This report begins with an analysis of the historical development of management education in Britain since 1945. This is for two reasons. Firstly, to provide a context for understanding conflicting themes in current debates about business schools. Secondly, it is to emphasise the different types of business schools and how they have evolved in the UK within very different education institutions. This report does not provide definitive answers to these questions. It does however, place the current challenges faced by business schools in context, offers guidance on the strategic options available, and discusses some of the practical implications of the different paths outlined.