Rethinking the MBA in the Age of Complexity
MBA Blog / 9th September 2024
In the 1980s, the primary motivation for doing an MBA was probably a desire to master marketing, as that was seen as the shortest career path to the C-suite. In the 1990s, it was a desire for well-paying jobs in finance that drove many to pursue an MBA (with the exception of marketers who were being promoted and realised that (oops!) they knew nothing about marketing). With the rise of the MBA as a foundational rite of passage for the “serious” (read ambitious) manager, the 2000s blurred the lines as finance and marketing, but increasingly entrepreneurship, equally became the prime motivators for pursuing a business degree.
After the global financial crisis, finance as a career lost much of its lustre; however, a deeper understanding of, and fluency in, corporate and project finance became even more important for anyone looking for a strategic role in any business.
Entering the Age of Complexity
Fast forward to today’s business reality in which we have fully entered the age of complexity. A new reality in which we don’t (and can’t) even understand the tech we use on a daily basis. A case in point, there is not one person on the planet that understands just the hardware in an iPhone, let alone the software, the interconnections (between hardware, software, apps and services) and the many layers of interoperability. Not even Apple can fathom it all – which is why no matter how much they test a new version of iOS, there are always bugs that need to be squashed (the reality is similar for Android users). This is the new normal, and we need to come to terms with it. If the 737 Max is grounded today, it is largely due to the fact that today, for the first time, the complexity of a plane is such that no amount of computer simulation and controlled flight testing can recreate all real-life circumstances a pilot can encounter. And despite this truth, Boeing or Apple cannot admit that complexity has gotten ahead of us because it would freak us all out. We still want to believe, and pardon the metaphor, that there is a pilot flying the plane.
Overcomplicated?!
This “overcomplicated” world, as described by Samuel Arbesman in his book of the same name, tries to reassure us. His main message is that technology is now at the limits of our comprehension, suchthat we need 1) to understand this and 2) take a new approach in our approach to this complexity. We should not fear technology, yet we should not revere it blindly either. Rather, Arbesman suggests we should take a double approach – that of the physicist (who looks for universal theories, rules and frameworks) as well as that of the biologist (who explores nature to understand and clarify the nature of phenomena). This overcomplicated world requires tech-aware leaders and managers who can effectively navigate, communicate and innovate as physicists (top-down) and biologists (bottom-up). To read the full article, click here!
