BGA’s Business Impact magazine: Nov-Jan 2022, Volume 10

Business Impact covers the big challenges facing global management education as the world asks more of its future business leaders.

THE MAGAZINE OF THE BUSINESS GRADUATES ASSOCIATION (BGA) | LEADERS NEVER STOP LEARNING | NOVEMBER 2021-JANUARY 2022

PLUS: • MBM ADMISSIONS APPLICATION NUMBERS UP IN NEW RESEARCH • MENTORSHIP LIFECYCLE SUPPORT FOR ENTREPRENEURS • PARTNERSHIPS CROSS-CONTINENTAL COLLABORATION

DIGITAL WELLBEING WHAT BUSINESS SCHOOLS CAN DO TO PROMOTE PERSONAL WELLBEING AND SUPPORT STUDENTS THAT STUDY REMOTELY

21 JANUARY 2022 LONDON

Tackling the issues that matter to Business Schools:  DIVERSITY  SUSTAINABILITY  IMPACT  INNOVATION  COLLABORATION  LIFELONG LEARNING

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T he Business Graduates Association (BGA) cultivation of social skills, ethical behaviour, self-confidence, and humility – all of which form the foundations of socially conscious and responsible leaders. The BGA network has grown to 189 member Schools (at the time of writing) since its launch in 2019, of which roughly believes that Business Schools must focus on broader aspects of their students' personal and professional development as well as to prepare them for future employment. This includes the half are members of BGA alone and half are members of both AMBA & BGA. The rise in numbers makes BGA the world’s fastest-growing Business School membership network. But membership is about far more than just belonging to a network that is gaining in stature. I would like to encourage all BGA Schools to make the most out of their membership. Each of you will have been granted access to services structured to provide you with the tools you need to gain a competitive advantage in the business education marketplace, with a focus on helping you serve your core markets of students, employers and wider community. BGA achieves this by supporting Business Schools’ continuous improvement, their impact on individuals and society, and their ongoing development of responsible management practices. Responsible management initiatives can be improved through BGA's consultative services, capacity-building workshops, and promotion of impactful projects and initiatives. BGA’s Desktop Review, for example, is a useful consultative – and complimentary – service for all BGA Schools that evaluates a specific aspect which a Business School is seeking to work on, be that in relation to its marketing and admissions strategies, or to its suite of undergraduate programmes. The School is then assessed confidentially by an impartial business education expert, and provided with an opportunity to benchmark its current offering against internationally recognised standards. The aim is that this will provide the Business School with a clearer understanding of the steps needed to progress in this area and achieve quality recognition on an international level. There are now (again, at the time of writing) 18 Business Schools that have either achieved joint AMBA & BGA accreditation, or solus BGA accreditation. For those looking to turn their membership into accreditation, it’s worth reminding you that BGA accreditation puts the concepts of responsible management and sustainability at its heart, making it different from other accreditation processes. To achieve accreditation, Business Schools must provide evidence of their commitment to the UN’s Sustainable Development Goals – through their actions as well as their teaching and scholarship. BGA was developed to bring responsible management to the forefront of business education, and to advance the sustainability agenda. In the information age, it is critical that stakeholders understand the role that Business Schools play in developing responsible managers for the future.

The world’s fastest- growing Business School network AMBA & BGA CEO, Andrew Main Wilson , reflects on the growth of the BGA network and explains how the organisation helps Business Schools improve their development of responsible management practices

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IDENTIFYING IMPACT & CELEBRATING SUCCESS

Discover which BGA Business Schools have made the shortlist in six categories of the AMBA & BGA Excellence Awards 2022, including all those nominated for the BGA Business School Impact Award 2022. By Tim Banerjee Dhoul

‘Judges will consider the extent to which an initiative enhances the reputation of a School's portfolio of programmes’

