Risky Business
Business Schools Headed for a Bust?
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  • Boritz

    Another factor: The erosion of the relevance of traditional business knowledge as a success factor. For example, once upon a time fundamental analysis was of great importance in valuing a company and its stock. Today you’re better off looking at that organization’s regulatory burden, their lobbyist track record, and the attitude of the administration and congress towards it. Keystone’s fundamentals are great, but it isn’t going anywhere. If you want to understand why the answer doesn’t lie in the kind of data MBAs traditionally deal in.

  • Anthony

    Feed’s title brings to mind relevance of model; toward what end is MBA acquisition designed? Given structural as well as global factors now enveloping market economics (capitalism) must purpose and purview of MBA be revisited.

  • Greg Olsen

    I suspect that the decline in GMAT applicants has more to do with the poor employment prospects and declining bonus pools on Wall Street. First it was would-be management consultants, then would-be investment bankers, now… The standard business school curriculum (as defined by the AACSB) has value, especially the accounting, finance, entrepreneurship, and organizational development courses. The biggest problem with business schools are that not all of them are even really MBAs (i.e., having regional and not AACSB accreditation). Many of these regionally accredited MBAs at liberal arts colleges are not worth the paper they are printed on. Work experience should not be a requirement for all fields in MBA programs. Since the quantitative courses are just applied mathematics and linear programming, calculus and statistics are what they are, a mathematician can teach them without prior work experience. Where the PhDs with no work experience fail are in marketing, manufacturing and logistics, organizational development and entrepreneurship. Those fields are arts not sciences.

  • GodisanAmerican

    Business majors, especially marketing and management majors, are totally party majors. Many of them end up there by rejection not selection. They can’t write so social science or humanities major are out, cross out STEM majors because they can’t do math, and education, well that doesn’t pay well.

    All you have to participate in some group projects, listen to some lighter than air material such as strategy or leadership (lol), and hang around campus for 4 years and next thing you know is that you have a college degree in marketing.
    Don’t believe me. Ask one of these ‘business’ majors, what is a revenue? You will get all kind of random answers.

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