Critical management education typically assumes that management courses that emphasize critical reflection—that is, courses that critique problematic systems and structures, and ask students to dialogue about and actively reflect upon these critiques—will foster student transformation. In contrast, critical theory typically suggests that transformation requires praxis, that is, critical reflection plus practical action where students enact their new knowledge in their everyday lives. We empirically test these assumptions by measuring student transformation in management classes that emphasize critical reflection and in other (...) classes that emphasize praxis. We find no significant differences in three measures of student transformation in classes where only critical reflection is emphasized, but significant differences in all three measures when praxis is emphasized. In a content analysis of student praxis assignments, we find further evidence of the link between praxis and student transformation. Specifically, the majority of students value praxis, describe changes in their self-understanding/consciousness thanks to assignments that emphasize praxis, and plan to continue new behaviors that address concerns raised by critiques of problematic systems and structures. Finally, we find that the greater a student’s self-described effect of praxis, the greater that student’s transformation. Taken together, the results suggest that the practical application dimension of praxis is a key “missing ingredient” in the teaching of business ethics as students move from critically reflecting on ethical issues, to actually becoming transformed by their knowledge. (shrink)