Co-Creation of Knowledge between Business Schools, Business Firms, and Learners

Abstract

Business education is witnessing a well-guarded scrutiny from all the stakeholders. The B-schools are regularly criticised for their irrelevance to the real world business practices. There is no tapering the gap found between academia and business. There is not much fundamental change in bridging this gap. Umpteen models are developed to enhance the effectiveness of business education; very few B-schools really have reached the milestone. Markets are changing faster than marketing. Business strategies taught in the classroom no longer comply with the boardrooms in the realistic corporate world. In this dynamic world of business knowledge, and to apply its wisdom in real time world, there is a requirement for proactive co-creation of knowledge between the business schools, business firms, as well as the student participants as learners. Learn, unlearn, and relearn is the order of the day, and how engaging is the business programme, translating the knowledge into skill-oriented or application-oriented activities, in sync with the real time business world, is the need of the hour. The paper is conceptual, exploring a rich literature review of scholarly research papers. The research is secondary research that scrutinises and analyses different literature, and based on the information acquired from the literature this paper makes a humble attempt to examine knowledge co-creation, in the form of indispensable knowledge, that is interfaced between the B-schools, business firms, and the learners. The paper deals with the inter-dependencies of the 3 components eliciting knowledge transformation.

Keywords: B-School Education, Co-Creation of Knowledge and Value, Collaboration of B-Schools and Business Firms

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