Women in Business

The Future is Bright!

For the last seven years Sandra Dawson has been Director for the Judge Institute of Management at Cambridge University. With the ever popularity of business studies as a degree choice for students, We asked Sandra for her own perspective on the improvements that have been made for women in business and her thoughts on the future.

1) How did you acquire your current position at Cambridge University?

I have been an academic in business schools for most of my professional life, spending the first 26 years of my career at Imperial College where I was promoted from a short-term research assistant to full Professor. I was not expecting to move but the opportunity to move arose in Cambridge and direct the business school and I found the prospect irresistible.

2) What was it that initially interested you in the study of business?

Two areas of initial fascination. One was the issue of motivation, particularly in relation to non-financial reward. The second was the basis of effective organisational design.

3) Have things improved for women in business?

We are witnessing a gradual increase in the number of opportunities for women. There are still some fairly entrenched views that women cannot be expected to rise to the top. A variety of reasons are always cited for example the difficulties of balancing domestic commitments with career progression, what are seemed to be "womanly character traits" but the basic problem is that there is a shortage of women coming into these positions.

4) What other improvements could be made?

The major issue is increasing the pool of women from whom senior jobs can be selected.

5) Have you noticed the shortage of women in any particular area of studying business? If so, where and why do you think it is?

There is a shortage of women in all the fields. Perhaps less so in organisational behaviour and most acutely in finance, strategy and marketing.

6) In your opinion, what can stop women from succeeding in business?

The same reasons that stop women also stop men succeeding. Lack of opportunity, lack of confidence and sometimes lack of ability.

7) What advice would you offer to young women who are considering studying a degree in Business Studies?

That's easy! Choose a very good programme and go and enjoy it.

8) So….is the future bright for women in business?

Extremely bright. There are lots of openings and a shortage of women to fill them.

Women in Business

Business Studies seems to be an increasingly popular choice with students today. Application from female students to study business has increased dramatically over the last decade acknowledging the large contribution that women are making today to the success of UK business.

• The number of women in management roles today has increased dramatically in the last decade.
  
  
• Many women are pessimistic about ever reaching higher levels of management in their company.
  
  
• These two statements about the opportunities for women to progress in management and business within the United Kingdom appear contradictory. Which should we believe? Ironically both are true!
  
  

Women are staking their claim in the business world, holding almost three times as many managerial roles as decades ago. Women executives are also closing the gender pay gap, lagging only 8 per cent in their salaries contrasted to 38 per cent in 1990.

According to the National Management Salary Survey 2000, released by the Institute of Management (IM) and Remuneration Economics, almost a quarter (22 per cent) of mangers today are women - a great leap from only 8 per cent in 1990. Women have also muscled their way into the boardroom to a small but growing presence of 9.6 per cent from a mere 1.6 per cent ten years ago.

In salary terms too, women managers are close to or ahead of their male colleagues. In the last year, female mangers have once again outperformed their male counterparts in the salary stakes to receive, on average, 19 per cent higher pay increases. Women mangers' pay rose by 6.4 per cent compared to the 5.4 per cent rise their male colleagues received. The latest survey shows that female directors .
received almost treble the pay increases of their male peers - a 16.2 per cent salary rise compared to 5.6 per cent.

The survey illustrates further progress for women mangers across most sectors:

• At least one woman sits on a board in each of the ten industry groups.
  
  
• Female mangers hold at least ten per cent of the top jobs in all industries, except engineering.
  
  
• Women have really made their mark in public sector where they occupy just over 40 per cent (41.5 per cent) of managerial roles.
  
  
• In the financial and business services, almost a third (31.1 per cent) of mangers are women.
  
  
• By function, women mangers in personnel are a 60 per cent majority.
  
  
• The actuarial, insurance & pensions group has also opened up to women, where they have over a half (54 per cent) of management positions.
  
  

Recent research by First Person Global reveals that many women fail to progress their career due to lack of confidence and as reluctance for self-promotion, and that 54% of women are pessimistic about ever reaching higher levels of management within their contradictory, in effect it highlights a long-standing barrier to women's success: that they are often held back by their own lack of confidence.

A key factor to help women achieve their full potential, whether they aspire to a career in management or want to set up their own business, is the support of targeted networking organisations who can provide role-models, support, coaching and mentoring to women.

