Issue link: http://www.e-digitaleditions.com/i/61383
finding enough qualified faculty. from the consortium partners and taught by a cadre of full- time instructors. However, to accommodate any fresh influx of students, the school maintains a pool of trained adjunct professors who can be called in at any time and who can fol- low the courses as designed. These adjunct instructors might include professors who have full-time jobs at other schools, individuals with advanced degrees who are in the working world, or professors who are currently spending most of their time caring for children at home but who want to keep teaching on a part-time basis. Along with maintaining exchange programs with faculty at established universities, most of these schools enhance their credibility by pursuing some form of accreditation or certification, either through state boards of education or official organizations. Such formal recognition provides reassurance to students considering an education at these privately owned schools. aware of the potential costs involved, from conducting a market survey to generating public awareness of their schools to investing in physical and technological necessities. If these owners don't spend the required funds on research, technol- ogy, and pedagogy, says Cox, "they probably won't be very successful from an educational standpoint." Nonetheless, as worldwide demand for management education continues to grow, the number of privately owned schools is also likely to increase. Traditional schools can choose to view them as competitors or collaborators, either working with them on programming and faculty exchanges or putting their energy into enhancing and mar- keting the strengths of their own established degrees. Traditional universities also can choose to emulate some of the assets of these private schools, particularly by making their own institutions more responsive to the schedules of students and the needs of corporations. Most school admin- istrators understand how important it is to be nimble in today's market, and the agility of these private institutions underscores that lesson. ■ z BizEd MARCH/APRIL 2004 51 What Lies Ahead While representatives from these schools feel they offer an excellent alternative to business students, they are quick to point out that founding a private business school is not a sim- ple matter. Not all countries or regions can support another business school; that is particularly true in areas of the world where there are no companies prepared to hire newly minted MBAs, notes Dalton. "It might be difficult to establish a school where no one values a business degree," he says. Would-be owners of private business schools also must be Faculty Resource Management E X P L O R I N G R E S U L T S, N E W S O U R C E S, & A C C R E D I T A T I O N Pre-workshop at International Conference and Annual Meeting Montreal, Quebec Canada April 17, 2004 Attend this innovative, one-day workshop to explore: current ways for utilizing existing fac- ulty, new sources of faculty, developing faculty for new pedagogical methods, maintaining resources to meet accreditation, and more… Spend the day with other deans and administra- tors who are grappling with the same issues, hear best practices and school cases that are truly new approaches, and examine the possibil- ities for your school! Visit the AACSB International Web site for details and to register: www.aacsb.edu. manage faculty resources? Do you feel like you need a magic trick to