Business Summit: Business Education in the 21st Century

Professors Garvin and Datar provided data about the challenges facing the business education marketplace and presented qualitative information on innovations in top MBA programs.

On the whole, MBA programs are in decline. Their value is being questioned, and they are seen as overly emphasizing analytics rather than skill development and experiences. Deans, executives, and recruiters identified four main areas where current MBA programs are falling short: leadership, globalization, communication/presentation skills, and problem identification in ambiguous environments.

In response, MBA programs are innovating and experimenting to change the MBA experience, and to help business education regain its relevance and value. They are changing their curricula and are attempting to make the learning experience more interactive, engaging, global, and experiential.

Key concepts include:
* The full-time, two-year, traditional MBA program is in decline.
* MBA programs are in decline partly because the education is not seen as relevant.
* New experiments and innovation in MBA curricula and how courses are taught is widespread at top schools.

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