I respectfully suggest there is an exciting new opportunity to create a new business program for the 21st Century called the”Masters of Business Disruption” – MBD.
The MBA was created by Harvard in the early 20th century to train people manage these new things called corporations which America had a real propensity for creating. Millions of people around the world now spend up to $100,000 to obtain an MBA. Why? Mostly to try and get a better job in an existing large corporation, either public or private. Its a model that works well and UQ’s MBA does this better than any other in Australia and was ranked 10th in the world and number one outside of Europe and North America by The Economist. So if you want to get a better job in a big organization, do an MBA.
However as the dominance and lifespan of large corporations rapidly diminishes, manufacturing economies like Detroit, Manchester, South Australia, Newcastle and Geelong are being ravaged. Its obvious we need to do more than just manage big organisations better. What the future needs now is people who know how to disrupt and create new industries. An MBA just isn’t designed to do this. What we need is a second generation business course for the 21st Century. I initially thought this Program could be called the “Masters of Mass Disruption”, however perhaps sophisticated sand- stone universities wouldn’t be interested in something that sounded like a kids action movie title. Therefore I respectfully suggest there is an exciting new opportunity to create a new business program for the 21st Century called the “Masters of Business Disruption” – MBD.
It should be a born global program delivered in partnership with a number of global universities, using the best online courses available to help intra and entrepreneurs disrupt existing industries and create new industries and sectors. Much of the program content could be delivered online, however students could come together in each country every quarter for a week and once a year for a week all enrolled students from around the world would meet in one place for a one week global disruption workshop event. This could even be a pitching element to investors and corporates.
Every student would need to work on a specific project throughout the program which could be a corporate transformation project or a start-up. The money saved from not delivering lectures could be spent on experienced disruptive mentors that meet with the students during intensive sessions and guiding them through their projects. I can hear you say you can’t teach disruption or entrepreneurship. I only partially agree. While the majority of the best start-up founders didn’t study entrepreneurship, the failure rate of new ventures is spectacular.
Those that became unicorns, probably did so because they had the right idea at the right time and had the perseverance and persistence to see it through. If we have better disruption training perhaps we will have a higher startup success rate. Still need a good idea, but some good teaching and mentoring can increase the likelihood the good idea might become the next big innovation. Universities are large organisations, so disrupting their existing MBA programs is not an easy task. But I suspect by 2020 and beyond these types of Masters will be much more prevalent than they are today.