THIS ISSUE MARKS OUR 100TH SINCE BIZED WAS LAUNCHED in November/December 2001! In that time, we have been on the front lines of the evolution—sometimes incremental, sometimes rapid—of business education. And, better still, we’ve gotten to speak to many educators, administrators, and practitioners around the world who have shared their wide-ranging views on the role of business schools in both business and society.
We thought this milestone was a perfect time to remind ourselves of all that as happened since the magazine’s inception. Here, we share just a few of the interesting perspectives and trends that we’ve covered over the last 17 years.
“We don’t know yet exactly how the new learning technologies will affect higher education. Online technology
will certainly make a difference, but it is just a new way to deliver teaching. It forces you to restructure what you offer. Perhaps the one certainty is that we will develop a number of alternative ways of delivering management education
and management learning as a result of the new technologies.”
“I became a licensed hypnotist in 1981, and it was the most important skill I ever learned, outside of business.
Hypnosis is just a stronger version of what you do in business all the time: using the power of persuasion.” —”Dilbert” comic strip creator Scott Adams in “Funny Business,” November/December.
Of MBA students studying at 251 business schools worldwide in 2002, 35 percent were women, according to Businessweek Online. —“Thirty Percent,” July/August. Today, AACSB estimates this number to be 40 percent in the U.S. and 39 percent worldwide.
“The abilities exhibited by the stars turn out to be abilities like fantastic collaboration skills, persuasive communication,
initiative, flexibility, the drive to achieve better results, emotional self-management, and self-confidence. Those abilities are the emotional intelligence basis for leadership.” —Psychologist Daniel Goleman in Intelligence@Work,” September/October.
“OpenCourseWare Launches at MIT” —January/February, marking the first time MIT offered free course materials online.
“As he whittles down the number of participants in ‘The Apprentice,’ Donald Trump establishes a ‘trial-by-fire’ atmosphere in which each participant sees immediately the cause-and-effect consequences of any business action. As educators, we must keep in mind that we, too, are grooming apprentices who will manage the future of business.”
—“You’re Hired!” by Denis Fred Simon of Rensselaer Polytechnic Institute, July/August, in response to Trump’s new U.S. reality television show that debuted in January 2004.
“I would urge my colleagues to approach using ‘The Apprentice’ in the classroom with as much caution as they would approach purchasing a new bond offering from Trump’s casino empire.” —“You’re Fired!” by David Cadden of Quinnipiac University, in the same issue.
The average nine-month salary for a full professor at a private institution was US$89,900, according to AACSB.—“The Professor’s Paycheck,” March/April. Today, AACSB reports a full-time professor’s average nine-month salary is $132,509.
“Go to any American suburb and ask any 12-year-old, he’ll tell you that his parents have been talking to him about going to college from a young age. Not many black inner-city kids have that. They need to have those conversations earlier.” —Mellody Hobson of Ariel Investments in “Speaking of Money,” May/June 2005.
As of 2005, tablet PCs had yet to reach annual global sales of 500,000 units. By comparison, 189 million PCs sold in 2004. —“Tablet PCs Find Home in Higher Ed,” March/April 2005. In just the third quarter of 2017, 40 million tablets were shipped globally.
“SOX Hits the B-School Classroom” —July/August. Faculty discuss how to teach Section 404 of the 2002 Sarbanes-Oxley Act, which required companies to assess their internal financial controls as of 2007.
“ i.P.O.C. (iPods on Campus)” —January/February 2006. Students in all disciplines at Purdue University use iPods to replay class lectures via a new medium called “podcasting.”
“Three trends in particular—outsourcing, technological advancement, and globalization—promise to make an incredibly positive impact on the lives of those who live in underdeveloped economies. These trends,
however, are often blamed for the world’s problems, rather than viewed as solutions.” —“B-Schools and the Common
Good” by Louis Lataif of Boston University, March/April.
