Business schools

Technological advances spur creation of new online M.B.A. programs

Smart Title: 

U of Southern California becomes the latest institution to launch an online M.B.A. program, joining what program directors describe as a market in an “experimental phase.”

Audit finds that U. of Missouri at Kansas City business school gave false information to Princeton Review

Smart Title: 

Audit finds U. of Missouri at Kansas City gave false information to Princeton Review to inflate rankings of business school -- and reveals e-mails in which officials say they faced donor pressure on ratings.

Essay defending business schools from recent criticism

Attacks on business and business education (including this one recently at Inside Higher Ed) are commonplace, and not just in higher education. The Obama administration’s call to action on income inequality more or less explicitly lays blame at the feet of corporate America, and Pope Francis wrote a letter last December widely interpreted as denigrating business. There is no doubt that the U.S. middle class is suffering downward mobility. Victims include the humanities professors who call for us to close business schools in order to save humanities education. But polarizing comments on these issues from within the academy do little to help us embrace the role that U.S. higher education institutions can and should play in promoting good citizenship, ethical leadership, and national economic vitality.

The cost of a residential four-year college or university experience will contribute to inequality unless we can figure out ways to increase access. This will require both cost control and creative approaches for new revenue generation. Some activities on our campuses generate profits, while others require subsidies. At the undergraduate level, at least, business schools hosted by liberal arts colleges or as parts of large universities that have an arts and sciences college typically generate revenue considerably above costs and have some of the highest “contribution margins” on campus.

Business school deans in these settings, and perhaps others, feel great pressure to balance educational quality and post-graduate opportunity against cost control because, on the one hand, families demand a “return on investment” and, on the other, salaries and infrastructure expenses at business schools tend to be higher than the campus average. Whatever our politics, most of us business school deans believe in the still-great promise of U.S. higher education, with its liberal arts roots, and are pleased to help balance the campuswide budget.

But beyond feeling good, we need the humanities departments precisely because they help our business students become individuals whose actions will demonstrate strong moral and ethical behavior. Around the time of the Enron scandal, as corporations and individual business leaders appeared to lose their way more than usual, many business schools took up the challenge of educating for greater social responsibility. In 1999, business schools around the globe began competing to be highly ranked for their commitment to business education emphasizing social and environmental concerns. So successful was that effort, sponsored by the Aspen Institute, that it was disbanded in 2012 because the issues and concerns initially highlighted as absent from business education had become mainstream.

Playing a similar role, Net Impact is a business-school centered “community of more than 50,000 student and professional leaders creating positive social and environmental change in the workplace and the world.” In 2013, leading business schools joined forces with powerful corporate sponsors to launch a national U.S. conference on how business schools can do more to support “underserved communities.”

We need humanities departments to help illuminate the powerful ways in which business can be a force for good. “The freedom and extent of human commerce depend entirely on a fidelity with regard to promises,” wrote David Hume, a leading thinker of the Enlightenment. Confucius put it succinctly, as always: “Virtue is the root, while wealth is the branch.” The Quran says that “Profit cannot be but fair if business follows the religious instructions.” Other examples abound across time and across cultures, including from the U.S.’s pre-Civil War history. Study of business through the lens of the humanities helps explain the language used today by many business leaders who speak about earning and preserving corporations’ “social license to operate.”

Higher education administration makes little sense if one has no faith in our social purpose, but our social license to operate is also under attack. Rather than scurry to meet demand for pre-professional majors on four-year liberal arts campuses and risk aggravating tensions among schools and departments, we should be getting out of our foxholes and looking for alignment and synergy.

The case made for computational thinking skills gained in STEM majors, for example, sounds a lot like the case made for humanities majors. Absent support from a vibrant humanities faculty, I certainly cannot achieve my goal of delivering a “values-based” business education that molds individuals whose actions will affirm corporate commitment to ethical standards and social responsibility. The current bureaucratic structure of most higher-education institutions makes interdisciplinary teaching harder than it should be, and the tenure system arguably militates against cross-disciplinary research. But rather than succumbing to fear and negativity in the face of financial pressures, faculty should take up the challenge of being credible, respected advocates for integrative learning and for the changes required to make it a reality.


Sylvia Maxfield is dean of the Providence College School of Business.

