The chair of Britain's Association of Business Schools has criticized that government's spending focus on science and technology disciplines over all others, Times Higher Education reported. Angus Laing, the chair, and also the dean of business and economics at Loughborough University, said that STEM disciplines had achieved "totemic status" in government, but that other fields needed support as well. "While these STEM disciplines are necessary conditions for innovation, for a flourishing knowledge based economy, they are far from sufficient," he said at the association's annual meeting.
"Britain has a fine and proud research tradition in STEM. We unquestionably punch above our weight. Yet in commercializing innovations, in business development, in building global-scale industry leaders and brands, we lag behind our international rivals," Laing added. Business schools should be seen not as "institutional cash generators" but as "innovation generators for society," he said.