Mason positioned to help businesses meet current challenges

June 5th, 2009 by Jon Krapfl

Business school graduates and the programs that produce them — especially MBAs – have been coming in for some heavy criticism in recent months.

The shortsighted, greedy behavior of a number of members of Wall Street have had an effect on public perception, and some questioning of what is being turned out by business schools.  It seems inappropriate to blame an entire group for the inappropriate behavior of a few, but recent events have given all business schools reason to analyze what they are doing and what the resultant effects on the culture are.  

With this background in mind, I picked up a copy of Fareed Zakaria’s latest book, The Post American World.  Zakaria is an editor for Newsweek, a columnist for the Washington Post, and host of a weekly program focused on international relations.  I nearly always find him provocative, interesting, and thoughtful in his comments on world affairs.

In The Post American World,  Zakaria states that the US is undergoing a sea change, entering a new world which it can no longer dominate or overwhelm as it has in the past.  His message is not that the US is failing, but that other nations are rising – rapidly.  As a consequence, America will find it necessary to change its view of the world and its place in it. 

 He makes a number of suggestions about what the US cannot do and what it must do to continue to maintain its place among the leading nations of the world.  This is not the place to cover the myriad analyses and suggestions that Zakaria makes.  Rather, we can cut to the chase and say that Zakaria identifies one area where America can still dominate and where it can continue to have a huge impact.  That area is in the world of ideas.

If this is true, then William & Mary’s Mason School of Business is uniquely positioned to support American business in meeting the challenge of our times.  William & Mary requires all undergraduates to complete a liberal arts degree, even the Bachelor of Business Administration students.  Our individualized plan of study results in nearly half of our students completing a double major.

At both the undergraduate and graduate levels, there is virtually none of the ultra-large classes dominated by lectures where students are tested in ways that lend themselves to machine scoring of a mid-term and a final.  At William and Mary classes tend to be small, teaching tends to be interactive requiring students to work with the material they have read, and tests tend to be written and requiring analysis and defense of positions taken.

Furthermore, students are exposed to live business experiences, to the actual conduct of business research, and  to experienced business people who provide a useful and practical perspective on the use of what is learned in the classroom.

In short, our personalized, experience based model of education is not only revolutionary, but it is also uniquely appropriate for teaching students to think.  Our programs provide  an excellent preparation for entering a work world in which the US needs to lead with ideas and ways to implement them.

Reading Zakaria’s book not only confirms for me that we are on the right path, but makes me want to push even harder to fully exploit the potential of our personalized experience based model.

Are B-Schools to Blame? (Part 2)

May 14th, 2009 by James Olver

In my previous blog post, I argued that while a major change in values is rare, we are all vulnerable to gradual – and I’d add, largely unnoticed – changes in our judgment about morally acceptable behavior.

The reason is that we are social beings, and immersion in the enacted norms and values of any social group can ultimately have either an edifying or corrosive effect on what we do, and in what we consider OK to do. It happens at school.  It happens in the workplace.  And there’s a feedback loop: what we believe informs what we do, but there’s also overwhelming evidence that what we do also affects what we believe.

There are a couple of powerful psychological forces that shed light on this. Both are described in Influence: Science and Practice, a terrific book by social psychologist Robert Cialdini

The first force is the remarkable power of “social proof.” We often gauge the correctness or acceptability of a behavior by the degree to which we see others perform it. If “everyone is doing it,” it must be OK… right? The potency of social proof can be seen in all sorts of “herd” behaviors, ranging from teen “sexting” (circulating explicit photos or video of themselves via cell phone), to Enron traders bragging about ripping off “Grandma Millie,” to the orderly mass suicides of 910 souls in Jonestown, Guyana in 1978.

Relying on social proof is a natural, often automatic response that is abetted when the environment is ambiguous. In the realm of moral lapses, we’re particularly vulnerable in the gray areas. But how do you explain the folks at Enron who found themselves way beyond the gray areas?

That takes the one-two punch of another psychological force. Once we commit to a course of action, our innate desire to see ourselves as consistent leads us to look for further justification for our behavior. We’ve committed to a path – sometimes, a slippery one – and now we’re figuring out why it was OK.

Worse, there’s compelling evidence that we interpret who we are by what we see ourselves do.  In other words, our behavior can ultimately change our attitudes, beliefs and values. The more effortful that first step – and the more public – the greater the impact on our self-perception. We started by trying to boost revenues a little. Soon, abetted by others around us responding to the same psychological forces, we’re all joking about ripping off Grandma Millie.

To my mind, the challenge in the workplace is to consciously foster an environment that inspires us to pursue our noblest instincts. Social proof and commitment/consistency can have a positive as well as negative impact on behavior, and ultimately, attitudes, belief, and values.

As individuals, the challenge is to “rust-proof” ourselves against morally corrosive environments. The principles of social proof and commitment & consistency work precisely because they are so innate and automatic. One way to short-circuit these automatic responses is to sensitize ourselves to their impact, and this is a place where business schools can play a useful role. Case studies, role plays, and other exercises that force us to bring our largely automatic assumptions and behaviors to the surface — along with our often unvoiced beliefs and values — can help “rust-proof” our values against corrosive influences.