Sales and Sales Management Blog

June 30, 2010

Guest Article: “What Do Formula 1 Drivers and Great Sales Professionals Have In Common?

Filed under: career development,Sales Process,Uncategorized — Paul McCord @ 9:16 am
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What Do Formula 1 Drivers and Great Sales Professionals Have In Common?
David Brock

For sometime,  I’ve been haranguing readers about the importance of the selling process.  Even in a recent post, I considered use of the sales process as a condition of continued employment.  I’m not softening my position on this, the sales process is the cornerstone to personal and organizational performance excellence in selling. 

However, the posts have generated a good amount of discussion and emails.   Some have suggested the process removes creativity and innovation.  Some have said the highly scripted nature of a sales process is not conducive to the highly customer focused/responsive approach to selling we need to be executing.  My colleague, Andy Rudin, has made some outstanding arguments about the need for sale professionals to be able to “call audibles, deviating from the game plan” in order to be responsive to the situation.  I tend to agree with Andy’s concept.

It seems much of the discussion is about the level of precision and prescriptiveness of the selling process.  I thought it would be useful to provide some clarification.

In the past, I’ve used the analogy of a road map.  A sales process is a lot like a road map.  A map offers directions to get from Point A to Point B, in fact it may offer several options based on different criteria (e.g. Freeways, Surface Streets, Scenic, etc.).  A road map doesn’t describe everything one encounters on the journey.  It won’t describe every pothole, twist or turn.  It doesn’t describe road conditions or hazards that might be encountered along the way, nor does it describe what to do when those hazards are encountered. 

While the road map offers directions to get from Point A to B, it still requires a skilled driver to execute it.  The driver’s skill needs to be much higher, if you want to get between points very quickly.  Then you add traffic, it takes even more skill to navigate, while going very fast, with dynamic and changing traffic conditions.

Let me extend the example, I like watching Formula 1 racing.  Anyone that can drive, can drive a Formula 1 race course.  But to drive a Formula 1 course at 200mph, dealing with other skilled drivers, dealing with changing road, car conditions, accidents, and winning at the end requires the highest level of skill and performance.  Formula 1 drivers, think and analyze—very fast, they adapt and improvise quickly.  They change to meet changing conditions.  Above all, they stay on course, that is if they want to finish the race and win.

The sales process is a lot like a map.  It provides general directions, and may even provide options.  But executing the sales process, in the face of changing conditions, while moving at full speed, and beating competition requires the highest levels of skill, performance, ability to “read the conditions,” and adaptability by the sales professional.  The best sales professionals, like Formula 1 drivers, don’t seek to “drive on their own course,”  but learn how to exploit the course/process, adapt it to the current situation and conditions and go on to win.

Formula 1 drivers never blame the course if they fail to achieve goals.  Likewise, great sales people never blame the sales process for failing to achieve their goals.  Great sales professionals know that the sales process positions them to be as effective as possible, but that in the end, it’s all about execution—better, faster, more effectively than anyone else.  They know the execution is not blind, but requires thoughtfulness, adaptation and nimbleness on their part—if they are going to win.

I have a problem with sales processes that try to be overly prescriptive.  Those that try to anticipate everything that can happen on the journey.  Those that try to describe every twist and turn, every possible road condition, every possible situation that can happen in traffic.  It’s impossible.  Those that try to do this usually fail.  They create a process that is overly complex, too cumbersome, unresponsive, and slow.

At the risk of alienating some of my audience, I think overly prescriptive, highly scripted sales processes demean the sales professional.  The script the sales person has to follow without any deviation or adaptation to the system removes the real time thinking, analysis, and adaptation that is critical to winning fast, efficiently, effectively.  I tend to think that organizations that put this type of process into place do it because they either do not trust their sales people, they do not want to invest the time to train sales people, or they are looking for the lowest level of skills.  These jobs will disappear—they are better executed through the internet or through robots.

