International business, business models, business school, management education

The development of business models in the 21st century is significant to socio-economic development. Higher Education is seen as a fertile ground for developing business models. Business schools’ activities dominate the higher education landscape, particularly through their MBA degree programs. This fact has challenged many to question the direct contributions of business schools to social and economic development.  Business schools all over the world do face several problems, many of which are the result of offering a value scheme that mainly emphasizes on career-enhancement and higher salaries. This deviate from the aspects of business education as contrasted with the idea of organizational management as a profession. The methodology of the present study is based on a critical literature review of existing research on the emergence of business models and their contribution to socio-economic development. Business school education is also reviewed to bring to light its contribution to the development of business models that are relevant to the growth of international business. The key conclusion is that although business schools and business models have failed to address the needs of contemporary business dynamics, however, both can play an important role on leadership, management and business development if the context of programs and curricula be re-examined and improved.

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