These are changing times for global trade and economies across the world. The power of developed nations has been passed on to quite an extent to emerging economies like China and India, the former being particularly important.
And yet, despite the shift of economic influence towards the Asian giant, preference for overseas higher education amongst Pakistani students has not shifted towards these countries yet. Four Chinese business schools are in the top 50 schools according to Financial Times Global MBA Rankings 2012, while six are in the top 100. Two Indian business schools are in the top 20 in the same rankings.
For the development of effective human capital locally, the importance of being educated in these growing markets cannot be stressed enough. And thats why Dignosco, a social enterprise that focuses on creating human capital in Pakistan, has convinced the China Europe International Business School (CEIBS) to expand the sphere of business education to students in Pakistan as well.
To date, the school has only accepted a single Pakistani student and that too through Dignosco. Talha Amjad pursued his MBA from the CEIBS, and shares quite positive comments about his experience.
"Dignosco guided me to move out of my comfort zone and learn business skills in a completely new environment... All the major companies across the business landscape like IBM, GE, Honey Well, Monsanto etc... that are downsizing in EU and US are exponentially growing in China. With this growth, CEIBS is right at the centre of this economic activity," says Amjad.
Whats further remarkable about the programme is its relatively lower costs compared to fees for top MBA programmes from other well-known schools. Amjad claims that CEIBS, which is ranked number 24 in FTs Global MBA rankings, is the only MBA programme in the top 25, which offers a scholarship of around 50-100 percent to roughly half the class.
"Cost was half of the standard at any one-year top MBA around the world and was reduced to about 20,000 dollars through scholarship," he further explained.
The strengths of this MBA programme are its mission to teach about the Chinese and global economy integrative, as well as a strong faculty having experience across the Chinese business landscape. An economics professor there is Chinas main economic advisor, while the mayor of Shanghai, governor of Beijing, and CEO of Ali Baba - a global e-commerce company are all distinguished alumni.
Dignosco has initiated a strategic collaboration with this top B-School of China to try and increase business links and potentially hold a Pak-China business summit along with sessions for informing Pakistani students about the programme and the school.
"Almost all trade corridors in China are linked through CEIBS, and good business schools are the gateway into the business community in any country. Creating liaisons with Chinese business schools, such as CEIBS, is a surefire way of increasing networking opportunities with business leaders of this emerging economy. Education also exposes you to the culture of a particular country and how business is done there, so this can be a great opportunity for Pakistani graduates," Ataur Rahman, CEO of Dignosco explains.
This is an English-based programme so language shouldn be an issue, while students are also taught Chinese to help them through their stay in the country. The typical profile of a student who can get admission here is someone with an excellent academic record, as well as five to 10 years of sound work experience.
All in all, this is a strong indication that the academic sphere of Pakistan also needs to be moulded according to the changing global dynamics. And the sooner local students, academia domestic industries realize this, the better.
Having said that it is a welcome step that youth-led private enterprises like Dignosco are coming up with innovative solutions to create targeted human capital in Pakistan.
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Top Business Schools in India and China
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Business School 2012 Rank
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Hong Kong UST Business School 10
Indian Institute of Management, Ahmedabad 11
Indian School of Business 20
China Europe International Business School (CEIBS) 24
Chinese University of Hong Kong Business School 28
University of Hong Kong 37
Peking University: Guanghua 54
Hult International Business School 65
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Source: Financial Times