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Limitations Of Business Schools

Updated on March 3, 2015

What They Teach You At Business Schools.

When you are in a business school, you are basically taught the strategies needed to run a business successfully. This encompasses empowering your knowledge on marketing, finance, accounting, information systems, business law, operations management, economics etc. They also teach you entrepreneurship and business ethics. At a fundamental level, you are given the edge over others who lack the knowledge to run a business successfully. You thus know the language of business, are experienced to a certain degree through various case studies of successful corporations, have interned at a business, and thus stand a better chance at getting a job in a reputable firm upon graduation. However, does that ensure success for you in the long run? Does your course at the school ensure your ability to communicate, analyze, present and clinch business deals? Does the study help in transforming your basic YOU? After all, what is knowledge if it cannot be implemented efficiently and supportively?

What They Don't Teach You At Business Schools.

Does your study at a business school ensure that you are going to be a happier person and thus become more successful? Does it teach you to be compassionate, have a vision for your future, be appreciative and grateful, develop trust, and be patient? Does the course teach you to be mindful and thoughtful, and encourage you to follow your intuition? I am sure they don’t, since they are concerned more about the mechanical aspects of business entities rather than the human perspective. If a human approach is entwined with the precision of curriculum of running a business successfully, the sky can only be the limit for such organizations.

Make A Better YOU To Be Successful

As a starter, try to feel worthy of yourself. There will be pitfalls galore in your journey, but do not hate yourself for failing. This is also linked to your happiness, your will power to overcome, and your ability to bounce back with new vigor that is so essential for success. You can do that by talking with your best friend in the world, yourself. Share your inhibitions, your insecurities, and your shortcomings with your inner self and find a solution together. That will make a stronger YOU who will not be daunted by any adverse situation, and come out successful every time.

The next thing you can do is to count your blessings every morning. Take a stock of what you have every morning and be appreciative of them. This is surely going to make you feel content and happy, and even though you may have a difficult or insignificant territory to handle, you may find something interesting that will multiply your sales or a new opportunity to introduce products that may be lapped up by the market. Contentment and happiness will make you look at things with a different and innovative perspective, rather than being dull and introspective about what you don’t have.

Patience and trust are important foundations for ensuring success. The reverse of these are impatience and mistrust, which are sure shot guides to failure. Fear leads to impatience, and the chances of doing something wrong in rush are far greater than doing something logically and with a clear mind. You can exercise this by having your mind drive at a lesser gear speed during unfavorable situations, so that you can benefit from looking at the situation after weighing in the pros and cons. Trusting yourself to take the right decision also helps in developing confidence, and you are more likely to be successful in doing the right thing every time based on your experience and knowledge of those decisions.

Try and be quiet and at peace with yourself. This will give you more time to think and develop successful ideas for growing your business. If you can be intuitive as well, there is a lesser chance of your decision going astray. Always remember that positive results can only be achieved through positive thoughts. If you vision yourself to be successful, you become so. The reverse is equally true-outcomes that are negative are a result of negative inputs through thoughts. You are the sole director of the movie of your life. Try and direct the movie the right way, and focus on the right things happening instead of harping on the negative aspects.

Finally, if you are directing the movie, make yourself the hero as well. The script of the movie needs to be known by you beforehand, i.e., where you envision yourself to go. As an example, it is widely believed that the top 10 players in professional tennis play more or less the same type of game. What marks the top three is their vision to see themselves as the leaders in the game, and they live their vision by achieving that. Thus, if you are seeking a promotion, try and visualize yourself in the position. Things are going to happen in a way that will facilitate your promotion and put you in that position.

Tools For Success

So what do you need to have to be successful in the practical world, other than improving yourself as above? Things that are not taught at business schools? Here are some tips from the famed marketer McCormack of the sporting franchise empire IMG.

1. Go ahead and make friends. This will help you in developing contacts that will sustain you in adverse situations. Clients desire relations with friends, not enemies or unknown people.

2. Have in-depth knowledge of the product, the customer, the situation, the environment, and the features of the product that are intangible. For instance, when you order from Amazon, you are sure that the product will be delivered within the date stipulated in the contract. Amazon sells you peace of mind as well, which is an intangible feature of the product you are purchasing.

3. You need to ask yourself two reasons why you would buy something from yourself, or else why you would not, and come up with answers to them. If you are thinking this way, chances are the client may also be thinking similarly, and you need to have answers ready for them to convince them to buy.

4. Remember to renew or sign a contract when the situation is conducive and the client is happiest. Attempts at renewing a contract after it expires may not always be successful since the client may have assumed a position by then and may negotiate harder than when he was satisfied and happy with the service.

In addition to the above, McCormack propounds flexibility and openness to opportunity, determining the actual time taken for success of the venture, and not establishing round numbers during negotiations.

Other than what McCormack says, try and appreciate every moment and opportunity, help others achieve their goals and perhaps they may help you in achieving yours, and be as nimble as you possibly can-you shall be able to pivot faster if you are nimble and sharp.

I believe the above needs to be taught at every business school. However, even if they don't, you can always learn to apply them to yourself. You can start today by appreciating the best things you have contributed to your work, and feel the difference. You will feel more content and happy about yourself. You have already taken the first step towards your goal. It is now just a matter of time before you incorporate the wisdom of self-help books and the knowledge imparted through your own experiences into your outlook towards life, and be the success that you have visioned yourself to be. No one can hold you back. Remember the Nike ad? 'Just Do It!'

Do you feel business school grads are better at doing business than experienced and seasoned professionals without school exposure?

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