Diversity in MBA Programs

Matt Symonds recently wrote a good article on the importance of diversity in MBA programs:
...business schools seek to encourage not only more women and ethnic minorities to do an MBA, but also those with more diverse backgrounds including media, military, not-for-profits and entrepreneurship


But is it important for business schools to also strive for professional diversity? Many academics, administrators and students would say so. In fact, it’s been argued that restricting the MBA course participants to a limited range of experience means that traditionally accepted patterns of thought go unchallenged. They argue that a wide-ranging group of students helps to put business decision-making into a wider perspective, and thereby reduce the risk of a herd mentality that leads to ill-informed decisions. Perhaps Wall Street should take note?

Diversity in the student body - particularly a good mix of international students - is one of the main reasons I applied to Melbourne Business School for my MBA; and I was certainly not disappointed. In my intake (the full-time MBA intake of  September 2006) we had about 65  students, only seven of which were from Australia (the rest were from about 35 countries) and a quarter of which were women (for MBA programs, this is better than most).

MBS also goes out of its way to acquire diversity through its various scholarship programs. In my case, I was awarded (what is now called) the Dean's International Management Scholarship. Every year, that adds about three financially-limited international students to a mix of people who are fortunate enough to have other means to paying for their studies. I, for one, will be forever grateful to MBS for giving me that opportunity.