The Future of Business Schools in a Multi-Polar World

Professor Thomas Durand is Director of the Department of Management and Innovation at Le Cnam, Paris and a proponent of the view that business schools suffer from an over-reliance on research publication in peer-reviewed journals as an indicator of institutional and faculty quality.

His argument is that the competition between business schools supports quality indicators including rankings, accreditation processes and journal rankings that over-emphasise research publication at the expense of other equally or more valuable activities including teaching, non-research publications, case studies and so on.

Thomas calls for European business schools to make a co-ordinated attempt to counter this at a regional level by acting together to promote the impact of teaching, case writing and other forms of publication as valid expressions of quality.

This argument is one with which we are all familiar and which we support. I speak often with case authors who feel overlooked and undervalued in comparison with colleagues publishing in starred journals. Yet we know from our work in case distribution that a case may be repeatedly adopted by many schools worldwide. Isn't this a form of peer review? What better mark of quality can there be than a decision to select a case around which to build a course?

We have a huge amount of data showing the uptake and continuing use of cases around the world and would be happy to help any author seeking evidence of their impact on global teaching and executive education.

The history of case studies in the UK

Len Rogers has been in touch to say that it is almost 50 years since he was one of the pioneers of the use of the business case study in the UK when chief examiner to the Institute of Marketing. This is his story.

I'm publishing it in Len's own words to encourage other case users with stories to tell to get in touch. I'd be delighted to hear from you.

Len writes:

The ‘open book’ examination was introduced for the final diploma exam and Ted Jenner and I used to meet twice a year in the Charing Cross Hotel, to select a Harvard Business School case study which was circulated to examinees one month before the examination.

To counter the inevitable action of examinees seeking professional help, I prepared an examination paper that progressed the case for a further month or so providing additional quantitative and qualitative data – extended or contracted operations, increased or decreased sales, reductions or additions in staff, once, even the receipt of a hostile bid. The examination paper did not negate the work that candidates had done on the case during the month but it meant that a pre-prepared analysis needed considerable modification in the light of the new information received in the examination room. It was highly successful and I prepared two cases a year for the next eleven years.

I resurrected the first of those cases used in September 1969 -- Medway Appliances Ltd – and think that others might be interested to receive it. Some of the problems we had in the 60s are still relevant today; others have changed out of all recognition.

I'm now working on transposing Owen & Davies, the case I wrote for the 1972 September exam, which concerns two executives meeting in the Crown Hotel, Bangor North Wales, both recently having been made redundant. One is an electrical engineer and the other with an honours degree in chemistry from Nottingham. They each have an idea of starting on their own and over drinks explain their proposals – one to market an electronic organ and the other to distribute Canadian fruit juice concentrates.

When each has finished, they prefer the proposal of the other and decide to call on the services of a marketing consultant – the examinee. Len remembers chucking a few rocks in the pool to muddy the water with some updated information in the examination room but the case was highly successful and case studiers learned a little more about contemporary problems of starting a business from scratch. Here again, the case history is a very useful medium because the crucial element in all case studies is the environment. A case history is a case study but a case study is not necessarily a case history―its environment conditions its analysis and synthesis.

If you would like a copy of Len's Owen & Davies case, drop me a line.

HeadbanginteethshakinHeavyMetal Management

My friend, jazz guitarist Charles Alexander recently sang the praises of tour managers who work with the various heavy metal bands like Iron maiden and Judas Priest he occasionally bumps into at airports around the world. Touring is tough and Charles had a great deal of respect for the stamina and resilience of the bands themselves but he was was particularly complimentary about the logistical skills of their tour managers.
It seems he may be on to something, for now, hot on the heels of that conversation, comes news of a book that claims to show how heavy metal can rescue your business.  Par Jorgen Parson and Hans-Olov Oberg, a couple of Swedes with a shared love of business and high-octane heavy metal have written a book combining their business experience with a love of heavy metal to create,... well, look, just read about it here back in black

Of course ecch also has a love of music and carries a range of cases with musical themes.  Professor Maury Peiperl tackled conducting an orchestra to discover how to lead a group of professionals who know more than you do  while as for Lady Gaga .....

On being the subject of a case study

We often talk about how authors benefit from the experience and research opportunities that come from  writing a case.  And later students benefit in the classroom.  But what about the people who are the subjects of a case study?  How do they feel? I can guess at the possible impact and disruption but might they also benefit?

