Saint Mary's College



23749000School of Economics and Business AdministrationMaster of Science in ManagementProposal for Provisional Approval(10/30/2015)Contact Person: Yung-Jae Lee, Associate Dean of Graduate BusinessFaculty Task Force Members: Natasha Munshi (Chair), David Bowen, Dana Herrera, Nancy Lam, Andras Margitay-Becht, Wenting Pan, Judith White, Claire Williams---------------------------------------------------------------------------------------------------Master of Science in ManagementContextThe Saint Mary’s Master of Science in Management (MSM) Program is designed to meet the needs of pre-working non-business undergraduate majors, who are looking to excel in managerial roles in the for-profit sector (e.g., creative industries, professional services, management consulting, marketing, and new product development), the non-profit sector, as well as founding their own business ventures. In 2014, the Financial Times global rankings of MSM programs listed the top 10 ranked programs as European-based, with no US schools making it into the top 100 list. A 2014 Forbes news article notes though that in the past two years, US-based MSM programs have slowly gained momentum as an alternative to MBA Program for students with limited work experience precisely because the program is designed to assist such students gain meaningful professional employment. The MSM program, therefore, targets a distinctively different market segment; most MBA programs require at least 2 years minimum work experience, which creates a substantial entry barrier for inexperienced students. Several top US Business Schools – notably, Duke, Northwestern, University of Michigan –?have added MSM programs recently with great success, proving that there is enough demand for such practice-oriented programs in the US. SMC has the potential to be an early mover in Northern California with its innovative program design.OverviewThe Saint Mary’s MSM Program has been designed with a single goal of assisting liberal arts, science, economics, and other non-business undergraduate students to gain meaningful employment by providing one additional year of practical graduate-level management education on top of their liberal arts education. This is very closely in line with the College’s 2015-2020 strategic plan in which “preparing students for meaningful personal and professional lives” is listed as one of the core values.a. Fit within the Mission of Saint Mary’s CollegeThe MSM Program is also designed to be a student-centered program in that the program is focused on enhancing incoming students’ analytical, managerial, and communication skills and guiding them to meaningful and sustainable employment. This is consistent with SMC’s mission to develop the whole person, academically, spiritually, and professionally. The program will also emphasize the importance of critical thinking and communication skills, the hallmarks of SMC’s liberal arts tradition. b. Fit within the Strategic Plan of SEBALaunching MSM Program is also consistent with the College’s academic blue print in which the College outlines sustained growth through development of new graduate and professional programs. Introducing new programs in a timely manner is critical for continued revenue growth by SEBA because the competition for our traditional MBA/EMBA market is increasingly intense with new entrants coming to the Bay Area market constantly. The MSM Program is very much in line with the strategic plan of SEBA’s continued growth with diversified portfolio of degree programs with minimum cannibalization. c. Program Learning OutcomesThe five learning outcomes of the MSM program outlined below reflect the strategic foci of SEBA and Saint Mary’s Institutional Learning Outcomes (ILOs) for graduate programs. Graduates of this program will be able to: Understand business as an integrative process in a global context This learning outcome is aligned with SEBA’s strategic foci on global and responsible perspectives as well as Saint Mary’s graduate ILO area of learning around “engaging the world.” The curriculum includes a 2 week long immersion in a Pacific-Rim country with close ties to the Bay Area community with an international field project course aimed at building students’ global competencies around the “social, cultural, economic” perspectives in diverse cultural contexts. Furthermore, through the international field project as well as the local field projects and internship opportunities, this learning outcome also aligns well with another ILO of “applied learning” by providing students with an opportunity to think critically and creatively, and be problem solvers who can apply the know-how learned during their courses, in a practical, real-world international setting; additionally, by achieving these learning outcomes, students will be able to demonstrate that they can analyze and reflect on the insights and key takeaways from these practice oriented activities. Understand how various functional areas operate and interrelate This learning outcome is aligned with the ILO primary area of learning around “integrating specialized and broad knowledge,” with the curriculum’s focus on