E VALUATION OF GROWTH, TRENDS AND CHALLENGES OF GLOBAL MANAGEMENT EDUCATION G LOBAL M ANAGEMENT E DUCATION Sowmya BK 06/02/2011

Growth & Trends – In Emerging Economies Source: 1- UNESCO Report – 2006, 2- Quality in Business Education: A Study of the Indian Context In India:  Popularity of management education grew rapidly as India liberalized in 1991 Around the globe:  Between 1991 and 2004, the number of tertiary students more than tripled in Sub-Saharan Africa, Middle East and more than doubled in all regions of East Asia and Latin America. The enrollment grew 94.1% to its 2004 figure of 132 million 1  10 million businesses in China, including 284,000 state-owned enterprises and 300,000 joint venture or foreign-invested firms, concludes that the demand for MBAs would reach 37,400 annually Shift in Primary Product Offering by Business School 2 Change in the view was the education shift from Commerce education to Management education to Quality Education

Implication of Global Management Education Source: Educational Research and Review Vol. 2 (12), pp , December 2007 A Research adopted where, a total of 946 courses were reviewed in 8 leading international business schools. The following business schools were included in the research: 1. Kellogg School of Management, USA 2. Wharton School of the University of Pennsylvania, USA 3. Stanford University, USA 4. Sloan School of Management, MIT, USA 5. Yale School of Management, USA 6. London Business School, UK 7. Indian Institute of Management, India 8. Lahore University of Management Sciences, Pakistan Total courses offered in selected business schools Does the global management education imparting business knowledge alone?

Implication of Global Management Education Source: Educational Research and Review Vol. 2 (12), pp , December 2007

Implication of Global Management Education – Current Scenario LBS promise to provide their student with enhanced business performance, World-class faculty insight and global classroom perspective by imparting quality in education Programs at LBS have main focus at the following course offered, 1. General Management 2. Finance 3. Human Resources 4. Leadership 5. Marketing 6. Strategy

Challenges in Global Management Education  Quality Assurance Universal yardsticks for measuring quality in business education – 1. Quality of students including the admission process, 2. Pedagogy 3. Placement 4. Faculty development and 5. Infrastructure  Sustaining Scholarship  Balancing Global Aspirations and Local Needs  Aligning with the Future Needs of Organizations

Recommendations to bring the change  Advocate for quality assurance globally and locally  Business schools must meet the challenge to deliver management education and knowledge that is relevant in both global and local settings.  Invest in mechanisms to engage business and government leaders in envisioning future organizational and societal needs  Develop industry-level dialogues regarding the future needs and expectations of organizations and societies  Create an international clearinghouse for data and information related to business schools  Repository is to provide structure to macro-level information, support efforts to track trends, identify emerging issues and challenges, and advance management education  Organizations of business schools collaborate to collect and maintain comparable school-level data about mission, programs, faculty, and students  Facilitate and encourage investments in doctoral degree education  Promising areas for doctoral education development are global collaboration and program innovation.  Quality will suffer otherwise, as will the ability of business schools to advance management theory and practice through research  Facilitate multilateral collaboration among business schools  To facilitate international collaboration among business schools by collectively providing market research and information about effective models for global partnerships, and by connecting potential collaborators who have similar interests  Combined, AACSB and EFMD’s EQUIS have accredited business schools in only 41 countries

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Source: Financial Times Global MBA Rankings 2010

The 12 pillars of competitiveness Source: The Global Competitiveness Report © 2010 World Economic Forum

Engaging the Global Management Education Community Associations and business school networks, whether they have a global, regional, or country specific mission, are important players in the global management education community. Some of the global accrediting organizations are  Association to Advance Collegiate Schools of Business (AACSB)  European Foundation for Management Development (EFMD),  Association of African Business Schools (AABS),  Association of Asia Pacific Business Schools (AAPBS),  Association of Indian Management Schools (AIMS),  Association of Management Development Institutions in South Asia (AMDISA),  Australian Business Deans Council (ABDC),  Canadian Federation of Business School Deans (CFBSD),  Central and East European Management Development Association (CEEMAN),  Latin American Council of Management Schools (CLADEA), and  Russian Association of Business Education (RABE) There is a crucial need to collaborate and better understand how global issues and challenges are differentially experienced by schools in their region

References The Global Competitiveness Report © 2010 World Economic Forum Faisal Manzoor Arain1* and Syed Awais Ahmad Tipu2 – ‘Emerging trends in management education in international business schools’ - Educational Research and Review Vol. 2 (12), pp , December 2007 Arindam Banerjee Lecturer, United Institute of Management, Allahabad- ‘Impact of Globalization on Business and Management Education’, January 8, 2009 B.Bowonder, S L Rao, ‘Management Education in India, its evolution and some contemporary issues’ Elise S. Brezis, ‘Globalization and the Emergence of a Transnational Oligarchy‘ 1.Vipin Gupta, Grand Valley State University, Grand Rapids, USA, 2. Kamala Gollakota, University of South Dakota, Vermilion, USA, 3. Ancheri Sreekumar, DC School of Management and Technology, Kerala, India - ‘Quality in Business Education: A Study of the Indian Context’, January 2010 Global Management Education report - Financial Times Ltd Financial Times Ranking London Business School - Business Journal - Economic News & reports - Academic Journals -

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