Kanika Gupta of the SoJo Blog writes very positively about the experience first of being interviewed as the case is written and then of being present as the case is taught. Kanika enjoyed it so much she can't wait for the B case!

Kanika's blog supports what we found when interviewing for our own feature on cases in companies. Seems the case method brings benefit to everyone in a virtuous circle enclosing authors, subjects, teachers, students and researchers.

What do you think? Have you experience you would like to share?

Using video in the business classroom

I'm a trustee of the British Universities Film and Video Council BUFVC promotes the production, study and use of moving images and sound and related media in higher education and research.  We combined our December AGM with an information event. Get Creative - raising awareness of moving image & sound content in your institution was packed with excellent presentations from librarians, media resource staff and academics.  All enthusiastic, knowledgeable and committed people, sharing their real experience of the impact of resources on improving learning for students. Of all the presentations, one in particular by Linda Irish and Hilary Pooley of the University of Manchester caught my attention as it used a recorded clip of a business academic talking about how she used the Simpsons episode Visit to Itchy and Scratchy Land to teach 'pester power'. Dr Anna Goatman of Manchester University Business School is the academic interviewed and I contacted her to find out more.

Anna uses some short cases or vignettes in her teaching, around a couple of pages long, but it's her use of video that she finds particularly exciting and given the interest in using video and other media in case teaching I thought it would be interesting to share Anna's thoughts:

"I have used a number of different television programmes to support 'case style' teaching.  For example, I've used a couple of Alex Reily's programmes (Britain's Really Disgusting Foods and Secrets of the Superbrands) as the basis for discussions on marketing ethics and new product development.  I've also used programmes such as I'm running Sainsbury's, Mary Queen of Shops, Inside John Lewis, Business Nightmares, The British at Work,  Made in Britain, The Tube and Coppers as the basis for seminar and workshop discussions and tasks (as well as for examples in lectures).

I have found that often the advantage of video over written material is that students can watch the footage together in the room at the same time and then have a discussion or undertake a task.  It seems to bring things to life more than a written case alone, and for undergraduate students who often have little or no work experience, it can help them understand the context more easily.  I have also found that the quality of material from national broadcasters tends to be far higher than material made specifically for educational purposes, and this does seem to matter to the students.

There are also times when I have tried to combine a short written case with video material.  For example, I teach a final year elective on Services Marketing and part of the course looks at public sector services, so students have a short written case to look at how service quality is measured in public sector services, but I have combined this with material from other sources such videos from BBC news programmes, and even comedy clips from programmes such as 10 o'clock live which often has a different perspective on current affairs.  Sometimes this material is all provided to students in a lecture or seminar environment, but I have also used the VLE to provide additional material, or if I have used a video clip in a lecture or seminar, I may make the whole programme available to students online, so they can revisit it and gain a deeper understanding."

All of the off-air recordings that Anna uses are available to UK educational institutions under an initiative called Box of Broadcasts.  BoB is a fantastic resource for UK teachers, making it simple and cheap to access the entire recorded output of all UK broadcasters for use in the classroom.  Follow the link to get full details.

I have two questions.  Firstly, given how easy it is to use this resource and the benefits it brings to teaching, why are media resources not used more often?   Secondly, for copyright reasons the service is able to operate only within the UK - are similar services available elsewhere?

Technology, innovation and how to avoid snake oil

 The deadline for submitting entries to our award for Innovation in Case Teaching is approaching fast and I know that many of the entries will focus on the adoption of new technologies.  There is no doubting that technology has the potential to transform education for the better when it is combined with effective teaching practices and many schools are dedicating considerable time and resources to the question of how best to respond to the opportunities it offers. 

So here are a couple of articles you may be interested in reading.  

The first is Decoding Learning a new report from Nesta - the UK's innovation foundation.  Nesta argues that too often technologies have been imported into classrooms without the necessary changes to teacher practice and school organisation to support them.   



From tablets to voting pods, whiteboards and games, individual technologies have been sold to schools in the promise of enhanced learning but with no real understanding of how to use them or their potential benefits. Millions of pounds is being spent on shiny new equipment that is only ever toyed before being left to gather dust in school cupboards with almost zero impact on student learning.



Geoff Mulgan, chief executive of Nesta, says "A tablet replacing an exercise book is not innovation - it's just a different way to make notes."  

