Business Schools are Shutting Down
Scanning the web, I ran across this article released with the headline ‘Why business schools are shutting down their MBA programs’.
The author shares the stats of well known schools one after another, seeing their enrollment rates falling at an alarming pace. Their plan of action…focus on their undergraduate business programs to lessen the impact of a failing MBA market.
The writer’s assessment of WHY this has occurred is an all too familiar blame game using incorrect judgment, which you can find in an abundance among those who are deeply entrenched in ‘Industrial Age Mindsets’.
The writer blames this problem on everything from a strong US economy, which is absurd, as that fuels even more desire to get your career positioned in a thriving marketplace!
He blames the rising cost of getting an MBA. MBA101…supply and demand! Lower the cost.
As he goes on to find more fault as why these programs are failing…he even blames Trump stating he, “scared off thousands of international candidates who had been helping to offset a continual decline.”
His whole assessment is ridiculous and a clear indicator of how the many in academia and the corporate world, like this writer, are still drinking the kool-aid it’s a “business as usual” economy.
Have they totally missed the rise of this new business era of DISRUPTION piercing every industry’s business model, systems, and processes when it comes to today’s business and consumers?
What is alarming is how many business educators are pretending as though they are dialed-in, in front of this new customer driven transactional frontier…selling their stale programs to unsuspecting students following the “accepted” career path the system peddles.
If they really knew the marketplace, they would stop blaming and realize they’re out of touch with their market as is clearly demonstrated by the writer of the article.
MBA’s are not esteemed as they once were quite simply because what their programs teach is antiquated and irrelevant information because today’s business sector no longer owns the marketplace! The customer does.
The simple fact is, these institutions are teaching students old business applications that no longer are relevant to today’s business.
Business know-how is now FLUID!
No textbook can capture it, no program can set it in stone any longer. So stop promising students they will be the elite, sought after, with skill-sets that will surely guarantee them a place at the table with a highly successful business career!
It’s time to stop leading students down a path that is becoming harder to navigate and distinguish. The MBA career opportunities are disappearing because business is no longer static, it’s no longer a science to be plotted and figured out.
Why? Because the customer is ever evolving. No longer manageable. No longer controlled with ‘herd mentality’.
You don’t need an MBA to see the writing on the wall.
Here is the article source: https://www.forbes.com/sites/poetsandquants/2019/05/26/why-business-schools-are-shutting-down-their-mba-programs/