New online business school set to launch after one-semester delay

New online business school set to launch after one-semester delay

The Jack Welch Management Institute - an online schoolbacked by the former CEO of GE - has announced it will start offering classes on January 4. The semester-long delay was caused by Mr. Welch's health problems which have now been resolved.

The program, which aims to attract working Americans, including entrepreneurs and veterans, is affiliated with Chancellor University in Cleveland and is expected to name Steve Kerr - a former head of GE's Leadership Development Center in Crotonville, New York - as executive director, according to the Wall Street Journal.

"[Our] classes will be small, students and faculty will get input from Jack and the curriculum will be current and relevant to today's news," said Kerr, quoted by the news provider, while Welch stressed that "we want this to be a premium school."

Busy professionals, working parents or people living in remote areas who would like to switch careers or launch their own business may consider enrolling in a convenient, flexible and cost-effective MBA program.

PayScale.com, a research company, says that average salaries for holders of MBA degrees ranged from $73,510 to $171,583 in 2008, depending on the field, position and years of experience.