Education technology should be designed around how students learn. Technology used to support existing teaching practices, rather than transforming teaching and learning, is an opportunity wasted.

  

So what strengths of digital education should teachers build on? 

Nesta identifies five: assessment tools; learning through making; techniques for practising; taking learning outside the classroom and social learning.  

The report demands evidence of what things work and calls for a move from 'plug and play' to 'think and link' - where tools are used with lots of other types of resources.

Another useful contribution to the debate can be found in the December edition of the Journal of Management Education  An Examination of the Effectiveness of Case Method teaching Online: Does the Technology Matter?  by Sharon Watson and Jann Marie Sutton

Watson and Sutton examine the effectiveness of the case method when teaching online and how it is affected by the choice of technology,  and particularly on how the decision to use either synchronous or asynchronous communication affects student learning and satisfaction. 

Their findings suggest that engagement and interaction with the instructor and fellow students is what most determines student satisfaction and perceived learning in online courses.

Both papers suggest that the best way to take full advantage of technology is to start by really understanding the characteristics of each technology and medium and asking how best to use them to deliver learning objectives.  Each technology, each medium, each approach will be stronger or weaker in one area or another.  Let's avoid being dazzled by technological bling.

I'm looking forward to reading those Innovation in Case Teaching Submissions. 

Is the case method passé?

Is the MBA Case Method Passé? asks the the current edition of Forbes.

The question is a good one and deserves more than the case proponent's (my) insolent defence that any identifiable weakness in the case method is actually, were the critic only insightful enough to realise, a strength.  Thus, judo-like, we overcome our opponents by using their own strength to unbalance them.

The pressure of too many cases results in naive and superficial analysis?  It's how the world works.  We all take decisions based on too little time and understanding.   


The data used for case analysis are limited to what is supplied? So? We're talking exercising technique and classic management skills here.  The facts may change but the fundamentals go on for ever.  We're not actually running the company, you know, it's a classroom. 


There is no 'right' answer.  Ain't that the truth.  
 

And so on until either the opponent or the defender grows to weary or bored to continue the argument, leaving the dojo, honour intact, to fight another day.

But I want to raise not a defence but a variation on the theme raised by Ronald Yeaple in the Forbes article.  Which is that the alternatives he proposes and illustrates in his own teaching practice are themselves developments, improvements, improvisations on the theme of the case method.  That what he is proposing is not that the case method is passé but that the prescriptive approach to how the method is captured and expressed (it must be written like this, taught like this, and so on) constrains innovation and restricts the full expression of its strengths in an age of universal, portable access to digital information and communication.

The question is, what do we talk about when we talk about cases?  Is the classic case format the only possible expression of the ideal?  If we don't draw a distinction between the method itself (the approach, the pedagogy) and the means by which the ideal is captured and expressed (the written case, the physical classroom) then I think there is a real threat that the method will become more easily dismissible by students coming to it for the first time, "- leaving them wondering what are the takeaways from the exercise."    

This is something that concerns us at ecch, which is why we've added to our Awards this year a competitive category recognising innovation in case teaching

I'm looking forward to writing another blog about how much innovative case teaching we've been able to uncover and share as a result.

Women entrepreneurs

The latest Sunday Time Rich List shows a record number of women - 108, up from 105 last year - which seems like some kind of progress, however limited, progress until one looks at the nature of their wealth in a little more detail.

The UK's richest woman is Kirsty Bertarelli, whose £7.4 billion comes from her husband's family's pharmaceuticals company, and the pattern of wealth acquired through birth, marriage or divorce is repeated until we reach Dame Mary Perkins, 8th woman and 84th in the overall list, sharing £870million with her husband with whom she co-founded Specsavers.

Karen Gill, of the Everywoman  network supporting women entrepreneurs says that while it is nice to see the list include women who have made their own money, there are still questions about why there aren't more women in the list, and why are they generally retracted to the creative (JK Rowling) or retail (Linda Bennett - shoes) industries?  The list is still dominated by men who have risen to the top of sectors where the really big money is found -  industry, oil, pharmaceuticals, property and construction.

Initiatives like Everywoman are obviously a wonderful thing but they face huge challenges.   Only 15% of UK businesses are started by women compared to roughly 50% in the US and the British generally are less likely to take the entrepreneurial plunge.

Here are two upcoming events that might help.

The Bettany Centre Venture Day for entrepreneurs on 10th May.

