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By　1922　Harvard　was　running　a　doctoral　programme　pioneering　
research　into　business　methods。　
Today；　over　a　thousand　business　schools　around　the　globe　offer　MBA　
programmes；　minting　some　100；000　new　graduates　each　year。　It　wasn’t　until　
the　late　1950s　that　the　first　business　schools　in　the　UK　opened　their　doors　–　
with　LBS　（London　Business　School）；　Cranfield　and　the　Manchester　Business　
School　in　the　vanguard。　In　mainland　Europe　it　took　a　further　two　decades　
for　business　schools　to　establish　a　niche　in　the　market。　The　harmonization　
of　university　education　in　Europe；　under　the　Bologna　Accord　due　to　be　
fully　implemented　by　2010；　has　already　created　some　300　new　management　
master’s　degrees。　It　is　unlikely　that　the　quality　of　education　delivered　will　
keep　pace　with　the　rise　in　quantity。　
But　despite　these　impressive　numbers；　they　represent　barely　a　drop　in　
the　management　ocean。　For　every　manager　or　executive　with　an　MBA　there　
are　over　200　with　no　formal　business　qualification。　That　an　MBA　from　one　
of　the　top　business　schools　delivers　value　to　most　of　those　who　take　it　and　
to　the　organizations　for　which　they　work　is　beyond　reasonable　doubt。　One　
of　the　measures　any　self…respecting　business　school　boasts　is　the　salary　rise　
its　alumni　achieve　in　the　three　years　a。。er　graduation；　typically　between　50　
and　70　per　cent。　
However；　Shanghai　Jiao　Tong　University’s　Antai　College　of　Economics　&　
Management　（ACEM）；　where　the　average　MBA　could　expect　a　salary　hike　
of　177　per　cent　over　three　years；　is　a　whole　lot　different　from　those　ing　
out　of　Vlerick　Leuven　Gent　who　ne。。ed　just　50　per　cent　（according　to　the　FT　
Business　Schools　top　100　Ranking；　2008）。　Outside　of　the　top　100　business　
schools；　many　graduates　will　see　no　hike　in　pay　and　even　perhaps　find　it　
hard　to　get　a　job。　
So　could　and　should　everyone　put　up　the　￡100；000　or　so　required　in　
fees　and　salary　forgone；　muster　the　appropriate　GMAT　score　and　take　an　
MBA　at　a　top　school？　It　takes　a　brave　person　to　give　up　a　job　and　bee　a　
student；　perhaps　only　a　few　years　into　their　career；　with　unpaid　loans　and　
mortgages　looming　large。　
Luckily　you　don’t　have　to　make　that　decision　–　you　can　have　your　cake　
and　eat　it。　You　certainly　need　MBA　knowledge　if　you　are　dissatisfied　with　
your　progress；　but　you　don’t　need　to　go　to　a　business　school　to　get　it。
8　The　Thirty…Day　MBA　
WHY　YOU　PROBABLY　SHOULDN’T　GO　TO　
BUSINESS　SCHOOL　
What　follows　will　probably　limit　my　prospects　of　teaching　in　business　
schools　and　none　of　it　detracts　from　the　great　work　that　many　schools　do。　
It’s　just　that　their　approach　is　that　of　‘one　size　fits　all’　and；　contrary　to　their　
mantra　that　the　customer　is　king；　in　business　schools　it　is　the　professors　
that　are　the　focal　point；　just　as　in　a　hospital　the　consultant　is　‘God’。　In　short；　
many　business　schools　do　a　great　job；　it’s　just　that　for　many　people　and　for　
much　of　the　time　they　do　the　wrong　job。　The　good　ones　are　at　the　cu。。ing　
edge　of　knowledge　and　if　you　do　want　to　see　what　is　taught　there　and　listen　
or　watch　their　star　faculty　teach；　you　can　do　so　for　free　–　just　follow　the　links　
in　each　chapter。　The　poor　business　schools；　and　that　is　the　vast　majority；　
have　their　faculty　teach　from　the　books　wri。。en　by　the　best；　so　you　may　as　
well　consider　cu。。ing　out　the　middleman　in　the　process；　with　li。。le　loss　in　
