Knowledge is power.
The deeper question still exists: Why does management education exist? Author Matthew Stewart explains that "the same moment was born the notion that management is a distinct function best handled by a distinct group of people—people characterized by a particular kind of education, way of speaking, and fashion sensibility." Frederick Winslow Taylor, the author of The Principles of Scientific Management and more widely known as the founding father of the management business thus known the term, "management theory" came to life in 1899 with a simple question: “How many tons of pig iron bars can a worker load onto a rail car in the course of a working day?” Taylor observed that industrial work (or any type of work) can be done more efficiently by paying a higher rate for qualified labor than compared to the work of lessor quality at a lower pay rate. Thus was born the idea that management is a science—a body of knowledge collected and nurtured by experts according to neutral, objective, and universal standards.
Matthew Stewart goes onto write, "In the spring of 1908, Taylor met with several Harvard professors, and later that year Harvard opened the first graduate school in the country to offer a master’s degree in business. It based its first-year curriculum on Taylor’s scientific management. From 1909 to 1914, Taylor visited Cambridge every winter to deliver a series of lectures—inspirational discourses marred only by the habit he’d picked up on the shop floor of swearing at inappropriate moments. At the end of the day his “method” amounted to a set of exhortations: Think harder! Work smarter! Buy a stopwatch!"
"As we explore the continued origins of management theory, scientific or not we find that the thing that makes modern management theory so painful to read isn’t usually the dearth of reliable empirical data. It’s that maddening papal infallibility. Oh sure, there are a few pearls of insight, and one or two stories about hero-CEOs that can hook you like bad popcorn. But the rest is just inane," writes Stewart. Obviously, a few of us are in 100% complete agreement with Stewart's stance on the fragile notion that having an MBA places an individual at any more of an increased chance and rate of success when compared to those that do have an MBA.
At the end of the day, business and management comes down to a "people business." Does having the knowledge of an advance degree in business management, business analytics and managerial accounting really matter? Is that combination going to set a man or woman up for ultimate success in whichever industry they choose? This is precisely where this debate is centered. Having the skills by acquiring them through reading is not the same as acquiring the skills by doing.
Matthew Stewart goes onto write, "In the spring of 1908, Taylor met with several Harvard professors, and later that year Harvard opened the first graduate school in the country to offer a master’s degree in business. It based its first-year curriculum on Taylor’s scientific management. From 1909 to 1914, Taylor visited Cambridge every winter to deliver a series of lectures—inspirational discourses marred only by the habit he’d picked up on the shop floor of swearing at inappropriate moments. At the end of the day his “method” amounted to a set of exhortations: Think harder! Work smarter! Buy a stopwatch!"
"As we explore the continued origins of management theory, scientific or not we find that the thing that makes modern management theory so painful to read isn’t usually the dearth of reliable empirical data. It’s that maddening papal infallibility. Oh sure, there are a few pearls of insight, and one or two stories about hero-CEOs that can hook you like bad popcorn. But the rest is just inane," writes Stewart. Obviously, a few of us are in 100% complete agreement with Stewart's stance on the fragile notion that having an MBA places an individual at any more of an increased chance and rate of success when compared to those that do have an MBA.
At the end of the day, business and management comes down to a "people business." Does having the knowledge of an advance degree in business management, business analytics and managerial accounting really matter? Is that combination going to set a man or woman up for ultimate success in whichever industry they choose? This is precisely where this debate is centered. Having the skills by acquiring them through reading is not the same as acquiring the skills by doing.
12 Reasons Why to MBA
- MBA Gives One a Break from the Monotony
- MBA Presents a Chance for one to realize they understand little about the World
- One Makes Long-life Friends
- Chance to Connect with Executives and Great Team Players
- Understand the Global Economy
- Chance to Get Challenged by Professors and Peers
- Opportunity to Learn how to Manage People
- To Gain a Better Understanding of Financial and Risk Management
- To Learn Business Fundamentals and Frameworks
- Offers an Opportunity to learn more about Communication
- To Gain Knowledge of Business Strategies
- To Gain Credibility on Professional Reputation
8 Benefits of Getting MBA
- Increases Ones Earning Potential
- Maximization of Return on Income
- Increases Chances of Getting Job Promotions
- Opportunity to Switch Careers
- Ensures Personal Growth and Development
- Enjoying Job Security
- Learn Skills to Start Own Business
- Attain Leadership and Managerial Skills