The ecch one day workshop on Cases and Entrepreneurship  on 28 June

Cases, research and teaching: what goes around...

Grandon Gill is a professor in the Information Systems Decision Sciences department at the University of South Florida.  He is also a keen proponent of the case method.

In his most recent blog Grandon outlines a very clear model of the relationship between research, classroom teaching and practice.  It's a view of the benefit of cases that I think is at the heart of the method something that ecch is committed to supporting.  Last year we published an article on our website featuring an interview with Cranfield professor Mark Jenkins www.ecch.com/researchvsteaching

Grandon's blog prompted me to write something again but in fact, as I agree entirely with what Grandon says, why not just go to his blog and read it for yourself?  http://grandon.com/blog/?p=187 

And take some time to explore his other postings about using cases.

Our Annual Case Awards

Case writers are often under recognised in comparison with colleagues of similar stature publishing in refereed journals.  So it's always a pleasure and a privilege for ecch to play some part in redressing that imbalance through our annual Case Awards.  We took the decision only two years ago that the Awards should reflect our global presence by being open to entries from around the world, so it's such a pleasure to see our winners this year represent thirteen schools, seven countries and four continents.

This year’s Awards demonstrate the widespread excellence in case writing and teaching taking place around the world and the relevance to the current economic climate of subjects being taught. The era of cases originating predominantly in only the historically most well known business schools is past. Relevant and effective cases are being demanded, used – and produced, worldwide.

Congratulations to all our winners and especially to James A Erskine, Michiel R Leenders and Louise A Mauffette-Leenders of the Richard Ivey School of Business who were awarded the Outstanding Contribution to the Case Method award in recognition of their work in bringing the case method to thousands of faculty worldwide through more than 400 case writing and case teaching workshops in more than 50 countries over the past 40 years.

Full details of the Awards may be found here: www.ecch.com/awards2012.

As the Olympics approach, the Hot Topic for next year’s awards is The Business of Sport.

What We Mean When We Talk About the Digital Classroom

The problem with new technology is that by the time most people know what they mean by 'new technology' it's no longer new.  New has moved on like someone you'd like to be friends with but they've upped and left for another school, another job, or sometimes just died.  And yet we all (sort of) know what we mean when we talk about new technology, or the digital classroom, or whatever else we call the business of transacting at a distance what we used to do face to face.  It would help if we could separate the long term relationships and values being expressed and the temporal technological developments we might use and which flit by too quickly for the non-obsessed to keep pace with.

In fact, I'm not bothered by this dislocation between retaining (not preserving - retaining) long-term values and keeping up with what's novel.  It seems to me it's a healthy place to be, that tug back against a too ready acceptance of the new.  Remember the craze for CB radio?

Today's FT carries a feature on an innovative use of technology by Boston University School of Management, where they are bringing live contributions from business leaders into classroom  project work and case discussion.  The article identifies how this radically alters the role of faculty from 'sage on the stage' to 'guide on the side'.  It certainly looks like the BU faculty and students benefit from this digitally enhanced learning and it reinforces my own sense that moving from sage to guide chimes precisely with the strengths of the case method so that case discussion is positioned strongly to take advantage of new technologies (whatever they might be), and in any event certainly better than other approaches to teaching and learning.

The article quotes Ellen Rubin, vice-president at Terremark, "No matter how well the case is written, to hear from someone who was in the trenches and had to make a decision, there's no comparison".   I take that as a call to take advantage of the opportunities technologies give us to develop the case method rather than replace it.  

Pears Business Schools Partnership case studies and lectures

The Pears Business Schools Partnership is a collaboration between Cranfield School of Management, London Business School, Said Business School and Pears Foundation to stimulate student engagement with the themes of sustainable and responsible business in society and to take into their leadership careers a desire, a willingness, to seek out and implement innovative models for change.

The Partnership has commissioned the development, publication and teaching of twenty seven case studies on the value that businesses and business leaders bring to society, and an annual lecture by a leading business figure who is using the power of business to make a positive difference.

Last night I attended the 2^nd annual Pears Business Schools Partnership lecture delivered by Sir Andrew Witty, CEO of GlaxoSmithKline, who delivered a compelling call for businesses to connect more strongly with fundamental social and ethical imperatives.

