EVALUATION OF GROWTH, TRENDS AND CHALLENGES OF

GLOBAL MANAGEMENT EDUCATION

GLOBAL MANAGEMENT EDUCATION

Sowmya BK06/02/2011

Growth & Trends – In Emerging Economies

Source: 1- UNESCO Report – 2006 , 2- Quality in Business Education: A Study of the Indian Context

In India: Popularity of management education grew rapidly as India liberalized in 1991

Around the globe: Between 1991 and 2004, the number of tertiary students more than tripled in Sub-Saharan Africa, Middle East and more than doubled in all regions of East Asia and Latin America. The enrollment grew 94.1% to its 2004 figure of 132 million 1

10 million businesses in China, including 284,000 state-owned enterprises and 300,000 joint venture or foreign-invested firms, concludes that the demand for MBAs would reach 37,400 annually

Shift in Primary Product Offering by Business School 2

Change in the view was the education shift from Commerce education to Management education to Quality Education

Implication of Global Management Education

Source: Educational Research and Review Vol. 2 (12), pp. 325-331, December 2007

A Research adopted where, a total of 946 courses were reviewed in 8 leading international business schools. The following business schools were included

in the research: 1. Kellogg School of Management, USA2. Wharton School of the University of Pennsylvania, USA3. Stanford University, USA4. Sloan School of Management, MIT, USA5. Yale School of Management, USA6. London Business School, UK7. Indian Institute of Management, India8. Lahore University of Management Sciences, Pakistan

Total courses offered in selected business schools

Does the global management education imparting business knowledge alone?

Implication of Global Management Education

Source: Educational Research and Review Vol. 2 (12), pp. 325-331, December 2007

Implication of Global Management Education – Current Scenario

LBS promise to provide their student with enhanced business performance, World-class faculty insight and global classroom perspective by imparting quality in education

Programs at LBS have main focus at the following course offered, 1. General Management2. Finance3. Human Resources 4. Leadership 5. Marketing 6. Strategy

Challenges in Global Management Education

Quality AssuranceUniversal yardsticks for measuring quality in business education – 1. Quality of students including the admission process,2. Pedagogy3. Placement 4. Faculty development and 5. Infrastructure

Sustaining Scholarship

Balancing Global Aspirations and Local Needs

Aligning with the Future Needs of Organizations

Recommendations to bring the change

Advocate for quality assurance globally and locally Business schools must meet the challenge to deliver management education and knowledge that is relevant in

both global and local settings.

Invest in mechanisms to engage business and government leaders in envisioning future organizational and societal needs Develop industry-level dialogues regarding the future needs and expectations of organizations and societies

Create an international clearinghouse for data and information related to business schools Repository is to provide structure to macro-level information, support efforts to track trends, identify emerging

issues and challenges, and advance management education Organizations of business schools collaborate to collect and maintain comparable school-level data about

mission, programs, faculty, and students

Facilitate and encourage investments in doctoral degree education Promising areas for doctoral education development are global collaboration and program innovation. Quality will suffer otherwise, as will the ability of business schools to advance management theory and practice

through research

Facilitate multilateral collaboration among business schools To facilitate international collaboration among business schools by collectively providing market research and

information about effective models for global partnerships, and by connecting potential collaborators who have similar interests

Combined, AACSB and EFMD’s EQUIS have accredited business schools in only 41 countries

Appendix

Source: Financial Times - 2010

Global MBA Rankings 2010

The 12 pillars of competitiveness

Source: The Global Competitiveness Report 2010-2011 © 2010 World Economic Forum

Engaging the Global Management Education Community

Associations and business school networks, whether they have a global, regional, or country specific mission, are important players in the global management education community.

Some of the global accrediting organizations are Association to Advance Collegiate Schools of Business (AACSB) European Foundation for Management Development (EFMD), Association of African Business Schools (AABS), Association of Asia Pacific Business Schools (AAPBS), Association of Indian Management Schools (AIMS), Association of Management Development Institutions in South Asia (AMDISA), Australian Business Deans Council (ABDC), Canadian Federation of Business School Deans (CFBSD), Central and East European Management Development Association (CEEMAN), Latin American Council of Management Schools (CLADEA), and Russian Association of Business Education (RABE)

There is a crucial need to collaborate and better understand how global issues and challenges are differentially experienced by schools in their region

References

The Global Competitiveness Report 2010-2011 © 2010 World Economic Forum Faisal Manzoor Arain1* and Syed Awais Ahmad Tipu2 – ‘Emerging trends in

management education in international business schools’ - Educational Research and Review Vol. 2 (12), pp. 325-331, December 2007

Arindam Banerjee Lecturer, United Institute of Management, Allahabad- ‘Impact of Globalization on Business and Management Education’, January 8, 2009

B.Bowonder, S L Rao, ‘Management Education in India, its evolution and some contemporary issues’

Elise S. Brezis, ‘Globalization and the Emergence of a Transnational Oligarchy‘ 1.Vipin Gupta, Grand Valley State University, Grand Rapids, USA, 2. Kamala

Gollakota, University of South Dakota, Vermilion, USA, 3. Ancheri Sreekumar, DC School of Management and Technology, Kerala, India - ‘Quality in Business Education: A Study of the Indian Context’, January 2010

Global Management Education report - www.gfme.org Financial Times Ltd 2010 - www.ft.com/businesseducation/mba Financial Times Ranking 2010

http://rankings.ft.com/businessschoolrankings/rankings London Business School - http://www.london.edu/index.html Business Journal - http://www.iveybusinessjournal.com/links/ Economic News & reports - www.economist.com Academic Journals - http://www.academicjournals.org/ERR

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