Oh! it is slow down.... I'm sorry Mr,Chidambaram. Fine. That's okay, he is no more FM.), the financial mismanagement, the failures of giant companies, the learned and certified people who connive with or show callousness when it comes to fudging in a grand scale, you name it. All these point to the top notch B-Schools, as most of the people involved in such condemnable conducts, in one way or the other, are from the top B-Schools around the world.
Recently rocked Satyam scam raises the suspicion to higher levels. Given fact that most of the top business people are educated in top most B-Schools, we tend to ask what do they teach you at Top B-Schools and what do they not? Not limited to any businesses, all these companies have Top B-School alumni in leadership roles. These are the people who have the genius of overlooking the basics of management, which is quite well known to common man, but in a very much de-jargonized language. "If you give more loan to a person already in debt, he would not be able to repay", is the basic knowledge of laymen, that was overlooked by these elegantly educated experts, which led to the sub prime crisis and resultant global economic downturn.
The paying of bulk bonuses to top executives, irrespective of industry trend or economic trend is another part of this Top B-School culture. Talk at length about sacrifice and inspire people to shed even their shirts in sacrifice, but don't compromise even a dime in your pay is an attitude that would not help the society to live in tranquil. These people with top B-degrees, top notch doctorates, and pay checks those of Godzilla's size, fail to realize the baseline of lifecycle that good or bad things would come to and end. The universal fact that darkness would definitelybe followed by light and vice versa is known to common man, but not to these elite men.
This is a pathetic failure of the education system which doesn't prepare people to accept the adversity as part of human life and endure it with positive thoughts and deeds to make it less painful. The thought process is not developed properly by the education they had, hence whatever they had is not education. The ruin runs thorugh to the rock bottom of the system. Right from the primary school we tell our children that studying will give them a better life. We tend to ignore the fact that education is a life long process, not a preparatory process for life and we pass on this wrong notion to our children also.
The refusal to accept failure is hailed as a fighitng spirit, but the fight against failure is fought without ethics and victory often evades such fighters. A mistake was spotted with the functioning of the home loan system and people at the helm of affairs refused accept failure of their system and made it more complicated with the subprime. Such kind of refusals to accept failures deserve termination from the system.
Unless we do some self analysis, and try to find out our mistakes and correct them, we'll have more crisis of the subprime kind. Business schools and the teachers there shall devote some of their time to educate their students on educating them that there do exist something called non monetary values in human life. What they don't teach you at top B - Schools are the basic facts of human life without which any education will not stand worth, the true sense of the word.