BGA | BUSINESS IMPACT

B usiness Schools in India, Belgium, Mexico, Peru, China and Ukraine have The BGA Business School Impact Award 2022 is designed to offer a platform through which BGA member, validated, and accredited Schools can demonstrate their stakeholder impact – on students and graduates, and the wider communities in which they operate – through programme design, social outreach programmes, alumni relations, careers services and so on. Here are the nominees: • Antwerp Management School, University of Antwerp (Belgium), for ‘The Positive Impact Project (PIP)’ ; BGA member Business School • Athena School of Management (India) for ‘Creating Impact for Stakeholders’ ; BGA member Business School • Centrum PUCP Business School, Pontificia been shortlisted for the BGA Business School Impact Award 2022. Impactful institutions Universidad Católica del Perú (Peru) for ‘Undertaking Tourism Now (Turismo Emprende Ya)’ ; BGA-accredited Business School • EGADE Business School, Tecnológico de Monterrey, (Mexico) for ‘Sustainable Wealth Creation Based On Innovation and Technology (SWIT)’ ; BGA member Business School • International Management Institute (MIM-Kyiv) (Ukraine) for ‘Building Business Education in Tajikistan’ ; BGA-accredited Business School • School of Economics and Management, Dongguan University of Technology (China) for ‘100 Groups in 1,000 Counties’ ; BGA member Business School In selecting a winner, the judges will consider innovative qualities, quantitative and qualitative measurements of impact, and the extent to which an initiative enhances the reputation of a School's portfolio of programmes and the institution as a whole.

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Celebrating excellence in business education: the AMBA & BGA Excellence Awards 2022 The BGA Business School Impact Award 2022 forms part of the AMBA & BGA Excellence Awards 2022. With a total of 10 categories, the awards celebrate excellence among Business Schools, students, graduates, suppliers, and employers that share AMBA & BGA’s values of ambition, impact and integrity. BGA member, validated, and accredited Business Schools also feature prominently among the shortlisted nominees in the five other non-MBA-specific categories for which they are eligible. Those categories and nominees are detailed below. Best Culture, Diversity and Inclusion Initiative 2022, in association with McGraw Hill Education The Best Culture, Diversity and Inclusion Initiative award recognises the work of Business Schools in creating, incorporating and developing culture, diversity and inclusion practices at their institutions, while balancing and involving fair working environments. • Centrum PUCP Business School, Pontificia Universidad Católica del Perú (Peru) for ‘Word of Women Academy (Academia Palabra de Mujer)’ ; BGA-accredited Business School • Escuela de Negocios, Universidad del CEMA (UCEMA) (Argentina) for ‘Advancing gender equity by promoting women in leadership’ ; BGA member Business School • Mannheim Business School, University of Mannheim (Germany) for ‘MBS Diversity Day’ • School of Business and Management, Shanghai International Studies University (SISU) (China) for ‘Embedding Management Talent Cultivation in Multiculturalism’ ; BGA member Business School • UCD Michael Smurfit Graduate Business School, University College Dublin (Ireland) for ‘Intercultural Development Programme (ICD)’ Best Business School Partnership 2022, in association with Wharton Research Data Services (WRDS) The Best Business School Partnership award recognises organisations that have adopted a proactive, innovative approach to strategic collaboration. Partnerships can, for example, be with another Business School/group of Schools, an employer, a consultant, education partner or technology provider, a social impact group, an individual, a charity, or another organisation. • Católica Lisbon School of Business and Economics,

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BGA-accredited Business School • Newcastle University Business School, Newcastle University (UK) for ‘Developing Responsible Leaders for the Future through the Design and Delivery of a New Executive MBA Programme’ ; BGA member Business School • Porto Business School, Universidade do Porto (Portugal) for ‘Porto Business School Urban Garden’ Best Lifelong Learning Initiative 2022, in association with Kortext The Best Lifelong Learning Initiative award recognises the efforts of Business Schools that are reinventing teaching and learning among students, graduates, alumni networks and custom and executive education. • Antai College of Economics and Management, Shanghai Jiao Tong University (China) for ‘The Industry Community Classes Program (ICCP)’ • College of Economics and Management, Zhejiang University of Technology (China) for ‘GET - Gather Alumni, Enlighten Alumni, Turbo Alumni’ ; BGA member Business School • EGADE Business School, Tecnológico de Monterrey (Mexico) for ‘Alternative Learning’ ; BGA member Business School • IE Business School (Spain) for ‘Turn It Around - Alumni Engagement’ • Imperial College Business School, Imperial College London (UK) for ‘MBA Student Enhancement Package’ ; BGA member Business School • School of Management, Huazhong University of Science and Technology (HUST) (China) for ‘Lifelong Learning Ecosystem Development Initiative’

