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See The Future - A Brave New World For Business Education

Posted by Matthew Wood in Press , Career Dev. , Research , EFMD , Network news

Created on Sun 18 August 2013 18:04

And tagged with: EFMD , MBA , career , brand , carringtoncrisp , cost , see the future


see future 2013

See The Future - A Brave New World For Business Education

A new survey on the future of business education suggests demand from students and employers is growing for a more sustainable, international and technological future.

A Brave New World For Business Education - Money Or Fulfillment, China Or Chicago, Sustainable or Shareholder Value, on Campus or Online?


A new survey on the future of business education suggests demand from students and employers is growing for a more sustainable, international and technological future.

With much uncertainty in business education during the global financial crisis, CarringtonCrisp, supported by EFMD and ABS, launched the See the Future research study to better understand some of the key issues in business education over the next few years.

Andrew Crisp, one of the authors of the See the Future report commented “Students are embracing change faster than business schools. Many of the changes have been accelerated by the global financial crisis, vast growth in international study and rapid adoption of new technologies. The generation entering business schools today have grown up with digital technology, it’s a core part of their lives, they expect it to be part of education and understand it offers the opportunity for lifestyle learning”.

Working with 37 business schools CarringtonCrisp conducted an online survey that attracted 5365 respondents from 137 different nationalities. Some of the key findings are set out below.

Value of a business education

  • More students value a business education to get a more fulfilling job rather than a more highly paid job

Business in society

  • Over 70% agree that business models need to change to better engage with society
  • More than 81% agree that business needs to be about more than just maximising shareholder value
  • However 8% of prospective undergraduates disagreed that business leaders should behave ethically at all times

Sustainability, ethics and corporate social responsibility

  • More than 80% of respondents agree that ‘sustainability and ethics should be embedded in all business education programmes’
  • Just under half of all respondents agree that ‘schools that don’t teach sustainability, corporate social responsibility and ethics should be ranked lower than those that do’
  • Over 60% of respondents agree that ‘business schools should run projects to give back to local, national or international organisations and communities’

Internationalism

  • While the USA and the UK remain the most popular destinations for international study, Singapore and China are on the rise, ranking 4th and 6th respectively with many respondents
  • More than 30% of respondents choose a international study destination because they are ‘attracted by the sporting and cultural profile of the country’
  • Over a third of all managers and directors agree that ‘graduates should learn another language as part of their degree’. 

Technology

  • More than 50% of all prospective students agree that they ‘would not study a business programme in a MOOC’
  • Around half of all managers/directors agree that ‘I am uncertain of what a MOOC offers and how it can be part of a business degree’ and that ‘I would not recruit a graduate who had only studied online’
  • More than 60% of all current students agree that ‘For academics, technology often means little more than using a PowerPoint presentation’
  • Over 70% of prospective and current students and alumni want lifestyle learning, using technology to learn around work and family commitments

Despite the uncertainty and upheaval in business education, between 70% and 80% agree that business is a force for good in society. Demand for business education seems likely to remain strong, albeit with changing content, in different locations, delivered in new formats and with changed outcomes.

Background information
Data was collected for the See the Future study in May 2013.  Respondents were prospective students, current students, alumni and employers. Copies of the full report are available for £360 (+VAT where applicable).  To purchase a copy of the full report email: info@carringtoncrisp.com or purchase by credit card through PayPal on the See the Future page.

For further information, please contact:

Andrew Crisp, CarringtonCrisp
andrew@carringtoncrisp.com, +44 (0) 207 229 7373 or +44 (0) 7802 875260

Matthew Wood, EFMD
matthew.wood@efmd.org, +32 2 629 08 10