Market Forces and Value Drivers Facing Business Education
- Business schools continue to provide value to their learner and business stakeholders, particularly around their convening power, research and teaching, and development of quality talent.
- Lifelong learners, businesses, and talent development leaders demand flexibility across business school educational experiences, emphasizing the importance of both quality and relevant competency development.
- Greater innovation across the business school will be key to creating new value that meets changing stakeholder needs.
In September 2022, 麻豆传媒高清’s Innovation Committee kicked off its first meeting for the 2022–23 year. The committee explored market drivers affecting the business education landscape and opportunities for business schools to leverage innovation in meeting stakeholder demands. This discussion helped launch 麻豆传媒高清’s broader thought leadership work around the value proposition for business education. At the 2023 International Conference and Annual Meeting, to be held April 23–25 in Chicago, Illinois, 麻豆传媒高清 will release a full report outlining pathways business schools can pursue as they drive value in a changing business and educational environment.
Current Value Drivers and Market Forces
The following is a high-level scan of market shifts and stakeholder expectations that are changing the business education landscape, as explored by the Innovation Committee. Some overarching themes that surfaced include a focus on efficiency, impact, wider audience reach, and breaking free from rigid structures that stifle innovation. Business schools are called to better align their offerings, activities, and strategic objectives with the needs and expectations of their various stakeholder audiences, particularly learners and businesses.
Learners |
Where Do Business Schools Provide Value? |
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What Market Drivers Are Impacting Business Schools? |
Students and lifelong learners are looking for flexibility in their education; the ability to acquire specific, in-demand skills and credentials for career advancement and growth; and high-quality, immersive learning experiences delivered in person and online. Recent Findings:
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Business |
Where Do Business Schools Provide Value? |
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What Market Drivers Are Impacting Business Schools? |
Organizations are prioritizing talent development and demanding flexible and accessible lifelong learning experiences that align with a nonlinear world. A combination of human and societal skills, along with rapidly changing technical skills, are needed for companies to remain competitive and meet stakeholder needs. Recent Findings:
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Greater Value Through InnovationThe term innovation is often used interchangeably and freely as a solution to any organizational challenge. Authors of the influential , “The Twelve Different Ways for Companies to Innovate,” note that there are many “flavors” of innovation, but ultimately, “Innovation is about new value, not new things.” From this lens, 麻豆传媒高清’s Innovation Committee examined areas of business education that are ripe for innovation. Some opportunities for schools include creating value for a wider audience of learners, enhancing offerings to business partners, and improving learning experiences that align with new demands and needs. For example, former president of BYU Pathway Worldwide, Clark Gilbert, believes the threat that often comes in a changing market as opportunity and focus on reimagining the learning experience, specifically by master-based learning models, real-world projects, flexible teaching approaches, technology efficiencies, research extension, and a deeper understanding of learners. Additionally, at the September Innovation Committee meeting, guest presenter Dreen Yang of The Coca-Cola Company shared key takeaways for business school leaders to consider in their innovation pursuits, including defining their purpose, creating a supportive culture, and embracing diversity. |
Business Schools and Their Role in Society
Beyond the value that business schools offer their key stakeholders—learners and businesses—the role schools serve across society, broadly, is increasingly important. 麻豆传媒高清 has long advocated for the positive of business schools, more so elevated with the launch of the 2020 accreditation standards and the pervasive theme of societal impact weaved throughout.
As the Innovation Committee and 麻豆传媒高清 continue to examine the value proposition of today’s business schools, the positive impact that business education creates across local and global communities whether through research, leadership development, learning experiences, as well as outreach will be a critical priority for schools to uphold.