Knolege creation - Essay Example

Modern day business research has become restricted to what Tranfield and Starkey refer to as ‘academic fundamentalism’ ( 1998, page 350) . The research concentrates on the theoretical and has little on no practical value for business, but is published purely for selfish reasons, as a means of career enhancement. Their findings are ignored by real business practitioners and read instead the works of management gurus such as Jack and Suzy Welch’s ‘Winning: The Ultimate Business How-to Book’ ( 2005) in order to discover how best to manage their companies.

The usual image of a researcher is someone in a flapping white coat, standing in a laboratory surrounded by flasks, retorts and bottles trying to find a new solution to a medical or chemical problem. It is difficult to imagine what a ‘business school researcher’ must look like. It seems to me that the most advantageous future of business schools would be an amalgam of the best of academics and or practise, as described by Starkey and Tempest (2008, pp. . There is, as always, a need for people trained in the basics of finance , in accounting , human resources and so on, and some people will always stay at these levels. . Managers and, even more so, business leaders require knowledge of these fundamentals of good business, but other things are needed too, such as psychology or philosophy.

In mid-level business schools such studies can be provided, and be financed by a variety of sources – government grants, student fees as well as obtaining funds from business backers. If actually receiving funds from businesses their research is more likely to the real needs of business. The economy is going through difficulties worldwide, and this includes the economies of education. All around the globe, if not now, very soon, government funding will be reduced or cut completely. How will the business schools survive?

A few perhaps could concentrate their resources and limit themselves to niche aspects of business studies. Failure to do this might result in them becoming merely trade schools. Other schools could turn their resources to promoting environmentally sustainable and profitable businesses, and yet more could set their sights on international co-operation and management. The remainder could specialize upon socially responsible business management in societies that are nevertheless capitalistic. The non-monetary connections between the academic world and that of business could be increased if there were individuals prepared to move more often, an dif this were made easier – from business to academia, from academia to government, from politics to academia.

This would result in a combination of academic research and better work place practise.