2009 - 2010
Graduate Catalogue

Master of Business Administration


Director, Graduate Business Programs: Ann Attanasio
Office: Timonium Campus, Room 08F
Telephone: 410-617-5067
Website: www.loyola.edu/sellinger

The Master of Business Administration (MBA) is designed to prepare high potential individuals for leadership in a variety of organizational settings. The degree program is intended to develop responsible leaders with a broad, integrated understanding of the relationships and functions of organizations, the worldwide opportunities and environmental influences on the decision-makers, and technologies that have evolved to facilitate decision-making. The MBA emphasizes breadth of outlook over functional specialization, but provides an opportunity for focus within a set of elective courses.

The Loyola MBA program began in 1967 and is recognized as the premier business graduate program in the region. It integrates disciplines and prepares graduates to lead organizations in the internal and global environments of the twenty-first century. The combination of bright, experienced students and experientially grounded, highly qualified professors work within the curriculum to assure the development of leaders with values, broad understanding, and strategic vision.

ADMISSION CRITERIA

Students are offered admission based upon the consideration of two areas: quantitative criteria consisting of prior academic achievement and performance on the Graduate Management Admission Test (GMAT), and qualitative data which includes professional experience, a written personal statement, and at least one professional reference. In evaluating applicants, the committee considers many aspects of performance including each portion of the GMAT, undergraduate/graduate performance and progression, career progress, references, professional certifications and awards, and other evidence of the applicant's capacity to successfully pursue graduate study in business. The Committee on Admission and Retention is the final arbiter. Applicants will be notified in writing of the admission decision.

A TOEFL score report is required if English is not the applicant's native language or if the applicant has not completed a degree program taught in English. An official TOEFL score report cannot be more than two years old. Official scores must be sent directly from the Educational Testing Service. The University's institution code is 5370.

GMAT WAIVER POLICY

Applicants to the evening MBA program who meet certain provisions can request consideration for admission without submitting a GMAT score. If, upon review by the admission committee, the applicant is considered admissible without a GMAT score, that requirement will be waived.

The following provisions qualify an applicant for consideration for the GMAT waiver: possession of an advanced degree with quantitative content (e.g., master's, doctorate, etc.) or an undergraduate GPA of 3.250 or higher with quantitative coursework, combined with at least five years of significant professional experience (typically post-baccalaureate) and a personal interview with a Loyola University academic advisor. The admission committee reserves the right to require a GMAT score from an applicant even if the basic conditions are met.

APPLICATION PROCEDURES

Prospective students file an application with the Graduate Admission Office with the nonrefundable application fee. Applications can be filed online (www.loyola.edu/graduate) or by mail. Letters of recommendation (one is required) may be sent directly to the Graduate Admission Office. Information regarding official transcript requirements can be found in the Admission chapter of this catalogue. Complete admission information also can be found on the Graduate Admission website listed above.

Admissions decisions are made on a rolling basis once an admission file is complete. The priority submission deadline for each term is listed below:

Fall Semester (September start)
August 1
Spring Semester (January start)
December 1
Summer Sessions (June start)
May 1

International students seeking admission to academic programs with fixed-date application processes must complete an application for admission by the stated program date (see Application Dates under Admission). Programs using a rolling admission recommend that international applicants submit completed applications at least 90 days prior to the start date, but no more than six months before the program begins.

Late applications will be considered if possible, however, there is no guarantee a timely decision will be able to be made. No student will be permitted to register for courses unless admitted.

FINANCIAL AID

Full-time students are eligible to apply for employment within academic and administrative departments. Student loan programs exist. Inquiries concerning loans should be directed to the Financial Aid Office, 410-617-1500.

PREREQUISITES AND BASIC COMPETENCIES

An entering student must hold a bachelor's degree or its equivalent from a regionally accredited college or university and should be able to communicate well both orally and in writing. No prior business courses are required. However, prior business courses may reduce the number of foundation courses (600-level) that must be completed prior to beginning the MBA core courses.

An entering student in the MBA program should have facility in algebra and graphing of mathematical functions, graphic interpretation, and probability. Proficiency in these areas will be assumed with recent college or graduate level credit (B or better in a single course) in finite mathematics, precalculus, or mathematical models for business. Proficiency may also be established through superior GMAT performance. Loyola offers a course, Fundamentals of Math for Business (GB500), which is specifically geared to the incoming graduate student without the necessary quantitative skills. (Note: GB500 is a program prerequisite and will not be awarded credit on the transcript.)

Courses in the MBA program use computer software for presentation and analysis. Students can expect to receive assignments using spreadsheets, and they may also be required to employ specialized software, CD or online databases, or mainframe systems. Prior to beginning the program, students must be able to design and manipulate spreadsheets and be familiar with Microsoft Excel, Word, and PowerPoint software at the intermediate level. Once enrolled, advanced help courses are offered without charge through Technology Services, 410-617-5555.

DEGREE REQUIREMENTS

Requirements for the MBA include 33 core credits beyond the foundation, of which at least 27 must be taken in the Loyola MBA program. All core courses (GB700-709) and most electives are three credits. There are 20 credits within the foundation courses (GB600-699) which vary in number of credits. Waivers for foundation courses may be granted for recent, previous academic experience (see the MBA Foundation).

