Critics of the MBA and traditional business education in general often invoke the ‘unholy alliance’ between business schools and the more prominent rankings. They say too much emphasis is given to graduates’ expected salary increases when there are more important measures of a successful education. Do you think this is a fair assessment, and what is your view?
The world has changed in many profound ways. Developments over the last two or three decades have been in many cases quite remarkable – notably the tremendous reduction in global poverty, especially in East Asia – and offer hitherto undreamt of opportunities. But all is far from well.
There is a truly excellent book on India by Harsh Mander with the title, “Looking Away: Inequality, Prejudice and Indifference in New India”. A book could be written with the same title except not just about India, but about the world. Mander’s basic thesis is that the Indian elites are too busy pursuing their own private material interests and comforts to notice, let alone address, the plight of those at the bottom. This is unsustainable. It is exacerbated by many practices, MBA rankings being among the more prominent.
Apparently Winston Churchill never said (though he should have!), “you make a living from what you earn; you make a life from what you give”. MBA rankings prize earning (living) and ignoring giving (life). Fortunately, a good number of estimable MBAs rise above this and both earn and give.
What are some of the unsung indicators of the effectiveness of an MBA or executive education programme? Indicators that prospective students or companies should look out for and that should be included (or assert more weight) in the annual rankings.
The late distinguished, tantalisingly provocative and erudite scholar Isaiah Berlin wrote an essay on Tolstoy’s view of history, which he entitled “The Hedgehog and the Fox” . The hedgehog digs, digs, digs in the same spot, and therefore knows a lot about one small universe. The fox runs and runs and runs over lots of territory, staying on the surface, hence he knows a little about lots of universes. The ideal person in this world is something of a hybrid between a hedgehog and a fox. Know a little about a lot, at least to awaken a sense of awareness, and know a lot about a specific dimension (whether technology, a particular region, whatever).
