ABSTRACT
The governing body of the higher business education system in Latin America calls for innovative educational programs that could serve the business student cohort of the twenty first century. Essentially, the governing body of the higher business education system is made up of four types of institutions: an assortment of reputable business colleges established under very traditional public universities, relatively new private ones, professional institutes, and advanced technical training centers. Policy making at those levels is the responsibility of a Board of Directors supervised by the Ministries of Education. Such boards govern member institutions and grant university officials broad discretion to establish their institutions’ policies and manage their campuses. Along those lines, business deans have acknowledged the need to increase the academic stature of their colleges in light of current globalization challenges (Scott 2000). In turn, they are striving to encourage internationalization as a way to improve students’ understanding of the world and emerge as truly international academic institutions.