FAST TRACK

Students applying to the MBA program with a recent bachelor's degree in business administration or related field or with selected business classes that specifically parallel the foundation courses (each successfully completed with a B or better) may be able to complete the MBA program with as few as eleven courses. This includes all core courses and four electives. For further details, call the Graduate Business Programs Office at 410-617-5067.

THE MBA FOUNDATION

Graduate business programs may be pursued by students with either business or nonbusiness undergraduate degrees. Once admitted, they will be enrolled in graduate courses to develop an integrated understanding of the complex environment of the manager. The foundation provides a knowledge, skill, and vision base for the pursuit of the core courses recognized by the AACSB International - The Association to Advance Collegiate Schools of Business. Each student must be waived from, test out of, or have substantially completed all foundation courses before proceeding to core level coursework. Waivers are granted under the following conditions: the student has graduated no more than five years previous and has successfully completed courses at the undergraduate (B or better) or graduate (B or better) level which are equivalent to the foundation requirements. Upon admission, each student's transcripts are reviewed to determine if foundation course waivers are possible. An academic plan, outlining all courses necessary, is developed for each student.

Waiver Exams

In selected academic areas, there is the opportunity to demonstrate proficiency through a waiver exam. This option is available to students who do not qualify for a course waiver due to low grades or an expired time limit. To qualify for a waiver, a grade of B must be achieved. Exams are available by appointment through the Graduate Business Programs Office during certain times of the semester. The testing fee is $100 per exam. For more information on waiver test availability or to arrange to sit for an exam, contact the Graduate Business Programs Office at 410-617-5067.

Preprogram Competencies

  • GB500 Fundamentals of Math for Business (2 credits)
  • Reflective Learning and Program Orientation Workshop (non-credit)
    A half-day program orientation and an introduction to the concept of "reflection" as an integral tool for lifelong learning. It presents an overview of the administrative procedures and various student support services available for MBA students. The program also provides an opportunity to meet with advisors and other college personnel. Students are required to complete the workshop within the first semester of the MBA program.

Foundation Courses

The Environment

  • GB611 Global Economic Analysis (3 credits)
  • GB612 The Legal and Regulatory Environment (2 credits)
  • GB617 Globalization and International Business (2 credits)

Business Fundamentals

  • GB613 Financial Reporting and Analysis (2 credits)
  • GB616 Marketing Management (2 credits)
  • GB620 Fundamentals of Finance (2 credits)

Analytical Tools for Decision-Making

  • GB600 Statistical Applications in Business (3 credits)
  • GB615 Managerial Accounting: Analysis for Decision-Making (2 credits)
  • GB622 Operations Management and Decision-Making (2 credits)

In order to qualify to sit for the CPA exam, the following foundation course substitutions should be made for students concentrating in accounting (see Concentrations section for more detail):

  • GB603 Financial Accounting (for GB613/GB619)
  • GB661 Financial Accounting Problems I (for GB615)
  • GB774 Business Law: Commercial Transactions (may be used for GB612, under certain circumstances, with the advice of an advisor)

Due to the additional coursework required for an accounting concentration, the international/global requirement is waived for students concentrating in accounting.

THE MBA CORE

These courses are designed to address both the value chain and the responsibility of leaders to guide the organization responsibly. The organization must anticipate market needs and gather the human, material, information, and financial resources to carry out its mission. The horizontal linkage from resources to the client/customer has replaced the old hierarchical or authority structure that characterized organizations. This shift creates an opportunity to involve all members of the organization in the responsible enactment of its mission.

Students who have completed or waived the foundation requirements take a minimum of 33 semester credits of advanced graduate courses. The program includes seven required courses and four electives. Three of the electives may be used to form a specialization. The other course can be taken outside of that field to provide breadth of understanding. One elective course must be a designated global elective.

The core requirements include: two value and leadership focused courses (GB700, GB705); a four course sequence (GB701, GB702, GB703, GB704) which develops the relationships within the value chain of the organization; a capstone course (GB709) that integrates the functional areas in a case course on policy and strategies; and a concluding workshop (GB710).

Individual and Corporate Leadership

  • GB700 Ethics and Social Responsibility (3 credits)
  • GB705 Leadership and Management (3 credits)

Internal Business Processes

  • GB701 Risk Assessment and Process Strategies (3 credits)
  • GB704 Information and Technology for Management (3 credits)

Value Creation in a Global Environment

  • GB702 Marketing Strategy (3 credits)
  • GB703 Financial Applications and Strategy (3 credits)
  • GB709 Business Strategy (3 credits; must be taken in last six credits of program)
  • GB710 Capstone Workshop: Reflection - Putting Values into Action (non-credit)

Customized Learning

Consisting of electives (4 courses/12 credits) from the program's various elective/concentration options. One of the four courses must be a designated global elective.

