● 29 October 2024 ●
Creating an Impactful and Relevant Curriculum for Business Study Abroad Programs
Written By
Team Authentica
Table of Contents
The world of business and entrepreneurship is constantly evolving. Given the interconnectedness of the world’s economies, business schools must integrate current trends and diverse business practices into their curriculum. This involves staying informed about global market shifts, technological advancements, and emerging business models. This article will discuss ways to design an impactful and immersive curriculum for business study abroad programs that resonate with the trends and demands in the business world.
Designing an Impactful Curriculum for Business Study Abroad Programs
1. Identifying Emerging Trends
A forward-thinking curriculum must anticipate future trends that will be crucial in the business landscape. This foresight ensures that students thrive in the present and are prepared for future business environments. Here are some emerging trends that you can access:
i. Sustainability and Circular Economy: Corporations worldwide are recognizing the need to create a sustainable world. As global challenges like climate change, resource scarcity, and social inequality intensify, the corporate world is stepping up to drive positive change. From reimagining supply chains to developing eco-friendly products, companies are making sustainability central to their operations and growth strategies. Similarly, the circular economy model is also gaining traction globally. Unlike the traditional ‘take-make-dispose’ linear model, the circular economy is based on three principles: eliminate waste and pollution, circulate products and materials, and regenerate nature.
In our custom business program Sustainability in South Korea, the students get exposure to the sustainability and social enterprise landscape in South Korea. For instance, the students visit Beautiful Store, a non-profit organization that collects donations of old or worn-out items and sells them to raise money for charity. The store also operates a flea market to promote the culture of recycling, donation, and sharing. Visits like these enables the students to learn how social enterprises are increasingly integrating sustainability into their business models.
At Authentica, all our business discipline focused programs are also aligned with one or more UN SDGs, so the students are not just learning about various business practices but also how these practices advance the UN SDGs. For example, one of our programs Sustainability & Post-Oil Economy in the UAE, explores the strategies implemented by the nation to become the global business powerhouse. Along with the company visits, there is also a visit to Masdar City, an urban community in Abu Dhabi that aims to be a model for sustainable urban living, combining renewable energy, green building practices, and advanced technology. This visit allows students to witness first-hand how innovation can drive sustainability and inspire solutions for future cities. The program curriculum is aligned with the following goals:
Goal 8: Decent work and economic growth
Goal 9: Industry, Innovation and Infrastructure
Goal 11: Sustainable cities and communities
Therefore, integrating sustainability and circular economy principles into the business curriculum has become imperative for preparing future leaders who can drive both profit and purpose in tomorrow’s economy.
ii- AI-Driven Business Intelligence and Decision Making: Artificial Intelligence is revolutionizing how businesses gather, analyze, and act on information. This trend is reshaping roles within organizations, demanding a workforce that can effectively collaborate with AI systems, interpret AI-generated insights, and make strategic decisions that leverage AI capabilities while understanding its limitations.
Therefore, it’s crucial to incorporate how AI is transforming businesses and decision-making into the program curriculum. In our program, AI, Analytics, and Data Dynamics in Chinese Economy, the participants study the factors shaping the development of AI, analytics, and data driven operations in the Chinese economy through visits to organisations like Shenzhen Institute of Artificial Intelligence and Robotics for Society, College of Big Data and Internet, & Damo Academy.
iii- Gig Economy and Future of Work: The nature of work is undergoing a fundamental transformation, driven by technological advancements, changing worker preferences, and economic pressures. The rise of the gig economy and remote work are reshaping traditional employment models and creating new opportunities and challenges for businesses and workers alike. The curriculum can incorporate topics like gig economic dynamics, remote work strategies, labour laws in the gig economy, and more.
For instance, Authentica has helped Ivey Global Lab with internship placements with organizations like MKCL which provides training for rural youth to become high-quality gig workers.
