UNC Kenan-Flagler Business School started its new online MBA program this week with a welcome gift: a mostly positive write-up in the Wall Street Journal.
The must-read newspaper for corporate executives noted that UNC is making a "risky online bet," with the "first program of its kind from a top-20 U.S. business school." One big risk is overcoming the stigma that some online MBA programs "are of low quality or aren't as competitive as a regular full-time program."
But the story also predicts that UNC's strong reputation and high admission standards will appeal to busy executives, especially in areas of the country that don't have an MBA program nearby.
"UNC school officials believe that in 20 years most business schools will want to get into this space and see the program as an opportunity to give the school the global reach viewed as particularly critical in today's business environment," the Wall Street Journal wrote. "The school is also betting that some companies will pay for employees to attend classes virtually if a good local option isn't available."
UNC announced the MCA@UNC program last fall. Its first class includes 19 students, who will shell out $89,000 for the two-year program. That total is less than the traditional program's price of $98,000 for nonresidents. Most of the course work is done online, but students are required to attend several face-to-face sessions.
“We are extremely proud of the inaugural class, who are both pioneers and our partners in shaping the future of global business education,” Doug Shackelford, MBA@UNC associate dean, said in a prepared statement. “We carefully selected them based on their academic credentials, career success, diversity of experience and fit with the UNC Kenan-Flagler culture.”
N.C. State's College of Management is starting a similar online program this fall. But other top schools, such as Harvard and the University of Chicago, say that don't have plans to follow for now, the Wall Street Journal reports.