Women in Management (WiM) is one of the longest established support organisations. Eleanor Macdonald, OBE, founded women in Management in 1969. Eleanor was a director of a Unilever subsidiary who, having reached the board room herself, wanted to meet and encourage other women to push for the top. It was the first UK organisation to support women executives in their careers. Initially based in and around London, WiM developed a countrywide network off branches with a common goal and interest. In 1999, WiM joined forces with the Institute of Management (IM), to provide new opportunities for IM members to address key, current workplace issues affecting both men and women. Operating as a special interest group of the IM there are currently eleven WiM Special Interest Groups that supplement the IM network of 95 branches and provide opportunities in training, development, careers support, networking and business start up advice.

WiM aims to help women at all levels achieve their full management potential and to provide support., encouragement and development. By providing positive role models and a support network that features some of Britain's leading businesswomen, WiM focuses on the issues that are affecting women today. It also seeks to increase the influence of women in public life and in the community by encouraging members to apply for public appointments, non-executive directorships school governor roles and high profiles voluntary roles.

Special WiM events include evening lectures, talk and one-day workshops on topics ranging from leaderships styles to starting your own business. WiM also collaborates closely with other networking groups and recently participated in the 'Women of the Year' award in Oxford

The importance of speaking foreign languages in the International Hospitality Business

The world gets smaller and smaller and one can reach any continent and country within a couple of hours of air-travel. This also means that people from different cultures, speaking different languages meet and need (and wish) to communicate. Previous generations wished to introduce ESPERANTA as the common language for intercultural communication; today however the trend is that all citizens of the world consider English as the International language of communication. In most countries, English is taught as the second language.

Switzerland

Depending on regions this might be different. A good example is Switzerland, since in this small country of 7 million inhabitants four national languages are spoken. It is expected that citizens speak at least two of the national languages, and English is taught from an early age. There are many other bilingual or multilingual countries in the world.

Hotel Management schools in Switzerland are also multicultural. Member schools of ASEH (Association Suisse des Ecoles Hôtelières) teach programs in English, French or German. All schools require their instruction in one Swiss national language as well as English. (list of member schools can be found at www.aseh.ch - homepage "members")

Learn and perfect a language while on internship

Students would also gain additional language skills depending upon which Swiss language region they do their paid internship. Obviously tourists come from many different countries and will always be very pleased to be greeted or helped in their mother tongue. I am sure all readers know how nice it feels to get a welcome in your own language or even dialect.

Swiss trained hospitality managers often speak four languages and therefore get employment and career opportunities all over the world.

Do not forget that the learning of another language helps to better understand foreign culture.

International Business - The Opportunity to Gain a Worldwide View of Business

There has been a recent increase in provision of business courses offering a specific international flavor, developed both in UK institutions and overseas. Indeed, universities previously offering only traditional subjects are showing great interest in this expanding and exciting field of study, with some institutions enrolling as many as 50% of business students in new international business programmes.

Numerous collaborations are taking place across universities from all corners of the globe, and Business Schools are beginning to respond to calls from employers for the promotion of a world view of business, providing the necessary skills for the increasing number of global managers now required in industry. Large organisations recruit from Europe, the US and Asia, and many US companies are specifically looking towards European Business schools to fill their recruitment quotas.

Why study International Business?

Of current importance is the development of the multinational enterprise and the impact of foreign direct investment as a vehicle for the increased globalisation of business activity. Foreign direct investment has become the fastest increasing productive unit in the UK Economy recent investors in the UK including Toyota, Samsung and Nissan. None of these multinationals are confined to solely Japanese manufacturing companies, as the impact of new global technology and information systems is leading to a wider range of opportunities. Indeed, Numura securities in the Finance section, as well as the French car company, Peugeot, provide an example of the diverse range of Multinational Business activities in the UK alone.

Further liberalisation of trade has taken place through the various round of GATT and European Union, with these trading blocs are committed towards full removal of tariff and non-tariff barriers, and allowing the free movement of labour and capital in the creation of a single market. Similar agreements are taking place within the US, Canada and Mexico, as well as Japan and the association of South East Asian Nations. All these developments highlight the importance of understanding international business in the 21^st century.

Additional Opportunities

Students also gain many other benefits arising from the study of an International Business degree, besides increased job prospects. Some of these stem from the opportunity to work on projects in cross cultural groups, learning new techniques arising from working with people with a wider range of business cultures. In terms of curriculum units, the International Business degree offers the opportunity to gain fluency in another language such as Japanese, French, German, Spanish or Italian. Particular emphasis is placed on the acquisition of a foreign language in the business context, and some institutions offer the opportunity to study two languages.