2. Incorporating Meta-Skills Development
In the world, where AI is taking over jobs and transforming industries, it has become essential for students to develop meta-skills that enable them to continuously adapt and keep pace with business and technological advancements. Meta-skills are skills that help one acquire other skills. When creating a program, consider how the curriculum can enable students learn the following meta-skills:
i- Cultural Intelligence (CQ): Cultural Intelligence enables individuals to effectively navigate and operate in various cultural contexts. It underpins the ability to acquire and apply culture-specific knowledge and skills. When traveling to a different country for a study abroad program, you can leverage the opportunity to cultivate CQ in students by immersing them in the cultural practices that are integral to the business culture in those countries. For instance, in Japan, students can learn about the practice of exchanging business cards with both hands as a sign of respect or in South Korea, business meetings often start with small talk to establish rapport and trust.
ii- Cognitive Flexibility: It refers to the mental ability to switch between different concepts, think about multiple concepts simultaneously, and adapt behavior to changing situations. In a global business context, it’s particularly valuable for tackling complex, multifaceted problems that don’t have clear-cut solutions – a common scenario in international business.
In the program curriculum, you can present students with complex business scenarios that require consideration of multiple perspectives (e.g., financial, ethical, cultural, environmental). Have them approach the problem using different analytical frameworks and synthesize a comprehensive solution. For instance, in our programs, we incorporate Problem-Based Learning wherein students are divided into groups and each team is presented with a challenge question. The teams have to conduct research and present their findings to the audience. Such active learning models enable students to exercise cognitive flexibility and develop the ability to think critically and adapt to rapidly changing situations.
iii- Social Intelligence and Emotional Intelligence (EQ): Social and emotional intelligence are crucial for understanding and managing one’s own emotions and those of others, which is fundamental for developing effective interpersonal and professional skills.
To apply this in the curriculum, you can incorporate experiential learning activities such as role-playing and group discussions that encourage students to practice empathy, active listening, and conflict resolution. Additionally, reflective exercises can help students identify their emotional triggers and responses, fostering self-awareness.
3. Immersing in Local Business Practices
Instead of focusing only on one company, you can arrange visits to different companies that offer diverse perspectives to students. Office and factory visits, interactive expert sessions and engaging workshops will enable students to learn from various business models, operational strategies, and cultural practices. For example, in our program International Trade and Business in Dubai, students explore Dubai’s business practices through visits to major industries, including financial services, real estate, tourism, consulting, and transport. They gain insights into the operations of multinational corporations while also learning about small local businesses, such as the Gold Souks in old Dubai. This firsthand experience offers students a perspective on the diverse business practices and cultural dynamics that coexist within the same region.
You can also train students in basic ethnographic research methods. Then, assign them to conduct mini ethnographies of local businesses. Students can spend a week in a family-owned business, a local startup, or even a street vendor’s operation. The goal is to gain deep, nuanced understanding of how local culture shapes business practices at every level.
4. Incorporating Design Thinking
Design thinking, a human-centred approach to innovation, has emerged as a powerful tool in business strategy and problem-solving. It focuses on understanding users’ needs and creating innovative solutions involving five key steps: Emphasize, Define, Ideate, Prototype and Test.
In our custom and open-enrollment program, Social Innovation Lab, we incorporate Design Thinking model where students from diverse disciplines such as business, engineering, education, etc work on projects with social enterprises and apply their skills to solve real-world problems. They create innovative prototypes that address the specific needs of the communities.
When working on projects during the program, you can encourage students to take the design thinking approach to deeply understand user needs (crucial in diverse markets), reframe problems (essential in unfamiliar cultural contexts), generate innovative ideas (vital for competitive global markets), and rapidly test solutions (key for agile business strategies).
5. Providing Networking Opportunities with Industry Leaders
Networking with industry leaders is a critical component of business education, particularly in a study abroad context where students can gain unique global perspectives. These interactions provide invaluable insights into local business practices, industry trends, and career pathways that textbooks alone cannot offer.
You can incorporate guest lectures, college alumni interactions, workshops with industry experts, etc. into the curriculum, which can serve as excellent opportunities for students to connect and diversify their global professional network.
In our business program, Exploring Singapore’s SME Landscape, the business students attended Go Global, a networking event in Singapore where they not only got an opportunity to showcase their business-related products/services but also engaged in learning, interacting, and networking with industry-leaders, impact-makers, and venture capitalists.
Crafting Tomorrow's Global Business Leaders
The business world is changing at an unprecedented pace. Our approach to study abroad curriculum must be equally dynamic and forward-thinking. By implementing these innovative approaches, we can craft programs that truly transform students. We’re not just teaching global business; we’re sculpting adaptable, empathetic, and culturally fluent leaders ready to tackle the complex challenges of our interconnected world.