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Looking at the world of business from a different perspective.perspec UTDallasSchool of Management http://som.utdallas.edu Fully accredited by AACSB International – The Association to Advance Collegiate Schools of Business. The University of Texas at Dallas is an affirmative action/equal opportunity university. with their peers in its network. For example, the organiza- tion plans to provide more benchmarking activities to al- low members to see how they compare to each other. Also under consideration is a program in which three member companies in the same industry would work together to create a single, revolving internship; through the intern- ship, business students would have the opportunity to work three months at each company and compare different cor- porate cultures. At the same time, collaborating companies could gain a different perspective on their shared industry, says O'Sullivan. "We have built a network of exchange for our members," says O'Sullivan. "Now we want to launch projects that bring them together and make use of their differences. We want to take what we already do and do it better." RULE 6: Merge the Best of Two Worlds Under these new rules of corporate engagement, a b-school's corporate partners program can unquestionably serve the complex needs of the business community. But its intrinsic value to the business school itself is just as essential, say these administrators. Often, this value can't be measured on a bal- ance sheet. For business students to get the best education possible, the business school is "only part of the equation," says Poli- cano of the Merage School. "The rest of it must come from the corporate community. We have to establish a strong bond with companies, so that they can tell us about the challenges they face and our students can learn about those challenges firsthand." For example, Policano notes that, as a result of close corporate relationships, Merage faculty have received data for important research, and its students are granted access to valuable consulting work. Microsoft oversees an annual project for 20 Merage MBAs, while Montpelier Investments runs an annual investment strategy competition that allows students not only to benefit from the learning experience, but also to compete for $100,000 in scholarships. Factor in corporate keynote speakers, advisory council service, and other corporate contributions, and an effectively executed corporate relations program may be among the most valu- able assets a business school can have. Such close corporate partnerships afford a business school a direct line into today's business challenges, agrees Hunter. "We believe the closer we are to our partners, the better we understand them and the better we can provide them with the information they need for their ongoing learning," he says. "That's good for them, and it's good for us." There's no better definition of a "win-win situation," say those heading corporate relations initiatives. Successful cor- porate partnership programs provide more varied learning experiences to students and deliver more qualified graduates to the business community. That synergy helps everyone— schools, students, faculty, and business—maintain a sharp competitive edge in a competitive global market. ■ z BizEd NOVEMBER/DECEMBER 2007 55