Turkey has risen from the ashes like a phoenix. After its worst economic crisis in 2001 Turkey has turned the tables. These days the country is outshining the BRIC* countries reporting higher growth rates than any of the other emerging markets. With nine per cent growth, Turkey’s 735 billion dollar economy is Europe’s fastest-expanding market. Experts explain the country’s economic “miracle” with two main factors: Turkey’s high growth potential and the country’s large size.
Economic boom = MBA boom?
Economic booms always create opportunities for the MBA market as well. Some international business schools have already recorded an increased interest from Turkish applicants and are actively approaching candidates to lure them to their campuses. “After assessing the number of GMAT takers in the market and the increase which has generally occurred there it seemed like a natural market to approach,” says Lee Milligan, admissions manager at Copenhagen Business School in Denmark. Copenhagen is one amongst three European business schools that have just finished a recruiting initiative in Turkey. Vlerick Leuven Gent Management School and the European School of Management and Technology (ESMT) are also keen to attract Turkish talent. ESMT’s director of MBA programmes Nick Barniville sees the best opportunities in full-time programmes targeting people with three to ten years of professional experience.
Germany: MBA gateway for Turkish talent?
For the Berlin based ESMT, it seems a natural fit to approach Turkish candidates. Turkish immigrants are the country’s largest ethnic group of non-German origin and economically, Germany and Turkey share close links. Germany is Turkey’s largest export market for goods and services. Yet, ESMT sees relatively few Turkish applicants for MBA programmes. Nick Barniville wants to change this: “We believe we have opportunities for Turkish students and have several successful alumni from Turkey, the majority of whom found really excellent managerial positions back in Turkey with companies such as GE and Bayer.” There are, however, a few MBA myths around in Turkey that can present problems for the recruiting business schools. “There is confusion about the MBA brand in Turkey. The challenge in Turkey is the prevalent approach of a potential MBA student to go for a pre-experience Masters, which is called ‘MBA’ in Turkey but would be called a ‘Masters in Management’ in Western Europe or the US. There are many reasons for this, but it makes it more difficult to attract qualified and experienced professionals to a full-time programme after some years of work experience,” explains Nick Barniville. ESMT still foresees tremendous opportunities in the country, though. Will the school even consider founding its own campus in Turkey and follow into the footsteps of the first German-Turkish University in Istanbul? Nick Barniville says: “We are always open to cooperating with top Turkish programmes, but this is more likely to be in the area of executive education programmes or, who knows, joint degree programs in the future.”
The Turkish MBA market
Turkey is an emerging MBA market. The country has currently about 13 schools offering different MBA courses but only three schools with accreditations from AACSB, Amba or Equis.
Turkish Universities with accredited MBA programmes are:
Koç University
Istanbul, Turkey
http://www.ku.edu.tr/en
Bilkent University
Ankara, Turkey
http://www.bilkent.edu.tr/index.html
Sabancı Universitesi
Istanbul, Turkey
http://www.sabanciuniv.edu/eng