There is, however, much more to an International Business Degree than foreign languages. The study of International Business includes the development of skills whereby students learn to think in the business context of another trading nation. There is much to be learnt from how business is carried out across a wide range of newly emerging markets, as well as gaining an understanding of various business practices in the more affluent nations, including European countries, Japan and the US. A wide range of international options are available for study, including Global Environment Management, International Marketing and Global Information Technology.

The study of International Business also offers the possibility of studying and completing a work placement in another country. European funding is available to support these programs; indeed, over 60% of a poll of UK students studying business between 1991-1996 indicated the period of study abroad to be the most valuable experience of their whole degree being both character building and rewarding. Comparable academic units are chosen at a partner institutions and credits can be transferred using the European Credit Transfer System (ECTS) for those studying across Europe with other forms of credit transfer now also being developed. After completion, students can achieve a diploma or dual certificate from the partner institution, thus providing an additional qualification to the initial degree course.

Why Study International Business in the U.K?

The study of International Business is now proving to be more popular than ever before in the UK, particularly in the light of recent changes, not least the introduction of modularisation. This has led to a wide range of options becoming available, and there is now much room for flexibility. For example, International Business can be combined with subjects such as English languages, Law and IT, as well as the more traditional approach of combining with foreign languages. Further, international business can be taken with or without foreign languages, and students may choose whether they wish to take up a study period or work placement abroad.

Some universities are pioneering the development of study periods abroad taught in English, as well as providing opportunities to study in a foreign language. This is an extremely useful development for those who wish to achieve an understanding of how business is carried out across other countries, but have a limited knowledge of languages. These can also be taken up at various stages of the degree programme, providing continuous access to the development of linguistic skills. The International Business degree course can then be completed in either 3 or 4 years, depending on whether students decide to take up the Industrial Placement year. These initiatives are increasingly being developed as new and exciting opportunities arise from the opening up of trade.

What should a business education give you?

There is a strong argument that in the future everyone will need to have had a business education. Whatever you do in your professional life, the chances are that it will involve some ‘business’. Scientists, engineers, even artists, will inevitably have to understand at least the basics of business, and probably a lot more.

Today’s management gurus, the people who are forecasting the way we will do business at the beginning of the 21^st century, are saying that the companies of the future will consist of groups of specialists who work together on a specific project and then disband. For the next project the composition of the group will almost certainly be different. One of the consequences of this is that many more people will be what we call today ‘independent’, and will have to understand more about the opportunities and constraints of business.

In other words, the combination of specialist qualification and business knowledge will become vital.

But it is not just ‘knowledge’ of business. Before embarking on a business education you need to ask yourself a basic question, ‘what should a business education give me?’

Most subjects that one studies are composed of theory and practice. The important question is, where does one end and the other start? In many cases there is obviously no clear-cut answer to this.

Business is a practical subject. It sounds obvious, but it seems too easily to be forgotten.

Let me explain what I mean by this simple statement. Business cannot be compared with chemistry, physics, mathematics, law, which can be purely theoretical i.e. little or no practical work is required in order to be an ‘expert’. Business can be compared with medicine. No doctor is allowed near a real live patient purely on the basis of book study (otherwise the patient would probably not be alive for very long!).

How do doctors learn the practical skills? - they are taught by practising doctors, they make diagnoses of real situation s under the guidance and supervision of practising doctors.

Why is business a practical subject? The reason is that in business you have to DO things, take decisions, take action, monitor results. You cannot operate any business by just planning what to do on paper. Planning is, of course, an important step in the process, but there are many examples of businesses which have had excellent plans but failed because no one implemented the ideas.

So, isn’t the best way to learn about how to do business, to work in a business and learn from others? NO

In the heat of battle, and business today becomes a battle, you cannot learn to fight, there are too many day-to-day pressures, and few people have the time (or the capability) to explain what is happening and, more importantly for someone trying to learn, the reason for decisions.

The alternative is to simulate the dynamism of real business in the classroom, but without the pressures.

How can this be done?

By having people who know about business, teach business. Who knows better about business than the people actually doing business now - the successful business practitioners of today. This has been BSL’s philosophy from the start.

What does this mean in practice?

First of all, the faculty are a special breed of people. They not only have high academic qualifications, but are also current, successful practitioners of the ideas they are discussing, "What we are doing right now" is a phrase often heard in BSL. But, the thing which really makes the faculty special is their ability to teach, the skill to communicate both knowledge of an enthusiasm for a subject.

One of the important things these people know is that very few business situations will fit the textbook example. The comparison with medicine is again valid. Each situation can be described as unique, requiring its own unique solution. To be able to do this requires that people are able to analyse a situation, examine various alternatives and combine parts of solutions to solve the particular problem being faced. BSL teaches people to do this.

