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3. Integration
Nam has previously observed that the modular format of typical MBA programs limits students' ability to connect their cross-subject knowledge and develop a holistic view of a business.
“Students would come to me with the problem I’ve assigned to them and ask if I want it analysed from an accounting perspective, or a strategy perspective. In the real world, there is only the business perspective,” says Nam. “You have to consider all the elements and decide what is best overall.”
“A business leader needs to know how all the key aspects of the company—accounting, marketing, strategy, human resources—fit together,” Nam adds.
The new Melbourne MBA begins with a Business Foundations module that instills in students a holistic view about business.
This integrated view continues to be reinforced in other subjects throughout the program. For example, in the Biodesign subject, teams of MBA students and Master of Engineering students collaborate with hospital clinicians to explore, invent, design and build medical devices that have the potential to meet important clinical needs.
These kinds of experiential learning projects, which are becoming increasingly popular in business school curriculums worldwide, are the key to ensuring MBA graduates possess the relevant skills to succeed in their career.
“Business leaders need to lead, manage and inspire people. That was the goal 30 years ago, and it’s still the goal today," says Nam.
With this in mind, the newly revamped MBA at Melbourne Business School is not so much about redefining the purpose of an MBA but refining the curriculum and delivery to better fit that purpose.
In doing so, the course is set to provide tomorrow’s business leaders with the skills they need to navigate an uncertain future.
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