knowledge　and　a　great　saving　in　cost　and　time。　
Business　school　limitations　
Let’s　look　a　bit　more　closely　at　what　goes　on　in　a　business　school。　Anything　
from　25　to　around　2；000　students；　in　Harvard’s　case；　are　assembled　in　one　
place　at　one　time　to　cover　the　core　disciplines　that　make　up　a　Master　of　
Business　Administration　degree。　But　the　faculty　decides　what　is　actually　
taught　within　those　disciplines　and　how　it　is　taught。　Their　decision　will　
be　based　on　their　own　research　preferences　and；　as　they　set　and　mark　the　
exams；　they　have　an　enormous　amount　of　freedom　over　what　they　teach。　
For　example；　in　one　well…regarded　business　school　the　strategy　ponent　
of　the　course　prises　a　series　of　disjointed　lectures　entitled　‘Socialist　uses　
of　workers’；　‘Kloinko　for　a　glance’　（the　authors’　sole　imperative　is　explained　
–　we　have　wri。。en　this　because　we　have　the　urge　to　publish　something　now！）；　
‘The　Debt　Crisis　in　Africa’　and　‘The　New　Enclosures　–　The　Apocalypse　of　
the　Trinity　of　Deals’！！　
Any　student　on　such　a　programme　will　have　a　rude　awakening　when　
they　actually　have　to　devise　and　implement　strategy　for　real。　They　will　
know　as　much　about　modern　organizations　and　their　actions　as　someone　
reading　up　on　how　the　Chinese　discovery　of　gunpowder　impacts　on　
intercontinental　ballistic　missiles。　
The　laborious　case　study　method　
Pioneered　by　Harvard　and　championed　by　schools　such　as　Cranfield；　
which　hosts　the　European　Case　Study　Clearing　House；　Bocconi　（Milan）；　
Esade　（Barcelona）　and　INSEAD　（Paris）；　the　case　study　teaching　method　is　
Introduction　9　
de　rigueur。　Business　schools　use　the　case　study　as　a　vehicle　for　applying　
and　testing　out　the　theories　their　students　are　studying　in　class。　The　logic　
for　this　is　impeccable。　By　studying　a　business　at　a　particular　moment　in　
time；　students　are　forced　to　grapple　with　exactly　the　kinds　of　decisions　and　
dilemmas　that　managers　confront　every　day。　The　case　method　brings　into　
the　classroom　the　opportunity　to　analyse　a　plex　situation；　where　all　the　
relevant　facts　are　not　available；　and　persuade　others　to　your　point　of　view。　
Of　course；　if　you　weren’t　in　the　classroom　you　would　be　in　your　own　
organization；　evaluating　a　business　opportunity　if　you　plan　to　start　a　business；　
or　looking　outside　at　other　enterprises　for　new　career　prospects。　In　
short；　you　would　have　no　need　of　a　case　study。　You　would　even　have　to　
hand　an　infinite　supply　of　people；　whose　views　differed　from　your　own；　
with　whom　to　debate　the　options。　
Case　studies　are　o。。en　dated　and　inappropriate　and　they　have　to　be　
known　to　the　lecturer；　so　they　stick　to　the　limited　range　panies　and　
industries　they　know　well　or　that　have　been　prehensively　covered　in　
teaching　notes　provided　by　the　case　writer。　Serious　as　these　deficiencies　
may　be；　the　greatest　problem　is　that　so　much　time　is　spent　both　in　and　out　
of　class　debating　issues　with　people　who　may　know　as　li。。le　as　you　about　
the　business　or　the　problems　and　opportunities　being　explored。　The　real　
learning　to　hours　invested　ratio　is　poor。　
Much　the　same　argument　can　be　made　for　business　games；　Outward　
Bound　exercises　and　the　like；　which　also　set　out　to　simulate　the　‘real’　world　
for　a　group　of　students　who　temporarily　have　elected　to　leave　it。　If　you　
haven’t　le。。　the　real　world　you　don’t　need　a　simulated　one。　
None　of　this　is　to　suggest　that　there　is　nothing　to　be　learnt　from　studying　
