Top 5 differences between an MBA and an Executive MBA. Which one is better for you?

Pursuing the master’s degree is a big decision in many people’s lives. Choosing which programme will be most beneficial for one’s career development can be nerve wrecking too. Because there are choices – too many choices! For example, one might decide to go for an MBA programme, however, there is a choice to pursue an Executive MBA (EMBA) too! As an aspiring student, which one should you choose? Let us explore the differences, pros and cons of both so that you can make an informed decision. 

1. Admission criteria 

One of the foremost differences between an MBA and the EMBA programme is the admission criteria. For most of the MBA programmes minimum experience required varies between 1-3 years. Sometimes, even fresh under-graduates can also apply for MBA programmes given a good academic record.  

On the other hand, an EMBA typically requires candidates to have on average 3 to 6 years’ work experience with at least 2 to 5 years of managerial work experience. Our current MBA students and alumni for example, possess on average 5 to 10 years of work experience, holding leadership and management titles in companies such as risk and quality managers, heads of sales, senior corporate trainers, marketing directors, lawyers, consultants, politicians and diplomats, company presidents and CMOs. 

2. Pace of study 

The MBA programmes are typically pursued on full-time or on-campus basis, and have very demanding schedules. They have more traditional and rigid course structures. An EMBA on the other hand, offers a more flexible study schedule, and are typically delivered in blocks (weekends, once a month, etc.) or online. The majority of the EMBA students are working professionals with busy work schedules. Thus, to optimize their time, EMBAs offer lecture sessions at rarer, but more intense intervals than their MBA counterparts. When done online, these really put flexibility at the forefront. 
 

3. Intensity of the programme 

While both programmes focus on the same core modules, the degree of intensiveness in both varies. For the EMBAs, I will use an analogy of a multi-vitamin supplement – a power packed mix of various vitamins all together in one. Similary, EMBAs are intensive, and one should be ready to absorb a lot of knowledge in a short period of time.  

A regular MBA programme however, spreads the modules over a period of time. The course material is widely distributed and thus is comparatively less intensive than EMBAs. 

Group of students at the Residency in Zurich (At the moment we are conducting Online Residency in light of Covid-19 restrictions).

4. Curriculum and focus 

In an MBA programme, since it accepts candidates with fewer years of experience, the focus is on teaching and developing management knowledge from the basics. It has a broader choice available in terms of the electives that a student can choose from. An EMBA programme, however, has a higher bar set in terms of experience from its candidates. While some of the core modules are same as an MBA programme, an EMBA programme has a more focused approach.  
 

Celebrating our Graduates – University of Cumbria

5. Financial implications 

An EMBA wins over an MBA programme any day when we talk about financial implications of both. Firstly, an EMBA candidate can continue their day jobs and get paid to support their education. MBA programmes with full-time study schedules make it more difficult for students to continue with their jobs. Secondly, since a large portion (or in our case, all of the programme) is studied online, one saves a huge amount of money in travel and living expenses. Thus, the return on investment on an EMBA is typically much higher than a regular MBA programme.  

Money matters..

There is of course the issue of programme cost – these vary wildly though, and you can find really expensive programmes in both EMBA and MBA settings. 

I hope the above provides a few points to help you make the distinction between an MBA and an EMBA programme. 

Robert Kennedy College offers online MBA programmes – which are much closer to EMBAs than they are to MBAs because of their flexibility and incredible value for money. We do that in exclusive partnerships with the University of Cumbria and York St John University. Check out the list of various MBA progammes that we offer and choose the one that best suits your interests and career.  

Energy and Sustainability: Everything you need to know

In my last blog, I spoke about Leadership and Sustainability while explaining briefly what sustainability is and its three interlocking aspects. One of the three interlocking aspects was the Environmental sustainability. Environmental sustainability is about the environmental impacts associated with the business while ecological sustainability is about its impacts on biodiversity. And what affects both environmental and ecological sustainability is Energy. 

I guess you take the hint that in this blog I will talk about Energy and Sustainability.

Energy constitutes an important part of the environment. Energy production is a dominant contributor to climate change, accounting for 60% of total global greenhouse gas emissions.

Energy has always remained a critical pillar contributing to human well-being and poverty alleviation. It is important for economic development. Over the centuries, the ways and means by which we source energy has changed dramatically. One of the most critical challenges that the world faces today is sufficient access to clean energy for all. Hence the United Nations Sustainable Development Goal 7 (SDG 7), which calls for universal access to sustainable energy by 2030. 

Evolution of energy sources

Our historical and current energy systems are dominantly based on fossil fuels like coal, oil, and gas. Fossil energy was a fundamental driver of the Industrial Revolution. It also led to the technological, social, and economic development. Our energy production systems have important environmental impacts with carbon dioxide (CO2) and other greenhouse gases that the fossil fuels produce. 

It is because of these negative impacts of fossil energy that the world needs to find alternative sources of energy, sources that have a lower impact on the environment.

In order to better understand the energy requirements and eventual transition to cleaner sources, it is important to understand how the energy consumption has changed in a region and across the world; how the energy sources have evolved and what kind of access society has to which energy sources.