business fundamental courses - economics, finance, marketing, and accounting - that will provide a broad based understanding of how these areas relate to each other within the field of management, while also providing specialized know-how of the most relevant theories and approaches to inquiry within each of these fields. In addition, through courses like leadership, managing teams, and creativity and innovation, they will also demonstrate an understanding of the role of managers in interrelating the various business functions in an organization and working in team settings. (3) Perform commonly used quantitative analysis and communicate data analytics into actionable business decision-makings This learning outcome is aligned with three ILO primary areas of learning around “integrating specialized and broad knowledge, advanced skills, and applied learning” as well as SEBA’s strategic focus on critical thinking and analytical skills, as students successfully master the ability to leverage the core competencies acquired in courses such as spreadsheet modeling, data analysis and visualization, and statistical data analysis, in field projects where they will be able to demonstrate the use of and application of quantitative methodologies to real-world practical problems.(4) Demonstrate communication fluency, creative problem solving, and shared inquiryA student graduating from this program will demonstrate competencies in oral and written communication skills, and shared inquiry, as required in the “advanced skills” ILO for Saint Mary’s Master’s degrees. Students will be able to demonstrate their communication fluency through the business communications and business idea competition courses, as well as their written case analyses for the field projects. Students will demonstrate critical thinking and shared dialogue with peers through their team-based activities in the field projects and course assignments.(5) Identify and analyze potential ethical business issues and their consequences to society. Integrating SEBA’s focus on responsible leadership and the ILO area of learning around “common good,” the student will leave this program with an ability to investigate into the ethical and socially responsible issues facing managers and companies today, as well as analyze behaviors that business organizations can undertake in order to solve society’s economic, social, and environmental issues.d. Program of StudyThe curriculum has been developed to help students graduate with these five broad learning outcomes. Each module building on the preceding module’s learning outcomes, culminating in the final two modules in which students are provided the opportunity to showcase these learning outcomes in practice, in their field projects and internships. The courses will be taught to liberal arts students at an appropriate level.The program is cohort-based one-year full-time program with traditional face-to-face classes offered on campus. The planned launch date of the program is Summer Quarter, 2016. In this program, students will be provided with a solid foundation in business fundamentals with courses in economics, accounting, finance, and marketing. In addition, students will be given the core competencies to analyze data and use it to make sound managerial decisions. These courses include spreadsheet modeling, data analysis, data visualization and storytelling, business analytics, process analysis and supply chain management. Students will build the critical interpersonal and collaborative skills (sought after by recruiters) in courses such as business ethics, leadership, managing teams, business communications, creative thinking and innovation, and a business idea competition, where student teams will get a chance to hone their oral communication skills by presenting their ideas to a panel of industry experts. Through required professional development and career management training workshops, students will accrue invaluable knowledge on how to manage their job search and career trajectories.In addition to theoretical knowledge, students will also gain meaningful real-world experiences; the practicum experiences will include an internship with a Bay Area organization and two faculty-supervised field project courses, in which students will be co-mentored by Saint Mary’s Executive MBA alumni and current students. In addition, students will have a field project-based International Business course, in which they will have the opportunity to learn about business practices in a foreign country with close ties to the Bay Area economy. The following bullets provide summary details of the program design.The program of study will be offered over 8 ‘modules’ or half-quarters; each module is 5 weeks long; there will be a week’s break between each module (taught through Summer)In small classes with a low student to professor ratio, students will go through the program, attending 3 courses a week (e.g., Mon-Wed), per 5 week moduleEach one credit course will comprise 22.5 contact hours (4.5 hrs. per class session x 5 weeks)Each class session will be 4.5 hours long with a break, and offered during weekday, evening time frames to account for