Emerging Opportunities for Business Schools

Intersection between Academe and Practice


There is a gap between collegiate management education and practice. This has led to the creation of practice fields that are driven by expectations from organizations and facilitated by increasing access to assessments and content so that schools can focus on developing skills.

As business schools have increased their academic strength, a significant space of opportunity has emerged between collegiate management education and practice. Business schools have an opportunity to work with business to create new initiatives to fill that gap. This means building on the academic strength of business schools by connecting with practice, not reducing the commitment to scholarship. Imagine an undeveloped slice of land between two communities and using that land in a way that capitalizes on the strengths of each neighboring community.

One approach might be to continue building practice fields, which might provide platforms for field projects and simulations, and learning labs that are safer environments than the “real world” for failure and feedback as well as a bit riskier than the classroom. These practice fields also can be used to support innovation by providing a platform for developing and testing new products and services, as well as new management ideas, which in turn creates more value for companies and provides data for research. For entrepreneurs, business schools can work with other schools to enable students to study while building their business.

The future relationship between management practice and education will be less linear. Instead of thinking of business schools as feeders for companies, we will think of business schools more as partners to business. This will impact importunities for incorporating scholarly research and education into corporate learning programs. It means utilizing data analytics across both learning and business environments to increase value for recruitment, development, and retention. It means partnering with business to create social impact and learning at the same time, especially as learning is less defined by formal experiences, such as classroom time.

Related Resources

Neil Braun, Dean of the Lubin School of Business at Pace University, talks about how the Lubin School engages with business in program offerings, including the impetus for the creation of their Media Storm Master's program.

Who is the next generation of leaders at your school?
Andrew Policano talks about the challenge of finding and properly equipping the next generation of business school leaders.

Engaging the Corporate Community
Moez Limayem, dean of the University of South Florida Muma College of Business, shares the school's strategies for embedding faculty and students in the local business community.

New Model for Business Education, Inside Higher Ed
Interview with Daniel L. Everett and Gordon Hardy, both of whom edited a collection of essays which critique traditional undergraduate business education.

Reimagining Higher Education: How Colleges, Universities, Businesses, and Governments Can Prepare for a New Age of Lifelong Learning, Deloitte University Press
Explores the emerging landscape of higher education, and how an educational experience may look different in the future in regard to pedagogy, recruitment, admissions, learning trajectory, employment expectations, and other factors.

Global Human Capital Trends 2015: Leading in the New World of Work, Deloitte University Press
“Given the scope and speed of advances in cognitive technologies and robotics, there are opportunities for business and HR teams to collaborate with universities, technology companies, and industry suppliers and partners to understand what is coming and identify ways of working beyond the enterprise.”

Making Business School Research More Relevant, Harvard Business Review
Two b-school faculty members discuss five changes which could initiate a new era of highly relevant b-school research.

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