Having taught at five business schools over several decades and served as Dean of two, I have come to a conclusion: The educational institutions where our future business leaders are being trained must be recalibrated and transformed dramatically.

Business education today is anachronistic in both how it is conducted and what its content focuses on. Our brick institutions have in no way caught up with what today’s technologies make possible in terms of virtual learning and individualized, customized instruction. More importantly, business education needs to evolve once again, revising its goals to educate leaders of the future who have a new set of skills: sustainable global thinking, entrepreneurial and innovative talents, and decision-making based on practical wisdom.