CNN.com - Remote location proving no bar

New Zealand promotes its link to the "Lord of The Rings" trilogy, but is also strong in business education.

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FT's Executive MBA Rankings
1. Wharton, U.S.
2. Kellogg, U.S.
3. Chicago GSB, U.S.
4. Stern, NY, U.S.
5. Fuqua, Duke, U.S.
6. Hong Kong UST, China
7. Columbia, U.S.
8. Instituto de Empresa, Spain
9. London Business School, UK
10. Tanaka, Imperial College, UK
Source: Financial Times 2005

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Executives taking the top EMBA courses in the U.S., Europe and Asia have average salaries of around $130,000 to $200,000.

A typical EMBA student is likely to be aged in the early 30s, with 6-10 years of working experience.

A top EMBA course can cost $100,000. Customized courses start at a few thousand dollars.

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(CNN) -- Better known as the scenic location for the "Lord of The Rings" film trilogy, New Zealand is also gaining an international reputation as a provider of executive education.

Although thousands of miles from just about everywhere and with a population of just 4 million people, the country has established MBA course offerings that are capturing world attention.

Despite -- or perhaps because of -- its remote location, New Zealand has much to offer prospective MBA students. Small class sizes, a buoyant local economy and a comparatively low cost of living can make it more appealing than traditional regions such as Europe and the United States.

In the latest global rankings compiled by the Economist Intelligence Unit, Otago University, in the South Island city of Dunedin, made it into the listing of the top 100 business schools, with a ranking of 87.

Operating since 1869 and offering business education since 1912, the Otago Business School offers a full-time MBA program. Of the student body, more than 80 per cent come from outside New Zealand.

The costs of undertaking an Otago MBA measure up favorably when compared with other locations. Fees for non-resident students are $NZ36,000 ($24,500) for the 16-month program. This compares with fees of $41,000 per year for the U.S.-based Stanford MBA and $55,556 for the full program at the Swiss-based IMD school.

At the Auckland University of Technology (AUT), which also offers an MBA course, interest from international students is strong.

The university's MBA director Ken Lee says enrolments from the Southeast Asian region are high, but interest is also coming from countries such as Mexico, Germany and South America.

While competing for students in a global market is obviously tough, Lee says it's a matter of ensuring standards remain as high as possible.

"You have to make sure you're as good as the best in the business and let all the benefits that New Zealand has to offer tip the balance," he says.

"Studying or working in New Zealand can often be a lifestyle choice and internationally we promote what the country has to offer -- clean, green, uncluttered, safe, outdoor lifestyle and opportunity."

Lee says AUT differentiates itself by having small classes of around 20 students which promotes interactive learning and allows one-to-one support. Fees for the AUT MBA degree are $NZ31,500 ($21,400).

At the Waikato Management School in Hamilton on the North Island, a focus on international markets has led to it being accredited by the U.S.-based Association to Advance Collegiate Schools of Business, a global quality assurance body for executive education.

"AACSB accreditation denotes earned excellence," says school dean Professor Mike Pratt. "It confirms to current and potential students that our offerings are relevant and substantial and they stand up against the best qualifications in the world."

The school has also achieved accreditation from the European Quality Improvement System (EQUIS) and the UK-based Association of MBAs.

New Zealand's small domestic economy means many local companies tend by necessity to be export focused. This bodes well for MBA students as they can gain experience through working with and studying case examples of firms that have expanded beyond their home country beginnings.

Unfortunately for New Zealand-based academic institutions, the benefits of being a small and remote country can also prove to be a challenge -- particularly when trying to attract and retain experienced faculty members.

MBA program director at the University of Auckland Business School Lawrence Johnstone says his institution has recently revamped its part-time MBA offering to give it more of an international flavour.

"We have an increasing number of international visiting professors teaching," he says. "And we have introduced much larger practical and international content through consulting projects.

"The biggest problem in retaining good faculty is outside of our control -- (the level of) salaries in New Zealand."

Remote location proving no bar

New Zealand courses capture world attention

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