The Past, Present, and Future of the Business School EDWA R D W M I LES The Past, Present, and Future of the Business School Edward W. Miles The Past, Present, and Future of the Business School Edward W. Miles Georgia State University Lawrenceville, USA ISBN 978-3-319-33638-1 ISBN 978-3-319-33639-8 DOI 10.1007/978-3-319-33639-8 (eBook) Library of Congress Control Number: 2016953745 © The Editor(s) (if applicable) and The Author(s) 2016 This work is subject to copyright All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed The use of general descriptive names, registered names, trademarks, service marks, etc in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made Cover image © Anton Starikov / Alamy Stock Photo © A Astes / Alamy Stock Photo Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Springer International Publishing AG Switzerland In memory of John D. Hatfield: Scholar, Teacher, Mentor PREFACE In recent decades, a variety of criticisms have fallen at the feet of university-based business schools A sampling of these allegations includes the following: Business schools produce research that is ignored by the business community as being irrelevant (e.g., Pfeffer & Fong, 2002; The Economist, 2007) Very few of the innovations in business of the past half-century have originated in business schools or have been shaped by them (e.g., Skapinker, 2008) Business schools bear significant responsibility for bad decision making and unethical behavior (e.g., the Enron scandal) among their graduates (Etzioni, 2002; Ghoshal, 2005; Podolny, 2009) Narrowly focused research specializations lead to professors who are “siloed” both in their thinking and in their delivery of content in the curriculum (e.g., Crowther & Carter, 2002; Navarro, 2008; Podolny, 2009) Faculty members have little interest in the critical problems facing business or in helping to solve them (Bennis & O’Toole, 2005; Thomas & Wilson, 2011) Business school faculties are populated by academic scholars who have little business experience Therefore, business school graduates have been educated in the practice of a profession by a cadre of faculty members who are not members of that profession and not have a strong desire to relate to that profession (Bennis & O’Toole, 2005) If even a portion of these concerns have merit, then it would seem that the university-based business school of today is not delivering optimally on the benefits it alleges to be providing to its stakeholders Among others, these stakeholders include students, graduates, employers, financial donors, the collective business community, society at large, and—in vii viii PREFACE the case of state-funded universities—the taxpayers who help to fund the activities of the business school While various writers of recent decades have quite ably articulated concerns about the current-day business school, they lament (Pfeffer & Fong, 2002; Podolny, 2009) that these concerns are tacitly acknowledged by business schools and generally ignored by an “ostrich-head-in-the-sand” lack of response Why would faculty members and university administrators—drawn from the highest levels of intellectual and reasoning ability in society—simultaneously acknowledge a serious situation, yet ignore such seemingly critical concerns? To get a fuller answer to this question than has been previously offered (or to challenge the pre-supposition of the question), one must understand the context in which the university-based business school operates One dimension of that context is history The business school is embedded within the university The university has a rich history going back to medieval times William Faulkner observed that, “The past is never dead It’s not even past.” Just as Faulkner’s Mississippi culture lives on forever, the culture of the modern-day university carries the residue of 800 years of academic culture going back to the medieval universities of Paris, Bologna, and others To gain a complete understanding of the twenty-first century university-based business school and its alleged shortcomings, one must see the business school in the context of an 800-year institution in which many medieval traditions and values have not died—they are not even in the past A second dimension of the context is resources and funding The medieval university had two key benefactors—the king and the church Both provided resources necessary for the university to exist In recent centuries, the university has jettisoned its linkage with the church; in recent decades, the state (i.e., replacing the role of the king) has become much less lavish in funding the modern-day university Never has the phrase “He who pays the piper calls the tune” resonated more than in the twenty-first century university Finding and satisfying constituents who can assure the funding resources of the university is a task that has changed and evolved for centuries The business school operates a microcosm