Universidade Católica Portuguesa (Portugal) with Veolia; BGA member Business School • Dongwu Business School, Soochow University (China) with Soochow Securities ; BGA member Business School • Gordon Institute of Business Science (GIBS), University of Pretoria (South Africa) with JP Morgan • International Management Institute (MIM- Kyiv) (Ukraine) with BookChef Publishing House; BGA-accredited Business School • Thammasat Business School, Thammasat University (Thailand) with Government Savings Bank ; BGA member Business School • UCD Michael Smurfit Graduate Business School, University College Dublin (Ireland) with Their Lives Matter – Tumaini La Maisha (TLM) Best CSR and Sustainability Initiative 2022 The Best CSR and Sustainability Initiative award honours Business Schools that are taking the initiative in creating a sustainable future and teaching students about social values, as well as making a positive impact in practical and measurable ways. It gives Schools a chance to showcase their innovative and original CSR and sustainability initiatives on a global stage. • Esade Business School, Ramon Llull University (Spain) for ‘Sustainable Impact: Our Chance to Change the World Together’ • ESMT Berlin (Germany) for ‘Net Impact Club's Carbon Accounting Initiative’ • Graduate School of Business, MIP Politecnico di Milano (Italy) for ‘Leave your Mark: An Important Opportunity for Students and Alumni to Grow’ ; BGA member Business School • Indian Institute of Management Indore (India) for ‘Environmental, Social and Corporate Governance (ESG)’ ; BGA member Business School • International Business School Suzhou, Xi’an Jiaotong-Liverpool University (XJTLU) (China) for ‘15 Ways in 15 Weeks’ ;

reward game-changing new practices, risks and creativity. This year, the judges are especially interested to find out how Business Schools have innovated and adapted in light of the Covid-19 pandemic. • MBA Centre, Shanghai University (China) for ‘Launch of New Global Industry MBA Specialisations’ • NEOMA Business School (France) for ‘NEOMA Business School Virtual Campus’ • School of Economics and Management, South China Normal University (SCNU) (China) for ‘Optimal Integrated Innovation Strategy’ ; BGA member Business School • School of Economics and Management, Southwest Jiaotong University (China) for ‘The “Quaternity” Tactic’; BGA member Business School • UCD Michael Smurfit Graduate Business School, University College Dublin (Ireland) for ‘UCD Business Alumni Challenge – Around the Globe in 30 Days’ • Wrexham Glyndŵr University (UK) for ‘Active Learning Framework: Reflections’ ; BGA member Business School The winners The winners of the AMBA & BGA Excellence Awards 2022 will be announced at a hybrid-format gala dinner on the 21 January 2022. This means can that you can attend either physically or virtually. The physical event takes place at the Biltmore Hotel located on Grosvenor Square, in the heart of London, and will feature a glittering evening of networking and fine dining. If you’re unable to attend in person, you can still join us from wherever you are in the world and celebrate all the shortlisted finalists and winners seamlessly as they are announced live from London. To book an in-person place at the AMBA & BGA Excellence Awards and Gala Dinner, or to register your virtual attendance for the livestreamed event, please visit the BGA website at: www.businessgraduatesassociation.com/ amba-bga-gala-dinner-2022

Best Innovation Strategy 2022, in association with Barco

The Best Innovation Strategy award is a celebration of innovation and radical thinking in business education delivery across all areas of the Business School and has been developed to recognise and

BGA | BUSINESS IMPACT

PROTECTING THE DIGITAL WELLBEING OF BUSINESS SCHOOL STUDENTS

What could Business Schools be doing to look after the digital wellbeing of the new generation of remote and/ or blended learners? Arden University’s Anthony Thompson considers potential solutions and explores how to engage students in an increasingly online environment