For example, according to a World Bank report 2016, only 7% of the world’s low-income households have access to clean fuels and technologies for cooking; the average share in Sub-Saharan Africa was 13%; and approximately one-third in South Asia. An in-depth analysis of these factors would truly reveal our energy requirements and energy source evolution. 

The renewable sources of energy broadly include: the traditional biomass (burning of wood, agricultural waste biomass, and the forestry materials), hydropower, solar, wind energy, and other renewables like geothermal energy. 

Let’s have a look at global energy consumption.

Global energy consumption

The chart below captures the energy consumption pattern from early 1800s to modern world 2019. While our dependency on traditional biomass has more or less remainedconstant over 219 years, energy production from renewable sources is still a significantly low percentage as compared to total energy generation through fossil fuels.

How much Energy does the World consume:

Global Fossil Fuel Consumption

As seen in the chart below, the main sources of fossil fuel production and consumption are coal, crude oil, and natural gas. Coal was the sole source of energy production until the 1870s after which oil and gas took over. Gas production was 14,119 TWh and oil production 37,024 TWh. Over two decades, it increased to 53,620 TWh and 39,292 TWhrespectively. 

Global renewable energy consumption 

The Paris climate agreement (December 2015) sets long-term targets for its member nations like reducing global greenhouse gas emissions. There is an ever increasing need of renewable sources to mitigate the greenhouse gas emissions. This can be achieved with two sources of energy – the renewable technologies and nuclear energy. The chart below shows the renewable energy generation from the 1960s to 2018. 

The process of transitioning from the fossil fuels to the renewable sources is termed as decarbonisation. The modern renewables including hydropower, solar, wind, geothermal,and modern biofuel production show a considerable increase since the 1960s with the world producing approximately 6.63TWh of modern renewable energy in 2018. Hydropower accounts for more than 70% of this total production. 

Affordable and clean energy – why does it matter?

First the question is “why do we need affordable and clean energy?” and second “what kind of sustainable energy sources?”. It is one of the United Nations Sustainable development goals to have affordable and clean energy. 

So why does it really matter?

1. Economic Development: Nations need energy and electricity to power their economies. Without a sustainable source governments cannot achieve sustainable economic development.

2. Reduce Disparity: The divide of the rich and the poor, the privileged and the under-privileged has widened amongst the developed, developing, and third world countries. About 789 million people around the world lack access to electricity (https://www.un.org/sustainabledevelopment/energy/)


3. Reduce air pollution: Clean energy is the only solution to the growing air-pollution concerns caused by coal, oil,and gas.4. Better healthcare: Energy is key in facilitating state-of-art healthcare facilities in a country. Fighting diseases, formulating vaccination, and fighting pandemics such as COVID-19 is attainable with a steady supply of energy – even better with renewable and clean one. 

I truly believe that every one of us has a role to play in energy consumption / energy saving, reducing greenhouse emissions. A small effort such as switching off the meeting room lights after a meeting, or taking a bike or public transport or walking can go a long way in reducing greenhouse emissions. And for those who live, breathe, and sleep energy, we offer a 100% Online MBA in Energy & Sustainability. Chat with our advisors for more information. 

Challenges facing Procurement, Logistics and Supply Chain Management professionals in Africa

Once I started writing this blog, I realised my folly. The topic of my blog might sound simple, it was anything but, especially for me – (1) my knowledge of Procurement, Logistics and Supply Chain Management (PLSCM) is entirely academic, and (2) I am not African, nor have I ever worked or even visited Africa.

But I do know that Africa is the future and has the potential for dramatic growth (if she is able to tap into that potential), and effective management of PLSCM will play a pivotal part in this future, given the resources in raw materials that Africa has.

And hence my topic, and my folly, and something I felt needed to be done.

What I didn’t realise when I picked this topic was the resources I had on hand. As of today, Robert Kennedy College (RKC) has a very large number of students from Africa who are doing or have successfully completed our 100% Online MSc programme in Procurement, Logistics and Supply Chain Management, and this is the resource I tapped into when writing this blog. 

I conducted an online survey of these students (of which about a hundred participated) and asked them about the challenges they face as PLSCM professionals in Africa, the image below indicates a country wise breakup of the response we received from our students to the survey.

Country wise breakup of the survey response received

The following are the top five responses I got back from the survey. Now, while this blog is Africa-centric, I find that these challenges are universal, and effect Africa as a whole, other developing nations, and even the developed or “first world” nations to some degree.

Top 5 challenges facing PLSCM professionals in Africa

Infrastructure – is the foundation on which a strong PLSCM function is built. The whole point of having a streamlined and efficient PLSCM department is to effectively purchase (at best costs) and move raw materials and finished products from point to point in a timely and less resource intensive manner. Efficiency also means having the products readily available, while at the same time not leaving them idling in a storehouse somewhere. To enable this, state of the art, physical infrastructure is needed – from roads and railways to airports, seaports, and safe and secure areas (such as industrial zones, etc.) for manufacturing and storage.

“A change in policy is required as there is a lack of willingness by African governments to invest in infrastructure development.”

