The Future of the MBA Program: What’s to Come at Business School

Looking ahead, and how to best adapt in order to effectively nurture the world’s next business leaders is an essential requirement of business education. After all, it would be a waste of time and money if an MBA graduate were to re-enter the job market having only mastered the past and present of business, but had little understanding of the future.

“Business schools will need to continue predicting the needs and shaping the education of future graduates of MBA programs,” explains Erica Hensens, program director for the full-time MBA program at London Business School.

“They will also need to work with employers and other stakeholders to measure success and respond accordingly.

“Without doubt MBA programs will need to evolve and change in the coming years to ensure that schools can respond to both student and recruiter demands. In fact, I think that change is already taking place across a number of schools.”

Business education that focuses on the individual

At the University of Oxford’s Saïd Business School, the feeling is that the future of global business is best served by helping individual students to become greater leaders.

Stephan Chambers, MBA director at Saïd predicts that: “MBA programs will become more and more focused on the individual, as opposed to the firm, the function and the sector, and will look more like current executive education programs, addressing very explicitly the question ‘what should leaders be?’ as opposed to, as currently, ‘what should leaders know?’”

In doing so, traditional modes of education are likely to evolve, utilizing the opportunities of the on-going digital revolution to a greater degree.

“Daytime programs will likely continue to evaluate opportunities to take advantage of the ability to become less synchronized by allowing for content delivery across geographies as well as at different points in time,” explains Russ Morgan, professor of marketing and associate dean of The Duke MBA’s daytime program atFuqua Business School in the US.

Breaking down borders with technology on MBA programs

“Opportunities to richly interact across geographies without having to physically co-locate will continue to expand.

“While EMBA programs have long had models that have worked well along these lines, daytime programs are also taking advantage of accessible technology that has enabled interactions such as high quality interactive video sessions with guest speakers and alumni.”

But, while an increase in the technological tools available should create more effective teaching methods, many point out that caution needs to be exercised by MBA applicants themselves, as different delivery modes suit different people.

“Of course virtual learning is gaining a greater foothold within education and many MBAs are, or will be blending traditional class room teaching with virtual tools,” says Steve Cousins, MBA recruitment and admissions manager at Cass Business School in the UK.

“Something prospective students will need to assess when looking at MBA programs is what the most effective learning delivery or blend for them is.”

As technology comes to play a greater role in education, many are concerned that this could be to the detriment of traditional managerial skill-sets. Hensens at London Business School highlights that MBA programs are reacting to this.

Preserving soft-skills during MBA education

“Strong communication skills will always be important. With increases in more informal and less personal interactions there might be a tendency to assume these skills are either less important or intuitive, which would be a mistake.

“I think schools are already taking this into account in managerial communications classes and career management sessions. I expect that development to only increase in importance going forward.”

“Clearly technology plays an enhancing and disruptive role in education,” says Dr Janet Shaner, director of MBA program design and delivery at IMD in Switzerland.

“The trends we see enhance the power of education through a wide range of communication means. MBA programs will provide the best impact for their students by aligning the technology or communication method with the most effective method of learning.

“Each has an important role to play in MBA education. This expanded range of communication is a reality in companies as well, so programs and students who master both real and virtual communication methods will be best prepared to make an impact in their companies post-MBA.”

MBA applicant desire: a catalyst for change

It’s this idea of graduates making a positive impact in business post-MBA that drives change at business schools.

Notably, rather than simply reflecting existing business practices, many changes to MBA programs have come about as a result of student ideals, which in-turn are reflective of events in global culture.

“The business world is in a period of huge change - regulation, practices, expectations, beliefs and needs have all shifted in recent times,” points out Cousins at Cass.

“This in turn alters the needs and desires of MBA students.

MBA entrepreneurship and sustainability gaining greater ground

“We have already seen a greater interest in entrepreneurship and a shift away from students seeing the MBA only representing a move to a highly paid job.

“Of course students still have career and return on investment in mind, but they are putting a greater emphasis on the overall experience and personal development an MBA brings, giving a more balanced view of where to take their career.”

As Dr Shaner at IMD emphasizes, the evolution of business education that has occurred since the degree was first introduced over a century ago needs to continue in order to best cater for the stakeholders of business education: graduates, businesses, and global culture.

“This could mean, for example, additional integration of sustainability discussions and education in the mainstream business education, additional use of technology through video, social media, and remote means of communication to enhance in class learning, additional enhancement of curriculums through real world projects, or visits to other countries to link more strongly real world context with classroom learning.”

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