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Quality scholarship is a critical and necessary partner to quality education, but the two functions need not be inevitably intertwined. relationship between research and teaching, we must look at them in a broader context. Yes, research and teaching can be incompatible when a single academic is forced to do both; and, yes, they can be unrelated if faculty who conduct research and faculty who teach do not work together. But when these two areas are equally nurtured, respected, and rewarded, one area can work to enhance the other. At its very best, the relationship between research and teaching is intimate and symbiotic. Researchers conduct studies to generate knowl- edge and make new discoveries for their fields. Teachers share that knowledge with students, instruct them to apply that knowledge effectively, and maintain a dialogue that then sows the seeds for future research. It's a virtuous cycle that cements the missions of professional schools worldwide and accounts for innumerable contributions to society—achieve- ments of which we academicians should be justly proud. To create such symbiosis that enhances both functions to the fullest, business schools should encourage faculty members to focus on becoming great researchers or great teachers. Then, they can use their expertise in one func- tion to help those in the other excel. We argue that, while quality education is inextricably linked to quality research, researchers do not enjoy sole custody of knowledge, nor do they alone possess the skills necessary to deliver that knowledge to business students. A single person does not have to be a prolific researcher and a great teacher to serve an institution effectively. By placing undue emphasis on research, many business schools often distract from, rather than encourage, great teaching. By treating and rewarding the two separately, business schools may find that they would encourage much more depth and precision in the work of their research faculty, as well as more breadth and connection in the work of their teaching faculty. Doing so would create a portfolio of faculty talent that is suited to advance all of the institution's missions. Challenging the Status Quo Remarkably, no one has addressed the empirical link, or lack thereof, between research and teaching, at least in the busi- ness school environment. However, several excellent studies have examined the question across university disciplines. 36 BizEd JULY/AUGUST 2007 The most exhaustive and authoritative of these studies was published by John Hattie and H.W. Marsh in 1996 in the Review of Educational Research. Hattie and Marsh combined the results of 58 indepen- dent studies to detect general trends. To gauge research productivity, they examined not only the number of researchers' published articles, but also the quality of the journals and the number of cita- tions and grants received. To gauge teaching quality, Hattie and Marsh examined student and peer evalu- ations. The two found that the overall correlation between good research and good teaching was a mere .06—that is, close to none. Like any research, Hattie and Marsh's analysis is open to legiti- mate challenge. But their findings suggest that research and teaching are autonomous activities, thus refuting the notion that knowledge creation should be the primary criterion for hir- ing and rewarding faculty. A Broader Perspective Given the available data, we believe that good researchers are not necessarily good teachers—or vice versa. Quality scholarship is a critical and necessary partner to quality education, but the two functions need not be inevitably intertwined. If both skills are instrumental to the success of a business school, then both should be equally rewarded and nurtured. AACSB member institutions—as well as AACSB Interna- tional itself—should broaden their recognition of excellence in ways that validate both aspects of their educational mis- sions. The result will be a community of business schools with more diverse missions; a community of teachers and researchers with more innovative approaches and ideas; and a richer, more comprehensive definition of excellence in modern management education. By definition, a portfolio's balance—be it of one's finances or of a university's business faculty—must be dutifully managed. n z James R. Bailey is the Tucker Professor of Leadership at George Wash- ington University's School of Business in Washington, D.C., and editor of the Academy of Management Learning & Education. Roy J. Lewicki is the Dean's Distinguished Professor at The Ohio State University's Fisher College of Business in Columbus and former editor of the Academy of Management Learning & Education.