If you watched Martin Scorsese's Oscar nominated film, “The Wolf of Wall Street,” you become aware from the outset that Jordan Belfort is an aggressive, macho figure that barrels towards his end goals with a loud attitude and little sensitivity to others. Film critics called Mr. Belfort’s lifestyle fearless and let’s be honest, this archetype is widely admired in business circles, even taught as an adopted mindset in America’s leading business schools. The business landscape has changed since the 1990’s, when Jordan Belfort was the king of Wall Street and we now live in a global world, a web that requires more than just bullheaded tactics. These days, arrogance in the business world is no longer a job requirement for an MBA.
The fact is, it can be highly competitive to be accepted into a business school and from there, an MBA’s primary goal is to succeed - sometimes at any cost. When millions of dollars are at stake, a business professional has to stand their position, protecting a company’s interests and yielding enormous profits. This mentality translates into arrogant, callous MBA graduates who think they are the best of the best and the center of the universe. These out-of-date business practices are sorely at odds with today’s economic climate. A global company may have a head office in San Francisco, a factory in China, and a development team in Germany, all of which calls for leaders who are collaborative, culturally aware, and respectful.
Besides the internal makeup of a company, the influencers in the business arena have also changed. An MBA will wrestle with social enterprises, political and environmental factors, non-profit foundations, and the evolving needs of of society, which are difficult to contain nowadays. What’s required is an injection of “soft skills”. Instead of aggression, MBAs now need to practice diplomacy. Instead of impatience, MBAs are now exercising humility. The ultimate question is why are the two so incongruous? If we need softer business leaders, why aren’t MBA schools producing them?
The answer lies at the management level. Business schools need to drop the outmoded mentality of the 80’s and 90’s. They also need to be more selective with MBA candidates, by choosing top managers based on emotional intelligence, not simply intellectual intelligence or show of confidence. Most of all, the right tools need to be given to MBA students to practice and excel at the softer skills. Faculty should be positively reinforcing these skills to support their students toward success.
An MBA is a weighty investment, so in order to build tomorrow's leaders, we need to take the arrogance out of the MBA programs and bring in what the world needs now. If we did, the Jordan Belforts of Wall Street would be yesterday’s news and business can evolve with the rest of the world.
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