Sir Andrew sees this as an important time to consider the intersection of business with society. Why? Because trust in the private sector has eroded and corporations have become more de-humanised over the past twenty years. In order to redress the balance, businesses need to place the values of the individual at the heart of everything they do – staff, customers, suppliers and shareholders – and align themselves with lasting personal, social values. Those that do are more likely to be more successful and sustainable and to have a more authoritative voice on key issues. And the key player is the CEO, who must have the courage to "...stand in front of the mirror and ask ourselves – what’s the most we can do to make a positive difference, to do better, be responsible, to keep challenging and demanding better?"

At ecch we're delighted to be playing a small part in disseminating the cases produced under the partnership. Sir Andrew Likierman, Dean, London Business School, said last night: “It is inspiring to hear Sir Andrew Witty outline the important role businesses can play in contributing to our society, and emphasise the business benefits of doing so. At London Business School, we have always believed that good corporate responsibility and ethical business go hand-in-hand with successful business practice, and it has long been part of the core curriculum in our MBA programme. The Pears Business Schools Partnership, through the rich case studies it is producing, is helping that aspect of our work even further.”

Nine case studies are being written by each Business School and we will be assessing their impact in the classroom. The case studies feature companies such as Innocent, Proctor & Gamble and UBA Group, and examine the diverse and imaginative ways businesses contribute to society and generate positive value as a result of their work. All the case studies will be published online and in a summary brochure later this year.

Barriers to developing schools adopting the case method

Our recent feature www.ecch.com/developingcountries on how emerging economies are discovering the benefits of using the case method in management education seems to be well timed. I also came across this blog from Professor Erhan Erkut exploring the barriers to adopting the case method for those coming to it fresh and with limited resources.  There are huge benefits to a school adopting the case method: local cases written by local authors immersed in the social and business cultures, research links with their local business communities, international exposure to other schools adopting the cases.   But we'd be doing ourselves a disservice if we weren't also aware of the barriers that can get in the way of a developing school, however committed, wishing to adopt the case method for the first time and professor Erkut's post does well to highlight an earlier research paper by Marina Apaydin.  Both illustrate a need for increased co-operation and support from western schools and academics.  We're trying to do our bit, too, and will be running a workshop dedicated to academics from emerging markets later this year - details to follow.  I'm also interested to see if the increasing use of mobile technologies acts as another barrier or actually eases entry into the use of cases, given the huge penetration into emerging markets.  But that's something for my next post, I think.

Entrepreneurship? It ain't worth a thing if it ain't got that swing

Regular readers will know that I love jazz and have drawn comparisons between it and case writing/teaching as two great American art forms constantly reinvigorated by adoption and adaptation in the rest of the world.
Seems that business academics and practitioners can learn some wider lessons from jazz and how it's organised and led.  Research into entrepreneurial leadership at Warwick University says that entrepreneurs and leaders of entrepreneurial teams can learn a lot from how the jazz greats lead their ensembles.  Entrepreneurial Teams: Insights from Jazz by Deniz Ucbasaran, Mike Humphreys and Andy Lockett (any relation to the sax player Mornington Lockett?) won an award for best paper at the 2011 ISBE conference.
Now the story is running in the jazz press
A jazz setting would make for a great case study, maybe in the style of Raymond Chandler:

It was about eleven o'clock in the morning, mid October, with the sun not shining and a look of hard wet rain in the clearness of the foothills. I was wearing my powder-blue suit, with dark blue shirt, tie and display handkerchief, black brogues, black wool socks with dark little clocks on them. I was neat, clean, shaved and sober, and I didn't care who knew it. I was everything the well-dressed entrepreneur ought to be. I was calling on four million dollars. (adapted from the opening paragraph of The Big Sleep)

Now that's an opening.

Journal of Academic Writing

The European Association for the Teaching of Academic Writing has just published the inaugural edition of the Journal of Academic Writing   The journal, which is international and peer reviewed, focuses on researching and debating best practices in the teaching of academic writing.  It's interdisciplinary but there is much that will be of interest to case writers including this article by Liz Cain and Ian Pople on writing practices in Business Studies.
Interestingly, those writers interviewed in the study make no reference to case writing, which led me to think about the status accorded to case writing in comparison to other forms of academic writing.  Case writers conduct and convert research into written accounts just as in other forms of academic publication, so what leads to their work being under reported even in studies specific to their subject area, where one would expect recognition of the form to be almost universal?
This peer reviewed journal is a welcome contribution to the academic study of the value that good writing brings to education.  Our annual awards for case writers make a contribution, of course, but we must find a way of doing more.

