Center Faculty Director and Rammrath Chair in International Business Jonathan Doh co-authored an article that appeared in the Financial Times, September 23. In the article, entitled “Innovative Partnerships Could Transform Education,” Doh and his co-author, Guy Pfefferman,chief executive of the Global Business School Network and previous chief economist for the International Finance Corporation, argue business schools should export high-quality online courses to students in the developing world. Universities and business schools are being hit by a technological revolution that is wreaking havoc on their traditional business models and generating “creative destruction” of a magnitude that would have awed the economist Joseph Schumpeter himself. Online learning – and in particular Moocs (Massive open online courses) – as well as increasingly universal access to portable computers, tablets, smartphones and other communication media – are revolutionizing the industry. In a nutshell, clients (students and parents) now have low or no-cost alternatives to increasingly expensive universities.
The technological pressures facing universities are compounded by ageing infrastructure, a backlash over rising costs and in the case of US schools, competition from international universities. Business schools around the world are scrambling to figure out how to adjust to the brave new world. Most are gearing up to blend online materials into their courses; a growing number are producing 100 percent online courses. To read the entire article, please click here to visit the website.