The Asian Institute of Management (AIM) has created the new
position of vice president for institutional management to boost
revenues and ensure sustainability.
AIM
president Steven DeKrey on Monday said a female executive has been
chosen for the post whose name will be announced upon her official
appointment.
The plan is to reduce Masters in
Business Administration enrollment from two to a single section of 70
students for the September 2013 registration and accept only those who
“have the best social, emotional and intellectual capacities and are
attractive to our recruiters,” DeKrey said.
There is also a risk of a drop in enrollment as the institute increases
its tuition from $24,000 to $31,000. “Our current tuition is underpriced
for the standard of education that students receive,” DeKrey said. It
will further be raised to the Asian average of $45,000 in 2015.
This is where the new vice president comes in to implement a systematic
approach to raise revenues as the AIM tries to get into the Top 5 list
of business schools in Asia. DeKrey said they “were not professionally
fund-raised before and the new vice president will grow a team to gather
support for our strategies.”
To increase
student diversity by attracting students from Asian and other Western
cities, DeKrey said they will be offering “a significant amount of
scholarships in the MBA program. For most applicants who are accepted,
the scholarship will exceed the price increase.” He added that every
student will get a scholarship but the amount will be based on merit.
AIM has other modes of student assistance including the Bank of the
Philippine Islands or BPI-AIM Student Loan Facility for Filipino
Students and qualifications for US student loans for Americans.
Raising funds for scholarships will be the responsibility of the new
vice president through “increased donor engagement.” AIM revenues
presently come from tuition, alumni support, donations and grants.
DeKrey said higher education is needed to acquire skills “not learned on the job.”
AIM Dean Ricardo Lim noted that the school supplies managers with “the discipline and structure to grow a business.”
As for its curriculum, Lim said emphasis would be placed on specialized skills for temporary postings.
There will be more coaching in personal development to prepare students
for lifelong learning, especially for those who will keep returning to
school. This will enhance the employability of their graduates to higher
management positions.
To keep abreast of Asian
realities, there will also be further stress on financial management,
information technology, and service operations since graduates will be
doing business across borders.
They also want more Asian students and “voices from other geographies” to enrich the learning experience and build networks.
Lim said they would try to inculcate” social entrepreneurship and
cultural awareness” to produce responsible leaders who are
“multi-stakeholder-oriented.” This would include corporate social
responsibility as well as ‘green’ and energy concerns.
“Profitability is not a goal for business schools,” DeKrey said,
“sustainability is.” He added that they are planning to increase their
marketing budget to broaden international exposure. — VS, GMA News
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