Editorial Tags: 

UCLA's full-time MBA program turns down state funding

Smart Title: 

Program turns down state money in hopes of raising tuition and luring more donor support. Other programs are watching. Is this a sign of what's next for the UC system?

Thunderbird calls off plan to work with Laureate and seeks another partner

Smart Title: 

Thunderbird drops controversial plan to create joint venture with Laureate, but says it needs to find another entity for an alliance. Alumni remain skeptical.

One MBA program makes no apologies for its high costs

Smart Title: 

At this international program, there are no apologies for a high price tag.

Universities unveil programs targeting specific segments of the M.B.A. student market

Smart Title: 

As the pool of M.B.A. students grows, universities unveil tailored programs to capture different segments of the market.

Interview with co-editors of new book on future of business education

Smart Title: 

Editors of new volume of essays discuss their ideas about the importance to undergraduate programs of including arts and sciences disciplines in meaningful ways.

Romney and Harvard program put new spin on '60s higher ed

Higher education of the 1960s usually brings to mind student rebellion and campus unrest. Berkeley and Mario Savio are often invoked to symbolize the era of colleges and the counterculture.  But this is distorted because it is incomplete. Why not have a collective student memory that includes Mitt as well as Mario?

This seems counterintuitive to the counterculture  -- but only because we have overlooked all the innovations that were taking place on American campuses in these tumultuous years. I want to make the case to add seats on the historical stage of higher education – especially with the upcoming November presidential election. 

To truly understand the long-term legacy of the 1960s, we need to include Harvard’s Joint M.B.A. and J.D. program as the institution -- and its famous alumnus, Mitt Romney, as the individual – that also are part of the higher education lyrics when boomers are “Talkin’ ‘Bout My Generation.”

Scott McKenzie attracted a lot of listeners in 1967 when he sang, “If you come to San Francisco, be sure to wear a flower in your hair....” Mitt Romney, however, was not listening and went in a different direction – politically and geographically. In 1969 he left San Francisco (well, Stanford and Palo Alto) and -- after a detour to France -- headed east to graduate school at Harvard for its brand-new joint M.B.A./ J.D. program, which was founded that year. The rest is history -- and no less than the higher education of perhaps our next president.

Put aside such artifacts as Steven Kelman’s memoir about student protest at Harvard in 1969-70 in his book, Push Comes to Shove. Forget James Simon Kunen’s The Strawberry Statement and its provocative subtitle, “Notes of a College Revolutionary.” Above all, suspend from memory the images of Harvard first-year law students as depicted in Hollywood’s The Paper Chase. It’s time to reconstruct the early years of Harvard’s joint M.B.A./J.D. program and its students, which were a powerful, albeit low-profile counter to the counterculture.

Harvard’s joint program brings to mind the academic equivalent of epoxy cement -- two ingredients (law school and business school) each of which is rigorous in its own right, and when mixed, create an incredibly hard bond -- probably impervious to broad humane or societal considerations. Two articles over the past six months in the New York Times provide some insights into both the joint program and into Romney as a graduate student: Jodi Kantor’s “At Harvard, A Master’s in Problem Solving,” and Peter Lattmann and Richard Perez-Pena's “Romney, at Harvard, Merged Two Worlds.”

As Lattmann and Perez-Pena wrote: “One of the most exclusive clubs in academe is a Harvard University dual-degree program allowing graduate students to attend its law and business schools simultaneously, cramming five years of education into four. On average, about 12 people per year have completed the program — the overachievers of the overachievers — including a striking number of big names in finance, industry, law and government.  ...In addition to Mr. Romney, founder of Bain Capital, the roughly 500 graduates include Bruce Wasserstein, who led the investment bank Lazard until he died in 2009; leaders of multibillion-dollar hedge fund and private equity firms like Canyon Capital Advisors, Silver Lake Partners and Crestview Partners; high-ranking executives at banks like Citigroup and Credit Suisse; C. James Koch, founder of the Boston Beer Company; and Theodore V. Wells Jr., one of the nation’s top trial lawyers.”

No doubt these graduate students were smart and worked hard. Beyond that, it’s important to note some characteristics that accompanied this program and its work ethic. First, the formal curriculum pulled inward rather than outward.

