Howard Davies is associate dean at the faculty of business, Polytechnic University. He explains what impact recessions have on the demand for further education at the MBA level and above.
Has the economic downturn heightened awareness for further education, especially at MBA/EMBA and DBA levels?
An economic downturn usually leads to a higher demand for education on the whole.
For business and management education, this phenomenon is very obvious. When business slows down, you have more time to ponder and reflect, to think about what you need and what you can improve. When the environment becomes more challenging and the situation more difficult, you would think more about how to maintain your market share, what edges you have over others.
One very direct way of enhancing your abilities and strengths is further education. That is one major reason why postgraduate business education, including MBA, EMBA and DBA places, is now in demand.
Have you noticed an increase in interest in business education from people in specific industries? Why do you think this is so?