Critical Chain - Eliyahu M. Goldratt [89]
B.J. is trying to absorb all the good news, when Jim quietly continues, "There is one major problem, you know. How are we going to convince companies that our Executive MBA Program is of such value?"
"It won't be easy," B.J. agrees. She contemplates ways. None look promising. "Do you have any ideas?" she asks.
"The four of us were talking about it, and we did come up with an idea. But it's too unconventional."
"Carry on," she says softly.
"I think the major problem is that companies no longer believe that a person finishing an Executive MBA program has become a much better manager due to it. They don't see the tangible benefit to the company. So, why don't we promise it to them?"
"What do you mean?" Chris asks.
"Something like . . . For example, can we offer that the companies pay for the education only after the student has used his knowledge to bring the company benefits of at least one hundred thousand dollars? It's not such a big risk. You see, the mistakes companies make today are so fundamental the four of us are confident we can deliver such benefits, at least until our knowledge becomes standard practice in these companies. But by then the value of our teaching will be established."
"Out of the question," Chris exclaims. "We are a university. We are not some fly-by-night consulting firm. We don't have to prove ourselves."
"Yes, we do," B.J. says. "It's about time we got off our high horse. We do not deliver enough value; we hear it constantly. We do have to prove ourselves."
"No other university would think of offering such a thing. It's embarrassing."
"Listen to yourself," B.J. tells him softly. " ‘No other university would think of such a thing.' You are right. They won't offer it because they can't deliver. Moreover, if no other university would think of offering such a deal, it is even better for us."
Chris shakes his head. "We don't offer deals. It's craziness."
"I think we'd better think it over," B.J. says calmly. "With open minds. Thank you, Jim. You opened my eyes, and in more than one way."
When Jim has left, Chris turns to her, "B.J., we are a university, not a bunch of gamblers. What's gotten into you?"
"Tell me, Chris. Do you believe what Jim told us, all these great things?"
"I've known him for over twenty years now. He is one of the most solid and reliable people I know. What he told us sounds hard to believe, but if he says they can deliver, they can."
"So it's not such a big gamble."
Chris starts to protest, but B.J. stops him. "Let's not argue; let's do our homework first. Before next week let's each talk with one president, not necessarily from the companies that formed that committee. Let's see what is needed to persuade these business people that we have an excellent program for them."
"I'm not going to offer any crazy deals," Chris is adamant.
"I didn't ask you to. Just try to persuade them that we have an excellent MBA program. Stress the points that we discussed: that the program will bring value to their companies, that it uses their real-life scenarios and that it will teach their managers to solve problems better. Let's learn what it takes to persuade them."
"That, I can do."
"Oh, yes, Chris, there is something else. It looks like this Richard Silver is a real gem."
"He is, and we are going to lose him, since you won't approve any tenure."
"We cannot afford to lose him. Submit the papers; I'll sign them.
"Don Pederson, please."
"May I ask who's calling?"
"Professor Fisher."
"Hello, Professor Fisher. Just a moment, please." Music comes on, but not for long. "Johnny. How are you?" "Fine, Don. Got a moment?"
"Always. What's up?"
"I think I've done my part of what we discussed last month.
It's your turn to move."
"So soon? Are you sure?"
"I think so," Johnny says in a tone that indicates more confidence than the words imply.
"Tell me more." Don, true to his nature, wants to make his own evaluation.
"If I understood you correctly, you invested in the five