Euro Dean Says US Schools take babes, shovel them to finance, all to crank up rankings. Result, global meltdown
Hmmmm Euro dean blames US B schools for crisis: how come? They took younger and younger kids, impressionable and easily molded (yup!) and funneled them into finance, where they could earn big $$$, and INCREASE SCHOOL RANKINGS (which are partially based on salary of graduating kids). Say it aint true, Your Majesty!!!!!!!!!!!!!!!!!!!!!!!!!! BTW, average age at Cranfield, story says, is 33. Dunno man, that is EMBA turf in USA.
Are business schools to blame for the credit crisis?
By Chris Green
Séan Rickard, director of the full-time MBA programme at Cranfield School of Management, was one of the first to admit that business schools should admit to a degree of culpability . . .He argues that many institutions, especially those in the US, have lost sight of what MBAs were created for: teaching advanced business techniques to mature individuals with plenty of experience. Instead, many now focus on channelling increasingly young students into high-earning careers in finance, a practice that has come at a price.
“There’s no doubt at all that, in much the same way as the financial sector lost its sense of judgement and proportion, many business schools didn’t ask, ‘Is this really what an MBA is meant to be about?’,” he says. “By taking people who are relatively inexperienced and encouraging them to study so they can move into the financial sector, we are overlooking some of the more subtle learning that was supposed to be associated with an MBA, such as ethics and how to build the value of a business over the long term.”
So what drove business schools to adopt this approach? According to Rickard, the reason that many institutions unquestioningly swallowed the culture of risk-it-all capitalism created by the financial sector was because they knew it would boost their positions in global rankings.
