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.  

Celebrating International Day of Peace #PeaceDay

The 21st of September was observed as the International Day of Peace across the globe, a day earmarked by the United Nations, urging nations to observe ‘non-violence’ and encourage peace on the day, as well as a more general practice! Since 1981, each year it has been celebrated with the aim of bringing peace and harmony in the otherwise war-ridden world. 

Today the nations face several kinds of threats from each other, risk of civil war, political unrest, nuclear threats, cyberattacks, violence, and terrorism to name a few. Natural threats (well they are man-made too in a way) faced by the world are many. 

Extreme weather changes leading to floods and storms, natural disasters like earthquakes, wildfires, ecosystem disruptions, oil spills, radioactive contaminations, and of course the novel corona virus are threats that engulf and can potentially destroy economies across the world. The virus itself has derailed the world economy for probably several years.  

The world has witnessed four global recessions, in 1975, 1982, 1991, and 2009, leading to severe economic and financial losses globally. The pandemic is negatively affecting global economic growth beyond anything experienced in nearly a century. Estimates so far indicate the virus could trim global economic growth by 3.0% to 6.0% in 2020, with a partial recovery in 2021, assuming there is not a second wave of infections.  

Amidst all the chaos, it has never been so important that we all come together to mark and celebrate a day of global solidarity and pledge to build a peaceful and sustainable world. Nations should realize that they are not each other’s enemies. However, there are bigger and common enemies that they should come together to fight against.  

The United Nations has recognized ‘Shaping Peace Together’ as the theme of the 2020 International Day of Peace.  “In these days of physical distancing, we may not be able to stand next to one another. But we must still stand together for peace.   And, together, I know we can — and will — build a more just, sustainable, and equitable world”, said António Guterres, Secretary-general of the United Nations, in his message to mark International day of peace.  

I believe that we all have a role to play in shaping the world’s future. Any contribution big or small is important. So, let’s all come and stand together for #PeaceDay. 

And education is a great way to promote world peace. As Mahatma Gandhi said, “If we want to reach real peace in this world, we should start educating children”. We at RKC are continually working hard to provide the world-class education to millions of students across the globe at affordable fees. Join us today to promote the global cause of peace. 

#DILO (A day in the life of) a master’s student – Nigel

As a former Education advisor, if I had to pick one of the most frequently asked questions by prospective students, it would definitely be “How many hours do I need to study?” 

The vast majority (if not all) of our students are working and leading remarkably busy professional lives. Some are motivated and have already decided to undertake a master’s, while others contemplate the unknowns of an online programme. In my experience, two things effect their decision the most.  

First – finances, and second, being able to strike the perfect work, study, and life balance. While I cannot completely help you with the finances (partially yes – check out the discount offers currently being offered on our online MBA, MSc, and LL.M programmes), I thought what I could do to help was to bring some facts to light about the other unknowns – what does a typical day in the life of an online master’s student look like? 

I asked a few of our students from different walks of life, occupations, and personal situations to answer a few questions on their study tactics and strategies, plans and reality, and so on. I thank each one of the respondents for taking the time to share their experiences and give valuable advice to you – possibly future students. In our ‘a typical day in the life of a master’s student’ blog series once a month, we will bring to you one of our real students or alumni sharing the insights.  

Today, we’re looking at Nigel’s typical study days. Nigel, an RKC & University of Cumbria soon-to-be graduate, offered us these answers: 

An Introduction 

Vidhi Kapoor (VK): Which programme did you choose and why? 

Nigel Lee Tranter (NT):  MBA – Leadership and Sustainability, I chose this topic for two reasons  

1. I have a passion and high degree of interest in both topics  

2. I wanted to study through a recognised programme and a recognised college/university, and I wanted something I could easily apply in the workplace 

The Study Plan  

VK : How did you plan to study each module, and what was the reality? How many hours did/do you have to put in each day/or in a week? 

NT: My initial plan was to commit the majority of study hours at a weekend, however, in reality what actual worked was daily early mornings (2 hours per day) with a supplemental number at the weekend which flexed between 4 – 6 hours depending on workload. 

