AMBA's Ambition magazine: Issue 40, February 2021

Ambition is AMBA’s thought leadership magazine, offering regular insights into the challenges and trends that matter most in global management education

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Who holds the responsibility for graduates’ continuing education?

AMBA Application and Enrolment Report : key findings

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A FEBRUARY 2021 Contents News and research 08 Network news Football, the legacy of

MBAs' continuing quest for knowledge Lifelong learning research from AMBA & BGA

3 3

colonialism, application data, and more, in updates from across the AMBA network

12 New application and enrolment research

The new AMBA Application and Enrolment Report reveals the growth of AMBA-accredited MBA programmes ahead of 2020’s upheaval

Graduates’ continuing education Anáhuac México

20 Lifelong learning

AMBA & BGA research on how graduates seek to continue their education journey beyond the MBA

on where the responsibility lies, and why

Features 26 Lifelong learning as a natural extension

Illuminating MBA programmes’ progress Key findings from the AMBA Application and Enrolment Report 2020

The Director of the Anáhuac MBA and an alumna of the programme on where the responsibility lies for graduates’ continuing education

30 Boosting employability Key takeaways from

AMBA & BGA’s roundtable on ensuring students are job-ready for today’s digital transformation in business

Events and opinion 04 Editor's letter 07 From the CEO 38 AMBA & BGA Global Conference 2021

Representatives of Alibaba.com and EY among first confirmed speakers for May’s online event

Powering up Expert insights from

Global Conference 2021 Looking ahead to May’s online event, and its options for personalisation

42 Guest column

the AMBA network on boosting students’ employability in the digital age

Should CEOs be political?

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Editorial Editor and Director of Marketing and Communications David Woods-Hale d.woods@ associationofmbas.com @davidpaulwoods Content Editor Tim Banerjee Dhoul t.dhoul@ associationofmbas.com Art Editor Laura Tallon Insight and Communications Executive Ellen Buchan e.buchan@ associationofmbas.com

Confidence despite adversity

In putting together my editor's letter this month, I took a glance at the introduction I wrote back in January 2020 for the edition of AMBITION we published exactly a year ago. At the time, we were preparing for the annual AMBA & BGA Excellence Awards – as we are this year – but I was looking forward to seeing many of you in a glitzy venue in London, as opposed to the (equally glitzy) virtual event we'll be hosting on 29 January 2021. We were also planning for our Global Conference in Budapest, while this year the AMBA & BGA team is working with film crews, studios and digital networking

the surface disruption and crises afflict the management education community... I wasn't 100% off the mark at the start of a year defined by disruption but, although many of us are living through another period of lockdown across the world, there is much to be grateful for as we move into the Chinese Year of the Metal Ox, on 12 February. Those born in the Year of the Ox are thought to be strong, reliable, fair and conscientious, inspiring confidence in others. They are also calm, patient, methodical and can be trusted. Although they say little, they can be very opinionated. They believe in themselves, but are

Corporate Head of Commercial Relations Max Braithwaite m.braithwaite@associationofmbas.com Commercial Partnerships Manager Emily Wall e.wall@associationofmbas.com HR and Employer Relations Manager Aarti Bhasin Conference Producer Paul Thurston Marketing and Communications Executive Edward Holmes Membership Manager Tariro Masukume Head of IT and Data Management Jack Villanueva Finance and Commercial Director Catherine Walker Chief Executive Officer Andrew Main Wilson Executive Assistant to the CEO Amy Youngs a.youngs@associationofmbas.com Accreditation enquiries accreditation@associationofmbas.com

'The AMBA network rose to the challenges put in front of them'

organisations to give delegates an immersive and valuable online experience during the three days of this year's Global Conference (for more about the event, see page 38). I don't think these virtual experiences are worth any less than physical events – they are simply different and this is the definition of

also stubborn and hate to fail. Now I'm seeing similarities between oxen and business educators. When the pandemic hit, I hoped that, within a year, we would look back on our achievements in the face of adversity, with pride. And – as you'll find out shortly, when we announce the winners of this year's AMBA & BGA Excellence

our 'new normal'. But what struck me, when reading the editor's letter from my pre-Covid-19 self, was how little we knew about what was about to land; and – importantly – how quickly we rallied and worked to innovate. In my February 2020 editor's letter, I wrote: 'According to the Chinese zodiac, 2020 is the Year of the Metal Rat. Those born in this year are believed to be positive and confident on the surface, but deep down they can be troubled by worries – often of their own making.' I came up with a tenuous link between metal rats and Business Schools. While Schools operate with a high degree of confidence in their shared mission of developing the game-changing leadership of today and tomorrow, under

Awards – the AMBA network rose to the challenges put in front of them with determination. The March edition of AMBITION will have details of all the winners and finalists. However, in this edition (on page 20), we outline findings of research into lifelong learning and MBA graduate perceptions, carried out in 2020. Graduates were polled on the difference their MBA has made to them and the top answer (cited by 68%) was ‘I was more confident about myself’, followed by ‘I was better at resolving problems by finding new solutions’ (62%). What more proof do Schools need that they are succeeding at inspiring confidence in a generation of future leaders? David Woods-Hale, Editor, AMBITION