classroom space issues as well to attract industry leaders as guest lecturers During the required 2-week international business project in March (4 quarter credits), students will work on a field project for a company based in an international location; this course is included in the tuition (excluding the cost of airfare) Two 5-week long field projects (4 quarter credits each) in the Bay Area, will be offered over the last 2 modules of the program; additionally, a 10 week internship may be provided, based on availability and gradesThe program will offer 5 half-day required professional development and career management workshops through the office of career services for graduate business programsThe course schedule for the MSM Program is provided below.Summer Quarter Fall QuarterWinter QuarterSpring QuarterTRACKSModule 1Module 2Module 3 Module 4Module 5Module 6Module 7 (5 wk.)Module 8 (5 wk.) (5 wk.)(5 wk.)(5 wk.)(5 wk.) (5 wk.)(5 wk.) (5 wk.)(5 wk.)CORE COMPET-ENCIESSpread-sheet ModelingData Analysis 1Data Visualization & Storytelling(Tableau)Data Analysis 2Business Analytics (Coding)Supply Chain/ Process AnalysisField Project 1Field Project 2INTERPER-SONAL AND COLLABOR-ATIVE SKILLSBusiness Communica-tionsManaging Contempor-ary Organiza-tionsLeadership & Managing TeamsEthicsCreativity and InnovationBusiness Idea CompetitionInternational Business Project*BUSINESS FUNDAM-ENTALSEconomicsFinancial AccountingManagerial AccountingFinance 1Finance 2Marketing *The International Business project will be part of Spring quarter, 2016. It will comprise 45 contact hours over 2 weeks in totalCareer Programming (Co-Curricular)Students are also expected to participate in all the career programming workshops and events specifically designed for MSM Program and students are also required to attend Professional Development Program available to all SEBA graduate students throughout the program. PDP offers professional development workshops (e.g., negotiation, managing teams, and interviews) to enhance student’s potential to advance their careers. This is a co-curricular component of the Program and does not constitute a course.Admission CriteriaThe MSM Program targets liberal arts, science, economics, and other non-business undergraduate students with less than one year of work experience. In order to ensure uniform standards for comparison across applicants, and be in line with entrance requirements of other MSM programs, we will have the following application requirements: a. Bachelor’s Degree b. GPA (3.0 or higher is desirable but not required as there might be variations based on schools as well as majors) c. GMAT or GRE test - a standardized test allows for a uniform basis for comparing students with diverse backgrounds on their quantitative and analytical capabilities and d. TOEFL or IELTS score for international students whose primary language is not English. An interview process will also be part of the admission criteria. Note: while enrolled in this intensive program, students should not work in full-time jobs that require more than 20 hours/week.e. How does MSM Program build on existing programs and resources?Although MSM Program has many innovative features, it is still a graduate level management program for which the SEBA can draw from the experiences of running PMBA and EMBA Program. SEBA faculty also has expertise in delivering all the courses in the program.f. Effect on Other Programs Although it is hard not to have any cannibalization when a new program is launched, we do not believe that there is much overlap with our current graduate programs, especially PMBA Program, in terms of target market because Masters in Management Program does not require work experience while the PMBA Program requires at least two years of work experience. g. Faculty Involvement and Faculty Resources Since the program idea has been first introduced in SEBA Graduate Program Committee, virtually all faculty teaching for various graduate business programs have been involved with the design of the MSM Program. In addition to the core SEBA faculty, we have engaged several faculty members from other schools at the College to serve the task force. The faculty task force members include Natasha Munshi (Chair), David Bowen, Dana Herrera, Nancy Lam, Andras Margitay-Becht, Wenting Pan, Judith White, and Claire Williams. In addition, Aaron Sachs and Matthew Zapruder provided their feedback in the capacity of faculty consultants to the task force. We have also incorporated inputs from several SEBA staff members because of their expertise in various areas such as career services, marketing, and recruiting, and alumni services. The contributed staff members include Craig Kaufman, Sherry Platt, Tammy Soulsby, and Jennifer Leinbach.Although the program’s home department is Management, the program is interdisciplinary in that it will draw faculty resources from other departments including Accounting, Finance, Marketing, and Mathematics. In spite of available faculty resources, we do need to hire a tenure track faculty with expertise in Data Science, Data Analysis, and Data Visualization because deploying a tenure track faculty on those areas is critical