Should Business Schools Be Like Medical Schools?
| Peter Klein |
Fabio Rojas at orgtheory.net suggests that business schools require more field work. You wouldn’t trust a doctor who graduated from medical school without working on a real patient, so why hire an MBA student who hasn’t performed any “rotations,” in companies or in the business school itself?
Of course, as Fabio acknowledges, this model doesn’t work if business education is primarily a signal, a la Spence. On the other hand, gradute school seems a highly costly and inefficient signaling mechanism — why not just give prospective employees an IQ test? Or, if social networking is important, put students in one-year MBA programs or even shorter mini-programs with tough admission requirements and a lot of social events with alumni and local executives. A much cheaper signaling + networking mechanism, presumably. Any thoughts?