Feb 25 2011
Has MBA Failed? – Part 1 of 2 (Original Version)
This is the original version of my article sent to be published in MBA Edge Quarterly magazine January 2011 issue. The edited version published in magazine might be a little different. Your feedback is much welcome.
May Lee and Muralee parted as MBA coursemates as they graduated from business school. May Lee continued working for her employer and sponsor. Muralee applied for Cradle Investment Programme (CIP) to set up his own multimedia production house. Now armed with MBA qualification, both graduates hope high for better life to come. However, the reality is not as rosy as they dreamed of.
Far from becoming a capable manager, team leader and player in the company as expected by her company, May Lee does not seem to have improved in these capacities except an increase in head knowledge. Her China-man boss starts to wonder what kind of “shit paper” she has acquired in her MBA certificate sponsored out of employee development fund.
No doubt May Lee’s paper qualification shows her straight A results. But her performance is not up to the mark at all. Her MBA course was conducted in English, but her English does not seem to have improved. She may have spoken in many class presentations, but she still reads from the slides and her presentation does not excite the audience at all.
She may have completed piles of assignments and case studies, but she does not seem to have any clue when asked to comment on the strategic direction of her company. She may have worked in teams and groups, but she still does not seem to be able to work independently, much less handle tough negotiations with clients competently.
Muralee is in no better situation. In order to apply for pre-seed grant from the Cradle fund, he needed to draw up a business plan for his new proposed business. However, he does not remember having learned about business plan in his MBA course. Well, he did write a marketing plan in Marketing Management class. He also submitted one assignment on financial projections in Financial Management class. But there is no one single class or project requiring him to combine all these individual pieces into one complete business plan!
Moreover, Muralee never learned how to pitch his idea to judges who must pick the best business ideas out of so many. He has never been taught to communicate and sell his ideas to venture capitalists and angel investors. His MBA did not even talk about venture capital! Of course, the judges rejected his application in favour of much better ideas and pitches by non-MBAs who know the trade better. To them whether they have MBA or not does not really matter. In fact, the higher qualification you have, the better piece of work you are expected to produce.
What went wrong with May Lee and Muralee? Well, they may have thought MBA qualification is the panacea that makes us better person at work and in business. They were once convinced that MBA is the passport towards higher salary, promotion and prosperous future. After all, business schools tout slogans like “Shaping Business Leader of 21st Century”. But is this the truth? Has MBA failed to address the real needs in the marketplace?
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