Top B-schools, including Harvard Business School, Northwestern's Kellogg School of Management, and Yale School of Management, recently welcomed new deans—all of whom face a daunting trifecta of challenges. On their plates: restore the reputation of the MBA, sullied by years of self-dealing, white collar perp walks, and plain old mis-management; shore up dramatically weakened endowments; and cultivate a curriculum that genuinely serves the next generation of business leaders—and puts them in a position to create and run organizations that are truly fit for the future.