Changing management paradigms: implications for educational institutions

The greatest competitive challenge facing companies today is said to be embracing change. The business environment is in constant flux and companies must grapple with a host of new realities. This backdrop of change has catalyzed a reassessment of traditional managerial concepts and practices. Aims to trace the evolution of a new management paradigm and identifies its main drivers.Design/methodology/approach – The paper provides narrative and analysis.Findings – Assesses the implications of the change in management paradigms for the educational system, highlights needed adjustments in orthodox management education and lingering challenges for management education providers.Originality/value – Provides help in understanding the perspectives of the various business stakeholders that can help academics allocate resources and design programs that cater for the needs of managers in the 21st century.