There are, in addition, several other aspects of simulating the real business world in the school which are important. Only a business practitioner faculty knows about these things and can correctly incorporate them into the l earning process. Business today is global. Even the smallest company is affected by happenings outside its immediate geographical boundaries. Medium and large companies are automatically involved in cross-border business. The young businessman and women needs to understand this, and, where necessary, to be able to exploit the situation. It is not possible today to teach domestic business an global or international business as separate subjects. The BBA and MBA degrees must be in Global Business Management.

In the real world of business, few people can or are expected to solve a problem by themselves. The value of multiple imputes in reaching a better solution is widely recognised. But the sharing of ideas, the acceptance of other people’s ideas, and the learning from other approaches is not always a natural process. Students must be encouraged to actively participate. Statements must be challenged by faculty and other students. Attack and defence of ideas, and the assimilation of other approaches are important parts of the learning process. The benefits gained from the participation learning approach are further enhanced by a multi-cultural student body. Students who come from literally the four corners of the world, bring with them all the advantages, disadvantages, fairness and prejudice of centuries of cultural heritage. These characteristics manifest themselves in sometimes totally different approaches to solving business problems. From all of these approaches there is something to learn. To come back to the original question, ‘what should a business education give me?’ The answer is, the tools to enable you to make an immediate contribution to global business. These tools are:

• * the ability to use the contingency approach to solving business problems, combining the best parts of several solutions into a unique and better solution
• * having a global perspective
• * working with and learning from others

The BBA and MBA programmes which offer these tools are spearheading the education of a new generation of business people.

Marketing - The Essential Business Discipline

Marketing is essential to the business world but students sometimes do not realise that they can study Marketing as a discipline in its own right. They are also often not aware that they can commence their studies at a variety of levels, including Master’s.

What is Marketing?

One of the best known definitions of marketing is that adopted by the UK based, Chartered Institute of Marketing (CIM). It defines marketing as "The management process responsible for identifying, anticipating and satisfying customer requirements profitably". Put in straightforward terms, this means that the customer’s needs and wants always have to be put first. Phrased even more succinctly, it means "no customer, no business"!

This simply concept of customer orientation has profound implications for all types of organisation. It requires firstly that organisations must continually research both customer requirements and what is going on in the external environment, including competitors’ activities. Secondly, it means that organisations must have appropriate, customer orientated aims and objectives and must plan strategically for the future. Thirdly, in order to achieve implementation of the marketing concept, appropriate organisational structures and resources must be in place. Finally, and most importantly of all, everybody within the organisation, from the Managing Director downwards must be completely committed to serving customers and to building long term, mutually beneficial relationships with them.

Some people make the mistake of thinking that Marketing can only be applied by large companies operating in fast moving consumer markets, such as food and drink. Nothing could be further from the truth. The marketing concept and marketing techniques are equally appropriate for small firms, services, industrial goods and business to business situations as well as publicly owned and non-profit organisations.

Marketing Based Courses in UK Higher Education

In the UK, Marketing has long been accepted as an integral component of higher education business courses, such as BA Business Studies, BA Business Administration, BA International Business and Master of Business Administration (MBA). Marketing is also taught within undergraduate degrees as diverse as Sports Studies, Business Information Technology, Corporate Communications, Fine Art Evaluation and Electrical Engineering.

Most importantly, within the last five years, specialised degree courses have been introduced, signalling the growing importance of marketing as an academic discipline. At undergraduate level, these courses have titles such as BA Marketing, BA Marketing Design and BA International Marketing. At postgraduate level, titles such as MA Marketing Management, MA Marketing and MSc International Marketing are common. Most master’s courses also offer the possibility of exiting with a lower level, but nevertheless extremely valuable, Postgraduate Diploma, a qualification which meets the CIM criteria for membership (MCIM) status.

A further development at postgraduate level has been the introduction of so-called ‘Pathway MBA’s’, for example the MBA (Marketing), which is an MBA with a strong bias towards marketing. Such pathway courses also offer the opportunity to achieve the lower level Diploma in Management Studies (DMS) qualification, for example, DMS (Marketing).

Many master’s courses (both MA and MBA) are offered in both full-time and part-time study modes. Most full-time master’s courses are one year in duration.

