Published: November 7, 2019
The Reinvention of the MBA from The Economist
Following the release of their 2019 ranking of full-time MBA programs, The Economist took a closer look at the management education and business landscape. Overall, there are signs of a shift in the U.S. towards “new capitalism”—instead of just focusing on profits, young professionals are expected to look at the public good, and they desire workplaces that reflect their values and purpose. This evolution in consciousness impacts the responsibility of business schools, particularly MBA programs. As William Boulding, dean of the Duke Fuqua School of Business, told The Economist, “We need our students to be thoughtful about the role of business in society, particularly at a moment in time when capitalism is coming under attack.”
But social enterprise isn’t the only idea impacting business schools. In general, interest in U.S. MBA programs has decreased in recent years. According to the Graduate Management Admission Council (GMAC), American MBA programs received 7 percent fewer applications this year. And there are a number of reasons for this:
Read more