While academic programs remained stagnant, management systems were being revolutionized by organizational, global, and technological changes. Many MBA programs dictate that their faculty publish or perish. I say the faculty must practice or perish. They must have real-world knowledge of the impact of the monumental changes that are flourishing in the management of business. Educators must accommodate the customer by providing courses which can be studied on a laptop, on the Internet, through video and e-mail and satellite transmission.
Flexibility is the key.
Educators better get hooked into cyberspace and get to know the individual educational requirements of the students. The world is the laboratory where our students are making daily business decisions that impact the futures of firms. Today, they re across the globe on a weekly basis. Graduate studies must prepare them for the cultural and business practices they ll face in these varied environments. That s why I m taking a group of US graduate finance students to the floors of the stock exchanges in London this month.