Free Business Scholars From Their Ivory Tower Chains

Scholars and journalists have long discussed the reason why academia is so academic. And what it is that can done to improve its relevance to public debates, practitioners and social changes.

In reality, research in the field of management and business is a field. That is highly practical is usually not being practical. Particular, research from US MBA programs is typically not design with managers needs in mind. Nor it communicated in the journals they read. In reality, the vast majority of decision makers don’t have access to academic journals. And are not dependent on research regarding how they perform their work.

This situation is a waste of time and energy especially since business professors typically make more than other academics. Furthermore, the salaries in the US particularly are more than those in other nations.

Theory And Practice Scholars

Scholars are compensate primarily for their work in top-rank academic journals. Which are relevant to the academic agenda of their peers. Rather than by the real-world demands of policy makers and managers. Management scholars, for instance, write extensively about the latest. Debates in the field of theory regarding routines, learning and the cost of transactions. They are, however, in the dark about the causes and effects from the financial meltdown. And that of the Rana Plaza factory collapse in Bangladesh as well as the string of airline bankruptcies across the US.

The gap was highlight during a recent event in the US concerning projects and organizations. Despite the ever-growing necessity of understanding how complex projects are manage, some researchers present questioned the value of studying project management because they thought it wasn’t contributing in any way to existing theories about organizations. The impact on the real world didn’t bother them.

This kind of thinking is, in my opinion not just ignorant, but also expensive for society as it can encourage (highly compensated) researchers to create very abstract and not practical knowledge.

Examples From Overseas Scholars

In contrast, other countries, like the UK have shown how scholars can exert an impact on discussions and practice. For instance, the highly successful project of mega size Heathrow Terminal 5 in 2008 and London Olympic Park in 2012 employed a project management method created by scholars from Imperial College Business School.

The PS170 million City Deal for Brighton the development project, which aims to encourage growth by investing in. The digital and creative industries clusters, was born out of ideas from academics at Brighton and Sussex. Universities of Brighton and Sussex and Sussex, who presented data in their Brighton Fuse report.

The report that was release of the toxic culture of British retail banking by researchers from Cass Business School. Which Forbes and The Guardian both feature their respective publications, shaping the discussion in the UK about what is need to avoid another financial crisis.

In fairness, certain individuals in the US like strategist Michael Porter at Harvard and young management. Thought leader Adam Grant at Wharton, have also had an impact as writers and consultants. inspiring books. However, these are exceptions rather than the norm.

The Difference Between Practice And Research

Why has management and business study in the US been unable to make greater impact? There are three major reasons. Then it was the campaign by certain US universities as well as in the Ford Foundation in the 1950s and 1960s to transform. Management research into a thorough social science, on the same level as economics, psychology and engineering. This has meant that the research’s quality is measure based on academic rigor and quality. No matter how useful it may be in actual practice.

Furthermore, business researchers and professionals in the US generally come from different worlds. The process of obtaining a professional PhD within the US is a risky investment. That only qualifies to work in the academic field. The majority of business students don’t even consider it. Because it’s much easier to make more money as a banker, consultant or manager. Instead of wasting time and money on the PhD.

Instead, faculty and PhD positions in US universities for business are usually filled by sociologists with a strong academic. Background psychologists, economists, and psychologists who are seeking high-paying, secure positions. This could make the communication between researchers and business professionals more difficult.

Thirdly, the rankings of business schools tend to be skewed towards giving any tangible impact. Business schools that have experienced students rise up the ranks, and attract students and endowments, regardless of the actual impact. The success of a school is reflected in the success of its students. No matter whether the research conducted at top universities can be applied to real-world situations.