Teaching Business Graduates to Apply Theory

Students enter graduate school with an abundance of hopes and enthusiasm to transform themselves into the next guru CEO that transforms companies to great profit. Sometimes that enthusiasm dissipates when they realize the equally abundant amount of work that is necessary to learn the skills needed to achieve that success. The ability of students to understand higher levels of theoretical material and apply that material to solve important problems for “real world” performance is beneficial for life success.  Graduates who know how to understand theory and apply it are worth more than those who cannot.

It is through this application that theoretical models are adjusted to working models that adequately function within the business world. When theories are adjusted and refined they provide a level of feedback that helps to ensure the theory continues to adjust to a more practical end. The development and attempted application of theory is part of the process of business development.

Some students, unfortunately too many students, read information and rephrase it without trying to understand the information at a deeper level. Graduate students should be more like working scholars that read, understand, and apply best practice theories to solve everyday workplace problems. Their ability to move beyond simple citation and regurgitation is important for future growth and success. 

Graduate students should receive their Master Degree Diploma’s with a level of knowledge and skills that transfer to the modern workplace. Unfortunately, many business school students’ graduates lack sufficient writing, interpersonal communication, and critical thinking skills to effectively navigate their work environment (Everson, 2014).  Making them seek relevant information and communicate about it is important for their development.

The use of theory to solve practical problems can have strong business implications that can better bridge the gaps between the business community universities. For example, business and communication students at a large university in the U.S. competed to solve authentic business problems proposed by a Fortune 500 Company (Brozovic & Matz, 2009). The company was impressed with some of the recommendations and implemented them into their operations while students were able to learn how to apply theoretical knowledge. 

Such collaborations between the business and the academic world are unfortunately rare. Higher education has a responsibility to adequately prepare students for successful employment while business should ensure that business colleges are teaching appropriate curriculum that suits their needs long-term needs. Building connections between the two worlds can only be helpful for the development of both.

Students may resent having to look in the library for materials, read those materials thoroughly, and then formulate an opinion on how to apply the concepts but this is vitally important for successful business management. Business is about solving consumer and market problems and those future executives that can apply knowledge to difficult problems are not only likely to be more effective but also increase their value through continuous learning. 

Brzovic, K. & Matz, I. (2009). Students advise fortune 500 company: designing a problem-based learning community. Business Communication Quarterly, 72 (1). 

Everson, K. (2014). Shrinking the business school skill gap. Chief Learning Officer, 13 (9).

Book Review: Brilliant Blunders by Mario Livio

Science is not as concrete as we believe it to be. What we know today as fact was once only theory. Only through the evaluation of those premises, conclusions, and so called “facts” can society continue to develop its scientific beliefs. Brilliant Blunders highlights those major miscalculations by great scientific thinkers that led to other discoveries and truths even though that was not the scientist’s intention.

Let us consider Einstein’s General Theory of Relativity that proposes objects move in relation to each other in time creating the space-time continuum that still holds true today. He also proposed a concept called dark energy. He later removed the theory calling it a mistake. A problem resulted when other researchers confirmed that it actually exists. NASA currently believes that dark energy constitutes most of our universe and Einstein was right.

Science is on its own continuum of development. Mistakes are rarely accidental and require significant learned skill to make correctly. For example, the incorrect model of DNA proposed by Linus Pauling was wrong but also helped to develop a better model of DNA. The same can be said of Darwin’s Origin of Species. The incorrect models of thinking were leaps in intellectual advancement that helped others to think differently.

Science is about putting forward a hypothesis, model and theory. They are all only explanations that can change over time as new discoveries are found. A hypothesis is tested to create a model and models are used to develop theories. A model is the physical representation of a theory and is used to generate a theory. Sometimes models are derived from a theory to test the validity of that theory.

People propose ideas and concepts and these may not always be correct. However, as they move through the scientific method they also develop affirmations and negations that can be used in other theories. Science is an additive process whereby each study helps lend support or remove support for concepts until a predominant theory takes hold. Blunders are part of that process of learning.

The book helps scientists understand that there is no such thing as a mistake as some of the greatest discoveries in the world are mistakes. Mistakes add to the body of knowledge and this body of knowledge makes its way slowly into the collective intelligence. Such knowledge is then used to advance practical concerns in the business and civilian world. If you want to understand how to make a mistake the right way read this book.

Livio, M. (2013). Brilliant Blunders: From Darwin to Einstein-Colossal Mistakes by Great Scientists that Changed Our Understanding of Life and the Universe. Simon and Schulster, NY. ISBN 9781439192368

Are all Businesspeople Artists?

Art and business are often seen as two radically different fields that appear on the surface to have very little in common with each other. Art is for the romantic while business is for the realist. Art is a dreamer’s occupation and business is for the hard-nosed adherent to the facts of life. This artificial mental barrier may not be true as we think for art and business are integrally tied to the ability to see possibilities.  

There are obvious connections between the two once we start digging into the nitty gritty of their existence. For example, in marketing business requires the use of art to create stories, messages, and themes. It would be difficult to attract new customers in an atmosphere of marketing fatigue unless you are willing to do something unique. Most of us remember the really creative commercials that take into consideration visual artistic design. 

Let us move a little deeper into the use of art and business for product development. Successful business are able to convert products and services to new forms that generate higher value on the market. Art allows one to visualize something new, explore a previous unknown form, or ponder improvements while understanding how people will view them. Without a level of creativity these new products and services will never enter the conceptual stage. 

At an even deeper level we can find an association between theory and creativity. All theory is based on imaginary models that are tested for validity. The ability to visual how different components work together and interact in theory is similar to understanding how the varying colors work together to create an entire picture. Finding, formalizing and testing is all mental play that can generate great products like electricity or airplanes. 

There are differences between art and business but these are surface differences. Art is exploration of human experience while business seeks to reinforce that experience. It is difficult to sell products if you do not have a clear understanding of how self-identity influences the type of products people purchase and the underlining human experience that influence motivations. 

As a business person you may not view yourself as an artist. However, you are the maker and the creator. The better you are at your craft the more likely you are to sell that ability on the market. You must be able to see the options and opportunities through your abstract thinking to make strategic decisions. Failure to see new possibilities, build new products, and generate new sources of revenue means the eventual collapse of your business. 

Type of Art: music, painting, sketching, mechanical drawing, photography, acting, dancing, etc…