Business schools the world over are experiencing record highs in applications, and South Africa is no exception. The increased interest is driving even tougher competition, which could be good news for business education overall.  Local business schools are continuing to experience an unusually high number of applications, in keeping with a global trend that is making this field of study even more competitive. South Africans are clamouring to attend the country’s best institutions, both from within the country’s borders and from the rest of Africa.

The website mba.co.za, which is endorsed by the South African Business Schools Association (SABSA), puts this increased demand down to South Africa being what it calls an “economic powerhouse” on the continent. “[Since the dawn of democracy] South Africa has re-occupied its place on the global stage, with the demand for broad-based management skills reaching record highs. The MBA has become a sought-after qualification and is equipping a new generation of South Africans with the tools necessary to compete with their international counterparts,” an article published on the site www.mba.co.za

This is a continuation of a trend reported in 2014, www.moneyweb.co.za where some schools noted an increase in MBA applications of up to 400%, with an expected increase of 20% year-on-year.

It’s not just the MBA that is increasing in popularity. The UCT Graduate School of Business (GSB), which is currently accepting applications for the 2017 academic year, reports that it has had such an increase in applications overall that it has had to introduce two application dates.

“The GSB’s programmes, which include the MBA, EMBA, MCom in Development Finance, MPhil in Inclusive Innovation, Postgraduate Diploma in Management Practice, and a PhD programme, are particularly sought-after,” says director of Open Academic Programmes at the GSB, Segran Nair. “Each year we receive so many applications that we are working with a waiting list.”

Some believe this increased competitiveness is ultimately beneficial to business education. Business leader and author John A. Byrne writes in a feature entitled ‘The B-School Class of 2015 by the Numbers’, “[N]ine out of the ten [top US business schools] reported an increase in MBA applications, allowing most of them to be even more selective than usual… Most admissions officials and deans say the applicant pool is among the best they have ever seen.” poetsandquants.com

Nair says the country can only benefit from this rising interest in business education, as well as the increased competitiveness. He added that schools were also seeing a shift in what is being taught as more students are seeking a grounding in innovation and entrepreneurship along with a more traditional focus on business fundamentals.

“Successful entrepreneurship is one way to drive growth in an emerging market, and training innovators in all industries that are geared towards creating solutions that will work in this context is essential,” he explains. Additionally, he says, the trend is promising because South Africans have previously shown low levels of entrepreneurial activity. “The GEM report, which monitors entrepreneurial activity in various countries, www.gemconsortium.org108 has shown that South Africa has a worryingly low level of entrepreneurship despite high levels of unemployment.”

This is significant because although postgraduate study is not typically aimed at poverty alleviation, due to the investment required, a greater body of innovators can ultimately result in powerful initiatives that drive social change, Nair notes.

“The GSB is particularly geared towards social innovation, business model innovation and values-based leadership,” he explains. “Our focus is on training world-class leaders who can operate successfully on the African continent.

“Business schools hold a great deal of power to effect positive change, and it’s possible that aspirant students realise that.”

There are around 14,000 business schools globally, and South Africa has several that are accredited internationally, with the GSB business school being one of just three schools in Africa that are “triple-crowned” meaning that they have been endorsed by the three leading global accreditation bodies: the Association to Advance Collegiate Schools of Business (AACSB), Association of MBAs (AMBA) and the European Foundation for Management Development.

The GSB will be hosting Information Sessions all over the world to provide prospective students with an opportunity to gain insight into the school’s world class academic programmes. Applications open on the 1st May 2016. For queries or more information on the GSB’s Open Academic Programmes call 0860 UCTGSB (828472) alternatively +27 21 406 1922 (int) or www.gsb.uct.ac.za