VK: What part of the day did/do you find most suitable to study? (e.g. early mornings, lunch break, evenings, weekends?) 

NT: For me definitely early mornings starting at 5 or 5:30 

VK: How much time did you devote for each assignment? 

NT: I assessed the requirements after reviewing each assignment and built in an extra 30% as contingency to allow for extra reading, research and breaks as each assignment progressed, this was based on the evolving nature of discovering something new and interesting during the research phase. I set aside about 20 hours per week for studies.

Travelling and Communication 

VK: Did you travel for work? How did travelling impact your ability to study? 

NT: Only rarely did travel affect my study time due in part to the early morning start time plus mode of travel (usually train or airplane) allowed me to study while travelling also. 

VK: How were you able to interact with peers and/or professors given the time differences? 

NT: The use of virtual and collaboration technologies eradicated the time differences. During my dissertation my supervisor and I agreed to also supplement using WhatsApp also to support the learning experience. 

A typical day as a master’s student 

VK: What does a typical day as an Online Masters’ student look like for you? 

 NT: Start at 5 or 5:30am, study for 2 hours. Commence my normal business day around 8 am, finish my business day circa 6 to 7pm then depending on how I felt, perhaps another hour’s study, however this was always optional so as not to feel it was mandatory thus avoiding the learning experience becoming stressful. 

Any advice? 

VK: Any advice you have for students to better plan their studies. 

NT: Find your working space and condition yourself to prepare for learning when you enter this space. Build in contingency for holidays and breaks to avoid building pressure. Find your optimum study period of the day when you are most productive and experiment with this timeframe, learn how to research effectively to get the quality results you want, study productivity techniques that work for you and finally enjoy the experience. 

Alright folks, this was a sneak peek of a typical day in Nigel’s life as a master’s student. I hope you find it insightful and informative and that it gives you an idea of what to expect when you enrol for our master’s programmes. Watch this space as we have many more interesting insights coming up! 

Women in RKC – Jelly Offereins – One who found a perfect Master’s programme that seemed “too good to be true”

Allow me to introduce you to an RKC graduate of our MA Leading Innovation and Change programme, now working as the Director of International Affairs for a Business school in the Netherlands.  

Who is Jelly Offereins? A short profile: 

Vidhi Kapoor (VK): Who are you, really? 

Jelly Offereins (JO): I am an energetic, task-driven, positive personality with a passion for international interactions and collaboration. I studied, lived and work(ed) across borders and as the Director of International Affairs for a Business School in the Netherlands. I support students, staff and faculty in increasing their international exposure and competence.  

Husband Paul, dog Flynn and I live in an empty nest, which is luckily not really empty as the girls (21, 23) find their way ‘home’ well. 

Jelly Offereins

Getting back into education 

Your story of getting back to do a Master’s degree 

VK: What was the driving force behind your enrolling for an online degree? Who inspired you? What motivated you? 

JO: After having decided that I wanted to do an international master’s, with a broad focus, I specifically looked for a master (mainly) that was delivered online, for several reasons. As I travel for work quite regularly, I was afraid to miss class – and consequently dedication – required in a traditional master. Also, because being away from home regularly, I would not have liked to leave home on Friday evenings and Saturdays for school; remote learning gave me more flexibility in combining private life and studies /work. Last but not least: I was somewhat skeptical about an online master’s; could it be as good as a traditional one with regard to interaction, peer-learning, broad and deep investigation and reflection? 

VK: What were the thoughts/situations/people/challenges holding you back from starting (if any)? How did you overcome them? 

JO: For quite a while, I kept on postponing doing a master’s since work was demanding all my time and attention and I felt it would not fit in my professional and private schedule. The online master’s enabled me to plan/block bigger chunks of time (rather than scattered moments) that I could dedicate to the master’s, which worked better for me.  

VK: What surprised you the most when you started your studies? 

JO:  That I loved it right from the start!  

I loved that I could watch the videos and rewind them endlessly when I did not fully understand; 

I loved the diversity in the classroom;  

I loved that the group operated like a traditional class: there were people with lots of opinions and a strong voice, and people who brought in great sources and very well considered views, there where people like me – listening/reading carefully and posting moderately-, teachers mirrored, posed critical questions, etc. 

