The argument put forth by these authors in the WSJ article is that b-schools must forego research in order to pursue practice-based learning, especially in MBA programs. B-schools should strive to connect with corporate partners rather than focusing curricula on the research of the tenure-track faculty.
Is this really what we want?
Yes, AACSB is increasingly pushing evidence-based and practice-based learning into the curriculum, but why does that have to come at the expense of high quality research? To me the benefits of research are strengthened when students are exposed to more real-world problems. Then students not only have the context of real-world issues, but have the most current theory on which to understand such organizational phenomenon.
Do faculty have to be researchers to teach theory? Probably not in every case. But researchers have a different frame of mind when they come into a classroom - they are seeking to understand a wide range of organizational problems with a set of knowledge, not just the problem at hand.
Perhaps the solution is not a trade-off but rather a partnership. Bringing in corporate fellows / partners to work alongside the tenure-track faculty, so that students get a broader perspective than they would with only side of the equation.