Academy President's Executive Overview: One of my most pleasurable, though daunting, jobs as president of the Academy of Management in 1998-99 was to select the Distinguished Scholar and Executive of the Year. I was lucky enough to find two people who have been in conversation for some time about an issue that deeply concerns me. In my presidential speech, which will appear later this year in the Academy of Management Review, I outline changes in the way knowledge is being created - both in academic disciplines and in companies. I think these changes are changing the nature of business schools, and potentially jeopardizing their future. James G. March and John S. Reed have had similar concerns for some time. The following article summarizes some of their conclusions.