Fifty-six percent of 5,331 graduate business students in the U.S. and Canada admitted to cheating, compared to only 47 percent of nonbusiness students, according to a survey by Washington State’s Ken Butterfield, Rutgers’s Donald
McCabe, and Penn State’s Linda Treviño. —“Ethical Lapses Among MBAs,” July/August.
“I love being an academic dean. I like the tempo and excitement involved. I like the mixture of responsibilities and duties and, yes, even the challenges I must face on a regular basis. I like to effect change. But most important, I like the idea of leaving behind something that endures long after I have moved on.” —“A Dean’s Life” by Richard Klimoski, then
dean and still professor at George Mason University, July/August.
“Peace Prize for Microfinance”—January/February. Economics professor Muhammad Yunus wins the 2006 Nobel Peace Prize for Grameen Bank, a microlending institution.
“As human beings, we’re always interested in what the next great breakthrough in medicine or technology will be. I don’t know how many people are asking, ‘What’s the next great breakthrough in management?’” —Gary Hamel, founder of Strategos, in “The Innovation Generation,” September/October.
“Business Educationfor Underserved Women” —July/August. Goldman Sachs starts 10,000
Women, committing US$100 million to train women entrepreneurs in emerging markets.
“New Kelley Campus Opens in Second Life” —November/December. Indiana University’s Kelley School of Business goes virtual.
“We’ll have to rethink the whole question of innovation. There has been the assumption that all innovation is good, but how do we control dangerous innovation? When we teach innovation, we’ll have to focus on where innovation fails, where it can do damage.” —Jeffrey Garten of Yale in “A Return to Reality,” May/June, regarding the September 2008 collapse of the financial services firm Lehman Brothers.
Sixty-eight percent of 15,000 college applicants surveyed by the Princeton Review said their choice of college could be affected by the school’s commitment to environmental issues. —“Green Applicants,” July/August.
“In a recent speech at McGill, former President Clinton talked about a new kind of leader, one he called a communitarian. These are leaders who recognize how the big picture relates to the details and how their decisions can
have long-term consequences on the community around them. … What an MBA can do is give individuals the tools to
become better, more responsible managers who think about the big picture and the long term.” —Peter Todd, then dean and now professor at McGill University in “Management on a Mission,” January/February
“ Tapping into Telepresence” —May/June. Duke’s Fuqua School of Business and the University of South Carolina partner with Cisco to build lecture rooms equipped with telepresence technology.
“What is the fundamental purpose of business schools? We can’t say that our business is to produce MBAs. That’s like Coca-Cola saying that its purpose is to produce cola. Coca-Cola’s business is to quench thirst. Our business is … to transform the world of business.” —Dartmouth’s Vijay Govindarajan in “Create Space for Innovation,” January/February.
“We owe it to our students to raise their sights to the big challenges of the present and future. We owe it to them to help them fashion narratives worthy of their intellects and hearts, in ways that honor lives rather than just livelihoods.”
—“Lives, Not Just Livelihoods” by Carolyn Woo, then dean of Mendoza College of Business at the University of Notre Dame, May/June. Woo served as CEO of Catholic Relief Services from 2012 to 2016 and now is a Distinguished
President’s Fellow for Global Development at Purdue University.
“I would have liked to see more of my classmates start their own companies—there were a handful with startups, but many just planned hypothetical businesses. I think they would have had more powerful experiences if their businesses were real.” —Pooja Sankar, founder of the online learning community Piazza, March/April.
“MIT, Harvard Launch Open Source edX” —July/August. Each school contributed US$30 million to create an open-access learning platform to deliver courses for free.
B-schools reported 6,655 one-to-one partnerships with other institutions in AACSB’s 2010–2011 Collaborations Survey. —“Tracking Trends in Globalization,” May/June. That number had grown to 13,391 by 2013–2014.
“Students learn to consider the financial implications of unethical acts, such as the risk of fines, penalties, lawsuits, and damaged reputations. … But little time is spent teaching students that unethical behavior can actually harm employees in
tangible, nonmonetary ways.” —“Sick About Unethical Business” by Mark Promislo of Rider University and Robert Giacalone, then of Temple University and now of John Carroll University, January/February.
