Make imagination a part of MBA programs

“Imagination is more important than knowledge.”
"Logic will get you from A to B. Imagination will take you everywhere.”
"The gift of fantasy has meant more to me than my talent for absorbing positive knowledge.”

Albert Einstein

The above three quotes on imagination by Albert Einstein demonstrate the power and importance of imagination. The business world is facing the onslaught of BENI and VUCA times. BANI is an acronym for "brittle," "anxious," "nonlinear," and "incomprehensible." VUCA stands for volatility, uncertainty, complexity, and ambiguity.

The businesses cannot run as usual and need newer ways of thinking and applications to navigate these environments. Business education needs to create graduates who can think and act imaginatively to help businesses navigate the VUCA and BANI times.

It is high time that imagination was made a part of MBA programs. It will not only help solve the problems of the business world but also help business schools face the increasing questioning of the value added by business education and business schools. It will also help business schools in facing one of the major challenges namely the problem of placement.

Also Read: Strategy is not what Business Schools Say; Strategy is What Business Schools Do!

Once it is decided that imagination needs to be part of the MBA programs, the challenge of teaching imagination arises. Luckily, it is possible to teach imagination. There are various ways to develop imagination in MBA students. Imagination can be developed through meditation, guided daydreaming, storytelling, creative games, the use of theatre, role-playing, and so on. It is not that difficult to teach imagination.

Teaching imagination is not tricky. The focus needs to be on developing students' imaginations and teaching them how to use imagination in thinking and problem-solving in real-life business scenarios. Students should be encouraged to apply their imagination in complex problem-solving scenarios not only in business but also in other situations, such as geopolitics. This practice of using imagination regularly will help students make it a habit.

This way, business schools can create and add value to the business world in navigating challenging environments.