Harvard Business School at 100: Whither the MBA?

"What to teach" is certainly an interesting question. If the curriculum covers the administration of most or all businesses, then the outcome will be knowledge that most people have anyway. On the other hand, if it's specialised, then most of the knowledge will never be used. Maybe the most important benefit is to avoid having gaping gaps in one's knowledge of the subject - but there are cheaper ways to achieve this than by getting an MBA. Maybe an MBA is valuable as long as people all think it's valuable - like the Emperor's New Clothes of Hans Christian Andersen's story?

The only person I know who is doing an MBA is a man who has already become rich with a successful business (which he sold his stake in). This makes sense to me: business administration itself would be boring for most people (though managing a company is very enjoyable - especially if one has full control over the major decisions) - whereas studying and debating carefully contrived cases with bright people sounds like great fun!

Most students come to business school for a handful of reasons, (roughly in order of priority):1) To break into new industries or functional specialities2) To punch their ticket in order to get a promotion3) To make connections4) To re-brand their resumes with a better educational institution5) To actually learn something6) For a company sponsored "vacation" (esp. consultants & bankers)7) To ride out a lousy job marketIn almost all cases, the student anticipates compensation increases to make the investment worthwhile. A general curriculum addresses all but the first item, and elective courses can enable learning a new field. MBA students come with a wide range of expertise and the first year core curriculum is a way to ensure everyone has a grounding in the basics. Also, many of the students that become investment bankers and consultants upon graduation eventually enter and lead operating companies. Those in private equity and VC shops still need to be able to think like managers. While the Master of Finance may be a better course of study for the functional specialist, the MBA will retain its appeal as a generalist degree.- HBS MBA 2004

In the early 1980s, Fortune published a story on Harvard Business School, specifically, its spring frolic for MBAs, a tournament in which four or so teams competed with one another to solve a problem. The winner, as reported in Fortune, it was later found, had cheated.

The other teams complained, sought to have the cheating team disqualified. Not so fast, said the faculty. According to Fortune, the Harvard Business School rationale: the other teams had the same option and could have cheated, too. I am sure this must have left an indelible impression on the students attending the School at the time; the article certainly left an impression on me.

Later, attending a different school, I read another article, this one published in a management periodical, written by a member of the Harvard Business School faculty, citing research to support his point: that people will tolerate just about any fault in a leader save for dishonesty.

My faith temporarily restored, I rejoiced until other notable graduates made subsequent hash of business and politics, costing investors and taxpayers billions as they covered their public front and backsides. The Economist in its article remembered to include alumnus Jeffrey Skilling, Enron investors’ best boy, responsible for a company collapse that led to an industry meltdown. Another reader already has mentioned my all time favorite alumnus, George W. Bush (granted, Harvard Business School shares him with Yale). Whom did the School reject? Warren Buffet seems to have done well enough after Harvard Business School told him, based on Mr. Buffet’s published statements, ‘No, try elsewhere.’

Given Harvard Business School’s influence and its success promoting the case history method, we can all be glad for any new or renewed emphasis on ethics and leadership and what it might portend, perhaps beginning with whom it admits and who stays? One can teach ethics, but one can’t teach integrity: students come with, or without.

So, bravo, Harvard Business School! One question for your second 100 years -- presuming the planet survives any looming disasters be they natural or man-made -- When one is powerful enough to make the rules, who and what guides the rule maker?

George W. Bush received an MBA from Harvard. 'Nuff said.Thanks for nothing, HBS.

Whopee! Wharton was established 26 years earlier.

Seriously... Wharton (1881), HBS (1908). Hmmm. Something fishy here, methinks.

Well I guess we can't ALL get into Penn's Wharton school...Happy 100th, HBS.

It's a pleasure to know that Harvard has scored a century and maintained and retained its reputation of one of the best and elite B-Schools of the world.It would be wrong act on the part of Harvard if it didn't choose to open their second base in the most happening continent of the world, a continent where most of the economic growth is happening and where the future economic advanced countries will be situated ie, Asia.We would really like to see Harvard opening up their base in Singapore which is the financial hub and where other elite B-Schools also have base. We would also like Harvard entering into tie-up with many universities especially in Africa and Asia so that meritorious students from these countries are not deprived of the quality business education just because of the cost.Happy 100th anniversary, Dear Harvard!!!

It is only apt that the citadel of management education is searching its soul to come up with an goal for the next century. With corporations frequently failing the trust of the people, it is time to think up of concepts which differentiate growth from greed and instill character in the future leaders of corporations.

The article has stressed on leadership. Yet, none of MBA programs worldwide, focus on building the character of an individual. Harvard grooms smart managers yet never teaches them that their discretionary "ethical" decisions could often run counter to their "smartness" and that they would still need to stick to their stand.

It is indeed sad that people come to a "center of excellence" in management seeking nothing more than mere materialistc gain. It is however, pointless to blame the candidate.
A student puts a huge amount of money and time to get an MBA and after graduating the person is employed in short - termist corporations in which profit(and rewards) are defined only in terms of monetary gains. This is a systemic failure and Harvard should think on making new social structures( a corporation is also one) and building "good" leadership qualities on its pupils. It could indeed take a few
lessons from major religions which primarily focus on fair conduct and inculcate them in its programs.

An MBA has also become an elitist whereas today, every person should have such knowledge. The knowledge gained in an MBA program enhances an individuals understanding of how societies
today are being affected by corporations.Harvard could work on taking such knowledge to the masses and also teach the masses personal finance so that people in general are economically
empowered and are not "herded" into taking decisions.

The saddest thing to see is a old corporations fail in their relentles persuit of short term growth.It is one thing to respond to change and quite another to blindly persuing growth.
An example in today's context is the subprime crisis. I would refuse to beileve that many senior people in the banks could not have seen this happening a couple of years ago.

A corporation has become an animal ever increasing in size and one that is required to run continously faster. And it is is pulled through its nose by the stock markets and other financial such instituitions.It is high time that we begin to value not only growith but also stability of corporations.

Teachers are not normal people. They can, with their thoughts, shape the generations of the future. Harvard, therefore has indeed got its task cut out for the next century. All the best.

When I attended Harvard Business School in the fifties one our most sought after second year courses was George Doriot's "Manufacturing", designed to acquaint students with the real world of running a company. In those days US Manufacturing was the predominant business model around which much our education was designed and Doriot did a great job of teaching us the facts of management life. If "General" Doriot were still teaching he'd certainly no longer call it "Manufacturing"but something like "Competitive Global Management of Products and Services ", since so much of 1950's US style manufacturing has become anacronistic and graduates go into some form of finance or consulting. One of HBS's major challenges is to keep it curriculum ahead of the curve in these changes. As a grateful alum I think they've done quite well to date.John G. Eresian MBA 56

Please accept my hearty congrats on your centinary. An institution which survived and excelled during the thick and thin of time,functioned contemporary, deserved to be hailed for its continuous ciontribution in the field of management education- the only and only Harward Biz School.Your Alumni I know represent the who is who of the global economy.

From the Indian perspective it is worth noting that Harvard University helped to establish the Indian Institute of Management, Ahmedabad which is now among the best business schools in Asia.