Mastering entrepreneurship

Currently on its 11th run, the Master in Entrepreneurship (ME) program of the Asian Institute of Management (AIM) has found its students clustering into two major groups: true-blue entrepreneurs who created their businesses and now need to further expand or to reorganize for sustainability, and children of enterprise owners who are bound to inherit the family business but need to earn their credentials and hone their skills.

Professor Danilo A. Antonio, who quietly made his fortune selling his interest in property developer Landco to the Metro Pacific group in 2000, is recognized as one of the gurus of AIM’s ME program, and a favorite adviser and mentor to enrollees.

As a successful businessman, Antonio brings with him a wealth of experience ME students can draw from in their own search for business success. "After I got out of Landco, I made a conscious decision to earn less and became a full-time faculty member of AIM," he said.

Antonio naturally gravitated toward the ME program where he is able to share in depth his experiences and marry these with theories that form the bases for business management. This marriage of theory and practice has made the difference for over a hundred graduates who applied what they learned and made their respective businesses stronger after three modules and 18 months of study.

To qualify, applicants to the ME program must have a registered business that has been in operation for at least one year. If a second or third generation entrepreneur, he or she must be serving the family enterprise as general manager or its equivalent and must have more than two years experience running the business.

Those who do not have their own businesses are advised to attend the Venture in Entrepreneurship program, a non-degree course offered by AIM’s Asian Center for Entrepreneurship which also handles the ME program.

ME enrollees normally have vague business goals when they enter the program. Faculty members help them clarify these goals and flesh out strategies either to increase sales and income by a certain multiple, or to turn around or break-even a losing venture.

"This is very effective because there is immediate application of what the students have learned. The results are real-time," said Antonio.

While the first module is heavy on theory, covering basic business concepts from scanning the environment to internal business analysis, the output is quite practical, a 12-month budget which they will defend.

The second module requires heavy interaction between the faculty adviser and the student. The business guru acts as both task master and mentor, monitoring the student’s performance on the basis of how he or she is meeting the targets set in the first module’s budget. Variances must be explained and if unfavorable, corrected.

Once the students prove that they are capable of running a business in the second module, then they proceed to the third module which involves longer range planning. The output is a five-year business plan which they must again defend to a panel.

Antonio admits to academic rigor in the ME program. "We are dealing with real businesses, real investments and real money. This is not simply theory but real time application of theory. In addition, AIM has to maintain its accreditation with AACSB (American Assembly of Collegiate Schools of Business)."

AACSB International accredits professional schools around the world for their commitment to quality and continuous improvement through a rigorous and comprehensive peer review. Accreditation is considered a hallmark of excellence in management education.

Antonio hopes he can convince his co-entrepreneurs to teach as well. "A lot of those who teach are not in business. You need an entrepreneurial background in order to mentor well in a program like ME. I hope I can convince more of my colleagues to earn less."

The 12th ME program begins on July 17.

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Asian Center for Entrepreneurship
Asian Institute of Management
Eugenio Lopez Foundation Building
Joseph R. McMicking Campus
123 Paseo de Roxas, Makati City
Tel.: 892 4011 ext. 220, 332, 389, 432
Telefax: 813 3302