Does the business world still consider an “E-Business” concentration to be valuable for today’s MBAs? Or has the bloom faded from the rose? Has the dot.com and gone for MBAs?

According to a survey of 50 top Chicago-area business and Internet CEOs, the answer is yes–and no. As one of them put it: “New MBAs’ non-fearful approach to technology breeds new ideas. But most of these ideas then need to be blended with real-life experiences.”

Three-quarters of the executives responding to the survey agreed that it’s a company’s mix of “experience and fearless new blood” that is most needed by business today. As the CEO of one still-surviving dot.com said: “New MBAs are well equipped to assess how Internet technology can impact a business’ strategy. It’s up to management to decide the level of commitment.”

The 50 executives–CEOs, venture capitalists, and senior consulting partners—who completed the survey were all guest speakers in E-Business MBA courses at DePaul University’s Kellstadt Graduate School of Business during the last year. DePaul Accountancy Professor Lynne O’Shea, who teaches in the program and conducted the survey, believes that despite the downturn among dot-com start-ups, MBA students with New Economy know-how still will be in demand at traditional companies that have integrated the Internet and other technologies into their businesses. “DePaul MBAs tend to come into our program with such a grounded, real-world orientation that the glamour of the dot.com frenzy was always second to their ‘show me the bottom line’ pragmatism,” she said.

DePaul’s part-time MBA program is ranked fourth in the nation by U.S. News & World Report in its annual graduate school rankings. Kellstadt began offering electronic commerce courses in 1996 and now offers 23 classes in its E-Business MBA concentration and master’s degree in E-Business programs.

The 50 executives were culled predominantly from Crain’s Chicago Business’ list of 100 top Internet executives, 2001. The survey question answered by the executives was: “In your experience, do new MBAs bring radical new thinking, rather than simply incremental thinking, about ways to use the Internet for efficiency and effectiveness? In what ways?”

Kellstadt’s part-time MBA program is the largest part-time program in the world accredited by AACSB International—The Association to Advance Collegiate Schools of Business. Overall, with approximately 2,550 students, Kellstadt is the eighth-largest graduate business school in the United States accredited by AACSB—International.

Editor’s Note: Lynne O’Shea can be reached for interviews at (312) 362-5633.