71

Closures of full time MBA programs, fewer candidates taking the GMAT (Graduate Management Admission Test) in the USA, mergers of schools, emergence of new types of competitors, smear campaigns in the press… the very core of business schools seems to be crumbling. Faced with these stark realities, many business schools appear to be in denial, seemingly comforted by accreditation and ranking systems which result in increased mimicry and isomorphism. While some schools with strong brands will continue to thrive by tweaking their traditional business models, many others will have to innovate or perish. A variety of responses are being undertaken, including online delivery of courses, design of flexible and less expensive programs, and the diversification of the student body. Which will survive is the question at the present time.