BGA | BUSINESS IMPACT

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BGA | BUSINESS IMPACT

I n a digital world, there are fewer social cues and fewer resources at hand. This Having a strong internal system in place to engage students and ensure they have all the information they need is vital. But what should that system look like? Interestingly, a system similar to a social media platform could have a positive impact on students’ wellbeing and social lives. This article explores these possibilities in further detail and discusses what Business Schools could be doing to look after the digital wellbeing of this generation of remote and/or blended learners. rings true for students as well, meaning that universities and Business Schools have a responsibility to make sure their graduates are well equipped and ready to thrive in an increasingly online environment. New ways of learning are thriving Traditional approaches to education have evolved rapidly over the last decade. Technology-mediated learning has helped unlock whole new ways of studying, communicating and interacting, providing the flexibility for students to work in a way that suits them best – whether that is on campus, at home, or in their neighbourhood coffee shop. Even before the Covid-19 pandemic hit, this switch was on the cards. The rise of technology-mediated education had long been in the works with the development of online and blended learning degrees offering students the opportunity to study when and where they want – all they needed was access to a laptop and a half-decent internet connection. These options were thriving for good reason. From an academic perspective, digital tools can empower students to study flexibly, communicate with other students across the world and open up access to a whole host of research and information tools. Professionally, digital literacy is one of the most important employability skills students can possess – it is increasingly sought after by employers and has been cited in some quarters as crucial to the success of the fourth industrial revolution. ‘A system similar to a social media platform could have a positive impact on students’ wellbeing and social lives’

The line between being switched ‘on’ or ‘off’ From an accessibility perspective, it makes sense that the world would move in this direction, as the population becomes increasingly enthralled with its smart devices. Unsurprisingly, perhaps, research has found that around 88% of people use smartphones, and around 95% of these smartphones are used every day, according to Deloitte’s Global Mobile Consumer Survey 2019 . Many of us reach for our phones shortly after waking up in the morning, while younger age groups are known to find it hard to put their phones down when they go to bed at night. And while many traditional Business Schools emphasise the development of skills and the importance of ensuring the population is confident in using technology for both academic and professional uses, less emphasis has been placed on how students can use technology to promote personal wellbeing and ensure they are looking after themselves when studying remotely. The danger is that while students may be able to use this technology to catch up on pre-seminar reading on the train home or listen to a lecture at 3am, the line between being switched ‘on’ or ‘off’ can be distorted. This same issue has been reported in workplaces up and down the UK over the last 18 months as the pandemic altered the working practices of professionals across a whole

BGA | BUSINESS IMPACT

‘Less emphasis has been placed on how students can use technology to promote personal wellbeing and ensure they are looking after themselves when studying remotely’

Social interaction must be at the centre of solutions Among the solutions that have been tested are apps that have been designed in collaboration with [secondary/ high] schools, students and charities that would allow students to enter data about their wellbeing progress and provide personalised recommendations with access to support from a range of resources. Such initiatives are backed up by my own research, which found that digital tools can be a viable way of empowering individuals to take control of their health and wellbeing, even when distanced from colleagues and friends. However, there are important factors that must be present in digital interventions to make them appealing to people who are working remotely. Firstly, there must be an opportunity for social interaction. Static websites that simply display information to the user have limited effectiveness and fail to encourage repeat visits and continued engagement. Generally, these systems find that engagement levels taper down as individuals become bored and begin to disengage with the material. At this juncture, it's important to consider the websites that millions of people use daily. The likes of Facebook, Instagram, Twitter and TikTok enable social interactions through carefully curated algorithms that are designed to offer the kinds of content its users are going to like and engage with. They enable these same people to engage in social interactions with their friends, family, colleagues and classmates. Vitally, they also enable their users to make their own content. Humans are hard-wired to contribute, to share thoughts, ideas and experiences. They are the experts of their own lives and so providing a platform where conversations, photographs and other media relating to a topic can be shared naturally promotes engagement and involvement. ‘Off the shelf’ options can only go so far Ultimately, the development of any technological solution should be a collaborative process between Business Schools and students. Each party should work with the other to co-create their educational experience and explore how student wellbeing can be enhanced. Every Business School has unique opportunities, resources and challenges. While ‘off the shelf’ interventions may be available for universities to purchase, they can only go so far. To see real change, localised solutions that can accommodate the resources, opportunities and unique student demographics of each Business School may be required. Co-creating digital wellbeing tools

