A demanding business

October 2004

Monash University has offered graduate programs in business since its earliest days. But a new era demands new solutions - and this year the new Graduate School of Business was created to act as a focus for all the university's graduate business programs, writes Greg Hywood.

Management studies is one of the most competitive disciplines in the academic marketplace. Arising from the huge demand for management training that accompanied the deregulation of the Australian economy in the 1980s, universities around the country now offer a plethora of MBAs.

Professor Gill Palmer

But while the MBA continues to be highly valued, both individuals and companies are looking at more specialised business training to suit their particular requirements. This had led to some innovative thinking on how to meet the needs of a more demanding business studies market, which means the idea of a separate business school is now less appealing.

A serious rationalisation of the industry has resulted and while some institutions have responded by joining forces, Monash University's Faculty of Business and Economics decided on a different, and bolder, approach.

Faculty dean Professor Gill Palmer believes that Monash can most effectively compete in the graduate business market by leveraging its mix of quality and size to deliver qualifications to its students that are specific to their career requirements.

The result is the creation of the Monash Graduate School of Business, headed by its recently appointed founding director, Professor Owen Hughes. The concept is unique in that a wide range of specialist masters degrees offered by the faculty will now sit alongside the high-ranking MBA.

"It is a different kind of business school, combining excellence with diversity," Professor Hughes says. "Within the limits imposed by each course, it is possible to combine units across departments and programs within departments, allowing substantial choice.

"With Monash's reputation, its global recognition and relevance and the outstanding staff of the largest business faculty in the nation, the graduate and postgraduate courses the school offers are of the highest standard."

The Doctor of Business Administration (DBA) is one of the higher research degrees offered by the faculty. The DBA is ideal for those students wanting to research their area of expertise in depth, but who do not want to do so using the methodology of a normal PhD. Students are able to research their specialisation to improve their professional practice while also undertaking relevant coursework.

Professor Owen Hughes

Professor Hughes says the school appeals to many international graduate students, who are seen as a long-term asset.

"International demand has been growing faster at the graduate level than at the undergraduate level, but more needs to be done to improve the quality of the overall experience for international students - more investment in language programs, in cross-cultural awareness programs and in training staff," he says.

Overall, the school aims to produce leaders and critical thinkers, people committed to making a difference, and those who work to benefit the community as well as themselves, Professor Hughes says.

Greg Hywood (BEc 1975) is a consultant to the Victorian State Government, marketing strategist, newspaper columnist and former editor-in-chief of The Age newspaper.

Action
For more information, contact +61 3 9903 1400, visit the Monash University Graduate School of Business or email gsb@monash.edu.au.