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Are Business Schools Doing Enough to Adapt to a Shifting World?

Posted On : May-28-2010 | seen (901) times | Article Word Count : 499 |

Since late 1960s when a lot of business schools opened their doors and began to churn out MBAs, they have presided over a staggering expansion, with a spike in the number of graduates that is impossible to overlook. Their prestige has steadily risen, as the alumni went to make an impact in the business world and proved their skills in practice, often giving back to their alma mater in endowments.
Since late 1960s when a lot of business schools opened their doors and began to churn out MBAs, they have presided over a staggering expansion, with a spike in the number of graduates that is impossible to overlook. Their prestige has steadily risen, as the alumni went to make an impact in the business world and proved their skills in practice, often giving back to their alma mater in endowments. Some of the most exciting and best-earning professions, including bankers and consultants, have eagerly tapped the pool of MBA graduates, contributing to the appeal of business education as a passport to the club of high-fliers. The finances of business schools have continued to be the source of envy for the rest of the academia and even exorbitant prices of tuition have not stopped the inflow of MBA candidates. But these champions of modern capitalism are in need of some overhaul if they want to keep being in luck.

There are multiple threats that can undermine their empire. First, the job market is sending more and more unsettling signals. Graduates of mathematics, physics or computer science are being viewed as ideal candidates for high-powered positions that require analytical acumen and familiarity with ways of solving complex calculations and maths-based tasks. Their practical and solution-oriented attitude to assignments make them perfect employees in large organizations, in demanding settings. If these advantages are coupled with some in-company training and experiences, the resulting mixture may indeed outperform softer assets that business school graduates are generously equipped with.

Second, business schools might have share the blame for the recent financial crisis and its repercussions, since quite a number of their alumni have been in the ranks of top global players who dreamed up toxic solutions and perpetuated catastrophic policies. It is impossible to pin the guilt a individuals, but misguided approaches may have originated partly in MBA seminars and workshops. This is often coupled with criticism of impractical, theory-driven curricula that remain out of touch with business realities. To redeem themselves, schools are trying to team up with outside institutions and businesses in a bid to infuse real world into their programs. That is good news, but the downside is that such moves are likely to inflate course prices even further.

Despite all these challenges, business schools remain vibrant and flexible institutions. The best players have already embraced globalization, setting up campuses around the world, especially in a developing Asia. This generates extra income from overseas students, but also opens international opportunities for all their students wishing to study abroad. Courses are being redesigned, shortened and reoriented. Executive training programs can be completed faster and in multiple ways. Often schools bank on tailoring their offer, setting up some customized executive program that sets them apart from competition and captures the mood of the market better than their standard programs. Anyway, schools are bound to practice what they preach in the near future – the art of innovative management.

Article Source : http://www.articleseen.com/Article_Are Business Schools Doing Enough to Adapt to a Shifting World?_20377.aspx

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Category : Business : Business

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