The programs will be custom-developed for Intel employees, and will combine onsite and online education.
Intel hopes the program will allow it to attract and retain employees, who might otherwise leave to pursue the advanced degree. The program is expected to begin in mid-2001 and include 25-30 students.
Intel plans to cover the full tuition cost of $52,500 for its employees in the Babson program. Babson is based in Wellesley, Massachusetts.
The Babson curriculum will be developed around real Intel work projects, and program graduates can earn an MBA in 27 months.
Babson faculty will hold classes once a month at Intel locations in Portland, Ore. and Santa Clara, Calif.
Meanwhile, the Internet-based portion of the curriculum allows participation of employees from multiple locations with a minimized impact on their day-to-day productivity. It also permits an expanded use of guest lecturers from around the world.
In a press release, Alan Fisher, extended education program manager at Intel, notes “We looked to work with a provider that could offer a degree based on real work, not just homework.”
Babson and Cenquest, who is working with Babson to design the online content, plan to market the Babson onsite/online hybrid MBA program to other corporations.