The way people are learning and seeking education is drastically changing. Ever since the outbreak of the pandemic things have turned upside down in terms of formal university or college-level education. There have been numerous factors that impacted both the students and the educators in a tremendous way, with reports of people feeling more anxious, hopeless, and depressed. Luckily, modern technology has enabled people to breach the gap and from 2020 up until now, things have greatly stabilized with people realizing the massive advantages that come with the new fully online or hybrid education models. This has been especially eye-opening in the world of business education, where it is reported that more and more students are looking for more convenience, flexibility, and cost-effectiveness in their education. Here are five ways business education is changing right now.
A multidisciplinary approach
Modern markets require people to be proficient in several different skills. That is why the traditional business education pathway is completely changing. Nowadays, schools all over the world are taking a more interdisciplinary approach and are collaborating with different departments in various fields such as design, humanities, political science even natural sciences. Modern economy and businesses are incredibly complex and that is why business schools are trying to produce students that are going to be capable and competent to handle challenges outside their traditional domain. For instance, a lot of economy and business management revolves around data interpretation and manipulation, which is why many courses teach coding skills that can help students become more efficient while handling and analyzing data. Other business schools such as University College London are taking a different approach and have shifted their focus toward healthcare with specialized master’s programs in biotech and pharmaceutical management.
More business schools are also taking an eco-friendlier approach and are looking into the ways they can cut carbon emissions associated with running their programs. A remarkable example comes from the ESSEC Business School in France which is attempting to cut carbon emissions by as much as 25% in 2022. There are many ways people can do this. The school management has decided to shift the focus of their school trips, where students will minimize abroad travels and instead visit local European schools via train. Modern technology such as VR has also been a generous contribution towards this noble cause, where students can attend online conferences much more easily. Many business schools are also adjusting the content of their curriculum accordingly with many master’s programs in environment and sustainability management as well, which is another wonderful attempt at integrating an interdisciplinary approach to education.
A new approach to campuses
Taking a technologically-enriched learning approach is a very good idea. What once seemed like a fantasy is now, slowly but surely, becoming the new norm. In 2022 there are massive improvements to the way people use university campuses. Schools are bridging the gap between real-life and virtual learning environments. The change is occurring at all levels of the organization and it doesn’t only affect the students but also the schools’ management. That is why schools that are determined to really thrive in this modern educational setting are incorporating online program management, aimed at improving the way schools operate by offering unique data-backed insights and strategic blueprints. In addition, many business schools are now implementing hybrid or fully online-ready teaching facilities. For instance, Columbia’s new campus comes fully equipped with microphones, cameras, and other new hybrid-enabled learning tools.
There are also new ways to offer more flexibility in education and it mostly comes down to offering credentials, certificates, and degree programs in a stackable manner. In a recent survey over 70% of business school leaders have recognized the value that alternative credentials have. For instance, Saint Joseph’s University Haub School of Business completely reinvented its MBA program with full flexibility that comes with a stackable, three-certificate model. All that students have to do is stack three of the certificates in order to gain full MBA certification. The best part of all is that it can be done completely online or in person. This is designed in such a way to recruit more students by offering them many benefits of this approach such as lower cost, remote learning, and complete credit-bearing courses. This allows schools to create better brand awareness and attract more talented people.
There is also a massive change that will occur regarding business school culture. This is simply because times require the culture to change. One of the biggest reasons for that is the fact that business schools of the future will welcome more and more students from all over the world. This doesn’t only mean new ethnic cultural differences but also new ways of thinking and problem-solving. Another big reason for the change is that the pandemic years have opened up a massive gap that needs to be filled. Modern flexible business education seeks to fill that gap by offering a more holistic and interdisciplinary approach.
Business education is definitely a target of many changes. Luckily, the latest trends are looking very promising and educators and students have a lot of positive changes to look forward to. Some of them include an interdisciplinary approach, more sustainability, virtual campuses with online and hybrid learning capabilities, certification stackability, and a completely new culture.
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