In Terms of Quality, Some MBA Schools Succeed Only to a Degree

Taking their own lessons to heart, the nation’s business schools have strived over the past 20 years to become profit centers for their universities.

The 1980s were a boom time, and a master’s in business administration seemed like a sure ticket to a good job and an impressive title. But with the Wall Street crash in October, 1987, many MBAs found themselves pounding the pavement. And as the economy faltered and organizations downsized, the MBA lost some of its luster.

Business school marketeers needed a new approach. Economic upheaval had left mid-career white-collar workers desperate for ways to add skills and polish their resumes, and the demand for continuing education increased. As a result, “executive” MBA programs have become cash cows for schools whose revenue has historically come from tuition, taxes, alumni donations and research grants--all of which today are in short supply.

In some cases, it’s as if the proprietor of a five-star restaurant had suddenly decided to offer an all-you-can-eat buffet. A number of business schools whose budgets have shrunk dramatically have been forced to forgo academic vigor, tough entrance requirements and integrated learning in order to attract more students. On the other hand, this newly competitive environment has motivated other schools to expand their hours of operation and improve the quantity and quality of their offerings.

The good news is that the range of choices for the prospective MBA candidate has been expanded. The bad news is that some programs have all the nutritional value of a fast-food meal. Because they are driven as much by the market as by an academic mission, MBA programs today are as varied as restaurants in terms of their management, menus, ambience, service, accessibility and cost.

So here is a brief Michelin-style guide to the MBA:

* A “five-star” MBA experience can still be had in first-tier schools--those ranked among the nation’s top 50. Their deans are usually seasoned chefs, and the reputation of their programs is well deserved. These schools have solid academic programs, distinguished faculties and well-qualified students.

* The “family style” MBA is found at most large state universities and colleges, whose business schools are generally ranked in the second tier. Deans here are often cooks-turned-chefs--that is, faculty members promoted from within. Historically, their main task was to manage the faculty and academic programs. Today, their main task is to find new sources of income.

These MBA programs offer basic business courses and traditional electives. However, unlike at a five-star business school, fewer resources will be allocated to this group’s regular MBA programs as more resources are allotted to the development and marketing of higher-revenue-generating executive programs. Courses in the regular MBA program tend to be taught by part-time lecturers because the executive programs take the best full-time faculty members.

* The cafeteria-style MBA is offered at many small, usually private schools. Here, the main task of the dean is to make sure--the way a cafeteria chef would--that sufficient courses are offered and that their quality meets minimum standards. Usually there is a dearth of full-time faculty members at these schools, and most classes are taught by working professionals on a contract basis. These schools are self-service in that students can design their own programs; most popular are the “how-to” (vocational) classes rather than the “why” (theoretical) courses the five-star and family-style programs require.

* The fast-food MBA is for those who want to obtain a degree the easy way. At such schools, customer satisfaction is measured by speed, convenience and packaging. These programs usually require no class attendance; exams are conducted by mail or fax. Although rarely accredited, this type of program continues to flourish because the main entrance requirement is the ability to pay.

Clearly, those desiring an MBA today have a large selection from which to choose. It’s like picking a restaurant: If customers want to be assured of getting what they pay for, they should inquire about the quantity and quality of the offerings, the reputation of the chef and cooks, the hours of service and the characteristics and recommendations of previous customers.

Bon appetit!