Consider how business education is changing because we face issues with complex solutions. Americans have to learn to teach in that global world. We must begin behaving like global citizens. Information technology is expediting global management processes. We have to integrate the three developments I have mentioned market-driven privatization, globalization of business, and sophisticated information technology into the management curriculum, and it will not be easy because academics talk mainly to academics.
Information technology is even more complex to integrate into graduate management education.
In academia, we educate people in more productive business practices. In finance, we have financial models that have paid large dividends in the real world, and our graduates learn sophisticated tools. In marketing and organizational behavior, the same thing is true. Professors have insights that are valuable to business people, and we have evolved to focus our research toward real-world problems. When it comes to information technology, there is such a huge investment in the corporate world and there is such high payoff for their investment that I wonder if academia will ever catch up to the corporate world.