Lake Forest Graduate School of Management Business School

Lake Forest Graduate School of Management, Lake Forest Graduate School of Management Business School History

Lake Forest Graduate School of Management, founded in 1946, is a private, coeducational institution. The campus is located in a suburban area 35 miles north of Chicago. Total undergraduate and graduate enrollment is 819.

The graduate business school was founded in 1946 and is located in its own building. The Lake Forest MBA is also offered in Schaumburg at Motorola’s Galvin Center and in downtown Chicago at the Federal Reserve Bank Building. Customized on-site MBA programs are offered at several Chicago-area companies. The basic educational approach is to focus on the working professional, using a practical, integrated approach to developing the MBA curriculum.

Lake Forest Graduate School of Management, Lake Forest Graduate School of Management Business School Academics

The Lake Forest MBA program offers the Master of Business Administration (MBA). The strongest areas of study are general management, organizational behavior, and international management. The most popular courses are International Management, Innovation Leadership, Ethical Leadership and Decision Making, Dynamics of Effective Leadership, and Negotiations and Conflict Management. Regular programs bring distinguished speakers and visiting professors to campus. Guest lecturers are featured regularly in the classroom in addition to special programs offered to the entire business school community.

Sixteen total courses are required to complete the MBA, including 3 elective courses. Required courses include:

• Executive Communications
• Financial Accounting
• Critical Thinking through Case Analysis
• Research Methods for Management
• International Management
• Financial Management
• Management of Human Resources
• Managerial Accounting
• Marketing
• Leading Organization Change
• Operations Management
• Strategic Management
• Business Economics

Students may eliminate or substitute requirements by transferring a maximum of 3 courses from other accredited graduate programs, pending the dean’s approval. A student who satisfies the school’s criteria for competence in a subject may be waived from a course. That course must be replaced with an elective course so that the total number of courses completed remains at 16 for the MBA program.

The minimum time permitted to complete the master’s degree program attending part time is 2 years; maximum, 6 years.

There are 150 part-time faculty, of whom 15% hold a doctorate. Average number of courses faculty teach is 2; average business class size is 22.

Lake Forest Graduate School of Management, Lake Forest Graduate School of Management Business School Unique Programs

Library

In addition to the e-library, students have access to additional reference resources located near each campus, including the Harold Washington Library Center in Chicago.

Computers

Graduate business students must have their own PCs. The business school has its own computer facilities, consisting of 12 PCs on the Lake Forest campus, 8 on the Chicago campus, and 8 on the Schaumburg campus. Windows, Microsoft Office 2000, and Internet Explorer are available to all students during business and school hours. Wireless Internet access is available at all 3 campus locations.

Career and Job Placement

Placement services for alumni include a free on-line job search, information on resumes, interviewing, and search strategies, and more. Placement is available through Dana Krajewski.

International Students

International students must take the GMAT and provide a writing sample. They also must submit a translation of their transcripts. Check with the school for current application deadlines.

Calendar

The school operates on a term basis. Terms are 10 weeks long; summer sessions, 5 weeks. Graduate programs are offered during the evening only and weekends.

Lake Forest Graduate School of Management, Lake Forest Graduate School of Management Business School Admissions

A bachelor’s degree is required. Most important admissions factors are a successful interview, work experience, and academic accomplishments and ability. A strong mathematics background is not required.

300 students enrolled in the 2006-2007 class. Transfers are accepted.

Students may begin the MBA program in the fall, winter, and spring. To apply, students must submit an application form, all transcripts, GMAT scores, and 2 letters of recommendation. A personal interview is also required. Check with the school for current application deadlines. Students are notified of the admissions decision within 2 weeks from the time all admissions requirements have been received. Once accepted, students may defer admission for up to 1 year.

Lake Forest Graduate School of Management, Lake Forest Graduate School of Management Business School Financial Aid

About 30% of graduate business school students receive financial aid from scholarships, loans, and graduate assistantships, for a total average of $2200 annually. The FAFSA and the previous year’s tax return are required. The application deadlines are rolling for fall entry; rolling, winter.

Tuition for all students is $2475 per course. Graduate student housing is not available.

Lake Forest Graduate School of Management, Lake Forest Graduate School of Management Business School Students

All of the current graduate business school class have had an average of 13 years of full-time work experience prior to entering graduate school, a factor preferred by the school. The greatest percentage of students are from Illinois (99%). Forty percent are women and 18% are minorities. The average age at entrance is 37; ages range from 24 to 56. Fifteen percent already have a graduate degree. Students’ undergraduate majors were as follows: 36%, business; 24%, math and science; 20%, engineering; 9%, liberal arts; 5%, social sciences; and 1%, economics. About 6% of entering students leave by the end of the first year due to academic or personal reasons; 73% remain to receive their degree. In 2006, 262 graduate business degrees were awarded.