How do you prepare young people for a life in business? Good question. More basically, is it a problem that can be solved by giving them knowledge. Like the “science of management”. Well folks used to believe that business management was a science. But then again, some thought that law was also a science. They didn’t understand the difference between science and practice.
But around the mid 20th century, MBA programmes were pressured into making their curricula more academic and they did. And they started to give tenure to business professors. This gave birth to professors of business who had never been in business themselves. Odd, but accepted.
Is this the way it should stay? Well, probably not. Business acumen is gained by experience. And the experiences people gain are shaped by the institutions that they are connected with. It is logical, therefore, that these institutions should have a significant role in shaping what is to be learned. And they are getting that role.
But what about folks who are not employed in big institutions? Entrepreneurs. Where do they get their curriculum? No answer there. Stay tuned.