Financial and economic crisis are apparently sweeping aside many established ideas of how societies should run their economies and one measure is how to stop Business schools churn out jargon-spewing economic vandals, who later proudly gather wealth with smart corruption / white wash – success have many colors and #ChorBhakts will be caught only if political commissions dry out for various reasons. In comparison, even our Vedic Chandal was far better than such mixed-breed modern Vandal.
Barring few random changes, it will be again business schooling as usual after some crocodile tears. The real question is not whether business schools need to change, but how. Management education needs to start again from scratch and just not focus on teaching greedy cronies how to satisfy their devil appetites by fooling, sucking & looting as many living beings possible within currently acceptable societal rules or alternative value systems.
Obviously those strictly following management vandalism tend to outperform their peers in all the measures like productivity, development and return on corporate capital. Many companies in the developing world are desperate to hire more MBAs & Other Gurus in order to improve their approach to jugaad management and crooked branding.
The real argument is: Why should business schools NOT put more emphasis on business ethics and real corporate social responsibility? Business leaders and educators need to learn that economic history is punctuated with crises and disasters, that booms inevitably give way to busts, and that the business cycle, having survived many predictions of extinction, continues to prey on the modern economy. The 2008 credit crunch might have come as less of a surprise if all those MBAs had been taught that there have been at least 124 banking crises around the world since 1970, most of which were preceded by booms in house prices and stock markets, large capital inflows and rising public debt + private millionaires.
For both short-term crisis management and long-term decisions, it is imperative that policy-makers, bankers, teachers, investors and students understand clearly what went wrong with the world economy. B-Schools should encourage people who are willing to bite the hands that feed them, to prick business bubbles, revolt against cronies, expose management fads and generally rough up the most feted managers and leaders.
The photo-shopped ads and photos are some of the false faces behind which blind bhakts wants to hide – beautiful development packaging. It is crony capitalism which makes 1% of population so rich that they control lives of majority. May god liberate us from the greedy assholes!
Think You Might Get Fired? Start a competing firm to snatch bucks from those who’re firing you. Simple zero-sum or if you have looted resources pay the expensive consulting therapist for managing it anyhow.. we call this #jugaad in India!