Current student of our MSc programme in PLSCM

Corruption – the universal bane to businesses, and something that is global, encouraged and fostered by everyone involved, willingly or unwillingly. It is easy to blame a corrupt official for delays and holdups, until palms are greased to get thing moving without looking at the reasons why. Are you encouraging the behaviour by paying the bribe? Is your competitor paying bribes to hold you up? Why does the official need the money, is he paid enough? Are the laws strict enough to prevent corruption?

“Effective specially designed civic education programs at the grassroots level, to empower the people to make the right choice of leadership to drive the change that is needed.”

Graduate of our online MSc in PLCSM

Policy Change – As one of my former managers once told me “If you are comfortable then you are not growing”. And while this is true, who doesn’t like being comfortable? From our survey, this seems to hold especially true in Africa. For policy changes to take place, something big should have happened for the powers that be to even consider a change, and even then, comities have to be put in place to suggest the changes and then review the suggested changes, all this taking forever. By the time the policy change comes about, it will usually be outdated.

“A paradigm shift from traditional procurement method to e-procurement method. Also, government policies need to be critically reviewed across the board in order to encourage small and medium scale enterprises in Africa. Manufacturing sectors should not be left out as well as they are the process owners.”

A suggestion from one of our online MSc in PLSCM student

Stuck in time (Slow to incorporate modern methods) – A follow on to the previous point, it is not just the people in power who are slow to incorporate change, but also the people who do the work who are slow to embrace change as well. As the saying goes, “if it ain’t broke, don’t fix it”. But what people don’t realise is, it is not about fixing it, it is about bettering it. People get comfortable and don’t want to change or learn new ways of doing things, and then complain about the people above them making life difficult by not embracing change and current best practices.

“Changes in technology are associated with high set-up costs. Financial constraints are a major drawback, especially in some developing economies, when it comes to capital projects. Modern procurement is now taking place online, but many companies still haven’t adopted to these technological changes. Most functions now and procurement is done online while in Africa most countries still do their procurement manually. This is basically because of poor infrastructure, weak strategic alliances and reluctance to change that makes people not adopt these changes.”

A thought from one of our MSc PLSCM students

Cutting corners to save time – another universal truth. After doing a job for a period of time, we begin to believe that we know best, and can make a process better by cutting corners. But what we fail to understand is that we are but a single, small cog in the machine, and a process is in place to help the whole machine run smoother. By cutting corners and not following the process, all that might be achieved is to throw a spanner in the works. If you believe there is a better way to do something, take it to the management and make you case, it might just increase the efficiency of the whole machine.  

“Build Collaborative supportive systems and structures that work for both governments and stakeholders.”

Suggestion from a graduate of our online MSc in PLCSM

These are just some of the most basis challenges that a PLSCM professional faces in Africa. I am sure there are a lot more complicated and technical challenges out there that will confound even the most seasoned PLSCM professional. Constantly learning and getting your knowledge up-to-date is required to stay ahead of the curve. Robert Kennedy College, through our exclusive partnership with the University of Salford, UK, offers a 100% Online MSc in Procurement, Logistics and Supply Chain Management to better prepare you for the challenges to come. Here’s what our students said about this in our survey:

This is what our students had to say when asked during our survey

You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the programmes offered, application process, and for more information on any discounts we might be running in this rather strange period of our lives.

The Internet of Things – Wooohhaat?

The first time I heard the phrase “The Internet of Things (IoT)” (and that was not too long ago), my reaction was – “Wooohhaat the hell is that?! Speak English man!”

Now, my understanding of IoT is still very limited, and when I decided to write a blog on one of the new programmes we at Robert Kennedy College (RKC) launched through our exclusive partnership with the University of Cumbria (UoC), UK – 100% Online MSc Computer Science and International Business, I was happy to find that one of the modules in the programme was IoT.

Now, what can one actually write about a management programme in Computer Science and International Business? I certainly couldn’t think of anything, apart from information about the programme, which can anyway be found on our website. So, I decided to get a better understanding of IoT and pass it on to all those in the same boat as I, or who may be looking to do this programme with us.  

What is the Internet of Things?

We live in a digital world and have reached a point where most anything in the digital space can basically talk to other “things” digital and share data – we can share data through networking between our communication devices, between multiple and different apps and software. But until quite recently, this sharing was not possible in the physical world.

But now, technology has advanced to the point where we are able to build a network of multiple physical objects, connect it to the internet, to send, receive, and interpret data. And this is the Internet of Things.

I know it sounds complicated, but nowadays, we actually see it in a number of places and don’t actually realise it, taking it for granted. I saw it work at the end of last year and was impressed but did not know what I was looking at. 

My family and I were on holiday in Abu Dhabi and were lucky enough to be staying at W Hotel, Yas Island, and got an upgrade to a suite. The entire room was connected. As an example, every item in the minibar was detected and listed as removed on a screen. Housekeeping restocked as soon as we were out of the room and it was billed automatically.

People who use Google Home, Apple Homekit, Amazon Alexa, or Philips Hue are already familiar with the technology. 

How does IoT actually work?

