New year, new subject?

26 January 2025

Andrew Crisp considers how to close a programme and what might replace some of today’s degree subjects.

Business schools are often poor at closing programmes.  Numbers dwindle over a few years, but somehow a programme keeps running, although at a loss.  At the recent GMAC Leadership conference, portfolio review was a much discussed topic as schools seek to make space for new programs. 

Part of the answer is certainly having an established process set out which is used to judge all degrees, backed by good data.  With the rapidly changing world, it’s important to have more frequent reviews than the seven-year cycle that an Australian university confessed to at a recent conference.  Whatever the process, what subjects are in demand now and potentially, in the future?

There are clues everywhere, whether that’s data specifically from business education studies or wider trends across business and society.  Towards the end of 2024, LinkedIn Learning, published its list of the most popular courses in 2024.

Not surprisingly, data and AI were among the most popular courses, but neither were the top choices.  Top of the list, and perhaps data connected, was Excel Essential Training, followed by Project Management Foundations.  However, three of the next four most popular courses were AI related with the other focusing on data visualisation.  The remainder of the top 20 included a host of traditional topics – leadership, communication, time management and problem solving.

The new Tomorrow’s MBA report, being published at the end of January, suggests some similar themes.  Just under 2,000 students from 37 countries put technology-subjects top of their list.  Artificial Intelligence tops the list of most valued subjects, but more long-standing technology subjects are not far behind – Data Analytics, Technology Management and Digital Marketing – with Cybersecurity in fifth place.  Ten years ago, there would have been little of these subjects taught in business schools, perhaps in Computer Science departments, but today all have an impact across business.

Look more widely and traditional business subjects appear to be less important for many of today’s prospective MBAs.  Top of the non-technology subjects is Economics, followed by five subjects that are equally valued – Business and Financial Environment, Strategy and Strategic Management, International Business, Leadership and Project Management.  Yet, that doesn’t mean these topics should disappear from an MBA, rather these may form a core of knowledge with students able to specialise beyond them.

There are also topics that students expect to run throughout their studies – responsible management, ethical leadership, global challenges and diversity, equality and inclusion.  While many prospective students want a specialist MBA, within such a program they still expect a rounded overview of business and society, helping them apply their knowledge in a variety of settings.

And beyond the horizon, what might be the subjects of the future?  Healthcare management is certainly on the rise whether that’s dealing with digitalisation, the impact of pandemics, mental health or an ageing population.  Further out, space and satellite industries are a growing sector, from running a programme to take humanity to Mars or working in the enormous supply chain involved in space exploration.