VK: Do you feel there are unique challenges women face when deciding to get back into education? 

JO: Yes, and that these challenges may vary in different parts of the world and in different (sub-)cultures, financial issues, access to (earlier) education, jobs and career path, self-confidence 

Getting the degree 

The work to get the degree – what did you learn, how did you balance, what would you do differently 

VK: Which programme did you do? Why? 

JO: MA Leading Innovation & Change 

My earlier degrees focused on resp. Hotel Management and International Marketing; I decided I wanted to do something broader and more strategic 

VK: What is the single most important thing you learned during the programme? 

JO: Self-confidence, self-knowledge, critical reflection 

I had never written academic papers in English, I had never interacted online-only, most of the content was new to me, and I discovered that I liked it and that I was good at it. 

VK: How did you balance work and studies? 

JO: What helped the most is that I really liked the programme and the way it was delivered (the videos, the sources) – asynchronously. 

I work full time, and was lucky to have 0.1 FTE from my employer to work on the master’s. My kids were happy and healthy teenagers.  

For the videos I blocked 2-3 hours. Every 4-5 weeks, I tried to take the Friday or Monday off. I used weekends and holidays and I told my family that I’d rather work on the master’s than watch TV or read a book (and they let me). 

VK: Any particular challenges to being a woman and studying online, or do you think all students face the same ones? 
JO: It works better if you are in the position that you can work on your study for some hours (or even a day, or even 2) more or less continuously. If other tasks at home/in the family also require attention throughout the day, the study work may be jeopardized.  

 Life post degree 

What changed, if anything? 

VK: What’s new in your life since graduating / starting your studies? Any visible impact already? 

JoI have more self-confidence and I feel proud 

The most important thing that Jelly learnt during the Master’s are – Self-confidence, self-knowledge, critical reflection

VK: Anything you are doing differently now because of the things you learned? 

JO: I am better in critical reading, critical questioning, reflecting 

VK: Do you feel that getting a Master’s degree or doing other online programmes can reduce gender discrimination in the workplace? 

JO: I would say getting a master’s may have a positive effect on the career chances for a woman; an online master’s programme maybe easier to fit in than a traditional master’s, however depending on the home situation and support. 

Advice for other women 

Or other students, really. 

VK: Imagine you could send a message back in time to your pre-degree self: what would it be? 

JO: Dear Jelly, I know that you want to have your master’s degree and I also know that you spend a lot of time on your demanding full-time job and that you also want to be a good and nice mother and that you do not want to spend evenings and Fridays/Saturdays away from home to go to school. I think I found the perfect the master programme for you: it is International, it is a UK degree, its is about Leading Innovation and Change and ….it is online, with one week in York, and it is not expensive! It is almost too good to be true. I have been looking for ‘the adder under the grass’ but cannot find it. Have a look at this link https://rkc.swiss/catalogue Kind regards, Jelly MA 

VK: Imagine you could send an object back in time to your pre-degree self: what would it be? 

JO: pair of headphones 

Closing thoughts 

VK: Anything else you would like to add that could help with the goal of increasing women’s participation/access to a Master’s degree? 

JO: Member gets member programme*; 

Mentors and mentees;  

Increase awareness of online: combine job with study, combine home-task with study 

[*Editor’s note: RKC does in fact have a referral programme in place, allowing current students to refer friends and relatives. Talk to our advisor to know about the benefits and discount offers of the referral programme].

I hope this blog brings much inspiration and encouragement to all our readers and motivate you to start the masters that you have always dreamt of.

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. 

The difference between a College and a University – is there even one?

Before we get into the rest of the article and try to go past the surface differences between a college and a university, let me talk about the difference as it relates to us (Robert Kennedy College) and our partner universities (University of Cumbria, University of Salford, and York St John University). 

The relationship between Robert Kennedy College and our partner universities

As a college, Robert Kennedy College (RKC), like our university partners, is a higher education institution offering a number of master’s degree programmes. However, we are not the ones who award the degree to a student who successfully completes a programme with us. The degrees are awarded by our university partners, who are recognised and accredited by the government (in our case, as our partners are British, by the government of the United Kingdom). 

