Click here for the Financial Times Q&A session of December 3, 2008,
The past decade has seen a proliferation of business schools in Europe. But with some European countries already in recession and fears that others may follow, Europe’s myriad schools face a test of mettle.
Are they up to the challenge? Can they all survive or will some be unable to cope with a prolonged economic downturn?
Between 2pm and 3pm GMT on Wednesday December 3rd, Santiago Iñiguez, dean of IE Business School, Spain, Prof David Begg, the principal of Imperial College Business School, London and Linda Anderson, Business Education Correspondent, at the Financial Times answered questions online at:
Question 4 of 20
Taking a cue on this downturn, would it be wise for business schools to introduce Crisis Management as an elective or a core subject?
Praveen Krishnamurthy, India
David Begg: Good management practices are needed in all situations, and the soundest defence to a crisis is to have good systems in place, not to make hasty ad hoc decisions
Santiago Iñiguez: Much of the teaching within business schools is not just focused on managing in good times. The business fundamentals are applicable in different contexts. In times of uncertainty it is important to remember the basics of sound business and management. Of course, in these times management tools related to issues such as cost efficiency, cash management, organizational effectiveness and flexibility become more in demand, and we do emphasise these in our programs. However we fundamentally believe that innovation through corporate venturing, new venture creation is particularly relevant in times of difficulty, as business seeks to find new approaches and new ways of creating value. Crisis provide the acid test for moulding true managers and leaders.
Linda Anderson: I think once the dust has settled many schools will see the need to introduce new topics into their programmes, especially in core areas such as accountancy.