The Business School in the Twenty-First Century: Emergent Challenges and New Business Models PDF
Preview The Business School in the Twenty-First Century: Emergent Challenges and New Business Models
The Business School in the Twenty-First Century Questionsaboutthestatus,identityandlegitimacyofbusinessschools inthemodernuniversitysystemcontinuetostimulatedebateamong deans,educationalpolicymakersandcommentators.Inthisbook,three worldexpertssharetheircriticalinsightsonmanagementeducationand newbusinessschoolmodelsintheUS,EuropeandAsia,ondesigning thebusinessschoolofthefuture,andhowtomakeitwork.Theylookat howthebusinessschoolischangingandfocusinparticularonemergent globalchallengesandinnovationsincurricula,professionalroles, pedagogy,usesoftechnologyandorganisationaldelineations.Setwithin thecontextofawiderdiscussionaboutmanagementasaprofession, theauthorsprovideasystematic,historicalperspective,analysingmajor trendsinbusinessschoolmodels,andreviewingawealthofcurrent literature,toprovideaninformedanduniqueperspectivethatisfirmly groundedinpracticalandexperimentalanalysis. howard thomasisDeanandLKCSBChairinStrategicManagement attheLeeKongChianSchoolofBusiness,SingaporeManagement University.HewasDeanofWarwickBusinessSchool(2000–10)and,prior tothis,hewasDeanoftheCollegeofCommerceandBusinessAdminis- trationattheUniversityofIllinoisatUrbana-Champaign(1991–2000). peter lorange isPresidentoftheLorangeInstituteofBusiness, Zurich,andisoneoftheworld’sforemostbusinessschoolacademics. HeisProfessorofStrategyatIMD,Switzerland,andwasthePresident ofIMD(1993–2008).Priortothis,hewasPresidentoftheNorwegian BusinessSchool(BI)inOslo. jagdish shethistheCharlesH.KellstadtChairofMarketinginthe GoizuetaBusinessSchoolatEmoryUniversity,Atlanta,wherehe wontheschool’sGlobalInnovationAwardinJune2008.Professor Shethisaninternationallyrecognisedbusinessconsultantandhas beenaneducatorformorethanfortyyears. The Business School in the Twenty-First Century Emergent Challenges and New Business Models howard thomas peter lorange jagdish sheth UniversityPrintingHouse,CambridgeCB28BS,UnitedKingdom CambridgeUniversityPressispartoftheUniversityofCambridge. ItfurtherstheUniversity’smissionbydisseminatingknowledgeinthepursuitof education,learningandresearchatthehighestinternationallevelsofexcellence. PublishedintheUnitedStatesofAmericabyCambridgeUniversityPress,NewYork www.cambridge.org Informationonthistitle:www.cambridge.org/9781107013803 ©HowardThomas,PeterLorangeandJagdishSheth2013 Thispublicationisincopyright.Subjecttostatutoryexception andtotheprovisionsofrelevantcollectivelicensingagreements, noreproductionofanypartmaytakeplacewithoutthewritten permissionofCambridgeUniversityPress. Firstpublished2013 PrintedintheUnitedKingdombyCPIGroupLtd,CroydonCR04YY AcataloguerecordforthispublicationisavailablefromtheBritishLibrary LibraryofCongressCataloguinginPublicationdata Thomas,Howard. Thebusinessschoolinthetwenty-firstcentury:emergentchallengesandnew businessmodels/HowardThomas,PeterLorange,JagdishSheth. pages cm Includesindex. ISBN978-1-107-01380-3(Hardback) 1. Businessschools. 2. Businesseducation. 3. Management–Studyand teaching. I. Lorange,Peter II. Sheth,JagdishN. III. Title. HF1111.L6682013 650.07101–dc23 2013013775 ISBN978-1-107-01380-3Hardback CambridgeUniversityPresshasnoresponsibilityforthepersistenceoraccuracyof URLsforexternalorthird-partyinternetwebsitesreferredtointhispublication, anddoesnotguaranteethatanycontentonsuchwebsitesis,orwillremain, accurateorappropriate. Contents Listoffigures pagevi Listoftables vii Preface:Tippingortripping?Thebusinessschool anditsdilemmas viii Acknowledgements x 1 The businessschool: history, evolution and thesearch for legitimacy 1 2 Business schoolidentity and legitimacy: its relationship to the modern university and society 52 3 Rethinkingmanagementeducationanditsmodels:acritical