MBA schools of global repute are in an introspective mode these days in order to get a better perspective about their value propositions. While it would be unreasonable to deny that MBA education is still considered as a must-have in one’s professional repertoire, professors from respected business schools such as the Harvard Business School (HBS) have been stressing upon the need to undertake a dispassionate assessment of the MBA market place while evaluating its existing threats and opportunities MBA .
The onslaught of recent economic crisis has drastically changed the manner in which professionals look at MBA education in that the security associated with these degrees. For instance, MBA graduates are no longer being guaranteed exceedingly high paying jobs. In addition executives are also seriously evaluating the worthiness of sacrificing two years of lucrative professional career for enrolling in a business school.
It is against this backdrop that MBA schools are no longer averse to bringing about a paradigm shift. As an illustration, many employers are discouraging interested applicants to opt for full-time MBA degrees. Instead, executive MBA and even part-time MBA programs are being seen as justifiable substitutes for working professionals.
Another factor that merits unequivocal attention is about the value-addition of an MBA program. In fact, executives, deans and even students are taking cognizance of the fact that any form of education that does not inculcate creative thinking, leadership skills and an assimilative approach in students needs to be relooked and reviewed.
Experts also agree that MBA graduates need to imbibe a global mindset and develop a thorough understanding of the responsibilities and constraints associated with different business models. In addition, they also encourage business schools to find innovative ways of optimizing their existing resource such as faculty and alumni by engaging them in a mutually beneficial manner.