The thoughts in the latest column (Schumpeter) of this week's Economist magazine set my heart racing. The author tore apart the assumptions and vested interests that are in-built into the business school industry world-wide. As the leader of a chain of five business schools (as on date), it's important for me to analyse this. I advise all b-school leaders to read this one for sure.
The key charges against the industry are -
(with stalwarts like the Harvard Business School named specifically)
(with stalwarts like the Harvard Business School named specifically)
The B-school industry is self-serving to the extent of being technically wrong at times
- The Professors can pull wool over your eyes as long as their interests (read 'consulting assignments') are being served
- The products carry a one-sided view of the world - only the booms, not the busts
- In a new world order post the global-crash, serious reworking is needed
Based on my professional experience, my ratings for these four allegations
- One hundred percent correct
- Almost fifty percent correct
- Almost eighty percent correct
- One hundred percent correct
- Create leaders (students) that are down-to-earth
- Focus rigorously on global vision development
- Develop compassion, honest values, respect for simplicity
- Take a long term view, and develop it in the students as well
All this has required (of us) a lot of resources, commitment and patience! I surely pray that we are able to deliver this year in and year out, irrespective of what shape the economy takes in the short term.
The golden rule that "Class is permanent" is our driving force. Sacrifice playing-to-the-gallery. Sacrifice short-termism. Sacrifice sick razzmatazz.
In an industry now populated with marauders/ land-mafia/ politicians/ scamsters posing as 'management gurus', we hope that our honest educationsts-led approach gets noticed and rewarded.
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