Selling is complex.  To be effective, we have to have a road map or a course.  To win, we have to think, analyze, adapt, and execute at full speed.  Great sales processes enable great sales professionals to execute and win like Formula 1 drivers.

Dave Brock is President of Partners In EXCELLENCE, a global consulting company. Partners In EXCELLENCE helps its client achieve the highest levels of performance in developing and executing business, sales, marketing, and leadership strategies. Follow Dave on his blog at http://partnersinexcellenceblog.com, on twitter @davidabrock, or contact Dave directly at dabrock@excellenc.com

June 28, 2010

Guest Article: “Dear Customer, Meet Me on Twitter. Dear Vendor, Why Should I Do That?” by Jonathan Farrington

Filed under: marketing,sales,Sales 2.0,selling — Paul McCord @ 1:10 pm
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Dear Customer, Meet Me on Twitter.  Dear Vendor, Why Should I Do That?
by Jonathan Farrignton

It seems that most of the hype surrounding Sales 2.0 has been generated first by software vendors/social media evangelists and now by salespeople – but what do customers make of it all, has anyone stopped to tell them what’s in it for them?
 
Of course all of these tools (not necessarily new tools by the way) will help us find new opportunities, but will they really help us manage our existing client base, after all, CRM in one guise or another has been around since…well, I think I still had hair!

We all know that a vitally important sales activity is that of managing existing customer accounts, to consolidate and grow the relationship. Yet unfortunately, when compared over time, the customers’ interest levels increase while salespeople’s interest levels tend to decrease. This creates a “relationship gap” and is due entirely to complacency. I happen to believe that “complacency levels” are increasing alarmingly, and this goes some way to explaining declining levels of sales achievement.

Another major issue is that too often the salesperson fails to expand his/her “contact base” as this next survey proves, which results in vulnerability and exposure to competitive activity.

Periodically, the Financial Times conducts a survey of British industry to establish how companies go about their purchasing. The survey is very comprehensive, broken down into many kinds of products and services – and I have no reason to suppose that results are exclusive to the UK or Europe.

From a Sales Director’s perspective, these are very worrying statistics

Customer size (Number of employees): Less than 200
Average number of buying influencers: 3.43
Number of influencers visited by salespeople: 1.72

Customer size (Number of employees): 200 – 400
Average number of buying influencers: 4.85
Number of influencers visited by salespeople: 1.75

Customer size (Number of employees): 401 – 1000
Average number of buying influencers: 5.81
Number of influencers visited by salespeople: 1.90

Customer size (Number of employees): 1001 +
Average number of buying influencers: 6.50
Number of influencers visited by salespeople: 1.65

In essence, without a sustained approach to ongoing servicing and support activities, customers that took months to win are ultimately lost because there was a lack of interest from their supplier.

To-days clients/customers are looking for vendors who can be business-partners, who are willing and able to share risks and who are able to properly manage the entire sales process.

They are also looking for business partners who will sell to them how they wish to be sold to – and that may not include via a Sales 2.0 or a “Social Media” approach.

Fact: It now costs fifteen times as much to locate and sell to a new customer as it does to an existing one – compelling reasons to build brick walls around our client base, before  promiscuously chasing after every half-chance? It may not be as exciting, but be assured, it is a great deal more profitable.

“Dear Vendor, You probably will not see me on Twitter – now what?”

Jonathan Farrington is a globally recognized business coach, mentor, author and sales strategist, who has guided hundreds of companies and thousands of individuals around the world towards optimum performance levels. He is Chairman of The Sales Corporation, CEO of Top Sales Associates and Senior Partner at The JF Consultancy based in London and Paris. Early in 2007, Jonathan formed Top Sales Associates (TSA) to promote the very best sales related solutions and products. TSA is now a subsidiary of The Sales Corporation, based in London and Paris.  Visit his website

June 25, 2010

Are You a Service Provider? Don’t Miss this Free Report

Filed under: sales,selling — Paul McCord @ 8:09 am
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Complimentary Report: Forget Everything You Know About Sales and Begin to Sell Without Selling

Free Report: Forget Everything You Know About Sales and Begin to Sell Without Selling

You didn’t start your career and become a service provider so you can spend your days selling. However, at some point in every consultant’s career they realize that if they want break off on their own or advance in their career, they need to be able to bring in their own book of business.

