Disrupt or Be Disrupted

Graduate Management Admission Council (GMAC) Founded in 1953 by the deans and admissions officers of leading schools of business and management, the Graduate Management Admission Council (GMAC) is owner and administrator of the Graduate Management Admission Test (GMAT)—the most widely adopted and trusted admissions exam of its kind. More than 2,000 schools in 110 countries today use the GMAT exam to assess applicants to more than 6,000 graduate business and management programs. With its vision of being the leader in connecting talent and aspiration to opportunity, GMAC has expanded its business and staff—as well as its membership—internationally and has adapted its role in graduate management education to include professional development, industry-wide conferences, world-class research, product development, and the global promotion of management education. Today, the not-for-profit Council continues in its mission to improve the discovery and evaluation of talent and deliver on its core belief that business and management—and the teaching of both– are critical to the economic, social, and financial well-being of people worldwide.THE EDITORSBrooks C. Holtom is associate professor of management at the McDonough School of Business at Georgetown University.Erich C. Dierdorff is associate professor of management at the Driehaus College of Business at DePaul University in Chicago.

• Foreword viiGeorge S. YipIntroduction: The Change Imperative 1Brooks C. Holtom and Lyman W. PorterChapter 1 Ensuring and Enhancing Future Value 21Erich C. Dierdorff, Denis J. Nayden, Dipak C. Jain, and Subhash C. JainChapter 2 Framing and Making Strategic Choices 57Michael HayChapter 3 Managing Aspirations, Resources, and Cost Structures 95Jikyeong Kang and Andrew W. StarkChapter 4 Intellectual Signatures: Impact on Relevance and Doctoral Programs 131JC Spender and Rakesh KhuranaChapter 5 Curriculum Matters: Toward a More Holistic Graduate Management Education 179Sara L. Rynes and Jean M. BartunekChapter 6 Overlooked and Unappreciated: What Research Tells Us About How Teaching Must Change 219Kenneth G. Brown, J. Ben Arbaugh, George Hrivnak, and Amy KenworthyChapter 7 Student Engagement: Selection, Management, and Outcomes 259Daniel C. FeldmanChapter 8 Reclaiming Quality in Graduate Management Education 297Robert S. Rubin and Frederick P. MorgesonEpilogue 347Erich C. Dierdorff and Brooks C. HoltomAcknowledgments 373About the Contributors 375Name Index 395Subject Index 405

"... an interesting book which deserves to be read by all of us involved with management of any description.... A thoroughly recommended read." (Project, July 2014)