The Future of Business Schools in the UK

Since the 1960s business schools have prospered in the UK. Now, however, there aresigns that the success story is coming to an end. The future of UK business schoolsis under threat from a number of directions. Their purpose is questioned – they areaccused of focusing on theoretical research at the expense of improving managementpractice and of turning out MBA graduates unsuited to the demands of modern daymanagement. Funding sources are under threat; international student applicationsare expected to decline; a severe shortage of suitable faculty is predicted.Business schools need to develop the right strategies to meet these challenges andsecure their future. But what are those strategies? This briefing outlines four differentapproaches business schools can take: the professional school; the social sciencesschool; the knowledge network school; and the liberal arts school.Business school deans are charged with the tough task of finding the right strategicbalance for their schools from these four approaches, in a context of uncertaintyand flux and where their ability to effect change is limited.The ability to build new capabilities, or to switch emphasis between them, isrestricted by two related matters: the availability of qualified and suitable academics,and the reputation of the school in specific areas of activity.[...]