What Does Brexit Hold for MBA Students & B-Schools?

What does Brexit hold for MBA students and Business Schools?  How will Britain’s parting of ways with the European Union affect management studies? These are some of the questions that keep popping up in higher education circles.

Simon Mercado, the Dean/Director of ESCP Europe Business School (London), in an interview to TopMBA provides some of the answers.

ESCP, an international business school has, over the past 200 years, grown from its roots in France to a pan-European institution with campuses in Berlin, London, Madrid, Paris, Turin and Warsaw.

Ahead of Brexit, the school has organised ‘Rethinking Europe’ events, a series of talks focusing on its impact on the higher education sector and beyond.

Mercado says that according to most schools, a full EU member status makes it easier to sell courses internationally, access other EU markets as providers, and employ and/or collaborate with European experts.

It also opens critical funding streams for research (for example, Horizon 2020, the biggest EU Research and Innovation programme ever with nearly €80 billion of funding available over 7 years from 2014 to 2020) and opportunities for faculty and students to gain international experience through longstanding programs (for example, Erasmus+ funding to work with partners in other countries to deliver their projects).

This has a positive impact on our academic standards and our economic and social contribution. Some benefits can be felt outside of the EU but are subject to negotiation and a softer form of Brexit, he points out.

About ‘Rethinking Europe’ event series, he said it was inspired by the late Mme. Nicole Fontaine, former President of the European Parliament, who worked closely with ESCP Europe in developing the book, Brexit: An Opportunity? Re-Thinking Europe. It was inaugurated in November 2017.

Since then, events have been held at the London campus, in Westminster, and other ESCP Europe campuses, on themes like ‘Brexit and Migration’ and ‘Brexit and Higher Education’.

He said the students closely follow EU affairs. The school’s Start@Europe seminar on Master in Management (MIM) takes around 800 students to Brussels for a negotiation simulation each year.

Since the referendum in 2016, the school has widened its supporting executive development with companies such as Saint-Gobain besides working closely with the French Chamber of Commerce in Britain and its Brexit forum.

Asked if the effects of an impending Brexit was being felt in the London campus, he said there has been a loss of momentum in several business sectors, especially investment projects that have gone into limbo.

Confidence has been shaken over the future of the UK economy and graduate prospects, especially in a hard Brexit scenario, he added.

EU nationals on the faculty and administration teams were concerned over their future. Some of the students were confused about how the rule changes might affect them. Meanwhile, the fall in the value of the pound has given a little bit of a boost to student numbers.

As part a European school group with largely continental presence, ESCAP does not have the worries across UK Higher Education (UKHE) about issues like Erasmus+ participation, Horizon 2020 participation and possible international fee/visa status for EU nationals.

The major challenge will be to ensure the school continues to form a bridge between the UK and Europe. The school’s mission in the UK will remain focused on connecting the economies and management talent and on offering a home for those looking to invest in their European identities and in a European future.

The students cross borders as part of the same school and degree program. There is no dependency on inter-institutional mobility or Erasmus funding.

Asked what he felt were the biggest challenges the school may face in the post-Brexit UK, he said ESCAP’s ability to offer world-class rotational degree programs that move students from one European location to the next was massively assisted by the European market framework.

A constant cross-border flow of students, faculty, capital and educational service is eased by the basic freedoms of the Single Market and the mutual recognition of educational qualifications.

A softer variant of Brexit will help, especially one committed to preserving freedom of movement for young people for the purpose of education and training, he added.

The major challenge will be to ensure the school continues to form a bridge between the UK and Europe. The school’s mission in the UK will remain focused on connecting the economies and management talent and on offering a home for those looking to invest in their European identities and in a European future.

ESCP Europe was in a unique position to provide a place where European identity can be built as well as a point of entry to European higher education. The school will be able to function as a centre of expertise in Europe and as a connection to the continent, especially for the UK business community and for young people proud of their European identity.

Mercado holds the school’s international outlook as pivotal to its success. With a presence in six countries, rotational degree programs and commitment to international management education, ESCAP has a clear and distinct mission focused on the production of tomorrow’s international business leaders skilled at preparing participants for “connected” business futures.

Its approach to management education consciously blends humanities, languages and management education to produce graduates with a deep understanding of the role of business in society and an ability to manage across cultures, he added.

being an international business school with a strong sense of European identity,  all the students’ attend classes in at least two ESCP Europe campuses and are taught by faculty integrated into European academic departments.

Student flow between campuses has never been stronger. This year 1,500 students will complete study blocs at the campus in London. The school has European students mixing with those from the Americas, Africa and Asia.

International students contribute to a diverse student body and thriving society, culture and economy – on campus, in the city and across the UK.