- Simon Peacock
- United Kingdom
Business Education is Broken
THE MBA: BROKEN IN 6 PLACES.
1. Lack of Relevance to Practice of Management
2. Overly Analytical; leading to a fixation on management accounts and short-termism.
3. Distracted by deeply flawed rankings criteria.
4. Lack of embedded ethics combined with championing of Self Interest
5. Disconnected pedagogy
6. Commercialisation of Business Education
I recently carried out research into the current state of western business education. The paramount learning outcomes from the research lie in the discovery that the despite the presence of the six criticisms identified above there is good reason to be positive as these flaws are interconnected and therefore can be considered to be surmountable through the application of a common remedy. (available on request) On the issue of the interrelationship between the criticisms the only possible exception to this hypothesis is the point regarding the commercialisation of business schools as this is not strictly a pedagogical issue. The commercialisation is however symptomatic of a business culture which has placed the pursuit of profits as the supreme objective of practice. Business schools cannot be held solely responsible for either the high profile corporate scandals which beset the beginning of the century nor the continuing global financial crisis as behavioural studies carried out by researchers have produced inconsistent results including those which found behavioural traits relating to ethical and moral values to be inherent in individuals long before they reach the age of entry into management education. This is combined with the evidence of immoral and unethical behavior in multiple facets of professional life many completely unrelated to corporate management. These scandals are the result of macroeconomic and sociological phenomena connected to contemporary facets of western culture. Suffice to say the research leads to the conclusion that business schools can justifiably be guilty of precipitating this par
Closing Statement from Simon Peacock
Let's get away from the paradigm that business is about profits and nothing else. In the UK TV shows like The Apprentice and Dragons Den merely perpetuate this view. Every news item ends with a round up of share prices as so how is the next generation of business students supposed to see the big picture. Let's bang entrepreneurial drum but loudest of all for those who serve the greater good. Profits are hugely important but no more so when they are used to reward all stakeholders who are in it for the long haul not just the short term bounty hunters.
More cooperatives in the 21st Century please. You guys Rock.