Over the past few decades, globalization—the closer integration of countries and peoples—has been a powerful engine of economic growth, improving global health and lifting millions out of poverty, as well as increasing efficiency. Expanding cross-border collaborations and knowledge exchanges have empowered countries to address critical societal issues.
However, globalization has also been blamed for widening income inequality within and between countries, weakening communities, and fueling social and economic discontent. Some people connect environmental degradation and climate change at least partially to the rise of global supply chains and the increasing mobility of people. Dissatisfaction with globalization opened the door to nationalism, trade wars, and geopolitical tensions between major powers, contributing to the fragmentation of global cooperation. Many countries have been reconsidering their roles in the world economy, prioritizing domestic interests over international cooperation. While the world is more connected than ever and globalization remains a powerful force, what will happen next is unclear.
Like other organizations, business schools will be affected in myriad ways by the changing global landscape. The path of globalization shapes what business schools teach and the way they organize to teach it. It impacts the distribution of internationally mobile students, markets for executive education, faculty hiring, research collaborations, financial models, and more. Navigating the uncertainty and changing environment will require schools to be agile, entrepreneurial, and resilient.
Now, while the future of globalization may be uncertain, the need for innovation is not. As technological advancements, climate change, and social inequality continue to shape the global landscape, innovation will be crucial to addressing relevant challenges. In this period of increasing uncertainty, I encourage business schools to continue channeling energy and resources towards innovation.
We know that innovation thrives when ideas and talent flow freely across borders, enabling communities and organizations to leverage diverse perspectives, skills, and resources of people around the world. By capitalizing on globalization, business schools have equipped students with the skills and mindsets needed to collaborate across borders, generated useful research, and strengthened connections between industries and communities. But what happens if international mobility shrinks, and the world economy becomes more fragmented?
What can business schools do to maintain and grow their impact on innovation even while the future of globalization is uncertain, and potentially in retreat? I offer three suggestions, which taken together offer new perspectives on the role organizations like GBSN.
First, business schools are of course engaged locally as well as globally. They catalyze innovation by fostering local entrepreneurship that meets the specific needs of their communities. With international mobility shrinking, business schools can increase their focus on building strong local networks that connect students, faculty, and businesses. Through incubators, accelerator programs, and partnerships with local industries, schools support entrepreneurs in developing innovative solutions tailored to local challenges, such as healthcare, sustainability, and education. By empowering local talent, business schools help build resilient economies that are less dependent on global markets.
Second, even in a fragmented global economy, business schools still play a key role in bridging the gap between private enterprises, governments, and civil society organizations. By creating platforms for collaboration between these sectors, schools can drive innovation in areas that require collective action, such as environmental sustainability, digital transformation, and social equity. Schools can facilitate dialogue, joint research projects, and problem-solving initiatives that bring together diverse stakeholders, encouraging the development of innovative solutions that can address complex, multi-dimensional challenges at the local level.
Third, even as international mobility shrinks, business schools can use digital tools to maintain global collaboration and knowledge exchange. By adopting online learning platforms, virtual exchange programs, and remote research partnerships, business schools can continue to connect with global experts and thought leaders. This approach allows schools to sustain a global perspective, despite geographic constraints, while also enabling students and faculty to access international insights and innovative practices that can be adapted to local contexts. Leveraging digital connectivity ensures that schools remain a catalyst for innovation even in a more fragmented world.
Taken together, the three strategies offer new perspectives on the role of organizations like the Global Business School Network (GBSN). Perhaps counterintuitively, the focus on innovation even as globalization retreats makes our work more important rather than less. Organizations like GBSN build bridges between local entrepreneurship and innovation ecosystems, helping them to share knowledge that can accelerate progress. GBSN cultivates important partnerships across sectors at an international level. For example, collaborations with the International Labor Organization (ILO) and World Intellectual Property Organization (WIPO) have contributed vital teaching resources for local contexts. Finally, through programs such as the Africa Business Concept Challenge, GoTrade Fellowship Program with DHL, new Global Business Student Changemakers, and a range of faculty impact communities and development activities, GBSN provides the infrastructure and support to virtual connections across schools.
By strengthening their focus on local innovation systems, building multi-sectoral partnerships, and supporting virtual programs, while participating in global networks and maintaining robust international collaborations, business schools can continue to thrive and make a positive impact and a complex, ever-changing world.