If you have seen the recent trends and ranking patterns you will notice that there are a considerable number of Asian Business Schools competing with the big names like Harvard, MIT, Wharton, Stanford etc. There are many reasons for this. You can also see that a huge number of applications are being processed by all the top B-Schools across the globe are from Asians. It is a clear indication that most of them are from Asia. However there are many things that are being considered by the students such as fees, living expenses, traveling time, job opportunities, international exposure, and economic stability to name a few.
Ever after the 9/11 the visa regulations have become stricter which resulted in lesser rate of enrollment for US programs. Not to miss out the economic slowdown that hit US and Europe too. This resulted in rise of many good B-Schools and later on they are competing with the biggest names in B-School world, and they are successfully refraining themselves from being eaten away by the biggies. It means they exploited the situation in the right manner and created new opportunities.
However the Asian schools lacked the academic experience which was one of the constraints for these to reach the top. But gradually with time, they too mastered the trade of education. The main colleges that gained were Indian School of Business, NUS Business School, Nanyang Business School and CEIBS. ISB has shown a growth of more than 60% in last 3-4 years. The total numbers of seats were increased to 770 from 570 by ISB adding a new campus at Mohali apart from Hyderabad. It takes time to build the trust and reputation while you are competing among the big names. But after these colleges emerged, it was a relief for the Indian applicants who wanted world class education very close to their homeland. We cannot forget INSEAD which opened its second campus at Singapore just to explore the same opportunities but much ahead of others.
With superior quality teaching methodology that had been adopted by these B-Schools in near future we can see them replacing the biggest of names among the Top B-Schools across the globe. It is simply because the ranking are not just based on the facilities and teaching staff. It also depends on the class profiles and job opportunities. At the considerable less cost if these schools can deliver the best of the professionals to the corporate world, I’m sure Asian B-Schools are going to be the world’s favorite.