Business Education in an age of science and technology

The global economy is increasingly dependent on science and technology. Joseph McCann has written in BizEd that the “Next Economy” is a “science and knowledge economy” in which “industries revolve around the convergence of technologies such as computing, communications, and engineering, and the growing importance of life sciences such as physics, biology, and chemistry.” (McCann, 2006). In part, this transition reflects the commercial opportunities afforded by the persistent, exponential progress of scientific and technical innovation in fields such as computers, communications, genomics, genetic engineering, and nanotechnology. In part, it is also necessitated by circumstance, as our societies and economies confront the multifaceted challenges of stagnant economic growth, globalization, feeding and meeting the resource demands of a world population expected to reach 9 billion individuals by mid-century, and global climate change. This chapter describes how science education may be tailored to meet the needs of business students.