Copyright 2021 by Association of MBAs and Business Graduates Association ISSN 2631-6382 All rights reserved. Material may not be reproduced without the permission of the publisher. While we take care to ensure that editorial is independent, accurate, objective and relevant for our readers, AMBA accepts no responsibility for reader dissatisfaction rising from the content of this publication. The opinions expressed and advice given are the views of individual commentators and do not necessarily represent the views of AMBA. Whenever an article in this publication is placed with the financial support of an advertiser, partner or sponsor, it will be marked as such. AMBA makes every opportunity to credit photographers but we cannot guarantee every published use of an image will have the contributor’s name. If you believe we have omitted a credit for your image, please email the editor.

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CEO'S COLUMN

Business education in a post-Covid-19 world: part one

Andrew Main Wilson shares his thoughts on the impact of Covid-19 on business education as well as what will change – and what will revert 'back to normal’ – in the wake of the pandemic

have always believed that we shouldn't leave changing the world to political and military leaders alone.

The first MBA programmes, created more than 100 years ago, focused on developing future business leaders to build profitable businesses. Today, MBA programmes are far broader in scope, balancing responsible management, inspirational leadership and commercial skills development. The MBA is more of an all-round, ‘21st-century ready’ management qualification. This evolution has helped maintain the global popularity of the MBA, and the degree has proved resilient during economic highs and lows, such as the 2008 financial crisis and the 2020 coronavirus pandemic. When you think of global educational qualifications – outside of medicine and science – the MBA may well be the world's best known education brand name. Covid-19 has presented new obstacles to economies, governments, businesses, and Schools worldwide. This highlights two trends. First, demand for MBAs is countercyclical to the economic climate. The weaker the global economy, the higher market demand grows for high-quality business education. Business executives realise that, in a tough job market, you need to be better educated than your rivals. They want to ensure that they’re going to emerge strongly.

Second, most high-quality Schools transformed quickly from 100% face-to-face on-campus teaching to hybrid teaching, or even 100% online teaching. One of the few benefits arising from the pandemic is the acceleration of digital education transformation. Now, the multi- million-dollar question is what is going to happen when Covid-19 is finished? In my view, much of the digital transformation to blended learning or 100% online learning will be permanent. However, nostalgia for face-to-face human interaction and genuine belief among many deans and students that face-to-face learning is superior and more desirable than online learning, will mean that campuses will experience a strong return to classroom learning. Every organisation needs to consider where they are going to position their products and programmes on a scale between 100% face-to-face learning and 100% digital online learning. At AMBA & BGA, we are ensuring that all our accreditation assessments, services and conferences fit comfortably anywhere along that scale – and I will discuss these ideas in more depth in my column in the next edition of AMBITION magazine.

The world’s business communities can achieve the biggest changes because business funds everything. You can only generate taxes from individuals, or from corporations, if businesses make profits. The business community, particularly over the past five years, has started to realise this and to take on its responsibility for making the world a better place through better business practice. Last month, I was asked to outline my thoughts on the above for a feature in Foreign Policy magazine, and I would like to use my first columns of 2021 to share the ideas discussed in this interview with you. I think the global collective conscience of business leaders recognises the crucial importance of the UN's 17 Sustainable Development Goals (SDGs). The global Business School community has a huge role to play in championing the SDGs and preparing future leaders who are both commercially astute and ethically responsible.

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NEWS & R E S EARCH FROM ACROSS AMBA’S GLOBAL NETWORK An international footballer, the socioeconomic legacy of colonialism, application movement online, and more featured in this edition’s roundup of news and research

from Business Schools in the AMBA network. By Ellen Buchan and Tim Banerjee Dhoul

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SHOULD WE BE USING ROBOTS IN SECRET?

resemble humans was one of two important caveats found to this rule. The problem links to earlier research in which people were found to be less willing to outsource tasks to ‘identifiable’ service providers. Guilt here arises from asking somebody with whom people can empathise to do things that are unpleasant and that they could do themselves. The second caveat to levels of happiness found in the current research is the perception that using some smart products is an indication of laziness. This has greater currency in cultures where ‘busyness’ is a status symbol and the researchers suggest that this could help explain why take up of smart products hasn’t met previous expectations. In March 2020, market prevalence of robotic vacuum cleaners, for example, only stretched to 10% of Americans, according to data from Statista. How, then, can companies ensure they make products that consumers feel good about using? To counter the identified downsides, one of the recommendations

