Stanford Business School Lays Off 12 Percent

Should the depression continue without abating more business schools will join this one in cutting staff. Education industry is not without its problems of shortsightedness since sound prudent financial management applies to a business school just like any commercial organization. Many business schools teach fundamentals to be a business leader with a holistic viewpoint but really they should be looking at micro-financing and basic bookkeeping so as to balance the books and make sure there are no funds chasing after a never ending rainbow. Secondly, the paradigm shift should be that business schools should foster less elitism and encourage a process of alleviating the ills of the world like environment, social entrepreneurship and alleviating domestic and international poverty. In terms of learning on Operations Management it should not be on an ad-hoc basis just because something is nascent like learning about JIT during the 1980s and now about China since it is the fastest growing economy. It should innovative management on the forefront of its syllabus and make certain that globalization issues are not just academic but pragmatic. Unlike other sciences, business subjects are prone to being impacted by social and psychological issues. Finally, business schools will have to lower their fees charged if they want to remain competitive as the world is now minting business schools and universities like chocolates.

Dr Jon Tay 1:18PM January 24, 2009