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The Association to Advance Collegiate Schools of Business, an accreditor, last week released a new "vision" for management education. In a report the group identified five roles business schools are well positioned to fill, including being catalysts for innovation, co-creators of knowledge, hubs of lifelong learning, leaders on leadership and enablers of global prosperity.

"Business education has changed dramatically in the past decade, and schools are facing increasing pressure to drive positive economic and social impact," said Santiago Iniguez de Onzono, chair of AACSB's Committee on Issues in Management Education, chair-elect of the AACSB Board and dean of IE Business School, in a written statement. "Currently many business schools across the globe are already rising to the challenge. By identifying a clearer path forward, the collective vision helps to accelerate the transformation already underway, while becoming a key resource for business schools as they innovate and contribute to society in a more meaningful way."