The aftermath of a historic financial crisis seems an appropriate time to take stock of graduate business education. What are we teaching these people before they head off to the executive suite?
Three Harvard Business School scholars, Srikant M. Datar, David A. Garvin and Patrick G. Cullen, address this question in "Rethinking the M.B.A.: Business Education at a Crossroads," a thought-provoking examination of the curriculums that shape many top investment bankers, consultants and chief executives. After studying the nation's most prestigious business schools, the authors conclude that an excessive emphasis on quantitative and theoretical analysis has contributed to the making of too many wonky wizards. M.B.A. recipients, according to this book, haven't learned the importance of social responsibility, common-sense skepticism and respect for the dangers of taking risks with other people's money.
Put even more bluntly: Business schools played a contributing role in creating the geniuses who brought us the economic meltdown of 2008.
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