Purpose -The purpose of this paper is to argue that recent changes in the wider contexts of universities and business schools signal a shift in their business model instead of a mere turn in their business cycle. Design/methodology/approach -The paper reviews the position of those that hold a traditionalist view of the business model of business schools and comments on the extent to which such a model applies to the ever-changing conditions that are a feature of the environment of institutions of higher learning. Findings -The paper argues that the process of globalization augments the effects of five sector-specific forces on the business model of business schools. Additionally, the paper identifies some structural factors that business schools might wish to address in order to cope with changes occurring in their wider environments. Originality/value -In addition to structural measures, the paper proposes a number of specific actions that business schools may implement to maintain and/or gain competitive advantage.
PurposeThe purpose of this paper is to propose a “change” stance towards the current situation of business education. Drawing on a theoretically embedded model, the authors hold a critical stance towards understandings of stability in the business education industry. In this respect, a model of change drivers is proposed for the industry and the authors elaborate on how business schools enact responses to comply with change pressures. Compliance with those pressures enables business schools to gain legitimacy from stakeholders and enhance their survival prospects.Design/methodology/approachThe authors’ theoretically‐informed analysis draws on a combination of literature review and personal observations of business schools’ behavioural patterns.FindingsThe authors submit that the business school industry experiences four main sources of change: multi‐polar competition, new organizational species, content and mode of education and institutionalization. These sources of change impact on the fading margins of business schools. Drawing on the insights of the evolutionary model, the authors suggest that business schools engage in a process of continuous change and adaptation to these sources of pressure. In this manner, they conform to the adaptation model featured by the Red Queen metaphor; business schools must keep running and moving in order to stay in the same place.Practical implicationsThe paper proposes a roadmap of main change drivers, which business schools may take into consideration to provide a systematic response to environmental changes.Originality/valueIn contrast to authoritative statements and elaborations on the situation of the business education industry, the paper provides a theoretically informed, systematic model of change.
Purpose – The purpose of this paper is to address the lack of relevance of business school research and how the potential gap between research and practice may be related to the lack of interaction between faculty members and non-academic stakeholders (e.g. industry, professions, society). Design/methodology/approach – The review of the extant literature in this area is combined with the experiences and discussions with business school leaders from around the world. Findings – The problematization of the lack of relevance of business school research leads us to conclude that it is a case of reward folly; the authors hope for relevance to external stakeholders but the authors reward for relevance to academic stakeholders. Drawing on Stokes’ (1997) research taxonomy, the authors conclude that business-school research should combine internal and external validity, which would involve business school faculty performing rigorous and relevant research, and interacting with practitioners; that is, an “academic triathlon”. Social implications – Faculty members should conduct research and teaching activities as well as interact with industry, and act to disseminate their research findings among external stakeholders. Consequently this should have implications for both the academic structure at business schools and the resources available to faculty members. Proceeding in this way will result in the narrowing of the gap of understanding between faculty members and management, and ultimately, to bridge the gap between contemporary versions of the Agora and the Academe. Originality/value – The authors provide a taxonomy of stakeholders of business school research and outline changes in the structure of business schools, resources provided to faculty members and impact on accreditation agencies.
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