Media Release
Dubai, Mar 15: The increasing globalization of business and complexity of international business operations has brought major changes in the way Business Schools impart management education.
In response to the daunting challenges, innovative Business Schools are gradually progressing away from the still largely prevailing traditional models and foraying into new territories.
Worldwide, Business Schools are responding to the new challenges in different ways. But beyond the diversity of policies, some commonalities can be found.
Prof Farhad Rad - Serecht, director, IMT Dubai
It is broadly acknowledged that management education can no longer be confined to the boundaries of a classroom and even a campus. Traditional classroom delivery modes-including the sacrosanct case study methodology- can no longer prepare the students for the requirements of industry. New approaches are needed with a focus on real world assignments.
As a result, some Business Schools are revisiting their learning practices and trying to achieve the right balance between theoretical knowledge and practical know-how. Companies are increasingly looking for graduates with the right set of skills and not just academic knowledge. The ability to apply to the work place the knowledge learned in the classroom has become of foremost importance and to achieve this goal curriculums increasingly incorporate experiential learning opportunities such as internships, company projects, field work and externships. The aim is to improve student’s preparation to the real business world and as a result increase their employability.
At IMT, Dubai, experiential learning is at the center of the learning philosophy and all programs are designed to deliver not only pure academic knowledge but also the practical experience and the skills required in a workplace. Our programs maintain the right balance between knowledge and skills through internships, company projects and other opportunities through which students get exposure to contemporary practices and trends in business.
A second major concern has been the need to increase the international experience and exposure of students throughout their educational journey. Cross – cultural exposure- both academically and practically- has become during the last decade a strategic priority for many business schools.
In an increasingly global world, the ability to understand and cope with different business cultures and practices and to be able to operate in various markets is key to employability. As a result, business schools are integrating in the curriculum student’s exchange program, study abroad opportunities, etc. Innovative Business Schools have set-up multiple international campuses or partnered with foreign institutions to increase cross- cultural opportunities for their students. Worldwide, we are witnessing an increasing mobility of the student population both of undergraduate and post graduate levels.
IMT Dubai has strategic partnerships with 22 Universities in Europe and USA, offering a unique opportunity to the students at the graduate and undergraduate levels. Students have the choice to apply for a double degree program spanning over a period of a year or an exchange program for a chance to spend a semester abroad.
Major changes have also occurred in how business programs and curriculums are structured particularly at graduate level.
Traditionally, MBA programs have been structured around three main blocks of learning i.e., core courses, functional areas and electives. This approach imparts predominantly functional skills and knowledge to the students. However with the growing complexity of both markets and companies’ operations, the necessity to cope with change and uncertainty, the requirements of job markets, the “functional” approach is no longer considered as properly preparing students for a lifelong career development.
Innovative Business Schools are also adopting a more integrated approach to management education, breaking down barriers between functional areas and moving towards a more holistic perspective. At the same time blended learning approaches are being implemented, combining traditional classroom teaching with field assignments and intensive use of educational technologies.
With the changing landscape, Business Schools will have to reconfigure their programs to address the challenges of internationalization of curriculum and students, alignment of content with industry needs and the development of interpersonal, multi -disciplinary skills.