Monday, April 3, 2006

Executive Education: Now More Than Ever

Continued from Page 1

By Carol Hilderbrand

Executive Education: A Competitive Advantage

For many IT executives, executive education lies at the heart of successful change, and embarking on a learning course can give their careers a necessary boost. Executive education counts as a definite advantage. Thus it's small wonder that executive education programs have become so popular. According to a BusinessWeek special report, businesses are turning to executive education programs once again, as reported company investments in these programs make up one-third of their funding, or $662 million in 2002-2003. That includes executive MBA programs, as well as the shorter courses and custom-designed programs that executive education programs offer.

Experts say that CIOs are embracing a far different type of educational experience than in previous years. The common element: courses teaching new concepts that can invigorate and refresh corporate technology strategies. For example, one popular executive education course at Duke University's Fuqua School of Business is its Business Improvisations program, a three-day class that teaches business executives to respond to rapid change. "The ability to be able to adapt to a situation in response to changes in the business environment is a critical skill for IT people," explains John Cady, the associate dean for executive education at Fuqua.

There are several ways to get the most out of an executive education experience. Dave Miller, the director of business development at Duke Corporate Education Inc., a company spun off from the Fuqua School to run its corporate education program, divides executive education into three levels:

Individual Education. CIOs needing to upgrade their own understanding can choose from a variety of courses geared toward individual learners. These can range from two- or three-day short courses to actual degree programs, but the emphasis is on the needs of each particular CIO.

Departmental Education. Nevin Fouts, CIO of the Fuqua School of Business, recently sent his management staff through Innovative Leadership, a week-long program offered by Duke. Sending his entire staff will help his group function better as a whole, he says, and going off-site as a group is also a big help. "Getting away from the operational day-to-day challenges allows managers to gain new perspective," he points out.

Organizational Education. This goes beyond the CIO to embrace the entire organization, says Duke Corporate Education's Miller. Many companies are commissioning custom groups such as Miller's to build executive education courses that work on a cross-functional level. "We'll build a program that's wrapped around the actual business issues of the company," he says. "It helps a company look at the big picture and think about how to integrate information technology with marketing and finance, for example."

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