Business education has a fundamental problem which, in combination with the ever increasing tuition, is likely to lead to its demise. The problem is that many classes in business schools are taught by people who have never set their foot into a real business. How can those people possibly teach aspiring managers how to manage organizations? Would you ever take driving lessons from someone who has never driven a car? I think most people would agree that managing organization is a far more complex task than driving a car.
Warren Bennis and James O'Toole do a great job articulating this problem in the article titled "How Business Schools Lost Their Way"
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