COUNTRY: SWITZERLAND SCHOOL: ST.GALLEN

worldwide. From refrigerators that order in supplies to automated lawnmowers and vacuum cleaners that wile away the hours rolling merrily around gardens and floors, smart products can certainly take chores off their owners' hands. It was duly found that this can have positive effects on consumers’ wellbeing: ‘The use of smart products can make people happier by leaving more time for things that really matter to us,’ said Emanuel de Bellis, who worked on the study at the University of St.Gallen’s Institute of Customer Insight (ICI-HSG), together with researchers attached to HEC Lausanne, Harvard Business School and the Vienna University of Economics and Business Administration. However, the guilt attached to the use of smart products that

If a robot, or ‘smart product’ to use a more accurate term, appears ‘human- like’ by having a human voice or face – and especially when it has been named after real people – consumers feel less comfortable outsourcing tasks to it and can even feel guilty for doing so. Ultimately, such feelings worsen the user experience and dilute the appeal of buying and using a product. Yet, many of the world’s tech giants, such as Samsung and Amazon, are actively trying to design things that mimic humans and their behaviour as far as possible. This quandary stems from a study designed to investigate whether smart products make consumers happier and is based on a survey of 5,000 people

made by these researchers is that companies consider encouraging

consumers to use smart products, and enjoy their time-saving benefits, in secret. / Tim Banerjee Dhoul (TBD)

SOCCER STAR SHOOTING FOR SUCCESS IN BUSINESS

always pursued sport and academics simultaneously, Espinoza was inspired to enrol in an MBM when a teammate from the Mexico women's national squad was studying a master’s in finance, enrolling in 2019 as part of only the second generation (cohort) of the EGADE programme. During the programme, Espinoza was able to take full advantage of the course by participating in a corporate immersion programme at Accenture, while enjoying continuing success in her sporting career: ‘Now that I have finished my studies, I feel that this was the best decision I could have made. The MBM changed me professionally and personally. It has given me a different perspective of business and more tools to have a greater impact on the people around me and on the world,’ Espinoza reflected. The Mexican international defender played for both Arizona Western College and Oregon State University in the US while studying business administration as an undergraduate. She was called up to the Mexico women’s national team at the age of just 16 before signing, in 2017, as a professional for Levante in Spain and then joining Mexico’s Tigres UNAL in 2018. / Ellen Buchan (EB)

COUNTRY: MEXICO SCHOOL: EGADE BUSINESS SCHOOL

For most people, graduating from a master’s in business management (MBM) programme would be the primary achievement of their year, but not for Greta Espinoza who also achieved success in her other passion – football (soccer). In the same week as her graduation, Espinoza also competed in the Grand Final of the Women’s Liga MX, the highest division of women’s football in Mexico. Espinoza studied her master’s at the Monterrey site of EGADE Business School. While she has

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CAPTURING A BUSINESS SCHOOL’ S ESSENCE

COUNTRY: US SCHOOL: HULT INTERNATIONAL BUSINESS SCHOOL

Music has long been used as a way to bring people together, whether it’s a stirring national anthem or a catchy song that makes a group of people nod their heads in unison. In a time of social isolation and travel bans, Hult International Business School has embraced the bonding experience of music to bring its stakeholders together. In collaboration with London-based artist, COTTON, it has released a song – entitled What About You? – that aims to capture the essence of the School, using both its melody and lyrics. COTTON used a diverse array of instruments, such as the koto and the tabla, as well as a mix of different musical styles, from jazz to electronic beats, in order to reflect the diversity of cultures within the student body at Hult International Business School and the upbeat energy of the institution. The song’s lyrics are intended to reflect the drive and ambition of Hult students, and their determination to be the best they can be. The title of the song, meanwhile, aims to encourage the listener to look inside and ask themselves how they can challenge themselves further, and how they can take on this Hult spirit. The lyrics also point to several important aspects of Business School life. In the line: ‘Look out for the leaders on the boulevard, watch out for the readers in the courtyard’, the word ‘leaders’ clearly references the fact that Business Schools are creating the future leaders of tomorrow’s business world, while the latter half of the line references the academic commitment needed for success. The song also mentions ‘rebels’ and the ‘avant garde’, perhaps referencing the different take on business needed to succeed in entrepreneurship and, indeed, Hult’s aim of being a new type of Business School, with added relevance in a changing business world? / EB

COLONIALISM’S LEGACY

COUNTRY: SWEDEN SCHOOL: LUND UNIVERSITY SCHOOL OF ECONOMICS AND MANAGEMENT

Historical data from the Dutch East India Company is to be used to unearth new insights into the economic and social development of South Africa. A new research project, led by Erik Green, Associate Professor of Economic History at Lund University School of Economics and Management, will also contribute to what we know about institutions and the legacy of colonialism. The project will look at three unique databases: the Cape of Good Hope Panel dataset, a registry of South African Families and the Slave Emancipation dataset, to study what is now South Africa and its population (settlers, slaves and indigenous population) at the individual level over a period of more than 150 years, from the establishment of the Cape Colony in 1652 until 1840. The idea is that this will shed light on how a colonial economy and its institutions develop gradually over time and are affected by – and affect – people’s behaviour and living conditions. ‘Currently, most people assume that South African society is unequal because of colonialism. But that is too simplistic. We want to know what factors gave rise to this unequal distribution and why it persisted for so long,’ said Green. Also involved in the project is Stellenbosch University Professor of Economics and History, Johan Fourie: ‘It was not Holland as a nation that founded the colony, but the Dutch East India Company. In other words, it was run as an enterprise. Because of that, they had better incentives to produce more detailed reports. That gives us detailed insight into the workings of a colonial economy and society and allows us to test our general theories of development against real-world evidence.’ ‘There is a preconception about not being able to study Africa because historical data is lacking in many cases. Here we have an exception, where we can probably build one of the world’s most detailed databases,’ Green added, in a news release for Lund University. / TBD

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A MOVEMENT OR A MOMENT?

