Were Business School to Blame for the Financial Crisis?
• What should business school do to help prevent similar crisis in the future?
All over the world, global financial crisis is considered as one of the worst economic recessions, which has affected other countries in several parts of the world. Many people claim that business school is nurturing their students with less regard for the social responsibility and sustainability of a business success than there should be.
The argument concerning the academies of the apocalypse has been widely discussed in terms of the effect on financial predicament due to an inadequate preparation of business education. This essay will presents a various points of view about whether business school …show more content…
Also, in terms of recruitment, a survey found that MBA graduates are still ranked highly in job selection especially in finance and consulting. Therefore, this situation can help the economy to flow continuously.
Even though there are different points of view presenting strong arguments to support their sides, there may be no reliable evidence to ensure that business schools should accept some blame due to the current economic deterioration. Partially, it is reasonable for some researchers who found that business schools narrowly focus on technical approaches rather than the larger social and ethical responsibilities. (Caulin, 2008) However, they are endeavouring to develop their curriculum by offering relevant knowledge for sustainable business practices in order to broaden students’ horizons to ensure their success in the real situation. Another significant point to be concern is that they should find the effective ways to encourage their student the essential of social accountability and collaboration, which are the kind of certification required.
In regard to the solution of financial problem, business schools should take responsible to help prevent the incident of recession in the future. Primarily, one recommendation offered by Holland (2009) is to reconcentrate a managerial education so as to integrate with social value. For instance, the study of corporate social responsibility (CSR)