(MBA50.com) If you read a manual of medicine from as recently as the 1920s, you realize that bloodletting was among the most common medical practices to make patients feel better. We now think of these remedies with horror, as more often than not they made the patients situation considerably worse, if not fatal.
So when we now read some of the advice of financial managers in the ’90s about mortgages and the diversification of risk, the parallel is obvious. So is there a need to reinvent management?
In this interview with Santiago Iñiguez, Dean of the IE Business School in Madrid, he looks at the criticism that business schools have faced for their role in the recent financial crisis, and the need to do better and more relevant research to understand how organizations behave. “This is a science in the making,” he argues, “and business schools need to adjust their curriculum, bring in new knowledge and ways of thinking to meet the demands of society.”
Author of a new book, “The Learning Curve“, Iñiguez prescribes three areas to re-invent business education:...