How Michigan Ross Plans to Shape Business Education for the Next 100 Years

The University of Michigan Ross School of Business is celebrating its centennial anniversary at a pivotal time in business education.

Artificial intelligence (AI) and other emerging technologies are rapidly reshaping the business landscape. Businesses and students alike are embracing sustainability to combat climate change. Student needs are changing, with a greater demand for flexibility following the COVID-19 pandemic.

Ross Dean Sharon Matusik told BestColleges the school is well-positioned to not just tackle those challenges but to shape the future of business education as it heads into its second century.

She said that Ross’ pioneering focus on action-based learning, coupled with its numerous centers in areas like leadership and entrepreneurship, helps the school.

It comes down to connecting the academic world to the business world, Matusik said in the interview.

Here’s how the top-tier school plans to impact the next hundred years of business education.

When the University of Michigan opened the doors of its business school in 1924, Calvin Coolidge was president, the nation was emerging from a deadly influenza pandemic, the Great Depression was still years away, and business education was in many ways still in its infancy.

Business schools began to launch in earnest in the late 19th century, but the first master of business administration (MBA) program wasn’t established until 1908 at Harvard University.

Ross’ first century saw its emergence as one of the country’s leading business schools.

This includes the work of William A. Paton, who helped forge the modern field of accounting, and an evolving degree landscape. The school has been particularly influential in emphasizing business’s potential for positive societal change — a point that more business schools are embracing.

Matusik said the idea of using business to build a better world has been a North Star for Ross. She also identified four main pillars that both defined Ross’ initial 100 years and will continue to serve the school going forward:

Business education in 2024 is vastly different than it was in 1924.

Schools are grappling with the rapid emergence of AI, incorporating science, technology, engineering, and math (STEM) into their curricula, and responding to student demand for sustainability education.

All of these points are areas where Ross can lead the way in business education, Matusik said. Ross’ position as one of the country’s leading research universities, coupled with its already strong programs and opportunities for students, positions it to shape well-equipped future business leaders.

Matusik said it all comes back to Ross’ long-standing focus on action-based learning. She said Ross is focused on not only preparing students to excel in a rapidly changing business environment but also having them consider ethics and social responsibility.

I think society demands that businesses be mindful of the larger impact and power that they have, Matusik said.

Ross recently added an environmental, social, and governance (ESG) concentration to its MBA program, complementing its already robust sustainability initiatives like the Erb Institute and reflecting student interest in sustainability.

The Erb Institute isn’t Ross’ only highly specialized focus area. The school boasts a number of institutes focused on innovation, leadership, finance and accounting, entrepreneurship, operations, and international business.

While other top business schools have no undergraduate programs and are distant from their respective campuses, Matusik noted that Ross is located at the heart of the University of Michigan and has long-standing partnerships with other divisions within the university like the College of Engineering.

Ross offers numerous dual degree programs in high-demand areas like computer science to prepare students with both business leadership skills and relevant skills for their careers. She also noted that Ross activities and clubs — like its high-pressure Leadership Crisis Challenge simulation — are open to the whole campus.

We’re trying to leverage the breadth of campus through dual degrees, through majors and minors, and through individual courses, Matusik said.

The school has also embraced flexibility in its rigorous curriculum.

Matusik said one silver lining from the pandemic was a push to deliver high-quality educational content in a flexible way. Ross has debuted several digital studios to help faculty build online curricula and give students a strong online experience.

It also means that Ross can further expand its already worldwide reach.

We can create degree courses that are hybrid, that are all via technology, Matusik said. It gives us a lot of degrees of freedom in terms of meeting the students where they are.

Matusik said looming global challenges aren’t going to be solved by one narrow area of expertise. They demand an interdisciplinary approach. She also underscored the importance of continuing to support Ross students once they’ve graduated.

We’re very committed to keeping connected and elevating the success of our graduates at all stages of their career, Matusik said.