Abstract:

There is perhaps no more common denunciation of higher education in general, and research focused on the social sciences specifically, than the accusation of living in an ivory tower. While Biblical in origin, the term scarcely suggests the positive image of purity and sanctity intended by its earliest religious connotations. Rather, the term has come to imply that universities are out of touch with the practical needs of the communities in which they operate and with the greater “real world”. The accusation is not without merit and may be particularly applicable to the often tenuous relationship between universities and corporations.

Universities and corporate firms have a unique and mutually dependent relationship. Higher education is reliant on firms for internships, jobs for our graduates and financial support for research and endowments. Conversely, the corporate world relies on universities for talent development, applied research and consulting expertise. Given this interdependence it would be reasonable to expect that the two entities would be quite adept at creating, and managing, successful relationships. Yet, all too often neither is particularly gifted at doing so.

This paper suggests that this paradigm need not be the case and offers six propositions for improving the success of forming, and maintaining, relationships and alliances between the business community and higher education. The paper seeks to offer a foundation for future research, both quantitative and qualitative, to empirically support the propositions. Managerial implications include improved stakeholder outcomes for both firms and universities.