As the financial world implodes and the global economy spirals into confusion, this may not seem the best time for a business school to launch a degree. But such is the growing impact of the Masters in Management degree across the world, that London Business School (LBS) has chosen, this week, to announce its first such degree for managers with no previous work experience.

If there had been any doubts about the value of this type of degree, they have been put to rest by the intentions expressed by two of the world’s leading business schools, London Business School in the UK and MIT Sloan School of Management in the US, to launch such programmes.