of that same task For centuries, the university (and more recently, the business school) has been quite eager (some would say too eager) to take on new roles to satisfy these constituents (Collini, 2012; Kerr, 1963/2001) These roles include offering vocational training to attract more students, conducting military and medical research to attract government grants, and building a huge athletic program to curry favor with a variety of constituents Over PREFACE ix time, the university has come to embody multiple purposes that were accepted at various points in time for the reason of building favor with multiple constituents Just as the broader umbrella of the university, the business school likewise has taken on many roles for the purpose of satisfying a broad span of constituents Given that these roles were acquired at different points in time, based on needs of a broad span of constituents, it is no surprise that these roles are, at best, non-synergistic, and at worst, conflicting For example, big-time athletics and academic integrity conflict at many universities In business schools, hiring faculty based solely on research record conflicts with hiring based on teaching or outreach needs A third and final element of the context of the university-based business school is that it is a professional school Universities have a myriad of professional schools What can the business school learn from the experiences of the university-based medical school, law school, journalism school, or even music school? Interestingly, few of the criticisms of the business school (many listed above) are unique For example, music schools wrestle with the implications of a “siloed” curriculum; law school observers bemoan the preponderance of research irrelevant to practice, and medical schools are accused of placing too much emphasis on research and too little on teaching The business school has the opportunity to learn vicariously from other professional schools regarding these criticisms and how those schools respond to them Additionally, a comparison to other professional schools will give the business school a richer understanding of which criticisms are solely endemic to business schools and which are actually endemic to multiple professional schools that operate in a university context In summary, the twenty-first century university-based business school has been accused of operating in a manner that, at best, does not influence the practice of business, and, at worst, is “harmful to society…part of the problem rather than the solution” (Podolny, 2009, p. 63) Furthermore— and perhaps more seriously—it has been accused of acknowledging this situation and implicitly choosing to continue with the status quo The purpose of this book is to explain three intertwined dimensions of the context in which the university-based business school operates: historical context, resource context, and professional school context As the context sheds light on the operating environment of the business school, readers may decide to re-assess which of the criticisms have merit and the likelihood that potential interventions may result in success or failure Lawrenceville, GA Edward W. Miles x PREFACE REFERENCES Bennis, W. G., & O’Toole, J (2005, May) How business schools lost their way Harvard Business Review, 96–104 Collini, S (2012) What are universities for? London: Penguin Books Crowther, D., & Carter, C (2002) Legitimating irrelevance: Management education in higher education institutions The International Journal of Educational Management, 16, 268–278 Etzioni, A (2002, August 4) When it comes to ethics, B-schools get an F The Washington Post, B4 Ghoshal, S (2005) Bad management theories are destroying good management practices Academy of Management Learning and Education, 4(1), 75–91 Kerr, C (1963/2001) The uses of the university Cambridge, MA: Harvard University Press Navarro, P (2008) The MBA core curricula of top-ranked U.S business schools: A study in failure? Academy of Management Learning and Education, 7(1), 108–123 Pfeffer, J., & Fong, C. T (2002) The end of business schools? Less success than meets the eye Academy of Management Learning and Education, 1(1), 78–95 Podolny, J.  M (2009, June) The buck stops (and starts) at business school Harvard Business Review, 62–67 Skapinker, M (2008, January 8) Why business ignores the business schools Financial Times The Economist (2007, August 28) Practically irrelevant: What is the point of research carried out in business schools? Accessed August 4, 2015, from http://www.economist.com/node/9707498 Thomas, H., & Wilson, A. D (2011) ‘Physics envy’, cognitive legitimacy or practical relevance: Dilemmas in the evolution of management research in the UK British Journal of Management, 22, 443–456 ACKNOWLEDGMENTS Although it has been almost years in the making, I have very much enjoyed researching and writing this book Being an academic, researching and better understanding the roots of the modern university and business school has been quite meaningful My thinking on the topics in this book has been shaped by a career in academia and by engaging conversations with numerous thoughtful colleagues For this interaction, I am quite grateful to Wesley King, Brett Matherne, Richard Baskerville, Deborah Butler, Kay Bunch, Lucy McClurg, Jeff Schatten, John Hocking, John Hall, John Lough, Ebb Oakley, Stan Smits, Bill Jones, Richard Deane, Dave Forquer, Julian Diaz, Mike Crino, Sônia Calado Dias, Uli Zeyer, Tom Quiesser, and Richard C.  