Changes in Graduate Management Education and New Business School Strategies for the 21st Century

Abstract

We examine strategic options for business schools, noting that within the next 10–20 years, major changes in the demand and supply of education are likely. Management educators need to develop careful strategies that consider the drivers of change such as globalization, disruptive technologies, demographic shifts, and deregulation. We compare industry transformations in healthcare, financial services, and the airlines with the developing situation in management education; suggest changes to strategic elements of management education industry, such as its primary markets, products, and partnerships; and discuss the implications of such changes.