The Path Ahead for Business Schools: Looking Beyond Capitalism for Sustainability

The purpose of this paper is to examine the current position of the Business Schools at a time when criticism and protests against capitalism are rising across the world, which is also the main ideology served and propagated by Business Schools. Capitalism has been blamed for increasing gap between rich and poor, stagnation in wages, increasing corporate influence on Governments, climate change and environmental impacts, increasing consumerism and many other negative effects on the society and the planet. In this context the relevance and legitimacy of management education provided at B- schools is questioned. The paper builds on existing literature on criticism of B-schools and Capitalism to assess the relevance of Business Schools in current scenario. The paper proposes different alternatives that could be taught and incorporated in Business Schools’ curriculums to create more sustainable economies and societies. What could be the purpose and role of Business schools in such disruptive times is pondered upon.