FUTURE INDUSTRY TITANS

Business School professor Jay W. Lorsch does not express surprise when he hears that some students see their experience at Harvard as positioning, not preparing, them for their careers.

“There has been some criticism that the MBA isn’t what it used to be,” Lorsch says. “We’ve been asking ourselves, ‘Are we really equipping students to serve society as the best business leaders?’”

Critics speaking out against the value of the MBA after the financial crisis struck emphasize the need to integrate more comprehensive ethics and risk management training into business school curricula for a more relevant education.

Over the past year, the Business School, which regularly updates its curriculum, created new courses on managing modern financial firms and understanding the history of financial crises, according to Joseph L. Badaracco, senior associate dean and chair of the MBA program.

Though several faculty committees are still discussing preliminary ideas for curricular reform, Badaracco says that they may recommend allowing for more flexibility in the final term of the MBA program.

Students may be able to take a six-week course or conduct a field study off campus, Badaracco explains, adding that this proposal would offer more hands-on experience.

Personal leadership development will likely be a focus of a possible series of small-scale courses running in tandem with the regular curriculum, and the school may invite venture capitalists on campus each week with business plans for students to analyze, Badaracco adds.

With curricular reform planning underway, faculty say they hope students will reap benefits of a more relevant MBA education.

“The Harvard name will always be attractive,” Lorsch says. “The name will help you get contacts, but hopefully you’ll get an education.”

—Staff writer Tara W. Merrigan can be reached at tmerrigan@college.harvard.edu.