GMAC has announced the first winners of its competition to promote innovation in business schools - the Management Education for Tomorrow fund. The 15 winners were selected from a pool of 650 entrants and the competition now enters phase two - turning these ideas into reality.
Any professor, student or manager can submit suggestions on how the winning ideas can be implemented. “The joy of this contest is that it was an open invitation to everybody,” says Dave Wilson, president of GMAC. “These ideas have the very real potential to change management education for years and even decades to come. One of these ideas, may, in the end, change the way our grandchildren study management.
First prize of $50,000 went to Alice Stewart of North Carolina A&T State University, who proposed a way for students to customise their degrees, using a series of “stackable” units, in particular related to areas of technology.
Other winning proposals involved a GMAC network for MBA entrepreneurs, teaching management using the kind of problem-solving methods of other disciplines, such as maths, and requiring every student to write a fully detailed business plan to improve something in business or the world.
Suggestions for implementing these ideas can be submitted between now and October.