
"Futures of Business Education in 2055" Report
After a 2-year foresight initiative in collaboration with different stakeholders engaged in business education, ABIS is pleased to release the brand new “Futures of Business Education in 2055” Report.
Business education has a solid potential to grow and strengthen the capacity of societies to engage in a sustainable transition, as outlined in our latest position paper (Teerikangas et al., 2022). However, current business and management education models have been criticized for perpetuating problematic paradigms from the industrialization era.
Given this tension, it is important to identify a new trajectory for business schools and understand how business education could change to better contribute to societal wellbeing. Business schools must critically reassess and proactively reshape their purpose, and foresight and futures studies can be a powerful ally in this process. The aim of this initiative is to offer original, novel insights and solutions to foster pedagogical innovation and dialogue around management theory as well as institutional transformation in business education.
In fact, the questions that authors of the report tackle refer to what and how will be taught in business schools' curricula, what kind of research that will be conducted and how business schools will function and be organized in 30 years.
Four alternative scenarios for business education in 2055 have been built upon intelligence from more than 30 experts from academia policy, civil society and industry:
- Scenario 1: Striving for unity, characterized by a paradigm shift towards circular economy and increasing globalization
- Scenario 2: Striving for growth, characterized by a business as usual, linear economy paradigm and increasing globalization
- Scenario 3: Striving for independence, characterized by a business as usual, linear economy paradigm and increasing localization
- Scenario 4: Striving for connection, characterized by a shift towards circular economy and increasing localization.
The scenarios vary considerably, provide starting points for responsive and adaptive strategies and policies, and provide insights to develop flexibility in the process of continuously developing and improving these strategies.
Amidst the complexity and interdependence of the systemic issues affecting and being affected by business education, one of the most striking insights that emerged in writing the final report is that of directionality and leadership. Our hope at ABIS is that leaders and decision-makers in business schools will shift towards innovative management education that addresses broader societal challenges, serves a wide range of stakeholders and honours the humanity of individuals.
We invite decision-makers within business schools, policy makers and other relevant organizations with responsibilities in Innovation, Sustainability, Human Resource Development, Talent Development, and Learning & Development to make use of the scenarios and rise to the occasion in the face of our planetary polycrisis.
Enjoy the read and reach out to us for any comments and reactions, we would love to hear from you.
"Futures of Business Education in 2055" Report
