Future Scenarios for Management Education

• Main Authors: THOMAS, Howard, LEE, Michelle P., WILSON, Alexander
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2014
• Subjects: Management education; Business schools; Masters of Business Administration (MBA); Business; Higher Education
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/3983; https://ink.library.smu.edu.sg/context/lkcsb_research/article/4982/viewcontent/auto_convert.pdf
• Institution: Singapore Management University

Business schools are facing unprecedented challenges, ranging from financial sustainability in some quarters to waning demand for the MBA to the potentially disruptive impact of massive open online courses. Given these challenges, how might the future of management education unfold? The purpose of this paper is to better understand how leaders in management education perceive these challenges and their likely impact on the evolution of the field. The authors conducted in-depth interviews with 39 experts, the majority of who were in leadership positions at business schools. Each of these in-depth interviews was tape-recorded, transcribed and then content-analysed. The authors asked the panel of experts for their insights on what they perceive to be the most likely, best-case, and worst-case scenarios in the next ten years. The modal response for the most likely scenario was one where intense competition pushes schools to specialise and better differentiate their offerings, as they attempt to strengthen their position in the market. The best-case scenario was one where schools move closer to the practice, in an attempt to regain relevance and legitimacy. Finally, the experts described the worst-case scenario as a situation where management education as a whole fails to respond to the criticisms and challenges, leading the field down the path of greater and greater irrelevance. The insights gained from this research can be of strategic value to administrators and those in leadership positions in business schools who wish to anticipate shifts in the management education landscape and strategic responses of peer schools.