1) How prepared are business schools today for unprecedented circumstances like the economic downturn?
The financial crisis was an inflection point in the evolution of management education. Not only has MBA education matured over the past 30 years, but also the crisis provoked important questions about how management education should be taught. It is clear that future leaders will deal with incredible complexity: the globalisation of economies, sophisticated financial markets, greater sensitivity to environmental issues, increasing cultural diversity, etc.
2) Which are the areas in the global education system that need immediate attention?
The key challenge is to educate students to be innovative problem-solvers who understand the impact of their actions on the broader society, including employees, customers, investors, partners and the surrounding community. We cannot provide crystal ball solutions to tomorrow’s problems because we cannot foresee all of them. But we can give students the knowledge and leadership frameworks through which they can carefully examine and address new problems as they arise – and, even better, to head them off. New leaders will also have to understand the context for global business. To this end, we require a global experience for graduation. This can be fulfilled in a variety of ways - including by a study trip, service learning trip or internship in a country the student has not lived or worked in before.
3) How can academic experts introduce innovation and advancement in educational courses in order to groom students to be well-rounded professionals?...