The specialized MBA program has been created together with the University of New York in Prague to support the development and growth of the business services sector, which is supposed to become the dominant industry of the Czech economy within the next five years.
“The business services sector is developing very dynamically: it drives innovation in large global companies, while continuing to grow and expand its scope. At the same time, there is a growing need to develop business service managers and expand their qualifications into new areas, from managing people in the digital age, through quality data work, to the implementation of innovations and development strategies. I am convinced that properly focused management education has the potential to further support the growth of business services. For this reason, we have created a program in cooperation with the University of New York in Prague and the Hackett Institute which will open up very interesting career opportunities for graduates,“ explains Jonathan Appleton, Managing Director of ABSL Czech Republic.
The business services sector currently employs 120,000 people in the Czech Republic, and is one of the fastest-growing industries in the country. According to a recent study published by ABSL in association with McKinsey & Company, business services will be one of the most important sectors of the Czech economy by 2025, in terms of both employment and economic performance. Moreover, this sector has the potential to transform the Czech Republic from a low-wage traditional manufacturing economy into a country providing modern and innovative services with high added value. Education in this sector will therefore become increasingly important.
“People who work in business services are increasingly moving from transactional activities to more skilled tasks. For example, clients from all over the world require business analytics and other services that are essential for the company’s strategic decisions. Continual education in this sector is thus crucial to give managers a competitive advantage and the ability to understand current and new challenges,“ says Sotiris Karagiannis, Director of MBA Programs at the University of New York in Prague (UNYP). According to Sotiris, professional managerial education in the form of MBA programs is growing in popularity in the Czech Republic, especially with middle and top management. The newly created MBA program offered by UNYP is the first and only MBA focusing on GBS (Global Business Services) available in the Czech Republic.
The program consists of 12 courses led by UNYP instructors, 10 Hackett Institute courses and a series of lectures from ABSL members. In addition to the MBA diploma, each graduate will receive a second diploma with the Hackett Institute’s internationally recognized certification. Students will study the topics of strategic management in the digital age, finance, marketing, project management and human resources, and will also develop their managerial skills. All topics reflect the needs of the sector, and are strongly linked to real-life examples and practical experience.
The first students will enter the program in October 2021. The courses will be held over two weekends per month and will last for 18 months, i.e. until January 2023. The program is open to anyone who is interested in MBA studies and wants to expand their career qualifications within the sector of business services. The course fees are €14,000, with a €3,000 discount for employees of ABSL member organizations.
“One of our goals is to support the reputation of the Czech Republic as one of the most attractive destinations for building and operating business service centers in Europe. Thanks to the new program, new investors can be sure that we have capable managers with comprehensive knowledge for building new modern organizations. And those companies who have already invested here can be confident that we are building the knowledge and skills that they need to keep driving their global business services forward,“ concludes Jonathan Appleton.