Second, Romney as a student in the joint program tended to screen out external events as distractions. According to Kantor, “And unlike Barack Obama, who attended Harvard Law School more than a decade later, Mr. Romney was not someone who fundamentally questioned how the world worked or talked much about social or policy topics. Though the campus pulsed with emotionally charged political issues, none more urgent than the Vietnam War, Mr. Romney somehow managed to avoid them.” Kantor reinforces this depiction by quoting one of Romney’s law school study partners, who recalled, “Mitt’s attitude was to work very hard in mastering the materials and not to be diverted by political or social issues that were not relevant to what we were doing.”

The program pushed toward intensive insularity using the case study pedagogy that relied on no books or contextual sources – all at a time when genuine interdisciplinary, broad perspectives were finding some breathing space in prestigious professional schools elsewhere.  It’s too bad for the education of future business (and political) leaders that the joint program that started in 1969  did not consider the very different perspective offered by Earl Cheit, professor (and later, dean) of the business school at the University of California at Berkeley.  In 1964, with support from the Ford Foundation, Cheit invited five scholars outside the field of business to join him in conducting a workshop that for the first time brought together business school professors with others to explore and preserve “the connection between the intellectual adventure and the business adventure.”

What a contrast to the Harvard Business School’s case study approach! Cheit’s Ford Foundation program at Berkeley featured, first as talks and later as readings, a cornucopia of ideas and issues, led off by the economist Robert L. Heilbroner’s “View From the Top: Reflections on a changing business ideology.” John William Ward, historian and president of Amherst College, spoke about “The Ideal of Individualism and the Reality of Organization.”

Henry Nash Smith of Berkeley’s English Department discussed businessmen in American fiction in the “Search for a Capitalist Hero.” Historian Richard Hofstadter asked, “What happened to the Anti-Trust Movement?” The economists Paul Samuelson and Cheit himself analyzed changing roles of business in how managers cultivate social responsibility – and how American society balanced personal freedoms and economic freedoms in a mixed economy.” Guest speakers from France and Belgium provided American businessmen with perspectives on business in Europe.

Cheit’s knowledgeable involvement in exploring the past and future of higher education did not stop with this Ford Foundation business program. In 1974-75 he sought (and received) permission to teach a graduate course in the School of Education – one  in which he explored how it was that professional schools of business, agriculture, forestry, and engineering came to have a place in the American university. The course content and topic were so novel that it led to publication of a book by the Carnegie Commission, The Useful Arts and the Liberal Tradition

Once again, it showed that an intellectual and administrative leader in the business school could look outward within the multi-versity and reach outward to the larger society and the economy by complicating the questions rather than doggedly seeking to solve business problems. Cheit also was one of the leading economists to sound an alert to the deteriorating financial condition of the nation’s colleges and universities in his 1971 book on higher education’s “new depression.”

In contrast, what were the aims and goals of the Harvard joint program? One observation provided by NYT reporters is revealing: “But former students and professors say it makes sense that a group of overachievers would be drawn to financial markets, a hypercompetitive field with the promise of immense riches.”

Really? Why were these overachievers necessarily confined to these goals?  What if the teaching and discussion had included some consideration of ethics, public good, and social responsibility – along with pursuit of individual prosperity?  It’s important to remember that there were good alternatives.  For example, Cheit’s Berkeley approach with the Ford Foundation project was to create curiosity, exploration and reasonable doubt about our national obsession with business.  

The Harvard joint program, especially its business school component, emphasized the sharpening of decision-making tools, especially in finance.  Each, of course, has their place. But if a concern of a university is to ask, “Knowledge for what?,” it is Cheit’s Berkeley model more than Harvard’s joint program that is sorely needed for the thoughtful leadership, whether in business or politics, required for the early 21st century.  I’ll be thinking about that on my way to the polls on Election Day in November.

John R. Thelin is a professor at the University of Kentucky.  He was a graduate student at the University of California at Berkeley from 1969 to 1974. He is author of A History of American Higher Education (2011).

Bad for Business

Smart Title: 
Most full-time, two-year M.B.A. programs saw a decline in applications this year, a turnaround from a period of growth, survey finds.


Subscribe to RSS - Business schools
Back to Top