Entry to a Master’s Course in Marketing

For students who have successfully studied marketing within an undergraduate programme, progression to a master’s course in Marketing should be relatively straight forward. However, there are often many graduates of non-business disciplines who would like to study marketing at postgraduate level but who may feel inhibited from doing so, due to their lack of existing marketing knowledge. The good news is that many Masters in Marketing courses are designed flexibly and allow those with little or no previous marketing knowledge or experience to ‘start from the beginning’. That is, no previous marketing knowledge is assumed.

Such flexibly designed courses also often include the facility to credit previous learning and/or work experience, under so-called ‘accreditation of previous learning and/or experiential learning’ (APL/APEL) arrangements.

Assessment and Content of a Master’s Course in Marketing

UK master’s courses are usually assessed via a combination of coursework and examination. Coursework, normally consisting of practically based assignments and/or presentations, enables students to develop marketing skills and to demonstrate understanding. Examinations (often not a requirement of all units) allow knowledge and its application to be checked and assessed. The essential characteristic of a master’s course is that it encourages debate and critical analysis.

Typical units on an MA Marketing Management or MA Marketing course would include or be based upon, Marketing Concepts and Applications, Market Analysis (including financial appreciation), Marketing Communications, Global or International Marketing, Marketing Information Systems, Strategic Marketing Management and various optional topics, such as Services Marketing Management and Marketing Logistics. The better designed courses will also offer units on Contemporary Issues in Marketing and Marketing Implementation.

Some courses include a Consultancy Project, in which students carry out a marketing consultancy assignment for a real client in a real organisation, and have to produce a final report and presentation. The emphasis, here is on practical, implementable recommendations.

The final and essential element of most master’s courses is the Dissertation. This requires individual research into a marketing topic, usually of the student’s choice. This is a serious piece of academic research, albeit often in an organisational context. It could ultimately form the basis for further postgraduate study to achieve either a Master of Philosophy (MPhil) or Doctor of Philosophy (PhD).

Marketing Based Careers

Successful study of marketing leads to a wide range of career prospects. These include: Marketing Management, Product or Service Management, Advertising, Public Relations, Direct Marketing, Export/Import, Marketing Research and Selling / Sales Management. A large number of organisations now seek employees with marketing qualifications and knowledge.

It should be pointed out that most students thoroughly enjoy their studies in marketing and find the knowledge and skills gained to be of permanent benefit in their future careers.

Business Accreditation in the US: Simplifying the Options

If you are considering studying business in the US, there is such a wide array of post-secondary programs and institutions open to foreign students that your initial options may seem endless. However, the rigorous screening processes of national accrediting bodies like the Accrediting Council for Independent Colleges and Schools (ACICS) can give you an excellent starting point for your search.

Since 1953, ACICS has engaged in the evaluation and accreditation of independent colleges and career schools. In 1956, the Accrediting Council was officially designated by the US Commissioner of Education as a nationally recognized accrediting agency. Such recognition has been continuously renewed by the US Secretary of Education since that time, and in 1997, ACICS was given the maximum five-year grant of recognition by the Secretary.

ACICS currently accredits institutions operating in the US, Puerto Rico, the Cayman Islands, England, France, Italy, Monaco, Germany, Greece, Spain, Sweden and Switzerland. Foreign institutions seek ACICS accreditation because of its comprehensive educational evaluations and the follow-up services it provides to member institutions as they work to gain and maintain accreditation through compliance with Council standards.

Approximately 375 main campuses and 250 non-main campuses are accredited by the Council. Programs mainly include traditional business areas such as accounting, business administration, secretarial sciences and computer operations. In addition, programs such as entrepreneurship, international business, marketing, court reporting, paralegal, computer-aided drafting, culinary arts, allied health, and electronics may be offered. The current ACICS Directory of Accredited Institutions contains a summary of all programs and a listing for each location.

Credentials offered by institutions include certificates, diplomas, associate's degrees, bachelor's degrees, and master's degrees. The Council requires that all member institutions publish and clearly explain each of their program objectives and what students can expect in their chosen career field once they have completed a program of study. An ACICS-accredited institution's catalogue will give you all of the detailed information you will need to assess the programs offered at a school you are considering attending.

Through the process of accreditation, institutions and the programs they offer are evaluated and recognized for quality assurance. The Council's aim is to maintain the educational quality and the effectiveness of the private career schools and colleges which it accredits, as the accrediting process is a vehicle for institutional self-examination and self-regulation. The Council is dedicated to the 300,000 students who pursue career education at its accredited institutions each year.

Why International Business Programmes - in Finland?