The working of IoT can basically be broken down into four sections:

  • Hardware – is what helps us connect digital items to physical objects. The hardware is what senses things and converts that to data. 
  • Data – is the information that the hardware collects. It is what will help us make sense of how everything is working, becoming the true universal language, the universal language of “things”.
  • Software – is what interprets all the information and enables the use of information. Software is what takes data from the hardware and extracts value for the end user. 
  • Connectivity – without connectivity there is no IoT. 2g, 4g, 5g, wi-fi, Bluetooth, without connectivity there is no exchange of data and IoT would have only remained a concept that some genius penned down. 

Is IoT practical?

The simple answer is – YES! This is not science fiction; it is already is daily use. It is cheap and easy to build – the hardware can be bought out of the box, the software is readily available (that is, for those of us too lazy or who don’t have the knowledge to make or create it on our own, but are good at marketing and selling). And finally, they are simple and easy to use, especially if you make it compatible with Google, Apple and Amazon. And because of cloud computing and networking, IoT can be done from anywhere, at a low cost, with minimal maintenance. 

In fact, most of us already use IoT today, from turning on our Philips Hue lights to a colour and brightness matching our mood, to automatically switching on or off our air conditioner and heating systems, to security systems that monitor our homes and alert us when there is an unauthorised entry. All this is done live, from the tips of our fingers, with your preferences backed up on the cloud and available across all systems.

The impact of IoT on industry

According to a McKinsey & Company report in 2017, the impact of IoT across industry will be approximately US$11 Trillion annually by the year 2025.

The impact on industry is already telling, especially in terms of cost savings. As an example, vertical farms, where the only human interaction needed is at the time of planting. Watering, trimming, and harvesting are all taken care of by IoT systems.

Another good example of IoT integration to reduce costs and increase profitability is the city of Barcelona, which was one of the first European cities to adapt smart city technologies. Simple implementation of parking sensors informing motorists of where parking spaces are available has increased the revenue generated from parking to over US$50 million per year. By having IoT systems in public lighting has enabled Barcelona city to reduce their energy costs by over US$37 million per year. And finally, their smart gardens have saved them US$58 million a year by just efficient water usage.

And as technology is always changing, the city of Barcelona has also incorporated these changes to have a direct and positive impact on the lives of its residents. The use of smart phones has enabled residents to receive instant alerts and updates from the city about employment, housing, administration, mobility, health services, security and utilities. 

A recent study (2018) of McKinsey: Smart Cities: Digital solutions for a more livable future distinguished 55 applications within the fields shown below. According to this study, these applications are capable to improve quality of live by 10 – 30%.

Now for the cons of IoT

The “force” cannot exist without the “dark side” (Star Wars reference), and now that we have ranted and raved about how wonderful IoT is, here are a couple of its more obvious drawbacks. 

The biggest and most obvious disadvantage of IoT is data security and privacy. As mentioned earlier, creating an IoT device is not too difficult or expensive to make, and in their rush to become the first mover and trendsetter, most manufacturers tend to overlook the security aspect of IoT. Keep in mind, in most cases, you will have to enter your personal information, and in some cases, even your credit card information to effectively use your IoT enable devices. Now, these devices usually work in a network and are on the cloud, so if there isn’t firewalls and security, your privacy and data can be at risk. 

Another unexpected drawback, if you can even consider it that, as it is caused due to the increase in efficiency due to implementation of IoT, is to increase in the short-term unemployment. With the increase in efficiency, the workforce required to do a particular job will be streamlined. While this has the positive impact of reducing costs and the turnaround time to job completion, it also has the unintended consequences of leaving a large percentage of the workforce either unemployed or having to be retrained in a new job skill.

A good example of the massive impact IoT is having on the retail industry is Amazon Go. The evolution of how everything from merchandising and stocking, supply chain management, human resources, and billing, in the retail industry is just amazing to see.


Finally, the importance and potential future impact of IoT cannot be understated, especially in the era of social distancing. The judicious and responsible implementation of IoT will free up humanity to do what we do best – create, innovate, learn, socialise and moving on to the next “big thing”. Which is why IoT, as a study module, is integral to a number of programmes offered by Robert Kennedy College

You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the programmes offered, application process, and for more information on any discounts we might be running in this rather strange period of our lives.

Breakthrough Technologies through the eyes of Bill Gates

“Information technology and business are becoming inextricably interwoven. I don’t think anybody can talk meaningfully about one without the talking about the other.”  Bill Gates
 

 

We are changing the world with technology, with software being the big change agent. And the man who has been instrumental (the change agent himself) in bringing this technological change is Bill Gates. Bill Gates needs no introduction. I believe his name is synonymous with the innovation and change in the world of technology as the world sees it today. Bill Gates, one of the richest entrepreneurs, innovators, one of the most influential persons in the world and an immense philanthropist, revolutionized the technology industry when he co-founded Microsoft in 1975. And the rest is history. 

Gates say the advance of technology is based on making it fit in so that you don’t really even notice it, so it’s part of everyday life. I am not going to lay out the advantages or importance of IT in business or as Bill Gates mentions, in our everyday lives. This is more about what is going on in the world of Information Technology and how new breakthrough technologies continue to disrupt the world.  

