This essay offers an analysis and critique of business involvement in public elementary and secondary education. An opening section suggests that of the initiatives launched in the past, many have been only cosmetic and based more on slogans and fads than on meaningful reform proposals. The essay goes on to suggest a more thorough identification of the nature and direction of the education crisis as a means to better formulate an effective business response. This section argues that the most effective way for business to be involved in education reform is by playing a larger role in the social and political debate about reform. An analysis of the businesses and school partnerships centered on financial assistance and of the effectiveness of various efforts is included. This section concludes that spending money on schools is most often not the best way to achieve real change. A later section argues that the most direct route to improving American education is to radically change the way public schools operate and that schools and the education establishment have effectively resisted change. A final section suggests a business agenda for school reform that would support parental choice, elimination of personnel regulations, and the states' school regulating role. Offers 61 notes. (JB)