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Mostly but not entirely.
Business, in my opinion, is not an abstract discipline like math or physics are. The latter disciplines were substantiated, made understandable and put to useful use by the mass (when education was reserved for the elite, before the industrial revolution) through observation, experimentation and analysis. They are undeniably to be attributed to academic scholarship than to business.
But businesses, entrepreneurship and businessmen as entities, on the other hand, were always there since ancient times. They are the that who shape(d) both, the contours and content of business books back then and nowadays, frequently "inviting other disciplines in" to provide invention, analysis or improvement. Like psychology (and IT = internet) in marketing and physics, biology, chemistry, math and technology in production, logistics and accounting, for example.
A successful business strategy that goes against existing acadmic theory, will sooner or later find its way to business books, but a genius but detached academic theory that proves useless in real business life will scrap itself from mainstream business books, evidently.
Not the best example, but certainly one. SPAM emails used to be accepted (or untackled) as a form of "mass marketing" until filtering and opt-in technology presented themsleves (through non-business science) allowing businesses to devise & dictate the best new policy, to be taught in new business books. Business were the first ones to decide that spam was evidently bad for them, then came the analysis and technology to provide a possible solution.
I agree to disagree! In the first instance "necessity is the mother of invention", it didn't necessarily take an "academic" to invent the wheel, it probably took someone who was really tired and fed up with carrying heavy weights to think "there must be a better more simple way of doing this"! Having said that, most academics enjoy the challenge of solving problems and couple that with some timely entrepeurnership and financial "clout" and you will possibly have a money making situation!!
Pretty much,
Yes I do agree with you due to academic institutions produce potential to lead the business.
You need not be an acedemic to come up with an idea. Anyone can come up with idea. The role of scholars/academics is to try to find solutions to complex problems which are bugging our world.
Converting an idea into a successful business is easier said than done and morphing the business into a
serious money making one even more difficult.
Yes I agree and wish to add that the world of business creates experience to learn from for more valuable learning.
Agree by far, because the academic study is the foundation.
True and false! It depends on academics as individuals. Majority may be like that, however there are a number of true blue academics who abhor fame and money and they are intrinsically rich and contended. Money and power can not buy knowledge. And wisdom is too high to be scaled.
yes100% agree
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