BOOK REVIEW: Claire Stewartreviews What They Teach You at Harvard Business School - My Two Years Inside the Cauldron of Capitalismby Philip Delves Broughton; Viking; €16 (€16.25)
GIVING UP a relatively prestigious position as Paris bureau chief for the Daily Telegraph to embark on a Masters in Business Administration (MBA) was a pretty radical step. It was perhaps lessened by the fact that Philip Delves Broughton chose to complete his MBA at the illustrious Harvard Business School (HBS). For me and other recent MBA graduates of Dublin's Smurfit Business School, Harvard was long viewed as the holy grail of the MBA world. Having read Broughton's book would I still have wanted to do an MBA? Probably. Would I have wanted to do it at HBS? Probably not.
For anyone who has ever considered attending business school this book is a fascinating journey of discovery inside the hallowed halls of the home of the MBA. For others it is an insight into what happens when 900 "Type A" personalities (highly competitive, impatient, high achieving workaholics) converge inside the "cauldron of capitalism".
As with most potential MBA students, Philip Delves Broughton is searching for something more from life. At the outset he thought the MBA would be "a path to greater knowledge about the workings of the world and broader choices about the life I might lead". It's not clear by the end of the book what exactly he has achieved.
So much is expected of an MBA that feelings of disillusionment and self-doubt within the first week are not uncommon. Having quit his job, moved his family and taken out huge loans it is hardly surprising that Broughton is left questioning, "What have I done?"
Much of this initial disenchantment seems to stem from the make-up of the Harvard MBA class. In Europe an MBA is generally pursued after at least five years' business experience. The average age of the 2008 graduating MBA class from Smurfit was 30.
In the US the MBA programme is more of a stepping stone for younger graduates. In Harvard's 2006 class the average age was 27. In Broughton's first week he worries that he has put his life on hold to drink with the Boston frat boys. I think the more mature trend in Europe encourages a more inclusive integrating and socialising process.
Broughton describes the forming of a voluntary study group that disintegrated before the first year is finished.
This book demonstrated that the Harvard MBA really is the foundation upon which other MBA programmes are built. At Smurfit our strategy books taught us that an industry could be analysed by looking at the bargaining power of suppliers, the bargaining power of buyers, barriers to entry, the threat of substitutes and the degree of rivalry within the industry.
At Harvard, Michael Porter personally explains his five forces theory to students.
Take Google, for example. A future job at Google is an oft-coveted position for an MBA student. A dedicated MBA recruiter from Google came to talk to us at Smurfit, while Google co-founder Larry Page personally entertained the Harvard delegation. The same programme with slightly different access and privileges.
Overall, Philip Delves Broughton seemed to go through an MBA programme rather than an MBA experience.
By far the most interesting aspect of the book was the struggle whether to prioritise family or job when considering future careers. Numerous CEOs and successful entrepreneurs visiting HBS bemoaned lack of contact with their children and failed marriages, while Harvard students searched for jobs that would "rob them of their private lives".
The author's dilemma intensifies as he listens to a Morgan Stanley employee describing a 127-hour working week, leading him to question how he can succeed financially without losing his soul.
The book really comes to life in the final few chapters as the author struggles to deal with his future career path and life outside the "HBS bubble". He is overwhelmed with feelings of failure as, unlike 97.6 per cent of his class, he has not managed to secure a job upon completion of the programme.
Having graduated from an MBA class in a time of financial turmoil and global economic uncertainty, it is refreshing yet strangely unsettling to hear of a Harvard graduate who did not find the post-MBA promised land.
Broughton did not succeed in changing careers, and despite his professed enjoyment of the programme, was left with more ethical dilemmas than life-changing solutions.
The book is a highly enjoyable read for both business school graduates and a wider audience alike. However, much like an MBA programme, readers should not expect complete enlightenment or a solution to controlling your time, financial resources and life. Even Harvard hasn't all the answers.
• Claire Stewart graduated from the UCD Smurfit Business School earlier this year