MIT Technology Review has been presenting ten breakthrough technologies every year. And in this list’s history of 18 years, the 2019 edition was curated by none other than Bill Gates. There could not be a better person than Gates, sharing with the world which new technologies he believes are poised to deeply impact our lives.  

MIT’s 2019 breakthrough technologies fall into 3 categories – climate change mitigation, healthcare and AI. These are some challenges and opportunities for our future society and communities. Based on Bill Gates’ beliefs, these chosen technologies indicate a trend of transition in technologies – from those that mostly made life longer to those that mostly make it better. 

Here goes the list: 

  1. Robot revolution—robot hands that can learn to manipulate unfamiliar objects on their own  
  1. New-wave nuclear power—Development of both new fission and fusion reactor designs making them safer and cheaper  
  1. Customizable cancer vaccines— Companies like BioNTech and a treatment that uses the body’s own immune system to target only tumoral cells  
  1. Predicting premature babies—a simple blood test that can predict chances of preterm birth, potentially saving many children’s lives  
  1. Probe-a-pill—a swallowable device that takes image the gut and even performs biopsies.
  1. Plant based burgers—The aim is to drastically cut emissions from the food industry by inventing both plant-based and lab-grown meat alternatives.  
  1. Separating and ‘Repurposing’ Carbon dioxide—Companies like Climeworks based in Zurich, are looking for economical techniques for absorbing CO2 from the air and locking it away. Companies aim to produce methane from carbon emissions and also sell carbon dioxide to the soft-drink industry 
  1. An ECG-enabled smartwatch— Electrocardiogram – popularly known as ECG – will be available as wearable technology. The wearable will be able to detect atrial fibrillation and continuously monitor people’s heart and health conditions, giving early warnings of problems. 
  1. Self-contained toilets—The low-income countries cannot afford the luxury of a sewer system. Gates says, “A self-contained toilet takes the human waste, liquid and solid, and in most cases does some type of separation. The solids you can essentially burn. The liquids you can filter” 
  1. All- capable AI assistants—Expect better conversations with AI Assistants that are capable of much more than just conversations like taking meeting notes and shopping online.  

Bill Gates is not just a believer but an avid investor in the development of these innovative technologies that are bound to change the world. As he says,

“How you gather, manage, and use information will determine whether you win or lose.” 

I for one believe the world is witnessing how IT has transformed businesses and is an integral part of its success. RKC providing online programmes understand the importance of tech and thus offers Online Masters that provide you with the necessary knowledge and skill to excel in the field of IT. Chat with our advisors on WhatsApp to know more about our 100% Online MBA specializing in Information Technology. Because in the words of Bill Gates,

“Vision without execution is daydreaming”. 

5 reasons why a career in Healthcare is not as bad as it seems today

I promise this is not another COVID-19 update, myths and truths or uncovering the facts where and how this deadly disease started, blog. There is more than enough information out there – and I’m talking about reliable sources only – enough to overwhelm most of us. 

These are challenging times for us as individuals and for society at large – humanity some might say. The global pandemic has changed the way nations operate and has impacted the global economy. The greatest and gravest impact of the pandemic, however, is on the healthcare systems around the world. With about 3.8million COVID-19 cases in 210 countries and territories (as of May 9th, 2020), the healthcare systems worldwide are immensely stressed. (https://covid19.who.int)

Healthcare systems are hit hard both directly and indirectly (too many patients at the same time, too many doctors becoming patients, lacking resources, inability to attend to other conditions, etc.) 

The World Health Organisation said so much: 

Countries will need to make difficult decisions to balance the demands of responding directly to COVID-19, while simultaneously engaging in strategic planning and coordinated action to maintain essential health service delivery, mitigating the risk of system collapse

WHO, March 2020

So, if this is not an update, nor a myth-busting blog, what is it? 

I would like to focus on the positives of this situation from an educational point of view, thinking especially of those who envisaged a career in the healthcare sector, people who are looking to switch careers, or someone already in the healthcare sector looking to verticalize their career path. Now is the time to “quarantine” and study!  

Choosing a career for yourself might be one of the biggest decisions you take in your life. Some of us are fortunate to follow our passions and interests and make a successful career out of it. Sometimes after pursuing a career for a whole number of years, we realise that it is not something we want to do for the rest of our lives. We’ve got to rationalize our interest and weigh the pros and cons a career offers. If you have been thinking what’s in it for you, here is what a career in the healthcare industry has to offer: 

Humanitarian side

While every profession tends to serve society in some way (well at least that is what I like to believe), in my opinion, healthcare is the noblest. The potential of changing and saving lives puts you on a higher pedestal as a professional compared to any other. If you have an innate desire of helping others and uplifting humankind, healthcare is the right place for you.

Tremendous Growth Opportunities

Surveys and labor statistics reveal that healthcare is one of the fastest growing industries with an estimated addition of 1.9 million new jobs. According to the U.S. Bureau of Labor Statistics, employment in healthcare occupations was projected to grow 14 percent from 2018 to 2028, much faster than the average for all occupations. 

