1990 MBA 2000
A wide-ranging rethink of the fundamentals of the MBA curriculum is launched under the name MBA 2000. The aim is to bring the programme closer to the realities of the business world. It will also do more to heighten awareness of future issues such as environmental pressures, information overload, ethics and design. The new programme will start in 1991.
The average salary for graduates is reported to be £34,500, with 38% of graduates taking up jobs outside their country of origin.
Sixty students visit Moscow and spend a week working in Soviet industries. The trip is sponsored by Pizza Hut, which had just opened its first restaurant in the Russian capital.
1991 Changing times
The revised MBA programme promises to be more flexible, more international and more integrated, offering greater depth and practicality. Electives include Managing East European Operations; Technology Management; and New Venture Development, which develops a framework for evaluating start-up propositions and is taken by more than 70% of second year students. Other electives are available, such as A Week in Line Management, putting students into the field to solve real problems; and 1992: Business in the European Community, which looks ahead to changes after the Maastricht Treaty.
The incoming class is the largest and most international group yet, with 208 students, 66% of them from outside the UK.
The International Exchange Programme now has relationships with 27 business schools in 11 countries.
Of the 176 graduates in the Class of 1991, 34% go into consultancy, 27% into manufacturing, 24% into finance and 4% set up their own businesses. Some 38% take jobs in the UK, with a further 37% employed in the US and 18% in Europe.
1992 From communism to capitalism
The School’s first Russian MBA student graduates.
Some 75% of students in the incoming class come from outside the UK, from 45 different countries – a reversal to just five years before, when 75% were from the UK.
The School introduces a language requirement whereby students will have to be fluent in both English and one other language to receive a degree.
The part-time Masters is relaunched as the Executive MBA or EMBA.
1993 Business computer games
The School adopts new computer-based business management simulation games designed to enhance strategic thinking. On the core course, The Challenge of General Management, students explore how to manage rapid growth in a service business using the People Express Airline Simulator based on a fictional discount airline. On the core strategy course, students use the Prelude/Fishbanks micro-world to explore the consequences of competitive strategy. The DataPaq/Business Take-Off Simulator demonstrates the power of alternative venture capital financing approaches for a start-up, while The Beer Game demonstrates the connection between manufacturing policy and strategy.
Finance, consultancy and manufacturing vie for graduates from the Class of 1993, taking 35%, 27% and 26% respectively, with 12% going to service companies.
1994 Eastern promise
The Export Marketing Programme sends teams of second-year MBA students to companies in Eastern Europe to identify, evaluate and make recommendations on products that have export potential in the west. More than 100 students give advice to 50+ Eastern European companies.
Of the MBA students, 21% are from the UK and 27% come from the rest of Europe. The programme continues to attract people from Asia and Australasia (24%), North America (20%), Africa and the Middle East (4%) and Central and South America (4%).
Manufacturing is finally in terminal decline among MBA graduates, attracting just 20% of the Class of 1994. Meanwhile, 33% head to financial institutions and 31% go to consultancies.
1995 The value of an MBA
The Class of 1995 reports average graduating salaries 67% higher than their pre-MBA rates.
In common with leading US business schools, applications to the MBA programme are up by almost 24%, resulting in the second largest ever intake.
Two new electives are introduced: Managing Corporate Renewal, which aims to advise how to manage radical change; and Information Businesses, which explores the importance of digital for business development.
1996 Backing entrepreneurs
The School says that developing entrepreneurship is one of its priorities and points to electives with a strong entrepreneurial bias, including: Financing the Entrepreneurial Business; Small Business Management; and New Venture Development II, for MBA students working on business plans which they intend to pursue after graduation.
Other new elective courses include: Advanced Forecasting Methods in Financial Engineering – which examines data analysis and forecasting technologies such as neural networks and generic algorithms that underpin many quantitative investment models; Computer-Based Financial Modelling; Dynamics of Strategy, using micro-world simulator games; and a course on ethics and professional standards.
1997 The rise of ‘soft skills’
The School offers more training in personal skills to make students as highly developed in this area as they are in intellectual and analytical skills. The aim is to help students assess their personal strengths and motivation, while also encouraging group work to develop social and team skills.
1998 Consultancy vs finance
Consultancy and finance battle it out to recruit MBA graduates, taking 39% and 38% respectively, while manufacturing declines to 11%, below service industries at 12%.
Student numbers on the full-time MBA increase from 120 to 180. Some 51% of students are from the UK, with 23% from Asia-Pacific, 13% from North America and a further 13% from the rest of Europe. Thirty different nationalities are represented. “We must recognise that if we are to meet the needs and expectations of British managers and British business we must become truly international,” says the School.
A new ‘green’ elective is introduced on environmental economics.
1999 Europe’s number one
In the first Financial Times Global MBA rankings, LBS is number one in Europe and eighth in the world – the only non-US school in the top 10.
The Class of 1999 reports an average starting salary of £53,000.
There are 271 students in the incoming class, with an average age of 29. Some 22% are female and 79% are from 40 countries outside the UK.
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