BGA | BUSINESS IMPACT
Looking beyond the use of online technology presents a further opportunity for the sector’s future direction, in Kathleen Riach’s opinion. ‘I think it’s important that now the initial “rush” of pivoting online has occurred, we have the opportunity to think a bit more strategically about not just online technology, but also how we can learn lessons from what was a very rapid response to a crisis and how we might enable and mobilise quickly in ways that help us proactively address broader challenges in the business world and beyond.’ 3 An application bump or alternatives sought? The global financial crisis of 2008 has been linked to an increase in applications to Business School, as people decided the time was right to reassess their career goals and pursue personal and professional development. Could the same be true for the Covid-19, especially among those who have had extra time for reflection while working from home? ‘Any seismic global event is undoubtedly – and hopefully – going to make people reflect on what they do and why, and I think we will see an increased interest in people taking this time to recalibrate career goals,’ says Riach. A rise in interest has already been observed at Collegium Humanum. ‘We recorded increased recruitment levels for MBA, DBA and LLM studies,’ reveals Paweł Czarnecki. ‘Perhaps this was due to the enforced lockdown and more time that our candidates could spare for
explains. ‘As most of our MBA students are employed full time, if any specific industry or sector gets affected, or its labour force is displaced, our students will have no source of funding.’ It could be that – at least in the shorter term – some forms of postgraduate business education will become more attractive than others. First, there is what Riach terms the ‘logistical challenges’ facing international students while travel restrictions remain. Changes to visa conditions and requirements, such as those introduced in the US in early July, will also have a significant impact on demand. Yet, the effects are likely to go beyond this, in Veeraraghavan’s opinion. ‘The priorities may shift away from acquiring new skill sets in an uncertain environment to honing existing skills to ensure survival. The global pandemic has also impacted lifestyle choices and spending patterns. Staying close to home might encourage an increase in family business interests and local, regional entrepreneurship,’ he says referencing the current Indian government’s Atmanirbhar (self-reliance) campaign in the wake of Covid-19. The growth of India’s personal protective equipment industry (PPE) industry from producing none at all in March 2020 to 150,000 a day by May has been held up as an example of a campaign
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for an online programme portfolio can shift. ‘We never planned online education because our education philosophy centres on the values associated with creating networking opportunities and personal relationships among students,’ says Paweł Czarnecki, Provost and Professor of Social Sciences at Collegium Humanum. ‘The pandemic has, however, forced us to move to the online education sector. We do not know what the situation will be in the coming months, but we have drawn positive conclusions from this difficult experience and will support traditional education with online education technologies, and expand our virtual university systems.’ At RSM, Ansgar Richter says planned strategic developments have evolved more quickly than anticipated. ‘We established a learning innovation team a number of years ago, for example, and Erasmus University set up an Education Lab which includes a television-grade studio. These investments are paying off, and we plan to accelerate them going forward. Technology will feature much more strongly in our strategy.’ Madhu Veeraraghavan echoes the view that anticipated changes in strategy have now been fast-tracked. ‘The current times have forced quicker adoption of online technology, less resistance and more acceptance. These positive changes will help redesign and position online programmes better. Faculty readiness and infrastructural improvement have happened faster than had been planned.’
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education. This trend still continues.’ Richter also notes an increase, while
cautioning that it is a little soon to draw any definitive conclusions. ‘We definitely see an increase in applications for our pre-experience programmes for the next academic year, in particular for our MSc programmes. For the post-experience programmes, it is too soon to tell… but so far, we have no indications of declining demand. I think there are a number of things at play here. Students’ desire to reassess their career goals being one of them. Students are also thinking more about sustainability, organisational resilience and leadership.’ Yet, funding may be a sticking point for many during times of economic and employment uncertainty. ‘Students' willingness to spend on expensive higher education will fall in the short term,’ advises Veeraraghavan. There are particular implications here for those who need to remain in full-time salaried employment during their study, as Antonio Fernós Sagebién
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