As the degree is awarded by the university, we are required to maintain education standards as prescribed by the university. They are also the ones who determine which programmes we can deliver on their behalf and generally also the syllabus of the programmes we deliver.  

Now you might be asking – What exactly is RKC’s role in all this? 

We are the ones who deliver the programmes to our students. We determine the most effective methodology of teaching the syllabus to the students, evaluating and guiding them, and providing teaching support. Not only that, we market the programmes, filter and guide students through the admission process, and provide student support. We are responsible for developing and maintaining the entire OnlineCampus and for record keeping, and are the ones who ultimately deliver the programme to the students. 

We also share responsibility with our partners on delivering residencies – the one week face-to-face components of our programmes. With this year’s residencies affected by COVID-19, we have moved to an online delivery of this component, with great success even if we say so ourselves (well, our students agree too!)

RKC’s OnlineResidency™

So far, we have focused on the relationship between RKC and our partner universities. But, in today’s world, is there really a difference between a college and a university? I will argue there is, especially in the UK, however, more and more this difference diminishes, especially globally.  

The British perspective  

Now, as we are talking about British universities, let’s talk a little about the education system in the United Kingdom and get a basic understanding of it.

There are 5 stages to the education system in the UK: 

  • Early Years 
  • Primary Years 
  • Secondary School 
  • Further Education 
  • Higher Education 

The first 3 stages are mandatory and on completing secondary school, students have to sit for GCSE or A-Levels exams. After secondary education (high school), getting a better understanding of the differences between college and university becomes important in making an informed decision about the future. 

College

A college in the UK is an educational institution that offers higher education courses that can either be vocational courses or lead to specific degree programmes. A student attending college will be equipped with the skills and knowledge required to enter into a specific job or a university programme. 

College programmes in the UK tend to focus on practical and hands-on experiential learning, whereas university programmes tend to be a mix of both practical and theoretical knowledge. Colleges also offer more part-time study options, and are usually cheaper than a university programme. 

Some of the certifications colleges in the UK offer are: 

  • Diploma 
  • Foundation Degree
  • General Certificate of Secondary Education GCSE 
  • Higher National Certificate HNC 
  • Higher National Diploma HND 

 University 

In the UK, a university is a higher education institution which has the legal authority to issue degrees. The title of “university” is obtained by ensuring a certain quality of education that is specified and monitored by a duly appointed government authority. The degrees that are awarded are: 

University of Salford
  • Undergraduate degrees 
  • Postgraduate degrees 
  • Doctorate (Ph.D.) 

However, some British universities might have branch colleges under them that run different programmes like foundation degrees, helping prepare students for university.  


Now that you have a better understanding of the British educational system, and more importantly, the relationship between RKC and our partner universities, please go through the list of programmes we offer and make your choice! Which programme is right for you?  

Celebrating our Graduates – University of Salford

Get in touch with our team of admission advisers who can have a look at your profile and give you some advice on the programmes that best meet your requirements.  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.  

Women in RKC – Renata Takac, MA Leading Innovation and Change

Dear readers welcome to the women’s Day special series. We reckon that just a day is not enough – so we will be celebrating women, their courage and their achievements throughout this month. I am excited about this series of blogs that we are presenting to you here featuring RKC’s women ambassadors from diverse backgrounds having their own unique story to tell.  

Full disclosure – the students we are featuring on the blog this month are all  RKC ambassadors. The RKC ambassadors programme is an internal project aimed at facilitating prospective students’ decisions about studying with us – ambassadors are not remunerated but decided they wanted to vouch for us and their respective programmes of study. So we must be doing something right! 

We asked a few of our female ambassadors questions about their personal journey before they enrolled for the Master’s programme, their challenges, their struggles and joys. Though we are dedicating this series to women out there, men can probably benefit from the advice too. 

Let’s meet: Renata Takac

Vidhi Kapoor (VK): Who you are, really?  

