Why do business schools teach dead ideas?Posted: November 5, 2011
Fast Company has an article on Why do b-schools teach the 4ps of marketing when three are dead?
This raises a broader question about a whole host of concepts that are seemingly “dead” but still taught at business schools. For example, should we still be teaching Porter’s five forces, industry analysis? Or, Ezra Zuckerman raises the question about why CAPM is still taught (in response to Mike’s post at orgtheory.net).
Here are some reasons why dead ideas might still be taught at business schools:
- naivete – professors not admitting or knowing that the ideas indeed are dead.
- it’s in the textbook.
- perhaps a legitimate effort to teach the history of the field, including dead ideas.
- so students don’t make the mistakes implied by dead ideas and models.