How are B-schools modernizing the MBA experience?

According to Gartner, by the end of 2021, 60% of the educational institutes in the USA will be using VR to create simulations that will help students to gain better exposure.Today, business schools are not only reinventing the wheel but are also automating and modernizing it too. The education sector and business schools have realized that today each industry needs to change the method they used to follow and use technology to stay in business. In the past, business education seemed to focus on 2 years/ 1-year MBA program where they emphasized on the core subjects, assignments and few case studies. The education was more theory-based than hands-on practical experience. Students never had any opportunity to deal with real-life situations/ scenarios.

In recent years, b-schools have taken a stand and decided to revamp the whole education system making it a practical education system, where one can experience and work with companies on live projects during their MBA studies. Several colleges that are using technology to create better interactions for the students.

Here are some example of b-schools using technology

HBX Classroom
Talking about the future of classrooms, Harvard business schools schools have started building learning centers for the future. They have built the ‘HBX classroom’. This classroom is an online future classroom that allows real-time interactions between students and professors around the world. This online classroom teaches the fundamentals and core subjects of business like Analytics, economics, financial accounting, etc. This program enrolls around 60 students who are displayed on an individual screen. The advantage of this program is the flexibility of the program, the student can attend it from work, school, home or any place in the world.

WOW ROOM
Like Harvard, IE business school has built the ‘Wow Room’ which brings the future of learning virtually forward without any limits. The wow room is known as the window of the world. It’s an online education model to transform the learning experience through artificial intelligence, simulations in real-time, big data analysis, interactive robots, and holograms. IE has built this model to bridge the gap between education and the future. An interesting fact is IE business school has invested 25 million euros on this project and has gained recognition as the best online MBA business school in the world.

OXFORD HIVE
Like other colleges, oxford’s said business school introduced the Oxford Hive, another virtual classroom with high engagement. This classroom comprises of 84 students in the classroom and around 7 students can present at a time. This program at Oxford is used for team meetings, presentations, in- house training. The advantage of this program is to increase connectivity around the world and reduce the cost of travel, accommodation and carbon footprints.

All these steps have been inculcated so that the colleges can align their goals with the student’s goals. B-schools focus and emphasize these skills and mind-sets so that students will be able to face challenges and survive in today’s competitive world.

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