After years of upheavals, future business leaders are required to navigate the political turmoil 

From climate change issues to vaccine nationalism and the competition between the US and China, international political tensions are escalating, affecting global businesses’ operations. Seeing the global enterprises walking a geopolitical tightrope, business schools are evolving to provide students with a curriculum in which they can learn how to manage the threat by linking the public and private sectors as well as politics. 

Mike Rosenberg, from IESE Business School in Barcelona, mentions, “We are living at an incredibly interesting time in human history, and I think our job as educators is to prepare our students for that”. He adds, “What I try to teach them is to understand the complexity of the current situation and how things can be both better and worse at the same time.” 

What Rosenberg aims in teaching geopolitics is to provide students with a broad understanding of geopolitical history. In the elective courses, which comprise 40 percent of the MBA classes at IESE, Rosenberg encourages students to add their varying perspectives to the course since they all come from 60 different backgrounds. 

“This is very powerful, especially when dealing with issues like the partition of India, the abuses of the military juntas in Latin America, or the situation in Israel and Palestine,” he says. 

On the other hand, Rosenberg admits that the conflicts between students cannot be avoided in the geopolitical discussion and therefore sometimes he needs to step into it and let those having different perspectives raise their voices. Rosenberg also notes that a central part of the MBA programs is to make this balance and that students are satisfied with these classes despite the classroom conflicts since they allow them to hear peers’ opinions.

How can students accurately measure global uncertainty? 

Among other universities across the globe, since 2007, Grenoble Ecole de Management in France has been a leading institution in combining geopolitics with its traditional MBA curriculum. “Students need to be able to assess geopolitical risks,” says Phil Eyre, the MBA program director at Grenoble. “MBA programs, therefore, need to offer core modules in risk management, geopolitics, macroeconomics, [alongside] well-established subjects such as accounting, finance, microeconomics, and people management.” 

Eyre underlines that business schools do not need to be rethought despite the current volatility, but it does have to evolve. Also, traditional managerial skills remain an important requirement for both future leaders and corporates even in an era of unprecedented geopolitical volatility. 

Nevertheless, Eyre agrees that the shift in global risks is promoting adjustments in MBA students so that they are ready to navigate the relationship between geopolitical threats and economic prospects. “Employers are aware that a non-native student completing an MBA in France has by definition a strong international profile, is multilingual, and is at ease when operating in a turbulent, multicultural environment,” he says. “MBA [graduates] are expected to make the link between macroeconomics, geopolitics, corporate strategy and competitiveness.” 

Aligned with IESE, the MBA students at Grenoble are also encouraged to share their viewpoints in the interactive peer discussions, delivering presentations and giving feedback to one another. 

“Students are required to argue and to justify their views rationally and not simply state an ideological position,” says Eyre. “Students expect to witness disagreements in the classroom, that is part of the learning process. The art of teaching geopolitics is ensuring the conflict remains intellectual, and does not turn into a hot-blooded confrontation.” 

Struggling with global issues from the climate crisis and global health security 

Mari Sako, professor of management studies at the University of Oxford’s Saïd Business School in the UK, addresses the need to equip students with the capability to influence the global rules of the game around systemic challenges has been heightened. Sako underlines that future leaders should be able to manage global issues such as climate change, sustainability, global health, international migration, and human rights, saying “This involves analyzing the non-market environment, including geopolitical risks, and developing and implementing a corporate diplomacy plan, with skills and expertise in framing the issue, influencing, and coalition-building”. 

“The politics of global business has always been important, but it’s more so today when the world is getting less flat, with neo-nationalism and protectionism in a multi-polar world,” Sako notes that the global enterprises will require more future leaders with the capability of navigating the link between the public and private and that subsequently, students’ interest in this skill is increasing. 

Eyre at IESE says that current upheavals are a good learning opportunity in a way for MBA students: “In the coming year, we expect to discuss the geopolitics of vaccination, global warming, and sustainable production.” 

Read more: Should you consider an online MBA program?

MBA students pursuing cannabis career, a blemish choice or an astute action?  

Cannabis is a controversial topic. It is undeniable that it’s a growing market in the US, sparking a job called pot entrepreneur. A survey conducted by New Frontier Data, a cannabis business intelligence organization, shows that the legal cannabis market recorded 20 billion dollars in sales in 2021 and is expected to rise to $41.5 billion in 2025. 

The sale of cannabis is federally illegal in the US but 16 individual states have declared legalization of recreational marijuana, including major regions like New York and California. The effect of the legalization is substantial, creating a significant amount of tax revenue and contributing to the financial stabilization of the state. 

Marijuana is at the center of the attention of organizations and governments to utilize the legalization of marijuana in their favor and interest. Also, it is receiving interest from MBA students and management professors. A small, but notable, few individuals in the business school hold the ambition to deliver marijuana into the agenda for business school. 