But you weren’t trained to sell, and the sales tactics and techniques you read about feel over the top and sleazy. The problem is the tactics that work for selling products don’t work for selling services.

There is a better way to learn how to sell and bring in more business.

To help you make the transition from great service provider to great salesperson, RainToday developed the FREE report, Forget Everything You Know About Sales and Begin to Sell Without Selling.

This report is free for you to download now.

In this 27-page report you’ll learn:

  • How the same skills that make you a great service provider can make you great at sales
  • How to avoid being “salesy” (which will lead to more sales)
  • A proven process that will get you started bringing in more new business today
  • Whether or not cold calling is dead
  • How to uncover the full set of your clients’ needs (most sales advice gives you only half of the story)
  • The best-kept secret in leading successful sales conversations

>> Click here to download Forget Everything You Know About Sales and Begin to Sell Without Selling

Why are they giving this valuable information away?

Well RainToday just opened enrollment to their online training program, Selling Consulting Services with RAIN Selling.  This online program teaches you to quickly and easily apply the same skills that make you a great service provider to your selling efforts, making sales more comfortable and more successful.

“Selling Consulting Services with RAIN Selling has given me greater confidence and comfort with selling my services. The program structure and tools are logical and practical, and have helped me learn how selling can be a natural extension of who I am and what I have to offer.”

- Jeremy Bromberg, Bromberg LLC

There are 6 modules in the program, teleseminars, expert forums, and over 25 training lessons covering everything from developing your value proposition to starting sales conversations with rapport to getting in front of the economic buyer to crafting winning solutions and closing the deal.

Next to having your own personal business development coach or mentor it’s absolutely the best way to boost your selling skills.

“I’ve done many online training programs over the past 10 years, and this is, by far, the most well thought-out and best presented program I’ve seen.”

- Ghennipher Weeks, Applied Connectioneering

But you must act fast, the doors close on July 2.

So go check out the report, Forget Everything You Know about Sales and Begin To Sell Without Selling and then go look at the details of the program at Selling Consulting Services with RAIN Selling

June 22, 2010

You Want The Key to Sales Success? People Buy You

Filed under: Book Recommendations — Paul McCord @ 10:54 am
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What is most important to your success in sales?

Many people will tell you that it’s all about crafting the right pitch, making more calls, or having a powerful closing technique. Some will say that it’s your education, experience, or product knowledge. Others argue it’s your company’s reputation, product, price, or guarantee. There are even those who say you must invest in the latest CRM software, Sales 2.0 tools, or hottest social media.

My friend Jeb Blount says the answer is: none of the above!

http://www.PeopleBuyYou.com

An expert with decades of experience in the sales trenches, Jeb believes that success is powered by your ability to solve the problems of your customer. When you solve problems, your job is done, and the sale is made. But how do you get to that point?

Successful sales are built around a solid knowledge of people—how they are motivated to buy and how they can respond positively to the right approach. In his new book, People Buy You, Jeb shows you how to build lasting business relationships that allow you to close more deals, retain clients and create the sales success of your dreams.

You’ll learn how to:

  • Anchor your business relationships and create loyal customers who will never leave you for a competitor
  • Open the door to stronger relationships that quickly increase sales, improve retention, increase profits and advance your career
  • Avoid the pitfalls of three common relationship myths that hold most sales pros back
  • Make instant emotional connections that eliminate objections and move buyers to reveal their real problems and needs
  • Build your personal brand to improve your professional presence and stand-out in the market place

People Buy You is the ultimate guide to relationships, influence and persuasion in 21st century business. I suggest you check it out here.