Huseman, among many others Of course, all flaws in the book are entirely the responsibility of the author xi ANOTHER PARADOX: THE BUSINESS SCHOOL IN RUINS 181 Kerr and Damrosch are saying that many elements of a university are quite fluid and open to adaptation and change; however, the faculty’s desire to define its own role in terms that it wants is not one of those elements ENTRENCHED STATUS QUO The twenty-first century university-based business school operates in the context of an entrenched status quo Business school faculty members are academics who embrace the values and preferences of the university The university incentivizes those faculty members to focus inward rather than outward The university and its various other academic units endorse the same values and preferences; therefore, they see little problem in the way the business school operates The university wants prestige, and the business school operating in its current manner achieves that goal Students also endorse the status quo They want a vocational credential that holds sufficient credibility and prestige; the universitybased business school provides that credential The primary stakeholder that does not overtly endorse the status quo is the business community This constituent is passively accepting of the status quo The business community views some activities of the business school (e.g., closed-loop research) as “much ado about nothing.” However, lacking a synergistic voice, the business community is willing to ignore these activities as benign rather than harmful RECOMMENDATIONS THAT HAVE NO HOPE OF SUCCESS One basic theme of this book is that, if critics see the twenty-first century university-based business school as being “in ruins,” any viable recommendation for change must view the business school in its greater context Any recommendations that address potential changes to the business school without considering this context have little probability of success Indeed, they have little probability of receiving serious consideration One central theme of these critics (e.g., Pfeffer and Fong, 2002) is that the business school is not oriented toward activities that influence the practice of business For example, there is little argument that the majority of research published by business school faculty members has no impact whatsoever Therefore, one simplistic “solution” is to advocate that business schools abandon closedloop research and only focus on research, teaching, and outreach that influence the practice of business Given the greater context, such a “solution” is 182 E.W MILES doomed before it is articulated A business school cannot unilaterally make such decisions because the academic guilds would not endorse the work of that business school’s professors Without the guild’s endorsement, the university would see those faculty members as failures Additionally, the university has “stacked the deck” by hiring a business school faculty that does not wish to engage in such activities Were such a mandate unilaterally dictated by a particular business school, that business school would have a mass exodus of its most prestigious faculty, and would be unable to hire either senior or entry-level replacement faculty of equal prestige In general, expecting change to originate from within the business school seems implausible in the current context The university has forced a business school that focuses inward and endorses the values and preferences of academia There is simply too strong an endorsement of the status quo from the business schools, the academic guilds, and the university POTENTIAL THREATS TO THE STATUS QUO If changes to the status quo are unlikely to come from within the universitybased business school, the obvious origin is the greater university or external stakeholders There are five possible threats to the status quo of the university-based business school Consistent with the thesis of this book, four of these are actually threats to the greater university that have specific implications for the business school POTENTIAL THREAT ONE: UNIVERSITY’S CREDIBILITY IS COMPROMISED When the university’s credibility was challenged by the 1910 Carnegie Foundation report on medical schools, the university moved swiftly to recapture its credibility When the university’s credibility was challenged by the 1959 Ford Foundation