Thursday, March 5, 2015

Business Schools that Exceed Market Expectations

Meeting and exceeding standards are two different things. Fostering business schools requires meeting expectations and then moving beyond these expectations to create higher levels of performance. According to a paper in the Journal of Business Studies Quarterly there are 10 things business colleges can do to enhance their performance.

  1. Look beyond today’s practices and standards and move toward future trends in business education.
  2. Applying knowledge management practices to create value.
  3. Acting in practice and philosophy.
  4. Accept risk when moving beyond theory and practice.
  5. Hire faculty and deans who think outside the box.
  6. Follow Kaizen philosophy.
  7. Understand the educational needs of the market.
  8. Stay ahead of the market and be read to change as needed.
  9. Develop a unique value proposition.
  10. Listen to the needs of stakeholders.

It matters little if you are discussing a business school or any other type of school. Many of the ideas would apply to almost any business. Moving beyond standards requires finding ways to meet minimum qualifications and then push for growth. By looking to match company development to market needs and ensuring you have the right staff in place to make that happen is half the battle. The other half is getting everyone focused on the same goals.

McFarlane, D. (2014). Contemporary barriers to excellence in business education. A Journal of Business Studies Quarterly, 6 (2).

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