CAROL’S SUMMARY: With the current financial downfall, some blame the way business schools are taught. Schools like the University of Phoenix have become a popular alternative in the last decade because their classes are taught by business professionals, not professors studying business. Certainly, if traditional business schools emphasized more leadership, initiative and project-based learning more students would be “doing” business than studying about how to do business. Some of the case-based and project-based learning should involve consequences of poor actions as the ones we are living out right now in this depressed economy. If students could have a sense of the fallout of their actions, they would likely behave differently.
Questions to consider:
1. Do you agree?
2. What fundamental aspects are business schools neglecting?
3. How can business schools team up with more people from the world of business?
4. What experiences do business students—or any student who wants to enter business—need to be a responsible, measured leader?
By KELLEY HOLLAND
Published: March 14, 2009
JOHN Thain has one. So do Richard Fuld, Stanley O’Neal and Vikram Pandit. For that matter, so does John Paulson, the hedge fund kingpin.
Yes, all five have fat bank accounts, even now, and all have made their share of headlines. But these current and former giants of finance also are all card-carrying M.B.A.’s.
The master’s of business administration, a gateway credential throughout corporate America, is especially coveted on Wall Street; in recent years, top business schools have routinely sent more than 40 percent of their graduates into the world of finance.
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