Healthcare occupations are projected to add more jobs than any of the other occupational groups. This projected growth is mainly due to an aging population, leading to greater demand for healthcare services.

U.S. Bureau of Labor Statistics

Challenging situations like the ongoing pandemic of COVID-19 have created a need for strong healthcare leadership. The present outbreak is far from over, and the healthcare sector is operating at maximum capacity. There is an urgent need to adequately plan and utilise limited resources. At the same time, it has become all the more imperative for the healthcare systems worldwide to be prepared for any future events, as the COVID-19 pandemic is definitely not the last one.  

The sector offers a number of growth opportunities that are wide ranging, beyond the conventional patient care field of being a practitioner, nurse or therapist. There are opportune avenues for both horizontal and vertical growth in the sector. As the healthcare paradigm continues to evolve, there is a greater demand for innovation in healthcare technology, guided by the vision and sharp business acumen of a strong healthcare professional. 

Dynamic

Most days, a healthcare professional will bring new challenges and should bring with them joys and job satisfaction. Demand is changing and so are the roles in this industry which adds to its dynamicity.

 Flexibility

Healthcare offers flexibility in three ways. First the flexibility on choice of profession. You have a plethora of options to choose from: patient care services, government relations, human resources, planning and development to name just a few healthcare management positions you can get yourself into. 

Then you can choose the environment you want to work in. The healthcare management professionals are not limited to jobs in just hospitals. There are great career opportunities in consulting, state and federal agencies, insurance, laboratories and universities.

Thirdly, this industry is not bound by borders. The experience in the field is highly regarded across nations making you a valuable asset wherever you go (with few exceptions where licensing might be necessary).

Competitive Salary

Last but definitely not least, healthcare sector jobs are well paid and rewarding in the monetary sense as well. On an average, the median salaries of healthcare professionals are higher than the annual wages of all other occupations. (https://www.bls.gov/ooh/healthcare/home.htm)

A master’s degree could provide you ‘the edge’ to make a move into or to grow within the healthcare industry. The enhanced knowledge and multifaceted skillsets will allow you to make progress by leaps and bounds in the field.  

Because let’s be honest – who hasn’t had a bad “boss”? Highly competent people with tremendous skills in their profession, parachuted in leadership positions without preparation. That “joy and job satisfaction” we were mentioning earlier are highly impacted by leaders who are not fully prepared to lead other people too. 

Our Online MBA Healthcare programmes will help you understand international perspectives and also how to analyze the constraints and trade-offs in developing and implementing national health strategies, health care financing, economic evaluation, the role of effective change management and technological development. 

Chat LIVE on WhatsApp with one of our Education Advisors for more information on the healthcare management programmes offered and the application process. Remember to ask about our “quarantine” discounts and check your eligibility. 

On behalf of the entire RKC team, a special thanks to all healthcare professionals across the world for working tirelessly to keep our communities safe. Our gratitude to all of you responsible citizens for staying home and helping stop the spread. #thankyouheathcareworkers

RKC Launches 100% Online Master’s Degree Programmes

In today’s world of “social distancing”, online education has taken on an unprecedented importance. To remain professionally relevant, we must constantly find ways of self-improvement and adding more value to the organisation we work for. Online education is one of the easiest ways through which we can achieve these goals, all while maintaining social distancing!

Who are we? 

What we offer

Until now, one of the unique value propositions of RKC’s online programmes has been the one-week mandatory residency programme, which was conducted either in the university campus in the United Kingdom or the college campus in Zürich, Switzerland.  

However, due to the Coronavirus (COVID-19) global pandemic and to cater to the changing requirements of our students, RKC and its partners have moved to an online delivery for the residency as well, therefore all our Master’s degree programmes are now 100% online. 

OnlineResidency™ at work

There’s a caveat here – we really do like, and know students benefit greatly from, face to face residencies. It is likely that, as the pandemic ends, some of the programmes may go back to face-to-face residencies for new students. 

What does an “OnlineResidency™” look like? We’ve just finished our very first delivery this last week, and, some small technical challenges aside, given how everyone is online and video conferencing these days, we believe the experience has been successful and useful to our students, who learned about designing and conducting research for the Master level dissertations.

What can you study with us? 

100% Online Programmes offered through our exclusive partnership with the University of Cumbria

Online MSc Computer Science and International Business 

Online MSc Data Analytics 

Online MBA Artificial Intelligence 

Online MBA Digital Marketing 

Online MBA Information Technology 

Online Master of Business Administration 

Online MBA Energy and Sustainability 

Online MBA Finance and Sustainability 

Online MBA Media Leadership 

Online MBA Leadership and Sustainability 

Online MBA Public Health Management 

Online MBA International Healthcare Management 

Online MBA International Business 

Online MBA Risk Management 

Online MBA Tourism 

Online MBA Educational Leadership 

Online LL.M – Master of Laws in International Business Law 

100% Online Programmes offered through our exclusive partnership with the University of Salford

