BusinessBecause sits down with Sangeet Chowfla, GMAC CEO, and Bill Boulding, new GMAC chair and dean of Duke Fuqua, to discuss the hard-hitting trends shaping business education
Mistrust is still fired at Wall Street since the crash, which leads Bill to ask what we can do to broadly rebuild the reputation of the world of business as a positive force in society that improves lives?
Must Be Altruistic
Rebuilding begins with business schools and their graduates and ends with the corporations they either enter or build themselves.
The admissions process is going to have to accommodate more than a candidate’s IQ. Last year, BusinessBecause published an article looking at the importance of EQ—emotional intelligence—in the overall application process.
Now, say Bill and Sangeet, there is a third layer—DQ, or decency quotient.
“The current discourse is around hateful rhetoric, and an absence of decency,” laments Bill. “We should and could treat each other with respect and compassion.”
You do, of course, still need the smarts. But, a combination of strong IQ, EQ, and DQ enables leaders to bring the best out of those around them.
People like Apple CEO, Tim Cook, and co-founder of the Bill and Melinda Gates Foundation, Melinda Gates—both of whom Bill taught when they were students at Fuqua School of Business—may have been ethically-minded, but Fuqua had a responsibility to help mold them into the leaders they are today.
Indeed, business schools will employ their own mechanisms to assess EQ and DQ, Bill and Sangeet say, depending on how important they see each trait. But, for the industry to repair its reputation, schools will need to broadly embrace this when screening candidates.
GMAC’s role is less centered on adapting the GMAT assessment to tap into EQ and DQ, but their data can help reveal candidates’ motives for going to business school.
“In the last couple of years, we’ve seen a shift away from the traditional destination industries,” Sangeet says of early screened candidates, “towards social enterprise, technology, manufacturing, and products and services.”
Bill adds that Fuqua School of Business has seen an increase in candidates coming from non-traditional backgrounds. They’re coming from the US Peace Corps, other nonprofits, and even military service.
Then, after graduating, they are transitioning into sectors like financial services. “I’m very happy about putting people into a sector that needs people who can be trusted, and who understand the concept of service,” he says.
Bill explains that he’s also seen many MBA students coming in from private equity, or investment banking, and going out the other side into social enterprise and entrepreneurship.
People entering these jobs with strong EQ and DQ are also giving themselves an added layer of protection in terms of employment. Empathy, morality, and decency are traits that are harder to replicate in robots.
“The reason people are scared of the future is that it seems to be more about replacing humans rather than focusing on the human interface,” says Bill. “What is the human difference; the human values that we retain? We need to harness tech rather than let tech harness us.”
Tech To The Future
Realizing potential is the crux of business school. That is the message that needs to be translated in as human a way as possible—potential and opportunity are not exclusive to the elite.
“We need to effectively tell the story and value of GME broadly,” concludes Sangeet, “so students around the world understand their options.
“It has to be clear that we can build a managerial group of people who can unlock innovation, effectively manage human resources, [and deal with] environmental and ethical concerns—that potential has to be realized!”
Fretting about the future is futile. Adapting to the demands of technology and harnessing its potential to create new jobs, rather than shying away from change, will keep the labor force invigorated.
Bill and Sangeet clearly see the responsibility of GME to ensure the next generation of workers is prepared for that. Business schools need a proactive approach to catch and cultivate human potential before it falls out of the funnel unrefined. Are they up for it? They have to be.
Student Reviews
Duke University Fuqua School of Business
Supportive atmosphere
The professors at Duke university exhibit exceptional commitment to the success and well-being of their students by ensuring their academic growth and fostering a supportive social atmosphere. Moreover, the entire community is recognized for its amicability and inclusiveness.
Diversity
The people or the students are without a doubt Duke's greatest asset. While all students are driven to succeed, they are also enthusiastic about a variety of hobbies. You run across a huge lot of diversity. It is the ideal example of a school with well-rounded students and the ideal balance of campus life in a metropolis.
Happy to school
All I could ever hope for is Duke University. That really epitomizes the "work hard, play hard" philosophy that elite colleges frequently pursue. Even though you'll have a lot of schooling to complete over the week, it's simple to keep focused because all of your friends are putting in similar amounts of effort. Many events taking place on and around campus on the weekends provide a great way to unwind. The combination of demanding academics and traditional college fun strikes the perfect balance.
Good schooling
Living, eating, learning, and developing who you want to be as an adult are all fantastic at Duke. I participated in student athletics, and I couldn't have asked for a better interaction with the faculty and other students. I appreciate all of the help I get from the Duke community more than anything. Furthermore, the teachers take the time to get to know you, and the lectures are diverse and demanding (if you do the same). I'd give it a 10 out of 10.
Beautiful School, Nice Classes
DU remains one the greatest and best universities that I have ever stepped in. The school is beautiful and neat. The classes are spacious and also very nice. I enjoyed attending my Lectures in those lecture halls. I also loved the Lecturers because of the good work they did. The university also has very good dorms that are given to students on first come first serve basis and they are affordable
Amazing experience
I received my B.S. in Biology and B.A. in Global Health with a minor in Chemistry from Duke University. I was able to grow as a student, scientist, and global health advocate with the help of my friends, professors, and other mentors I met along the way. A lot to learn if you look and ask, a great place to learn for those who want to learn.
whirlwind of growth and change
An amazing 2 years, with covid and everything else happening Duke has been a place of growth for me. The courses , classes were one of a kind, online and on campus. But the valuable lessons learned in the classes are irreplicable. The students are amazing here, so much diversity , I had no problem fitting in. The teachers are down right brilliant and so helpful. Don't be afraid to ask them anything. Graduated with my MBA with Duke and now my future awaits.
One of the best for Business students
Graduated with an MBA. The classes were very insightful and engaging. The staff are very easy to deal with. The teachers and students, are truly amazing people. Grateful to all the people I've met along the way at Duke. I've learnt a great deal that will help me in my future endeavors. The campus itself is a marvel, it is beautiful.
The university campus is awesome
I graduated with a masters degree in Religious Studies from Duke University. One thing I really liked about the university is its huge campus. It is spread in a large area with a lot of greenery and also have the facilities of reading rooms for single person also. My department building was very well taken care of. The library is immensely populated with books for all your needs. The faculty is very nice to students. The classes are equipped with latest technology to cater the needs of students. The University also provides room rentals for international students. They are very well maintained and priority is given to the International students for a comfortable stay there. There are weekly events conducted by the University as well as Student clubs for the entertainment of students. Anybody can take part in them and show their talents. I enjoyed my degree and I graduated in 2021 and was very happy that I had graduated from a reputed University.
