A friend of mine recently forwarded me this article, in which the author argues that a business school’s academic rigor is either mediocre or subpar when compared to other academic programs.
As I complete my graduate studies in business school, I totally agree that other academic programs have superior academics, when compared to business school. I will agree that an MBA Program’s academic offering is not overwhelmingly valuable … compared to the overarching value of an MBA Program.
The author of the article, who is a history professor, seems to approach the value of business school through a purely academic lens, as opposed to a practical lens. Notice how, in the above paragraph, I specify the completion of my graduate studies in business school. Graduate studies are only a small component of an MBA Program, and should not be evaluated in the absence of the total offerings that an MBA Program provides.
Quite frankly, the graduate studies completed throughout the MBA are not nearly as important or relevant as the professional, social, and personal development that naturally occurs as a function of a balanced, structured MBA Program. Other purely “academic” collegiate programs will certainly have higher academic rigor compared to business school … because business school studies are so much more than “studies.”
A full-time, on-campus MBA Program offers professional development in the forms of leadership opportunities, internships, and seminars. Many MBA Programs offer student-run MBA Associations that allow their MBAs to actively engage in their Program by managing sizeable budgets, organizing special interest events, and supporting businesses that generate additional funding for the MBA Association. Additionally, two-year MBA Programs offer a “summer gap” in which their MBAs can take on an internship to gain more experience and enhance themselves professionally. Throughout an MBA Program, MBAs become acclimated to the recruiting process and learn how to build networks, present themselves, and engage top-tier companies to enhance their business acumen and land value-adding internship opportunities. As a byproduct of the leadership and internship opportunities offered, many MBA Programs host seminars, ranging from dinner etiquette to improvisational speaking, that expose their students to various facets of the business world. The culmination of leadership opportunities, internship experiences, and seminars transforms MBA students into MBA professionals and business leaders.
Further, a full-time, on-campus MBA Program offers social development in the structure of its academics and provision of extracurricular activities. Most MBA coursework is team-oriented and requires group collaboration for completion. Working with different classmates, on different teams, throughout different classes, materially develops an MBA’s ability to connect with, and relate to, people of different backgrounds, interests, and professional ambitions. As an extension of teamwork at the academic level, many MBA Programs offer extracurricular activities in the forms of special interest clubs and Program-specific interaction events. The planning of club events and interaction events, as well as actual engagement in the events themselves, provides MBAs with multiple layers of interaction, interdependence, and involvement.
Finally, a full-time, on-campus MBA Program offers personal development, in both unexpected and intangible ways. The built-in flexibility of an MBA Program, in terms of free time and extracurricular offerings, provides MBAs with limitless opportunities to develop themselves personally. For instance, within my MBA Program, I discovered a passion for writing. I created a blog that offers relevant insight for leaders and thinkers (which can be found at www.kylecrooke.com, for a quick plug) and am working on a book that tackles the notions of engagement and mission fulfillment. Other colleagues in my MBA Program are devoting some of their time to starting or running existing businesses; one of my colleagues is studying for, and passing, various finance examinations and certifications. Long story short, MBA Programs offer personal development opportunities that are limited only by the interests, mindsets, and imaginations of participating MBAs (and, at times, require a dose of hard work).
An MBA Program’s professional, social, and personal development opportunities materially outweigh the value of MBA coursework (although the coursework itself still offers some level of value, particularly in the form of developing fruitful relationships and networks with the accomplished professors). Given the end goals and interests of MBA students, I’d say that an MBA Program must provide these development opportunities, at a significantly larger value, compared to its academic studies. The blackboard is only one tool, out of many, that brings value to an MBA student. Every networking event, interview, and seminar provides insight that cannot be matched by academics. Every special interest club, engagement opportunity, and case competition offers unparalleled collaborative and development experiences. Academics are a supplement to the holistic offerings of an MBA Program – and that is precisely why business schools are so valuable. Business schools prepare their students for business by providing a business education that far exceeds textbooks and addresses the developmental needs of its students accordingly.
