Why Business Schools Need Radical Innovations: Drivers and Development Trajectories

• Published in: Journal of marketing education Vol. 42; no. 2; pp. 93 - 107
• Main Author: Schlegelmilch, Bodo B.
• Format: Journal Article
• Language: English
• Published: Los Angeles, CA SAGE Publications 01-08-2020; SAGE PUBLICATIONS, INC
• Subjects: Artificial Intelligence; Business Administration Education; Business education; Business Schools; Competition; Computer Assisted Instruction; Corporations; Courseware; Educational Change; Educational Innovation; Educational Resources; Educational Trends; Foreign Countries; Guidelines; Information Technology; Institutional Characteristics; Masters Programs; MBA programs & graduates; Online Courses; Political Influences; Relevance (Education); Reputation; Strategic Planning; Sustainability; Teaching Methods; Technological Advancement; Trend Analysis; Asia; United States; Europe; business education; digitalization; new business models; lifelong learning; business schools
• ISSN: 0273-4753; 1552-6550
• DOI: 10.1177/0273475320922285

Business education is undergoing paradigmatic changes, and business schools are feeling the brunt of these changes. This article proposes that “business as usual” is over for traditional business schools. Using Ohmae’s 3Cs—customers, competitors, and company—as an analytical framework, I examine important changes from different vantage points. From the perspective of customers, the focus lies on technological and value changes. In terms of competitors, the analysis centers on the growing number of alternative suppliers of business education and the geographic shifts in the business school landscape. As to the company dimension, I comment on the vast number and heterogeneity of business schools and suggest that they are heading toward a business model competition. In considering potential development paths for business schools, the article concludes that they require radical innovations to stay relevant.