KEY POINTS

• The attraction, development and retention of the best possible faculty – and staff – are probably the most critical success factors for a business school.

• New team members must fit with the established culture – team players rather than individualists – and they should be at the cutting edge in their ability to engage in thought leadership. They should also add to the school's capabilities to engage in the types of institutional learning relationships that it has chosen to pursue.

• Business schools that avoid the typical structures of classic academic institutions – with their academic departments (silos), title hierarchies and tenure – are both a major attraction for many productive academics at other schools and a way to create positive institutional energy: little or no politics, no unnecessary committees,

• no seniority differentials and the like.

• A feedback and bonus system should be put in place that gives individual faculty members a chance to regularly – say twice a year – discuss their plans, performance, development issues and constraints with the school's leadership.