Currently there is much debate about the gap between business schools and the business world (gosling and mintzberg, 2004; bennis and o'toole, 2005). One argument is that business schools focus too much on ‘scientific’ research and lack relevant business context and real-world experience. The proposition in this paper is that the dynamics in the business environment force businesses and business schools to revitalize together through learning by sharing. The authors advocate that researchers, teachers, students (business schools) and practitioners (business) should engage in a mutual learning process. Close cooperation, shared understanding and shared learning can foster adaptation to the dynamics of the business environment and encourage both business schools and business corporations to build new academic theory and new business logic. The ‘learning by sharing’ model (thijssen et al, 2002) can be applied to both the academic world and the business world in concert. This paper conceptualizes how business corporations and business schools can learn from each other and develop closer links.