A number of symptoms can be identified that reflect underlying problems for schools of business and their faculties. Criticism from business on the irrelevance of research and business school curriculum has increased. Some faculty do not understand the global economic and technological environment.
Some faculty members avoid interchange with corporate counterparts.
The exception are those who engage in intellectually rigorous consulting. Some are change resistant. The lack of a mandatory retirement age exacerbates the phenomena of aging of the faculty. There is a drop in new faculty openings. This, along with faculty demographics, means fewer vacancies for young faculty.