Challenges facing business schools in the future

Purpose Forward‐looking schools around the world are beginning to implement changes to their curricula, their marketing strategies, their alliances and partnerships to face the challenges of the increasingly competitive business education market of the future. This paper seeks to identify success factors for business schools in their competitive environment, and to provide some recommendations for higher education in the future. Design/methodology/approach The paper outlines the current challenges faced by business schools and those posing a threat for their success in the future. Furthermore, the paper proposes tools and strategies for facing these challenges. Findings The successful business school of the future will offer innovative programmes, backed by the appropriate resources to guarantee an excellent faculty body, an international experience and a multi‐cultural environment to its students. At the same time, successful business schools will seek accreditation and quality improvement programmes to prove to the market that they are committed to excellence and innovation. Originality/value The paper encourages business schools to ensure an adequate level of resources to concretize their mission statements and afford qualified faculty, to globalize their faculty and student body but also their curricula, to create links with other schools and companies, and to train students to become globally responsible leaders.