When you order People Buy You today, you’ll receive instant access to a bundle of business-building tools from Jeb’s friends, including one from me!  Take a look now.

For those who get in on this make sure to read Chapter 7: “Create Positive Emotional Experiences” at least twice – it will change how you sell forever. http://www.PeopleBuyYou.com

June 21, 2010

Three Keys to Making a Networking Event Produce Real Value for You

Filed under: Networking,prospecting,sales,selling — Paul McCord @ 3:24 pm
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“Mr. McCord, I’ve been faithfully attending at least two networking events every week for the past six or seven weeks but I’m not meeting enough prospects to make it worth my time.  Do you have any suggestions?”

I received the above email last week from David who sells accounting and HR software to companies with from 200 to 750 employees. 

After exchanging a couple of emails with David I discovered:

  • David has no rhyme or reason to where he networks—if there is a networking event, he’ll be there
  • His ideal contact is with a senior manager in accounting or IT or the company CEO
  • His sales cycle is typically anywhere from 4 to 12 months
  • He believes he needs to meet four or more quality contacts per networking event to make it worth his time

Like many, if not most, sellers, David has violated three keys to having a great networking event:

  1. Only Network Where Your Prospects Gather.  David is ready and willing to network but he isn’t disciplined in selecting which events to attend.  Most general networking events are not appropriate for the majority of us.  General networking events tend to bring out a large number of salespeople and few buyers.  Unless I’m selling something of general need such as autos, office supplies, electricity, or such, I have only a very small chance of meeting a real prospect.  Worse, even if I’m selling general use products or services, most of the people I’ll meet at general networking events will be other sellers looking not to buy but to sell. David—and you—should only be attending events where a large number of his prospects are likely to gather, i.e., specific business and industry association events where the business or industry is a prime prospect for his products or services.  He might only be attending one or two events a month, but he’ll be spending his time getting to know real prospects, not other sellers.
  2. Know Why You’re There.  David goes to networking events with the hope of meeting a decision maker and gaining their interest in his products or services—a totally unrealistic goal.Based on David’s ideal contact being a senior IT or accounting manager or the CEO of the company, it is not realistic that he is going to connect with four or more of them at a networking event.  Connecting with one or two would be close to a miracle because people in these positions from companies the size David targets are not often at these events.  Some are.  Most aren’t.

    So if David isn’t there to meet the potential decision makers he ultimately wants to meet, why is he there?  To meet contacts within the company who can help him meet the decision makers he ultimately wants to meet and to learn as much about the company and their potential needs for his products and services as possible.  His goal is to find a connection into the company—period.  He isn’t there to sell.  He isn’t there to meet the decision maker (if he does that is just a bonus). 

    In addition, thinking that he must make four or more quality connections to make it worth his time is also unrealistic.  His average sale is approaching six figures.  Finding four or more quality prospects within a one or two hour period even when networking where his prospects gather is simply unrealistic.  He cannot possibly find and then spend time to begin to establish a relationship with four or more quality connections in just a couple of hours. Meeting one quality connection makes a great event—two would make for a huge event.

    Why do you go to networking events?  Do you have realistic goals or are you, like David, discouraging yourself because your expectations are simply not within reason?  Selling at a networking event isn’t realistic.  Making connections is.

  3. Make the time you spend with prospects about them, not you.  Since you can’t sell at a networking event, why try?  Instead of doing what everyone else is doing—trying to get everything out about what they do and what they think they can do for the person they’re speaking to—why not spend the time doing something of value—qualifying the prospect.  You can’t sell at an event but you can qualify potential prospects.  Instead of running off at the mouth about yourself, turn the tables and let the other person tell you everything there is to know about themselves and their business. In a networking situation you can learn a great deal about your prospect if you’ll just let them talk.  This isn’t a sales situation so they’ll be far more open and unreserved.  You have the opportunity to ask questions you might not have the opportunity to ask later. 