Renata Takac (RT): Excellent question! I was born in ex-Yugoslavia – now Croatia and spent my childhood in Pakistan. I travelled quite a bit and loved discovering other cultures. I dedicated the first half of my professional life to corporations (marketing and sales), and the second one, since 2006, to human resources and organizational development.  I graduated MALIC [Editor’s note: Master of Arts in Leading Innovation and Change] in 2013, and my next huge step in professional development is a Diploma in Integrative Psychotherapy, which I started three years ago.  

Personally, I am a mother of a grown-up daughter, a wife and a friend. I enjoy sports – I was a marathoner once upon a time, and now I swim, row, etc. I love singing, travel, books and movies and many more. In agreement with this question – who I really am – I enjoy discovering who I am, really, apart from all the mentioned functions and roles.

VK: Which programme did you do? Why? 

RT: I did MALIC, because leadership was my primary interest at that time, and change and innovation were bonuses 🙂 

VK: What was the driving force behind your enrolling for an online degree? Who inspired you? What motivated you? 

RT: Actually my path towards MALIC was several years long – I was looking for a program that would be a good match with my job (coaching, mentoring, training, etc.) and at least partly online. After I chose MALIC, I needed the money to fund it 🙂 so it took me some time to earn it. Finally, after I enrolled, I spent the first several weeks working in Malta; so the start was fiery, but I fell in love with the program and that was it! It’s perhaps an interesting fact that I enrolled in 2011 when I was in my prime – 48 years young. 

VKWhat were the thoughts/situations/people/challenges holding you back from starting (if any)? How did you overcome them? 

RT: I partly answered this in the previous question; once I decided that MALIC was my choice, the only obstacle was money. But I was lucky enough to be able to earn it, and I had my family’s support regarding the idea that such money is well invested.  Besides that, the program, of course, required the time and effort. However, it was such a perfect match with my professional interests that I did it with pleasure. 

VKDo you feel there are unique challenges women face when deciding to get back into education? 

RT: Of course, many. From my experience, I was able to enroll in such a challenging program only after my daughter grew up and I left my previous corporate job. I can imagine it could be much more difficult if I had to fight opposition from family members, or similar. 

VK:  Anything else you would like to add that could help with the goal of increasing women’s participation/access to a Master’s degree? 

RT: I remember one of our female colleagues telling me at the end of the York module [Editor’s note: a one-week residential (face to face) module during an otherwise fully online programme] that she was greatly encouraged to remain with the programme. Before coming to York she was not sure she can continue with the studies and graduate, but that week strengthened her resolve.  

Perhaps sharing other female students’ experiences can encourage others in their belief that they can. 

VKWhat surprised you the most when you started your studies? 

RT: The freedom – the choice of when, how to learn, etc. was great! Furthermore, the teachers’ support and respect for our previous knowledge and experience. 

VKAny particular challenges to being a woman and studying online, or do you think all students face the same ones? 

RT: I did not notice any gender-specific challenges regarding the online study. On the other hand, I did notice that all our professors were male. 

VKWhat is the single most important thing you learned during the programme? 

RT: Oh, that is a difficult one. Perhaps the notion that I can do it! Besides that, the whole programme was so packed with intriguing, real-life related, 21st-century ideas and knowledge. For instance, the idea of ongoing change we discussed in 2012 really quickly transferred to today’s VUCA world. 

VKHow did you balance work and studies? 

RT: At the time of my studies I worked mainly on projects, so I was able to adjust the work to MALIC deadlines. However, now that I think about it, today I work 9-hours workdays and I still manage my psychotherapy studies… so I guess it’s a matter of motivation and dedication. 

VK: What’s new in your life since graduating/starting your studies? Any visible impact already? 

RT: It is important to me that I can support my competencies with a degree in leadership. For many of my clients, a recent master’s degree is decisive because it signifies knowledge in recent leadership studies. 

VKAnything you are doing differently now because of the things you learned? 

RT: Many things – starting from reading (I don’t feel pressure to read the whole book or paper anymore in case I need only part of it), critical thinking, up to the content of my training, the leadership models I mention to my coaching clients, etc. 

VK: Do you feel that getting a Master’s degree or doing other online programmes can reduce gender discrimination in the workplace? 

RT: I would say yes. As long as any program is more accessible, it means it is even more accessible to women, due to usual restrains (demands of the job, family life, etc.). The connection between a Master’s degree and better job opportunities is positive, I guess. 

