A new report into the future of business education suggests increasing demand from students and employers for a more sustainable, international and technological future.
The See the Future survey of more than 5,000 respondents from 137 different nationalities was conducted by CarringtonCrisp, with support from the Association of Business Schools (ABS and the European Foundation for Management Development (EFMD). Respondents were prospective students, current students, alumni and employers.
Some of the key findings of the report include:
- More students value a business education to get a more fulfilling job rather than a more highly paid job;
- Over 70% agree that business models need to change to better engage with society
- 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’.
- 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’
- 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’.
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,” the report said.