MBA graduate of UC Berkeley’s Haas School of Business from the Class of 2021, Nick Bellamy, was one of those students who showed immense interest in the market of marijuana. His initial interest began when he witnessed the positive side of the use of marijuana for his grandfather’s cancer treatment. Nick said “Marijuana helped him greatly. This made me wonder why marijuana isn’t commonly used in our society.” 

It didn’t take too long for Nick to be heavily into the marijuana industry and acknowledge its potential to grow. This led to his decision to apply for Berkeley’s business school in 2019 because of their liberal reputation and knowing he’ll acquire crucial knowledge to start his business career in the cannabis industry. “Entering the cannabis industry is an abnormal career path and its uniqueness attracted me,” says Nick. 

Other business schools weren’t too fond of his idea with concerns. He received some concerns about the potential stigma it could create on him in the field of business and that it would place negative values on his career. He is not the only one, but one of the few growing members of MBA students that are continuing their career path in the marijuana industry in the US, which is at the borderline of legal. 

Reformation and perceptions around Cannabis  

The movement behind cannabis and the linkage to the business school is driven by their students. This is achieved through the establishment of cannabis industry clubs across business schools in the US, where it resides in states with legalized marijuana. Notable schools include NYU’s Stern School in New York and Stanford’s Graduate School of Business in California. 

Peter Kasper, an MBA graduate at USC Marshall in 2021, was the founder and the president of the Marshall Cannabis Industry Club beginning in 2019 till 2021. “I believe schools are missing out on an obvious chance. It is a great opportunity to reveal to students who should recognize the growing industry with the help of the school”, he says. 

“Schools need to express that they are showing interest in what students are demanding and utilizing their resources to match those demands,” Kasper explains. Agendas were pushed and delivered to the USC, where they were able to adhere to the genuine requests and passion from the students with career paths and wanting a functioning alumni network. Kasper explains the meaningful impact that the organizations can create with their influence on this growing industry. 

While the student’s engagement keeps the movement alive, professors are showing their part to contribute to this trend. Scott Stern from MIT’s Sloan School of Management has included cannabis in his curriculum. Those studies are on the distribution of cannabis and Mary Gentile from Virginia’s Darden School of Business where she comprised a case of taxes and business regarding cannabis into her syllabus. 

However, the perception of the cannabis industry by the current population is still negative and the movement to include the study of the cannabis industry in college is still met with challenges. Cannabis is a stigma in the present MBA syllabus with rarity due to its characteristics. Bellamy explains “No matter what I do, I could be labeled as a pothead regardless of my actions. It’s an image and a perception that is formed over decades even though there are things out there like alcohol and cigarettes which outputs more negative results than cannabis.” 

“Cannabis Dream” for post-MBA graduates 

Cannabis is a nascent industry for MBA graduates. Last year, Kasper launched Terpil, which targets cannabis consumers by providing a product recommendations platform. He believes that the career paths in the current cannabis industry are substantial. With its nascent nature and the rapid growth in the market, there are vacant opportunities for everyone. “Just like every other company, cannabis companies require people in all sectors like operation, law, sales, marketing, and finance. You will always find a role and if it’s not there, it will be created.”, says Kasper. 

The market is expanding with numerous startup companies. Bellamy is a cannabis investor at Entourage Effect Capital. He highlights the demand for MBA talents in the market and that the industry requires more skilled and talented individuals to join the industry. He states, “It’s a great opportunity if you’re a graduating from MBA and looking for an opportunity.” 

Sara Gluck is a graduate from UVA Darden School of Business with experience in the cannabis industry like America Israel Cannabis Association, which is her own business. She warns about entering the industry with its unique characteristics that are unlike other markets. Intolerance of financial services from the bank and practically forbidden to pursue online markets due to its illegal nature at the federal level make it so difficult to start a successful cannabis business. 

“Succeeding in the cannabis market requires you to acquire multiple elements. That includes a willingness to learn and have endurance.”, says Gluck. However, because of the volatile state of the cannabis market, she expects many career opportunities to surge in areas of operating logistics and marketing. A monopoly is near impossible and there are always opportunities to expand. 

The agenda to legalize marijuana is seen as an urgent agenda to fight racial injustice due to its disproportionate arrests of African American and Hispanic users compared to white users.  Another challenge is the underrepresentation of racial minorities in the industry. Gluck claims that one of the difficulties of the industry is from the lack of racial minorities. He quoted that the “War on Drugs and the hurdles to enter the market in the legalized states is creating shortage and underrepresentation of people of color.”. 

Read more: Could MBA Students Manage Global Chaos?

MBA students pursuing cannabis career, a blemish choice or an astute action?  

Cannabis is a controversial topic. It is undeniable that it’s a growing market in the US, sparking a job called pot entrepreneur. A survey conducted by New Frontier Data, a cannabis business intelligence organization, shows that the legal cannabis market recorded 20 billion dollars in sales in 2021 and is expected to rise to $41.5 billion in 2025. 

