It is expected that the official implementation of the changes to South Africa’s MBA degree, which were announched in November 2012, will take effect in 2016, says private higher education institution Milpark Business School dean Dr Cobus Oosthuizen.

The South African MBA degree is in the process of changing to include more stringent entrance requirements to ensure that the degree remains globally recognised. As part of the larger change in the regulatory landscape, the MBA qualification will move from National Qualification Framework (NQF) level 8 to level 9.

The changes, among others, will imply new admission criteria whereby applicants will require an honours degree or a postgraduate diploma – no longer will a three-year bachelor’s degree be sufficient. These requirements will, therefore, be the same as any other master’s degree in South Africa.

Oosthuizen highlighs that Milpark’s MBA is subject to ongoing review, owing to new processes and local and global comparisons, as an “MBA must be relevant and pragmatic so that it addresses the challenges of the postmodern managerial leader”. As a result, the business school’s MBA now draws on aspects such as environmental awareness and corporate governance.

The school’s continuous review process is bearing fruit, he says, which is “apparent, as Milpark was placed third this year in the overall rankings in the PMR.africa national survey on accredited business schools offering MBA/MBL degrees in South Africa”.

The revised MBA includes practical projects that involve students in communities, as Oosthuizen says social responsibility requires practical experience and not just the attendance of lectures.

As a result, in December 2012, a successful pilot study for an international elective was completed. Milpark Business School, in collaboration with the Indian School of Business, is sending a group of MBA students to Hyderabad, in India, to learn about business in emerging markets.

Further, an elective is being specifically developed for Africa. “We believe that the African continent is going to be a focal point for the next ten years and more,” says Oosthuizen.

By exposing students to different countries, they will be taught to consider issues such as political and financial risks and cultural sensitivity, he adds.

The classes for the international elective started late last month.

Milpark Business School currently has three areas of focus, says Oosthuizen.

The Faculty of Management and Leadership offers the Certificate in Management Development, the Advanced Diploma in Management, the Bachelor of Business Administration, a general BCom degree, the Postgraduate Diploma in Business Administration and the MBA.

The Faculty of Banking offers the National Certificate in Banking Services Advice, the Certificate in Sales, the Certificate in Bank Credit, the Higher Diploma in Banking and a BCom degree with a banking major.

The Faculty of Financial Planning and Insurance offers the Higher Certificate in Short-Term Insurance, the Certificate in Financial Planning, the National Certificate in Financial Planning, a BCom degree with a financial planning major and the Postgraduate Diploma in Financial Planning.

At the beginning of 2013, the business school introduced the new BCom degree. Oosthuizen states that in 2014 additional majors in marketing management, human resources management and investment management will be offered under the BCom qualification.

The establishment of its own depart- ment within the business school will enable executive education to receive exclusive focus. Oosthuizen tells Engineering News that Milpark Business School is busy recruiting appropriate individuals to fill the human resource needs of the department.

Further, Oosthuizrn says the role of business schools in South Africa is underestimated as they have a huge impact on the community and, in turn, the country.

Milpark Business School is a signatory to the six Principles of Responsible Management Education (PRME), a United Nations Global Compact initiative.

Principle one is that of purpose. Students must be developed into future generators of sustainable value for society and business, who can work for an inclusive and sustainable global economy.

Principle two refers to values – global social responsibility must be incorporated into academic activities and the curricula.

Principle three denotes that educational frameworks, materials, processes and environments enable effective learning experiences for responsible leadership.

Principle four states that conceptual and empirical research must advance student understanding of the role, dynamics and impact of corporations in the creation of sustainable social, environmental and economic value.

Principle five explores the effectiveness of partnerships in jointly meeting the challenges of expanding existing knowledge on addressing social and environmental responsibilities.

Principle six refers to communication and dialogue.

“We are committed to these principles of the curriculum and the learning environment as they are congruent with equipping students to be agents of positive change,” he states.