In an effort to help make nonprofit organizations more competitive, the University of Chicago Booth School of Business will give four full-tuition scholarships each year to nonprofit executives so they can attend weeklong executive education programs together with executives from for-profit companies, the school announced today.
The scholarships target candidates at organizations that lack the resources needed to enroll in Booth’s executive education programs, the school said. Tuition for those programs is typically $8,675 for a one-week course.
“We hope that after spending an intensive week learning from our faculty, leaders of nonprofit organizations will use their new knowledge to run their institutions more effectively,” said Sunil Kumar, dean of Chicago Booth.
“These new scholarships complement the efforts of our Social Enterprise Initiative, which helps students launch and grow businesses in the social sector, matches alumni interested in board service with nonprofit organizations, and supports student groups and career interests in the social sector,” Kumar said. “The nonprofit sector can benefit from proven market-oriented ideas and best practices from the for-profit sector.”
Applicants for the Harry L. Davis Executive Education Scholarship for Nonprofit Leaders must be directly responsible for shaping their organizations’ mission, policies and major programs, the school said.
Scholarships will be awarded for courses in finance; leadership and organizational behavior; marketing and sales; and strategy. Recipients will be able to choose from among several course titles in each area. For example, within the leadership and organizational behavior area, choices include “Essentials of Effective Management;” “High Performance Leadership;” and “Negotiation and Decision Making Strategies.”
As part of the application process, executives must submit a short written statement that explains how the scholarship will enhance their ability to lead within their organization and help the organization overcome current challenges. Applicants also must submit a letter of recommendation from the nonprofit’s president or from the chairman of the board or other board member, if the president is the applicant.
The scholarships are named for Harry L. Davis, a former Chicago Booth interim dean and former deputy dean, who is the Roger L. and Rachel M. Goetz Distinguished Service Professor of Creative Management.
“Naming the scholarship in honor of Harry Davis is a fitting tribute in recognition of his 50 years on the Booth faculty and his leadership and dedication to executive education,” said Robert Gertner, the Joel F. Gemunder Professor of Strategy and Finance at Chicago Booth and Deputy Dean for the Part-Time MBA Programs.
“Harry has personally shaped the development of Booth through his creation of innovative programs, including Leadership Effectiveness and Development (LEAD) and Management Labs,” Gertner said. LEAD is designed to strengthen students’ communication and interpersonal skills, and Management Lab courses supplement the traditional MBA curriculum with client-project teams.
During the current academic year Davis is teaching courses in business policy and strategy in the MBA and Executive Education programs. He also is teaching a course in global foundations and values.
To learn more about the scholarships, applicant eligibility, the selection process and to download an application, please visit http://hld.chicagoexec.net.
Chicago Booth offers a Full-Time MBA Program, an Evening MBA Program and a Weekend MBA Program, as well as an Executive MBA Program in Chicago, London and Singapore. The school also offers a Ph.D. program, open-enrollment executive education and custom corporate education.