Michael Hay is a professor of management practice at London Business School. He writes that business schools should create three kinds of value: academic, personal, and social. All are important
A short version:
‘China has embraced business schools. China Europe International Business School, in the Pudong district of Shanghai, dates back to 1994 and is now ranked among the top 20 schools worldwide.
As business schools expand we need to have a better shared understanding of their purpose if we are to maximize their impact.
I believe the purpose of a business school is to create value. I distinguish between three types of value.
Personal Value. Second, business schools create personal value through their teaching.
Social Value. Business schools create social value by producing graduates who are well trained and who can make a significant individual contribution.
Academic Value. First, business schools create academic value through research and its dissemination.
To succeed, a successful school must operate successfully in all three dimensions. The potential contribution of business schools to future economic and social development is too large for these questions to be ignored or unresolved.’
To read the full article click HERE.
Source BusinessWeek