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Securing the Future of Management Education: Competitive Destruction or Constructive Innovation?
     

Securing the Future of Management Education: Competitive Destruction or Constructive Innovation?

by Thomas Howard, Michelle Lee, Lynne Thomas
 

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ISBN-10: 1783509139

ISBN-13: 9781783509133

Pub. Date: 02/28/2014

Publisher: Emerald Group Publishing

This is the second of two volumes written to celebrate the 40th anniversary of EFMD. Drawing on interviews conducted with leaders in the world of management education, the first volume took a retrospective view, focusing on the evolution of management education and providing the context that led management education to where it stands today. It also synthesized

Overview

This is the second of two volumes written to celebrate the 40th anniversary of EFMD. Drawing on interviews conducted with leaders in the world of management education, the first volume took a retrospective view, focusing on the evolution of management education and providing the context that led management education to where it stands today. It also synthesized respondents' views on the strengths and weaknesses of the field, the challenges it faces, as well as lessons learned and not learned from the past. This second volume similarly draws on the very rich data provided by the same respondents, but is future-oriented and takes on the theme of change. It provides the reader with a sense of the challenges on the horizon, potential blind spots, and new realities of an increasingly competitive environment. It discusses a range of alternative future scenarios for management education, and urges the field to resist the lures of the dominant paradigm and to develop new models instead. The authors contend that, given the challenges ahead, it is only through transformations and innovations that the future of the field can be secured.

Product Details

ISBN-13:
9781783509133
Publisher:
Emerald Group Publishing
Publication date:
02/28/2014
Edition description:
New Edition
Pages:
240
Product dimensions:
5.90(w) x 8.90(h) x 0.40(d)

