Have an idea for how the world’s top MBA programs should train the business leaders of tomorrow? Think you can do it better than business schools currently do it? Your idea could be worth $50,000. The Graduate Management Admission Council (GMAC) has invited anyone to answer this question: What one idea would improve graduate management education?
The GMAC Management Education for Tomorrow (MET) Fund will award a total of $250,000 in prizes to 15 people whose ideas rise to the top, with the most promising proposal taking home $50,000. All you have to do is submit three paragraphs making the case for your idea is the one that can best revolutionize management education.
GMAC will accept entries to the MET Fund’s Ideas to Innovation (I2I) Challenge at www.gmacmetfund.org from Wednesday, July 21, until Friday, October 8. After rounds of review and voting by a panel of educators and business leaders from around the world, the prize winners will be announced in mid-December.
But that’s just Phase 1 of the process. During Phase 2, to begin in 2011, GMAC will post the winning ideas online and ask schools and other nonprofit organizations to develop ways to implement them. GMAC will underwrite one or more of the best proposals using funds dedicated to the MET Fund, a $10 million initiative to invest in the development of management education worldwide.
What is “innovation,” for the purposes of the contest? GMAC defines innovation as the implementation of an idea that improves management education in a meaningful way—for students, for schools, for societies. GMAC seeks ideas that are achievable, easily understood and able to demonstrate measurable results within one to three years. GMAC is particularly interested in proposals that show potential to broadly impact management education in either a specific part of the world or globally.
If you’ve got an idea that will get GMAC’s attention, visit www.gmacmetfund.org and get started. Good luck!
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