GFC – who’s to blame

On March 29 Radio National’s Background Briefing program had a very interesting program on how “they’re beginning to say that narcissists with Harvard MBAs killed Wall Street”.

Something happened to management culture decades ago and now being a Master of Business Administration, especially from Harvard, is rather on the nose. MBA, it’s being said, can also stand for ‘Mediocre but Arrogant’, or ‘Management by Accident’

The show had interviews with professors from the major business schools who have been warning of the problems of managers who only have MBA’s and no “domain knowledge” of the companies that they manage. Continue reading