Online Master of Science in Global Management 

Online Master of Science in Project Management 

Online Master of Science in Financial Services Management 

Online Master of Science in Marketing 

Online Master of Science in Procurement, Logistics and Supply Chain Management 

Online Master of Science in Human Resource Management and Development 

Online Master of Science in Information Systems Management 

Online Master of Science in International Banking and Finance 

Online Master of Science in Accounting and Finance 

Online Master of Science in International Business with Law 

Online Master of Science in International Corporate Finance 

Online Master of Science in International Events Management 

Online Master of Science in Digital Business 

Online Master of Science in Fraud and Risk Management 

Online Master of Science in Finance and Investment Management 

Online Master of Science in International Business 

Online LL.M – Master of Laws in International Commercial Law

100% Online Programmes offered through our exclusive partnership with York St John University

Online MBA in Leading Innovation and Change 

Online MBA in Coaching Mentoring and Leadership 

Online MBA in Entrepreneurship and Innovation 

Online MBA in Innovation Leadership and Consulting 

Online MBA in Leadership and Management 

Online MBA in Management Consulting

Which programme is right for you? Not a question I am able to answer via a blog post, I’m afraid, but if you want to find out, you can get in touch with our team of admission advisers who can have a look at your profile and give you some advice.  Chat LIVE on WhatsApp with our Education Advisor today! Or, if you have already made up your mind, click here to apply.

The University of Cumbria ranked 8th in the world

Robert Kennedy College takes immense pride to share a recent development in the university rankings world. Our exclusive partner – the University of Cumbria – has been ranked 8th in the world by Times Higher Education. The Times Higher Education Impact Rankings are the only global performance tables that assess universities against the United Nations’ Sustainable Development Goals (SDGs). The ranking uses 3 calibrated indicators: research, outreach and stewardship to provide comprehensive and balanced comparisons.  

At its heart, the UN has 17 Sustainable Development Goals that call for an urgent action by countries –developed and developing – for global partnership. Sustainable Development Goal 4 stands for Quality Education i.e. ensuring inclusive and equitable quality education and promoting lifelong learning opportunities for all. 

Despite the considerable progress on education access and participation over the past years, 262 million children and youth aged 6 to 17 were still out of school in 2017, and more than half of children and adolescents are not meeting minimum proficiency standards in reading and mathematics.

https://sustainabledevelopment.un.org/sdg4

The Times Higher Education Ranking on SDG 4 – quality education – measures universities’ contribution to early years and lifelong learning, their pedagogy research and their commitment to inclusive education. This second edition includes 766 universities from 85 countries. Metrics and the percentage weightings given to each metric for arriving at the ranking are as follows:  

  • Research on early years and lifelong learning education (27%) 
  • Proportion of graduates with teaching qualification (15.4%) 
  • Lifelong learning measures (26.8%) 
  • Proportion of first-generation students (30.8%) 
University of Cumbria – Lancaster Campus

There couldn’t have been a better timing for this impressive ranking to be announced, as we also announce that the University of Cumbria Online MBAs are now being offered 100% online. Yes, you read that right! Now you can study and receive British government approved, Swiss quality education – all 100% Online. This is, however, a limited time offer. Enrol today or chat with one of our advisors on WhatsApp now.  

Financial Management: Boring to Death or Deadly if Misunderstood?

Finance: each one of us deals with finance in some way or the other on a daily basis, whether we are a professional accountant, a number-crunching wizard, an artist, a medical practitioner, a lawyer, an entrepreneur or a home-maker. There is no escape from finance even if you do find it difficult to comprehend the financial concepts or resent dealing with numbers (that goes for myself, huh numbers!).  Being pervasive might make it one of two things (or maybe both): boring to death, or critically important. 

At RKC, we know an MBA is a prime management qualification for managers. Our Online MBAs give you a great overview of the business world and enhance your knowledge and skills further. And since Financial Management is an integral part of any business, we offer it as a core or as an elective module depending on which MBA programme you choose to pursue.  

Now, before I share with you an insider’s view of the online module let’s get started with the basics – learning what financial management is and why it is important in business.

What “Finance” really is – academically speaking 

Khan and Jain (as cited in Classification of Finance by Paramasivan and Subramanian, 2009) define Finance as the art and science of managing money. Any kind of business entity, big or small, depends on finance to meet its requirements in the economic world and so if you accept that money is the lifeblood of the organization, then finance is its heart.

Types of Finance 

As described above, Finance is one of the most important functions of a business. It plays a paramount role in the smooth functioning of the business activities.

Finance can be classified into mainly two categories:  

Figure 1. Classification of Finance by Paramasivan and Subramanian (2009). Paramasivan, C., and Subramanian, T. (2009). Financial management (New Delhi: New Age International (P) Ltd., Publishers). 

Private Finance includes the Individual, Partnership, and Business or Corporate Finance, while Public Finance, on the other hand, covers Central, State and Semi-Government Financial matters. (Source: Financial Management by Paramasivan and Subramanian (2009)).   

Financial Management 

According to Joseph and Massie (as cited in Classification of Finance by Paramasivan and Subramanian, 2009): Financial Management “is the operational activity of a business that is responsible for obtaining and effectively utilizing the funds necessary for efficient operations.” The job of a finance manager includes procurement and efficient utilization of funds. Financial management has two main objectives: wealth maximization and profit maximization.  

