How times change. Writing in 2005, Eric Cornuel argued that “ in the future the legitimacy of business schools will no longer be questioned”. He developed the argument to say that that Business Schools had become “legitimised parts of society” and that “their role was clear”. (Cornuel, 2005). Just 6 years later neither claim would seem very robust or accurate. For example, The New York Times printed several letters on March 3, 2009, reacting to a news story about the pressure these trying economic times have exerted on the teaching of the humanities. The letter writers argued that “by studying the arts, cultural history, literature, philosophy, and religion”, individuals develop their powers of “critical thinking and moral reasoning”. The letters continued to argue that Business schools rarely develop those skills, which is allegedly why MBAs made the short-sighted and self-serving decisions that resulted in the current financial crisis and other organizational crashes (e.g.Enron, Parmalat, WorldCom).
Warwick Research Archives Portal Repository (http://wrap.warwick.ac.uk/36092/1/WRAP_Wilson_McKiernan_and_Wilson_The_Business_of_Business_Schools.pdf)