Do business schools have a role in stem education?
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This document discusses the role of business schools in STEM education. It notes that STEM jobs are expected to grow significantly by 2018, especially in computing fields. However, many students lose interest in STEM fields before graduating high school. The document also outlines the US government's strategic plan to improve STEM instruction, engagement, and degree attainment. It argues that business schools can benefit from participating in STEM through new degree programs, partnerships, and visibility. Examples provided include the Professional Science Masters, which combines STEM and business training. Key questions are raised about how business schools can better engage with the national STEM agenda.
![STEM Jobs and Workforce
In 2012, US STEM workforce
surpassed 7.4 million workers
Expected to grow to 8.65
million by 2018
By 2018, the bulk of STEM
jobs will be in Computing
(71%)
28% high school freshmen
declare interest in STEM.
57% lose interest in STEM by
the time they graduate.
[Source: STEMconnector, MyCollegeOptions, 2012-13]](https://image.slidesharecdn.com/43dobusinessschoolshavearoleinstemeducation11132013x-131118093840-phpapp02/85/Do-business-schools-have-a-role-in-stem-education-3-320.jpg)
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Do business schools have a role in stem education?
- 1. Do Business Schools Have a Role in STEM Education? Munir Mandviwalla, Temple University Michael Goul, Arizona State University Larry Dignan, ZDNet and SmartPlanet, CBS Interactive Brad Jensen, US Airways
- 2. What is STEM? Government initiative Science Math Technology Resource allocation mechanism Political rallying cry Engineering Educational programs
- 3. STEM Jobs and Workforce In 2012, US STEM workforce surpassed 7.4 million workers Expected to grow to 8.65 million by 2018 By 2018, the bulk of STEM jobs will be in Computing (71%) 28% high school freshmen declare interest in STEM. 57% lose interest in STEM by the time they graduate. [Source: STEMconnector, MyCollegeOptions, 2012-13]
- 4. Global STEM Profile S&E PhDs by World Region 35,000 80% 30,000 75% U.S. Citizens 70% 20,000 65% 15,000 USA 60% 10,000 Germany & UK 55% 5,000 %U.S. Citizens** S&E Ph.D.s Conferred 25,000 Asia* 0 50% 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 1 3 5 7 9 0 1 2 3 4 5 197 197 197 197 197 198 198 198 198 198 198 198 198 198 198 199 199 199 199 199 200 200 200 200 200 200 USA UK & Germany Asia % US Citizens *Asia includes China, India, Japan, South Korea, and Taiwan. **Includes Permanent Residents. Source: National Science Board, Science and Engineering Indicators 2008, Appendix Tables 2-31 & 2-42. Updated January 2008. Analysis by the Council of Graduate Schools. Source: Craig, Thomas, Hou and Mathur, “No Shortage of Talent: How the Global Market is Producing the STEM Skills Needed for Growth, Accenture, 2011
- 5. 5 Year Federal STEM Education Strategic Plan Improve STEM Instruction • Prepare 100,000 excellent new K-12 STEM teachers by 2020 • Support the existing STEM teacher workforce. Increase and sustain youth and public engagement in STEM • Support a 50 percent increase in the number of U.S. youth who have an effective, authentic STEM experience each year prior to completing high school. Enhance STEM experience of undergraduate students • Graduate one million additional students with degrees in STEM fields over the next 10 years. Better serve groups historically underrepresented in STEM fields Design graduate education for tomorrow’s STEM workforce • Increase the number of underrepresented minorities that graduate college with STEM degrees in the next 10 years. • improve women’s participation in areas of STEM where they are significantly underrepresented. • Provide graduate- trained STEM professionals with basic and applied research expertise, options to acquire specialized skills in areas of national importance and mission agency’s needs, and ancillary skills needed for success in a broad range of careers.
- 6. Why is STEM important? • Grants • Scholarships • Talent (visas) Resources • Ranking • Media • Prospective students Visibility • Not enough STEM jobs • STEM jobs don’t require STEM degrees • Wage stagnation • STEM knowledge is more important than STEM degrees • It is only a national anxiety Is STEM legitimate?
- 7. STEM and Business Schools Disciplines • • • • • Accounting Economics Information Systems Marketing Operations Research • Entrepreneurship • Statistics • Finance STEM Topics • • • • • • Information Technology IT auditing Actuarial Science Analytics Cyber-security Systems
- 8. Questions Can/should Business Schools participate in STEM? How can your school benefit? What does STEM mean to industry?
- 9. STEM in Industry What is industry looking for? Are there jobs? TALKING POINTS • Focus on Analytics means that STEM is even more important • Business and STEM need to merge to sustain automation and lead innovation • Goldman Sachs is really a tech company • MBA’s will need to manage STEM graduates
- 10. How can your school benefit? Short term benefits STEM designation Long term benefits • Financial aid • Scholarships • Visas • Alliances with UG programs in Science and Engineering • Grants • New markets • Relevance
- 11. Example: The Professional Science Masters Emerged from grants by the Sloan foundation Combines STEM with business training Samples • Business Analytics • Information Management/Systems • Accountancy Students • 5th year STEM graduates • Current STEM workers wanting to move up or laterally
- 12. Next steps STEM designation for your degree program Review of New B-School STEM STEM programs programs • How do you get it? • What are the steps? • What do you need? • Survey existing programs • Create a directory • Identify promising areas • Engage local industry Recruit STEM UG’s into MBA or Specialized Masters • How do you do it? • What are they looking for? • What resources are needed? Partner with STEM fields • Example: 4+1 engineering and entrepreune rship Discourse • How do we participate in the national STEM discourse? • Get a place at the table?
- 13. Key Questions Is industry feeling the benefit of all the attention being paid to STEM education? How should business school deans work with those in STEM and get more engaged with the national STEM agenda? Is the Professional Masters model the way to go? Does it take STEM + business to hit the ground innovation-ready? Is the MBA degree working for fields where STEM is important? Are current STEM undergraduates sufficiently business savvy?