and Carnegie Foundation reports, it moved— as swiftly as possible—to recapture its credibility Shakespeare declared that “The purest treasure mortal times afford is spotless reputation That away, men are but gilded loam, or painted clay.” A spotless reputation is one of the most critical possessions of the twenty-first century university; maintaining that reputation is one of its highest priorities The university’s credibility is linked to prestige and to its ability to dispense credentials that are valued When that credibility is questioned, the university will move at a non-glacial pace to restore its credibility ANOTHER PARADOX: THE BUSINESS SCHOOL IN RUINS 183 When the dust settled from an athletics-related scandal that questioned the academic integrity of the University of Georgia in the 1980s, the university president and senior academic vice-president had both disappeared A similar scandal at the University of North Carolina in the 2010s unraveled in an eerily similar sequence of events A central figure in that situation came close to serving time in prison on felony charges It took a report from a commission anchored by a respected former state governor to exorcise the demons of that challenge to the university’s academic credibility Both of these examples illustrate that the university will move swiftly if its academic integrity is questioned Unfortunately, the claims of various twenty-first century business school critics (e.g., Bennis & O’Toole, 2005; Pfeffer & Fong, 2002; Podolny, 2009) are not claims against the academic integrity of the business school They are claims against the business school’s role in serving external constituents However, the greater university has a bias toward an inward focus, and does not particularly see the business school’s inward bias as a cause for concern Unless these critics can frame their arguments as claims against academic integrity, those claims are unlikely to resonate The claim (e.g., Readings, 1996) of a university “in ruins” gains no traction because it is not a claim against academic integrity Without such resonance, the claim of a business school “in ruins” will follow the same path POTENTIAL THREAT TWO: CREDENTIALING For over 800 years, the ability to confer a valued credential has been central to the university’s ability to thrive The shift in the twentieth century to the university being a critical provider of vocational training has maintained the centrality of the role of credentialing Were the university’s role as a provider of credentials displaced by an equally credible entity, such an occurrence could send the university back to John Newman’s idea of the university as a “finishing school for gentlemen.” Is there a credible provider of credentials “waiting in the wings”? I not see one, but I see some elements of concern The academic guilds thrive and insist that research is critical to the academic mission of the university and the business school These guilds, as currently constructed, are uncontrolled monopolies With the faculty’s resistance to change (Damrosch, 1995; Kerr, 1963/2001), it has been able to say that funding research is critically inseparable from the mission of the university 184 E.W MILES Therefore, funding sources (e.g., students and government) are paying for both the teaching and research mission If an equally credible entity could provide only the teaching portion of that mission, it would be able to so for a lower cost Of course, the key element is “equally credible.” The current domain of higher education includes “for-profit universities” that generally produce little research; however, their credibility has not yet equaled that of prestigious state and non-profit private institutions Is there a possibility of equally credible models? To answer this question, it will help to consider why craft guilds—thriving in academia today—died out in business They died because they were unable to sustain their monopolies in the wake of the industrial revolution (Lambert, 1891; Renard, 1918) Goods (e.g., barrels, ships, shoes, and beer) came to be produced in national and international markets rather than in local markets The industrial revolution brought large-scale manufacturing supported by large-scale capital Workers no longer needed to be skilled in the entire process (e.g., making shoes); with mass production, workers only needed to have skill in one narrow segment of the process The local government was able to control the monopolies as long as goods were produced and consumed locally Once goods were produced in broader markets, local government was no longer in a position to provide an exclusive monopoly to the guilds Let us return to Faulkner: “The past is never dead It’s not even past.” Wal-Mart was able to displace Sears and J.C. Penney because each of these old-line department stores brought baggage from the residue of 100 years of retail practice; Wal-Mart was able to “thumb