The myth of management education exposed in these economic times

This week I read two articles in Newsweek. While both are related in some way, one rejected outright the need for management education; the other was more subtle in stating that we are better off without it. I was so fired up after reading them, I had to stop everything else to write and finish this post in one shot.

Soon after my under graduation in engineering, I applied for admission to many institutions (prestigious or otherwise) offering education in Management and Business Administration. In those days I was starry-eyed like everyone else and was looking towards cash bonuses, expense accounts, stock options, corner office, a pretty secretary and a care free life. That is apart from a fat pay check with company-paid housing. Since I was devoted to cricket, playing golf on weekends wasn’t on my schedule. All that was required that separated me from those privileges was just three letters M, B, A. after my name.

Alas, all my hopes were dashed when I received rejection letters. Almost every day, starting from the top rung institution, to the institution on the very last rung (to which no one in their right mind would even apply let alone spend two years of their precious life) sent me letters of condolence. They wished me luck in all my ‘other’ endeavors. My inner voice told to me, “Wait a minute, there must be a mistake. I was bad, but wasn’t that bad. I was numerate, presentable, can articulate well and I had a degree. What more do they want?”

After much grief, a lot of money spent in application fees, time spent in preparation for exams, group discussions and interview, I realized (much like a samurai warrior) that a degree in management was not in my destiny. I could not perform hara-kiri; for I was married by then with first my child on the way. So instead I settled for a quiet (?) life in engineering: design, project planning and execution.

Standing on the noisy factory floor, once in a while I used to look up with coveted eyes the quiet, well-lit air-conditioned offices on the top floor. What did those guys do to deserve such luxury? What do they contribute vs. my tangible contribution to the bottom line? I was half convinced that they must be just pushing papers upstairs.

From that time on whenever I saw someone questioning the relevance of management education I silently rejoiced. I felt vindicated when FedEx brought out that advertisement about how simple their shipping system was that even a ‘dumb’ MBA with some training can do it.

When Lynda Resnik (she doesn’t have an MBA) attributed her success to on-the-job business experience, I felt Corporate America is now starting to think my way. And when Matthew Stewart (he doesn’t have an MBA either) came out openly to say that ‘The emperor has no clothes’ I felt like I had my revenge.

However, after all said and done, there is a lingering doubt in my mind that MBAs do contribute. Don’t they bring the concrete from the abstract?

I mean, where would NIKE or Adidas be without MBAs?

In our ‘Image is everything, thirst is nothing’ culture we definitely need MBAs to position the products in the consumers’ mind creatively, create a market and hence the business.

I think even Lynda (sipping her pomegranate juice or Fiji mineral-rich spring water) will agree on that.