The Current Crisis:

What should Business Schools Do?

Professor Kulwant SinghDeputy Dean

NUS Business Schoolkulwant@nus.edu.sg

AWSJ, 18 February 2009 Today, 17 February 2009

Business Schools are not responsible for the crisis But we are not free of blame

Have we lost touch with the “real world”?Students not prepared for the profession of management

or

Have we moved too close to businessApplication has become our focus, not education

Internal

Factors

External

Factors

Severity of the

situation

Respond in stages

SurviveStabilizeStrategize

RebuildRe-focus RestructureRe-energize

Re-focus on basicsEducate students for their careers and to be citizens

of society Prepare them to be professional managers Appropriate balance for undergraduates and

graduatesEliminate the myth that we train CEOs

RestructureEmphasize education & conceptual developmentResearch driven focus on core body of knowledgePractical skills are useful complementsDiscard fads: we are not consultants

Re-energizeRegain trust, re-assert our values and valueHelp deal with the crisis

RebuildRe-focus Restructu

reRe-

energize

Educate the public 12 part newspaper series on crisis (October

2008) Second 12 part series on dealing with crisis

(January 2009) Third 12 part series on Globalisation (February

2009) Forums to update students and managers

Students One-credit course on the crisis Increased financial assistance for students Introduce issues into relevant modules Review programmes to strengthen focus on core

Employment Alumni run programmes to prepare students Increased placement efforts Programmes for managers facing transition