PhD Shortage 12 16 05

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Who Will Prepare Tomorrow’s Business Leaders? : 

Who Will Prepare Tomorrow’s Business Leaders? School Logo Here

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The Challenge: Recruiting and retaining high quality faculty The differentiator in determining the best b-schools Quality doctorally qualified faculty… attract quality students allows us to maintain our accreditation status and continuously improve receive grants and funding from outside sources School Logo Here

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Prior to the 1960s, business schools were training schools that: Lacked academic rigor Produced Few PhDs Were not well respected within the academic community Had little incentive to “stretch” thinking and tackle complex business problems School Logo Here

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Business and their foundations respond! Major grants by Carnegie and Ford foundations transformed business schools The grants invigorated a generation of PhD program growth School Logo Here

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The results: Significant growth and improvement in b-schools Advances in research, teaching A new generation of exceptional, creative managers for an increasingly complex world School Logo Here

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But since the mid-1990s: PhD production has plummeted Student enrollments continue to grow Few new PhD programs created

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Why are b-schools producing fewer PhDs? Budgeting pressures - PhDs are expensive Rankings reward MBA programs at the expense of PhD programs

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Immediate Impacts Not enough teachers for expanding student population Overcrowded classes, less student access to thought leaders Skyrocketing PhD salaries and bursting budgets School Logo Here

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A Risky Future U.S. business will lose its leadership, creativity, and entrepreneurial advantage due to reduction in student preparedness PhD costs will be untenable The U.S. economy will deteriorate School Logo Here

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How serious is the problem? Up to 260 positions were unfilled in each year Projections are that 1000 positions may go unfilled in 2006 Minority and women faculty are in short supply _________ has already seen the impacts School Logo Here

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What must be done now: AACSB initiating “bridge programs” The U.S. Department of Education must change its “no money for higher education” attitude toward b-schools Business recognition of the challenge and support of PhD programs in business is critical School Logo Here

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AACSB International, on behalf of its more than 1,000 members in 70 countries, asks each degree granting b-school to launch funding initiatives for their PhD programs and increase PhD production. School Logo Here School Logo Here

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Business: We Need Your Help Support funding opportunities targeted directly to PhD programs Aid in the effort to increase government funding of business doctoral education Encourage bright minds to pursue doctoral education School Logo Here

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Thank You. School Logo Here