Jack Welch Sees New Niche in MBA Programs
Jack Welch, the former CEO of General Electric who is a living legend in the business world, is hoping to give traditional business schools a run for their money with his online MBA program. Welch recently announced that his Jack Welch Management Institute would be acquired by Strayer University, an online network of schools.
"The world is going this way," Welch was quoted in CNN Money as saying. "The thing about the online school is that the student doesn't have to pay the opportunity costs of quitting a job and yet still gets a recognized brand MBA."
Welch says he plans to enroll 5,000 MBA students by 2016. "It's very doable," he said.
In addition to the typical two-year, full-time MBA degree, Welch sees certificate programs in business as an attractive option for busy managers and executives. "The decision [to earn a certificate] is much easier," he says in the CNN Money story. "It's only $2,400. It's a six-week commitment. The MBA is a deeper two-year commitment and a family decision."
Welch's institute currently offers certificates in "Becoming a Leader" and "Creating a Winning Strategy," and he plans to increase that offering to a dozen programs within three years, with core courses as finance and marketing, as well as industry-specific programs in a number of areas including health care.
