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Posted November 23rd, 2008 “lessons you wouldn’t learn in business school - 01″ Managing business is a piece of cake if you have an MBA. Or at least this is the perception. Personally speaking, I have nothing against MBAs in general or MBA graduates in particular. The thing is that the rise in the number of the so called “professional managers” is raising a number of questions in the circles of business. Those questions have been given a rise in the last period after the global economic crisis. This crisis which started in Aug 07 with the collapse of the sub-prime mortgage market has its effects so huge today more than a year after. Many people think that the roots of the crisis lie in bad decisions made by this new generation of business leaders equipped with a certificate and who lack what the CEO of General Electric calls “Domain knowledge”. circles-of-business-knowledge I always thought that one science is never isolated from other sciences. Marketing, business management, cultural studies, social studies, economics, politics, psychology are all related to each other. Philosophy is still the mother of all sciences being the systematic examination of basic concepts. Knowing how to manager a business is a circle trapped between two circles. 1. Environmental and cultural knowledge. Whether you run a local, national or a global business it is important to know the culture of the nations, the economical trends, the political history, etc. You also need to know the perception of things in the minds of people (which may vary from an area to another), the way people understand and handle things and the practice by which they do relevant things. And by the way, this is not only a study to be put in the business plan under the header “macro-environmental studies”. 1. Domain specific knowledge Each domain of business has its own specialties, technicalities and jargon. Sometimes those are even different from place to place. Most successful business leaders say that they have made their way from the bottom up and that’s what was most useful in their professional life. Lessons you wouldn’t learn in business schools: * Business management knowledge is not all you need to know to excel in your career. * If you take a management role in a company, try to spend some time at the bottom of the pyramid and in several parts of the supply chain.

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