Millions of dollars in student debt has been created by people seeking an MBA degree. Business have paid out millions of dollars in salary and bonuses to people with MBAs. Schools churn out MBA graduates and make a fortune by convincing students that they need one to succeed. The MBA degree is its own industry, but the value of the degree itself to a business is nothing.
Why? The answer is best illustrated by a piece of advice a Harvard MBA gave to Jeff Bezos. Bezos was told, “You seem like a really nice guy, so don’t take this the wrong way, but you really need to sell to Barnes & Noble and get out now.”
Obviously, Bezos did not take the advice. Why would an MBA give such bad advice. MBA students are trained to look backward. They are, in essence, trained not to innovate. Take a look at the most innovative companies. None of them were founded by MBAs. Take a look at the companies that collapsed during the financial crisis. Most, if not all, were run by MBAs. Why did those companies crash? MBAs don’t look far enough into the future to truly innovate. They created financial products that were doomed to fail.
If you want your company to be innovative, leave the MBAs behind.
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