For example this year we went to the Middle East, and we saw an additional increase in applications from that region. We did some joint travel with a group called Access MBA and with our joint-degree program that combines our executive MBA with the National University of Singapore. So we saw a number of people applying from Saudi Arabia, Israel, and other areas of the Middle East.
Do you plan to continue this program in the future?
We do. I think it's a very strong growth market, and in the long term it could yield a lot of terrific applicants.
UCLA has added a few leadership electives to the curriculum since June 2008—Ethical Leadership, Complexity Leadership, Leadership & Ethics. Does this timing have anything to do with how MBA education has been perceived during the financial crisis?
I think that these actually continue our history that we've had of focusing on a lot of the more qualitative dimensions of the MBA. Certainly solidifying them into particular courses helps enrich what we already do. Some of that stems from demand for students, and some from the business community. It's incorporating [ethical leadership] in a more structured way.
Last year, only 80% of students reported having a job offer by graduation, and decreased job placement is getting to be a common story among B-schools. How is the economic crisis affecting job placement of Anderson grads?
Anderson is very fortunate in many ways relative to other programs when it comes to career choices. Like other MBA programs, we do find job placement is more of a challenge than in prior years. But the one advantage we have over many top programs is our historically broad mix of companies and industries that have come to our campus on a regular basis.
For example, during the '90s and in recent years, in which the demand for MBAs in careers such as investment banking and consulting was very high, we continued to maintain relationships with a broad set of companies including consumer goods, biotech, high tech, nanotechnology, manufacturing, aerospace, and clean energy. Rather than adopt a follow-the-herd mentality that you may find at some business schools, our students have pursued a broad range of careers. We do have a healthy representation at consulting firms and top financial institutions, but this is augmented by a rich diversity of other career choices.
In 2008, 42% of graduates not seeking employment were trying to start their own businesses. That's pretty high among business schools. Do you attribute this to the entrepreneurship program?
I think the focus on entrepreneurship speaks more to a general approach to learning and education at UCLA Anderson. People have historically looked at entrepreneurship very narrowly and have thought that it meant simply to start your own business. We have always looked at it as much broader than that.
Entrepreneurship is not just about starting your own initiative. It's about working within a more established company and helping it survive, particularly in a climate when many large companies are folding. We do have the Harold and Pauline Price Center for Entrepreneurial Studies at UCLA, which is an incredible resource for people who want to pursue entrepreneurship. Students come to this school because it brings in venture capitalists and angel investors. It gives students broad exposure to local industries and business to see how startups begin, how they succeed, and how they fail. They give them a lot of the hard and soft skills they'll need to succeed.
What role does Los Angeles play in business life at Anderson?
Los Angeles (and this is surprising to many who don't know the city well) is home to a lot of small businesses, where the actual growth in U.S. and world economies is [coming from]. At the same time, it still is home to a lot of larger Fortune 100 and Fortune 500 companies. But there is an opportunity to be closely involved in local business.
What are alumni from Anderson doing to help grads land jobs?
One of the things we hear is how responsive alumni are to helping students. |