Despite current conversations threatening the fall of the MBA, Frank Ghannadian, dean of Sykes College of Business at the University of Tampa, explains that business schools are adapting, and the MBA is evolving to suit the needs of both learners and employers.
Frank Ghannadian: [00:16] Today there's a lot of talk about MS programs and master science programs and finance, entrepreneurship, accounting and business analytics are really flourishing. The MBA is still going to stay what it is. There's less enrollments in MBA program because of demographics.
[00:35] The MBA is going to transform itself as well. MBAs are going to be required to be able to do more business analytics and more problem solving for businesses. The MBA is not going away, but it's just going to be complemented with MS programs that universities and schools develop.
[00:52] Employers like those specialized master's programs, but the MBA gives a little bit more leverage for the students because students that graduate from the MBA program will have more flexibility in finding jobs. They're not pinpointed for a particular master's.
[01:07] For instance, if you have a Master of Science in finance, you're going to be getting a job in the finance industry. Things can change and you may want to move to another area, and an MBA will give you a little bit more flexibility in doing so.
[01:20] Business schools have become much more flexible than they were before. When we look at a school that's offering an MBA program, they probably have a flex MBA, they have full time MBA, a part time MBA, Executive MBA, MBA for professionals. Many schools are now having online MBA programs.
[01:37] All these different versions of the MBAs or master's programs are trying to capture the market because the workforce has changed, and the workforce needs have changed. Based on that, the schools are providing that service that students need.
[01:52] Online MBAs have picked up and quality online MBAs have increased. Basically, it serves a particular market. People these days don't have time to drive to campus, park their car, go to class from 6:00 to 10:00 anymore. Some people do, some people don't.
[02:11] By having that flexibility, the online MBAs are helping those that can't because of geographical factors or because of time factors, be able to get into higher education in business.
Filmed September 2019 at AACSB's Global Accreditation Conference in San Antonio, Texas, USA.