How MS Programs Remade Fordham

HE SHRANK THE FULL-TIME MBA PROGRAM TO INCREASE QUALITY

The size of the entering full-time MBA class last fall was just 137, down from 250 in 2009. It was as low as 103 the year before–so that Gautschi could focus more on quality, a luxury he could take on thanks to the growth of those one-year master’s programs.

The school is also using social media to get the word out. To attract students, Fordham is running contests on the web, with a full scholarship as the prize. The school typically sponsors a competition with its application cycle to increase the probability that participants become applicants. “The reach is astounding,” says Gautschi. “We’re getting attention in different regions of the world. And we are building awareness quite quickly. Student competitions are most effective with the pre-experience market.”

Of course, the shift in the school’s strategy has not occurred without academic resistance. “One of the great challenges is how to be entrepreneurial in an organization that is not set up to be entrepreneurial,” he adds. “There are so many ways that the structure of the university inhibits innovation. The academic calendar is one because business does not move at the pace of the academic calendar. We have to adapt to that. That message flies pretty well with the faculty here, but I have had a bigger challenge trying to educate the office of the provost. Slowly, I am gaining more allies.”

STILL MORE ONE-YEAR PROGRAMS ON TAP, INCLUDING ONE IN NON-PROFIT LEADERSHIP

Where does he go from here?  “We will continue to reengineer the MBA program and bring out new programs that target demands industry tells us are not fulfilled and pare back on some that are not getting traction. We have a master’s in non-profit leadership that is launching next September in partnership with our School of Social Service. We launched a master’s in human resources in January. I want to permit the faculty to be comfortable in innovating and being entrepreneurial. It is a way of bringing innovation even into the MBA program through MS program development.”

Dean David Gautschi believes the one-year master’s will ultimately benefit the MBA program, even if there is some cannibalization in the short-term. “This is being strategic. If you have a portfolio of these one-year master’s programs, there probably would be some cannibalization. We don’t want to put our MBA program out of business. We’re investing in it to make it more prominent, but not everyone comes into an MBA program aware of all the options. We are beginning to see international students come here for one degree and come back and take another degree. One of those could be an MBA. You could start with a master’s in investor relations and a lot of those credits could be transferred into the MBA program here. So this is another way for a person to economize depending on how people see their choices. A student could start here as a full-time student, get a job and after getting a master’s in investor relations, then do the MBA part-time. We are trying to skin this cat every way we can.”

Gautschi’s strategy has allowed Fordham’s business school to thrive in a highly competitive market. But there is another disruptive force that could threaten the school’s strategy: online education. Distance learning options from schools with bigger brands than Fordham are popping up everywhere. The dean doesn’t seem all that worried given the appeal of the school’s location in New York, a big selling point for Fordham.

“We are still in the early days,” believes Gautschi. “I took a MOOC course last summer on global nutrition out of Minnesota. They have a very high attrition rate. They are in their infancy, but the platforms are pretty darn compelling. They are really impressive. The cow is out of the barn now.”

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