The Last Word
Cumulative Returns

While capital and natural resources were the primary drivers of an industrial economy, knowledge and experienced knowledge workers are the drivers of a knowledge-based economy. How do companies achieve a return on their investments in executive education?

We've always given a lot of thought to this issue, and even more recently in this challenging environment. We've spent a lot of time talking to company leaders about it. We have identified a variety of ways that rigorously designed executive programs can benefit companies. These include:

• Process improvements
  
  
• Infusing best practices
  
  
• Heightened competitiveness, internally and externally
  
  
• Better focus on priorities
  
  
• Increased clarity across the business on concepts, frameworks, and approaches
  
  
• Alignment with strategic priorities
  
  
• Communication and collaboration across functional organizational boundaries
  
  
• Accelerated organizational or cultural change
  
  
• Improved retention

There are also a variety of individual benefits in improving the skills and perspectives of specific managers. These employees often have an opportunity to address specific work challenges and projects in the course of the program. And the knowledge they gain will add value to the business for many years to come. In this way, education produces an immediate return and a long-term payoff.

We would be pleased to share specific examples of any of the above, which might be relevant to your business issues and challenges. Let us know if we can help — we're all working for the long run and the home runs.

Robert E. Mittelstaedt, Jr.
Vice Dean and Director
Wharton Executive Education

Professor Mittelstaedt teaches in The Directors' Consortium.

• Wharton Executive Education
  
  
• The Wharton School

This month's articles:

• In the Classroom I: Return on Education
  A CFO uses scenario-planning techniques practiced during The CFO to take his business in new directions.
  
  
• In the Classroom II: Dealmaker
  The best negotiators, says Wharton Practice Professor Stuart Diamond, are the ones who put their own sweat into the game.
  
  
• Thought Leaders I: Connecting Strategy to Finance
  You say finance; I say strategy. To John Percival, they're one and the same.
  
  
• Thought Leaders II: Going to Bat for Baseball
  A dream team of marketing pros are on deck to get baseball out of its slump.
  
  
• The Last Word: Cumulative Returns
  Wanted: Educated Employees for the Knowledge Economy.