Business faculties stretched to the limit

Foreign business students are keeping Australian universities afloat, with their fees cross-subsidising other faculties. The result is an unsustainable model that is stretching business faculties "to the limit", according to professors of strategy Timothy Devinney and Grahame Dowling from the University of Technology, Sydney. To address the present crisis, Devinney and Dowling proposed a "professions-only university" funded by government and business to teach management disciplines, plus economics, accounting and law. This "national icon" would have campuses in Sydney and Melbourne and be based on a $400 million endowment built across a decade. Devinney and Dowling pointed to a range of national business schools, including SMU, as examples of how their proposal could work and suggested that "it would serve to reduce the undue stress being placed on our existing university structure" and better connect management education with business. "Australian business schools have very little interaction with the business community and are generally ignored by the big end of town," they said.

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The Australian