its nose” at the 100 year of baggage, saying “We don’t need that, and we think customers will pay less without it.” If a credible “Wal-Mart of higher education” were to appear, saying “we don’t need the endorsement of the AACSB or research that does not impact the practice of business, and we think our benefactors are willing to pay less without it,” would this entity be as successful as WalMart was in replacing Sears and J.C. Penney? The answer to this question also hinges on the element of “equally credible.” A key element in the demise of craft guilds was when manufacturing moved from local to national and international markets A parallel change may be possible in academia With the advent of various technology-based options to deliver university-level courses, universities are no longer geographically constrained Universities who wish to so are able to recruit and enroll student from around the world who not leave home, but engage through technological media ANOTHER PARADOX: THE BUSINESS SCHOOL IN RUINS 185 In 2014, Rich Lyons, Dean of the Haas School of Business at the University of California at Berkeley, ruffled some feathers when he predicted “Half of the business schools in this country could be out of business in 10 years—or 5.” Lyons was predicting that online degree programs and online delivery of content would result in a dramatic re-shaping of the need for second and third tier university-based business schools If potential students can be conferred an online MBA from Indiana University or the University of North Carolina, they must weigh the prestige of that credential against that of the geographically more proximal MBA programs The more online programs make geographical proximity unnecessary, the more this choice will be made based on other criteria Unless Dean Lyons is a student of university history, it is rather ironic that he chose the 10-year time window—the same length of time window in which almost half of medical schools disappeared between 1910 and 1920 The experience of medical schools tells us that Dean Lyons’ prediction for the twenty-first century US university has a precedent in the twentieth century US university However, the marketplace will have to determine whether online programs are viewed with “equal credibility” by potential students and by employers If an online degree from Indiana University is de-valued in New Mexico or Alaska because it has less credibility than local degrees, then Dean Lyons’s prediction may have been premature In summary, an “equally credible” entity would be needed to displace the university-based business school and the credibility of its credential However, the advantage of geographical proximity is no longer the “trump card” that it once was Just ask the medieval coopers guild or the shipwrights guild POTENTIAL THREAT THREE: BUSINESS COMMUNITY FINDS A VOICE Part of the reason that the twenty-first century university-based business school has a primary focus on the values and preferences of the university is that the business community has not spoken with consensus regarding what values and preferences it expects from the business school Chap 13 provides a number of examples of how the legal profession and the journalism profession have influenced their respective professional schools The legal profession holds some influence, in part, because it controls the bar exam; new entrants to the profession are not permitted without the 186 E.W MILES permission of the profession The situation of the journalism school may be more instructive to business schools By the nature of their profession, individual journalists can access high visibility media platforms if they wish to challenge the values and preferences of the journalism school Chap 13 provides an example of an article published by Michael Lewis (1993) in The New Republic that described the Graduate School of Journalism at Columbia University in a quite unflattering manner Before that incident settled, the university president suspended a search for a new dean and appointed a taskforce to recommend “what a preeminent school of journalism should look like in the contemporary world” (Journalism Education, 2002) The journalism form of situation is more likely for the business school than the legal profession’s model of a consensus among the profession The business community is unable to build a consensus opinion of what values and preferences it wants to see from a business school However, if a key set of voices worked together, they could have the same disruptive impact on the business school that Michael Lewis had on the journalism school Consider the following hypothetical scenario: • The CEOs of Apple, Coca-Cola, Delta Airlines, Bank of America, and General Motors agreed that they were disappointed that research in business schools had little effect on the practice of business They listed a set of key problems facing business today that they believe