This article is about MBAs, but there’s a particular point in here I want to highlight.
The Wall Street Journal previously reported that MBA programs, which had been a consistent source of steady enrollment and revenue for large universities, have experienced a decline in applications in recent years.
Along with new programs and supports such as “math camps” to shore up student math skills, most MBA programs now accept the Graduate Record Exam, which is structured to be more accessible to social science and humanities students, in addition to the traditional Graduate Management Admissions Test.
But in the next sentence…
About 90% of business schools now accept the GRE, up from 24% in 2009.
This is a major industry change, and it has only taken a decade. Systemic change is slow, but it demonstrates that if institutions truly want to adapt, and their adaptations succeed, their colleagues across the field will follow, and quickly.