• Were business school to blame for the financial crisis?
• What should business school do to help prevent similar crisis in the future?
All over the world, global financial crisis is considered as one of the worst economic recessions, which has affected other countries in several parts of the world. Many people claim that business school is nurturing their students with less regard for the social responsibility and sustainability of a business success than there should be. The argument concerning the academies of the apocalypse has been widely discussed in terms of the effect on financial predicament due to an inadequate preparation of business education. This essay will presents a various points of view about whether business school should bear some blame and be responsible for economic recovery or continue their curriculum without a public awareness of social ethics. A further point will provide some solutions to help prevent the similar predicament in the future.
According to James (2009), he states that many people question about the value of business education, which is considered as a cause of financial crisis. The roles are played by business education especially when MBA graduates engage to the banking sector without proper learning material. It has also been pointed out that business students are taught without considering whether the programme would contribute to a sustainability of company or not. He cites pressure from The Association of Business Schools (ABS) to conform that MBA graduates are working in high positions in banks and they may have to cope with high risk-taking. This could make economy suffer from a dramatic deterioration
Many people have criticised on the consequence of financial disaster by business education, including Holland (2009) who believes that people are more focusing on making money and profit rather than ethical awareness, human rights and risk management. Furthermore, the research has been shown that students do...
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