VK: Imagine you could send a message back in time to your pre-degree self: what would it be? 

RT: 1. Enjoy yourself! It is demanding and stretching but at the same time an enjoyable experience. 

2. Use the chance to communicate with the professors. They are great and can help you immensely. 

3. You’ll make some long-term friends (Bert Lee, Brenda Jiaying Hobin, looking at you!) 

4. Make your study visit to York close to the end of the programme. You will know much more and be closer to your research and thesis. 

VK: Imagine you could send an object back in time to your pre-degree self: what would it be? 

RT: My witch doll. It is not only a symbol of female power but the message to myself: Be yourself. You’re a survivor!  

Hope you enjoyed reading the first blog in the series celebrating womanhood. I really hope her story draws inspiration and courage in you to take the next big step to transform your career and make your own mark. Just like Renata, you will learn that yes, you can do it! And as she rightly points out, we also believe that sharing other female student’s experiences can help others strengthen their belief that they too can! So share your experience here and let your story be an inspiration for many women Master’s aspirants. 

Next week we will talk about Derrylee M. Rankin, another MALIC graduate and PG Diploma holder in International Commercial Law, sharing her story, so stay tuned! 

P.S.: In case you are wondering, Renata’s MA programme was transitioned into an MBA in Leading Innovation and Change.

Feb 29th – an opportunity to reflect on 4 years’ worth of learning?

2020 is a leap year and Saturday, 29th of February marks the leap day: an extra day in our lives that we encounter every four years. Walking through February 29 is almost like walking through a rare portal that is only accessible to us every four years. Well, when I dug a little deeper into the history of how we actually came to have 29 days in the second month of the year, I found some very interesting facts about this day.

The history of Feb 29th (and/or of Feb 28th for that matter)

A leap year was needed to correct calendar drift because the Earth orbits the Sun every 365.242 days, a number that is fairly difficult to accommodate on a calendar. And it was a lot of trial and error before the world could settle for the modern-day leap year system. Many ancient cultures had taken on to the practice of adding extra days, or even months, to round out the calendar year.  

The National Geographic News explains the Roman civilization would add months to try to correct the drift of the lunar calendar. But this system was sloppy. In the modern sophisticated society, all kinds of things such as paying rent or interest accruing on loans would all mess up.  

Egyptians were the first to determine the true length of the solar year and brought the reformation. Egypt adopted a leap-year system, with an extra day every four years, during the Greek rule of the Ptolemaic Dynasty (305 to 30 BC).  

In 46 BC, the Julian calendar came to be used as a reformed calendar after what came to be known as the Year of Confusion. But there was an inherent flaw that caused the drifted Julian calendar to drift 10 days by the late 16th century.  In 1582 the Gregorian calendar was introduced by Pope Gregory XIII, and it slowly but surely became the main calendar system for most of the world. 

Now you might be wondering why I am talking about the history of leap years? Well, apart from its historic relevance, I consider the leap days significant as the day of reflection and reminiscence.

A day for reflection

A wise person would say, don’t live in the past nor the future, stay in your present. However, it is important to foresee the future to identify the goals you want to achieve and reflect on the past to see how far you have come along your planned path, appreciate your achievements, recognize the pitfalls and improve upon them.  

Reflection is a key part of learning – it is not dwelling or beating yourself up for past events, but rather recognizing the pros and cons of past experience. Standing on the leap day today, I would like to take this opportunity to highlight the achievements and memorable moments for Robert Kennedy College and its exclusive partners, during the last 4 years of imparting Swiss quality education online.

Scroll through the slides to see some of my favourite highlights of RKC history..

  • Celebrating 50 years of University of Salford

To top it all here’s a short University of Cumbria 2019 graduation video. I hope this inspires you to take the walk as a proud master’s graduate yourself one day (hopefully before the next leap year in 2024!)

So I would encourage you all to take the opportunity that this great day, that comes once in 4 years, has to offer. Reflect, plan, set your intentions and take the plunge! For any guidance that you might seek on our Master’s programme, just reach out to our dedicated education advisors

Happy Leap Day! 

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!