Ever since the end of the 19th century, when the MBA degree was just established, it has never stood still. The ever-changing demands of employers, the needs of students and the revolutionary changes that occur due to the emergence of new technologies force the best business schools to change the content of the programs, teaching methods and even the places where this training takes place.
Alternative sources of funding for MBA studies
A study conducted by the best specialists of cheap essay writing service 24/7 https://essaypay.com/essay-writing-service/ in 2020 showed that 29% of respondents received some form of corporate training assistance. However, in 2021, these figures fell by as much as 21%. In recent years, new sources of financing have been gaining popularity and development, such as crowdfunding and social loans. In 2022-2023, these types of loans promise to become fashionable.
Crowdfunding is a form of loan in which students borrow funds from investors interested in supporting MBA students. There are several such funds, for example, Prodigy Finance and SoFi. Currently, the Prodigy Foundation provides loans to MBA students in 18 AMBA-accredited business schools, and this is not the limit. Investors (usually business school graduates) invest in one specific group of students. Prodigy takes little into account the credit history of the borrower - this fund uses a predictive model that calculates the potential future income of students. At the same time, the SoFi (Social Finance) social loan fund only provides loans to students who have a job. Although not a perfect system, it is an excellent fit for those wishing to study in the EMBA correspondence programs.
A wide range of specializations
MBA specializations, very popular 10 years ago, are now regaining their positions. However, their composition has changed. Once they were associated exclusively with certain MBA specialties - finance, marketing, strategy, technology - most of which are popular today. But now there are many new specializations - aviation, education, energy and many others. However, while employers are now looking for more specialized employees, students want more choice of specializations. According to recruiters of large companies, HR management, project management and marketing will be popular among MBA specializations. Another specialization that is gaining popularity all over the world is logistics management. Such data is explained by the fact that by 2025 logistics will become 26% more popular.
The MBA program in Entrepreneurship is becoming increasingly popular both among students who want to become businessmen and among employers. In many leading business schools - among them the London Business School and the HEC school (Paris) - more and more students are choosing this particular specialty. At one time, large companies were reluctant to hire entrepreneurial MBA graduates because there were fears that these new employees would not last long in the workplace and go “free swimming”. However, large firms are now increasingly acknowledging this innovation and welcoming employees with entrepreneurial leanings as it increases the company's competitiveness.
Business schools have become accustomed to the fact that changes in the global economy lead to changes in the curriculum and teaching methods. Changes in the composition of the main subjects are designed to meet new trends and strengthen the role of business schools in education. Among the most significant changes in the programs are an in-depth study of leadership, entrepreneurship, a wide range of elective courses. In addition, it is expected to expand the role of corporate and social responsibility in each module, the study of the analysis of various points of view, work with large data sets, global and multicultural communication, as well as the already mentioned entrepreneurship.
Flexibility in learning
Advances in technology, as well as the need for more flexible learning systems for students, mean more innovation in the teaching of MBA programs. Numerous points of entry into the training program, provided throughout the year, are becoming increasingly popular. In addition, blended programs are being created that include the best of online learning and classical teaching, student interaction systems, team assignments and field trips. Students will have more opportunity to study on their own schedule - this is necessary to maintain a balance between work, personal life and study. It will be possible to speed up the learning process in order to become a graduate earlier. Teaching in different parts of the world will become more and more accessible - after all, employers now need employees who can work at the world level, press for more info. Now EMBA programs are increasingly taught by joining students to full-time MBA programs in different countries. So, for example, MBA students at the University of Mannheim can take modules not only in Germany, but also in the UK, Spain, France, China and India.