business schools should be engaged in addressing • These CEOs took out a full-page advertisement in the Wall Street Journal, the New York Times, the Washington Post, and other major media outlets throughout the USA • That advertisement described their concerns in detail and offered a well-reasoned set of recommendations for business schools to follow in order to engage with the list of identified business problems • In the advertisement, the CEOs called upon university presidents to assure that business schools were attempting to address the problems facing business as outlined • The advertisement also explained that the same panel of CEOs would publish a “Report Card” for all major business schools in 24 months and yearly after that University presidents would ignore such a mandate at their own peril Business school faculty members may not wish to change, but the burden would be placed on the parties that have more potential to insist on ANOTHER PARADOX: THE BUSINESS SCHOOL IN RUINS 187 change—the university presidents Such an initiative would be difficult to ignore, and its effects would resonate for decades Again, the business school is not in a position to enact unilateral change If it did initiate change, it would be an outcast at the university’s frankfurter roasts The universities and their presidents are the ones who have much greater potential to break the status quo Therefore, any party wishing to seek change in the business school has the greatest likelihood of success if that party can emulate the “Michael Lewis” role Making their case in media platforms that rarely receives attention beyond the business school (e.g., Grey, 2004; Pfeffer & Fong, 2002) will not gain access to the audience most capable of responding to the party’s concerns POTENTIAL THREAT FOUR: FUNDING BECOMES UNSUSTAINABLE The university has always been subject to the preferences of financial benefactors The medieval university served the church and the king (later replaced by government) When the university severed its ties to the church, that funding role was replaced, through science, by sponsored research As described in Chap 15, government allocations to fund universities have been declining in recent decades One alternative source of funding— important unless a university has a large endowment—is student tuition and fees Two mechanisms have been utilized First, some universities have significantly increased enrollments in order to obtain fees from a broader base of students Second, universities have dramatically increased tuition and fees Of course, both strategies can be applied in tandem as well Chap 13 suggests that universities may be approaching the rational limits of this second strategy University graduates are leaving school with increasing debt The Institute for College Access and Success (TICAS, 2015) estimates that 69 % of US college graduates leave school with loan debt, and the average debt per person is over $28,000 Some observers suggest that the limits of acceptable tuition and fee increases may be approaching For example, Forbes Magazine (Kristof, 2009, p. 60) describes student loan debt as “an unfolding education hoax on the middle class.” In constant dollars, tuition and fees have increased at US public institutions of higher education by 342 % since 1964 (NCES, 2013, Table 330.10) The amount of student loan debt is increasing to the point that it could easily gain legislative investigation and intervention (TICAS, 2015) Some observers have suggested that the quest for prestige by universities results in an “arms race” that requires ever-increasing funding (cf Sperber, 188 E.W MILES 2005; Zemsky, 2008) If we accept that characterization, three incompatible forces seem about to collide in the near future: (1) Government funding of public universities is decreasing (2) A limit of how far tuition and fees can be increased without revolt or legislative constraints may be approaching (3) Prestige-seeking requires an ever-increasing amount of financial resources POTENTIAL THREAT FIVE: THE UNIVERSITY TAKES ON A NEW ASSIGNMENT As noted by Collini (2012) and Kerr (1963/2001), the university has undergone very fundamental changes over time because it has willingly taken on new roles requested of it by financial benefactors Newman saw a university that was a finishing school for gentlemen Humboldt saw a university that—reversing a centuries-old pattern—welcomed science and scientific research into the university In the nineteenth and twentieth centuries, the university accepted the role of providing vocational training and vocational credentials In that same time window, the university moved from the task of educating a very selective elite to educating the masses Each of these changes occurred, in part, because each provided financial resources to the university The university has shown over time that it is willing—some would say too willing—to accept new tasks and purposes