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Many have pointed that the MBAs are responsible for the financial mess today we all are in . And our so-called guardians of hope have already started fixing their B-Schools. The latest scoop is taking an oath!
Harvard recently had a series of articles to work out how you can fix the problem.
In the intro it wrote – “Many critics have charged that the values imparted in MBA programs contributed significantly to the ethical and strategic lapses that led to the current economic crisis. Is that fair? And if so…”
(The weird thing is assuming as if it’s true and accepting the responsibility for this mess). And now to start of with people have come up with “The MBA Oath”. The economist too covered its views in the current issue.
How I understand it.
- I believe we have saturated the importance of an MBA. Any senior position today requires an MBA tag to your name.
- For some - MBA becomes the final degree with which you will complete your education (as if the new synonym of being illiterate would be someone who is not an MBA).
- These courses are now getting innovated. Tailor made just for you. The time, mode and specialization in MBA changes across colleges and universities. All this simply to grab as much eyeballs as possible.
- MBA has been commoditized with anyone and every one giving MBA with different flavors.
- Professions like CFA, cant be achieved without any particular level of hard work and proving yourself (mostly because they are centrally governed), but since there is no single governing body - you can get a university to provide you an MBA for your intelligence level (whatever your intelligence level be, we have a university today
).
You can’t do an open heart surgery without being a professional doctor of this field. So in case if I require an open heart surgery for my company, whom should I look forward to? Roll the drums. Here’s an MBA for you! Now all the “human operations” have a generic high level procedures to abide, but can we put the same to a MBA with a market where he needs to innovate, and disrupt to make a mark. I doubt if a doctor will be awarded to create disruption while operating his patients or conduct every operation in a new way since the old one has already been used .
At the end of the day, if the sole aim is to increase share holder value, an MBA may aid it. But the vice versa may not always be true. You don’t compulsorily require an MBA to add share holder value, do you?
MBA, as far as I know is a study. A pedagogy to understand business. It helps you understand the System. After understanding the System there are exactly 2 things that can be done. Either improve it, or materialize the knowledge for self interest and greed. As Bob Proctor said in The Secret (talking about pros and cons of electricity) – That you can cook a man’s dinner or you can also cook the man. The choice is yours.
So finally will an Oath do the difference? Well obviously not, but an Oath is at least a start for a better tomorrow. How can we keep our words again depends on our genuineness.
“There are fewer MBA candidates out there than there were five years ago because companies are hiring more.” - Tim Wagner
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The best information i have found exactly here. Keep going Thank you
Thanks for the kind words Jane. You can subscribe too via mail.
In my opinion, MBAs shud not be considered responsible for recession, because recession is not a new thing for us..it was there in 1930 also and in those days there were only a few MBAs and for sure they can’t be considered responsible for tht crisis….
Yes Vikas I too believe in 1930s this kind of a question never turned up…
Absolutely. I think MBA’s were the people who (along with the financial wizards) were responsible. Think of how simple life would become for an MBA graduate if what they believe in (More money = More happiness) would be True!!
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