International Journal of Higher Education Management

Education is to serve a purpose otherwise it becomes meaningless. Since it creates awareness, therefore, has been the priority of mankind ever since their emergence and will continue to be so in times to come. Society gazes at the end result i.e., how well universities prepare the graduates for their professional lives. This notion decides the very purpose and foundation of any education system. Business education is to give skills to young entrepreneurs to run businesses, operate factories and manage organizations. This means objectives-based business education which is possible when there is perfect synch among business schools, corporate sector, and society.

In student centricity approach, the business schools need to produce graduates with corporate outlook who could develop enterprises. The main factors to produce professionals include curricula, faculty, infrastructure and above all vision of the business school. COVID-19 has given new experience to business schools i.e. operating under off-campus environments. Obviously, this ‘New Normal’ is different as entrepreneurial practices have been reshaped. This paper outlines curricula of business education to reemphasize employment of technology in education and its management.

The study shall enable the business schools to harness the curricula with new realities of quality education and competitive skills. Accordingly, the study takes into account the stakeholders like students, faculty members, people from the corporate sector, parents, government officials and members from the civil society. Despite having different views, the stakeholders agree to the need of adopting different approaches for quality business education under ‘New Normal’

The rapidly growing use of technology in education is changing the way knowledge is produced, stored, and distributed to students locally and globally. Today, learning is no longer solely deployed in a physical classroom due to the increased rate of student’s enrollment in online education for various reasons. The nation's educational system greatly benefits from internet-enabled distance learning, also known as online education, by liberating students from the usual available options of on-campus degree programs such as commuting to school, preparing their day for courses, and being physically present during each cycle of their coursework. The necessity of Knowledge Management (KM) to facilitate online learning has received higher attention within the educational arena in the last years. Knowledge management of organizations will determine the processes that the knowledge will be retained, exchanged, and enriched over years. Additionally, knowledge management has been defined as the process that enables the organization to create, store, transform and exchange knowledge within the organization. Universities face challenges in creating and exchanging knowledge, these challenges resulted from the lack of KM strategies to organize KM in all directions.

 As per various educational theories universities should adopt knowledge-based theory to improve competitiveness and improve performance. The theory is based on discovering knowledge, its acquisition, creation and dissemination and transmission of this knowledge through teaching. Moreover, retention rates at higher education institutions remain a focus in this present pandemic era and data from the United States (U.S.) Department of Education (2021) revealed an overall drop for full-time students in 2020, from 76.1 percent in 2019 to 75.7 percent. For part-time students, there was an even more significant drop, from 46.5 percent in 2019 to 43.5 percent in 2020. For educational institutions, it is imperative to understand the causes of lower retention, and the way higher education institutions could overcome this challenge. One method that is being pursued by higher institutions is online education, as a note online education is now accepted as the “wave” of the future, knowledge is being distributed across both space and time.