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Byline: David Furlonger
THE BUSINESS OF BUSINESS SCHOOLS.
In a class of its own Recession? What recession? The economy may be struggling but, apart from a few blips, most business schools say corporate and government demand is so strong they are preparing to shift into expansion mode. looks at how business schools are profiting in the downturn WHAT IT MEANS.
Companies recognise need for training.
Schools are increasing capacity The business world they rely on may be shedding jobs and struggling to stay afloat in the recession but SA business schools have never had it so good. Demand for the master's in business administration (MBA) qualification is booming. It's the same for executive education. While there has been some drop-off in open (public) courses, schools say demand for customised education from both government and the private sector continues to grow. One school reports business has doubled in 2009.
Internationally, demand for MBAs is at record levels. Jeanette Purcell, CE of the London-based Association of MBAs, says the boom is related directly to the recession. Executives all over the world have been retrenched. What better time could there be to upgrade your skills and make yourself more marketable? Tom Ryan, a professor and former acting director at the University of Cape Town's graduate school of business, reports growing demand for both the school's standard and executive MBA programmes. Other institutions tell similar stories. Some are also ramping up doctoral teaching capacity to meet unprecedented demand for DBAs.
However tough the economic conditions, employers recognise they can't afford to cut back on development and training of managers and executives. To do so would be to invite …