CONCENTRATIONS, SPECIALIZATIONS, AND ELECTIVES

The MBA program includes four elective courses (12 credits) at the upper level. The electives may be chosen with no pattern; they may conform with a designated concentration; or they may follow a theme of the student's choosing. No prior approval is necessary to choose a concentration. To provide breadth, concentrations are limited in length to assure that at least 18 of the 33 core level program credits lie outside of a departmental discipline. One of the four courses must be a designated global elective.

Accounting Concentration

Over the last decade, the accounting profession has become more complex and challenging. In recognition of this growing complexity, the accounting profession has mandated 150 hours of education for candidates to sit for the CPA exam. In Maryland, the course requirements for the 150-hour requirement to sit for the exam were changed on January 1, 2008.

The Department of Accounting has developed an MBA accounting concentration for students who have a nonaccounting undergraduate degree but are interested in the accounting profession and plan to sit for the CPA exam. Foundation course substitutions are listed above under The MBA Foundation. Concentration courses include the following:

  • GB761 Financial Accounting Problems II
  • GB762 Cost Accounting
  • GB764 Federal Taxation of Business Entities
  • GB765 Auditing

Students may substitute electives with approval of the program advisor if above courses were covered in prior academic work. Changes to the Maryland CPA regulations could alter the specific course requirements; therefore, students should ensure that they are informed of current state regulations.

MBA Program for Accounting Students Completing the 150-Hour Requirement

For qualified applicants, Loyola University offers graduates of undergraduate accounting programs from all colleges and universities the opportunity to earn an MBA with one additional year (12 months) of accelerated full-time coursework. In order to meet this accelerated pace, students must qualify for all foundation course waivers, be able to attend classed four evenings a week, and take courses at both graduate centers. In addition, the requirements to sit for the CPA exam are evolving in many states and are determined outside the academic realm; therefore, students should explore the requirements of their state and contact their advisor to obtain information on how to build a program to meet their needs.

Students graduating from Loyola's undergraduate accounting program who wish to obtain an MBA and complete their 150-hour requirement are encouraged to discuss their options for early admission with the graduate business programs director. Academically qualified candidates may be permitted to apply prior to graduation and enroll in MBA courses (6 credits maximum) in their senior year of undergraduate studies.

Finance Specialization

  • GB722 Investments Management

And select two of the following courses:

  • GB720 Financial Theory
  • GB723 Portfolio Management
  • GB724 Financial Markets and Institutions
  • GB726 International Finance
  • GB729 Financial Modeling
  • GB820 Advanced Financial Analysis
  • GB822 Fixed Income Securities
  • GB823 Derivatives and Risk Management
  • GB825 Special Topics in Finance
  • GB828 Student-Managed Sellinger Applied Portfolio Fund I and
  • GB829 Student-Managed Sellinger Applied Portfolio Fund II

General Business Specialization

General business is for students who do not choose one of the established concentrations. Students can pursue a wide range of topics or can develop their own focus to meet their specific career goals.

Information Systems Specialization

Within this broad functional area students may focus their concentration by consulting with faculty experts who will recommend an elective sequence for areas such as software application or knowledge management and decision-making.

Select three of the following courses:

  • GB719 Independent Study
  • GB730 Decision-Making in the High Technology Environment
  • GB734 Managing Global Supply Chains
  • GB735 Project Management
  • GB752 Information Systems Analysis and Design
  • GB754 Information Systems Security
  • GB756 Database Design and Implementation
  • GB758 Object-Oriented Programming in Java
  • GB759 Special Topics in Management Information Systems
  • GB850 Global Information Systems
  • GB895 Quality Management

International Business Specialization

At minimum, students must take GB796 or GB798, and two additional courses:

  • GB719 Independent Study
  • GB726 International Finance
  • GB734 Managing Global Supply Chains
  • GB748 International Marketing*
  • GB779 International Study Tour: Corporate Social Responsibility
  • GB782 International Economics
  • GB795 Special Topics in International Business*
  • GB796 International Management
  • GB798 Global Strategy

* May be offered as a study tour. Only one study tour course can be used to satisfy the specialization.

Management Specialization

Students may develop focus areas such as leadership and management; managing for world class quality; and managing human resources. Select three of the following courses:

  • GB718 Entrepreneurship
  • GB719 Independent Study
  • GB734 Managing Global Supply Chains
  • GB735 Project Management
  • GB772 Power, Privilege, and Professional Identity
  • GB778 Employment Law
  • GB779 International Study Tour: Corporate Social Responsibility
  • GB791 Leadership
  • GB792 Human Resources Management
  • GB793 Leading Organizational Change
  • GB796 International Management
  • GB797 Special Topics in Management
  • GB895 Quality Management
  • GB896 Power and Influence
  • GB897 Negotiation and Dispute Resolution

Note: Only one study tour course can be used to satisfy the concentration.

Marketing Specialization

Select three of the following courses:

  • GB719 Independent Study
  • GB742 Advanced Marketing Strategy
  • GB743 Health Care Marketing
  • GB744 New Product Development and Management
  • GB745 Electronic Commerce Marketing
  • GB746 Strategies for Marketing Communication
  • GB747 Special Topics in Marketing
  • GB748 International Marketing*
  • GB780 Pricing Strategy

* May be offered as a study tour.

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