KAIST College of Business, renewal of the school curriculum focuses on Techno MBA2018-07-20Hit:1141
Strengthen education in the areas of Business Analytics and Entrepreneurship
In order to take advantage of the opportunities offered by the fourth industrial revolution which will dramatically transform management, economy, and industry, KAIST College of Business announced that the school has innovated its curriculum focusing on the Techno MBA program.
KAIST has strengthened the curriculum for 'Business Analytics' and 'Entrepreneurship', which are requirements for developing the core competence each student needs to capture new opportunities and succeed as an innovator in the era of the 4th industrial revolution.
KAIST College of Business has been pursuing convergent management education for the past 20 years with the aim of fostering individuals who are versatile in both technology and management knowledge. KAIST College of Business, which has traditionally emphasized quantitative analysis and IT management, explains that the school will train management specialists who are capable of decision-making based on big data through curriculum renovation.
KAIST College of Business will expand business analytics education to various industrial fields including marketing analytics, SCM and logistics analytics and health analytics. By analyzing real field data and carrying out projects that help management decision-making, KAIST plans to cultivate professionals with practical ability.
As part of this plan, Techno MBA, the first full-time MBA program in Korea, reorganized its curriculum for training leaders who can understand both technology and management applicable to the changing competitive environment. Business analytics will be required to establish data-driven business strategies in a complex competitive environment. KAIST MBA program will designate business analytics as a required course and develop the Business Analytics Concentration program that will consist of various courses such as high-tech marketing. Through well-established coursework, students will understand the basic concepts of business analytics necessary for scientific decision and strategy development.
The information media MBA (IMMBA) is also focusing on business analytics to enable students to derive data-driven business insights from large-scale data within the IOT-based environment. In order to improve practical skills and provide integrated insight, IMMBA trains students in areas ranging from designing databases to collecting data and conducting statistical analysis. The Finance MBA (FMBA) program also reinforced its curriculum for financial programming and financial data analysis to train financial professionals with the ability to analyze financial data in response to the rise of the Fintech industry.
KAIST College of business has recently signed an MOU with Samsung SDS to cooperate in joint research along with an exchange program in AI-based data integration analysis platform. The two organizations that have pursued innovation in IT education together will create synergies.
In addition, KAIST College of Business has argued that an ‘entrepreneur type of employee’ rather than a `managerial type of employee’ is more important in the future management environment. In order to nurture entrepreneur type talents that make attempts through exploration and experimentation, and create new opportunity out of existing rules and frameworks, KAIST designated ‘Entrepreneurship’ as the core curriculum and put emphasis on educating the students to develop the attitude and ability to be entrepreneur type managers or intrapreneurs.
First of all, the "Entrepreneurship and Corporate Venture Area" was established in the Techno MBA program, and subjects including entrepreneurship, new business development, venture growth management, and venture capital were designated as part of the core curriculum. KAIST plans to cultivate start-up specialists including venture capitalists and start-up entrepreneurs but also plans to train intrapreneurs who can lead the development of new businesses in existing companies and large corporations. In addition, the Social Entrepreneurship MBA (SE MBA) is a program that fosters social entrepreneurs who want to solve social problems by utilizing business mechanisms. SE MBA strives to expand start-up programs and motivate students. For instance, “KAIST start-up awards”, which was launched last year to revitalize start-ups, is receiving a favorable response from students and alumni.
Kim Young-Bae, Dean of KAIST College of Business, said, "KAIST College of Business has emphasized convergence education combining technology and management from the beginning of its establishment and this education policy is attracting attention because it provides differentiated competitiveness today. By strengthening our business analytics and entrepreneurship curriculum, we will strengthen our position as the leading educational institution in the era of the fourth industrial revolution."