COUNTRY: UK SCHOOL: THE OPEN UNIVERSITY BUSINESS SCHOOL Can Business Schools help create more racially diverse businesses? This was the name of a recent webinar hosted by the UK’s Open University Business School (OUBS) and led by Senior Lecturer in Management, Terry O'Sullivan, and Claire Maguire, Lecturer and Student Experience Manager. The webinar called on a range of guests to express their views on the subject, including: Rachel Blackburn, an alumna of the School’s MBA programme and the Founder of a consultancy firm; Habib Naqvi, who offered a perspective from the UK’s largest employer – the National Health Service (NHS) – as Director for the NHS Race and Health Observatory; and Devendra Kodwani, Executive Dean of the Open University Business School and Law School. Blackburn commented that we cannot begin to bring about positive change in organisations unless we get out of our comfort zones, in particular having conversations about race and diversity in the workplace. She also warned that while important conversations around these topics have taken place, there should also be a focus on action. Suggesting what Business Schools could do, the OUBS MBA alumna said that while there should be courses on leadership pertaining to inclusion and diversity, this content must also be referenced in all modules. Plus, Schools should look to do more to develop emotional intelligence on issues of race and help ensure that work in this area becomes a movement, rather than simply a static moment in time. Kodwani highlighted the fact that to make genuine progress, the right tone has to be set at the top of an organisation as well as being implemented from the bottom up. He pointed to the OUBS’s appointment of a dedicated Dean for Equality, Diversity and Inclusion to better address issues in this area within the organisation in a systematic way. Naqvi, meanwhile, spoke about the need for demonstrable leadership which focuses on compassionate leadership and cultures within organisations, at all levels. He also cited a need for data-driven accountability for decisions made in organisations. In the NHS Director’s view, racial equality needs to be at the heart of regulation, and leaders need to lead for the entire workforce, not just a segment of it. Naqvi also commented that the onus for pursuing this agenda shouldn’t fall solely to those most affected by racial inequality. Instead, everybody must stand up and take the lead on this societal problem. / EB

EXECUTIVE EDUCATION POISED TO GAIN TRACTION ONLINE?

COUNTRY: NORWAY SCHOOL: BI NORWEGIAN BUSINESS SCHOOL

Executive education has taken a marked hit under the restrictions on travel and face-to-face meetings imposed by the Covid-19 pandemic, with revenue falling by around a third among 99 Business School respondents to a survey of members conducted by the International Consortium for Executive Education (UNICON). However, hope springs from a notable uptick in the use of synchronous online learning. In the four years prior to the pandemic, the proportion of Schools using this form of learning had crept up marginally from 71 to 74%. In the year 2019/20, that figure jumped to 98%. ‘With our corporate clients around the world unwilling or unable to travel, we had to re-think how best to meet their individual and organisational development goals,’ said Lise Hammergren, Chair at UNICON. Hammergren is also Executive Vice President at BI Norwegian Business School and related figures from the School point to the potential of a switch in format. BI has reported a total increase of more than 40% in the number of people applying to study online with the School in 2020, through new learning modules and the digital conversion of programmes, and a record high number of executive students within finance and economics programmes. Most notably, there was a 15% year-on- year rise in applicants for BI’s flexible and digital executive courses in the autumn of 2020, and almost 3,000 students enrolled on new short online courses. Facilitating some of this transition has been a government grant, given to BI and its peers, to create courses for employees who have been affected by the pandemic. In addition, the School says it has called on its corporate partners to offer digital courses, webinars, educational podcasts and videos that allow participants to keep up to speed with hot topics, such as digitalisation and sustainability, and earn credits at the same time. Jan Ketil Arnulf, Dean Executive at BI, says the School feels ‘inspired to continue to find innovative ways to bring the knowledge and expertise of our faculty to even more people in the months and years ahead.’ / TBD

Share your latest updates by emailing AMBA & BGA’s Content Editor, Tim Banerjee Dhoul, at t.dhoul@associationofmbas.com

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In looking back to 2019, the latest AMBA Application and Enrolment Report offers a revealing window on the growth of AMBA-accredited MBA programmes ahead of 2020’s turbulence. Ellen Buchan picks out the key findings

