Typically, business schools teach management as a science and, through case-method paper exercises, train their students to fit into large corporations. Southern Methodist University in Dallas, however, wants to turn out not organization men but wheeler-dealers in the Texas style of Computer Centimillionaire H. Ross Perot and Financier John D. Murchison, both S.M.U. trustees. So the students are learning primarily by becoming small-scale entrepreneurs while they are still undergraduates.
S.M.U. trustees broke with tradition two years ago after determining that their 625-student business school was mediocre. To shake things up, they...
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