The sale of cannabis is federally illegal in the US but 16 individual states have declared legalization of recreational marijuana, including major regions like New York and California. The effect of the legalization is substantial, creating a significant amount of tax revenue and contributing to the financial stabilization of the state. 

Marijuana is at the center of the attention of organizations and governments to utilize the legalization of marijuana in their favor and interest. Also, it is receiving interest from MBA students and management professors. A small, but notable, few individuals in the business school hold the ambition to deliver marijuana into the agenda for business school. 

MBA graduate of UC Berkeley’s Haas School of Business from the Class of 2021, Nick Bellamy, was one of those students who showed immense interest in the market of marijuana. His initial interest began when he witnessed the positive side of the use of marijuana for his grandfather’s cancer treatment. Nick said “Marijuana helped him greatly. This made me wonder why marijuana isn’t commonly used in our society.” 

It didn’t take too long for Nick to be heavily into the marijuana industry and acknowledge its potential to grow. This led to his decision to apply for Berkeley’s business school in 2019 because of their liberal reputation and knowing he’ll acquire crucial knowledge to start his business career in the cannabis industry. “Entering the cannabis industry is an abnormal career path and its uniqueness attracted me,” says Nick. 

Other business schools weren’t too fond of his idea with concerns. He received some concerns about the potential stigma it could create on him in the field of business and that it would place negative values on his career. He is not the only one, but one of the few growing members of MBA students that are continuing their career path in the marijuana industry in the US, which is at the borderline of legal. 

Reformation and perceptions around Cannabis  

The movement behind cannabis and the linkage to the business school is driven by their students. This is achieved through the establishment of cannabis industry clubs across business schools in the US, where it resides in states with legalized marijuana. Notable schools include NYU’s Stern School in New York and Stanford’s Graduate School of Business in California. 

Peter Kasper, an MBA graduate at USC Marshall in 2021, was the founder and the president of the Marshall Cannabis Industry Club beginning in 2019 till 2021. “I believe schools are missing out on an obvious chance. It is a great opportunity to reveal to students who should recognize the growing industry with the help of the school”, he says. 

“Schools need to express that they are showing interest in what students are demanding and utilizing their resources to match those demands,” Kasper explains. Agendas were pushed and delivered to the USC, where they were able to adhere to the genuine requests and passion from the students with career paths and wanting a functioning alumni network. Kasper explains the meaningful impact that the organizations can create with their influence on this growing industry. 

While the student’s engagement keeps the movement alive, professors are showing their part to contribute to this trend. Scott Stern from MIT’s Sloan School of Management has included cannabis in his curriculum. Those studies are on the distribution of cannabis and Mary Gentile from Virginia’s Darden School of Business where she comprised a case of taxes and business regarding cannabis into her syllabus. 

However, the perception of the cannabis industry by the current population is still negative and the movement to include the study of the cannabis industry in college is still met with challenges. Cannabis is a stigma in the present MBA syllabus with rarity due to its characteristics. Bellamy explains “No matter what I do, I could be labeled as a pothead regardless of my actions. It’s an image and a perception that is formed over decades even though there are things out there like alcohol and cigarettes which outputs more negative results than cannabis.” 

“Cannabis Dream” for post-MBA graduates 

Cannabis is a nascent industry for MBA graduates. Last year, Kasper launched Terpil, which targets cannabis consumers by providing a product recommendations platform. He believes that the career paths in the current cannabis industry are substantial. With its nascent nature and the rapid growth in the market, there are vacant opportunities for everyone. “Just like every other company, cannabis companies require people in all sectors like operation, law, sales, marketing, and finance. You will always find a role and if it’s not there, it will be created.”, says Kasper. 

The market is expanding with numerous startup companies. Bellamy is a cannabis investor at Entourage Effect Capital. He highlights the demand for MBA talents in the market and that the industry requires more skilled and talented individuals to join the industry. He states, “It’s a great opportunity if you’re a graduating from MBA and looking for an opportunity.” 

Sara Gluck is a graduate from UVA Darden School of Business with experience in the cannabis industry like America Israel Cannabis Association, which is her own business. She warns about entering the industry with its unique characteristics that are unlike other markets. Intolerance of financial services from the bank and practically forbidden to pursue online markets due to its illegal nature at the federal level make it so difficult to start a successful cannabis business. 

“Succeeding in the cannabis market requires you to acquire multiple elements. That includes a willingness to learn and have endurance.”, says Gluck. However, because of the volatile state of the cannabis market, she expects many career opportunities to surge in areas of operating logistics and marketing. A monopoly is near impossible and there are always opportunities to expand. 

The agenda to legalize marijuana is seen as an urgent agenda to fight racial injustice due to its disproportionate arrests of African American and Hispanic users compared to white users.  Another challenge is the underrepresentation of racial minorities in the industry. Gluck claims that one of the difficulties of the industry is from the lack of racial minorities. He quoted that the “War on Drugs and the hurdles to enter the market in the legalized states is creating shortage and underrepresentation of people of color.”. 

