By Jan Asnicar

A contemporary humorist sums it up well when he says, "We have more degrees, but less sense; more knowledge, but less judgment; more experts, yet fewer solutions..."

Colleges and universities have been preparing thousands of people over the last decade to play critical roles in all types of organizations. The typical preparation often includes conferring an MBA degree on these future leaders. But are these individuals prepared to lead?

In 2000, more than 100,000 students graduated with an MBA. What skills do these MBA graduates possess? What are organizations most interested in when hiring newly minted MBAs?

'Smart' Isn't Enough
For the past several decades, the focus was on ensuring that MBA grads had a solid foundation in the basics of business-marketing, accounting, finance and economics. The best and the brightest were recruited to the high-profile business schools. These graduates were our next best hope for sustaining economic and financial dominance in the world. They were smart. Jeffrey Skilling (Harvard MBA) was smart; so was Andy Fastow (Northwestern MBA). They, along with their very smart leader, Kenneth Lay, brought the walls tumbling down on a business that was the sustenance for thousands of "regular guys." U.S. District Judge Sim Roones said of Kenneth Lay, former Enron CEO, "His crimes have imposed on hundreds, if not thousands, a life sentence of poverty."

So what's missing?

Character.

It's one word-easy to identify when you see it, hard to pretend to have it. It is the difference between Kenneth Lay and Bill Gates. Again, George Carlin nailed it when he said, "These are the times of fast foods and slow digestion; big men and small character; steep profits and shallow relationships. It is a time when there is much in the showroom window and nothing in the stockroom."

Should MBA educators have a stake in providing the missing link? The answer must be, "If not educators, then who?"

Scrutinize MBA Programs
So what should a prospective MBA student look for when searching for programs? Following are the top 10 things that are crucial to separating institutions and programs that are focused on developing leaders with character from those that are churning students through a program:

1. Check to see if the MBA program includes multiple in-class opportunities to troubleshoot interpersonal issues. These are the same issues that change the course of businesses.

2.  Determine if the study and discussion of ethics is relegated to a course offering rather than embedded throughout the program. Ethics is not a checkmark. It is a lifestyle.

3. Discover if there is a focus on learning why it is important to create, embrace and manage conflict in every area of business. Encouraging different ideas and discussion of different directions helps keep a business honest.

4. Find out if your instructors will have recent, real-world experience. The best learning laboratories are in the offices, boardrooms, cubicles, conference rooms and technology centers. If faculty members are out of touch, the concepts taught also will be.

5. Ask what the referral rate is for the MBA program. Good programs will tend to have high referral rates. One local university has a referral rate of over 70 percent. That suggests that students and their financial backers (often employers) like what they see.

6. Check the retention rate. Today's economy is a service-oriented economy. If the university you are considering does not treat you like a customer both before, during and after your experience as a student, then they are out of step with the world they are attempting to teach about in the classroom.

7. Find out how the university you are considering is linked to the community. How long have they been in existence? How long have they been in Kansas City? How committed are they to ensuring that this community (your community) is becoming a stronger one?

8. Ask how the university bridges the communication gap between the institution and the working adult student. If they don't have both formal and informal channels already in place, chances are good that you will be out the loop.

9. Check the graduation rate. The world is filled with adults who started programs and never actually graduated with their degrees.

10. Consider the total package-reputation, cost, services, benefits and amenities offered by the institutions. Make your choice based on the school that offers the best overall program complemented by a "high-touch, high-tech" service philosophy.

Character Wins in the End
Author Alan Webber asked what would happen if business men and women sought to establish social values along with the ability to enhance shareholder value. He said, "What if instead of writing books called 'Winning,' they called their books 'Contributing?'" Building people of character will allow businesses to serve a purpose higher than just making a lot of money. And character is sustainable and likely to win the long race-the one that really matters.

Jan Asnicar is associate dean at Baker University's School of Professional and Graduate Studies. She has been instrumental in the development of the programs designed specifically for adult students. She also teaches in the graduate programs designed for adults including courses in ethics and humor. You can reach her at .