The changing shape of business education provision - new report launched
In our new report published in partnership with CarringtonCrisp, we examine the changing landscape of business education provision, taking a close look at the activities of new market entrants and the disruptive influences potentially impacting the market over the next decade and beyond.
The research comprised two parts: the views from Deans and Senior Managers at our member business schools on growth opportunities and their plans for new products; and an overview of the new types of market entrants which include Further Education colleges, alternative providers, consulting firms, and online providers.
The results show that business schools are already taking steps to diversify their offer in response to the changing marketplace, with 89% already offering or planning to offer blended degrees. Furthermore, 73% are already offering or planning to offer online degrees other than an MBA.
Over the next ten years, digital/online provision was most frequently cited as a big opportunity for growth (59% of respondents) and apprenticeships were cited most frequently as being a growth opportunity at present (56% of respondents). 80% believed there was some likelihood that business schools will introduce new products to meet increasing demand for lifelong learning, and over two-thirds anticipated that online provision would replace some face-to-face degrees entirely.
The review of new market entrants reveals that business schools face an increasingly sophisticated and diverse set of competitors. FE colleges have become more active in the HE market and some now offer undergraduate degrees. Consulting and professional services firms are delivering business and management training - including to their own staff - using in-house experts and bespoke digital platforms. Online providers have a broad offer which uses flexible approaches to learning and is often much cheaper than traditional degrees.
This report will be useful in enabling business school leaders to ascertain the evolving competitive threats facing the sector and develop strategies to ensure their school can respond and embrace the opportunities for growth.
You can download the report here.