Earlier quoted context omitted.
>If you want to blame anyone, you need to blame current financial thinking by most board of directors. I don't have an MBA, but my understanding is that this is what MBA programs teach, and is at least partly to blame for Wall St's, and boards of directors, short-term, bottom-line, quarterly focus. There are some people in the MBA world trying to correct that, one of which I know of are the Throughput Accounting [1]…
Not at all - MBAs teach company management and company finance. There really isn't anything in an MBA that would have anything to do with the job of corporate oversight that a board of directors handles. The board of directors are simply large shareholders who are put there to make sure management does what is in the best interests of share holders. In most large companies, these people are mostly made up of employee…
This is inherently what the board of directors does. Furthermore, you characterization of the make-up of a board of directors is not necessarily correct. Many (if not most) boards also have independent directors, who many not own a single share.
"There really isn't anything in an MBA that would have anything to do with the job of corporate oversight that a board of directors handles."
This left me scratching my head, my experience was the polar opposite of this comment. In my MBA program the topic of the board came up a number of times in finance and management classes. The board & corporate oversight were very much top of mind issues.