University of North Carolina’s Kenan-Flagler Business School
MBA 899: TOPICS IN BUSINESS
Innovation is a constant focus. Kenan-Flagler professors are frequently adding up-to-date content, from a new course on artificial intelligence or diversity, equity and inclusion to sessions on crisis communications and health care. “We try to adapt to student demands,” maintains Hente. “The program is still very student-centered. We have a student advisory board that we meet with quarterly. That has been a fantastic two-way communication channel for us.”
One innovation that came out of the pandemic is MBA 899 Topics in Business. It’s a one-credit course scheduled and offered as a full one-day live seminar. The school’s professors have used it to fast-track hot topics such as sustainability, artificial intelligence, and organizational belonging. “Instead of waiting for traditional course cycles, we can address topics right away,” says Venkataraman. “Whatever is current is offered in this class. This quarter it could be AI, next it could be disruption in healthcare. That has been a well-received innovation.”
Adds Hente: “This was a direct result of the pandemic. To create a course that met student needs.was born out of necessity because they were supposed to go to a summit in Vancouver but the pandemic forced them to cancel. Students needed an extra credit to graduate. We put our heads together to create 899.”
‘WHY ZEBRAS DON’T GET ULCERS’
Christian’s class on Energy Crafting For Resilience is a good example. The professor is currently writing a book on energy crafting and his class comes straight out of the yet-to-be-published manuscript. After an opening lecture, Christian asks the students to think about resiliency: what does it mean to them and how to achieve it. Another exercise in the class is a flash signature competition. The winner of the contest would have signed his or her name more than any other. The assignment is meant to create some level of stress among the competitive students.. Some find the competition engergizing; others admit to feeling pressure or even anxiety to write their names as quickly as possible in order to win.
At one point, the professor projects a slide onto the screen behind him. “Why Zebras Don’t Get Ulcers,” it reads.
“It’s because fight, flight, and freeze kicks in when a lion comes out of the grass,” says Christian. “Humans and zebas have a similar responses to stress. But humans have more brain power to deliberate,set goals, enage in acts of self-control, and think about other people.” Christian is trying to get the students to “reframe” stress, to see the opportunity in stressful events.
THE SCHOOL’S REPUTATION FOR QUALITY AND THE MANY IN-PERSON OPTIONS ATTRACT STUDENTS
MBA@UNC student Alex Blain expects to graduate with his MBA in 2024
Most online students say they have chosen Kenan-Flagler for the school’s stellar reputation and the flexibility online learning offers. Students who choose to study online continue to earn a paycheck at work and can immediately apply the learning to their professional challenges. Students can stretch out the time to complete the degree in as few as 18 months or up to three years. They also can begin the program at one of four class starts in October, January, July, and April. The online platform used by Kenan-Flagler leverages every tech tool possible to make classes as interactive and engaging as possible, from live chats, polling, and sharing features to keeping close track of one’s progress with reminders for upcoming live classes and new assignments along with a student’s most recent grades.
Last year, 868 prospective students applied to the program, 542 were accepted, and 337 students enrolled. In evaluating applicants, Kenan-Flagler looks closely at undergraduate transcripts and recommendations. The quality of a candidate’s application essay, their performance during an interview, work experience, and character qualities loom large in assessing an applicant. Standardized tests are less important, with just 4% of students having submitted a GMAT or GRE score.
Employers are helping to foot part or all of the tuition bill for four of every ten students in the program. But a third of MBA@UNC students borrow money to get the MBA, with the average debt of 2022-2023 graduates coming in at $112,035. One year retention rates in the program are exceptionally high at 97%, while 91% of the students earned their MBA within three years, though most graduate in two.
Alex Blain, 42, a U.S. Army veteran who works as a compliance and risk manager in Arlington, Va., considered the online MBA options at three other schools–Carnegie Mellon, Michigan Ross, and William & Mary–before deciding on Kenan-Flagler. “At the end of my decision, it was the reputation, the name, and the quality of education at UNC,” he says, “along with their established reputation for online education. I wanted something that emphasized student engagement with summits and weekly live classes. I knew the program was costly but the price would come with expectations of quality. I also initially thought about a full-time MBA but one of my mentors said you could do it now while you have your job and get it done.” An added attraction for Blain, who is using the program to shift into consulting, was Kenan-Flagler’s STAR program that matches student teams with corporate partners to solve business challenges.
Unlike Blain, Matt McPherson, 28, a business development manager for Dot Foods in Austin, Texas, had first been focused on a full-time MBA, looking at programs Texas McCombs, Duke Fuqua, and Kenan-Flagler. “The MBA for me has always been part of my insatiable curiosity,” says McPherson who ultimately decided he wanted to stay in his career with Dot. Married in Chapel Hill where his in-laws currently live, he began focusing more on Kenan-Flagler. “I have a profound love for Carolina and a community that binds people together,” he says. “I was apprehensive about the online format but the quality of delivery and engagement has been phenomenal. It has been satisfying for me to expose myself to new experiences.”
‘THE NAME KENAN-FLAGLER HOLDS A LOT OF WEIGHT’
“The name Kenan-Flagler holds a lot of weight,” echoes Ayessha Hall, 26, an assistant vice president at Bank of America in Charlotte, N.C. “It is no mystery that it is pricer than other programs, but I trusted the return I could get from my investment.” The in-residence sessions were also a draw for Hall. “You meet people you see on the screen,” she says. “Once you meet people in person you put a face to the name, and it’s a different and deeper connection with a deeper love for the school.”
