I recently wrote a post on MBA programs overseas. One of the main points of the article focused on the growing distrust of US MBA programs because of the current economic situation. Critics of US programs cite a certain level of arrogance within our business schools. The schools are listening, and have started taking major steps to overhaul their programs, both in the short and long term.

Business Education: The Debate
On one side we’ve got the critics of US programs. The other side of the issue wants to talk about personal responsibility. The issue, they say, is not that the programs taught the underhanded behavior we’ve seen of late, but that the graduates themselves simply acted irresponsibly. I’m all for personal responsibility, but the programs can’t shirk one-hundred percent of guilt.

Maybe an extra business ethics course here and there would have helped, maybe not. Let’s not stray into the hypothetical, though. We’ve gotten ourselves into quite a pickle, and we need to deal with it, not speculate about what could have been done. Business schools are changing the way their programs are structured, which is a great start. The future of business education is being restructured with a renewed emphasis on responsible practices.

Education of the Younger Generation
The economy has hit public education pretty hard as well, but help is on the way. Stimulus packages aimed at updating facilities are coming down the pike, and business leaders are awaiting a more-prepared up-and-coming workforce. Let’s start early. This generation is growing up in one of the worst economies our nation has ever seen. A new era of fiscal responsibility seems to be headed our way.