ARE WE IN SYNC? BRIDGING THE GAP BETWEEN INDUSTRY AND MANAGEMENT EDUCATION: THE ROLE OF ADVISORY BOARDS

Industry advisory boards offer an under-researched yet crucial opportunity for higher management education institutions to sync their student transformation process with the demands of real-world business challenges. These advisory boards have proven to be successful in programme re-design, recruitment of students for jobs and internships, and applied research opportunities for faculty. Board members can provide timely information on emerging industry trends and practices, and assist academic managers to strategically respond to them.

The purpose of this work is to analyse the role of advisory boards for academic programmes in the context of a Spanish business school. Specifically, the paper aims to provide insight into how business firms and higher education institutions can collaborate in new and effective ways to enhance the knowledge and skills in their education programmes. Based on the perspectives of participants from both sides of the industry-academic collaboration, the following findings are highlighted: i) the main benefits and challenges of establishing and sustaining an advisory board, ii) the key composition, roles and functions of the board, iii) the similarities and differences in how academic directors and board members perceive the outcomes and roles of the board, and iv) the suggested best practices and future recommendations for engaging a successful advisory board.