range of sectors, proving it is not an issue that is limited to educational settings. The concern is that if we’re not looking after wellbeing and encouraging a healthy work-life balance, grades will undoubtedly suffer and we’ll struggle to get the best results for our students. Indeed, there is compelling evidence which suggests that positive wellbeing in students can be a precursor to outstanding academic achievement, highlighting the importance of looking after our students, as this directly supports the ability to push them to achieve their academic heights. In this respect, Business Schools might be missing a key opportunity to support students on their journey of personal growth and academic attainment by under- emphasising the role that digital wellbeing can play. This is vital at this particular moment in time – we find ourselves at a critical juncture as the way we work is scrutinised like never before due to the Covid-19 outbreak. Addressing the decline in student mental health The pandemic changed the way we communicate, interact and travel. From a student’s perspective, it disrupted access to lecture theatres and examinations, and prevented opportunities for students to interact with their classmates in typical settings. Put simply, it turned the student experience upside down overnight. A YoungMinds survey recently found that 80% of young people reported a decline in their mental health throughout the pandemic. It’s a worrying trend and something that we have to take very seriously if we are to ensure that we set these young people up for the best start possible in their careers. One potential explanation for the decline in student mental health is that they are being required to spend more time sitting behind a computer at home, with fewer opportunities to walk around Business School campuses, socialise in person with classmates and travel between two locations as part of their regular day. Participation in regular physical activity can increase self-esteem and reduce stress and anxiety. It also plays a role in preventing the development of mental health problems and has proven to improve the quality of life of people experiencing mental health problems. And that’s before you get to the physical issues that can be exacerbated by a lack of physical exercise. Setting up physical competitions, such as walking 10K steps a week, can help break up time spent stationary at a desk, as well as create dialogue between those involved.

BGA | BUSINESS IMPACT

with students, rather than for students, can allow organisations to tap into a breadth of knowledge, experiences and ideas. This will make the content more relevant and highlight problems and solutions that may not previously have even been on the School’s radar. This is where the inclusion of social media elements into digital wellbeing tools can help again. The inclusion of these elements into digital wellbeing tools opens up the possibility of tailoring the information that can be accessed – enabling individuals to join groups that most resonate with them while spending less time wading through topics or discussions that are not of interest – particularly important for students on business courses which are well-known for their demanding nature. Much like the static website, it’s important to not overwhelm users with too much information as this can lead to choice fatigue and disengagement, discouraging people from accessing the very interventions that have been put in place to support them. When actively managed, social media-style platforms can promote support and ownership. A business environment is highly competitive, so setting up friendly competitions and challenges for students will not only get students moving, but also bring out teamwork and collaboration. It is a co-operative and supportive way to get students to feel like they are part of a team. Platforms can also be adapted to include elements of gamification to promote engagement. Virtual badges, unlocking achievements and digital certificates can create a sense of progress and achievement towards a goal. Indeed, skills badges and certificates have already begun to permeate professional business platforms such as LinkedIn. The same principles can be applied to enhance engagement in Business School settings. Tracking engagement and refining systems It needn’t be laborious for students either. With a good internal digital social system in place, you can track engagement and see what is working for users and what isn’t. Is the virtual art night not working? That’s fine – perhaps try a yoga challenge. Has a student thought of a quirky new idea? Ensure that they have a space to share it with others. Is no one clicking on that super awesome page full of tips and tricks? Then maybe the Business School can revisit its design. Often, you will find that those who may not typically engage in particular activities in the physical world, will do so virtually. The online disinhibition effect (where people can feel safer communicating thoughts and ideas online than in person), may help us hear the voices of those who are unheard in more traditional approaches to student wellbeing. It will provide comfort for the more introverted; using digital systems is more adaptable than traditional social events and interventions, meaning that groups that wouldn’t necessarily mix in person, will have a chance to do so virtually.

‘If we’re not looking after wellbeing and encouraging

a healthy work-life balance, grades will undoubtedly suffer’

Education has changed rapidly since the pandemic and student experiences have changed rapidly too. While many Business Schools are taking active steps to support the academic and professional wellbeing of students, the importance of digital wellbeing may be less apparent. However, socially interactive digital tools can provide a lifeline for students in both protecting their own personal wellbeing and connecting them to a wider learning community. Given that poor mental health and physical inactivity have been associated with poorer academic performance, the importance of actively engaging with student digital wellbeing cannot be understated.

