Over the last decade, the world has witnessed many economic developments that have directly impacted businesses. In the coming years, companies will become even more reliant on technology. They will need to function under extremely volatile and complex situations. Therefore, another transformation is on the horizon.

Hence, educational institutes will have to change to adapt to the altering demands of the marketplace.

Let us look at eight aspects that will heavily influence the B-School curriculum in the light of these changes:

1. Interactive and Immersive Pedagogy

Management education still relies on textbooks and e-learning resources. However, B-Schools will soon need to introduce an interactive and immersive curriculum. This new style of learning with the help of tools like Virtual Reality, Augmented Reality and Mixed Reality, will allow students to cross conceptual and theoretical boundaries. Such methods of learning will encourage students to move beyond passive learning.

Immersive and interactive education will foster self-learning and allow students to learn by doing.

2. Blended Learning

The technological revolution of the 21st century has led students to grow up in a society where technology is readily available and affordable. Incorporating technology into learning models results in hybrid programmes with both in-class and online lectures.

Such programmes make education convenient and flexible; allowing people from different walks of life to gain management education when and where they need it.

3. Experiential Learning And Applied Research

Experiential learning is designed to help students acquire knowledge, skills, and values with the help of experiences as opposed to in-class lectures. Various activities such as internships, applied research, live projects, study abroad programmes, and other creative experiences are a part of this learning method.

Experiential learning will also encourage skills like critical thinking, cultural awareness, leadership, and other professional skills

4. More Inclusive Collaboration With Corporates

Management institutions must design a curriculum that allows for industry collaborations that can help students become job-ready. The future will consist of organizations that will play an active role in designing the curriculum, providing on-the-job training, asking students to present their business ideas, do regular faculty immersion programs to enable them to build the currency of practice.

5. Creation Of An Entrepreneurial Ecosystem 

Placements play a significant role when it comes to students choosing their ideal business school. While placements alone have been satisfying the masses so far, that will soon change. The newer generation of management students is more inclined towards being entrepreneurs.

Therefore, management establishments will need to start creating the right ecosystem for students with entrepreneurial dreams, along with those looking to work with other organizations. This entrepreneurship ecosystem will most likely consist of:

• Extensive networks with startups, investors, organizations
• Intensive coursework with a focus on entrepreneurship
• Training with regards to creating a business model and pitch

6. Flexible Curriculum Personalized To Student Interests

While niche programmes and specializations are slowly entering mainstream MBA education, there is still a long way to go. Student expectations and industry requirements are evolving; necessitating a future of customized curriculum. An adaptable curriculum allows students to design their semesters based on their interests and goals.

The freedom to choose their subjects will open the door to developing in-depth knowledge in a particular field at a time, place and pace of the learner’s choice

7. Internationalization And Building Globally Relevant Understanding

It is common for businesses to carry out transactions around the globe. Therefore, business schools must churn out students who have an understanding of global trade, economy, and culture. Global exposure within the safe ecosystem of a B-school will allow students to build the much needed global understanding.

Business schools can prepare global managers by developing an immersive curriculum that encourages global industry visits, collaborations, internships, student exchange programmes, and more.

8. Building Socially And Environmentally Responsible Leaders

The demand for sustainability, environmental and social accountability and ethical practices among management graduates is growing. Today, leaders are expected to make a difference in the world. Accordingly, business programmes must start to focus on creating leaders who are ethical along with being environment and community conscious.

The Bottom Line

To conclude, ten years from now, business schools will need to shoulder greater responsibilities than they do today. Those who can successfully incorporate such changes will remain in the reckoning, while the rest will turn obsolete along with old academic approaches.  The rate of change is fantastic, and only those, agile enough to adapt and move forward at a lightning pace will even have a chance of survival.