8 Changes In B-Schools In The Future

Pratima Sheorey Oct 06, 2019

Over the last decade, the world has witnessed many economic developments that have directly impacted businesses. Therefore, educational institutes had to undergo massive transformation to support the altering demands of the market. In the coming years, companies will become even more reliant on technology. They will need to function under extremely volatile and complex situations. Therefore, another transformation is on the horizon.

One of the cornerstones of a good MBA school are its faculty. There is a need for the faculty to stay updated constantly to deliver learning to the new age students.

Let’s look at eight aspects that will heavily influence B-School curriculums and how they will impart education:

Interactive and Immersive Pedagogy

Today, management education still relies on textbooks and e-learning resources. However, B-Schools will soon need to introduce interactive and immersive curriculums. This new style of learning with the help of tools like Virtual Reality, Augmented Reality and Mixed Reality, will allow students to cross conceptual and theoretical boundaries. Such methods of learning will encourage students to move beyond passive learning. Immersive and interactive education will foster self-learning and give students the opportunity to learn by doing.

Blended Learning

The technological revolution of the 21st century has led to students growing up in a society where technology is readily available and affordable. The rapidly transforming landscape of today demands that teaching methods also evolve. Incorporating technology into learning models results in hybrid programmes with both in-class and online lectures. Such programmes make education convenient and flexible; allowing people from different walks of life to gain management education when they need it.

Experiential Learning And Applied Research

Experiential learning is designed to help students develop knowledge, skills, and values with the help of experiences as opposed to in-class lectures. Various activities such as internships, applied research, study abroad programmes, and other creative experiences are a part of this learning method. Experiential learning also encourages skills like critical thinking, cultural awareness, leadership, and other professional skills.

More Inclusive Collaboration With Corporates

Industry leaders often say that management students lack the skills to do a job. Therefore, it’s imperative that management institutions design a curriculum that allows for industry collaborations that can help students become job-ready. The future will consist of organizations that will play an active role in designing the curriculum, providing on-the-job training, asking students to present their business ideas, do regular faculty immersion programes to enable them to build the currency of practice.

Creation Of An Entrepreneurial Ecosystem

Placements play a significant role when it comes to students choosing their ideal business school. While placements alone have been satisfying the masses so far, that will soon change. The newer generation of management students is more inclined towards being entrepreneurs. Therefore, management schools will need to start creating the right ecosystem for students with entrepreneurial dreams, along with those looking to work with other organizations. This entrepreneurship ecosystem will most likely consist of:

Extensive networks with startups, investors, organizations, etc
Intensive coursework with a focus on entrepreneurship
Training with regards to creating a business model and pitch

Flexible Curriculum Personalized To Student Interests

While niche programmes and specializations are slowly entering mainstream MBA education, there is still a long way to go. Student expectations and industry requirements are evolving; necessitating a future of customized curriculum. A flexible curriculum allows students to design their semesters based on their interests and goals. The freedom to choose their subjects opens the door to develop in-depth knowledge in a particular field at a time, place and pace of the learner’s choice.

Internationalization And Building Globally Relevant Understanding

The advancement of technology, the internet, and social media has changed the business landscape dramatically. It’s common for businesses to carry out transactions around the globe. Therefore, it’s essential that business schools churn out students who have an understanding of global trade, economy, and culture. Business schools can prepare global managers by developing an immersive curriculum that encourages global industry visits, collaborations, internships, student exchange programmes, and more. Global exposure within the safe ecosystem of a b-school will allow students to build the much needed global understanding.

Building Socially And Environmentally Responsible Leaders

The demand for sustainability, environmental and social accountability and ethical practices among management graduates is growing. Today, leaders are expected to make a difference in the world. Therefore, business programmes must start to focus on creating leaders who are ethical along with being environment and community conscious.

To conclude, ten years from now business schools will need to shoulder greater responsibilities than they do today. Those who can successfully incorporate such changes will remain to stand, while the rest will turn obsolete along with old academic approaches.

Who knows, we may need to revisit these 8 aspects in less than a couple of years from now. The rate of change is fantastic and only those, agile enough to adopt and move forward at a lightening pace will even have a chance at survival.