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Do We Need The MBAs? Rethinking Business Education.

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Presentation on theme: "Do We Need The MBAs? Rethinking Business Education."— Presentation transcript:

1 Do We Need The MBAs? Rethinking Business Education

2 2 How do you teach obsession? Because often it is obsession that drives an entrepreneur's vision. How do you learn to be an outsider if you are not one already? - Dame Anita Roddick, founder of Body Shop

3 3 MBAs Cheat. 56% of all MBA students cheat at Exams. Source: study by the Academy of Management Learning and Education of 5,300 students in the U.S. and Canada

4 4 What’s wrong with MBAs? Business Education is not about Business. It is about Money. Source: 008/11/amoral-mba- students.html

5 5 Can you name any successful, path-breaking, innovative company started by an MBA?

6 6 6MBA Salaries Are Insane

7 7 What do MBAs Actually Do? MBAs ran Enron (2001) and these superstars of the subprime crisis 2008-9

8 8 MBAs Often Make Bad Bosses. Their education does not always make them nice people. Pictured alongside is Alec Baldwin in “Glengerry Glen Ross”

9 9 Create Boring Companies

10 10 Where People Don’t Love Working Pictured alongside is a scene from Mike Judge’s “Office Space”

11 11 MBA Teaching Is Overrated A. Fanciful, fictional case studies B. High on theory, low on practical. C. Formulae for everything. D. Students learn not to talk or write like humans do. D. Professors who have rarely worked as an entrepreneur or senior manager. F. Schools create a mystique of excellence by Choosing only the high scorers. G. Group work is over-hyped - B-Schools reduce every problem to meetings and group discussion. Source:

12 12 MBAs themselves are over-rated. Add $500,000 for every engineer in the company. Subtract $ 250,000 for every (overpaid) MBA onboard. - Guy Kawasaki’s formula for valuing new companies

13 13 Some of the best successes on the internet are single or two person stories.

14 14 MBA degrees don’t guarantee a job. Three main issues facing the workforce: A. Self- Employment B. Re-killing C. Staying ahead of the competition. Source: Wall Street Journal

15 15 Let us reform our schools and we shall find little reform needed in our prisons. - John Ruskin

16 16 Education is very expensive.

17 17 Let’s Start With Using Common Sense

18 18 And A Will To Teach Ourselves

19 19 B-Schools Do Not Teach Everything

20 20 Books Do

21 21 We Can learn Business in 1 Day

22 22 Or, in 10 Days

23 23 How about 30 Days?

24 24 Or, Read The Best Business Books AKA The Personal MBA Manifesto

25 25 Read The Success Manual Encyclopedia of Advice - 130 Topics - Summaries of 100+ Greatest Business Books - Advice from Great Experts, Gurus, Writers - 3000+ Quotes $14.95 only Copyright © 2010 Pramit Singh

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