On May 24-25, 2019, University of Michigan Pan-Asia Alumni Reunion returned to Hong Kong after taking place in Singapore, Seoul, Shanghai, and Taipei. This major annual event kick-started with a Ross Executive Education session led by Dean Scott DeRue at the Ross School of Business ("Michigan Ross"). Together with Chief Executive Education Officer Melanie Weaver Barnett, they shared the latest trends in digital business and executive education.
Since 1997, Michigan Ross has been offering a broad portfolio of open enrollment and customized executive programs in Hong Kong, including Management Skills Programfor those who wish to become an effective team leader, and Enterprise Executive Program that provides participants with an opportunity to work on an application of the ideas to a business of their choosing.
Business Education in the Digital AgeNowadays, business education spans beyond universities. Seeing worldwide companies like McKinsey and LinkedIn moving into the education space, Dean DeRue believes the top consultancies and tech companies will be both collaborators and competitors with universities in the future of corporate learning and development.
To attract great talent and establish new standards in executive learning, universities such as Michigan Ross are increasingly embracing digital education. "Michigan Ross is investing in digital platforms to reach more diverse learners with greater flexibility in their learning journey," says Dean DeRue. "Today, approximately 25 percent of our part-time MBA and Executive MBA students' experience is through digital channels, and our new Online MBA will be about 75 percent delivered on a custom-built digital platform."
Leveling the Global Executive Education FieldWeaver Barnett sees more similarity among talents' needs from the U.S. to Asia than she did previously. "We saw many young people in executive positions in China a few years ago, and we found ourselves working with companies to rapidly accelerate the development of less experienced managers who had been promoted to positions with high levels of responsibility.
"There is a generation of talent in China," Dean DeRue adds, "Mostly in their forties and fifties, that did not have the same access to formal business education that exists today." The executive education programs at Michigan Ross could be of service to them. "Not only do we help executives advance in their career, but we are also deeply committed to helping Chinese organizations build their talent pipelines and organizational capabilities to help drive competitiveness in the global marketplace." Michigan Ross is already working with important Chinese companies on significant executive development initiatives, including ICBC, CDB (China Development Bank), and PICC (People's Insurance Company of China.)
Co-Creation of Learning and Re-Learning"As a globally ranked top-10 business school, we have the best faculty who partner with companies all around the world on the most important business opportunities and challenges," Dean DeRue says. "Our faculty are exceptional at partnering with companies to design learning experiences that meet those needs our approach is really a co-creation model with the company and its leadership."
Weaver Barnett also acknowledges the mutual benefit of executive education. "We create learning journeys for leaders in the workplace. Real-world experiences can then be brought back to the classroom as the faculty teach students throughout the world."
Another trend emerging is personalization of the learning experience. Weaver Barnett wants executives actively apply new approaches to those challenges as part of their learning experience in the program, followed by personalized coaching and mentoring opportunities.
What It Takes to Be an Up-to-date Leader"Leadership is about three things," Dean DeRue concludes. "First, being able to articulate a compelling vision, and to give purpose to why we should go in one direction or another. Second, to structure the organization that is going to enable the people to deliver on that vision by creating the right incentives and workflows. Third, to develop the connections across boundaries, and positive culture that will enable the organization to deliver on its vision."
Speaking proudly, he smiles, "I am always inspired by what our alumni are doing, and to know that we at University of Michigan had a part to play in giving them the skills to elevate to positions of influence, empower them to innovate, and ultimately excel in their lives."
The University of Michigan Ross School of BusinessEnquiries on programs
Website : michiganross.umich.edu
Facebook : www.facebook.com/MichiganRoss
Twitter : twitter.com/michiganross
Instagram : www.instagram.com/michiganross/#
YouTube : www.youtube.com/user/RossSchoolofBusiness
Tel : (734) 615-5002 (Michigan Ross Office, US) (852) 2509-9088 (Asia Pacific Regional Office, HK)
(All information is provided by the courtesy of The University of Michigan Ross School of Business)