Punishing failure, best economics teaching
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Hello from London. Rewarding bad behaviour at work is demoralising and it is time to put a stop to it. We look forward to hearing your ideas on how to do this. Also, take a look at which schools were rated highly for their economics teaching.
Thank you for reading our Business School Briefing — Wai Kwen Chan and Andrew Jack.
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FT MBA 2022 ranking: best economics teaching
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University of Chicago: Booth, US
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Indian Institute of Management Ahmedabad, India
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SDA Bocconi School of Management, Italy
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University of Rochester: Simon Business School, US
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Melbourne Business School, Australia
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Peking University: Guanghua, China
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Indian Institute of Management Calcutta, India
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Rotterdam School of Management, Erasmus University, Netherlands
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Washington University: Olin, US
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Imperial College Business School, UK
The top schools for economics teaching as rated by alumni who responded to a survey for the FT MBA 2022 ranking.
Andrew Hill’s management challenge
Rewards for failure are poisonous, whether they are bonuses for underperforming chief executives or honours for unimpressive politicians. As I’ve written this week, they demoralise staff and deter healthy competition for genuine prizes.
My management challenge this week is to suggest some alternative ways of adjusting incentives so failure goes unrewarded and, perhaps even, is properly punished. I’ve suggested a couple of options in my column, but send your ideas to [email protected].
I’ve had a deluge of emails about my column taking organisations to task for not catering to older customers. Alison Chappell responded to last week’s challenge after discussing it with her 88-year-old mother-in-law. Paraphrasing her suggestions for businesses, they are:
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“accept that language conventions are different” – check your spelling, grammar and tone;
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“bear eyesight and accessibility issues in mind”;
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“remember that being old is the only thing that all older people have in common”;
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“integrate older people naturally into your advertising and marketing activities”, instead of creating “special, patronising campaigns which scream ‘for old people!’”.
In further reading, there is plenty to choose from that directly relates to the war in Ukraine, this essay for Aeon by Sudhir Chella Rajan seemed pertinent. He analyses grant (as distinct from petty) corruption. “Societal degeneration – that is to say, corruption – is connected to small coteries that gain windfall payments and maintain networks of mutual favours and obligations that bypass rules of equal treatment and other forms of fairness. Grand corruption can then be seen as a multiplicity of societal syndromes involving elite network power leading to the debasement of moral order,” he writes.
GMAC 2022 report: The Value of Graduate Management Education
Is it worth going to business school? The latest GMAC study involving 3,600 graduates shows that many MBA or business masters alumni reported strong career advancement and financial gains.
More men than women pursued a business degree for entrepreneurship skills or business ownership. In the US, under-represented minorities are more motivated to study business to boost their impact on communities.
Diversity in business schools
While diversity in business schools is improving, gender parity and ethnic diversity are still lagging, says a white paper from Cambridge Judge Business School. It examines diversity at the top 22 UK and US schools and puts forward recommendations on how to respond.
Join a hybrid fireside chat and networking event on diversity in business on International Women’s Day, March 8 from 6 pm UK time: please register here.
Data line: Which MBA subjects are taught well?
General management, corporate strategy, entrepreneurship, organisational behaviour and finance are important for MBA alumni, write Sam Stephens and Leo Cremonezi. These subjects are taught well by ranked schools in the Global MBA ranking of 2022, say graduates who completed their degree in 2018. However, the teaching of statistics and quantitative methods needed improvement.
Further analysis of FT’s MBA 2022 ranking can be found here.
Work and careers round-up
Senior women bring experience and resilience to corporate leadership
Many more companies are supporting and promoting female professionals in their forties and fifties.
Boomerang employees: returning with new skills and experience
Going back to a previous employer offers many benefits — but there are risks.
How do I pivot my career from financial services to green energy? Jonathan Black, Oxford university’s careers director, gives his advice to one of our readers.
Top reads in business schools
Russia mobilises for assault on Kyiv as its troops storm Ukraine Explosions heard in capital as Zelensky claims ‘saboteurs’ have entered city to assassinate him.
Ukraine invasion news from February 24: Russian forces storm Ukraine, civilians flee Kyiv, west unveils new sanctions.
Zelensky urges Ukrainians to resist as Russian forces battle for Kyiv Explosions and air raid sirens in capital as Putin’s troops move towards Ukraine’s two biggest cities.
How up to date is your news knowledge?
Test yourself with these 10 questions.
Back issues
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Thank you for reading. Please send your recommendations and feedback to [email protected].
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