‘Students come to university to find their place in the world’

What must be done in business schools to make them relevant to the fast-changing landscape of business?

This is one of the questions posed to professor Palie Smart, the professor of operations at the University of Bristol Business School, who is passionate about providing opportunities for students and preparing them for work.

“We have to remember that students come to university, not only to get a degree, but to find their place in the world; and so business schools must provide opportunities for them to engage with that world in their cities or places,” Smart tells Bristol24/7.

“This allows students to contribute to their local communities and feel part of them, as they transition to young adulthood and world of work.”

Bristol24/7 visited Smart in her office on Tyndall Park Road. Even with a hectic schedule under her belt as the associate pro chancellor for Global Civic Engagement at the university, she never lost her passion for research and teaching. A glass trophy on the bookshelf recognises her work – alongside colleagues – on a research paper on “partnerships for environmental innovation”.

So, what is the role of a modern business school?

“Most leading business schools have a mission or vision associated with sustainable and responsible business,” says Smart.

“But this requires tri-sector partnerships between public, private and social sectors and so I think business schools will evolve to incorporate new practices for civic engagement to address global and societal challenges at a local, national and international level.”

Smart is positive about the role of business schools in the modern day

What was considered as the standard practice for years during the heydays of neoliberal paradigm is now considered anachronistic, according to Smart. She adds that words such as sustainability, climate change, fairness and justice have entered the modern business lexicon.

Among the chief movers and shakers of the cooperate world, there is an increasing appetite to bridge the chasm between the global south and the prosperous northern hemisphere.

University of Bristol was the last of the Russell Group universities to launch a business school

Business schools are considered to be the anvils of the business world, where the leaders are forged.

Smart, who is also a fellow of the Institute of British Academy of Management – the first academic from the University of Bristol to be elevated to the post, believes that master of business administration (MBA) curriculums should cater to the zeitgeist of current business and entrepreneurship ethos.

She echoes the concerns of industry experts on the perceived limited professional standards, ethics and identity (when compared to medical, engineering, law, and education schools), a lack of critical thinking, poor methodological and theoretical rigour, limited relevance and a credibility crisis following the last global economic crash.

The story of business schools is a story of resounding success that served the industry well for nearly 150 years. There are some 13,000 business schools globally and approximately 130 in the UK. Apart from their contributions to the higher education sector, they have served organisations, businesses, governments and societies well through their education and research activities.

The University of Bristol was the last of the Russell Group universities to launch a business school.

Despite being the “new kid on the block”, it sprang from the fertile intellectual loom graced by the likes of Sir Alfred Marshall and Mary Paley. Marshall’s work was respected alongside that of influential economists such as Adam Smith, David Ricardo and John Stuart Mills. He moved from Cambridge to take up the position as the first professor of political economy and the first principal of University College Bristol (1877 to 1883.)

Bristol as a pioneer of business and entrepreneurship has been a shining beacon that gave rise to household brands such as Brabazon engines, Harvey’s Bristol cream and Fry’s chocolate.

The city’s rich tapestry of businesses and industries have been a testament to its fine business acumen, coupled with a dash of pragmatism and practicality. This pragmatism calls for an understanding of the existential problems our generation is faced with.

Smart believes that business schools, including University of Bristol Business School, have a duty to look forward to a carbon-lite, fairer and inclusive existence.

According to her, the formula of ‘‘better futures for all’’ at Bristol captures the commitment to addressing global and societal issues which channels the challenge-led and interdisciplinary management research and education contributions.

Asked what business schools should do to ensure that topics of sustainability and fairness becomes an integral part of business education, Smart said: “We can engage with external stakeholders across a wider economy – private public and not-for-profit – and co-design courses so our students can meet their future skills needs.

“We can also appoint more professors of practice, public engagement and second business school academics into organisations. Innovate UK is another national body that business schools can work more closely with to deliver positive change in organisations, institutions or society.”

Smart is upbeat about the future of business schools and firmly believes that they have the ability to evolve and adapt as they have done for more than 100 years.

Smart believes that curriculums should cater to the zeitgeist of current business and entrepreneurship ethos

Pointing towards the seismic changes after World War Two and how business schools quickly embraced the zeitgeist, she said: “We first witnessed this in the mid-20th century, with a response to the post-war crisis, followed by the United Nations Global Compact initiative at the turn of the 21st century, calling for greater responsibility, accountability and transparency in the practice of management.

“It seems business schools have arrived at a strategic inflection point once again.”

All photos: Milan Perera

Read next:

• Building work to start soon on Bristol Uni’s new 500m campus
• We’re working with the city to shape the University of Bristol
• UWE appoints new head for Bristol Business School

Listen to the latest Bristol24/7 Behind the Headlines podcast: