Without a doubt, business schools have been a success story in higher education over the last 50 years (the period of EFMD’s existence). Even so, they have come under scrutiny, and attack, over their academic legitimacy and value proposition for business and society.
The economic crisis has prompted many to call for a greater emphasis on studying the history of business and management. Morgen Witzel looks at the lessons that could be learned and why they are so important.
Sir Richard Lambert suggests four key issues. What does business want from business schools? The answer is: “exactly what it has always wanted” – great graduates and relevant ideas.
The Financial Times’s Della Bradshaw tells George Bickerstaffe that people need to be more relaxed about business school rankings. She has been called the most important woman in management education – and occasionally other, much less flattering, things.
Did business schools cause the economic crisis? No, says Gerard van Schaik, but they have a key role in determining what comes next. We are in a global economic mess and we know it is man-made. If we want to get out of the present chaos we will have to manage it ourselves; nature will not do it for us.
Arnoud De Meyer argues for a new approach to meet new challenges – transforming business schools into ‘Schools for Business.’ The last ten years have been a golden era for business schools. But I am convinced we have reached a watershed.
Chris Pitelis calls for a re-imagining of business education and business schools so they can help build a better and brighter future. Business education is relatively young, about 140 years old. It started as a case study-based approach with little by way of conceptual foundations.
Eric Cornuel, Director General & CEO of EFMD, analyses the complex issues faced by Europe’s higher education sector, particularly business schools. The main goal of any higher education institution should be to deliver (and continually enhance) excellence in teaching and learning and to combine the values of a liberal education with the professional qualifications required in a global economy.
Gordon Shenton and Patrice Houdayer describe how the Bologna process, along with European-specific accreditation and ranking systems, is revolutionising the European ‘market’ in Masters degrees and giving it global competitiveness.
Kai Peters and Howard Thomas argue that the current business model of business schools is financially unstable and probably unsustainable. At the core of each business school, a dialectic takes place between two distinct purposes – the goal of producing knowledge and the goal of educating students. Individual institutions have different views.
Kai Peters, Howard Thomas and Rick Smith suggest that while much has been written about business schools from historical and critical perspectives not enough has emerged from an additional viewpoint – the lens of the business of business schools.
Santiago Iñiguez argues that what business schools need today is multi-faceted and well-rounded faculty. When the Olympic Games were founded in Ancient Greece sometime during the eighth century BC, the king of sports was the Pentathlon.
Is it time for a change in faculty recruitment and promotion practices? Edeltraud Hanappi-Egger describes how, and why, business schools need to take into account multiple aspects of performance. Masters degree – PhD – postdoc – assistant professor – full professor.
How can we make academic research into management more relevant to practitioners? Andrew Pettigrew has some suggestions. There is, to say the least, some scepticism throughout the management community about the impact of management research – who listens, who notices, what consequences does it have?
Michel Kalika and Gordon Shenton explain why business schools not only talk about impact but are learning how to make a better job of assessing it. Business schools refer more and more frequently to the issue of impact when defining their mission/vision/strategy.
Jean-François Manzoni explores an international business school’s experience with the EFMD Business School Impact System. In 2017, IMD adopted the tagline “Real Learning, Real Impact,” reflecting the institution’s orientation towards having a significant and sustainable impact on individuals, organisations and society.
Thomas Bieger explains how the University of St.Gallen used the new Business School Impact System to consolidate and build on its local roots. Imagine you are the chief executive of an airport whose customers are rather dispersed.
Patricia Bradshaw and Erin Elaine Casey describe how the BSIS process has helped herald the impact of the Sobey School in Canada, the first business school in North America to utilise the system.
Management is not only taught in business schools. For more than 100 years it has also been taught by a special type of university that is ‘more than a business school’. An international group of university leaders trace the emergence, role and future contributions of ‘universities for business and management’.
"Socially Responsible Scholarship", Anne S Tsui suggests how business school scholars can overcome the growing criticism of irrelevant and self-serving research. For the past 25 years, business school research has been criticised for its serious disconnection from the world of business practice.
Paul Beaulieu explains how, in response to a new wave of social demands, business schools should adopt a more comprehensive and responsible social engagement. This may pave the way for the emergence of a new generation of business schools.
Business schools – and the businesses they serve – need to discover a “second curve” if they are to survive and prosper. When I last spoke to the EFMD conference in 1974 my talk reflected my own personal dilemma.
Ken Starkey and Howard Thomas report on a groundbreaking workshop that debated the mounting criticism of business schools and where they might go from here. We live in turbulent and complicated times and business schools are not immune to the uncertainties that now afflict so many aspects of our social and economic lives.
Santiago Iniguez explains why business schools and corporations must accommodate the increasing role of technology in education. Technology, in parallel with developments in cognitive psychology and education sciences, is producing a formidable paradigm shift in the learning process and the mission of educators and, of course, in business schools.
Howard Thomas argues the case for integrating the liberal arts into management education so that the existing curricula emphasis on technological and analytical acumen is balanced with skills of critical thinking and ethical intelligence necessary for managerial judgment.
Jordi Canals looks at the main drivers of business schools’ success in the 20th century along with some of the major problems and challenges they will have to deal with in the future if they want to remain relevant. Business schools are young institutions.
Do not be lulled by today’s strong management education market, says Johan Roos. Business schools still need to find a grander vision of hope, change and community to counter emerging shadows. Business school deans are smiling and optimistic these days. Things have improved since the 2008 crisis.
We should approach the future, respond to crises of the pandemic, and technological change, in a thoughtful, well-considered and purposeful manner, not an impulsive one. This requires a more strategic and purposeful, resilient approach. The cause and the goal of this resilient effort is to develop a more holistic and balanced model of management education.