Friday, February 14, 2014

Business Schools Drive Conformity of Thought

Even though I have undergraduate and postgraduate degrees in business I find that business schools are becoming centres of conformity. Business is widespread and diverse and there is no one, right way of educating business students. Of course the best business education is hands on and involves starting or buying your own business.

As a friend of mine said recently, "business schools are now more about business (their own) than school". The early MBA programs worked because they were different and gave a general business grounding to their students. Now days the focus is heavy analysis and number crunching and very big corporate business. Big business represents a very small slice of American business life. Many very successful people have made large amounts of profit from small and medium sized "non sexy" businesses that provide essential services such as garbage disposal, recycling and truck spare parts and wrecking to name but a few.

If I was having my time again, I would have invested the money spent on getting my Masters in Business into a business venture of my own. Instead I spent many years in consulting that was well paid but where 2/3 of the day rate went to the consulting company.

So think seriously before spending what has become an increasingly large amount of money on your MBA. You are likely to get a much better ROI from investing in your own business where you keep the profits.


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