Reports of the death of the case study have been greatly exaggerated (again)

The launch of Harvard Business School's FIELD programme has led, though not by HBS itself, to some thoughts that the days of the case study may be numbered.  In fact HBS is building on the strengths of the case method by beefing up the student learning experience through a blend of cases (including those researched and written at its increasing number of overseas research centres) and the FIELD programme's immersive experiential learning.

That this could be taken to mean the end of the case method is a misunderstanding of what the case method is about.  Working through a case is not a poor replica of real life, and is not intended to be.  It is a different form of experience - rather like how watching sports or opera or the report of an international trade negotiation on television is different from being there, never mind experiencing it as a player, performer or diplomat.   Different but, in many respects, better. On television I get better angles of view, expert analysis and commentary and a much clearer picture of what is going on and why one team loses or wins, or a performer moves us or a negotiation is lost - something that often the players themselves or, more often, the losing managers, don't always know themselves.

In the same way, a good case study provides the clarity and analytical rigour for which real life doesn't allow time.  HBS is recognising this by retaining the mix of case study and experiential.  Reminds me more of Executive education, than a New Orleans band marching us to the grave of the case method.  

Going 100% cases

The ecch accessibility programme supports developing schools in their adoption and use of the case method, which is why I found this interview with Professor Hilda Amalraj, Dean at IBS Hyderabad, such an interesting read.  It's an account of her experience of the school changing to 100% case-based teaching and it highlights the demands the case method makes of faculty, students and administrators and the benefits it offers in return.  Faculty require support and development in growing their case research, writing and teaching skills while the school administration may struggle to fund both the provision of professional development and the cost of accessing cases.  But the rewards are high.  Students experience real decision making in the classroom using cases with both local and international perspectives.  Faculty writing cases engage with local business as they research and then write the case.  Theory is aligned with teaching practice.  Business communities benefit by interacting with faculty and the case can be used as an opportunity for self-reflection.  I believe the act of writing and teaching cases can stimulate interaction between schools and their local business communities to tthe benefit of both.

The ecch accessibility programme can help with professional development and affordable access to cases, working closely with case development centres around the world to make it much easier for all of us to access local cases written by authors within developing schools, reflecting a real understanding of the cultural and economic contexts within which business operates.

Rihanna brings in the sheaves

Here is my stab at a case in 50 words (see yesterday's blog).

You head Northern Ireland tourist board.

Tourism @ 4.9% GDP = £529m+40,000 jobs.  Film @£112m over 4 years. Farmer’s faith disrupts Rihanna video .

Farmer is local alderman but global news makes country look backward to tourists.  Production companies concerned about disruption.  You are called to attend government committee.

?

Short cases or long cases?

I sometimes get involved in arguments over the merits of long cases versus short.  Some claim only long cases are capable of rendering the complexity of decision-making into the classroom.  Well, look at how complex and rich the best poetry is.  If a good working definition of poetry is 'the best words in the best order', then the same might apply to a case, regardless of length.

Participants at Start Writing Cases, 3-4 April 2012 at VU University Amsterdam are sure to ask the question 'how long is long enough?'  I wonder if the answer could be 50 words or less?  If anyone cares to accept the challenge of writing a case in 50 words or less, send it to me and we'll see where we get.  I'll have a go myself and post it in my next blog.

And if you're interested in finding out more about 'Start Writing Cases', a practical and intensive workshop giving 12 inexperienced case writers the opportunity to take time out to work on an idea for a case, then visit  www.ecch.com/startwritingcases2012  for more.

Education, education, education

Last night's high profile launch of HBSP's new European office featured ex-Labour spin doctor Alastair Campbell and Sir Michael Rake, chairman of BT in conversation with Adi Ignatius, editor of Harvard Business Review.  The two interviewees disagreed most about education - though neither challenged the conventional view that 'too many people study the wrong subjects'.  So, once again, our present predicament is the fault of arts and humanities graduates who can turn their hands to the business of making neither things nor money.  Personally?  I'm all for them.  If more investors had taken Eng Lit read The Alchemist or Volpone they might have been less inclined to believe rates too good to believe, and History graduates may have warned that dot.com had all the hallmarks of the South Sea Bubble.  Let's have more, not less, in the mix.   (and while we're at it - how about the case study as a work of literature?)