for the successful delivery of the program. There is also a need to hire faculty in Business Communications, as this is one of the main goals of this program. Because the program is cohort based, there is no course sharing with other graduate business programs. Also, hiring a qualified tenure-track faculty member is essential to meet the AACSB requirement for the Program. h. Assessment Due to its concerted efforts to obtain the AACSB accreditation, the SEBA has developed the culture of assessment. In addition, SEBA needs continuous assessment of all the programs in order to ensure the reaccreditation. The new program MS in Management will be treated exactly the same as all other graduate business programs in that the program learning outcomes will be assessed in an ongoing basis. The new program director of MS in Management, along with the program faculty, will lead the timely completion of the necessary program assessments. Below is the curriculum map that shows where each of the program learning goals will be assessed:Course No.COURSE TITLEGOAL 1:GOAL 2:GOAL 3:GOAL 4:GOAL 5:GOAL 6:GLOBAL CONTEXTINTEGRATING FUNCTIONAL AREAS OF KNOWLEGEQUANTITATIVE ANALYSISBUSINESS DECISION MAKINGCOMMUNICATIONS AND SHARED INQUIRYETHICS401Spread-sheet ModelingTTTT402EthicsAATTTA403EconomicsTTTT404Data Analysis 1TTTT405LeadershipTTTT406Financial AccountingTTTT407Data Visualization & StorytellingTTT408Managing TeamsTTT409Managerial AccountingTTTT410Data Analysis 2TATTT411Business CommunicationsTTTAT412Finance 1TTTT413Business Analytics TTTTT414Creativity and InnovationTTTTT415Finance 2TTTT416Supply Chain/ Process AnalysisTTTTT417Business Idea CompetitionTATTTT418MarketingTTTTT419International Business TATATTTT420Field Project 1 TATATTTT421Field Project 2TATATATATT T = where relevant content is taught A = where the relevant learning goal is assessedPending approval by GPSEPC, the program assessment will be done during the first iteration in the academic year 2016-2017. The result of the assessment will be reviewed by the program faculty and inform any curriculum adjustment necessary for the second cohort. After that, the program will be assessed according to SEBA assessment plan for all programs to be ready for AACSB reaccreditation. The MSM Program will also go through 6-year program reviewed process according to PRC guidelines.i. Library Resources (provided by Sarah Vital, Business Librarian)Because all the MSM courses are derived from other SEBA Graduate Programs, we do not need significant MSM specific library resources. The detailed library resources review is provided at the end of this proposal.j. Full Proposal Submission DateWe are planning to submit the full proposal of MSM Program after 2 years of pilot operation, which is during the academic year 2018-petitive AnalysisMasters of Science in Management, which is also called Masters in Management (MiM) or Master of Management (MoM), is relatively new degree in the US; hence the market is not as competitive as the matured MBA market. In fact 2014 Financial Times ranking of Masters in Management does not include any US schools. In the Bay Area, no school is offering MiM or MoM. However, a few leading business schools have recently started to offer MiM or MoM programs, the most prominent three of which are provided below.?SMCNorthwesternDukeU of MichiganDuration1 year10 months10 months10 monthsFormatFull-time eveningFull-time day Full-time dayFull-time dayNumber of Courses18 half-quarter courses and 3 full quarter field study courses9 core courses and 3 electives15 courses14 coursesElectivesNoYesNoYesTuition$29,700 $48,000 $48,900 $49,510 Hand-on Projects?YesNoNoNoOther FeaturesLocal &International field study courses, InternshipsInternational travel courseInternational travel course,Case study events, internships, Company visitsInternational travel course as one of electives, Boot campCareer Programming YesYesYesYesAs can be seen in the table above, all programs have less than one-year duration. Most schools offer 15 or fewer courses, with the exception of SMC, which offers 18 courses plus three experiential learning field study courses. Both Northwestern and University of Michigan offer electives while SMC and Duke offer lock-step program. All schools offer international travel course as one of the courses except University of Michigan, which offers international travel course as an elective. University of Michigan offers a boot camp while the other three do not. Advantages/Differentiations of the SMC ProgramOur program delivers value: robust coverage of the discipline and topics with lower tuitionOur program is the most contemporary and innovative with courses such as data visualization & story telling and business idea competitionOur evening program format allows students to work up to 20 hours per week or intern during day times and thus reduce opportunity costs to studentsOur program offers more extensive quantitative courses with a stronger emphasis on communicating the results of quantitative analysis. This enhances student’s chance to be employed by major corporations that are increasingly looking for candidates with strong quantitative preparationsOur program is