Business schools around the country are thinking about ways to implement programs that increase diversity on campus. Steve Reinemund, dean of the Wake Forest University School of Business, instituted the Corporate Fellowship program shortly after he arrived at the school in 2008, which helped the Master of Arts (MA) in Management program achieve the same kind of diversity found in today’s workplace.
Q: What prompted you and the university to institute the Corporate Fellowship program?
A: We had several objectives. We wanted to create a program that would attract liberal arts graduates, with no prior work experience, and offer both the educational background and the vocational discernment to prepare them for successful careers in business. It’s important to know how to lead in a multicultural environment. So, one priority of this program was to recruit a student body that mirrors the global marketplace in, as a start, its racial and gender makeup. Graduate business education does not typically have the representation in these two areas that the marketplace demands, so we set out to attract a diverse student population. We asked corporations to fund and sponsor students in our MA program, offering both financial and developmental support. Ten percent of the class receives a Corporate Fellows scholarship each year.
Q: What has been the impact of the program, thus far?
A: For the institution, it has helped us reach a broader network of corporations. We think that people knew about the Wake Forest School of Business, but this fellowship allowed us to tell companies more about our MA program and how it allows them to interact directly with our students.
We believe students receive a richer, fuller education and are better prepared for the challenges and sensitivities of the workplace when they are exposed to many different backgrounds and points of view, and are educated in an environment that that reflects the diversity found in the marketplace.
Q: What lessons can corporate sponsors teach these students (from underrepresented groups) that cannot be otherwise learned in a classroom?