The beginnings of international programmes in Finnish polytechnics reflect the internationalisation progress of higher education in Finland. After the first few years of operation the polytechnics realised that in order to participate in the EU exchange programmes that were opening up for Finland after she joined the EU, they had to offer courses in English to attract exchange students and staff. As Finland has gained a reputation as a country of high-tech innovation and people who are the first to test any new innovations, it has become an attractive alternative for not only exchange but also regular students.

An important question to ask oneself before establishing an international programme at a Finnish polytechnic is "why?" In the case of international business programmes the reasons are obvious. The globalisation of trade is a fact that should not be ignored in business education. The world is becoming one big market place. This does not, however, mean that it looks or is the same in every corner. The stands in this market place are of different shapes and colours, the sales talk has many cultural shades and the languages spoken and accents heard are numerous. An international business programme should recognise these facts and provide the students an opportunity to gain a solid basis in business skills, but at the same time offer them a possibility to acquire the language and cultural skills that have become part of professional competence in the global market place

How can all this be achieved? An international programme that has students coming from different countries and cultures offers a natural environment for young people to learn these skills in their everyday life. It is not always easy, though. There are often clashes of opinions, feelings hurt and even a few tears shed, but the bottom line always has a plus sign in front of it. Managing a programme like this sometimes feels like being a manager of a circus crew - in the nicest sense of the word.

The benefits to the individual students are obvious. Working in a multi-national environment is both fun and a rewarding experience. The personal networks that the students create for themselves add to both their professional development and to their personality. International work placement enables the students to test their skills further in a wider and more demanding international setting.

The question often raised is: "What is the benefit of these programmes to Finland and Finnish companies, on the one hand, and to the countries where the students come from, on the other?" There are many people who feel that Finnish young people who study in international programmes will only show in the "brain drain" figures, and international students will go back to their countries and also take the know-how out of Finland. Seen at a short term, this may be true to a certain extent. But the impacts of international education should not be viewed at such a short-term basis. We should realise that these young people, wherever they will find themselves on this globe, will have taken part of Finland with them and they, whether they are Finnish or represent any other nationality, are the ones who are able to create and maintain genuine business networks reaching across oceans and continents.

Studying Business & Management in France

When students choose to study business management in France they choose highly specialized and focused instruction. Of the 125,000 international students in France, 35,000 are studying business. France's universities and freestanding business schools offer more than 400 recognized degree programs that cover the full range of management disciplines and skills. Fifty universities offer degrees in management as part of their academic curriculum, as do 27 university-based institutes of business administration, 95 university-level institutes of technology, and 40 business schools. Programs are found in every major city in France. Top programs prepare students for careers at the very highest levels of business and government.

Specialized instruction in business got an early start in France with the creation of the first business school in Paris in 1819. Over the years, the content and methods of French business education have kept pace with the continual development of knowledge in economics and changes in business practices. University programs offer a wide range of professional education, from the general to the very specialized, that covers all sectors of management as well as advanced research. The very selective programs of the freestanding business schools are in close touch with the realities of business firms and the economic world. They train executives and managers to perform at the highest levels of trade, manufacturing, and services.

Excellence in teaching is assured by a faculty that maintains direct contact with the realities of business life. Most programs benefit from the participation of active managers and directors. Theoretical instruction is often provided by renowned members of the university faculty, particularly at upper levels of the curriculum. Frequent internships enable students continually to test theory against practice. Graduates thus benefit from a well rounded education that includes a strong multicultural and international dimension.

International students are welcomed. They may enter the universities and business schools at various points. Decisions concerning the recognition of applicants' credentials are made by the enrolling institution. Students are admitted on the basis of their academic record, an entrance examination, or another form of test. Students should inquire directly of the institutions whose programs interest them at least several months prior to the beginning of the program.

A variety of degree programs
The universities and schools offer a variety of degrees recognized by the French government. That recognition is a guarantee of quality and adherence to the highest international standards.

Students at universities may earn a degree of ingénieur maître (master engineer) in management, banking, or finance after just one year of general university study in business economics. Two professional degrees-the licence and maîtrise-can be earned in three or four years, respectively. Students in both the licence and maîtrise programs receive an intermediate postsecondary credential, the DEUG, in business economics.

Advanced study leading to the mastaire (5 years of postsecondary education) can take one of several paths:

• Some students specialize in a specific area of management such as marketing, finance, auditing, or human resources.
  
• Other students obtain the mastaire as a step toward a doctorate. A doctorate requires eight years of study.
  
• Still others pursue joint degree programs, earning a magistère together with one of two traditional academic degrees (a DESS or DEA).

