There’s an interesting article in the NY Times Business Section today entitled “Is it Time to Retrain Business Schools?” which says, in part:
“Some employers and recruiters also question the value of an M.B.A., and are telling young people they can get better training on the job than in business school. A growing number are setting up programs to help employees develop skills in-house. On many campuses, changes are under way in courses and curriculums. Some schools are heightening their focus on long-term thinking or leadership, and many are adding seminars to address the economic crisis. Jay O. Light, the dean of Harvard Business School, argues that there have been imbalances both on campuses and in the economy. “We lived through an enormous extended period of financial good times, and people became less focused on risks and risk management and more focused on making money,” he said. “We need to move that focus back toward the center.” ‘How about it, how close to the center are you, is your organization? By this I mean:
- Are you, the owner, intent on personally touching your clients knowing that they are the backbone of your survival? We’re not talking here about Citibank, we’re talking about a good remodeler desirous of maintaining a good reputation as well as a sufficient profit margin through this downturn.
- Are you, as owner, personally responsible for a cash flow projection which protects the company during the wild swings inevitable in this economy knowing that cash is the primary key to long term success?
- Are you working on a budget for a BAG (big, audacious goal – see CEO Tools for more on this subject) as well as a workable budget which allows the company to make money with 30 – 50% less knowing that net profit is the secondary key to success over the long term?
- Are you focused on employee satisfaction knowing that it contributes heavily to customer satisfaction?
- Are you, as owned, intent on maintaining the richness of your personal life knowing that it contributes substantially to your abililty to deal gracefully with changing times?
- And finally, are you a true entrepreneur, knowing that “if first you don’t succeed, try try again”?
Rate yourself on a scale of 1 to 5 (5 being best) in each of these categories. Then you’ll know what to work on to put you closer to the center!