Read more: Could MBA Students Manage Global Chaos?

With the increase of female applicants for MBAs but the acceptance rate of female applicants decreasing, it is raising worries of diminishing gender parity

Gender Equality has always been an issue in the United States. Since COVID-19 led to a severe recession, business schools have received increased applications from executives who have plenty of time due to the lack of business during the pandemic.

It is reported that applications for MBAs from women decreased when compared to that from men, and it has raised concerns that the pandemic is making progress on gender balance at business schools. Due to this proven statistic, universities have been criticized for rolling back years of progress towards gender equality in MBA programs.

According to Forté Foundation, a nonprofit focused on gender equality in business and education, gender equality for MBAs has already taken a huge step back. Forté noted that although demand for business management qualifications has grown, the percentage of women enrolled in MBAs at its member schools was the same as that of 2019.

In 2020, half of the member schools had 40 percent of women enrolled in their MBA programs. This proportion of women’s enrolment is comparable to that of in 2001 when the organization was established. At the inauguration of the organization, the proportion of women at business schools in the U.S. was fewer than 28 percent.

Elissa Sangster, CEO of Forté, says that women are generally more reluctant than men to invest in an MBA, and their financial commitment to enroll in an MBA can be more challenging. Sangster adds, “They face the double whammy of typically earning less than men and also holding more student loan debt. Women were disproportionately impacted by the pandemic, so some of these obstacles were exacerbated.”

Sangster emphasizes how important it is to maintain the increased women’s enrollment because of the struggles faced by women in the pandemic recession such as increased domestic burden and significantly high job losses. Sangster also suggests that an MBA degree can help women break down barriers that traditionally can stand in their way, mentioning that only six percent of S&P 500 CEOs are women but nearly 40 percent of them hold an MBA.

“A great deal of research over many years has clearly shown that having a more diverse leadership team contributes to better financial performance, which is needed more than ever now,” Sangster adds.

Some women are reconsidering applying to business school

According to the Graduate Management Admission Council, the exam board for the GMAT exam, the pandemic had an immediate effect on women’s decision of applying to MBAs. In April 2020, more than half of women were worried about the pandemic’s impact on their pursuit of a business MA degree whereas only 37 percent of men did so. Only a month before, at the onset of the pandemic, the proportion between women and men did not show any significant difference.

This raises concerns that it can cause a ripple effect among the prospective applicants. Paula Amorim, MBA admissions director for IESE Business School in Spain, says. “Applicants tend to be naturally drawn towards schools where they can see themselves represented in the class. If the numbers of women studying at business schools deaccelerate, this might affect the motivation of future applicants, causing us to lose momentum in our efforts towards gender balance.”

According to Amorim, it is too early to predict the enrolments for the following year, but the school expects it to be more difficult to recruit women this year. For IESE’s current course, which opened in the autumn of 2020, the proportion of women was the same as the preceding year, with 32 percent of enrolled women.

Amorim agrees that the COVID-19 caused the decrease in women’s enrollment in MBA programs, saying, “Women, in general, maybe more stable on their decisions, making them less anti-cyclical than men”. Despite the increased interest in MBA programs, demand for women is after all being out weighted by stronger demand from men.

Amorim underlines the importance of the school’s role in maintaining the proportion of women and women enrolling in MBA courses. This action can be the targeted scholarships to incentivize enrollment of women or the focused initiatives to recruit women that were not previously considering an MBA. Amorim mentions, for example, “by getting alumnae to inspire women in their network and open their eyes to all the advantages of getting a graduate degree.”

At Georgetown University’s McDonough School of Business in Washington DC, the number of women in the MBA has also remained the same during the pandemic, with 32 percent.

Shelly Heinrich, associate dean for MBA admissions at Georgetown, also highlights the role of schools. Heinrich suggests that the schools need to, for example, dispel the myths of the stereotyped business school candidate. “The career options that come out of an MBA are so much more diverse than just typical male-dominated industries like finance and technology. MBAs also pursue jobs in nonprofit and social impact, consumer products, luxury goods, media, and entertainment.”  

Another myth about business school that should be debunked is that students cannot pursue a degree and family plan at the same time. “It is possible,” says Heinrich. “I had a four-year-old when I entered my Executive MBA program and was still able to balance work, life, and family. You certainly need a support network to do it. But women need role models.”

Virginie Fougea, global director of admissions, financial aid, and scholarships at INSEAD, stays optimistic about the numbers of women at business schools in the following years. Despite a slight decrease in women’s MBA enrollment this year, Fougea found that more women are taking the GMAT and that the GRE is also showing strong results with close to half of exam takers being women.

“Looking at the current applicant pool, we see a 6 percent increase from female applicants. We do not know how many women will be admitted yet, but we are very pleased with this current trend”.

