Restoring the Relevance: Conceptualizing a Collaboration Model for Business Schools

There are growing debates on practicality of academic services offered by business schools. Recent studies suggest business schools to collaborate with stakeholders to restore the relevance. However, there is eclipse in the literature with reference to collaboration models that generally maps the linkage of business schools with stakeholders. Potential stakeholders of business schools in this study are discussed in two broad segments, namely, primary and secondary stakeholders. Primary stakeholders are students and alumni, and secondary stakeholders are business organizations, non-business organizations and academic institutions. To understand and specify needs and expectations of stakeholders, business schools first need definite mission and vision. Based on that, business schools could identify those stakeholders who they want to serve through academic services. This study attempts to conceptualize a holistic collaboration model that business schools could adapt and proposes method to develop collaborations with potential stakeholders.