These and other students also found that the bells and whistles of the MBA@UNC had been a real draw. Blain took advantage of the program’s option to do a week-long course at The Washington Campus where he met with federal officials, lobbyists and media types to delve into public policy issues and their impact on the world of business. McPherson spent three weeks last summer at ESSEC Business School in France, one of more than 30 so-called DBI programs (Doing Business In) that focus on a specific business topic such as sustainability, entrepreneurship, or fintech. Among recent DBI electives was the opportunity to study sustainability in Copenhagen, Denmark, digital marketing in Helsinki, Finland, entrepreneurship and innovation in Tel Aviv, Israel, or doing business in China at Peking University.McPherson also did the school’s immersion in Argentina in January. He says those offerings made the difference for him in choosing Kenan-Flagler over the online options at Carnegie Mellon, USC Marshall, and Indiana University’s Kelley School of Business. “The Summits weighed pretty heavily in my decision to come here,” he says. “Having that in-person engagement was the best of both worlds to connect with the faculty and classmates.”
The school sends about 25 online students abroad in exchange programs every quarter.
McPherson especially looks forward to the quarterly immersions. “For me, they’re a next-level dive into various leadership styles, my leadership development, and my self-awareness. It’s a great opportunity to get to see and network with classmates and to really pick up on inclusiveness, diversity, and equity. That is a hot topic in business right now and having Kenan-Flagler experts share their knowledge is a great experiential learning opportunity. Last year I felt I had a lot of growth during those weekends, meeting other students from different cohorts. One of our classmates this weekend was a pitcher in Major League Baseball for a number of years. Another is a commercial business developer. The breadth and access you get is pretty remarkable.”
EARLY CONCERNS OF DOING AN ONLINE DEGREE PROGRAM PUT ASIDE BY THE EXPERIENCE
MBA@UNC student Matt McPherson plans to graduate in 2024
“The weekend Summit immersions are great because they build off the quarter learning,” says Blain. “This last quarter I did M&A (mergers and acquisitions) and coming here and talking to classmates about it helped. I made a best friend here and got a job connection as well.”
Any initial doubts about doing an online MBA have been resolved by their experience in the program. “I have been blown away with the level of engagement from everyone,” says Hall. “Group projects force you to connect with other students. You really get to know these individuals, and the commitment of the faculty. I was struggling with a class and reached out to my professor and she scheduled a Zoom call the following day. It’s not much different from having to travel to a physical location every day. “
Blain concedes he first wondered about the quality of students and the rigor of a program in an online format. “It is not diluted,” he concludes. “It’s hard and there is rigor and it is designed to challenge me intellectually.”
McPherson, too, had early concerns. “My skepticism was around the level of commitment in online programs,” he says. “What exceeded my expectations was the commitment of the faculty and my classmates. There is a level of competitiveness that persists in the students as well. Students really want to engage and help each other in building a strong community. From start to finish. It will be nice to have time back but I am going to miss my interaction with faculty and classmates.”
SACRIFICES IN BALANCING SCHOOL WORK WITH PERSONAL & PROFESSIONAL RESPONSIBILITIES
Common to all part-time students, whether online or in-person, is the need to balance a demanding degree program with personal and professional obligations. McPherson says support from his wife made the difference. “It is rigorous and it is challenging,” he says. “I knew the commitment would stretch me. The support from my wife helped out a lot, and she support from work also made it manageable. It certainly is not easy.”
The program’s demands may be a greater challenge for someone with children. Blain and his wife, who is currently pursuing a PhD at the University of Virginia, have a two-year-old boy, Noah.
“From the start, my wife and I sat down and agreed that this is what is going to happen for the next four years,” recalls Blain. “So let’s support each other. There will be times when we have to make sacrifices. And there were times when during team meetings, I had my two-year-old on my lap.”
Hall, who doesn’t yet have a spouse, started the program believing that “the days will be long but the years will be short. I am in this period of my life when I don’t have those outside commitments. I throw everything into my work and my school. I came in knowing it was going to be a sacrifice but I knew everything would be worthwhile.”
BIGGEST CHALLENGE: UNDERSTANDING WHAT STUDENTS NEED AND WANT
MBA@UNC student Ayessia Hall will graduate in 2024
This is all music to the leaders of the program. “Our biggest challenge is to understand what the students want and need, providing opportunities for them to excel in new areas,” says program director Hente. “We have to tailor an experience to a wide range of people from doctors and lawyers to corporate executives and entrepreneurs.”
Venkataraman agrees that ” keeping the team market focused” is essential. “The market needs change and the employers’ needs change. We have to make sure we never lose sight of it. The new emphasis on tech as a tool to do business is part of that. Leadership is something we take very seriously here. It is one thing that makes us distinct. It is not a course. It is how we do business.”
And back in Christian’s class, the professor is extolling the three things that make a person resilient. “It’s physical exercise, social support, and a hardy mentality, reframing stressful events as opportunities.”
It’s something that these online MBA candidates experience every day when balancing their studies with a demanding boss, a sick child, or a needy dog.
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