Read more: MBA Students wanting to become a Pot Entrepreneur 

With the increase of female applicants for MBAs but the acceptance rate of female applicants decreasing, it is raising worries of diminishing gender parity

Gender Equality has always been an issue in the United States. Since COVID-19 led to a severe recession, business schools have received increased applications from executives who have plenty of time due to the lack of business during the pandemic.

It is reported that applications for MBAs from women decreased when compared to that from men, and it has raised concerns that the pandemic is making progress on gender balance at business schools. Due to this proven statistic, universities have been criticized for rolling back years of progress towards gender equality in MBA programs.

According to Forté Foundation, a nonprofit focused on gender equality in business and education, gender equality for MBAs has already taken a huge step back. Forté noted that although demand for business management qualifications has grown, the percentage of women enrolled in MBAs at its member schools was the same as that of 2019.

In 2020, half of the member schools had 40 percent of women enrolled in their MBA programs. This proportion of women’s enrolment is comparable to that of in 2001 when the organization was established. At the inauguration of the organization, the proportion of women at business schools in the U.S. was fewer than 28 percent.

Elissa Sangster, CEO of Forté, says that women are generally more reluctant than men to invest in an MBA, and their financial commitment to enroll in an MBA can be more challenging. Sangster adds, “They face the double whammy of typically earning less than men and also holding more student loan debt. Women were disproportionately impacted by the pandemic, so some of these obstacles were exacerbated.”

Sangster emphasizes how important it is to maintain the increased women’s enrollment because of the struggles faced by women in the pandemic recession such as increased domestic burden and significantly high job losses. Sangster also suggests that an MBA degree can help women break down barriers that traditionally can stand in their way, mentioning that only six percent of S&P 500 CEOs are women but nearly 40 percent of them hold an MBA.

“A great deal of research over many years has clearly shown that having a more diverse leadership team contributes to better financial performance, which is needed more than ever now,” Sangster adds.

Some women are reconsidering applying to business school

According to the Graduate Management Admission Council, the exam board for the GMAT exam, the pandemic had an immediate effect on women’s decision of applying to MBAs. In April 2020, more than half of women were worried about the pandemic’s impact on their pursuit of a business MA degree whereas only 37 percent of men did so. Only a month before, at the onset of the pandemic, the proportion between women and men did not show any significant difference.

This raises concerns that it can cause a ripple effect among the prospective applicants. Paula Amorim, MBA admissions director for IESE Business School in Spain, says. “Applicants tend to be naturally drawn towards schools where they can see themselves represented in the class. If the numbers of women studying at business schools deaccelerate, this might affect the motivation of future applicants, causing us to lose momentum in our efforts towards gender balance.”

According to Amorim, it is too early to predict the enrolments for the following year, but the school expects it to be more difficult to recruit women this year. For IESE’s current course, which opened in the autumn of 2020, the proportion of women was the same as the preceding year, with 32 percent of enrolled women.

Amorim agrees that the COVID-19 caused the decrease in women’s enrollment in MBA programs, saying, “Women, in general, maybe more stable on their decisions, making them less anti-cyclical than men”. Despite the increased interest in MBA programs, demand for women is after all being out weighted by stronger demand from men.

Amorim underlines the importance of the school’s role in maintaining the proportion of women and women enrolling in MBA courses. This action can be the targeted scholarships to incentivize enrollment of women or the focused initiatives to recruit women that were not previously considering an MBA. Amorim mentions, for example, “by getting alumnae to inspire women in their network and open their eyes to all the advantages of getting a graduate degree.”

At Georgetown University’s McDonough School of Business in Washington DC, the number of women in the MBA has also remained the same during the pandemic, with 32 percent.

Shelly Heinrich, associate dean for MBA admissions at Georgetown, also highlights the role of schools. Heinrich suggests that the schools need to, for example, dispel the myths of the stereotyped business school candidate. “The career options that come out of an MBA are so much more diverse than just typical male-dominated industries like finance and technology. MBAs also pursue jobs in nonprofit and social impact, consumer products, luxury goods, media, and entertainment.”  

Another myth about business school that should be debunked is that students cannot pursue a degree and family plan at the same time. “It is possible,” says Heinrich. “I had a four-year-old when I entered my Executive MBA program and was still able to balance work, life, and family. You certainly need a support network to do it. But women need role models.”

Virginie Fougea, global director of admissions, financial aid, and scholarships at INSEAD, stays optimistic about the numbers of women at business schools in the following years. Despite a slight decrease in women’s MBA enrollment this year, Fougea found that more women are taking the GMAT and that the GRE is also showing strong results with close to half of exam takers being women.

“Looking at the current applicant pool, we see a 6 percent increase from female applicants. We do not know how many women will be admitted yet, but we are very pleased with this current trend”.

