Potential students are securing the opportunity to go to an online MBA-style programme that offers flexibility, affordability and is tailored to their needs to help them question the value of traditional business school qualifications.
Rivals to long-established schools are waiting to provide training: from full MBAs provided by mobile-first platforms such as Quantic to online mini-versions of leadership development specialists such as Quantic. Meanwhile, Coursera and LinkedIn Learning promote a coordinated approach of sewing together short, intensive courses.
Online shifting means that MBA applicants are no longer limited by geography, price, or strict structure, as rivalry is built between traditional and potentially disruptive providers.
“I wanted to go to top business schools, but I accumulated $200,000 in debt and didn’t want to lose two years of work experience and salary,” says Victoria Kanya, who became the Los Angeles game production manager who oversees the content for Pokemon Digital Card Games.
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Instead, she chose to study MBAs on Quantic. It uses artificial intelligence in the role of an advisor and tutor. “The program was online, self-paced for 15 months, at just $15,000,” says Caña, who completed her MBA in November.
AI-powered advisors provide immediate, personalized guidance on coursework, career issues, administrative tasks, and exam preparation, and act as an always available support system. Meanwhile, tutors work within the lesson and provide real-time, context-specific explanations that allow students to spend more time on topics they struggle with, or go deeper into aspects that interest them most.
“There is a general belief that the main value of obtaining an MBA is building a professional network,” she adds. However, given her work at Deloitte and her networking experiences in research and alliance at New York University, Kanya’s focus was on business scholars.
“I wanted to hone my knowledge of finance, accounting and economics, a hard skill that often prevents women from breaking barriers and hitting executive levels,” she says.
One in five people in the latest tomorrow’s MBA survey are considering alternatives to traditional business schools when acquiring the skills needed for a career, and have long considered the gold standard for career advancement. For many, new forms of online business education provide a more accessible route to career growth, says Andrew Crisp, consultant Carringtoncrisp, who commissioned the report.
“There are options for people who currently like the idea of having MBA initials on their resumes but can’t afford to go to Harvard or London business school,” says Crisp. He adds that the “mini-MBA” and short courses allow learners to sample business education before committing to the full program.
Online course completion rates are often lower than traditional in-person programs. But Quantic co-founder Tom Adams says technology is helping to drive participation. “Unlike most online alternatives with low graduation rates, we often exchange boring lectures and provide strong results from reading assignments for highly interactive app-based learning and group projects,” he says.
The Quantic curriculum is developed by a team of in-house faculty members working with professors from institutions, including Georgetown and Insead.
Abilitie is about to engage participants with a short batting lesson of “12 Weeks MBA.” “We’re running the organization for 12 weeks with candidates in competitive, AI-enhanced, team-based simulations,” said Nathan Kracklauer, Abilitie’s Chief Research Officer. “It is an attractive way to introduce business concepts and provides evidence to practice new skills.”
Tim Grossuchus, director of service offerings for Atomic Data at Minneapolis consulting firm, says he found the Abilitie program practical and efficient. “This course was something I could do on the evenings and weekends, along with my already busy schedule,” he says. “Simulations performed with artificial intelligence in group work helped transform theory into practice. They also allowed us to expand our network across industries.”
Others are looking for a more customizable educational experience. Joshua Schreiber, a University of Miami student and co-founder of career marketing agency GenzCruiting, says he uses LinkedIn Learning, whose subscription is $39.99 a month to complement his first degree with his own choice for MBA-style education.
“The hidden truth about top MBA programs is that they don’t pay more than $200,000 for educational content, but more than that for the network,” he says. “With LinkedIn Learning, you’ll have the ability to learn the same content as industry leaders teach you, as well as building your own network and personal brand.”
Last year, LinkedIn Learning created specific “learning paths” that guide students through core themes and skills covered by the MBA program. Although business school scholars teach several courses, the idea is not designed to replace the complete MBA experience, says a LinkedIn spokesperson.
Some schools offer bite-sized programs at Coursera. For Mexico City account executive Hasari Teddy, the starting point was Apollo, who studied 20 large open online courses and completed the Business Foundations Specialization course by Wharton at Coursera.
“I’ve found Coursera offers a wealth of opportunities to learn from top-class professors at their own pace and at first-class costs,” Teddy says. “Students can focus on the content they need, rather than following a rigid linear curriculum like the MBA.”
For Nikolaz Foucaud, European Managing Director at Coursera, the advantage of the short course and the qualifications they have acquired is that it allows people to build their skills in stages.
The line between traditional and non-traditional providers is blurred. Coursera, for example, currently partners with 29 universities, including Imperial College London and the University of Illinois, offering association-certified online MBAs to advance the university’s business schools.
“Business schools are evolving to meet the changing needs of professionals by providing greater flexibility and specialization,” says AACSB president Lily Bi. “As a result, business schools remain the best return on investment for individuals looking for a career in business.”
Alternative providers use the knowledge produced by business schools, but that’s not the source, according to Barbara Stettinger, executive dean of the Faculty of Education at HEC Paris.
“A MBA is not just three letters. It’s a proficiency in business administration,” says Stöttinger. “I’m not saying that what you get from a non-business school is worthless, but pedagogy plays an important role.”
