Innovations in Experimental Learning – A Study of World Top Business Schools

Innovations in higher education include improvements in existing pedagogies and developing new pedagogies based on the subject to be taught. Depending on the age, gender, regional background, the effective teaching and learning methods may be different. Business schools are providing higher education to improve the necessary skills of the student either to start new a business or to manage an existing business effectively by means of making effective decisions on a business problem by considering the business environments effectively. Experimental learning is a new pedagogy in business management learning method where students are exposed to real business problems and made them as part of decision-making team. Such exposure in real-world problems will improve the risk taking ability and the confidence of the students while becoming an entrepreneur after their graduation. Based on the success of experimental learning method introduced in many business schools, the method is becoming more and more popular and is finding a place in the pedagogy of many top level Business schools in the world. In this paper, we have made an empirical study on adopting experimental learning scenario in some identified top business schools in the world. We have collected information from the website of top 25 Business schools based on recently announced B-school ranking and studied their effort and results of such method adoption in a curriculum.