    Resisting the urge to talk opens information doors that are invaluable.  Instead of talking about yourself, your company, your products and services, learn to ask quality questions that will give you the information you need to qualify prospects and make sales.

David has realigned his networking activities based on the above three networking keys.  He’ll being attending far fewer events but will be spending his time where his prospects are instead of attending an event just to chalk up another “prospecting” opportunity.  David will see his sales increase and his frustration decrease.  You can too if you implement the above networking keys.

June 16, 2010

4 Referral “Laws” You Must Respect If You Want to Become Referral-Based

Filed under: marketing,prospecting,Referral Selling,sales,selling — Paul McCord @ 4:45 pm
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Over the years I’ve worked with thousands of sellers who have sought to move their sales business from a catch-as-catch-can prospecting business to a solidly referral-based business.  Most have been successful, but a few have refused to acknowledge and adhere to four basic “laws” that are critical for becoming referral-based.

  1.  Your Client Does Not Owe You Referrals.  So often I hear trainers and managers tell sellers to expect referrals because clients owe them for doing a good job.

     Bull.

    Your clients paid for the products or services you rendered.  They owe you NOTHING.

    That doesn’t mean you can’t get lots of great referrals.  You can.  But instead of expecting them because they are owed you, let your client know that your business is based on referrals and that you want to earn their referrals.  Then ask them what they expect to happen during the course of the sale.  Once you know what they expect, ask them that if you deliver on their expectations would you have earned their referrals.  If your client knows you want referrals and you make it clear how you will earn them, the majority of your clients will agree to give them once earned.

  2. If You Want Great Referrals, You Will Have to Uncover Them for Your Client.  Most clients really have no idea who to refer to you even after you’ve defined for them who your ideal client is.  They’re not in your business.  They don’t know all of the things you can do for a client.  It isn’t their job to know who to refer to you—it’s your job to help them make great referrals.

    Instead of waiting and hoping your client comes up with a quality referral or two at the end of the sale, take the time during the sales process to find out who your client knows that you know you want to be referred to and then, instead of asking a lame question like, “Mr. Client, do you know of anyone else that might be able to benefit from my products or services?,” ask for a referral to the specific person or company that you’ve discovered your client knows that you know you want to be referred to.

    Yes, this is much harder than just asking the general referral question, but it is many times more effective.  It takes detective work.  It takes time to learn to be constantly on the lookout for who your client knows.  It takes learning how to listen, to ask questions, to observe, to make all of your senses aware of what’s going on.  But the payoff is a strong, referral-based business.

  3. A Name and Phone Number of a Prospect is Not a Referral.  So, you worked with your client and got the name and phone number of a potential prospect from them.  Do you have a referral?  No, you have a name and phone number of a potential prospect.

    A referral is NOT simply a name and phone number.  Just getting a name and phone number is little better than making a cold call to the person.  Instead of a name and phone number, you want a personal introduction to the prospect from your client.

    Again, this is more difficult than just getting a name and number and picking up the phone to call them.  A personal introduction can be through a letter of introduction from your client (that you write for the client’s signature), a phone call from your client to the prospect introducing you, or a lunch or coffee meeting with your client and the prospect.  However you manage it, it must be a direct introduction from your client to prospect.

  4. Referrals Are Not Always Good.  Not all referrals are of the same value.  Certainly you know that.  But do you know that some referrals can actually harm your prospects of working with a prospect?

    How so, you ask?

    We all have clients who have referred us to people who trust and respect the client.  When we meet these referred prospects we are working from a position of strength because some of the trust and respect they have for our client is imbued to us simply by being referred by someone they trust and respect.

    But the opposite is also true.  Sometimes clients refer us to people who distrust and disrespect our client.  In those cases we are working from a position of weakness when we meet these prospects because some of the distrust and disrespect they have for our client is imbued to us also.  The more they distrust and disrespect our client, the weaker the position from which we start—sometimes to the point that we are better off not having the client introduce us.

    What is your client’s relationship to the referred prospect?  Don’t know?  Better find out before you ask to be introduced or you just might be surprised with the situation you find yourself in.

