March 24, 2011

Call to Action: Business Schools

Dr. Jeffrey Gandz

Dr. Jeffrey Gandz Professor, Managing Director Program Design - Executive Development Ivey Business School March 24, 2011 South China Morning Post Ivey's recommendations on what business schools should do post-financial crisis.

In the wake of the financial markets meltdown, much criticism focused on business schools and their graduates. Some of this targeted the alleged narrowness of the curriculum, some the social irresponsibility of business school graduates, and some their arrogance, overconfidence and sense of entitlement.

Specifically we believe that: curricula should be reviewed to ensure degree-program students get significant exposure to economic and business history taught in ways relevant to today’s issues and tomorrow’s leadership challenges.

Programs must create a greater capability to scan the economic, political, societal and technological environments to identify “predictable crises”. They must create greater awareness of complex systems and the options leaders have to manage what they do not understand or cannot control, and give students and program participants the conceptual base and skills associated with systems thinking.

There must be much tighter linkages between this conceptual understanding and the actions leaders must take to avoid creating organizational cultures in which conformity, overconfidence, hubris and group think are commonplace.

Students also need to develop the skills of constructive dissent so they can oppose actions they believe are wrong without having to sacrifice their careers. They must be able to analyze that vague sense of “something is not right here” so they can define the issues, check against their values, and engage in good conversations.

Educators’ own behaviours have an impact on many students. If they dismiss some corporate wrongdoing with humour instead of censure, or minimize or avoid dealing with unethical behaviours, they may convey a set of values that will have substantial negative impact.

Business and management schools and their professors and instructors, must take ownership for the organizational cultures they manifest and promote through their own organizations, programs and course designs, as well as the conversations they encourage, and ideas and behaviours they reward.

Finally, educators must commit to instill in those they have the privilege of educating a deep intellectual and instinctive understanding of the critical relationship between those who lead businesses and the societies within which they operate. We can act to improve education, but we need others to act also.

Our series will conclude next week in the columns of this newspaper.

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