Business schools shouldn’t stand on their own
Colin Mayer, Peter Moores Dean at the University of Oxford's Saïd Business School, argues in an opinion piece published last year that "business schools are on the cusp of a new dawn which will see their significance and size expand to greater heights."
He's right, but not for the reasons stated in his opinion.
Noting that, since "their inception more than 100 years ago, the death of business schools and MBAs has been predicted to be imminent," Dr. Mayer believes business schools are finally finding their place within the academy. He openly discusses the dirty secret about how business schools are perceived by business as being too academic and by academia as not being academic at all. In short, they have an identity crisis.
Dr. Mayer correctly observes that in their rush to become relevant to business, which often reimburses or subsidizes the high tuition fees of profitable MBA programs, business schools have forgotten the academic nature of being part of the academy. "Business education is not or should not fundamentally be about 'how to' manage a business. It is as much about 'why' and 'what'," Dr. Mayer writes.
Business schools need to be "more in line with what universities traditionally teach," he proclaims.
Up until this point, he is making a good argument about what a business education should be - more academic than practical training - but doesn't yet explain why business schools belong within the university.
He uses the management degree as his example degree program. Management skills require "a fundamental understanding of the science, medicine, politics and law," Dr. Mayer writes. He notes that businesses cannot teach these fundamental skills on their own as those in business do not have the specialization to understand these skills as well as those immersed within the academy.
Management, in other words, is a skill that requires wide-ranging knowledge gathered from several disciplines. But here is where we differ: Nothing in his argument justifies the existence of business schools as standalone faculties with their own faculty and dean.
Business is nothing more than a glorified social science. It is a department masquerading as a faculty.
Most subjects taught in business schools could be better taught by academics housed within the departments of their discipline - merely with a specialization of how the discipline relates to the business world. There is nothing academic (learning to be an accountant is not academic, it is practical and belongs in colleges) taught by business schools that could not be housed within the existing disciplines of social science.
The Saïd Business School dean is correct that business schools are going to continue "to expand to greater heights." Not because they are actually becoming truly academic - they are not. They will expand only because they are profitable units within the money-hungry modern university.
More on this topic: The Chronicle of Higher Education has an interesting piece about the push to increase the liberal arts content of the undergraduate business degree.

JOEY COLEMAN