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The 1959 Ford Foundation and Carnegie Foundation reports on business schools had a strikingly similar parallel in medical schools. In 1910, the same Carnegie Foundation released a scathing report on medical schools in the USA and Canada. By 1920, 45 % of the medical schools existing in 1910 had disappeared. The way university-based medical schools responded to this watershed event provides lessons for twenty-first century business schools.
The medical school has a business model that depends heavily on research grants. For example, in FY 2013, Johns Hopkins University received over $500 million in grants from the National Institutes of Health. As business schools look to increase funded research, lessons regarding the opportunities and the obligations of funded research would be better for business schools to learn vicariously than through trial-and-error.
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- Lessons from University-Based Medical Schools
Edward W. Miles
- Chapter 14
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