"A collaboration between academics and regional specialists will better prepare students" was the observation of Mike Bastin while writing “Emerging markets necessitate a rethink of business education”. Indeed, his focus is a worthy one that business success depends a lot on the understanding for emerging market. But, business schools in the west are paying not such attention on the growing market in China and elsewhere in Asia. Maybe culturally different and unknown business environments have not yet attracted western business school academics to make research upon, but global business environment does not allow one to be limited within a geographical boundary .
New Approach on Business Analysis is Necessary
The news of western corporations struggling to make growths in emerging market clearly shows that business students should always take new approach. The methods of market research as taught at top business schools around the world continue to stress much upon their usual ways of case study. There are lectures and models, presented, explained and applied to demonstrate business theories. Then there are seminars where theories are challenged to arrive in to a long case study. It is although profitable for business and management education, yet superficial. It is superficial, because this sort of programme lacks the participation of local business expert of any area.
On the other hand, Chinese department of business studies is still not very active to include business developments outside their national territory in their curriculums. As, they are new, they lack depth of understanding of business theories cultivated by the top European and US universities. A venture in this territorial sphere, therefore, requires a fusion of business theory specialists and area experts to understand the expert views on the pros and cons of any business project there, and theoretical conclusion thereon.
Chinese Business Studies Take a New Measure
A good step towards this sort of collaborative analysis has been taken between china studies and business school cognoscenti to exclusively focus on emerging markets. There they will emphasise more on local area surveys on market prospects based on how local resources can help develop new market possibilities.
Business theories pose some shortcomings if they do not include local specialities of any place. Market nowadays has become so diverse that a limited theoretical knowledge over it is not going to help one apply them successfully if not judiciously implemented. So, today’s business probabilities should have to be cultured and cultivated on their emerging market prospects, for which local expert views from every new market are necessary to plan a concrete strategy on global market.
In most cases, business schools remain restricted to some noteworthy areas for their market studies. But new strategic measures are felt utterly important, for which a worldwide community-based business analysis appears as the only effective way to properly understand the spirit of new markets sprung from every other corner of the world. Online business schools are more advantageous in this respect.
Online business programmes like online diploma in business, undergraduate and postgraduate degrees let students always keep in touch with updated ongoing information in markets all over the world. With globally extended online business programmes one gets the constant view of emerging business ideas budding up in every distant corner of the world. So, an online business student can act as a global player in business, instead of being bound to any particular geographical boundaries.