So ultimately, why IS Financial Management important? 

It is imperative for any business to maintain adequate amounts of funds for its smooth operations. Financial Management thus plays an important role in the following: 

  1. Financial Planning:  Financial Management begins with the determination of the financial requirements of the business. 
  2. Acquisition of the funds: A financial manager employs the most effective means of acquiring adequate funds at minimum cost.  
  3. Utilization of funds: It is not just acquisition, financial management also involves the efficient and effective use of the sourced funds to improve the operational efficiency of the business. 
  4. Profitability: Employing financial management tools like accounting, budgetary control, ratio analysis and cost volume profit analysis, businesses look to improve their profitability. 
  5. Enhance the value of the firm: As stated earlier, one of the objectives of financial management is wealth maximization and improving returns for investors.  

 
What would you learn from the Financial Management module in the Online MBA? 

Business is about profit, and there can be sustainability only with proper knowledge of effective financial management. Oxford and Harvard Business School graduate Professor David Duffill will expand and reinforce your knowledge of financial accounting, management accounts, budgeting and financing. This module aims to provide an introduction to financial accountancy and managerial economics. The module will engage you in reflective and discursive argument on the materiality of different social, environmental and ethical issues, introducing you to accounting and principles of finance and letting you use your new knowledge in practical ways by using case studies. 

What our own students say about the module?

There is nothing better than to hear from the horse’s mouth (past and current students) though, so here’s what they have to say about the Financial Management module. Each cohort is surveyed at the end of the module.

For most students, the module was “an amazing learning experience”. The course developed their skills, enabling them to quickly adapt and find a new direction. The learning also allowed them to better understand changes in the economy, and identify new business opportunities.  

It “strengthened my business and financial skills”. Students benefit from a clear understanding of the foundations of finance as well as the various financial instruments used for valuations like futures and options and also from an understanding of financial statements to make an investment decision. Videos from Professor David Duffill and illustrated instructions on exercises or examples are seen as very helpful by an overwhelming majority. 

It is not all roses though. There is also agreement on the fact that assessments are very challenging (just like real business challenges are very … well … difficult!), yet they are also a very enjoyable experience allowing students to use different financial techniques to improve a business (for those who get it right anyway!).  

I hope you enjoyed reading about business finance management today. Stay tuned for next week’s blog that takes financial management to a more personal level – managing your personal (or family) budget! Watch this space! 

MBA or MSc: Is there a difference? Should you care?

It’s been a while since I finished my MBA, but I very clearly remember my thought process and the confusion I felt before deciding to start it.

I kept asking myself all sort of questions.

These are just some of the many questions that flashed through my mind at that time. But once the dust settled and I picked the path I wished to travel, a new question popped up.

Should I do an MBA or an M.Sc. (in management/business)?

Back then I already had friends who were doing or had completed MBA and M.Sc. programmes in management from universities around the world. As I myself was looking only at full time on-campus programmes, I asked them about their courses to get a better understanding on which programme to enrol for. These differences carry to the online versions too.

There are some basic differences between an MBA and an M.Sc programme.

  • Student demography: MBA programmes are usually targeted at individuals who have a minimum of 5 years work experience and as a consequence are usually somewhat older, people who are perhaps already in middle management positions. Whereas the M.Sc degree programmes are targeted at younger graduates, individuals with little to no work experience, usually coming in straight from their bachelor studies.
A graphic of median age distributions over MBA and MSc programmes since 2010
Figure 1. Median age for female (orange) and male (blue) students across the MBA and MSc programmes in RKC since 2010 – a clear and significant difference (statistically significant that is, rather than “important”).
  • Teaching methods: From the student demography we can deduce how the education will be structured in class. M.Sc. programmes are usually more theoretical and classroom centric, whereas MBA programmes are based on experiential learning, calling on the work experience of the students to analyse case studies, projects and submit dissertations, working in groups with other students, learning from their experience coupled with the theoretical aspects of learning.
  • Focused study: MBA programmes are usually focused on general management and not in a specialised field of study, in fact most of the modules taught in an MBA programme would be on general management. M.Sc. programmes on the other hand are usually more focused in a particular field of study (for example, Information Systems Management, Global Management, Accounting and Finance, etc.). 
  • Duration: MBA programmes are usually 18 to 24 months long, with a project and dissertation. M.Sc. programmes can usually be completed in 12 months, although they too will typically require a dissertation.
  • Cost: In most universities MBA programmes are priced much higher than M.Sc. programmes (although you will find exceptions too).

So, which one is good for me?

In recent times more and more universities have started creating courses where the differences have been reduced, creating courses that are unique and catering to the student’s requirements. This is especially true for online master’s degree programmes where technology has had a big impact on communication and giving students from all over the world and from different professional backgrounds access to information like never before.

So, which one is right for you? Not a question I am able to answer via a blog post, I’m afraid, but if you want to find out, you can get in touch with our team of admission advisers who can have a look at your profile and give you some advice.

Explore the number of specialised master’s degree programmes offered by Robert Kennedy College through exclusive partnerships with top British universities. Or, if you have already made up your mind, click here to apply