{"id":55871,"date":"2021-02-04T11:34:53","date_gmt":"2021-02-04T19:34:53","guid":{"rendered":"https:\/\/world.edu\/?p=55871"},"modified":"2021-12-02T14:48:47","modified_gmt":"2021-12-02T19:48:47","slug":"no-more-business-as-usual-in-the-great-reset-business-schools-must-lead-the-way","status":"publish","type":"post","link":"https:\/\/world.edu\/no-more-business-as-usual-in-the-great-reset-business-schools-must-lead-the-way\/","title":{"rendered":"No more business as usual: in \u2018The Great Reset\u2019 business schools must lead the way"},"content":{"rendered":"

\"\"<\/p>\n

Business schools have a major role to play in what the World Economic Forum calls \u201cThe Great Reset<\/a>\u201d as the world adjusts to the COVID-19 pandemic. To contribute to their full potential, business schools must change. So too must universities and the businesses that support and engage with them.<\/p>\n

Much of the focus on universities during the pandemic has understandably been on the crucial work of developing vaccines and medical equipment, and on fields such as epidemiology. Business schools can valuably contribute to these efforts too. For example, with their expertise in managing supply chains, operations and logistics they can advise on the massive challenge of manufacturing and distributing billions of vaccines, and scrutinising the integrity and ethics of vaccine testing and rollout.<\/p>\n

Beyond these immediate challenges, business schools can help businesses redefine their purpose in the post-pandemic world. That starts with re-examining dated models, many of which have been driven since the 1970s by the\u00a0mantra of maximising shareholder value<\/a>.<\/p>\n

Business schools possess expertise in fields as diverse as assessing and managing risk in highly uncertain circumstances, and in rebuilding trust with stakeholders that might have been adversely affected by the health crisis. Business schools can draw on their expertise in change management, organisational development, human resources and information systems to help sustain different patterns of organisation and work, including more decentralised decision-making and working from home.<\/p>\n

Business schools must change<\/strong><\/h4>\n

The mission of business schools has evolved. Today their horizons have expanded towards improving well-being in society. Their stakeholders extend beyond students and businesses to include governments and not-for-profits.<\/p>\n

Business schools were already under pressure to respond to the pace of change in technology, competition and social expectations. COVID-19 has provided impetus to rise to the\u00a0call for business to lead social change<\/a>.
\n