The Dispatch
Gen Z’s business school wish list
The new generation of students in business schools are prioritising ethics, sustainability and mentorship as they look to enter the working world.
By Niamh Ollerton
Each generation of students have different needs and ways of learning.
The evolving world is the most defining factor for these changes in attitudes and desires: with changes in technology, social norms and cultural influences all contributing. It is because of these generational differences that universities and business schools need to prioritise understanding who their students are to ensure the best learning environments for the students of today and the future.
With this in mind, what lies ahead for Gen Z students? What do they want and need in their education to become leaders, thinkers and entrepreneurs in the future?
As the first generation born into a world where technology is always-on and readily available, Gen Zs are used to getting information and communicating with their peers in real-time. They learn best by doing, preferring hands-on activities that will engage them in the learning process, while also preferring social learning environments.
According to GMAC’s ‘Gen Z in the GME Pipeline: Explain Why It’s Worth It’ study in 2023, Gen Zs seek engagement with different perspectives and the development of solutions to real-world issues in the classroom. Personal interactions, learning from other cultures and applying learnings to solve actual problems are also elements of participants’ ideal GME programmes.
“After [COVID lockdowns], students are even better at speaking about themselves, their intrinsic skills and their ability to overcome challenges. And recruiters have realised this!”
The COVID generation
A comprehensive discussion of Gen Z students’ experiences and aspirations for their future must necessarily address the COVID-19 pandemic and its impact on their studies.
There is life before and after COVID. Gen Z students experienced the altering of normal life experiences like never before. Many students didn’t experience an in-person graduation, with the vast majority of students undertaking the first few years of their higher education studies completely online.
Despite the ordeal, Gen Z graduates and employees emerged equipped with a demonstrably strong skillset in resilience and adaptability.
Isabelle Chevalier, Director of NEOMA’s Talent & Career Department echoes this sentiment: “After [COVID lockdowns], students are even better at speaking about themselves, their intrinsic skills and their ability to overcome challenges. And recruiters have realised this!”
Business schools therefore need to rethink their programmes to meet the expectations and aspirations of the next generation of leaders.
According to the GMAC 2023 Prospective Students Survey, 87 percent of Gen Z prospective students want to study in person compared to 72 percent of millennials.
Gen Z respondents described the importance of practical application in their graduate management education, suggesting curricular programming like running mock businesses or participating in experiential learning opportunities, which they hope will make them more competitive in the labour market upon graduation.
Some GME candidates want general business knowledge that’s transferable across industries, while others are hoping to specialise through their master’s programme. Given many are in the early stages of thinking about their careers - and the fact that the labour market has been somewhat volatile during the beginning of the 2020s - they are most interested in giving themselves options in the future.
From the mouths of Gen Z students: What do they want?
Eliott Even studies a Master’s in Management at INSEAD’s Singapore campus. Born and raised in Singapore by French and Spanish parents, his passion for cutting-edge technologies pushed him towards completing a Bachelor’s in Aerospace engineering at INSA Lyon in France.
However, recognising the pivotal role of the human element in organisations, he decided to pursue international management education through INSEAD’s Master's in Management programme.
Even says he prioritises continous learning in a future employer. “I expect to be allocated an appropriate amount of responsibility and I want to continue being challenged by dealing with complex problems,” he adds.
“I also look forward to the possibility of seeking mentorship from people more senior within the company, from whom I would be able to emulate and look up to. Lastly, I would like to continue working with passionate and ambitious individuals who push me to excel.”
Even’s career aspirations lie in understanding about the functioning and financing of human endeavours. “I want to understand how people are able to convince one another through storytelling, and are able to bring in the right blend of talent in order to deliver value and influence how the future of our world is shaped. I hope I will be able to learn every day for the rest of my career, may it be from collaborators, challenges or setbacks.”
Astrid Saint-Marc is also a Masters in Management student at INSEAD, but at the Fontainebleau campus in France. As a French and Indonesian who grew up in China and France, Saint-Marc says she loves to experience different cultures and meet people from various backgrounds because she finds that there is always more to learn by stepping out of her comfort zone.
As she researches the organisations she may like to work in following graduation, she already knows the type of employer she is looking for: “I'm looking for an employer with a good moral compass, where profit doesn't come with ethical neglect. I believe that good employers also value creativity and open-mindedness, as those are essential factors for nurturing confidence and teamwork.”
Saint-Marc’s aspirations lie in wanting to better understand different structural organisations of successful companies, and what it takes to manage teams and be a leader.
“This might sound repetitive nowadays, but coming from a background in environmental science, I want to apply the skills I learn in my professional career to help implement sustainable practices, no matter how small the scope of a project or job.
She adds: “Global environmental health is something that I take very seriously, and my career choices will strongly reflect my ambition to increase awareness of its importance in the corporate world.”
How is Gen Z redefining business?
Young graduates seek recognition, according to Chevalier. “They want people to listen to them and take them seriously even if they are young.”
NEOMA surveyed 450 students in the second year of the Master in Management, and when asked on their priorities when choosing an internship or a job, the top response was the salary and the associated benefits.
“Workload and job pressure are also concerns. This generation doesn’t want to work nights or weekends any more. At any rate, they are less accepting of it than the generations before them,” Chevalier adds.
Professor Dr Ger Graus OBE notes Gen Z is redefining business as a result of their contexts - having been born into an era of fast changing technology which required behavioural adaptability, self-confidence, and an openness to change. “This adaptability and self-confidence at times mix with impatience and intolerance of those less adaptable and prepared for change.
“There is a question as to how far Gen Z is actually currently redefining business that is too often risk averse. Perhaps the real change Gen Z will bring about comes later, when they are leading business.
“It remains to be seen whether Gen Z will be equally influential in leading change in empathy, social values, the charity and the NGO world. Will the head and the heart rule in equal measure?”
Katherin Kirschenmann, founder of ‘The DO’ and managing director of ‘The DO School’, which also launched beVisioneers, the Mercedes-BenzFellowship, also notes the importance of sustainability and morals for Gen Zers in the future of education and employment. “What we see globally, is that the next young generation of entrepreneurs is thinking differently about the purpose of their efforts than the last ones.
“Sustainability, equity and the importance of solving a problem often come first, before ideas about product market fit or an attractive business case. In short, the idea that business should solve social and environmental problems is a given for Gen Z.”
Gen Z is the first generation that grew up discussing and often experiencing the effects of the climate and environmental crisis first hand. Whether it's raising temperatures, extreme weather or plastic waste in the oceans, the topic has become personal, Kirschenmann adds.
“At the same time, Gen Z is connected via social media and has insights on trends and world affairs. This combination means that many Gen Zs are super motivated to change things through innovation in their communities and also are empowered to do so thanks to the ability to learn and connect online.”
To prepare for future leaders and entrepreneurs, Dr Graus says Higher Education and business schools need to become better at de-academising at least some of their provision.
“Universities and business schools need to connect more with reality, not just the one that comes easy, but in particular with the one that is challenging. Becoming a leader is not an academic exercise.
“Being a leader is about intelligence, empathy, and experience first and foremost. Being an entrepreneur is about the ability to see and take calculated risks. Neither come from books alone.”
