Dean’s diary
How business schools will be
transformed and become more
innovative after the current crisis
he current economic crisis has better managers with more solid values. It goes
T
created unprecedented challenges as far as revisiting the foundational goals of
to society at large. Economic institutions such as business schools. There
historians resort to the accounts of may be simple ones but they go beyond the
more than seven decades ago to find a reference communities of academics and students or
point for comparison. Indeed, the scope, depth customers and are explicitly linked to the
and speed of the crisis have shaken the roots betterment of society at large. Indeed, business
of the basic set of assumptions upon which schools are institutions that can not remain
institutions have been operating on for many simply functional or responsive to crises. Both
years. Thus, we are facing times of profound are important goals and they have to be
change. Business schools can provide two addressed; nevertheless, business schools must
typical forms of responses to the current also have a transformational role. For better or
turbulence. The first is to resort to the kind of worse, the recent crisis has reminded us of the
analytical competence for which they have extent to which society depends on the role of
been deservedly praised. They can provide business education. Therefore it is the
answers to the why and how this crisis took
Alfons Sauquet
responsibility of institutions devoted to that
place. By studying the mistakes, identifying
Dean, ESADE Business School
noble activity to actively promote their role in
the decision points, analysing institutional society; to help frame debates and to accept
dependence and disseminating such their responsibility as central stakeholders.
interpretations, business schools would be legitimately, society will assess whether Knowledge advancement and individual
serving their basic academic mission. In this business schools are taking decisive actions to development are legitimate goals but the
manner, knowledge will be advanced and prevent the dominance of the values that have privileged position business schools enjoy,
society as a whole will be better prepared for fuelled the decisions which have threatened their unique locus at the intersection of
the future by drawing on the learnings to the growth and welfare of the global economy. knowledge and action, places a larger
provide us with better foundations for the In that respect, business schools can respond responsibility on them that goes beyond doing
years to come. Institutions will be transformed by stressing their developmental role. Our their business right.
accordingly and the world will become more present and future well being does not only In the short run, business schools will have
complex but at the same time wiser. New or rest on institutional and regulatory changes to search their DNA for their reasons to be
transformed institutions, better rules and but also on professionals with solid present in the world of education. They have to
regulations, new roles of organisations and foundations and values. accept their influential impact and consequent
better relations between different stakeholders Both responses will soon be noticed in responsibility. The qualities that will thus be
will be the end result. business schools. There might be some debate required from such institutions and their
The second type of response is to focus on what prevalence should be given to each of programmes will encompass the courage to
on their role as educational institutions which them but sooner or later and in different degrees transform; imagination to create new and better
will not remain the same following the crisis. they will be more visible. Business schools will frameworks; a deep sense of commitment and
Indeed, explicitly or not, at different times most probably underscore either the analytical service; and the ability to learn and partner with
and through different stakeholders, society dimension or the developmental one. However, different stakeholders. Call this combination a
will be legitimately asking what role business there is a third dimension that encompasses drive towards innovation but, if so, that should
schools have played in the latest events, and both and that will have more long term be a driven kind of innovation; an innovation
more importantly, what lessons have been relevance. This dimension is very simple but that wants to have a positive impact on society.
learned by the most influential institutions in very powerful and goes beyond accepting the That responsibility has to be accepted as part of
terms of educating our future leaders. Very goal of advancing knowledge or developing a business school’s mission.
52 TopMBA CAreer Guide
www.topmba.com
TopMBA CAreer Guide
www.topmba.com 53
MBA_SPR09_pp_052-155.indd 52 17/2/09 15:35:49
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