Development of a world class MBA program in Japan by using blue ocean strategy

The objectives of this research are: (1) to analyze the “best-practiced” MBA programs from USA, Europe, and Asia Pacific; (2) to synthesize the needs of a MBA program in Japan; (3) to survey business peoples’ opinion about general business practices and MBA programs in Japan; and (4) to develop a world class MBA program based on the Blue Ocean Strategy. The research procedure used document analysis and synthesizing by examining the social, economical and political environmental demands of MBA programs in Japan. The questions used in the survey of administrators, faculty members, students and students’ parents opinions derived from the analysis of the “best-practiced” and Japanese MBA programs related to (1) school contest, governance and strategy (2) quality of MBA program (3) quality of students (4) quality of faculty) (5) research and development (6) contribution to the community (7) resource and administration (8) internationalization) (9) corporate connection. The second set of questions used in the survey of business peoples’ opinion regarding the business practices and MBA program.In addition, interviews used with the students from Japanese MBA program to get their opinion about their program and their needs, and also used with business executives from top listed 24 different industries to get their deeper opinions about their business practice and MBA program in general. Results of the study indicated the gap between “best-practiced” MBA programs and Japanese MBA programs. The all results from “best-practiced” MBA scored higher than Japanese MBAs. The results from business people indicated that there were positive significant relations between “their business organization has very internationalized governance” and “they agree that MBA programs have good potential to develop new business leaders”. Another results indicated that there were significant negative relationship between “their company’s training courses are unique” and “they feel that present Japanese MBA programs are irrelevant to the business practice. A model of World Class MBA program in Japan was proposed after following the formulating and executing process of the six principles of Blue Ocean Strategy (BOS). This newly developed model’s “value innovation” in BOS was (1) Tailor Made Program (2) Top Up Japanese CEO program (3) Foreign CEO program (4) International program (5) Fast Track Advance Executive program.