Read more: MBA Students wanting to become a Pot Entrepreneur 

Hospitality is back on the labor market and seeking MBA graduates after the ‘dark’ age of pandemic

There has been a notable expansion of growth in the MBA School for its recognition in the hospitality sector. While the trend has been ongoing previously, the sector has recently gained immense consideration with the global movement of easing the restrictions and lockdowns from the Covid-19 Pandemic. While the restrictions have limited the global economy, the hospitality industry was affected significantly by the pandemic. Therefore, the recovery of the global economy is strongly influenced by the reviving of hospitality around the world.

The rebound of hospitality is creating a positive influence on both business schools and the industry. MBA Schools are introducing a new form of MBA programs in hospitality by cohering between Europe and China, where it interlinks both leading pioneers of formal training and a growing economy with developed leisure and vacation travels. Convincingly, the hospitality industry’s revenue returning to pre-covid rates is demanding more candidates with talents after a shortage. Rather than a mere staff in the restaurant, they seek skilled graduates to enter the roles of HR, marketing, and finance.

China’s economy is essential to the hospitality industry and exerting a strong economy in the market. Many countries and companies are investing their resources and time into this appealing land of opportunity. This is also shared among the business schools. Cornell University’s Johnson College of Business has introduced a dual-degree hospitality MBA program in cooperation with Peking University in China. The curriculum offers students an opportunity to reside and study in both US and China, where they will spend 70 percent of their time studying in Beijing and the rest in New York. The program aims to incorporate the topics of human resource management, real estate, and hospitality management into one curriculum.

Completion of the program will grant graduates an MBA and Master of Management Degree in Hospitability. Dean of the School of Management at Peking University, Liu Qiao, highlights the program and its significance to the growing economy in China. “Chinese economy is undergoing a reform of desiring an equilibrium of digital economy and carbon neutral. This results in the society demanding higher standards of the service industry.” Qiao continues, “Growth of service industry in China or worldwide requires more competent individuals. We aim to train those individuals to be equipped with internationalized senior management traits.”

Although MBA and hospitality seem like an unfamiliar duo, the attempt can be dated back as long as 1893 before the attempt by China. Ecole hôtelière de Lausanne, EHL has situated in Swiss introduced the first-ever MBA program in hospitality. While it is currently not an accredited program by the recognizable management education bodies, it’s maintaining its membership in AACSB and EFMD.

The same school established an MBA program targeting younger professionals. It was delivered dominantly online with partial participation on the campus. Achim Schmitt, associate dean for graduate programs at EHL, explains that the course exhibits substantial interactions with students and industry professionals to challenge the current issues and concerns in the hospitality industry. Engaging in this collaboration, allows students to develop an understanding of challenging issues like managerial. Achim added, “Hospitality is a volatile industry. It is constantly being disrupted by new technology, change in business models, and recently Covid-19. Such fluctuation requires complex management skills.”

MBA graduates with interpersonal communication and leadership in the industry

Many traits are favored by the business by their future employees. Communication skills are one of those traits that companies look for in their employees. Several surveys that were conducted among the employers portray that many companies prioritize interpersonal communication as one of the most important traits that the candidates must possess. Schmitt claims that the degree from Ecole hôtelière de Lausanne (EHL), will guarantee their students acquire these skills. “One of the most important skills that graduates must have when they graduate are leadership skills from a person to person.” The intangible nature of the service industry underlines the importance of communication to become successful.

According to Schmitt, graduates of EHL are equipped with skills and tools that not only will let them thrive in the hospitality industry, but also across other service industries. This is achieved through establishing strong foundations for working as a team in virtual environments. “Out of our 30,000 EHL alumni, half of them work in hospitality but the other half is showing their competency in areas like financial management, retail, and real estate,” Schmitt added.

Georgia, one of the states in the US, is known for its hospitality and tourism industry. However, Robinson College of Business is the only MBA program in the state that offers courses in hospitality. Director of the Cecil B. Day School of Hospitality at the Robinson College, Debby Cannon, states that graduates of the MBA program at Robinson are broader than the sheer hospitality industry and are scattered among numerous industries.

Furthermore, she emphasized the importance of communication skills in the hospitality curriculum to develop student leadership. “Graduates from our school are not limited to hospitability but find their career path in other various industries. This is because they are equipped with competence in skills to become a leader in business sectors, which can be applied in other areas like health, finance, logistics, and real estate.”

As we all know, the hospitality industry has been hit hard during the pandemic. A large number of companies were either bankrupt or had to minimize their number of employees. With a huge dent left in the market and many companies seeking to hire people for the recovering industry, the post-pandemic era is creating a very attractive job market for graduates. Cannon elaborated that now is the optimal moment to find a career opportunity in hospitality with many positions that have recovered from the pandemic.

Lastly, Cannon explains the current benefit of entering MBA programs in hospitality. “Over the coming years, being a graduate of an MBA program with a strong hospitality focus will be advantageous in career employment. Being equipped with the serviced-orientated mindset and leadership skills the demand for these competent individuals will grow higher than supply and you will be prepared to take on those opportunities.”

