With constant improvements in current technology, the needs of students and businesses are changing significantly. For students to prepare to enter the workforce, their education needs to be dynamic, focusing on real-world situations and case studies so that each graduate is equipped with the necessary skills to react to a wide range of situations and challenges.

“As the world becomes even more interconnected, the role of business in society will become more complex and important for elevating positive social impact,” states Hanna McLeod, senior manager of research for AACSB International. “As business schools commit to serve as leaders, as well as partners for a lifetime of business knowledge creation, graduates are in the position now more than ever to do well by doing good.”

“...business schools need to partner with local businesses, industry leaders and other schools in order to stay well connected and relevant...”

Adapt and engage

“The Collective Vision” is an initiative of the Association to Advance Collegiate Schools of Business, outlining how and why business schools adapt to new generations of students and industry-wide developments. Introduced in April of this year, the initiative challenges business schools to be more daring and flexible in their curriculum, while looking at the crossroads of in-classroom discussions and real-world practice.

In order to provide more engaged studies, the initiative encourages business schools to collaborate with industries and society, outside academia, to provide context and experience to students. The global organization emphasizes that the tools and guidance delivered through their message extends to academic programs and institutions around the world, with of course adaptions to local context, location, mission and goals.

Preparation for the future

To continue drawing motivated employees and students, business schools need to partner with local businesses, industry leaders and other schools in order to stay well connected and relevant in both their communities and on a global scale.

“Business classrooms will increasingly attract more diverse demographics, based on age, experience, and goals, as business schools stake their position as hubs for continued and lifelong learning,” McLeod continues. “This may translate to learning experiences that more accurately reflect business-world realities, as well as new partnerships with industry, in order to achieve desired learning goals.”

Such connections may also serve as networking opportunities for students in various industries. Largely, business school graduates should leave campus with a confidence and understanding of the greater economic sector from experience.