Anthony Thompson is the Programme Leader for Postgraduate Psychology at Arden University. With extensive industry experience as an independent business psychology consultant, and a keen interest in personality and intelligence research, he is passionate about making psychology accessible. Anthony's research has spanned areas that include occupational psychology, health psychology and co-creation.

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NEW BATCHES BRING IN BIGGER MBM STUDENT NUMBERS WORLDWIDE Amid the transition to blended and online learning, exclusive AMBA & BGA research shows that Business Schools received more applications across an increased number of MBM programmes in 2020, although regional experiences for the format did vary. Ellen Buchan and Tim Banerjee Dhoul report

BGA | BUSINESS IMPACT

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BGA | BUSINESS IMPACT

MBA-accredited Business Schools received a larger volume of applications for their master’s in business management (MBM) programmes, on average, as many upped

the number of programmes on offer between 2019 and 2020, according to new and exclusive data from AMBA & BGA.

Changes to admissions numbers, 2019-20 Although the number of applications to individual MBM programmes fell by 7% between 2019 and 2020, there was a 5% increase in the number of MBM applications per Business School, indicating that larger volumes of applications were spread across a greater number of programmes. Indeed, the number of MBM programmes offered by responding Business Schools worldwide in 2020 was 13% higher than in 2019. This increase might help to explain why, for example, applications per MBM programme available among Business Schools in India were down by 12%, yet the total number of applications received by each School in the south Asian country were up by an average of 4%. Globally, the uptick in programme options appears to have generated a greater number of applications from prospective students in a year marked by the impact of Covid-19, although these changes were more pronounced in some regions than others. In Europe

(excluding the UK), for example, MBM applications per School were up 17% in 2020 and, among Business Schools in the UK, the rise was 23%. Regardless of the number of programmes on offer, the growing ranks of MBM students

worldwide are demonstrated by the increase in the number of those enrolling onto programmes in 2020. Not only did enrolments per Business School (which encompasses their increase in programme number) rise – by 21% worldwide – but so too did the average number of students that enrolled on each individual programme, by 8%. MBM enrolments per programme were up by a regional high of 26% in Europe (excluding the UK).

‘The growing ranks of MBM students worldwide are demonstrated by the increase in the number of those enrolling’

BGA | BUSINESS IMPACT

MBM PROGRAMME DELIVERY MODES: 2019 (USED) VS. 2020 (INTENDED) VS. 2020 (USED)

Intended mode of delivery 2020

Most used mode of delivery 2020

Intended mode of delivery 2020

Most used mode of delivery 2020

Intended mode of delivery 2020

Most used mode of delivery 2020

2019 (used mode of delivery)

CLASS ROOM

CLASS ROOM ONLINE ONLINE ONLINE

BLENDED BLENDED BLENDED CLASS ROOM

Global

16%

20%

54%

84%

79%

14%

32%

Africa

33% 100% 100%

67%

China (including

Hong Kong, China)

100% 100% 100%

Europe (excluding the UK)

20%

31%

50%

80%

67%

20%

30%

India

23% 100% 92%

27%

50%

North America and Caribbean

73%

76%

27%

24%

76%

Oceania

100% 100% 100%

92% 98% 100%

BGA | BUSINESS IMPACT

France and the UK are two of the world’s biggest markets for business education and the options for studying a master’s in business management (MBM) degree at one of their leading Business Schools are often high on the list of many prospective students – both domestic and international. They are also countries with significant numbers of AMBA-accredited Business Schools. This case study compares admissions data from 98 MBM programmes on offer among 29 Business Schools in France and the UK which responded to AMBA’s application and enrolment survey for the calendar year of 2020. FRANCE Across 44 programmes, Business Schools in France received an average of 3,621 applications per programme in 2020 and ultimately enrolled an average of 453 students. The acceptance rate (the number of applicants who were offered a place at the Business School) was 43%. The yield (the proportion of those who chose to enrol after being were offered a place) was 29%. The vast majority (92%) of MBM programmes in France were intended to be taught in the classroom, with only 5% intended to be taught using a blended approach and 1% intended as being fully online. As the events of 2020 unfolded, the proportion of programmes that were actually taught in the classroom dropped to 33%, while blended and fully online teaching rose to 27% and 39%, respectively. Applicants to MBM programmes in France were a 50/50 split between men and women. Among those enrolling, 49% were female on average. MBM applications to Business Schools in France came largely from domestic prospects in 2020, with only 17% stemming from international prospects. However, this proportion rises to 23% among enrolled students. TWO EUROPEAN BUSINESS EDUCATION STALWARTS: MBM ADMISSIONS CASE STUDY