Read More: Is an MBA Degree Becoming More for the Rich in the Time of the Pandemic?

MBA graduates taking roles in aspiring space programs and the growing demand for MBA talents in the aerospace industry

We’ve all dreamed about becoming an astronaut at one point in our childhood. Although it mostly ended up as a mere childhood memory, this is becoming a reality or rather an optimistic career opportunity for adequate MBA graduates. Barret Schlegelmilch, a graduate of MIT Sloan in 2018 majoring in both Master in Aeronautics and Astronautics, is one of the epitome examples of the MBA talent taking further steps towards space.

With his previous experience ranging from working at NASA to being an officer on a nuclear submarine, his career path directed him to join Blue Origin, where his primary role is to integrate both engineering and business into program management in nuclear thermal propulsion.

Multiple billionaires are influencing the space industry and setting up different milestones for launching ambitious space expeditions. Blue Origin is a commercial space expedition company created by Jeff Bezos, Amazon’s CEO, with the intention of making space flights a commercially viable option. Another billionaire, Richard Branson, who is the founder of the Virgin Group, experienced a similar experience by completing a space flight around the outskirt of space through Virgin Galactic.

Business figures grabbing the attention of the students to the space industry is creating the ‘barnstorming effect’. Schlegelmilch compared the effect of the current growth of the commercial aviation industry around the world through the roles of mesmerizing pilots from World War I to the public figures nowadays. “We’ve seen the effect of how people’s interest in aviation uprising which leads to an explosion in the market growth. Influences from programs like Blue Origin’s New Shepard and Virgin Galactic are enthralling the minds of MBA students and giving them new career ambitions”.

The surge of interest in the space industry by MBA students can be seen through the rise of the student's interest in space programs in business schools. Founded in 2017, Astropreneurship and Space Industry Club at Sloan reached over 300 members, and Harvard Business School is including more case studies about space in its syllabus. Matt Weinzierl, a space sector professor at Harvard, emphasized the importance of the role of critical thinking business in the private space sector. “We will see further follow-ups of intellects and academic developments for space as the industry grows, allowing professors to provide a higher standard of teaching,” says Weinzierl.

However, there are still limitations to the research and teaching conducted on the business and economics of space. The majority of the focus is currently put on innovation or public policy. Business schools are aware of the difference in opinion on this subject considering the great importance of space in many of the vital technologies upon which the world economy depends on.

Entering space industry without a degree in rocket science?

An MBA club in Carnegie Mellon University’s Tepper School of Business called STARs was launched by Mike Provenzano and Anna Lawrence in 2017 to bridge students into career opportunities in the space industry.

The club held a Space Innovation challenge to highlight the ideas of students and apply them to real-world space problems through innovative methods. Positive feedback of the event and the reputation build up a network with major corporates such as Boeing, Planetary Resources, LightSpeed Innovations, and Bessemer Venture Partners who sponsor them with funds.

Opportunities to visit places with major ongoing expeditions such as Seattle for Blue Origin and Los Angeles for Boeing’s satellite system facility were arranged to provide insight and experience of the space industry. Sridhar Tayur, a professor in Tepper School, acknowledged the growing interest of MBA students with aerospace expertise to enter the industry. Furthermore, he says “It is no doubt to underline the importance of engineering in aerospace but having a competent product and business management is the key to success. We can see this by companies like Tesla luring MBA graduates into the industry.”

The viable trend of growing interest in the space industry is for the leading companies to open up their doors for more opportunities.
“Space companies need more than engineers. They need skills and talents in areas like business sectors for finance and strategy to the entirety of logistics chain for operation,” says Schlegelmilch. This can be seen with Blue Origin establishing programs to attract MBA graduates to take roles in sales, strategy, and operations.

Additionally, he recognized the potential concern that problems can arise from the lack of engineering expertise and that it is unnecessary to
have this fear. “An engineering background was essential in the past but it is not considered a ‘must have’ trait in the current space industry. Roles with no engineering background are needed more than ever with companies transiting into the operational phase,” explains Schlegelmilch.

“In the end, passion is what we desire most in the industry. Missions we conduct in space are time-consuming with financial
burdens. It requires endurance with a high motive for rewards. Having faith in a tomorrow for mankind among the cosmos, recognizing the positives that the future can provide for those of us here on Earth, and can support you go through tough times,” added Schlegelmilch.

Weinzierl agrees and further elaborated on the prosperity that MBA students can bring into the space industry. “Space is still
underdeveloped in many ways. A challenging but rewarding venture if you’re a talented and ambitious MBA graduate. The space industry has the potential to eradicate the major problems in our society like global hunger and climate change. It’s a field that you can contribute to a larger change in our world more than ever.”