Beginning with the fifth year of postsecondary education, most universities provide their management training in so-called IAEs (Instituts d'administration des entreprises, or institutes of business administration). The DESS CAAE degree, a general management credential that complements other nonmanagement specializations such as engineering or medicine, is a unique feature of the IAEs that is much appreciated by international students.

The freestanding business schools grant a nationally recognized diploma after three years of postsecondary study. They also offer specialized professional programs, including specialized master's degrees and MBAs, for students who have completed five years of higher education.

In some areas, business schools and universities have joined together to design innovative programs and degrees that share features of both systems.

Nearly all of the universities and schools offer a concentration on Europe, which gives their graduates a truly European perspective. For example, EAP (the Ecole Européenne des Affaires or European business school has four campuses in Europe among which students may move. France's largest business schools have spent considerable sums to attract eminent faculty that allow them to compete with top institutions like Stanford and the London Business School.

Several university and business school programs are recruiting a diverse body of international students into innovative programs taught partially or entirely in English. Students receive not only advanced management education but also an introduction to France and Europe. Most of these internationally oriented institutions belong to Agence EduFrance, a new agency formed by the French ministries of education and foreign affairs to recruit highly qualified international students into France's best degree programs. The EAP-ESCP graduate program, for example, trains students in multicultural management. The specialized master's program in industrial management at the ISGI in Lille is a bilingual program that trains engineer-managers in project management. ESSEC's MBA in international luxury brand management is taught in English and prepares graduates for careers in the prestige-goods sector, where France is a world leader.

Although mastery of French is not absolutely necessary for business study in France, a good command of the language is highly recommended as a path into other business-related areas of French higher education. Students who take the time to learn French will also gain a better understanding of French life and add yet another accomplishment to their resume-always a plus. International students may choose to learn French in their home country before coming to France to study, through the international network of Alliances Françaises around the world, at one of the Instituts Français, or at a French cultural center, club, or other institution.
It is also possible to study French in France, of course. Students can even focus on business French through short- or long-term courses in Paris or elsewhere. Many universities and schools offer intensive French-language courses of very high quality. These are described in an annual booklet published by the French ministry of foreign affairs.

The Rise and Rise of - Business Education in Cyprus

Business and Management as a field of study started in Cyprus only a few decades ago. Since then an impressive rate of growth has been registered both in number of students who are interested to study this popular area as well as in the diversity of course offerings. Some of the more plausible explanations for this phenomenal rate of growth in this particular area of education are set out below:

1. Whilst some hundred years ago the formal study of business was practically unknown management and business studies have now overrun all other fields of study in terms of student preference. That is why one witnesses a scramble for places in business departments by students wishing to earn a diploma or degree in this area with a view to enhancing their opportunities in the market place.
   
2. A cursory review of the “vacancies” columns in the Greek language papers quickly makes one realise were the opportunities for employment lie. Young men and women come across such advertisements everyday and they have thus been inculcated with the idea that without a business degree one is almost handicapped in his search for a challenging job. This is why so many young men and women with good degrees in the sciences and other “hard” subject areas feel the need for a conversion course into business to enhance their chances for employment.
   
3. Cyprus has historically played its role as a trading route and people have always been exposed to the challenges and opportunities of business. An old Greek saying, which one often hears repeated even today, loosely translates as, “you better get involved in trading if you wish to make a living in Cyprus. Otherwise, pick up your bags and go (emigrate).”
   
4. The fact that Cyprus is on the door-step of the European Union, and with full membership just around the corner, provides an impetus for many youngsters to get an education which is easily marketable and can help them get a job in any United Europe country. And here is where courses taught in English come in handy, considering the widespread use of this language in many European countries.
   

We at Philips College have taken the message and have painstakingly developed our Business and Management courses offering quality programmes aiming to meet the needs of the market. The department identified four key business studies areas and then developed market-centred quality courses, all taught in English. Results appear to support that the Philips strategy is working out well and to the benefit of the student. All these programmes blend well the development of solid analytical skills with practical applications giving the student a head advantage in terms of employability. I have the feeling that the Philips programmes, which follow below, give a good picture of what is happening in the field and can enlighten the reader as to which form business education takes in Cyprus.

The College offers the following Business and Management streams: A) The Marketing stream, which offers an integrated cycle of study reflecting the pivotal role played by the marketing function in an expanding and ever-competitive business world. B) The International Banking and Financial services stream, which aims to bridge the gap between the need for a firm theoretical training and the need for a solid grasp of the applied nature of the discipline in the context of International Financial Services. A country, which aspires to become a regional financial centre, finds such courses very helpful in its drive to secure such vital skills. C) The insurance stream was developed in response to the specific and growing requirements of such a vibrant and dynamic sector of the Cyprus economy considering the expected growth rate of this sector. D) The General Business stream offers a wide and representative sample of subjects and gives the student a good understanding of how the world of business works. In addition the College offers an MBA programme.

