Business mentor: Tertiary tuition within reach

Q. I run a small business in Kaitaia and have been looking at doing some formal business training, something like an MBA. Would this be worthwhile? I've never done any tertiary training before. I have eight staff and a turnover of $1 million, am very good at my trade but lack business skills.

A. Patrick Merrick, regional director of Henley Management College replies:

Time pressures, resource shortages, the need to be generalists as well as hands on have historically made MBAs very attractive but virtually impossible for most small and medium enterprise (SME) managers.

Studying via distance learning was an option but this meant individuals struggling to complete their studies in isolation and, let's face it, it can be isolating enough running a small business.

Times have changed - technology has made the impossible achievable.

Developments in IT, the growth of multi-media and the recognition of the importance of personal tutoring and support mean that the concept of distance learning has been transformed in recent years.

Once thought of as the poor relation of MBA provision, they are now fully recognised as being mainstream. An MBA by distance learning normally takes about three years and is particularly suitable for those who are unable to commit to fixed periods of study, or who are too remote or busy to attend a school.

One of the main advantages of distance learning MBAs is the immediate integration of learning into the workplace.

The speed of developments in IT has contributed greatly not only to the rate of growth in distance learning MBAs but also their effectiveness. For example, the internet allows students to exchange views, access data bases, take part in discussions, communicate with administrators and faculty regardless of time zone and location, and submit set work.

One of the key factors differentiating this newest generation of distance learning programmes from their more primitive predecessors is the fact that most of the leading schools offering these programmes include a significant amount of face-to-face contact and personal support for students during the programme.

Most of the really good distance learning MBA programmes therefore include significant opportunities for students to participate in workshops, seminars, tutorials, and residential weekends and so on, to complement their individually paced studies and to enhance their skills base and networking opportunities.

To no group is this flexibility more attractive than to busy, mobile and isolated SME managers. Their business commitments and demanding jobs mean that they must fit their studies around their work and cannot afford the luxury of regular commitment or extended time away from the office.

Like any other type of MBA programme it is important to select a programme that is right for you.

Then, if it's to be a distance programme, make sure it is a recognised one. A good place to look is the Economist magazine's ranking of MBAs at www.eiu.com.

For more information contact Patrick Merrick of Henley Management College on email or telephone (09) 571-8187.

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Answers are courtesy of Spring - A State of Mind for Business