FINANCIAL CRISIS: The problem of the heart

Some of the things that the writer mentioned I strongly agree with: Having an MBA does not guarantee you a good life, as much as not having an MBA is a sure ticket to a miserable life. These are tools, but as the workman, you are in control of your tools; if properly utilized, they may help you, but if misused, especially with 'power' tools, they only spell disaster.

Read on...

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Closing business schools is not the answer, perhaps relooking education is
Letter from Patrick Liew


I refer to “MBA schools, just shut them down” (March 28-29), and would like to commend the writer for a well-written but flawed article.

First, I am an MBA graduate and proud of the education I received in one of the top business schools, so I may be biased.

While it is true many of the top chief executive officers who are involved in the current financial crisis have an MBA, it is only a half-truth. There are also many other MBA graduates who, because of and not despite of their education, are running healthy companies that are contributing to the economy and society.

In addition, the financial crisis, just like any systemic failure, is the result of a variety of organisations and people from different educational backgrounds, professions, and experience.

MBA graduates cannot and do not have the authority, ability, capacity and all the flexibility to create a worldwide bane or boon.

If they do, then all the more, we should not shut business schools down but study their educational system to change and improve it.

Graduates from reputable universities who are professional will know that they need to enhance financial, environmental and social bottomlines to achieve sustainable success.

To do so, they cannot have an elitist attitude, be “mechanistic”, and do everything according to “a textbook”. There are few, if any, absolute systems or processes to run a business, just as there is no fixed way to write an article. I may be wrong and I am open to be corrected.

In my personal opinion, the financial crisis is caused by leaders. But, please, do not shut down leadership schools or ban leaders. I am referring to toxic leaders who are characterised by negative purposes, performance, partnerships and pursuits.

In the final analysis, the heart of the problem is the problem of the heart. If the heart of a leader or group of leaders, or anybody for that matter, is not for the betterment of community and society, we will continue to have crisis and problems. Perhaps we need to inject more moral and ethics training in the curriculum of educational institutions.


The writer is CEO of HSR Property Group.


From TODAY, Voices
Wednesday, 01-April-2009