Sunday, April 2, 2017

Turning Business Schools into Market Driven Knowledge Generators

Business school education is changing and schools must keep up with the times. Business schools are heavy users of information and share theories and transmit knowledge to bright eyed students. However, they are often behind the market and don't generate the knowledge needed to keep the students coming out of college with the most updated information. According to a study in the Zagreb it is important to turn business colleges into market driven knowledge generators (Jurse, 2010).

Market driven knowledge generation systems are open systems that collect and take in new information and generate new ideas. Universities will need to update faster and adjust to new information in ways that were not seen in the past. New information should enter their halls and create a knowledge based ecosystem.

This will require them to be actively engaged with business to collect the latest and greatest information. They will be partners of knowledge with companies that use that information to enhance their operations. Co-creation of new information and ideas will be the mainstay of a solid business education.

The student receives the benefit of being up-to-date with information and ready to compete in the marketplace. Theory and practicality will blend in a way that allows for useful information that can enhance a company once the graduate is hired.

Knowledge based, open systems are highly innovative and connected to the market through business partners, updating curriculum, generating new theories, and integrating that information into with existing theories. The student will be taught how to use information in a way that applies it directly to practical problems in the market.

Jurse, M. (2010). Evolution of traditional university business school into market-oriented knowledge providers. Zagreb, 22 (2).

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