Table of Contents

Acknowledgements xiii

Foreword: Discussing the Future xv

Chapter 1 Introduction: Success and Failure in Management Education 1

Preface 1

Where does Management Education Stand? What is Its Current Positioning? 2

Introduction 2

AACSB Concerns 4

EFMD Concerns 8

Colby Report Concerns 9

Recent Books on the Strengths and Weaknesses of Management Education 11

The Evolution and History of Business Schools 11

Reform of Management Education 19

Addressing the Gaps in Specific Skills in Management Programmes 23

Specific Skill Gaps 23

Implications of Innovation for Educational Pedagogy 26

Leadership and Innovations in Business Schools 28

Current Views on the Future of Business Schools 32

Summary and Conclusions 33

Appendix 35

Chapter 2 Lessons Not Learned in Management Education 37

Introduction 37

Business Schools Must Reinvent Themselves 38

Business Schools and Research Conduct 40

Business Schools and More Innovative Graduates 41

Business Schools and Business School Deans 41

Business Schools and Future Trends 42

Lessons Not Learned in Management Education 43

Lessons About the Purpose, Rationale and Mission of Business Schools 44

Lessons About Management Research, Its Performance and Its Impacts 46

Lessons About Management Teaching, Pedagogy and Programme Delivery 49

Lessons About the Structure and Functioning of Business Schools 52

Summary and Conclusions 57

Hamel's Observations on Business School Lessons 57

Lessons Learned from Our Interviews with Management Education Experts 58

Chapter 3 On-Going Challenges Confronting Management Education 61

Introduction 61

Perceived Value of Management Education 63

External Challenges 65

Skills Demanded by Students and Employers 65

Lack of Relevance and Impact of Management Research 69

Competition and Reputation 70

Globalisation 72

Internal Challenges 73

Rigour in Research 73

Faculty 76

Lack of Change 78

Financial Sustainability 79

Other Challenges for Business School Models 81

Technology 81

Legitimacy and Value 81

Conclusions 82

Chapter 4 Future Scenarios for Management Education 85

Introduction 85

Possible Future Scenarios Described in the Extant Literature 85

Introduction to Scenarios Generated by Our Expert Panel 91

Best-Case Scenarios for Management Education Over the Next 10 Years 92

Improved Value to Stakeholders 94

Structural Changes in the Field 99

Most Likely Scenarios for Management Education Over the Next 10 Years 101

Structural Changes in the Field 102

Strong Competitive Pressures 104

Greater Scrutiny of the Value Proposition to Stakeholders 106

No Change 107

Worst-Case Scenarios for Management Education Over the Next 10 Years 107

No Change 108

Failure to Provide Value to Stakeholders 109

Damaging Effect of Competition 111

Constraints Imposed by the Structure of the Management Education Field 112

Summary of Scenarios 113

What Would Trigger Change in the Most Likely Scenario? 114

The Financial Model of Management Education 115

Lack of (Changes in) Demand for Management Education 116

Shortage of Faculty 116

Demand-Side Pressures for Change (External Threats) 118

Ideal Models of Management Education 119

Crucial Educational Fusion 119

The Agora Model 121

Vision 50 + 20 121

Summary and Conclusions 123

Chapter 5 Conjectures: The Road Travelled and the Road Less Travelled 125

Introduction 125

The Rhetoric of Legitimacy 126

Business Schools have Legitimacy 126

Unresolved/Unsure About the Legitimacy of Business Schools 128

Business Schools Lack Legitimacy 129

The Rhetoric of Ethics and Responsibility 131

Criticism Is Not Justified 133

Criticism Is Justified … for Some Schools 136

Criticism Is Justified 137

The Rhetoric of Globalisation 140

The Rhetoric of Growing Commercialisation of Higher Education 142

Growth of Private Sector Role in Management Education 143

Issues with Quality of Private Sector Providers 144

Competition from Private Sector Providers 145

The Road Less Travelled: Unmasking Potential Key Triggers for Change 146

The University System 147

The Curriculum in Management Education 149

Conclusion 150

Chapter 6 Blind Spots, Dominant Logics, Tipping Points and Critical Issues for the Future: Unfolding Gaps 153

Introduction 153

The Impact of Technology 154

Technology and the Severity of Change 157

The Geography of Learning - Where Students Learn 158

Modes of Learning - How Students Learn 159

Technology and the Incumbent Business School Model 161

The Relevance Gap between Academia and Practice 162

An Increasingly Academic Pursuit 164

Weak Links to the Business Community 166

The Rigour-Relevance Dilemma in Management Research 166

The Paradigm Trap in Business School Curricula 168

The Need to Realign the Value and Purpose of Management Education with New Realities 169

An Outdated Dominant Design 170

The Need to Define New Terrain and New Models 170

Ethics, Corporate Social Responsibility and Sustainability 172

The "Bolt-on" Approach 174

Lip Service and Slow Reaction 175

Integration into the Curriculum 175

Leadership by Business Schools 176

The Entrepreneurship "Blind Spot" 177

Innovation in Business Models and Management Practices 179

The Need for New Business Models 180

The Design of New Business Models 181

The Leadership "Blind Spot" 181

Leadership and Leadership Skills Development 182

The Leadership Characteristics of Deans 183

Globalisation in Transition - The "Glocalisation" "Blind Spot" 184

Conclusion 186

Chapter 7 Uncertain Futures: What Should Business Schools Do Now? 189

Introduction 189

Consistent Themes 189

Adaptability of Management Education and Its Capacity for Change 192

Barriers to Change 192

Triggers for Change 195

Responding to the Challenge of Change 197

External Challenges 197

Internal Challenges 199

What Must Management Education do to Produce Better Managers? 201

Soft Skills 202

Thinking Skills 204

New and Not-so-New Domain Areas 205

Transforming Management Education 206

Reviving the Professionalisation Project 206

Reinstating Stakeholder Primacy 209

Rethinking Tenure 210

Resisting the Paradigm Trap 211

Conclusion 213

Afterword: Transformation and Future Change in Management Education 215

References 217

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