The future of Business and Management studies looks more and more promising as we in Cyprus enter into the new era-- the era of membership to the European Union. We believe that the peak has not been reached yet and that we all have more work to do and more programmes, with potential, to consider. Europe will begin to demand a wider spectrum of management courses which will put emphasis on issues such as bringing more harmony between business and the environment, human rights and how business can best bring about respect for the individual consumer. Equally, we expect the rise in courses which will focus on the transition away from the dependence on Government and the taking of more personal initiatives as a way to solving problems. All in all, it appears that Business and Management education can expect a bright future, full of new challenges and opportunities.

• Management and business studies have now overrun all other fields of study in terms of student preference
  
• Without a business degree one is almost handicapped in his search for a challenging job
  
• Cyprus has historically played its role as a trading route and people have always been exposed to the challenges and opportunities of business
  
• The future of Business and Management studies looks more and more promising as we in Cyprus enter into the new era of United Europe

Women Studying Business - The Benefits in America

Women’s colleges in the United States uniquely prepare women for success by offering a strong academic curriculum, professors who challenge them to excel and a network of graduates who assist them upon graduation and throughout their professional lives. Women’s college graduates are well-prepared to attain top positions in their career fields, and higher salaries than women graduates of co-educational institutions.

Notable women’s college graduates include Jeane Kirkpatrick, first female US ambassador to the United Nations (Stephens College); Madeleine Albright, the first female sectary of state in the United States (Wellesley College) and Geraldine Ferraro, first female US vice-presidential candidate (Marymount Manhattan College).

These women are among the fewer than 4% of college-educated women who graduated from a women’s college. Although small in number, women’s college graduates are influential as indicated by the following statistics from the Women’s College Coalition:

• Of ‘Business Week’ magazine’s list of the top 50 women who are ‘rising stars in corporate America’, 30% earned a bachelor’s degree from a women’s college.
  
• Of the 1992 ‘Fortune 1000’ companies, one third of women board members are graduates of women’s colleges.
  
• Of ‘Black Enterprise Magazine’s 20 most powerful African-American women in corporate America, 20% are women’s college graduates.

Undergraduate Programs
Women are earning an increasingly larger share of bachelor’s degrees in business. In 1995, women earned 48% of undergraduate business degrees, compared to 9% in 1971.

Undergraduate business programs at women’s colleges provide opportunities for women to gain the knowledge and experience necessary to succeed in the business world. High-quality programs are grounded in a liberal arts education, allowing students to adopt a broad perspective, think critically and creatively, use new technologies, interact with people from diverse ethnic and socio-economic backgrounds and refine their leadership skills. Courses explore topics of, by and about women.

By participating in campus and community organizations, students apply the theories they learn in the class-room to real-world situations. Business internships, which place students with employers such as Andersen Consulting and Paine Webber for a limited period of time to gain experience and supplement their education, are invaluable. A college’s career service office helps students locate top internship and career opportunities as well as professional and graduate schools.

Continuing Residential & Graduate Programs
Many women’s colleges, in addition to their residential programs for women, offer continuing education and graduate programs designed for both men and women who maintain full-time jobs in addition to family and community responsibilities. Both undergraduate and graduate students have close contact with their professors, and course formats are designed to fit their busy schedules.

Flexible formats may include independent, guided study, on-line courses, on-campus classes in the evenings, on weekends and during the day, and short-format courses. Credit is often given for prior learning experienced outside the classroom, while external degree and Internet-based programs allow students to earn a degree from a quality institution without having to relocate or leave their jobs.

Women and men studying business at graduate level may enrol in an accredited Internet-based Master of Business Administration Program, with emphases on topics such as entrepreneurial business or management. Regardless of where the students live, they can complete all of their coursework, and converse with their professors and fellow students over the Internet.

In 196, women owned one-third of all business in the United States, according to the National Foundation for Women Business Owners. The foundation reports that since 1987 the number of women-owned US businesses grew by 78% to reach 7.95 million in 1996, outpacing the 47% growth rate for all US firms during this same period. In 1996, women-owned businesses generated $2.28 trillion in revenue, and employed 18.5 million people, representing 26% of the US workforce.

With a significant and growing segment of the business world being filled, managed and owned by women, a business degree from a high-quality institution becomes invaluable.