B-school will never look the same.听
In the years leading up to coronavirus outbreak, business schools faced their fair share of challenges.听MBA applications听were down听at many schools,鈥痑nd鈥痵ome questioned the value of two-year MBA programs鈥痶hat pulled people out of the workforce during a thriving economy.听听
Then the pandemic hit, causing the most dramatic disruption in the history of higher education. COVID-19 forced us to reassess the traditional听business听school experience. It turned our teaching model on听its听head,听revamped听curricula听and听challenged how we do admissions.听听
Some educators believe we are entering a decade-long remake of business education. If so, what will business school look like post-COVID-19?听听
Here are a few predictions.听
Course delivery will transform听
Virtual learning won鈥檛 take over听in-person classes听in most cases. But going forward, business schools have no choice but to embrace听remote听learning and offer more of it.听These adaptations will need to be made while predicting tuition revenues, which听is also more challenging. Unfortunately, this means that schools听that are听already struggling听financially听to survive听might not make it.听听
Instructors will听have to continue to听learn how to maximize the potential of new technology,听balancing听remote instruction with听in-person experiences.听Successful听faculty will develop engaging virtual classes with听synchronous activities that听activate听students鈥� critical thinking and analytical skills.听
Meanwhile,听we听will听need to听find new ways to help students reap the benefits of听a听traditional in-person听business听education鈥攂uilding听a听network, finding听a听job, connecting with听a听mentor and gaining funding for听a听startup. Accessing these elements of a business school education flexibly鈥攅ither in听person or virtually鈥攚ill become key.听听New technologies听that听are emerging will allow for more natural, unstilted interactions between instructors and students, potential employers and job seekers, and听classmates.听听
International students听will听decline听听
U.S. immigration policies听had听already听begun to curb听interest from international students before COVID-19, but now there鈥檚 the added risk of traveling and crossing borders. The听convergence听of听these听factors could change the makeup of future classes,听shifting them to听look more like听they did 20 years ago when there were fewer international students.听听
Despite current challenges, there is reason to听hope听that the development of an effective vaccine听and greater therapeutics can听together听help to听reverse this trend.听Additionally,听immigration policies may receive renewed attention in the wake of this year鈥檚听elections.听
Curricula will be听revamped听
Business schools are overhauling听curricula听and the student experience听to meet the demand for new insights and skills that the post-COVID-19听world will require.鈥�
Shortly after the听coronavirus reached the U.S., schools began launching courses, seminars and workshops听on leadership in a time of crisis鈥攅xploring risk management, what strong leadership in a pandemic looks like,听and whether conventional leadership approaches will work at a time like this.听
Students are showing fresh interest in economic sectors the coronavirus has impacted, such as life sciences and healthcare management. They want to know more about how vaccines are developed and brought to market, showing the same kind of excitement as in the past for financial derivatives.听听
Additionally, courses on supply chain management听are in greater demand,听with special interest in topics related to听reducing听the risk of disruption, managing听drug supply scarcity, diversify sourcing, and finding听an equilibrium between efficiency and resilience.听听
Future curricula will continue to focus on the wider societal demands on business such as climate change and diversity鈥攁 fundamental shift already underway but elevated by COVID-19.听
Admissions will meet challenges and opportunities听
A silver lining of the pandemic听may be the听opportunity听to rethink how we do things, and admissions is one of them.鈥�
University programs听had begun听to听reconsider听testing requirements in recent years, and the pandemic is accelerating听this trend. After testing centers shut down last spring, many graduate business programs waived the GMAT requirement and听plan to waive it听again next year. Meanwhile, more and more undergraduate business programs have made the SAT/ACT optional.听Time will tell if these changes become permanent.听
Also, for the next few years,听it will be听very difficult听to compare one student鈥檚 grades to another鈥檚, given the uneven response of schools to the pandemic, disparities in internet accessibility听needed for听remote learning, and shifts in familial responsibilities. We will need to come up with ways to consider an applicant鈥檚 grades in context and weigh them accordingly.听听
New areas of assessment will听begin to emerge. Soft skills听and attributes听including self-awareness, curiosity, diligence, social awareness, integrity and ethics are correlated with high engagement in college, which is a strong predictor of future career success.听Business schools will create new ways to measure these aptitudes and integrate them into the admissions process.听Tactics听might take the form of short online interviews, video prompts, or evaluation of samples of writing, music and art.听
As business schools听develop听students to become听resilient听leaders who can effectively manage change听during uncertain and unprecedented times,听we听need to听lead by example.听听
With听countless uncertainties before us,听the pandemic听provides an听opportunity听to reimagine听business education and make changes听to ensure that we are preparing our students to positively transform听the future of business.听