Influencers in the management education ecology

Media-produced ratings, ranking agencies as well as civil society organizations such as community groups or religious organizations all influence other stakeholder groups that operate within the management education ecology. We classify accreditation bodies under this heading too but will treat their recommendations separately.

Currently, we only have a limited set of recommendations for rating and ranking agencies, mostly covering the perspective for a different kind of a system that is user based. This field needs to be further developed, and we recommend doing so directly in collaboration with existing ranking and rating agencies.

Accreditation bodies

  • Require that business schools state their views on the kind of world we are aiming to create, identify the gaps in their contribution – and how they are going to bridge these gaps.
  • Pro-actively downgrade schools which persist in the current paradigm.
  • Reward experimentation toward a societal value goal.
  • Support faculty training and programs that develop the identified new skills of faculty (coaching, facilitation, inter- and transdisciplinary research, collaborative research approach, issue-centered learning and action research, etc.)
  • Establish standards, benchmarks and guidelines for schools to move their curriculum, faculty retention and promotion, and institutional support towards fulfilling the three new roles of management education.
  • Revise accreditation criteria around the three roles of business education and identify key measures for these roles, in collaboration with concerned stakeholders of management education.

Rating and ranking bodies (both existing and new)

  • Significantly reduce the measure of income earned by students to balance it with contributions to the common good and other relevant measures.
  • Develop metrics which track contribution types that are in favour of creating of the kind of businesses and business system we need.
  • Re-organize rating criteria around the three roles of business education and identify key measures of these roles in collaboration with concerned stakeholders of management education.
  • Consider publishing ranking tools instead of fixed ranking, allowing readers to dynamically weigh ranking criteria instead of accepting the published ranking (and its implied weighings) as the final word.
  • Establish measuring standards in accordance with the three roles of management education, enabling different players to excel either in a selected individual role – or across all three roles.
  • Include responsible management/sustainability criteria based on PRME in rating standards.
  • Work with stakeholders on how to define measuring standards for these roles.
  • Integrate a flexible measuring tool that has change and adjustments built in, as a safeguard against institutions only adapting change on a superficial level.
  • Work with future buyers of management education on relevant categories of selection, allowing a personalized rating for each user in accordance with their priorities.
  • Enable buyers to self-rate schools based on criteria that change as a matter of their choice (a management education advisor similar to TripAdvisor or wiki ratings).

Other influencers (social media and others)

  • Engage with business schools and challenge them on their contribution to the common good. Evaluate them regularly.
  • Create an association of graduates (possibly through alumni organizations) that serve to uphold the professional standard of management graduates.
  • Such an association would seek empowerment to judge on irresponsible behavior of its members and potentially determine sanctions, including the withdrawal of a provided degree or diploma (similar to other professional groups).
  • Demand continued education of all members of such an organization to ensure that their professional levels are kept up-to-date (already a standard practice in many other fields and professions).
  • Lobby governments to transform the licensing criteria for business schools to ensure they serve society first and foremost. See the ESDN Quarterly Report 26.
  • News providers and popular media can work to expose management education’s lack of critical distance, as per the recent documentary Inside Job (2010).