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BUSINESS schools in the country need to stay relevant to produce a new breed of entrepreneurs equipped to face the new challenges of doing business in today’s world.

“Business schools are no longer just about bottomline figures. They must also play a role to imbue in their students, who are future industry leaders, with values of sustainability and accountability,” UEM Group chairman Tan Sri Dr Ahmad Tajuddin Ali said at the launching of the Universiti Sains Malaysia (USM) Graduate School of Business by USM vice-chancellor Prof Tan Sri Dzulkifli Abdul Razak yesterday.

“The global financial giants whose past actions are now wreaking havoc were mostly led by graduates from some of the top business schools in the world,” he says, adding that a recent article said almost 70% of these leaders came from American Ivy League institutions and top European schools.

Therefore, business education must be reviewed for relevance and impact, he says.

Ahmad says business school curriculum should be revamped to stress on global management issues, experiential learning, value embedment and leadership development.

“We must get the global content right so that our students can work in multiple geographies when they graduate. Experiential learning involves travelling, studying, and working abroad.

“Nothing can substitute for the experience of being on the ground in another country. Business schools must also create ‘immersion programmes’ to provide educational experience that complement classroom work,” he says.

On value embedment, he says it involves the inculcation of values such as fairness, kindness, respect, service, integrity and honesty.

“Business schools must also focus on leadership and accountability courses that can present students with managerial challenges from a cross-disciplinary perspective,” he said. - The Star