Evolution of Business Schools and the Challenge of Outdated Theories

We discuss a critique of business education -- Sumantra Ghoshal’s article from the Academy of Management Learning and Education, “Bad Management Theories are Destroying Good Management Practices.” He describes a feedback loop between schools and practitioners that has led to theories based on a “pretense of knowledge” that assumes causality and predictability of the business environment and a “gloomy vision” that assumes the worst of human nature. In effect, theories are built around ideas that managers cannot be trusted and matters of complexity can be managed through mathematical models, setting ethics and morals aside. A great think piece for considering the roles of business schools and professional education!