It offers full-tuition grants to multiple female MBA candidates per year. All eligible candidates are automatically considered upon applying to the school.

INSEAD Judith Connelly Delouvrier Endowed Scholarship

INSEAD, another international graduate business school, offers a full-tuition ride for women who win their prestigious Judith Connelly Delouvrier Endowed Scholarships. Female applicants must submit essays on why they should receive the award as "meritorious scholars."

HHL Leipzig Graduate School of Management

The HHL Leipzig Graduate School of Management offers merit-based scholarships to female MBAs in its part-time and full-time programs. Applicants must provide proof of high academic performance and excellent GMAT or HHL entry test scores.

Additional opportunities for women in business

MBA scholarship programs are just one avenue by which women can pursue support. Even post-graduation, organizations are keen to elevate and celebrate female leaders and entrepreneurs in business. Here are some additional opportunities to consider.

C200

Nonprofit organization C200 is "... changing the face of business, one woman at a time." Its mission is to inspire, educate, celebrate, and advance current and future women entrepreneurs and corporate leaders. It has awarded over $1.68 million to 13,000 women in business through reach-out programs. It also offers a protegé program to help female business owners thrive with the assistance of mentors.

Working for Women

Working for Women "facilitates strategic partnerships between businesses committed to affecting social change and nonprofits focused on supporting the success of women who are economically marginalized." It provides this support via financial and skill-based contributions for women in business.

U.S. Small Businesses Administration

The U.S. government also provides support for women in business via the U.S. Small Businesses Administration. "The Office of Women’s Business Ownership (OWBO) helps women entrepreneurs through programs including business training, counseling, federal contracts, and access to credit and capital." The office also provides financial assistance for female entrepreneurs running U.S.-based businesses.

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