Universities in the United States have swept The Economist 2019 Top MBA Programmes rankings, claiming eight of the top 10 spots in the list.
Apart from the US, only one university each from France and Spain made it to the top 10. The top honours, per The Economist’s analysis, went to University of Chicago’s Booth School of Business.
An MBA from a top ranking business school has been for long considered the surefire path to success in the corporate world. Such top business schools command widespread respect in the job market around the world and their graduates are lured into high-paying premium jobs in some of the best corporations in the world.
But with changing times, the demands of both students and the organisations are changing as well. The Economist said students were now looking at programmes wherein classes reflected corporate purpose and values as well as their impact on society. On the other hand, employers were becoming keen on looking beyond management skills and wanted the courses to inculcate other skills such as coding, analytics and data.
A lot of this change in expectations is driven from the changing dynamics of a world being transformed by technology. As The World Economic Forum’s Future of Jobs Report explained, some roles might see more demand than others in the next five years. The report said, “Among the range of established roles that are set to experience increasing demand in the period up to 2022 are data analysts and scientists, software and applications developers, and ecommerce and social media specialists, roles that are significantly based on and enhanced by the use of technology. also expected to grow are roles that leverage distinctively ‘human’ skills, such as customer service workers, sales and marketing professionals, training and development, people and culture, and organizational development specialists as well as innovation managers.”
So while the rankings such as The Economist’s might still give clues to who is best in the business for now, the certainly cannot predict which of these varsities would still be at top five years from now.
What is certain, however, is the fact that institutions that make the requisite curricular and pedagogical changes by keeping in view the demands of an increasingly tech-driven world would be the ones students and employers would consider really sought after and “top MBA programmes”.