7- Lifelong Learning and Professional Development : The proposed MBA program provides access to retolling, reskilling, and professional development opportunities for learners including alumni, community college graduates and the broader community to stay updated with the evolving industry trends and skills requirements. 8- Sustainability and Environmental Stewardship : One of the program learning goals is to create sustainable solutions for complex problems in a dynamic business environment. The program will educate learners on the importance of sustainability and environmental stewardship in business, and promote green business practices and supporting research in sustainable technologies and processes. This also includes impact investing initiatives. This is aligned with CWU’s mission of fostering sustainability and CB’s vision that “enables learners to … contribute to building a sustainable and equitable future in a rapidly changing world.” 9- Technological Advancement and Digital Transformation : The proposed MBA program will educate students on leveraging technology and digital transformation to drive efficiency, innovation, and competitiveness in business. The 2023 GMAC Corporate Recruiters Survey U.S employers value the future importance of tech skills, and shows 74 percent of employers believe that AI and machine learning are important skills for business school graduates to have and that these skills will only grow in importance over the next five years. Business schools shall be able to respond to that demand by equipping students with the necessary skills. Assess and provide a narrative description of resources that will be needed to implement the program, as well as ongoing needs (new faculty, equipment, workload, etc.). Costs: Overall costs of $300,000; $322,882; and $374,791 for the first 3 years includes personnel costs- non-tenure faculties (for first three years), corporate fellows, professional staff, and program director; and operating expenses- executive skill building workshops, orientation, capstone, marketing, database, networking events and accreditation. Revenues and net income: The creation of the MBA degree will increase enrollment and bring new graduate students to CWU. Initial recruitment will be current graduating seniors and alum in CB, CEPS, and Community Colleges (BAS programs). Projected enrollment in the proposed MBA program (fall and winter classes) is 23 FTE students in Year 1, 28 students in Year 2, and 28 students in Year 3. Based on 45-47 credit hours required for a general MBA, this amounts to $123,077 in Year 1, $139,319 in Year 2, and $117,335 in Year 3 in net income to the university based on 2024-25 graduate tuition and fees for a full-time student. The breakeven point is estimated at 14 FTE student. Please see financial proforma for details.
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