examinationofmanagementandmanagementeducation 90 4 Aframework for re-evaluating paradigms of management education 137 5 Evaluating new and innovative models of management education 167 6 Is the businessschool aprofessional service firm? Lessons learned 197 7 Enhancing dynamic capabilities in the businessschool: improvingleadership capabilities in curriculaand management 240 8 Afterword: business school futures 267 Index 272 v Figures 1.1 Theriseandfall(?)ofthe‘businessschoolindustry’ page 24 1.2 Differentiationfactors 28 3.1 Impactsandimplicationsofkeydrivingforces 96 3.2 Competitiveforcesanddynamicsforbusinessschools 119 4.1 Threat-versusopportunity-driventransformation 140 4.2 Broadeningthemarketandthemissionofbusiness schools 146 4.3 Augmentingselectionanddevelopmentvalue 157 4.4 TheShethmodelofbusinesseducation 162 5.1 Differentmodelsofmanagementeducation 169 5.2 Aglobalbalancednetwork 186 6.1 Thekeyorganisationalcharacteristicsandchallenges ofPSFs 215 7.1 Thebusinessecosystem 248 7.2 Dynamiccapabilitiesandtheirmicro-foundations 250 7.3 DynamiccapabilitiesatApple 252 7.4 Innovativeleadercapabilities 253 7.5 Aninteractionistmodelofbusinessschoolleadership andleadershipcharacteristics 256 vi Tables 1.1 Apartial‘map’ofEuropeanmanagementeducation page 11 1.2 Asianbusinessschoolsintop100oftheUTDallas rankings(2007–11) 16 1.3 Evolutionofbusinessschoolsasasocialconstruction process 18 1.4 BroaddifferencesbetweenAsian,EuropeanandUS businessschools 26 1.5 FTrankingsofMBAprogrammes(1999–2005) 33 1.6 RelativeperformanceofUSandEUbusinessschools 36 1.7 Mappingofglobalbusinessschools 42 2.1 Someimperativesforanewbusinessmodel 84 2.2 Implicationsforbusinessschools 85 3.1 Forecastofthelargestglobaleconomiesin2015 107 6.1 Configurationsoforganisationformandstrategy formationprocess 208 6.2 Threegenerictypesofprofessionalfirms 210 6.3 KeyfeaturesofPSFs 212 6.4 Mechanismsforsignallingthequalityofprofessional services 220 6.5 Managingthechallengesfromknowledgeintensity 222 6.6 Strategiesformanagingchallengesfromlowcapital intensity 228 6.7 Strategiesformanagingchallengesfromaprofessionalised workforce 231 vii Preface: Tipping or tripping? The business school and its dilemmas Eventhemostcursoryperusalofthisbookwillrevealthatitdeals withanindustrythat,ifnotactuallyincrisis,iscertainlysuffering fromabadcaseofexistentialangst.Theindustryinquestionisthe educationofmanagersandthesubjectsarebusinessschools,the mainpurveyorsofmanagementeducation. As this book attempts to explain, business schools are in the lineoffireofmanycriticsandstakeholdersformanyreasons.Itis anoddpositionforthemtobein.Businessschoolsareinthemain fairlyaugustinstitutionsthatcantracetheiroriginsbackalongway (manycelebratedtheircentenaryjustafewyearsago,though withremarkablylittleexternalfanfare). So what are they allegedly doing so wrong? Well, according to theircritics,justabouteverything. Forexample,theyaresaidtobefartoodriven(foranacademic institution)bytheneedandthedesiretomakeaprofit.Theyare accusedofpursuingaspuriousacademicrigourthatleadstoesoteric researchthathaslittlerelevancetotherealpracticeofmanagement. Indeed,itisarguedthatattendingabusinessschoolprogramme neveractuallymadeanyoneabettermanager.Somemaintainthat managementisanartandnotascienceandisnotevenaprofession sinceithasnowidelyacceptedbodyofknowledgethathastobe mastered,unlikein‘real’professionssuchasaccounting,medicine andlaw. ThatsuchcriticismcomesafterwhathasbeenaGoldenAgeof somefourdecadesforbusinessschoolsissurprising.Inthelatterpart ofthelastcenturybusinessschoolsenjoyedenormousfinancialand reputationalsuccess.Itdisappearedinthecrashesoftheearlytwenty- firstcentury.Firsttherewasthedot.comboomandbust(which wasneverthefaultofbusinessschoolsandinwhichtheysuffered viii
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