13 13 13

THE PROGRESS OF HIGH-QUALITY MANAGEMENT EDUCATION

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s a reader of AMBITION , you will almost certainly be aware that AMBA accreditation is the global standard for all MBA, DBA and master’s in management degrees. Only around 2% of the world’s Business

demand for MBA programmes across the AMBA network grew between 2018 and 2019. The region with the most significant increase in applications was Oceania, with an increase in applications of 54% per School and 41% per programme. The second- largest increase in applications, per programme, was in Africa, where applications rose by 35%. 2. Enrolments The average number of enrolments at AMBA-accredited MBA programmes globally was similar between 2018 and 2019, with no change at a School or programme level. Regionally, however, there was movement. Africa had the largest increase in enrolments per programme with an increase of 22% while the UK had the largest increase in enrolments, at 16%, at the School level. The global picture of increased applications and a stable level of enrolments suggests a potential increase in competition for places at elite

Schools, spread across 75 countries, hold this mark of quality for their portfolio of postgraduate management

education programmes. The AMBA network of accredited Business Schools is therefore an illuminating resource for insights into the progress of providers of high-quality management education and the health of the sector as a whole. With this in mind, AMBA’s flagship annual report, the AMBA Application and Enrolment Report , endeavours to track the number of applications and enrolments to AMBA- accredited programmes, and other vital programme statistics. Focusing solely on MBA programmes – which so often

provide an institution’s flagship programme – this year’s report is the organisation’s largest ever and covers a total of 897 programmes worldwide. In so doing, its data spans 134,271 applications and 47,340 enrolments – indicative of the huge volume of individuals seeking to maximise their career potential by enrolling in a world-leading business education programme. This year’s research intends to provide two distinct pieces of analysis, offering different analytical perspectives: 1. The first provides a snapshot of the composition of 233 AMBA-accredited Schools that ran an MBA in 2019 and which participated in the study. This explores their application, enrolment and programme delivery trends.

Business Schools, with conversion rates also dropping from 38% in 2018 to 35% in 2019. However, it is also possible that individual candidates have been applying to a greater number of programmes to boost their chances of getting into a reputable MBA programme. 3. Gender diversity Globally, there was an increase in the proportion of women applying to AMBA-accredited MBA programmes

‘Globally, 40% of those applying and 38% of those enrolling onto MBA programmes in 2019 were women’

between 2018 and 2019, by two percentage points. Regionally, the largest proportional increase in female applications was by three percentage points in Oceania. There was only one region where the proportion of female applicants decreased between 2018 and 2019 – in Asia and the Middle East there was a decrease of three percentage points in the proportion of female applicants. In terms of enrolments, there was a one percentage point increase in female representation globally, from 2018 to 2019. The largest increase, by four percentage points, was in China (including Hong Kong, China), while there were increases of three percentage points from 2018 in Oceania and India. The conversion rate dropped for both female and male applicants, by five percentage points (to 34%) and four percentage points (to 37%) respectively. In this way, the gap in conversation rates applicable to men and women widened by a single percentage point.

2. The second offers trends of 217 Business Schools which participated both in the current study and its equivalent last year. This analysis therefore offers a comparative year-on-year analysis of 2019 and 2018 cohorts for a large sample of AMBA-accredited Schools. The findings provide an essential snapshot of the market ahead of the start of a year characterised by restrictions and limitations brought on by the Covid-19 pandemic and a year for which figures for any industry will need to be recorded with a lengthy asterisk. Section A: year-on-year comparisons between 217 AMBA-accredited Business Schools that provided their application and enrolment data for both 2018 and 2019 1. Applications Globally, there was an increase of 7% in applications both per School and per individual programme indicating that

4. International applications and enrolments On a global scale, the share of applications from

international prospects was down between 2018 and 2019, by three percentage points. However, the equivalent volume of enrolments remained consistent. Regions reporting rises in their share of applications from overseas candidates were Oceania, with a rise of 16

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CHANGE IN AVERAGE NUMBER OF APPLICATIONS PER SCHOOL AND PROGRAMME BY REGION, 2018–2019 (% CHANGE PER SCHOOL AND PROGRAMME IN BRACKETS) 2,00 0

2018 per School 2019 per School

1,460 1,766 (+21)

2018 per programme 2019 per programme

1,50 0

(-4)

1,228 1,178

1,00 0

552 609 (+10)

540 576 (+7)

523 504 (-4)

503 490 (-3)

427 505 (+18)

334 307 (-8)

318 368 (+16)

50 0

307 245 (-20)

135 208 (+54)

179 181 (+1)

277 (-9)

144 154 (+7)

105 113 (+7)

115 118 (-3)

98 95 (-4)

89 80 (+12)

252

97 72 (+35)

37 52 (+41)

CHANGE IN AVERAGE ENROLMENTS PER SCHOOL AND PROGRAMME BY REGION, 2018–2019 (% CHANGE PER SCHOOL AND PROGRAMME IN BRACKETS) 600

2018 per School 2019 per School

469 430 (-8)

