Current Trends And Future Considerations Of Higher Education In Business

Abstract

Graduate programs in business, while still highly regarded, are under increased scrutiny by both business academics and the corporate world. There is growing evidence that graduate business programs are not responsive to the needs of the business community. The complexity and global nature of business today requires that schools must provide their graduates with not only traditional managerial skills, but also skills relating to the interpersonal and conceptual. These essential skills include the ability to team build, to effectively communicate ideas, and to embrace cultural diversity. To remain relevant and viable, business schools must assess not only their teaching, but also the content of their research. Their focus should be on establishing criteria of excellence that benefits not the business school or faculty, but rather those that hire their graduates. The purpose of this paper is to examine some of the basic assumptions of graduate business education today, and provide recommendations for enhancing its relevance in today’s complex business environment. Perspectives that influence these trends are analyzed and include the changing mission of graduate programs in business as well as the debate over specialization versus integration of graduate business courses.