The whole 'new normal' concept is really only for the developed world to digest. With an increasing focus on emerging markets, developed countries are going to have to get used to business the EM way. So how exactly do you prepare yourself to deal with the three pillars of emerging economies: bribery, relentless bureaucracy, and imperfect laws? You get an MBA right at the source. You go to Russia and the Moscow School of Management Skolkovo.
"It's learning by doing, not learning by acting or playing," said Serge Hayward, MBA program director.
Hayward said that he is considering asking officials in police agencies and private security firms to speak to the business students, and might even invite an organized crime boss to talk about the challenges of management. "We're trying to put them in an environment where they are going to function rather than tell them about this environment," he says.
Who really cares if members of the Russian mob aren't guest lecturing at HBS? This country wrote the book on business schools and the lessons learned here should be practical virtually everywhere.
"I specifically wanted to get an MBA in Russia," [student Alexandra Dronova] said. "There's not much point to be educated somewhere in the States. There are excellent schools there, but how do you apply this in Russia?"
Ok, so this emerging market institute of higher learning is dispensing with the conventions of the US "business schools of the past" and seems to have created a 100% Russian MBA to address the nuances in everyday life in Russia. Well, maybe there is one thing the b-schools of the past have right.
Classes in Skolkovo are conducted in English, the business world's lingua franca.
New Russian MBA program tackles real-world hassles [AP via BusinessWeek]