50 0

2018 per programme 2019 per programme

400

(0)

300 299

300

232 236 (+2)

183 213 (+16)

(0)

203 202

(+15)

148 170

153 148 (-3)

200

137 140 (+2)

137 123 (-10)

(+14)

80 73 (-9)

71 81

(-17)

(+2)

75 62

73 70 (-4)

54 54 (0)

100

(+12)

54 55

(+13)

37 41

45 46 (+1)

35 39

39 32 (+22)

19 20

(+4)

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CHANGE IN PROPORTION OF FEMALE APPLICATIONS AND ENROLMENTS (PERCENTAGE POINT CHANGE FROM 2018 IN BRACKETS)

¾ % of women applying, 2019 ¾ % of women enrolling, 2019

(+1) (+4)

(+3) 46

(+1) 43

(+3) 42

(-1) 41

(+2) 41

(-3) (-1)

(+2) 40

(0)

(+1) 38

(+1) 37

(-2) 36

(+1) 34

(0)

(-1) 33

(+3) 19

(+3) 18

FEMALE REPRESENTATION IN THE MBA The proportion of women applying for, and enrolling in, MBA programmes continues to grow .

The research found that the proportion of women applying for AMBA-accredited MBA programmes rose by two percentage points between 2018 and 2019, and the proportion of women enrolling in these programmes increased by one percentage point in the same timeframe. Globally, 40% of those applying and 38% of those enrolling onto MBA programmes in 2019 were women. Between 2017 and 2018, female MBA applications and enrolments increased by one and two percentage points, respectively, so that 39% of those applying and 38% of those enrolling on to MBA programmes in 2018 were women. Between 2018 and 2019, applications from women increased by a further two percentage points and, globally, 40% of those applying and 38% of those enrolling onto MBA programmes were women. The figures reveal that, despite there being continued gender inequality in terms of MBA applications and enrolments, the proportion of women applying for, and enrolling onto, AMBA- accredited programmes has increased by approximately seven percentage points and six percentage points, respectively, in the past seven years.

In 2019, the global MBA application-to-enrolment conversion rate for women was 34%. This is lower than the conversion rate for men, which was 37%. In 2018, the global application-to-enrolment conversion rate was two percentage points higher for men than women (40% vs. 38%). This means that women who apply for MBA programmes were slightly less likely to enrol than their male counterparts and that this gap has widened slightly. Even so, the findings show that the representation of women in MBA applications and cohorts continues to rise, following on from similar progress in recent years. This demonstrates that AMBA- accredited Schools are continuing to focus on more diverse and gender-balanced intakes. We should, however, remain mindful that women are still in the minority and that the good work that has led to these positive steps should not make way for any complacency in the goal of reaching gender parity. When looking for solutions to improve gender diversity it is important to note the regional variations. This provides the clearest indication of where in the world the need to improve female participation really lies. In contrast, there are also some examples of regions in which the gender-balance is much better.

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percentage points, and Asia and the Middle East, with a more moderate rise of five percentage points. Among AMBA-accredited Business Schools in the UK, and in North America and the Caribbean, international enrolments were down by three percentage points in 2019, although it’s worth noting that these are the only two regions in the world in which there are more international students than domestic students in a cohort, on average. Globally, conversion rates for domestic students dropped from 44% in 2018 to 38% in 2019. Conversion rates for international students, on the other hand, rose by a single percentage point, from 30% in 2018 to 31% in 2019. 5. Programme delivery The global divide of programme formats remained largely stable between 2018 and 2019 among Business Schools in the like-for-like analysis. Globally, there was a three- percentage point increase in the propensity of part-

as a whole between 2018 and 2019. Average enrolments per programme remained consistent and there was a one-percentage point change in the average number of enrolments per School, compared to 2018. At a School level, the average number of applications rose from 548 in 2018 to 576 in 2019, an increase of 5%. Average enrolments decreased slightly from 205 in 2018 to 203 in 2019. At a programme level, the average number of applications increased from 145 in 2018 to 153 in 2019. Meanwhile, the average number of enrolments per programme remained consistent at 54. The highest number of applications per School and per programme was in China (including Hong Kong, China) with 1,694 applications per School and 475 applications per programme, on average. This was followed by North America and the Caribbean which had the second-highest number of applications

time programmes (those that allow students to continue to work while they are completing the programme). Schools in Oceania had the largest move to part-time programmes, with a 13-percentage point rise from 34% in 2018 to 47% in 2019. This was largely at the expense of full-time courses, for which the share decreased by nine percentage points. Among Business Schools in Africa, there was a 15-percentage point increase in modular programmes’ share of all programmes on offer. Modular learning is defined here as a format of learning where lessons are not taught every week but in short blocks of intense teaching, for example over certain weekends throughout the year.

per School, at an average of 1,178 in 2019. India had the second-highest number of applications per programme with, on average, 254 applicants per programme.