“15” —March/April. AACSB International reveals its new accreditation standards, about to come
up to a vote by members, which condenses the previous 21 standards down to 15.
“Mimicry is not a path to learning. And it’s definitely not a path to the innovation the world requires if we are to solve tomorrow’s problems.” —“Thinking Outside the B-School Box” by Kaustubh Dhargalkar, then of the Welingkar Institute of Management Development and Research in Mumbai, India, and now a consultant, September/October.
“Adults are often insecure about their abilities to draw or paint and shy about acting or making presentations in public. But on innovation teams, people need to be comfortable in places where they don’t think they have the abilities to perform.” —Carlos Osorio, then of Adolfo Ibáñez Business School and now of Deusto Business School in “Setting Off Sparks,” November/December.
A Wharton report estimates it costs approximately US$70,000 to develop a MOOC. —“Will MOOCs Change Business Schools?” September/October.
“If we focus too singularly on China, we risk missing many untold stories in other Asian markets.” —“How Will Asia Change Business Education?” by Ricardo Lim of the Asian Institute of Management, March/April.
In 2011–2012, 60,000 Chinese citizens took the GMAT, triple the number who took it in 2007–2008. —“Translating the MBA,” March/April. That number grew steadily to 70,744 in 2016, until decreasing to 68,905 in 2017.
“I believe that business schools need to create alliances, not with other business schools, but with their counterparts
in areas as diverse as law, electronics, and the fine arts.” —“Hybrid Innovation” by Frank Vidal of Audencia Nantes School of Management, July/August.
Women make up 19.3 percent of U.S. business school deans and 33.1 percent of associate deans,
according to AACSB International. —“Closing the Gender Gap” by Patricia Flynn, Kevin Cavanagh, and Diana Bilimoria, March/April. In 2017, those numbers were 23 percent and 34.1 percent, respectively.
“Ready to Lead” —May/June. Tom Robinson succeeds John Fernandes as the new CEO of AACSB.
“I see no reason to spend US$100,000 on an MBA if a MOOC specialization will result in the desired outcome.” —“The MOOC-Based MBA” by Laurie Pickard, creator of the blog NoPayMBA.com, November/December.
Sixty-four percent of business students believe businesses have not done enough to solve environmental
challenges, and 67 percent want their jobs to incorporate environmental sustainability, according to Yale University. —“Students Are Set on Sustainability,” March/April.
“I don’t think artificial intelligence machines are threats to human kind. I think they will have profound positive impacts on our society and economy.” —James Pang of the National University in Singapore in “The Inhuman Touch,” January/February.
“Immigrants Welcome Here” —May/June. Students at Finland’s Turku School of Economics create mobile app to facilitate interactions between local residents and asylum seekers from countries in conflict.
Among GMAT test-takers outside the United Kingdom, 45 percent indicate that they are less likely to study in the U.K. because of Brexit. —“Politics and Study Abroad,” November/December.
“When we have minorities who are academics, they must be made visible—there have to be mechanisms in place for them to share their stories.” —Karlene Cousins of Florida International University in “Talking the Talk,”
“If we want schools to be innovative, we as an accrediting body cannot hold them to strict rules. … We’ve got to
be more outcome-focused and results-focused. We have to let members try new ideas.” —Bob Reid of AACSB International in “The Faculty Piece,” January/February.
Eighty-nine percent of young people who are 19 to 26 years old define success as having a positive impact on society, according to a survey from the University of Oxford. —“Students Make Purpose a Priority,” March/April.
In these past 100 issues, business educators have gone from expressing the clear understanding that their industry was changing to becoming avid and active participants in shaping the technological, ideological, and social changes as they happen. We are honored to have chronicled this history in our pages, and look forward to the developments ahead.
And, to our readers, we say “thank you” for all of your many contributions to our effort. We hope to be with you for at least 100 issues more.