unique in that we offer both local and international field study courses during the last quarterFaculty ResourcesThe program is interdisciplinary in that it will draw faculty resources from various SEBA departments including Accounting, Analytics, Finance, Management, and Marketing. To successfully launch the program, it is necessary to hire a tenure track faculty with expertise in Data Analysis and Data Visualization because of the heavy emphasis on analyzing data and presenting the outcome of the analysis. Because the program is cohort based, there is no course sharing with other graduate business programs. Also, hiring a qualified tenure-track faculty member is essential to meet the AACSB faculty sufficiency requirement for the Program. The hiring process should start immediately so that the new faculty member is ready by the start of the academic year 2016-2017.Business Plan with BudgetThe program tuition of $29,700 for this one year program was determined based on a benchmarking analysis (average US-based MSM program costs $43,000), focus groups run with SMC undergraduate students from a range of liberal arts disciplines, as well as a desire to provide a high quality program at an affordable price point. In addition, we have also decided to keep the initial tuition at least for the three years, so that we continuously provide affordable and competitive tuition until the program gains strong reputation in the local market. To provide adequate program related services to students and coordinate real life projects with companies for the program’s Practicum course, we also need to allocate a half time equivalent staff member. Due to its innovative program design with a clear focus on practicum-based experience, we expect the program to perform reasonably well financially. The three-year budget projection for the program is provided as follows, with the assumption that faculty will teach this program as overloads.3 Year Financial ProjectionsAssumptionsYear 1Year 2Year 3Number of Cohorts111Number participants per new cohort151820Program Tuition$29,700$29,700$29,700Number of Units484848Tuition Revenue$445,500$534,600$594,000??Faculty & Staff Expenses?Salary for One New Faculty (12 5-week course equivalents)$100,000$100,000$100,000Faculty Overload Cost (12 x 5,000)60,00060,00060,000Director: 1 Course Release8,0008,0008,000Additional Staff Member (1/2 time)30,00030,00030,000Benefits for Program Faculty and Staff (31%)61,38061,38061,380Subtotal Faculty & Staff Expenses$259,380$259,380$259,380?Operating Expenses?Room Rental (Moraga Campus)$0$0$0Instructional Material Cost ($1000 x 21)21,00021,00021,000Marketing & Recruitment030,00030,000Marketing & Recruitment - Provost Supported30,00000International Travel Course Cost ($3,000 per student)45,00054,00060,000Program Initiatives/Student Services10,00010,00010,000Student Scholarships30,00035,00040,000Subtotal Operating Expenses$106,000$150,000$161,000??Total Expenses$365,380$409,380$420,380??Net Contribution$80,120$125,220$173,620Net Contribution as % of Gross Revenue17.98%23.42%29.23%Review of Library Resources and Information Literacy on New Graduate-level Program: Master of Science in Management (MSM)OverviewThe Saint Mary’s College Library actively supports the School of Economics and Business Administration through the acquisition, collection, arrangement, storage, and accessibility of the materials and information needed for study in the discipline by students and faculty. The librarian works closely with the departmental liaison to identify individual items or general themes of material to collect. The librarian assists students develop information literacy skills through in-class presentations, online tutorials, and individual reference appointments.Books and VideosFor the 2014-2015 budget year, minus the amount encumbered for continuing resources, the business materials allocation is $24,333; this amount is used to purchase new monographs, e-book packages, reference material, and videos in various topics to support the current undergraduate and graduate Business Administration, Accounting, and Economics curriculum.The proposal for this program seems to cover many of the same topics as the undergraduate and graduate Business Administration curriculum, all of which are covered adequately in the current collection and collection acquisition strategies. Scholarly Literature and Electronic ResourcesPeriodicalsCurrently, we subscribe individually to 93 business-related periodical titles. The titles listed in Albert reflect only those titles and not the 11,449 additional titles in the area of business that are incidentally included in our subscriptions to licensed electronic databases. Specifically, over 2,000 titles in the field of management are accessible via the Library’s subscription databases. Many of the most popular professional titles, such as Wall Street Journal and Harvard Business Review, are available electronically, increasing accessibility for busy graduate students who may not be on campus as often as traditional undergraduates. Electronic ResourcesThe Library subscribes to over 208 electronic databases. We break down our numbers into major subject