The Role of Business Schools

Abstract

As we have seen in earlier chapters, both management theory and practice are in a state of flux. Although a great deal of empirical research has been carried out, and hypotheses abound, there is, so far, no unified theory of management. At the same time, many recipes in practice of ‘how to do it’ lack any substantive foundation and more often than not turn out to be of the hit and miss variety. And yet, there is a need for managers to learn from past experience and to appreciate what contributions various disciplines can make to the understanding and control of the business scene. It is generally expected that the appropriate place for this body of knowledge to be developed and transmitted is in business and management schools.