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Instability, Innovation, and accounting education

Fri, March 15, 3:30 to 5:00pm, Meeting Hotel, TBA

Abstract

Abstract
During the last few decades, financial prosperity and technological advances in the United States of America (U.S.) have resulted in long periods of stability for business schools and accounting education. Complacency with long periods of stability has resulted in escalation of commitment in which established business schools continue to pursue sustainable innovation while upstart organizations gain ground by offering disruptive innovation. On the other hand, globalization of markets and products, advances in technology and weak ethical foundations have built fingers of instability in existing educational models and enabled disruptive innovations. This follows a historical trend; continuous cycles of periods of stability followed by periods of instability (Minsky, 2001). The greatest danger lies in what Minsky (2001) further explains as the extent of correction required when the trend fails. Business schools will find themselves in situations that will require dramatic, post hoc change approaches in order to avert potential disaster. An approach to lessening the extent of correction needed in order to avert large disruptions in the future is needed. An ad hoc, inter-disciplinary, project-based learning framework can provide an approach to change that could avert coming disruptions.

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