MBM ADMISSIONS IN THE UK: AT A GLANCE Applications per programme 800 Enrolments per programme 68 Acceptance rate 48% Yield rate 18% Proportion of female enrolments 51% Proportion of international enrolments 88%

MBM ADMISSIONS IN FRANCE: AT A GLANCE Applications per programme 3,621 Enrolments per programme 453 Acceptance rate 43% Yield rate 29% Proportion of female enrolments 49% Proportion of international enrolments 23%

Third instalment of Business Impact ’s MBM market analysis This is Business Impact ’s third report on the admissions landscape for master’s in management (MBM) programmes worldwide. The BGA publication’s inaugural investigation into data for international MBM applications and enrolments was released in 2020 and focused on the scale of demand for the MBM format in India. Released earlier this year, the report’s second iteration considered key demographics of those applying and enrolling onto MBM programmes – namely, the proportional splits between male and female students and between domestic and international students. This latest edition is focused on year-on-year variations in data, together with a deep dive into case studies of two key providers of the MBM format, France and the UK, to the left of this column. All findings are based on AMBA & BGA’s exclusive pool of data relating to admissions to 149 MBM programmes in the calendar year of 2019, rising to 168 MBM programmes in the calendar year of 2020, on offer among 49 Business Schools worldwide – all of which are accredited by BGA’s sister organisation, the Association of MBAs (AMBA).

THE UK There were, on average, 800 applications and 68 enrolled students per programme across 54 MBM programmes in the UK in 2020. The average acceptance rate in the UK was 48%, while the average yield was 18%. The difference between pre- and post-Covid-19 teaching modes is stark. All programmes (100%) included in this data analysis were intended to be taught in the classroom in 2020, yet none ended up being delivered this way. Instead, 89% were taught using a blended mode and 11% were fully online. There were, on average, more female applicants to MBM programmes in the UK than male – 57% of applications came from women. However, the average proportion of female students levels out to 51% when looking at enrolled students. Nearly all (97%) applications to MBM programmes in the UK came from international prospects in 2020. Only 3% of applicants were based in the UK itself. When looking at enrolled cohorts, the picture shifts slightly, with 88% defined as international students, and 12% defined as domestic students. Key contrasts between France and the UK As can be seen from the above, there are some significant differences when comparing MBM admissions in France and the UK, based on Business Schools’ experiences in 2020. • More applications per programme in France (3,621 vs. 800 in the UK). • Smaller class sizes in the UK (68 enrolled students per programme vs. 453 in France). This is, in part, driven by France’s prestigious Grande École programmes which have high numbers of students. • Higher yield in France (29% vs. 18% in the UK). This suggests that applicants to UK Business Schools are more likely to have applied to multiple institutions. • Far higher proportion of international students in the UK (88% of enrolled students vs. 23% in France).

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BGA | BUSINESS IMPACT

APPLICATION AND ENROLMENT NUMBERS PER MBM PROGRAMME IN 2020

Applications per programme 2020

Enrolments per programme 2020

Africa

103 564

49 79

China (including Hong Kong, China)

Europe (excluding the UK)

