Business schools: The reckoning has arrived
Business schools are changing their education models at breakneck speed to minimise the ravages of Covid-19. The pandemic has forced them to confront a future some have been reluctant to face
Classes are empty, clients missing in action and revenue is shrinking. It may not be quite the apocalypse some claim, but business schools are having to take dramatic action to cope with the ruinous economic and social consequences of Covid-19.
Executive education, the money-spinner for many schools, has taken a huge knock as corporate clients postpone or cancel programmes to cut costs. One report predicts that, globally, up to 55% of customised programmes planned for 2020 could be postponed to next year. At least 10% are likely to be cancelled altogether.