Page 30 - Global Focus, Issue 2, 2018

EFMD Global Focus_Iss.2 Vol.12
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No. of schools 2015
World 16,484
Latin America 2,041

Argentina 77
Belize 2
Bolivia 30
Brazil 376
Chile 38
Colombia 175
Costa Rica 45
Ecuador 54
El Salvador 24
Guatemala 11
Honduras 8
Mexico 1,000
Nicaragua 42
Panama 25
Paraguay 21
Peru 80
Uruguay 7
Venezuela 26

Table 1: Schools offering business degrees-any level
Source: AACSB International (2015)

block for management education within the ensuring quality in higher education. Therefore,
country. If I go back to the 1980s, [our school] a whole structure was established … asking
was almost unknown. Now [it] certainly has an universities to go through quality accreditation
international recognition and other schools in processes ... That has helped the country in
the country are following the steps that [we] identifying those institutions that offer quality
took a decade ago. So now there are other education from those that are just businesses
schools getting international accreditation.” for profit...”
However, globalisation also widened the However, these events triggered some
number of foreign competitors that arrived in important issues in Latin American management
the region. Over time, foreign players have education. One is the heterogeneous level of
typically been seen to operate through a rapid schools’ quality that stemmed from the rapid and
entry and exit due to the cost structure. Despite substantial expansion of business education in the
favourable demographics and an appetite for region and changes in regulation. This gave rise
management education, foreign entrants have to a very stratified educational system with only a
seldom found a financially viable business few schools and programmes at international level.
“Management education became much more
model for operating in the region. available to companies and managers. In the past … 2k
Regulation of higher education it was only offered to an elite of the managers. Now
The regulation of higher education was also it became the norm ... So it grew considerably and Currently, the estimated
number of schools offering
identified as an influential factor in shaping the became very popular ... To reach all this population, business degrees in Latin
evolution of management education. In some numerous alternatives appeared and not all of them America is above 2,000,
countries, the market for education was opened- with the same quality level.” which represents more
than 12% of business
up to the private sector, while some governments Further challenges are posed by globalisation schools worldwide
developed new quality control mechanisms, like along with the need to build up local relevance. In
national accreditation processes, and new particular, globalisation has made Latin American
regulations for masters degrees. business schools reflect on how to develop an
“During the last 10 years…the government international mindset in their students and better
had decided to regain, in a sense, the control of prepare them to succeed in a global environment.
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