other　businesses；　their　successes　and　failures。　Indeed　in　this　book　you　will　
see　many　such　examples。　Rather　it’s　that　too　much　time　is　spent　on　this　
activity　in　business　schools；　the　cases　themselves　are　dated　and　in　any　
event　you　can　glean　the　knowledge　more　efficiently　yourself　from　books　
and　articles。　
The　missing　lecturers　
The　prospectus　of　business　schools　will；　where　they　have　them；　feature　
their　star　faculty。　You　can’t；　however；　be　certain　you　will　see　much　of　them　
while　you　are　there。　In　order　to　keep　their　stellar　positions；　such　academics　
have　to　lecture　around　the　globe　as　visiting　professors　in　other　schools。　
They　need　to　a。。end　several　conferences　a　year；　as　that　is　the　primary　way　
to　keep　abreast　of　new　job　opportunities。　In　order　to　get　to　conferences　in　
the　first　place　they　have　to　publish　papers　in　learned　journals。　
Learned　journals　are　where　academics　display　their　intellectual　prowess　
to　a　very　limited　audience。　The　average　readership　of　a　double…blind　
10　The　Thirty…Day　MBA　
referred　article；　that　is；　one　that　has　been　selected　by　a　respected　peer　group　
of　academics　that　have　not　been　given　the　author’s　name；　is　three。　The　
purpose　of　being　published　is　to　have　sufficient　high…quality　citations　to　
ensure　that　your　school　maintains　and　improves　its　research　rankings；　and　
so　its　position　in　the　league　tables；　and　to　be　eligible　for　promotion。　
Except　in　so　far　as　it　polishes　the　business　school’s　brand；　this　activity　
is　of　li。。le　benefit　to　its　current　students。　Only　a　tiny　fraction　of　1　per　cent　
of　the　research　published　in　journals　results　in　useful　knowledge。　That’s　
not　to　devalue　the　activity　totally；　as　knowledge　about　what　works　and　
what　doesn’t　in　business　is　vital；　however　inefficiently　gained。　The　problem　
is　that　in　the　pursuit　of　this　knowledge　the　student’s　welfare　can　be　neglected。　
For　example；　it　is　mon　practice　for　seminars　to　be　run　by　PhDs　
with　li。。le　or　no　experience　beyond　the　walls　of　the　classroom　in　which　
they　are　teaching。　In　fact；　in　some　schools　some　subjects　are　not　even　
taught　by　a　‘warm　body’。　Basic　accounting；　for　example；　from　double…entry　
bookkeeping　through　to　ratio　analysis；　is　o。。en　covered　using　self…learning　
so。。ware。　Nor　can　you　even　be　certain　that　where　you　are　taught；　your　
teacher　will　mark　and　access　your　work。　That　job　is　o。。en　outsourced；　much　
as　with　school　external　exams　–　GCSEs　and　the　like。　
In　fact；　the　more　successful　the　business　school　is　at　recruiting　students　
the　less　likely　you　are　to　be　taught　and　evaluated　by　the　best　teachers　
–　unless　of　course　you　are　on　an　executive　development　course；　when　
you　will　almost　certainly　be　taught　by　the　best　faculty；　who　may　also　be　
prospecting　for　consultancy　assignments。　
The　overstated　knowledge　base　
Universities　in　general　and　business　schools　in　particular　are　repositories　
of　valuable　knowledge。　What　were　once　known　as　libraries；　now　o。。en　
referred　to　as　management　information　resource　centres；　are　at　the　heart　of　
where　that　knowledge　is　housed。　The　Baker　Library　at　Harvard；　the　Judge　
Business　School　Library　at　Cambridge；　the　Said　Business　School　Library　
at　Oxford　and　the　Goizeuta　Business　School　Library　at　Atlanta　are　all　fine　
examples　of　modern　business　libraries　endowed　by；　and　named　a。。er；　
distinguished　benefactors。　In　Atlanta’s　case　it　was　Robert　C　Goizeuta；　the　
chairman　and　chief