By Duff McDonald
A riveting and well timed highbrow historical past of 1 of our most vital capitalist associations, Harvard company tuition, from the bestselling writer of The Firm.
With The Firm, monetary journalist Duff McDonald pulled again the curtain on consulting sizeable McKinsey & corporation. In The Golden Passport, he finds the internal workings of a novel nexus of strength, ambition, and effect: Harvard company institution.
Harvard college occupies a special position within the public’s mind's eye, yet HBS has arguably eclipsed its dad or mum by way of its effect on smooth society. A Harvard measure promises recognize. An HBS measure is, because the New York Times proclaimed in 1978, "the golden passport to lifestyles within the higher class." these maintaining Harvard MBAs are near-guaranteed front into Western capitalism’s strongest realm—the nook office.
Most humans have a imprecise wisdom of the facility of the HBS community, yet few comprehend the dynamics that experience made HBS an indestructible and strong strength for nearly a century. As McDonald explores those dynamics, he additionally unearths how, regardless of HBS’s huge, immense good fortune, it has failed with admire to the said objective of its founders: "the multiplication of fellows who will deal with their present enterprise difficulties in socially confident ways." whereas HBS graduates are usually excellent at no matter what they do, that's hardly the doing of good.
In addition to teasing out the essence of this particular, if now not inevitably "secret" membership, McDonald explores vital questions: Has the varsity failed at achieving the pursuits it set for itself? And is HBS as a result complicit within the ethical failings of Western capitalism? At a time of mentioned fiscal disparity and political unrest, this hard-hitting but reasonable portrait deals a much-needed examine an establishment that has a profound impression at the form of our society and all our lives.
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Extra info for The Golden Passport: Harvard Business School, the Limits of Capitalism, and the Moral Failure of the MBA Elite
Sample text
While there are many ways to describe HBS, no one has ever called its people outsiders. And while they produce a lot of corporate leaders, they are usually not of the revolutionary sort. They’re conservative by nature, Company Men at heart, and that constrains their ability to truly lead in times of change. “Certain things about modern corporate society are unseemly and suboptimal,” says Gerald, “but HBS could play a role in determining the remedy. ” He then proposes another way to look at it: “HBS professor Clayton Christensen talks about resources, priorities, and processes.
Its graduates tend to be very good at whatever they do, but that is rarely the doing of good, Casey Gerald and a handful of other outliers notwithstanding. The fact that the school worked with Gerald’s MBAs Across America to design a course that put MBAs to work in small communities—and which was taught for the first time in September 2015—is a start, but it’s no more than that. Of course, HBS isn’t the only business school that promotes certain ideas or suffers from certain hypocrisies, but as the largest business school in the United States, and long one of its most influential, it must bear the burden of responsibility that comes along with success.
1 The Experimenters: Charles Eliot and Abbott Lawrence Lowell Harvard Business School deserves recognition for a number of firsts. It was the first business school to require an undergraduate college degree for admission. It was the first to focus on the role of the general administrator rather than on narrow technical specialties. It was the first to utilize the case method as a primary means of instruction. The list goes on. It was the first business school to engage in the systematic collection and analysis of industry data.