Ben W. Heineman, Jr. writes in the Harvard Business Review about whether or not management should be a profession like law and medicine in order to promote responsible conduct and trustworthy business leadership.
This has been a topic of discussion in our home this week as my 12 year old daughter is meeting with her school principle to discuss her subject choices for High School. She wants to be an entrepreneur (like her dad!) and so that poses the question, ‘can I direct her to a direction of study?’.
This thesis in its contemporary form, propounded by Rakesh Khurana, Nitin Nohria and Daniel Penrice in a 2005 article, remains a subject of controversy. Khurana et al highlights that business people, like doctors and lawyers, play an important and distinctive role in society and therefore have a distinctive set of responsibilities.
Rethinking The MBA
That is the dilemma that Rethinking the MBA raises as the need for all MBA programs to“focus more attention on issues of accountability, ethics and social responsibility.” If this is the direction that forward thinking Business Schools are heading in then I could be safe in recommending Business School and a MBA to my daughter, but then again I’ve found in my business career a good legal head stands you in good ground.