Time to shut down business schools, writes Cambridge Prof. Chris Marquis in NYT; Zoho's Sridhar Vembu agrees entirely
Zoho founder Sridhar Vembu has backed a call to shut down business schools, agreeing with an argument made by University of Cambridge Judge Business School professor Chris Marquis in an opinion article published in The New York Times (NYT).
Sharing the article on X, Vembu said he agreed entirely with Marquis, adding that he had been making the argument for two decades.
He posted, "I Teach at a Business School, It's Time to Shut Them Down" says Prof Chris Marquis from the University of Cambridge Judge Business School."
“I agree entirely and have been saying this for 2 decades. India would do well to close down business schools and focus on startup incubators. We need large-scale startup formation and a lot of experimentation,” he goes on to add.
In his article, titled I Teach at a Business School. It's Time to Shut Them Down, Marquis argues that business schools have increasingly moved away from their stated purpose of developing responsible leaders, instead encouraging students to prioritise lucrative careers in consulting and finance.
Drawing on more than 20 years of teaching experience at institutions including Harvard, Cornell and Cambridge, he wrote that he has repeatedly seen students enter business schools with ambitions to solve social and economic problems, only to become preoccupied with securing high-paying jobs.
He suggests shifting the focus of business education from maximising shareholder value to understanding how organisations distribute power, risk and rewards.
In the post, Vembu also shares a snippet from the article that says:
This fall, another cohort of ambitious young professionals has arrived at business schools around the world for two-year programs with price tags in the six figures. Their presence at some of the nicest and shiniest buildings on campus renews a familiar question: What exactly is an M.B.A. for?
This question has become more urgent as business education has expanded dramatically in the past decades. Today, nearly one in five American undergraduates majors in business, and the M.B.A. is the most popular graduate degree in the United States.
I have taught in business schools for over 20 years, at Harvard, Cornell and Cambridge. While some students appear to care only about their future compensation, I have met many with nobler goals: engineers who want to commercialise clean energy, physicians determined to fix the health care system, nonprofit leaders who have watched good missions fail for want of good management.
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