The AACSB, the ‘main’ accreditation body for business schools in the US as well as the rest of the world, is revising their guiding principles for member schools. Specifically, they want b-schools to spend less time on ivory tower research and theory and more time on practical application.
It’s up to the individual schools to interpret the guiding principles but we foresee an increased number of case study courses, closer scrutiny of how published research can actually benefit companies and a shift away from full-time, Ph.D. professors toward part-time adjunct faculty with relevant work experience. This will also benefit many Asian business schools which have already taken a more practical approach and employed a relatively large number of adjunct faculty with relevant work experience. As a result, don’t be surprised to see more Asian schools doing well in future ranking reports.
For prospective applicants, let this be one more reason to carefully perform your due diligence on your target schools. Business schools are extremely dynamic by graduate school standards anyway and there is a good chance that the school you visit today will be altered at least a bit before you graduate by the AACSB’s new guiding principles.