FT Global Rankings: Expansionist Dreamers
The latest expansionist trend is to extend the traditional four-walled classroom overseas. Harvard Business School used to pride itself on its steadfast commitment to bring students to the school and NOT to bring the school to the students; even Harvard has succumbed in a limited way.
The mighty help support others to become mighty as well. In the 1950s Harvard helped the burgeoning IESE and INSEAD programs in Europe get started and succeed. Now top European b-schools are expanding off shore (like IESE to New York City) and helping new MBA programs grow in Asia and the Middle East. Even India (a country that generally beats its own drum in management education) has "signaled a green light to international business schools to enter the market."
Ajit Rangnekar, Indian School of Business Dean predicts the future of educational expansionism and the effects it may have on management education:
Global institutions from emerging markets, with an inherent cost advantage, will become more attractive destinations for management education, as well as a resource pool for management talent. There will also be a growth in demand for research on emerging markets, accompanied by a spurt in collaborations/partnerships among business schools globally.
The first part of Dean Rangnekar's prediction has already come true, as is evidenced by the boom in foreign student enrollment in China. The number of non-Chinese students at CEIBS in Shanghai, for example, has doubled in five years.
Even U.S. students are experiencing this blossoming "wanderlust" as they begin to look "beyond their home market to study for an MBA."
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