on behalf of benefactors who have the ability to support the university Indeed, the university is one of the oldest institutions on earth because it does willingly take on new purposes requested by external parties Of course, the previous purposes (e.g., finishing school and scientific research) usually not disappear; the new purpose is added Is the university in general or the business school in particular about to receive a potential benefactor’s request to add an entirely new purpose to its current portfolio? I not see that benefactor “waiting in the wings,” ready to make such a request and provide the requisite funding However, if the current funding model becomes unsustainable, the door is open for that benefactor to make its appearance CONCLUSION One reason that the university has flourished for centuries is that it is perceived as the objective, unbiased arbiter of truth and knowledge The university has demonstrated over time that it will accept various roles on behalf of benefactors However, Bok (2003, p.  54) has warned that ANOTHER PARADOX: THE BUSINESS SCHOOL IN RUINS 189 “Universities, despite their lofty ideals, are not above sacrificing academic values…in order to make money.” While Bok was referring to university athletics, he could just as easily been warning university-based business schools: If, in order to maintain funding, you engage in activities that cause the university to lose its mantle as the unbiased arbiter of truth and knowledge, you will have lost what is perhaps the university’s most prized possession Tread carefully; the Siren’s song of acquiring funding to support an arm’s race is going to become louder REFERENCES Bennis, W. G., & O’Toole, J (2005, May) How business schools lost their way Harvard Business Review, 96–104 Bok, D (2003) Universities in the marketplace: The commercialization of higher education Princeton, NJ: Princeton University Press Collini, S (2012) What are universities for? London: Penguin Books Damrosch, D (1995) We scholars: Changing the culture of the university Cambridge, MA: Harvard University Press Delbanco, A (2012) College: What it was, is, and should be Princeton, NJ: Princeton University Press Flexner, A (1910) Medical education in the United States and Canada New York, NY: The Carnegie Foundation for the Advancement of Teaching Grey, C (2004) Reinventing business schools: The contribution of critical management education Academy of Management Learning and Education, 3(2), 178–186 Journalism Education (2002, Winter) Nieman Reports, 100 Kerr, C (1963/2001) The uses of the university Cambridge, MA: Harvard University Press Kristof, K (2009) Crushed by college Forbes, 183(2), 60–65 Lambert, J. M (1891) Two thousand years of guild life Hull: A. Brown & Sons Lewis, M (1993, April 19) J-school confidential The New Republic, 20–27 Lyons, R (2014) Cited in P.  Clark, Online programs could erase half of U.S business schools by 2020 Accessed November 9, 2015, from http://www bloomberg.com/bw/articles/2014-03-14/online-programs-could-erase-half-ofu-dot-s-dot-business-schools-by-2020#r=read Mintzberg, H (2004) Managers not MBAs: A hard look at the soft practice of managing and management development San Francisco, CA: Berrett-Koehler National Center for Educational Statistics (2013) Digest of educational statistics: Tables 325-25 and 330-10 Accessed September 16, 2015, from https://nces ed.gov/programs/digest/d13/ Pfeffer, J., & Fong, C. T (2002) The end of business schools? Less success than meets the eye Academy of Management Learning and Education, 1(1), 78–95 190 E.W MILES Podolny, J.  M (2009, June) The buck stops (and starts) at business school Harvard Business Review, 62–67 Porter, L.  W., & McKibbin, L.  E (1988) Management education and development: Drift or thrust into the 21st century? New York, NY: McGraw-Hill Readings, B (1996) The university in ruins Cambridge, MA: Harvard University Press Renard, G (1918) Guilds in the middle ages London: G. Bell and Sons Spender, J. C (2007) Management as a regulated profession: An essay Journal of Management Inquiry, 16(1), 32–42 Sperber, M (2005) How undergraduate education became college lite—and a personal apology In R.  H Hersh & J.  Merrow (Eds.), Declining by degrees: Higher education at risk New York, NY: Palgrave Macmillan TICAS (2015) Project on student debt Accessed November 9, 2015, from http://ticas.org/posd/map-state-data-2015 Zemsky, R (2008) The rain man cometh—Again Academy of Management Perspectives, 22(1), 5–14 REFERENCE Bok, D (1983) A flawed system of law practice and training Journal of Legal Education, 33, 570–585 © The Editor(s) (if applicable) and The Author(s) 2016 E.W Miles, The Past, Present, and Future of the Business School, DOI 10.1007/978-3-319-33639-8 191 INDEX A AACSB, 93 Academic arms race, 53, 79, 170, 187 Academic dishonesty in business schools, 92 Academic freedom, 28 Academic guilds, 17, 174 Academic guilds, membership, 118 Academic