1,920

285 168

India

52,812

North America and Caribbean

294 739 824

Oceania

112

Global average

9,204

169

Tracking the impact of Covid-19 on teaching methods We know that many Schools have been forced to pivot on their delivery of programmes due to Covid-19, so this year’s data template asked for Schools’ ‘most used mode of delivery’ as well as their ‘intended mode of delivery’ with a view to determining the difference between theory and practice. Comparing, firstly, how programmes were taught in 2019 to how they were intended to be taught in 2020, already indicates a slight global trend for programmes to be taught using blended or online modes of delivery, even before the disruption of Covid-19 has been considered. If all programmes globally had been taught the way they had been intended to in 2020, the classroom mode of teaching would have decreased in usage by five percentage points between 2019 and 2020. Yet, classroom teaching was the most used mode of delivery on only 14% of programmes globally in 2020, down from 84% in 2019. The majority of MBM programmes turned to a blended format (54%), with a further 32% of programmes using online delivery for the most part. This shift shows the very real impact that the Covid-19 pandemic has had on global teaching methods. Acceptance and yield Acceptance rates (the percentage of applicants who were given an offer by a Business School) varied significantly across regions, but the global average was 6% in 2020. MBM programmes in India had the lowest acceptance rate, on average, with only 1% of those who applied being accepted onto a programme. Elsewhere, acceptance rates were significantly higher, for example 37% among programmes in Europe (excluding the UK) and 48% in the UK. Yield (the percentage of students who enrol onto programmes in Business Schools after being offered a place) also varied significantly by region. While the global

BGA | BUSINESS IMPACT

METHODOLOGY The AMBA & BGA Application and Enrolment Report 2021 outlines the current state of the world’s MBA market. As part of the data compiled for the report, 61 AMBA-accredited Business Schools also provided data on their portfolio of master’s in business management programmes (commonly known as MBMs or MiMs). These generalist, postgraduate, and predominantly pre-experience, degrees are most often designed to provide a thorough grounding in the theoretical fundamentals of management, accompanied by substantial practical input. As such, it typically provides a foundation for individuals starting a career in management and has been identified as a particular area of interest for members of the Business Graduates Association (BGA), which aims to ensure graduates of all levels of business education commence their careers with a firm understanding and appreciation of the principles of responsible management, positive impact and lifelong learning. Of the 61 Schools who provided data on their master’s programmes for the calendar year of 2020, 49 also completed last year’s study in which they supplied data for 2019, allowing figures to be compared directly between the same Schools, year on year. This analysis covered 168 programmes in 2020, which rose from 149 programmes in 2019. This like-for-like analysis is the most accurate measurement of changes in the AMBA & BGA network from year to year, as it compares an identical set of Schools that is not skewed by changes in the profile or participation of AMBA-accredited Business Schools. MBM programmes analysed in the like-for-like proportion of this report were delivered at Business Schools based in the following locations: Europe (excluding the UK) (38%); the UK (31%); India (15%); China (including Hong Kong, China) (1%); North America and the Caribbean (10%); Oceania (1%); and Africa (6%).

average was 32%, the UK’s yield rate was 18% in 2020, compared to 41% among responding Business Schools in Europe (excluding the UK). This suggests that applicants to MBM programmes the UK were more likely to apply for more than one Business School and were left choosing between those from which they received an offer, whereas those applying to programmes in Europe (excluding the UK) were more likely to have their eyes firmly fixed on one Business School.

Diversity in MBM admissions Gender

Globally, the proportion of female applicants to MBM programmes in 2020 was 37%, an increase of one percentage point from 2019. Enrolments, however, remained closer to an equal gender balance – 47% of enrolled students in 2020 were female and this worldwide figure is unchanged from its equivalent in 2019. On a global level, there was no change to the global proportion of female enrolees between 2019 and 2020, meaning that female students continued to represent the majority of enrolees in many areas of the world. In China (including Hong Kong, China) women made up 62% of enrolled students, in Africa it was 60%, Oceania 53% and the UK, 51%. Business Schools in India had the lowest proportion of female enrolees in its master’s in business management programmes, at an average of 37% across its cohorts in 2020. However, this represents an improvement of three percentage points on the equivalent figure from 2019. International students When looking at the global picture, students who applied and enrolled onto MBM programmes in 2020 appear to come overwhelmingly from the domestic market. Among applicants, 96% were domestic, although this drops to 68% among enrolees. In each case, the figures represent a one percentage point decrease in the proportion of international students from the last year. Yet the global picture hides significant regional variations. While most regions did have a majority of domestic applicants to its MBM programmes, North America and the Caribbean and the UK provide two notable exceptions to this rule, with only 9% and 3%, respectively, of applicants and 15% and 12%, respectively, of enrolees coming from the domestic base of the Business Schools in these regions.

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