Development and Implication of Management Education
Keywords:Management, Education Institutions, External Environment, Competitiveness
The business and management education could play a pivotal role in social uplift and triggering the entrepreneurial spirit in a society. The business schools face several challenges in terms of imparting quality education. External environmental forces and stakeholders continuously put pressure on the business schools to adapt the changes happening in the business world. The rapid trend of globalization and technological changes have made difficult for organizations to survive in the competitive world . As a result the importance of management education has increased many folds. Business executives need to update their skills due to sudden changes in the external environment. In order to meet the challenges of the future, the reform of the higher education could be unavoidable. The Education Institutions need to strive to achieve balance between the education cost and the quality. One of the major criticisms of MBA schools is the gap between theory and practice. Rapid changes have been occurring in the management education and development area, fueled by the call for accountability, an increase in experiential techniques, the availability of educational technology, and recognition of the need for lifetime learning. This review recognizes some of these changes and trends and suggests implications for practitioners. Recent literature in the field is reviewed according to a three-part typology: content, experience, and assessment/feedback. Research gaps in the field are noted and implications for future researchers are discussed.