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After a period of exploding growth, business schools are now experiencing a slowdown in the pace of enrollment. This may be the "pause that refreshes" for many schools that have been coping with crowded classes, insufficient equipment and reliance on part-time faculty. It is generally accepted that any school is only as strong as its faculty, and this key requirement is the subject of this article. In recent years, in attempts to remedy an alleged shortage of faculty, we have experienced the phenomenon of "retooling," a process whereby faculty are recruited from the liberal arts and sciences, or education, and given accelerated courses so that they can function in business schools. It is a development which appears to have the blessing of administrators and is actively promoted by some spokespersons of the accrediting body, the American Assembly of Collegiate Schools of Business (AACSB). It seems strange that the body charged with the job of setting and maintaining standards should appear to be weakening them. But the AACSB apparently wants more doctorates (Ph.D.s) in business schools and retooling is a short-run method of getting them. The authors con tend that the real issue is the shortage of resources available for business schools and that retooling is a way to avoid tackling the real problem.

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