‘30% of those applying to AMBA- accredited MBA programmes in 2019 were classified as international applicants’

Proportionally, the share of programme applications and enrolments generally matched the figures for where the Business School had its headquarters. However, the figures for the UK show

higher levels of applications and enrolments for where Schools are

based rather than where programmes were taught, suggesting that UK Business Schools are likely to have numerous programmes which are taught overseas.

2. Gender diversity Globally, 40% of applicants and 38% of those enrolled were female. China (including Hong Kong, China) was the only region to report an equal proportion of men and women on their courses, making this the world’s most gender-balanced region. Oceania was the next most gender-balanced region, with 45% of enrolees being female. India had the most unequal cohorts for gender – only 19% of both applicants and enrolees in 2019 were female. The conversion rate for women, globally, was 34%. This is lower than the conversion rate for men, which was 37% in 2019. This means that women who apply for MBA programmes were slightly less likely to become enrolled students than their male counterparts. However, there were regions where the conversion rates were equal for men and women, such as China (including Hong Kong, China), Europe (excluding UK) and India. Indeed, despite India’s low proportion of female enrolees, its conversion rates show that women were just as likely to progress from application to enrolment as their male counterparts. The regions with the biggest gaps in conversion rates between men and women were Oceania

In terms of changes in modes of programme delivery and teaching from 2018, there was little year-on-year movement when looking at the global picture, but some individual regions experienced a degree of change. Programmes in Oceania show the most change year on year, with blended programmes dipping 10 percentage points, mostly in favour of online programmes, which rose by eight percentage points. Results from North America and the Caribbean also presented some change in teaching modes, with classroom learning rising from 70% of programmes in 2018 to 79% of programmes in 2019, at the expense of blended programmes. Section B: analysis of 233 AMBA-accredited Business Schools that provided their MBA programme application and enrolment data for 2019 1. Applications and enrolments There was a slight increase in the number of applications, both per individual programme and per Business School

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AVERAGE ENROLMENTS PER BUSINESS SCHOOL AND PROGRAMME IN EACH REGION (2019)

AVERAGE APPLICATIONS PER BUSINESS SCHOOL AND PROGRAMME IN EACH REGION (2019)

205 203

576

GLOBAL

153

303

125

AFRICA

134 368

170

ASIA AND MIDDLE EAST (EXCLUDING CHINA AND INDIA)

423

1,694

CHINA (INCLUDING HONG KONG, CHINA)

119

475

296

143

EUROPE (EXCLUDING UK)

508

142

INDIA

254

242

497

LATIN AMERICA

115

1,178

299

NORTH AMERICA AND CARIBBEAN

245

218

OCEANIA

591

207

104

300

600

900 1,200 1,500

2,000

100

200

300

400

500

Per School

Per programme

Per School

Per programme

and Africa. In Africa, the conversion rate for women was four percentage points lower than that of men. However, the reverse was true in Oceania, with the conversion rate for men coming out seven percentage points lower than that of women. 3. International applications Globally, 30% of those applying to AMBA-accredited Business Schools in 2019 were defined as international applicants and 25% of those enrolled were classified as international students. The highest average proportion of international applications was among Business Schools in the UK (77%), followed by Schools in North America and the Caribbean (66%). These two regions were also the only regions in which more than half of reported enrolments were made up of international students (55% in the UK and 53% in North America and the Caribbean). Globally, the average conversion rate for international students was lower than for domestic students (31% vs. 38%).

This was also the case for a majority of individual regions, except in China (including Hong Kong, China) and India, where the conversion rates for international students (34% and 32%, respectively) were higher than those for domestic students. 4. Graduations In 2019, 36,046 individuals graduated from AMBA-accredited MBA programmes across the world, compared to 36,537 in 2018. On average, globally, there were 155 graduates for each Business School and 41 for each programme. 5. Programme delivery Programmes were most likely to be delivered in a part- time format (66%), followed by full-time (19%) and modular (14%) settings. However, this varies across regions. Part-time programmes were most numerous in Latin America (80%) and China (including Hong Kong, China) (76%). Meanwhile, full-time programmes were most popular in India (53%) and

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Oceania (49%). Modular programmes, which have content delivered in concentrated periods, were most common in Africa (36%) and Europe (22%). In terms of the method of programme delivery, classroom-based learning was the most prevalent

in the market are derived from a range of factors, including socioeconomic factors and geopolitics, as well as the standards and programme proposition provided by Business Schools. In saying that, the findings do provide insight at a time of great uncertainty in the global economy and the geopolitical landscape. The results from this study demonstrate AMBA-

method of teaching in all regions in 2019. More than four in five (82%) of programmes were conducted in a physical classroom building, globally. Blended programmes

