1. 1 The Enduring Value of the MBA Dipak C. Jain Kellogg School of Management Northwestern University

2. 2 Mission of Management Schools Knowledge Creation Knowledge Dissemination Knowledge Certification

3. Time Up to the 19 th Century Land Acquisition: Colonization UK, Spain, Portugal, France Focus 21st Century Human Capital Development: Capabilities/ Competencies Rise of Asia (China & India) 3 20th Century Capital formation & Competition: Capitalism US, Europe, Japan Evolution of Global Business Key Players

4. Evolution of Management Education Time Period Pedagogical Tools Used Decision Making Driven By Focus On Late 1960s to the late 1990s Theoretical Frameworks driven by Academic Research Data Analytics Academic Rigor Up to the mid 1960s Case Studies Judgment + Intuition Business Relevance 2000-2008 Analytical Frameworks + Experiential Global Learning Business Insights + Corporate Ethics Academic Rigor + Business Relevance 2009 and beyond Analytical Frameworks + Experiential Global Learning + Renewed Risk Management Models Business Insights + Ethics + Global Challenges Academic Rigor + Business Relevance

5. Management Schools: Move Beyond Conventional Boundaries of Thinking 1. Beyond Business 2. Beyond Success 3. Beyond US Centric Curriculum Business + Society Success + Significance Developed + Emerging Markets 5

6. Stakeholders of Management Schools 1. Students “Earning” vs. “Learning” 2. Faculty “Research” vs. “Teaching” 3. Alumni “Engagement” vs. “Involvement” 4. Corporate Partners (Recruiters ) “Rigor” vs. “Relevance” 5. Media “Ranking” vs. “Reputation” 6 Key Issues

7. Key Challenges 1. Increasing Competition and Complexity 2. Faculty Attraction, Development, and Retention 3. Managing Student Expectations 4. Alumni Involvement and Engagement 5. Building a Culture of Philanthropy 7

8. 8 Summary “The future of competition is collaboration” - Dipak C. Jain