You can become a referral-based seller if you learn the laws of referral generation.  It takes a lot more than asking some weak “referral” question.  It means really getting to know your client.  It means really earning the referrals.  It means involving your client in the process while making giving great referrals easy for them.

Pay attention to these laws and you’ll find it a lot easier and more fun to get great referrals—and that’s a whole lot easier than pounding the phone cold calling.

June 15, 2010

Need help reaching today’s frazzled prospects?

Filed under: Book Recommendations,prospecting — Paul McCord @ 9:16 am
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One of the toughest challenges you face right now is dealing with crazy-busy prospects. They rarely answer the phone or respond to your emails. They’d rather stay with the status quo than change. And they’re always getting distracted.

When people have too much to do and impossible deadlines, it changes how they make decisions. And, it changes their expectations of you too.

My good friend, Jill Konrath, author of the classic “Selling to Big Companies,” just released her new book, “SNAP Selling: Speed Up Sales and Win More Business with Today’s Frazzled Customers.”

I highly recommend it. Jill knows how to capture and keep the attention of hard-to-reach prospects. And, she shows you how to help people make decisions a whole lot faster too.

To learn more about SNAP Selling & to download two chapters, just click here: http://www.SnapSelling.com.

You’ll also be able to download some cool new sales tools from Jill – no strings attached. Again, click on http://www.SnapSelling.com right away.

June 14, 2010

A Short Lesson in Attaining Excellence

Filed under: attitude,sales,selling,success — Paul McCord @ 12:54 pm

Like most sales trainers and consultants, I am always looking for new lessons to learn and effective ways to communicate those lessons.  Sometimes the lessons are learned by watching and analyzing others; sometimes the lessons are far more personal.  Often the personal lessons provide great examples for communicating the lesson to others.  Such a lesson took place a couple of days ago.

My wife and I have just moved into our new home and that, as anyone who has ever moved knows, demands everything be cleaned as it is unpacked or as it is being arranged in the new home.  While cleaning a large curio cabinet, Debbie, my wife, had the opportunity to remind me of just how little it takes to go from satisfactory to excellent in one’s work.

Curio cabinets are about three quarters glass and have a large mirror in the back of the cabinet to boot.  Cleaning all of this glass and mirror was my job.  I spent about 20 minutes spraying glass cleaner and then wiping with paper towels.  Paper towel after paper towel gave its little life so that the curio cabinet might shine once the light inside it was turned on.

A few minutes after I had declared the curio cabinet done, Debbie went over to inspect my work.  I was off blissfully going about my business when I heard a voice bellow, “Would you come here a minute?”  Why that didn’t sound like the voice of my sweet petite bride at all.  It wasn’t.  It was her cleaning perfectionist alter ego.

When I got back to the den, Debbie was standing at the cabinet, glass cleaner and paper towel in hand.  I knew what was coming. 

“How can you call this clean?” she asked.  I knew that whatever answer I gave would be wrong, so I chose to assume it to be a rhetorical question.

“Are you blind?”  Now this one was one I could handle since I am, in fact, blind in my left eye.  I knew, however, if I answered “yes,” I was simply asking for more trouble.  Again, the right answer was no answer.

“Can’t you see those streaks?” Debbie demanded as she was attacking them, taking her frustration with me out on them.

Now I had spent 20 minutes dealing with the glass and mirror of this cabinet.  I had dealt with finger and palm prints, tape residue, and what appeared to be some dried coke spots.  I had put in the effort to get the cabinet 95% clean.  My efforts for most people would have been satisfactory.  Debbie isn’t most people.  She expected excellence and I hadn’t delivered. 

OK, I admit I had stopped short of cleaning excellence and deserved to have it pointed out.  But the real slap in the face was that when Debbie attacked the problem it took her only a minute or two to take my work from satisfactory to excellent.  I had done all of the hard work.  I had put in the effort to get the cabinet to the point where it was right on the verge of being perfect.  Then I stopped.  When Debbie came behind me it took her only seconds to attain cleaning excellence.

