Release Date: September 14, 2000
BUFFALO, N.Y. -- The University at Buffalo School of Management, the Institute for EntrepreneurshipSM and state Sen. Mary Lou Rath (R-C, Williamsville) announced today the launch of an Online MBA program designed for busy entrepreneurs and executives.
Developed by the UB School of Management in conjunction with the Albany-based Institute for EntrepreneurshipSM, the 48-credit, degree-granting Online MBA program features a Web-based curriculum designed to be compatible with the busy schedules of entrepreneurs and executives.
The program, which is supported by $200,000 in state funding arranged by Rath, is one of the few MBA programs in the nation that can be completed entirely online. The program is also the first of its kind within the State University of New York (SUNY) system.
"We are proud to partner with the University at Buffalo School of Management to offer this innovative program to business people around the world," said J. Felix Strevell, chairman and CEO of the Institute for Entrepreneurship.
"Together we have developed a top-notch MBA program for entrepreneurs and executives who have little or no time to attend classes or meet with fellow students, as is required by most traditional MBA programs and by many online MBA programs."
"This program is ideal for the growing population of executive road warriors, dot-com kids, global managers and others whose educational needs and lifestyles are not served by traditional, on-campus MBA programs," said Lewis Mandell, dean of the University at Buffalo School of Management.
"It is particularly suited for people employed in today's frenetic '24/7' business environment because it enables them to begin and complete courses and assignments 'anywhere at anytime,' via personal computer or laptop."
Rath noted: "The Online MBA program redefines the concepts of education and learning. The attainment of a high-quality MBA will now be based solely on skills and knowledge, and not incumbent upon the ability of a student to physically sit in a classroom -- which can be very difficult in our fast paced world.
"I am very proud to be part of this successful partnership with the University at Buffalo's School of Management and the Institute for Entrepreneurship. The Online MBA will establish Western New York as a world leader in the international education and business communities."
The Online MBA program is open to qualified applicants worldwide and can be completed within two to five years, depending on the pace of the student. At the conclusion of the program, students will be required to pass a comprehensive exam at a secured test site, after which they will have earned an MBA degree from the University at Buffalo.
Tuition for the entire program is $10,200 for New York State residents and $16,832 for others, making it one of the most competitively priced MBA programs in the world.
Mandell said the program will be "open for business" in January and expects 100 students to be enrolled by next June. He projected that the number of enrolled students will climb to 1,000 by the end of 2001.
The program's curriculum consists of 16 courses developed by UB School of Management faculty, which require completion of online assignments and exams, participation in online group projects and regular e-mail correspondence with professors. Included are courses of particular interest to entrepreneurs and overseas executives, such as courses in e-commerce and international business.
The academic rigor and admission requirements for the Online MBA program are identical to those of the UB School of Management's campus-based MBA programs and are consistent with the standards of nationally ranked business schools. The prerequisites for admission include previous professional work experience, a competitive score on the Graduate Management Admissions Test and a minimum score on a test of English language for international students.
For more information about the Online MBA program, visit the Web sites of The Institute for EntrepreneurshipSM and the University at Buffalo School of Management at http://www.nyie.org or http://www.mgt.buffalo.edu, respectively.
The Institute for EntrepreneurshipSM is a 501(c)(3) organization that serves entrepreneurs from the United States and worldwide. The Institute's mission is to bring excellence to entrepreneurs of all ages through education, innovation and access to capital, worldwide. Headquartered in Albany, the Institute provides web-based degree and certificate programs to entrepreneurs worldwide through partnerships with colleges and universities.
The School of Management in the University at Buffalo is ranked by Business Week as one of the best business schools in the country. It annually enrolls more than 3,000 students in undergraduate and graduate degree programs and offers a variety of non-credit professional-development courses through its Center for Management Development.