Employment opportunities in space industry

Working in the space industry simply doesn’t limit an individual to launching a space shuttle. Schlegelmilch noted that MBA graduates
can practically work in any department just like how you would expect in other industries. It can range from business operations, logistics chain, marketing, R&D, and other areas. Kristen Fitzpatrick, a managing director of MBA at Harvard Business School, suggested that employment opportunity is blooming in larger companies like Northrup Grumman and Lockheed Martin with more autonomy guaranteed.

According to Fitzpatrick, many MBA graduates are looking to secure a position at various space companies like Blue Origin and a well-known
a company like Elon Musk, SpaceX to smaller but expanding companies like First Mode and Anduril to apply their skills and knowledge. Further branches from the industry into drones and autonomous flight are becoming a new area of interest for MBA graduates as well with graduates favoring areas like management positions in product, mission operations, and business development.

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Integration of academic studies and real world experience for a successful MBA learning experience

Factors to decide which business school to enroll in their MBA courses vary and the academic excellence of the business school is arguably becoming more considerate. Fame and reputation of the school is an essential factor that is also the result of the school’s academic performance. The rising importance of academic studies and research has changed over the years. In the past, research from business schools was limited to publications in credited journals. However, professors are now expected to exhibit over the mere article but an impact on the real-world business.

Don Moore, associate dean for academic affairs at the Berkeley’s Haas School of Business says “School’s reputation and influence affect the power of graduate’s MBA degree in the market. Thus the reputation is the result from the school’s academic and scholarly performance.” He claims that the students are able to forecast what school offers and teaches in their MBA curriculum through the scholarly research from the faculty. This could range from finance, marketing, decision making, leadership, or other disciplines from their research.

Moore continues “It is important to acknowledge what is required to succeed. Being ahead of others in a competitive industry is essential to accomplish your career ambition. Therefore, it is beneficial for everyone to identify what is required to succeed. And being at the right institution with highly focused scholarly will help and guide you to identify.”

Reformation for recognition and roles of business research

It is now easier to observe and witness the work of scholars which is an indication of the higher standard required than in the past with research in business. With high tolerance towards the public and away from previous opaqueness, it is becoming more feasible in terms of reliability and replicable with published results. These include data, materials, and analysis code within the research to be publicly posted for anyone to see.

Attention to the benefits that will occur from the research for the real world like governments, businesses, and individuals is becoming more prominent. Simple academic purpose research is losing its influence over the field of business school research. It now requires both an academic footprint and its real impact on our society.

This enhances the integration across the disciplines. The ideal models with rationality-based studies develop into more realistic theories that are accurate when compared to the real-world business in consideration of human behavior. One of the growing examples is behavioral economics by emerging economic principles with human behavioral decisions for the actions that occurred in real-world society.

Vincent Mak, vice-dean for programs and research at Cambridge Judge Business School claims that this trend has occurred with the presence of new technology and tools that allows us to actually able to take measures in the age of digital. He continues “It advocates the reinforced ESG (environmental, social and governance) guidelines. It will assist organizations and individuals to understand and respond more efficiently for the demand from the society rather than simply produce better managers.”

He adds that it is important to observe and seek academic research because it will help identify MBA students to seek what areas are being taken into account and where the focus is at among the areas like cooperates, non-profit organizations, government and etc. It is important to acknowledge these factors as a motive for a student’s future career. This is currently practiced in Cambridge Judge Business School where students analyze past events and determine success and failures with various topics for successful career ambitions.

Andrew Hoffman, professor of sustainable enterprise at the University of Michigan Ross School of Business understands the difficulty of identifying the impact in practice. “We quantify influence in the research community through credited articles, citation counts, and the H-index,". However, he claims the importance to include sources from the everyday world like TV, prints, radio, government sources, books, social media, and professional articles.

Hoffman believes that for a successful MBA learning experience, students must understand the importance of academic scholar. “Good business schools mean good professors. And this means you are learning from the depth of their study, work, and experience. Therefore, your syllabus is the work from a professor’s academic articles and work.”

To decide on the best MBA School, Hoffman suggests having a close insight into the academic research from their school. If the up-to-date research is being delivered to the classrooms, you know you are receiving the leading knowledge in the field and that is what you want to become most competent in when you graduate.

“Prospective students must be aware of how the faculty is doing with its academic output. It will significantly determine the level of information that you will be able to obtain in the business school,” says George Andrews, associate dean of degree programs at Rice University’s Jones Graduate School of Business. “For example, forming a fundamental background of the certain topic through the published research by their professors could benefit their career path such as financial modeling.”

Academic research in the MBA curriculum

Markus Perkmann, academic director of the Imperial College Business School MBA program, emphasized the importance of students being exposed to top-level scholar research. Regardless of the topic that the research is specialized in, it will reinforce students’ ability to critical thinking and skills to analyze information and evidence in the way that is portrayed in the business school research. This can be shown in the form of various contexts such as tackling systematic challenges in our society. Perkmann believes that the business school shows competency not only in the business fields but also in teaching and communicating with students.

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