In the recent publication, "Action for Growth" by the Wales Management Council on the future of management education in this country, it was notable that there was no significant reference within the document to the role of university business schools in undertaking this important task.
Indeed, with the private sector now providing a growing proportion of management and leadership courses within the Welsh skills sector, it could be argued that business schools are approaching a point where policymakers will be increasingly unsure of their role and relevance in the marketplace.
A recent document from the Association of Business Schools (ABS) also highlighted the challenges faced by the business school sector. Much of these are centred on the strategies being undertaken by many business schools, many of which are seemingly obsessed with achieving high scores in research terms whilst minimising the critical role they can play in developing and improving management practice in businesses and organizations.
Whilst the ABS document appreciates that UK business schools have prospered since the 1960s, it also suggests that the success story is coming to an end due to a number of key factors. For example, business schools have been accused of focusing on theoretical research at the expense of improving management practice and of turning out MBA graduates unsuited to the demands of modern day management. A decline in international student applications, especially for MBA courses, is expected during the next few years and, due to a lack of planning, it is predicted that there will be a severe shortage of suitably qualified academic staff in the near future.
Of course, as an academic, I would argue that it is only right that all academic departments, in whatever discipline, should seek to improve their research performance, However, as a businessman, I also believe that in the case of business schools, this has to be balanced with their actual role in improving the local and regional economy.
As the Wales Management Council points out, it is critical that Welsh organizations improve their management performance to enable us to climb from the bottom of the UK prosperity league tables, and there needs to be a greater appreciation of the role that business schools could and should be playing in developing the Welsh economy.
One of the vital lessons I learnt whilst working at University College Dublin during the 1990s was the importance of adopting the professional model within business schools, as practiced in schools of medicine, dentistry and law.
This approach, focused on management education supported by research (rather than the other way round) was enormously successful and made a significant contribution to training the managers of the Celtic Tiger economy.
In Wales, I would argue that whilst the "new university" sector had deep roots in such practice, their focus on evolving into the type of research-focused business school found in the old university sector means that much of the focus on improvement in management practice has been lost.
This situation could be easily alleviated by recreating stronger links with professional organisations and developing continuous professional development relationships with their alumni, especially at a local level.
Given this, I hope that some of our business schools will review their approach regarding the delivery of professional management development, although each university, of course, is different.
However, given the increasing focus on creating a knowledge-based economy in Wales, perhaps the time is ripe for a new type of business school that resonates with the focus on knowledge transfer being adopted by many universities. This new business school would need to concentrate on the development of management knowledge, especially in supporting the commercialisation of scientific and technological discoveries from the wider academic community.
Not only would it provide applied knowledge research to university departments, it would also work closely with external organisations such as high technology small firms, management consultancies, strategy divisions of large firms and government departments. This business school should comprise of entrepreneurial academics working in teams to conduct research with different organisations to generate ongoing income, and nurturing close and productive relationships with professional bodies, businesses and policymakers.
Most importantly, it would begin to make a real impact on the competitiveness of individual firms, industrial sectors and the Welsh economy as a whole through the provision of solutions based on academic knowledge and practical experience.
As the ABS report pointed out, business schools across the UK are at a crossroads. In Wales, their response to the challenges they face as organizations in a fast changing marketplace could determine the future of management education provision in this country and, consequently, its future economic performance.
Indeed, with the private sector now providing a growing proportion of management and leadership courses within the Welsh skills sector, it could be argued that business schools are approaching a point where policymakers will be increasingly unsure of their role and relevance in the marketplace.
A recent document from the Association of Business Schools (ABS) also highlighted the challenges faced by the business school sector. Much of these are centred on the strategies being undertaken by many business schools, many of which are seemingly obsessed with achieving high scores in research terms whilst minimising the critical role they can play in developing and improving management practice in businesses and organizations.
Whilst the ABS document appreciates that UK business schools have prospered since the 1960s, it also suggests that the success story is coming to an end due to a number of key factors. For example, business schools have been accused of focusing on theoretical research at the expense of improving management practice and of turning out MBA graduates unsuited to the demands of modern day management. A decline in international student applications, especially for MBA courses, is expected during the next few years and, due to a lack of planning, it is predicted that there will be a severe shortage of suitably qualified academic staff in the near future.
Of course, as an academic, I would argue that it is only right that all academic departments, in whatever discipline, should seek to improve their research performance, However, as a businessman, I also believe that in the case of business schools, this has to be balanced with their actual role in improving the local and regional economy.
As the Wales Management Council points out, it is critical that Welsh organizations improve their management performance to enable us to climb from the bottom of the UK prosperity league tables, and there needs to be a greater appreciation of the role that business schools could and should be playing in developing the Welsh economy.
One of the vital lessons I learnt whilst working at University College Dublin during the 1990s was the importance of adopting the professional model within business schools, as practiced in schools of medicine, dentistry and law.
This approach, focused on management education supported by research (rather than the other way round) was enormously successful and made a significant contribution to training the managers of the Celtic Tiger economy.
In Wales, I would argue that whilst the "new university" sector had deep roots in such practice, their focus on evolving into the type of research-focused business school found in the old university sector means that much of the focus on improvement in management practice has been lost.
This situation could be easily alleviated by recreating stronger links with professional organisations and developing continuous professional development relationships with their alumni, especially at a local level.
Given this, I hope that some of our business schools will review their approach regarding the delivery of professional management development, although each university, of course, is different.
However, given the increasing focus on creating a knowledge-based economy in Wales, perhaps the time is ripe for a new type of business school that resonates with the focus on knowledge transfer being adopted by many universities. This new business school would need to concentrate on the development of management knowledge, especially in supporting the commercialisation of scientific and technological discoveries from the wider academic community.
Not only would it provide applied knowledge research to university departments, it would also work closely with external organisations such as high technology small firms, management consultancies, strategy divisions of large firms and government departments. This business school should comprise of entrepreneurial academics working in teams to conduct research with different organisations to generate ongoing income, and nurturing close and productive relationships with professional bodies, businesses and policymakers.
Most importantly, it would begin to make a real impact on the competitiveness of individual firms, industrial sectors and the Welsh economy as a whole through the provision of solutions based on academic knowledge and practical experience.
As the ABS report pointed out, business schools across the UK are at a crossroads. In Wales, their response to the challenges they face as organizations in a fast changing marketplace could determine the future of management education provision in this country and, consequently, its future economic performance.
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