The Mba Is Losing Its Magic Essay

1589 Words Sep 17th, 2016 7 Pages
The MBA is losing its magic
During the recession many insurance, financial, and consumer products companies reduced hiring significantly. These decisions profoundly affected MBAs, since financial services, marketing, and business analyst are precisely the kinds of jobs MBAs train for. Simultaneously benefits were cut. These included educational benefits. Borrowing was the only alternative. Senior executives are quoted as saying an MBA is not worth the investment unless the student graduates from one of the top five US programs.

Management experts agree the business landscape has changed significantly postrecession. However, the AACSB has resisted changes in curriculum reflecting these changes. Consequently, MBA coursework is outdated and largely irrelevant in today 's business environment.

The End of Business Schools
The history of graduates business education really began in 1956 when 3200 MBAs were awarded in the US. The MBA population grew exponentially and by 1997-98 had attained over 100,000. The number of schools offering an MBA have grown to over 900, causing Robert Hamada, retired dean of the University of Chicago 's Booth school of business to declare "the industry is overbuilt."

Skating Through B School
Meanwhile, a significant body of evidence suggests student disengagement is highest in business school. Undergraduates spend less time preparing for class than any other major. Studies have found business majors progressed least in national tests of writing and…

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