BGA | BUSINESS IMPACT
7 Adaptation, relevance and what matters most Business Schools to reinvent their value proposition for the better. But what might this new dawn look like? Two pillars stand out among those members of the BGA global network surveyed – adapting to remain relevant and focusing on what matters most. ‘Tomorrow’s managers will need to be incredibly comfortable with constant change. We will need to prepare them for that,’ says Richter. Constant change requires constant adaptation, and Czarnecki emphasises the need to consult with business practitioners regularly in order ‘to adapt [programmes] to the current needs.’ There is an argument that Covid- 19's economic challenges are a much-needed opportunity for For Veeraraghavan, adaptation is central to ensuring relevancy. ‘If there is one big change that will transform business education in the short term, it will be the industry’s ability to adapt its course offerings to deal with uncertainties and continue to be relevant to learners in these times. Acquiring an expensive Business School education may not be a priority for students and young executives but being relevant and useful will be.’ The cost of pursuing high-quality business education degrees on campus has long been a topic of debate in the face of changing student demographics, business priorities, and digital alternatives. Yet, in business education’s bid to secure continued relevancy, something positive may yet emerge from the devastating effects of Covid-19. ‘The Covid-19 crisis is providing much- needed focus on what’s really important in business education. We educate our students not only for the purpose of making lots of money, but also to enable them to be a force for positive change in society at large,’ says Richter. This theme is also on Riach’s mind: ‘Business Schools collectively are a powerful force. Thinking not only about our multiple accountabilities but also our potential to be incubators for change is so important, especially as we are at the beginning of the United Nations ‘Decade of Action’. ‘If we really want to support our students becoming change agents in their future workplaces and the economy more broadly, then we need to ensure they don’t feel they are passive, or mute, agents in the current systems and ways of thinking.’
A certainly practical challenges and possibly uncomfortable conversations that have to take place surrounding what it means to be a global Business School. However, I don’t think global and inward strategies are dichotomous ideas,’ she says, before proposing an alternative way of looking at this challenge. ‘It’s about thinking what our students and ourselves achieve from initiatives such as international exchanges and partnerships in their current form, and thinking how we can maintain and strengthen these aspects, as well as considering how the competencies and benefits can be garnered through a more intimate engagement with, and contribution to, local economies.’ Veeraraghavan points to another potential way forward for the time in which exchange limitations remain in place. ‘The international exchange programmes could still involve joint case study development, experiential learning and training at the faculty and student level,’ he says. Richter believes one solution lies in having plenty of options and ‘a large network of partner Schools to choose from,’ adding, ‘what has become more problematic are highly rigid programme structures, where you rely on one particular partner, or where a residency can only take place within a narrowly defined time window. So, you need greater flexibility’. His conclusion on outlook, meanwhile, is clear: ‘“Turning inwards” is a danger that we absolutely need to avoid.’ 6 Changes to course offerings Paweł Czarnecki believes it’s possible that we will see new courses focused on learning from Covid-19’s lessons. ‘It seems viable that study programmes might have to be integrated with courses that will deal with various competences related specifically to crisis management, especially when it comes to health emergency situations.’ New courses are already the subject of discussion at TAPMI in India. ‘We are considering adding modules and courses to deal with examples of similar global crises in the past. Ideas discussed as part of lean management, and (reverse) supply chain, for Might the pandemic and its impact on the business world influence programme content?
example, need to be revisited to look at the practices followed by companies in these times of crisis,’ says Veeraraghavan. Riach adds a cautionary note that any new programme content must be well thought out and focused on the value it offers students. ‘I think it’s very important that we don’t simply begin introducing reactionary courses that speak directly to a theme per se, but rather think about what capabilities and skills students will need as a result of these global changes and think how we can best foster these in our curriculum.’ For others, the change – at least for the time being – rests more on delivery formats. ‘Exploring is a part of innovation and students, faculty and administrators are looking for a return to a “new normal” that we have yet to know. Quite possibly, MBA courses will now also be offered in bimonthly- cycle modules,’ says Fernós Sagebién of Inter Metro’s offerings. RSM, meanwhile, ‘will have a more blended approach,’ according to Ansgar Richter, adding, ‘whether content will change remains to be seen.’
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