Changing the game in business education: Global institutional partnerships open new avenues to success

The Fourth Industrial Revolution (4IR) is the environment where technologies such as robotics, artificial intelligence, virtual reality and the internet of things are changing how people live and work. While it can be argued that these solutions rely on the computers and information technology that defined the Third Industrial Revolution, 4IR is a new era instead of a continuation due to the disruptive potential of emerging technologies and the explosive speed at which they develop.

Today’s times are indeed exciting, but they raise the question of whether everyone is capable of handling the pace of 4IR. The novelist William Gibson once said, “The future is already here. It’s just not very evenly distributed.” The complexities of these technologies and their emergent nature makes many aspects of 4IR feel unfamiliar, and to many, threatening—especially for organizations and societies who are just coming to grips with the integration of digital technology in everyday life.

In the wake of all these transitions, students have emerged as a group vulnerable to the impact of 4IR. If education is supposed to be a foundation for professional life, how would it feel to finally finish college, only to be cast into a strange employment landscape where entirely new roles are created to suit the development of human-machine partnerships in the workplace?

To prepare the next generation of professionals for this new era of work, academic institutions must focus on adapting to the needs of today’s job market and provide proper training to “robot-proof” their careers.

Breaking barriers through interuniversity collaboration

With societies growing increasingly connected thanks to advancements in the field of communications, universities can leverage these technologies to open new routes to add value to the student experience. One way to do so is via interuniversity collaboration. Having two different universities working together on educational and research initiatives builds ties between countries and empowers students, academics and their faculties to become more globally competitive.

That was the goal we set out to achieve in collaborating with Arizona State University (ASU)—the No.1 school in the United States for innovation for nine straight years. In keeping ahead of the ever-changing social and professional environment, students of Mapúa University’s E.T. Yuchengco School of Business are equipped with education grounded on global immersion, real-world experiential learning, immersive facilities and digital mastery.

To enable greater access to international opportunities, the collaboration opens pathways for learners in the fields of Business Administration, Marketing, Global Management and Business Intelligence and Analytics to experience flexible transnational modes of higher education. To fast-track professional development, these programs operate on a three plus one system where undergraduates can complete a degree program in three years with us before enrolling at ASU for their last year—allowing them to finish college with two degrees in four years.

The collaboration has also created an accelerated master’s program that allows students to graduate with both a college and master’s degree in four years. In addition to greater educational opportunities, the program provides options for students to stay in the United States for three years to apply their knowledge, gain work experience and expand their international networks. These initiatives are invaluable in our pursuit to grow societies through innovation, digital transformation and lifelong education especially as 4IR continues to transform how the world does business.

Global businesses, global opportunities

I believe 4IR will have many points of impact in the world of business. Physical products and services can be enhanced with digital capabilities that increase their value. New technologies can make things more durable, while data and analytics will transform how they are maintained. At the same time, consumer expectations will grow. New global business models will also emerge—prompting shifts in how organizations are built moving forward.

Education has long been a means to prepare students for employment. Now that workplaces are changing at a velocity previously unheard of, it’s time for schools to recognize those movements and to work together in shaping future-ready careers for tomorrow’s business leaders—making them ready to find success and change the world, wherever in the world they decide to work. —CONTRIBUTED

The author is the executive vice president for international alliances and Cintana Partnership executive director at Mapúa University.