areas or disciplines, and 26 resources are classified as “Business.” The resources particularly useful for the coursework in and study of business includeFor periodical literature:ABI / Inform (includes Wall Street Journal)Business Source Premier (includes Harvard Business Review)Business Abstracts (with full-text)Emerald EconLitFor data, analysis, and reports:Mergent Online (public company data)Mergent Intellect (private company data)Euromonitor’s Passport GMIDIBISWorldStatistical Datasets (Data-Planet)Mintel ReferenceUSA (including OneSource)The Conference Board Business & Economics PortfolioStandard & Poor’s NetAdvantageKey Business RationsPlunkett Research OnlineMorningstar Research CenterThe students in the MSM program may not need as much access to these specialized data and analysis programs, but if they do, they are available and the librarian is happy to assist students learn the ins and outs of the resources probably unfamiliar to them in previous degrees or work experience. The Mergent products in particular are a useful tool for transitioning from freely accessible web resources to those tools used in the professional world. Information LiteracyAACSB Accreditation Standard 15 states that the learning experiences of the college business curriculum should include such areas as communication abilities, ethical understanding and reasoning abilities, analytic skills, use of information technology, and reflective thinking skills. Searching for, retrieving, evaluating, and using informational sources is a vital learning outcome, and one the Business Librarian is ready, willing, and able to assist with. In addition to the traditional guest lecture, the Business Librarian is available to be involved further in the development of assignments and projects to best incorporate information literacy, and in creating alternative means of instruction, such as online tutorials or learning modules.With Information Literacy additionally identified as one of WASC’s Five Competencies for High Education, as well as the College’s own Institutional Learning Outcomes for the Master’s Degree, faculty will want to insure that Information Literacy is fully integrated into the new program’s curriculum. I would be happy to collaborate with faculty toidentify courses and assignments appropriate for Information Literacy Learning Outcomesprovide library instruction for those coursesdesign assessment for those learning outcomes.The current Graduate Business programs do not have a formalized plan to meet this information literacy needs. ConclusionTo this point, library resources are meeting the needs of business student research, and we are thrilled to offer access to so much professional and academic periodical literature. We’re additionally thrilled that so much monographic and video content is able to be purchased via e-collections, increasing our collection size vastly beyond what our walls can hold and individual title purchase power can afford. But moving into the future, acquiring new resources will remain a challenge. The College’s 10 year commitment to increasing the Library's materials budget (in accordance to a WASC recommendation) has elapsed, and we are unsure of increases in the future. Even at the end of the 10 year plan, the library budget was still limited and could not meet all of the demands. This is particularly clear in business, where the resources requested are often very expensive electronic databases. Over half of the business resources allocation (60%) is already committed annually to continuing resources to support the needs of the program, reducing the amount of available funds for new books, reference books and media.? Inflation of these large ongoing subscriptions is unpredictable, and can cause further reduction in available funds. A tipping point nearly reached, after which almost no new books, reference books and media can be selected. Additionally, while e-book collections are an economical way to expand our collection, individual electronic books cost about 35% more than print equivalents, further reducing our buying power within our limited budget. Though these conclusions do not diminish the capacity for the library to support this program on “opening day,” this is important to note for future growth and development as well as continued support at the level that is currently enjoyed. Regarding information literacy issues, the librarian will contact the department to discuss how information literacy objectives can be introduced in the courses to satisfy the College’s Institutional Learning Goals for this new program.Respectfully submitted,Sarah VitalBusiness LibrarianJune 11, 2015The signatures below indicate approval for the proposed degree program named above on a Provisional Basis._____________________________________________________________________Dean of SEBADate_____________________________________________________________________ProvostDate_____________________________________________________________________Vice President for FinanceDate_____________________________________________________________________Chair of GPSEPCDate ................
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