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Globalisation impacting Business Education

Business education is quickly becoming globalised following suit with the business world. The market for a business degree is huge, which adds to the importance of growing globalisation with so much money at stake. As business schools shift to sending students abroad and soon the rest of higher education will follow.

 

As these universities send students abroad there are two general systems that they are using. The first is setting up a new campus away from home. This is the more expensive option since it requires employing a whole teaching staff and the running of a separate school. The benefits are the ease in which students can accumulate credit at both locations, studying abroad for a single semester or divide their time however they want. The other option is for a university to partner with another school or study programs.

 

Admission offices are involved in the globalisation trend as well with a growing number of international students being accepted to the top American and European business schools. In 2008 international students made up 34 % enrolled in top American MBA programs and 85 % of the students enrolled in top European MBA programs.

 

This goes both ways with universities in Asia increasing the percentage of international students that they admit. As schools in the east grow and aspire to have Ivy League status part of the process is attracting more foreign students to their programs.

 

Globalisation has so many benefits as it continues to shrink the space between business schools around the world and bridges gaps. However, there are disadvantages to the sudden increase of this. Establishing the credibility of a program can be a challenge from a distance, especially when there are many programmes that will tell you anything to get your tuition payment. The added cost of studying abroad can be a real deterrent when combined with the already expensive cost of many MBA programs.

 

Although studying abroad does offer a unique experience to students, a concern is that it is missed on those students don't venture away from their secluded groups. The fear is that certain students connect with other students who are similar to them and in turn miss the opportunity to really experience the different aspects of a new country.

 

A result of this global trend is that America is losing its monopoly over providing business education to the world. Other European and Asian schools are growing in their influence and prospective students are willing to travel over oceans for the best opportunity.

 

For more information please visit The Economist

 

 

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