(Source: University of Akron)As I've documented already, applications to full-time business-school programs continue to drop. Top schools don't have to worry about filling seats, but second- and third-tier schools face stiff competition, or worse---irrelevancy.



In response, many of them are creating M.B.A. programs focused on particular market niches, such as arts administration, real estate and sports management. Here's the thinking: If you want a general M.B.A., go to a top school, where the value of the degree will land you a job. But if you want to specialize in a specific field---say, health care---then choose a program targeting that industry.

It's good thinking, though not altogether novel. Higher education has always practiced replication but prized innovation. Look at law schools, for instance. Most have similar courses, teaching methods and program parameters, but every so often we'll read about something new---such as a two-year degree. Sadly, it's a risk only the more marginal schools are willing to take.

Now marginal b-schools are experimenting with market niches. Some call it daring; others call it survival.