The marketplace for business schools today is characterized by relentless change. Increasing competition from nonaccredited schools and globalization of the business education market are among the root causes of the instability. Management education is at risk, and industry- wide leadership is needed to position business schools to respond to emerging priorities and challenges. This report lays the foundation for this long-term initiative. It provides an overview of the major agenda items framing the future of management education and suggests what AACSB and business school leaders can do to meet the challenges head-on. It also suggests how AACSB and its member schools can lead change and continuing innovation.