So what has cleaning a curio cabinet to do with sales?  Everything—and not just about sales but about life.

That little extra effort Debbie put in really is the difference between being average and being exceptional–no matter the task you’re engaged in. 

Most of us in sales do a quite satisfactory job. 

Few of us are excellent.

 In most cases it isn’t a difference in skill or knowledge or resources.  It’s a difference in attitude—between those of us who are willing to settle and those who insist on investing the extra little bit to go from satisfactory to excellent.  The time and effort differential is relatively small—a few seconds in essence—while the effect difference it enormous.

Are you satisfied with being satisfactory or are you committed to being excellent?

June 1, 2010

Guest Article: “10 Predictions for the Future of B-School”

Filed under: Uncategorized — Paul McCord @ 12:27 pm

10 Predictions for the Future of B-School
by bestcollegesonline.com

Business schools are in a time of change right now. With the financial crisis, many schools feel that it’s time to overhaul the curriculum and make a fresh start for students of the new economy. What exactly does the future hold for business schools? Find out our predictions here.

  1. A shifting focus emphasizing leadership: Many critics claim that MBA programs are too heavy on theory, and not on the leadership needed for a global environment. Currently, several top MBA programs have reflected this change, and others, including Harvard, are working on it as well. MBA students can expect more development in particular skills, while still learning important theories.
  2. More creativity: Students in MBA programs often become hypnotized by their lessons and see them as immutable, rather than something to use as a starting point. The MBA of the future will encourage creativity and the need to explore many different options. You’ll see new ideas, innovation, and creative aversion.
  3. Globalization: Business is more global now than ever, and business schools are reflecting that. Business programs are increasing focus on global studies, and some are even offering the opportunity to study business abroad. UCLA and USC already have programs that collaborate with business schools in Asia which allow students to innovate and learn with other cultures.
  4. More distance learning MBAs: Distance learning MBA programs are on the rise. More and more students are studying all types of classes online, and MBA programs are no exception. Students, particularly working professionals, are taking advantage of the flexibility offered by online MBA studies. In turn, employers are recognizing that an online MBA from an accredited and reputable school is just as good as one achieved full time and on campus.
  5. Risk management will take a front seat: In light of the recent economic crisis, schools are concerned with teaching MBA students more about risk management. It has been argued that business schools and the MBA are a cause of the financial crisis, but schools do not agree. Still, you can expect to see business schools work to be a part of the solution and put more emphasis on teaching risk management.
  6. New deans: Business schools are changing, and many of them are making big changes at the top. Harvard Business School, Northwestern, and Yale School of Management have all selected new deans, and several other schools are expected to follow. These new leaders will be tasked with the responsibility of making big changes in the improvement of the MBA.
  7. Backing off of finance: In recent years, business schools placed a lot of emphasis on making money. Finance will still remain an important piece of business education, but it will serve as one of several important pillars instead of a primary focus.
  8. You’ll get in-depth ethics studies: Critics have railed MBA programs for failing to provide adequate education in ethics. Business schools recognize that it’s essential, and will be focusing more on the ethical quandaries of business leaders without indoctrinating one particular set of values.
  9. Teaching the big picture: Case studies can help students better understand the big picture and see how decisions can make a big impact. Students can expect to find a focus on principles, including judgment, leadership, and values.
  10.  Professionalization: The current business school crisis is sparking big changes, and one of those changes just might be professionalization. Business would be taught as a professional discipline just like law and medicine. Critics propose a sort of Hippocratic Oath of business that would be a code of conduct, along with certification and continuing education. Many believe that professionalization can better serve managers and business education as a whole.

At bestcollegesonline.com, you are free to view their rankings of the best online colleges in the U.S. and find degree programs that meet your needs. All of their listed colleges are accredited institutions that offer reliable degree programs for a reasonable tuition rate.

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