Business schools have been battered by criticism for the role they played in the global financial meltdown.
Some charge that the values imparted in MBA programmes – maximising shareholder value and personal gain, for instance – put too much emphasis on making money and too little on social considerations.
Others say business schools do not train students properly to understand the limitations of the financial models used in the classroom. Still others claim that business schools have done nothing to foster accountability in students.
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