MBA STUDENTS WITH PURPOSE A Recent NY Times Article Is A Step in the Right Direction
Here is an interesting quote from the very popular NY Times article - full article here
"For all of the emphasis on analytical rigor in business schools today, another major recommendation of the foundations’ reports from the 1950s — that business become a true profession, with a code of conduct and an ideology about its role in society — got far less traction, said Rakesh Khurana, a professor at Harvard Business School and author of “From Higher Aims to Hired Hands,” a historical analysis of business education.
Business schools, he said, never really taught their students that, like doctors and lawyers, they were part of a profession. And in the 1970s, he said, the idea took hold that a company’s stock price was the primary barometer of success, which changed the schools’ concept of proper management techniques."
The reason this article got me thinking is intertwined with a recent conversation I had with a fellow Darden Blogger - Bill Gray. We were arguing back and forth (in the pleasant sort of way that Academia is supposed to operate) about the strategy of MBA programs.
At one point in history MBA programs were concerned with the "big ideas" in life. Evidence of this can be found everywhere on the Darden campus. Quotes from Jefferson, Colgate Darden, and others emphasize the practical nature of this program, with the importance of having unimpeachable character and values, simultaneously. In other words, when Darden was founded Business School leaders were concerned with leadership. I think Darden is still concerned with leadership but, perhaps, this current crisis might still be a good moment to stand back and evaluate whether or not we have come too far towards "increasing average salary" and away from "increasing potential for making positive change".
Far too often I find myself thinking that the goal of B-School is to make me more money. Obviously this should be the case but we can't let this be our purpose, our end goal, without risking becoming another Ken Lay or Jeff Skilling. People that primarily seek money will probably find it (especially with a top-tier MBA) but B-Schools should fight this mindset through their curriculum.
In answer to the NY Times headline question, "Is it time to retrain Business Schools", I think the answer is yes. As an educational "industry" yes. Darden, luckily, is already well advanced in this area with the Olson Center for Applied Ethics and strong Ethics focus throughout our program. However, if this isn't a time for soul-searching (for everyone) I don't know what is.
Areas where we still need to improve:
1. Explain the purpose of an MBA (don't just describe what it is - say what it is for)
2. Spend more time developing tools for determining what good and bad decisions are really all about.
3. Develop a set of common Business values - so that we can all rally around something to get us out of the mess we're in.
4. Find out how to avoid give evil people MBA's. Obviously this is tricky, but somebody has to own up to the fact that giving evil people an MBA certification -that they have "mastered" the profession of business- is a disgrace to the entire profession.
That's all I've got today, but I wanted to respond quickly to this article before tomorrow. Very soon I will be back with pictures from my Darden trip to the Czech Republic. Posted March 17, 2009 as per usual Posted by: mandy ...very well put! i love how you gave next steps to us, too.
so honored to be your classmate, especially because i know you'll ponder this long after graduation. Posted 2009-03-20 17:01:21 COMMENT ON THIS POST
