Issue link: http://www.e-digitaleditions.com/i/499026
22 BizEd MAY | JUNE 2015 BY TRICIA BISOUX ILLUSTRATION BY STEPHANIE DALTON COWAN THE EVOLUTION OF THE WORLD'S poorest nations is well-reflected in the terms historically used to describe them. Political con- flict and poverty granted them only "Third World" status in the mid-20th century, before they transitioned into more promis- ing "developing countries" by century's end. Only recently has their entrepreneurial and economic potential turned them into "emerging markets." But "emerging " still might be too optimistic a term, says Sergey Myasoedov of the Russian Presidential Academy of Na- tional Economy and Public Administration (RANEPA) in Mos- cow. In Eastern Europe, many choose instead to use the term "dynamic societies," he notes. "We prefer that term because our countries aren't always moving in the right direction. We're still dealing with political and economic turbulence. We're still caught between an older generation with one system of values and a younger generation with a diˆerent system of values." In at least one sense, however, "emerging " is an apt descrip- tion. The word perfectly illustrates the nature of business edu- cation in these markets, where graduates with entrepreneurial and management training are in high demand. To meet that demand, business schools are enhancing their curricula, hiring faculty, producing region-specific research, and expanding their programs in entrepreneurship and social innovation. BARRIERS BREAKING How three business schools in emerging economies are promoting progress and advancing management education in their local markets.