Business schools and the innovation conundrum

Purpose – This paper seeks to heighten and expand understanding of the important role of business education and scholarship in innovation, and consequentially on how this innovation enables business schools to contribute to economic growth and prosperity. Design/methodology/approach – While the foundation of this paper is a new report on the role of business schools in innovation issued by AACSB International, this paper extends the results by integrating more recent studies and reports on innovation. Findings – The report concludes that management and leadership are essential aspects of the innovation lifecycle, and that business schools play a significant role in developing the cadre of individuals with these skill sets. Originality/value – This paper draws on and synthesizes the most recent literature on innovation, as well as relating innovation to issues of economic development and prosperity. In doing this, it calls for business schools to proactively define their unique contributions to innovate and to become advocates for the significance of management and leadership in competitive success.