There are many business schools affiliated with the global universities which attract students, faculty members, and research scholars from across the world. Are they merely ‘cash-cows’ mining model or they have real meaning to the global community of students and educational experts? Let’s get a hang of this additional affiliation.
Business schools are often the institutions which are benefitted with public and private grants- a greater grant than the top universities in the world they are affiliated with. The relationship between the business schools and the best universities in the world have to be completely understood to be able to answer any issues related to them.
The most significant trends that are evident in their relationship is the international mobility and increase in the number of students. Considering that these business schools charge twice the fees than their local counterparts, the remunerative advantages these best universities in the world give students and experts is doubtful.
The stream of international students forms a revenue-generating system for the global universities. Apart from the fulfillment of the coffers, the other aspects are the satisfaction of the terms and conditions for maintaining a diverse force of students. The high-market growth on a local, as well as institutional level, is a given.
The top universities in the world see it a tool to accomplish the destination of diversification and expansion of the university future. The funds thus received helps to keep the cogs in the wheel running for other low-marginspecializations and low-demanddisciplines.The money is also drained into a large number of research initiatives which maintains the international reputation of the top universities in the world- an attribute necessary to keep them on the numerounoposition in the coming years. Last, but not the least is the fortification of the curriculum of business post-graduate programs, giving teaching incumbencies to the global experts, and pedagogical practices.
Seeing it from the perspectives of students, they get to experience the student lifestyle on the best campus available with the stamping of an authority on the certifications they receive after they pass out. An international brand culminates in the acquisition of excellent placements in the multinational companies at respectable positions and the promotions and appraisals are expected to be leak-proof, for sure.
What do the academic traditionalists say about business schools raking in such prodigious fees from students? These days, understanding business practices have become more important than theories and scientific discoveries that is a bottleneck, which these traditionalists, are opposed too. Whatever the case may be business research isn’t as impactful and transformational like medical or sciences research that has the capability to change the lives of many.
A focus reorientation can be beneficial for both- the globally reputed universities and the business schools. It’s good that business schools are concentrating hard on the development of academic aspects, but leaving research aspect aside will be detrimental to their reputation in the long run.