Egon Zehnder International Executive Panel Says Executives Need More than MBA to Prepare for Business Challenges

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Egon Zehnder International Executive Panel 2007 spotlights education as key to future for leaders, firms and economies. The Panel's annual research reveals that MBA is only a launch pad for business executives today.

Designed to highlight the management priorities of top executives worldwide, the survey demonstrates that, despite growing globalization and cross-pollination of business practices, national differences still exist in the way challenges are perceived

Only one in five international executives believe that an MBA prepares people to deal with the real-life challenges that a manager has to face, according to new research released by Egon Zehnder International. The firm's third annual International Executive Panel revealed surprising insights into what international companies are looking for when hiring new executive talent, and the competencies that a future executive needs to develop.

"The panel's input reveals executives around the globe view an MBA as a good launch pad, but really no more than that," said George Davis Jr., Co-Managing Partner North America of Egon Zehnder International.

Another highlight from this year's panel - when it comes to education issues, America is the top-ranking player. Thirty-eight percent of executives surveyed consider the American educational system the best in the world.

"When it comes to educational issues, the United States is the top-ranking player. International executives cite our excellent universities, American spirit of competition and university system's close links between theory and practice as the hallmarks of the American educational system," said Davis.

Interestingly, the survey found that ethical behavior is the top-rated "extremely important" qualification for white collar professionals according to American and British executives, while the French respondents unanimously gave the highest marks to personal charisma.

Egon Zehnder International conducted the first of its executive panels in 2004, questioning senior executives from the United States, United Kingdom, France and Germany about current challenges facing corporate management. In creating its International Executive Panel, Egon Zehnder International successfully developed an innovative resource by which it can measure the opinions of influential corporate decision-makers from four of the world's leading economic nations against the backdrop of current developments.

"Designed to highlight the management priorities of top executives worldwide, the survey demonstrates that, despite growing globalization and cross-pollination of business practices, national differences still exist in the way challenges are perceived," said Davis.

Follow the link for the summary of survey results. For more details, please contact Lauren Dettloff or call 312-751-3540.

SURVEY METHODOLOGY

Egon Zehnder, the largest privately held executive search firm, measured the opinions of its International Executive Panel. Between November 14 and December 15, 2006, EZI conducted online interviews with 133 top board members and executives in Germany, USA, UK and France. The sample was comprised of 42 German executives, 37 US executives, 28 UK executives and 26 French executives age 30 and older. 39% of those sampled were CEOs, Owners and chairmen. The results are based on an equal weighting for each country.

ABOUT EGON ZEHNDER INTERNATIONAL

Egon Zehnder International specializes in assessing and recruiting business leaders with outstanding track records who will create competitive advantage and sustainable value. The worldwide success of the firm is built on insights into the people dynamics of corporations and their leadership requirements at the highest levels.

Egon Zehnder's clients range in size from the world's largest corporations to emerging growth companies, in addition, to government and regulatory bodies and major educational and cultural organizations.

For clients operating in selected industries, EZI has sector specialists organized into global practices. These include Financial Services, Consumer, Life Sciences, Technology & Telecoms, Industrial, Services and Private Capital.

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Lauren Dettloff
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