Building Support for Retail Industry

FAYETTEVILLE, Ark. — The Sam M. Walton College of Business at University of Arkansas has announced a new Master in Business Administration program designed to support the growing industries of retail and consumer products goods, often referred to as CPG by members of that industry.

The Walton College Graduate School of Business is officially launching the new full-time MBA program at noon Thursday, June 8, at the Embassy Suites Hotel in Rogers, Ark. People interested in learning more about the program should contact the Graduate School at (479) 575-2851 or by e-mail: gsb@walton.uark.edu.

“Attracted by the growth of Wal-Mart, hundreds of Fortune 500 companies have moved to the area,” said Michele Halsell, assistant dean for Graduate Programs in the Walton College. “This phenomenon has created unprecedented job growth with employers scrambling to fill positions that require a unique set of skills and knowledge. Luring talent from urban areas to Northwest Arkansas has been a challenge. The Walton College has created an MBA program to meet the unique needs of these employers.”

Alan Ellstrand, MBA program director, said, “We devoted an entire year to meeting with area employers, alumni, faculty and staff to determine the content and skills that would be featured in the new MBA curriculum. We have built a program from the ground up that responds to the needs of the CPG and retailing industries while leveraging the strengths of the Walton College in marketing, logistics, and information systems.”

The new MBA program features a strengthened core curriculum with an emphasis on the analytical skills needed to succeed in the data-driven world of retailing. In addition, electives have been organized into market-driven career tracks that correspond directly to the positions employers are seeking to fill: retail marketing management, supply chain management, financial management, and entrepreneurship and innovation.

Halsell added, “Career changers - those who want to leave their current career path to break into consumer products and retailing - and career accelerators - those who are already in the CPG and retailing sectors - will find that the Walton College MBA program will prepare them for career success in the rewarding retail environment.

“The new MBA also emphasizes corporate connections with real-world experience through assistantships, internships and consulting projects.”

There are two distinct MBA programs at the Walton College, a full-time program and a managerial (part-time) program. The full-time program is designed for students who want to pursue an MBA degree on a full-time basis in an accelerated time frame. The managerial program is ideal for working professionals who wish to earn an advanced degree while working.

Some of the key changes that distinguish this new MBA program from the previous full-time program are its duration, admission date and the addition of a summer internship. Starting in January 2007, the new MBA class will embark on a 16-month journey that includes 28 hours of core courses, a 12-hour career track and a summer internship. Professional development workshops give students the opportunity to acquire cutting-edge content that is unique to CPG and retail companies, such as learning to use ACNielsen software and data or understanding the use of radio-frequency identification in the retail supply chain. In addition, the program also offers shop shadowing opportunities, career mentoring, leadership development and personal image consulting. The three-semester format still offers time and cost savings compared to traditional two-year MBA programs.

The UA Board of Trustees approved the program at its meeting on March 31. Applications are now being accepted for the first class. Visit http://gsb.uark.edu for more information.