CHALLENGES AND OPPORTUNITIES IN BUSINESS HIGHER EDUCATION

Abstract

ABSTRACT The catchphrase “Today’s Challenges Lead to Tomorrow’s Opportunities” succinctly describes the environment currently relevant to the area of business higher education. The future of business higher education in the 21st Century will involve dramatic changes that will lead to a vastly different business education environment than we have today. By recognizing opportunities and preparing strategies to embrace these changes, business schools will be better able to prepare for what lies ahead. There will be new opportunities to try strategic initiatives that could not have been previously been attempted. Business schools must look for new alternatives and utilize a proactive approach for the “new non-normal” environment that is the future of business education. This paper will examine the major challenges and opportunities in business education. A discussion will also be provided on possible solutions to the problems facing business schools. It is important to realize that, the challenges and opportunities facing business higher education include technical as well as nontechnical influences. Recent technological advancements also offer both tremendous challenges and significant opportunities for business school administrators as they guide their institutions into the future. Keywords Business Higher Education, Challenges in Business, Strategic Initiatives, Business Opportunities