Business Education Faces a Challenging and Disruptive Future, finds Global Research

Carrington Crisp has carried out a report ‘See the Future’, backed up by ACCA (Association of Chartered Certified Accountants) and EFMD (European Foundation for Management Development), containing the point of views of chairman, CEO’s and Deans of business schools from over 63 countries.

According to ‘See the Future’ business coaching providers encounters four prime challenges namely cost, market competition ,staff issues and technology. Education providers are compelled to introduce multidisciplinary approach in their curriculum to meet today’s corporate business and students requirements. The advancement in technology has increased the importance of lifestyle learning over lifelong education.

Main clauses of the report are:

90% of the business school appellant believes that the progress of business models for business education depends on technology. They think that flexible degrees, if offered by business school, can help work and study to go hand in hand.

70% of them think that a new wave in technology will bring forth fresh aspirants to the education market.

75 per cent of them want new techniques for the younger and older respondents who have restricted knowledge regarding higher studies.

In 5 years time, online courses and training shall be provided as only half of them are aware of MOOCs

Employers are looking for speedy, inexpensive and effective training system. While online coaching preferred, as this cuts down accommodation and travelling cost, executive education will remain one to one.

The report writer Andrew Crisp is of the view that Dean lacking determination to progress puts their students’ future on risk.

Alen Hatfield believes that students should pursue learning with work as professional degree is needed while hiring new aspirants.

ACCA being a professional body has pledged to provide valuable and significant future of business education.

DG and CEO at EMFD, Eric Cornuel concludes that there has been a radical growth in business education over years. Key factors for the transformation are emerging demand of the seekers and motive behind the change. To conclude, amalgamating business schools with other departments, faculties and professionals from other universities makes sure that the students achieve a rounded education.