MBAs
After the collapse of the financical markets which led to the near disappearing of the real economy the focus will now shift to three letters MBAs. MBAs who dominated the wall street and brought it down, while the country's first MBA president other side. Treasury Secretary with an MBA seems to be clueless of what is happening switching his stance about bailout faster than water drying in hot desert sand. His Asst. Secretary, an MBA sounds more like a double agent for the financial services industry.
With so many examples on is forced is conclude that MBAs have a more negative effect on society than poistive. MBAs have been always regarded as greedy and arrogant. But with so many facts going against the MBAs what is the truth.
With my long association with management education including two masters degrees and observation of careers of people with MBA degrees, I can say there are lot of people who are putting their MBA training to good use in corporations and various other places like school systems. If I can point out many arguements to substantiate my point, what is the problem with the MBA education.
Problem is from day one in the MBA course students are trained to measure results so we have all types of jargons right from profit to Investor value. This "results oriented MBA education" restricts MBA graduate thinking and motivates them to be short term focussed to achieve numbers.
Other side of the ""results oriented MBA education" will be "business oriented MBA education", "business oriented MBA education" seems bit of oddity becaues MBA is about business. The definition of "business oriented business education" will reflect how businesses were born and grew mainly post industrial revolution world. The entreprenuers building business ideas and growing them by bringing new ideas.
The difference between reults and business orinented MBA education can be drawn from medical education. The current medical education system is something similar to"business oriented MBA education" where people given training in basics and indepth medical knowledge. Imagine what will happen if the medical education is filled with jargons like medical reimbursement rate, profit per procedure.
The end result will be have adverse effect on medical care.
The need of the hour regarding MBA education is making business growth oriented instead of result oriented
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