. This is designed to better prepare students to manage and thrive on new challenges in an ever-changing global business world through a more profound intellectual experience and more effective training on leadership development. These modifications allow students to customize their MBA programs
with a greater selection of electives, an increased number of half-semester core courses, more exchange programs for studying aboard, smaller classes, a closer integration of in-person and online class participation, and more week-long intensive courses.
Deeper, Smaller, Broader
So what are those key improvements? In a nutshell, MBA curriculums have been remodeled in 4 major aspects:
– More real-world relevant courses, more interdisciplinary courses (such as legal and international relations courses), and more collaborative effort – Harvard Business School, for example, offers the opportunity to cross-register for courses in other select graduate programs. So do many other top business schools. More extra-curricular lectures from business professionals and on-site projects with corporations or governments.
– Broader spectrum of electives allow you to construct your own study program and make your B-school academic experience unique. The weight of core courses as requirements for the degree is lowering. Many core courses are also offered in half-semesters to let you take many different courses within a semester’s time. For example, about half of Columbia Business School’s core courses are half-semester.
– More high-tech equipped classrooms with more frequent use of the Internet. Smaller class sizes. Classes are taught in seminars that maximize active participation and deeper intellectual involvement. More courses are taught by two or more faculty members as a team.More interaction with faculty advisors. For example, at Stanford Graduate School of Business, your faculty advisor partners with you to select the courses that fit with your personal background and interests.
– New curriculum models. For example, Yale’s MBA program
did away with the traditional self-contained subject courses such as marketing, finance, and organizational behavior. Instead it starts to offer an Integrated Leadership Perspective course focusing on managing internal and external parties such as all levels of employees, customers, competitors, and investors. The goal is to tie together all that students learned in the first year in a holistic manner.
What prompted these changes?
Many top-rated business schools had not developed new MBA programs
in nearly 30 years. Why all the changes now?The major reason for the changes is one framework of business education simply won’t work anymore. Interdisciplinary studies and experience-based learning foster the kind of creativity, leadership, problem-solving skills, critical and independent thinking, business ethics, and cultural sensitivity necessary to succeed in real-world business.
The impact of the dot-com era and an increasingly dynamic, global economy are two main catalysts for curriculum changes. MBA programs now incorporate more courses specifically geared toward e-commerce, digital media, and information technology. Programs also look beyond textbooks to incorporate more interactive learning into the classroom. The growing significance of communication in a global context also translates into a stronger emphasis on foreign language study and traveling abroad within MBA curriculum.
Finally, many top business schools have changed due to new dean and program director appointments in the past few years. These new personnel bring years of experiences, fresh perspectives, and great initiatives to instill new energy into well-established institutions in a competitive and adaptive MBA education world.
What Is Required of the Schools?
To take the program to the next level, those schools need significant funding from their respective parent institutions to support new facility, new equipment, increase in faculty and more. Both Stanford and Columbia are in the midst of expanding their business school campuses.As we can see, a lot of more work is ahead for all the top institutions. To educate next century’s business leaders, all the business schools need to stay at the forefront of the changes.
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During the recent two years, many business schools have revamped or retooled the curriculum of their