A New Agenda for Business Schools

In 2005 around 110,000 students in the United States graduated with M.B.A. degrees — more than three-quarters of all M.B.A.'s granted worldwide. Graduate business schools were invented in this country 100 years ago, and, by one measure, all but four of the top 20 business schools in the world are American. The work of these institutions has contributed enormously to the training of talented managers and leaders who have helped guide American economic growth.

Yet on most

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