Need and Challenges for Business Schools
There is a unique position of business schools in management education marketplace
And their role as research institutions is important. The innovative and new knowledge developed through the creativity, research and developed efforts of business school faculty shapes the intellectual content of business curriculum in degree and non-degree education and thus enhances effective business practices. This unique role is however threatened by the turbulence in marketplace in which business schools have to operate.
The marketplace for business schools today is characterized by continuous and relentless change. Among the main reasons for this instability are Increasing competition from non accredited schools and globalization of the business education market.
Management education is undoubtedly at risk and there is a great need for industry wide leadership that can position business schools to respond to emerging challenges to account for changing priorities in our lives at almost every level.
Thus, it becomes evident that there are a lot of challenges in front of business schools promising to provide effective management education to the aspiring managers. Thee challenges include accounting for changing global business market place, as we know that the business has gone global and management education needs to find was to account for such limitless potential in modern business arena.
Besides that, there are lots of diversifications among the participants in the business such as different countries, regions, cultures etc. These things needed to be accounted for while trying to establish a business in such diversified business arena.
Some other challenges in front of management education in today’s time include shortage of resources with people. These resources include such As time, money and personal and professional obligations that one needs to pay attention to in order to live a balanced life. This is again a part of management and in fact a big one.
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