The B-School business is in a bit of a crisis ! Globally, MBA applications are falling [ WSJ ] and in India many B-Schools, especially those run by slightly shady operators, are shutting down [ ToI ]. An obvious reason for this state of affairs is that, at least in India, the AICTE has created an environment where only shady people with little interest in education but with bags of money are allowed to build and operate B-Schools. Given the current state of political leadership in the country it is futile to expect any kind of policy support and so it is up to the B-School community to figure a way out of this rut. Should we revamp the curriculum ? To make it more relevant ? Datar in Rethinking the MBA has identified that MBA programs should focus on leadership skills, creative and critical thinking. In an earlier post I have explored the possibility of replacing the functional approach in the MBA program [ Marketing / Finance / Operations / HR ] with a more ho...