integrity, threats to, 183 Academic tenure, 33, 86, 161 Aristotle, 11 B Banking “meltdown” of 2009, 2, 66, 126 Beaujolais nouveau, 78 Beer and Circus, 57 Bennis, Warren, 82, 129 Berlin, University of, 29 Bok, Derek, 58, 70, 97, 140, 171 Bosk, Charles, 121 Bourne, Randolph, 92 Business school competition, 77 Business school complacency, 144, 146 Business school deans, 84, 158 Business school in “ruins”, 173–89 Business school rankings, 78 C Carey, James, 111 Carnegie Foundation, 66, 152 Cassiodorus, 12 Cathedral schools, 13 Catholic monasteries, 12 Charlemagne, 13 Cheerleading as an institution, Chicken Little, Clinical faculty, 85, 157, 162 Clinical training benefits, 121, 154 disadvantages, 121 Closed loop research, 23 Collini, Stefan, 38 Collins,Randall, 96 Columbia University, 110, 130, 186 © The Editor(s) (if applicable) and The Author(s) 2016 E.W Miles, The Past, Present, and Future of the Business School, DOI 10.1007/978-3-319-33639-8 193 194 INDEX Coopers guild, 19 Cost of attending college, 167 Craft guild decline, 23, 95 Crainer, Stuart, Credential inflation, 95–7 Critical Juncture I, 27–31 Critical Juncture II, 48 Critical Juncture III, 68 Critical Juncture IV, 169 D Daniel, Carter, 66 Dearlove, Des, Deford, Frank, 55 E Early Middle Ages, 11 Emperor’s New Clothes, English Interregnum, 29 Enron, 126 Errors ability to detect, 126 normative, 123–4, 126 technical, 122–3, 126 Euphonium, 118 F Flexner, Abraham, 1, 37, 152, 157 Flexner report on medical schools, 152 Fong, Christina, 2, 105 Ford Foundation, 66 Foundation reports of 1959, 66, 151 G Galileo, 27 Geiger, Roger, 91 Gibbon, Edward, 29 Gilbert and Sullivan, 36 Gordon, Robert, 66 Government funding of universities, 35, 155 Grande écoles, 29 Gravy Training, Gregory of Tours, 11 Grey, Christopher, 1, 3, 91, 105, 173, 177–8 Guild monopolies, 18, 174 Guild regulation, 19 H Hambrick, Donald, Howell, James, 66 Humboldtian influence, 31 See also Pseudo-Humboldtian influence Humboldt, Wilhelm von, 29, 169 Hutchins, Robert Maynard, 31 I Internal focus of faculty, 23, 174 Irrelevant research alleged, 73, 137 Ius ubique docendi, 90 J Jacksonian Democracy, 119 Jedel, Michael, 91 Journalism school compared to business school, 131–7 Justification for university-based business schools, 109–11, 132 K Karabell, Zachary, 12 Kepler, Johannes, 27 Kerr, Clark, 35 Khurana, Rakesh, 65, 74 INDEX L Law school compared to business school, 116, 137, 141–5 Legitimacy of business schools, 82 Legitimacy of credentials, 94 Lewis, Harry, 46 Lewis, Michael, 130, 186 Licentia docendi, 89 Lucian of Samosota, Lyons, Rich, 185 M Machiavelli, Niccolò, 70 Mass higher education, 46 McKibbin, Lawrence, 66 Medical school business model, 154–8 Medical school compared to business school, 121, 151 Mettler, Alfred, 98 Mintzberg, Henry, Multiversity, 35–8, 160 Music school compared to business school, 129 N Newman, John Henry, 36 O O’Toole, James, 129 P Paris, University of, 90 Pfeffer, Jeffrey, 2, 105, 159 Pierson, Frank, 66 Plato’s Academy, 10 Podolny, Joel, 129 Pope Boniface VIII, 2, 28 195 Porter, Lyman, 66 Potemkin villages, 82 Power and critical contingencies, 159 Privileges accorded to universities, 15 Profession control of entry, 118, 120, 142, 176 craft guild roots, 106 criteria, 103, 107, 178 dishonesty within, 123 esoteric services, 104 indoctrination, 125, 135, 138 Profession vs occupation, 110 Pseudo-Humboldtian influence, 31, 69 Psychological contract with the university, 48 Pulitzer, Joseph, 104, 110, 130 Purpose of business school research, 74 Purposes of universities finishing school for gentlemen, 37 grafting, 36 incompatible, 55, 118, 188 intellectual inquiry, 37 repository of culture, 37 single purpose, 73 vocational training, 45, 90, 116, 134, 177 Pythagoreans, 10 R Readings, Bill, 43, 173 Religious influence, 34 Roman Empire, 11 S Salancik, Gerald, 159 Science in the medieval university, 34 Scribe schools, 2, 196 INDEX Siloed curriculum, 47, 129 Smith, Adam, 18 Sophists, 10 Spender, J.-C., 3, 91 Sperber, Murray, 53, 57 State funding of higher education, 167, 187 Student debt, 144, 187 Sutton, Willy, 56 T Thelin, John, Torstendahl, Rolf, 109 Trow, Martin, 1, 48, 56, 91, 133 U University endowments, 52 University in ruins, 43, 173 U.S. Supreme Court, 137 V Veblen, Thorstein, 81 W Wal-Mart, 95, 184 Wharton, Joseph, 65, 104 Wharton School, 65, 69, 116 Wilson, Woodrow, 1, 92, 178 .. .The Past, Present, and Future of the Business School Edward W. Miles The Past, Present, and Future of the Business School Edward W. Miles Georgia State University... Part III The Business School Among the Professional Schools of the University 101 11 Professions, University-Based Professional Schools, and? ?Business as a Profession 103 12 Professional Schools... third and final element of the context of the university-based business school is that it is a professional school Universities have a myriad of professional schools What can the business school