Business Schools on the Threshold of Unprecedented Change Due to Globalization

TAMPA, Fla. - Thursday, February 10th 2011 [ME NewsWire]
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(BUSINESS WIRE)-- Rarely, if ever, have business schools experienced change as far-reaching and powerful as the current wave of globalization. The need for business schools to understand these changes and respond accordingly is the core tenet of a groundbreaking report—The Globalization of Management Education: Changing International Structures, Adaptive Strategies, and the Impact on Institutions—released today by AACSB International.

In this comprehensive report, the AACSB Globalization of Management Education Task Force asserts that rising expectations from business and society for graduates with global competencies, coupled with the increasing complexity and global connectedness of higher education, command the attention of business schools around the world. The report’s findings draw upon results from a survey of AACSB member schools’ collaborative agreements, a survey of academic thought leaders regarding global content in curricula, and a series of case studies.

Connecting insights from this research with information gleaned through a comprehensive review of existing literature and current events, the Task Force presents a data-driven analysis of the global nature of management education. According to the Task Force, business schools have just begun to experience the wide range of implications of globalization, and to realize the full potential of the opportunities presented.

“The imperative for change is clear. We are at a critical inflection point, and now is the time for all business schools to respond,” said Task Force chair Bob Bruner, dean and Charles C. Abbott Professor of Business Administration at the University of Virginia’s Darden Graduate School of Business. “Schools must develop approaches that will positively impact globalization within the business community and broader society.”

But the Task Force goes beyond simply calling schools to attention. The report presents insights that will help guide individual school strategy development and implementation. Focusing on approaches that include curriculum design, faculty development, and the cultivation of strategic partnerships, the Task Force challenges all business schools to embrace globalization in ways that are mission-appropriate, manageable given available resources, and meaningful to the stakeholders being served.

The report also considers the role of industry-wide initiatives that will move business schools from keeping pace with the sweeping changes of globalization to leading the way. “This definitive report reveals important implications for cross-border alliances, information sharing and benchmarking, and global quality assurance,” said John J. Fernandes, president and chief executive officer of AACSB International. “The Task Force shows that through collaborations with one another and organizations like AACSB, business schools can accelerate and improve globalization.”

A complimentaryelectronic copy of The Globalization of Management Education: Changing International Structures, Adaptive Strategies, and the Impact on Institutions is available to AACSB member schools and media, and an electronic or hard copy is available for purchase by the general public. Please visit the AACSB Globalization of Management Education Resource Centerfor more information.

About AACSB International

AACSB International (The Association to Advance Collegiate Schools of Business), founded in 1916, is an association of more than 1,200 educational institutions, businesses and other organizations in 78 countries. AACSB’s mission is to advance quality management education worldwide through accreditation, thought leadership, and value-added services. As the premier accrediting body for institutions offering undergraduate, master’s, and doctorate degrees in business and accounting, the association also conducts a wide array of conferences and seminar programs at locations throughout the world. AACSB’s global headquarters is located in Tampa, Florida, USA and its Asia headquarters is located in Singapore. For more information, please visit www.aacsb.edu.
Contacts

AACSB International

Amy Ponzillo, +1-813-367-5207

Manager, Public Relations

mediarelations@aacsb.edu