‘Each AMBA-accredited Business School received an average of 576 applications for their portfolio of programmes and an average of 153 applications per programme’

accredited Business Schools’ ability to expand their programmes in an ever- more demanding world. Capturing regional variances and different aspects of MBA delivery throughout the globe, such as formats and figures on diversity, offers Business Schools an opportunity to reflect on their current position in the management education market and formulate new strategies. For example, in terms of gender

were the next most popular method (11%), with fully online programmes

being the least numerous (7%). The UK was the region where programmes were most likely to be delivered online (17%), followed by Oceania (8%) and Europe (6%). Oceania and North America and the Caribbean were the regions in which the blended method was used most frequently in programme delivery (27% and 21%, respectively). Illuminating insights at a time shrouded by uncertainty It is important to caveat any conclusions of these

diversity, the report’s findings indicate that positive change requires continued effort and ongoing action to ensure that the world’s leading Business Schools are taking a leading role in ensuring women have as much of an opportunity as their male counterparts to become successful leaders in management.

findings by saying that application and enrolment trends are not the sole measure of Business Schools’ performance in any given region. AMBA & BGA believes that movements

METHODOLOGY

In April 2020, data sheets were sent to 261 Business Schools that were accredited by AMBA in 2019. The data sheets asked Schools to provide relevant application and enrolment figures for their MBA, MBM and DBA programmes, and any other AMBA-accredited programmes delivered by the Business School in the calendar year of 2019. In total, 237 AMBA-accredited Business Schools returned their data, representing a response rate of 92%, of which 233 ran MBA programmes in 2019. Due to the different start and end dates of programmes across Schools, data was collected for the whole calendar year of 2019 (1 January–31 December) in order to ensure valid comparisons could be made.

As well as data pertaining to applications, offers, enrolment and graduation, supplementary data on applicants’ gender and geographic background (domestic vs. international) was collected, as was data on the method and mode of programme delivery. The findings presented in this analysis are based on data provided in relation to MBA programmes only. Data has been analysed with the use of nine regions which reflect the geographic spread of AMBA- accredited Business Schools and the composition of the MBA market. The full list of regions used is: Africa, Asia and the Middle East (excluding India and China), China (including Hong Kong, China), Europe (excluding the UK), India, Latin America, North America and the Caribbean, Oceania and the UK.

21 21 21

New lifelong learning research from AMBA & BGA shows that more than a third of graduates have sought to continue their education beyond their MBA programme, and outlines

their areas of interest. David Woods-Hale reports

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F rom quarantined students to a rapid migration to online teaching and learning, business education experienced its fair share of disruption in 2020. Yet, during this tumultuous year, AMBA & BGA was able to carry out a 360-degree portfolio of research, looking at the perspectives of Business Schools, employers, students and graduates as they sought to acclimatise to the conditions imposed by the Covid-19 pandemic. The research delved into the need for greater technological innovation – both in terms of course delivery and digital skills – and explored respondents' views on how successfully the business education landscape is evolving to meet the ever-changing needs of stakeholders at all levels. This section of the research focuses on the views of 2,110 MBA graduates, surveyed in the spring and early summer of 2020, on their satisfaction with their MBA and their

continuing relationships with the Business Schools at which they studied, in relation to lifelong learning and their continuing development.

value to their career prospects. Among respondents, 88% agreed that they have ‘gained substantially more skills to help them do business better’ as a result of completing the MBA. Meanwhile, 81% agreed that ‘the skills they learned during their MBA have helped them be more mentally resilient’, and 74% believed ‘they have been able to develop all the business- related skills they wanted’ as a result of completing the qualification. In terms of salary expectations, graduates were less sure as to how far their MBA has made an impact. Just over a third (23%) neither agreed or disagreed that ‘they felt equipped to reach the salary they wanted to achieve in the future’ – and 11% actively disagreed with this statement. When the sample was segmented to only include the findings for MBA graduates that had completed their qualification less than a year before taking the survey, the results revealed a higher level of satisfaction, compared with the rest of the sample. In all the areas measured, recent graduates are either one or two percentage points higher

‘54% said they would have liked “more networking opportunities”’

Graduate satisfaction post-MBA Graduates’ sense of satisfaction with their MBA qualification was gauged in an earlier part of the year’s research. Encouragingly, 71% of those polled were either ‘very satisfied’ or ‘fairly satisfied’ with the impact of their MBAs on their careers to date. At the other end of the scale, 10% were either ‘fairly dissatisfied’ or ‘very dissatisfied’. Following this, participants were asked for their opinion on the areas in which they believed the MBA had added the most

ON REFLECTION, IF YOU WERE TO DO AN MBA AGAIN, WHICH OF THE FOLLOWING ASPECTS WOULD YOU LIKE TO SEE MORE OF, OR IMPROVED?

54%

Better opportunities to network Help give me the knowledge and skills to successfully set up a new business More curriculum content on how to run a profitable business More appropriate content that is related to my industry Teach me skills that are more aligned to what I do in my job More curriculum content on how my business impacts on the world around me Provide me with more confidence to succeed in my jobs More curriculum content which looks at wider issues related to society More curriculum content on business ethics and sustainability Better quality of teaching Other (please specify)

37%

34%

31%

30%

29%

28% 28%

25%

22%

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