MBA MakeOver

When the Carnegie and Ford Foundations unveiled their scathing critiques in 1959 of what was then the modern MBA degree, they made a serious impression on their intended audience. The top business schools scrambled to make the suggested changes in an effort to earn back a little respect from both businesses and critics at large.

While there has not been another formal report since the 1950s, there has also been no shortage of rebuke for the once-golden MBA. In recent years, critics have charged that business school education has fallen out of step with the needs of the 21st century corporation, that it fails to understand the global threat and has become more about club membership for future consultants than serious training for corporate executives.

But it appears that the top business schools have been paying attention, and many have spent the last several years reflecting inward, examining their core curricula and making changes to address issues of relevancy. Some deans, in fact, feel the critics have not done a good job keeping up with the changes their schools have made.

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