'Good B-school shapes your thinking, gives you values': Shark Tank judge Namita Thapar on why business school matters

I was a dreamy-eyed 23-year-old when I stepped into my first class at Duke University’s Fuqua School of Business. Why did I choose an international business school? Quite honestly, I came from a conservative Gujarati family, wanted to explore the world, live on my own, and have ‘foreign-returned’ on my résumé! Also, I was always very driven, tags and brands mattered to me, and so I wanted to have one more degree after chartered accountancy. Twenty-two years later, as I write this, it’s truly incredible to grasp how those two years changed my life in so many ways.

Let us discuss why I chose Fuqua over three other schools that I got accepted into. Firstly, I was interested in the health sector and Fuqua had a strong focus with several electives in this area. This not only helped me understand the sector and its nuances better but also gave me a fabulous internship with GlaxoSmithklineBeecham, and my first job out of business school at Guidant (now Abbott). Secondly, the size of the class was half of that in most business schools. After speaking to several alumni, I realised the merits of having a smaller community and stronger bonds as a result—it fit my mindset and personality type.

So, let’s talk about my time at Fuqua. While the course content was no doubt stimulating, complex, and fun, my biggest learning undoubtedly came from my peers—a diverse and fantastic set of classmates. You can learn the five Ps of marketing or the basics of derivatives online; that’s not the real value of a good business school. For me, it was the club activities, the late-night team meetings, the class discussions mostly bordering on stormy debates, the local community events, and the activities and conversations with my classmates both on and off campus that taught me so much more! What made my peers so exciting was their diversity in three areas. First, the students came with an average of four to six years of work experience. Second, the students came from across the globe. And, third, the students were not from cookie-cutter or stereotypical backgrounds. I had classmates who had been art and music teachers, soldiers, and politicians. This diversity is most refreshing and inspiring as it not only makes conversations richer, but also opens one’s eyes to different perspectives and cultural nuances.

Twenty-two years after my MBA, as I reminisce about how this degree helped me, there are a few obvious points. A good school instantly builds credibility and gives you incredible job opportunities. My work ethic, my respect for processes and systems and my focus on leadership bandwidth and corporate governance were shaped by those initial years of working in the US. This truly helped me deal with the complexity and exponential growth as Emcure scaled. Also, being a chartered accountant, I took fewer finance and more general management classes, especially ones in negotiation, human resources, and marketing analytics, which gave me an all-around conditioning that helped while dealing with the unique needs of a large business.

Most importantly, the networks I made at business school are truly incredible. Staying connected with my peers has opened doors to lifelong learning and also business alliances. Fuqua has made an exemplary effort at alumni engagement and involvement. I have been on the Regional Advisory Board of my school for the past six years and it is inspiring to see Dean Bill Boulding and Elizabeth Pogoloff make the effort to travel all the way to India for just two days for our annual board meetings to seek our feedback and give us updates on the school.

Where it didn’t teach me enough, and I wish it had, was in developing a more balanced and philosophical mindset. MBA at times seems like a factory that mass produces driven individuals who are out to maximise their pay, promotion, and profile in the shortest possible time. While it is wonderful to have that drive, most do it at the cost of work-life balance. It often leads to early burnout and promotes a toxic work culture. Aggression, a sense of urgency, and the quest for maximising returns are celebrated so much that often we see smart individuals justifying shortcuts and lapses in corporate governance. One of my favourite classmates died by suicide. He was one of the nicest and smartest guys I have ever known, but he got caught in a hedge fund fraud. We have so many such case studies in India too of smart MBAs who committed financial fraud despite having plenty and being at the topmost levels. This is where Eastern philosophy is so crucial. I learnt the importance of work-life balance, listening to my heart, and sharpening my intuition too late in life. Classes on Eastern philosophy and meditation and yoga must be made an absolutely mandatory part of the course curriculum. In addition, can the case studies and corporate visits be more around failures and empathy? MBA schools are the right time and platform to introduce these brilliant concepts that teach you to balance the shark and dolphin within you.

Schools like mine have taken positive steps towards this. Fuqua has many students, staff, and faculty certified in mental health first aid. They offer Koru Mindfulness classes through the wellness centre, provide yoga classes and wellness coaching. Every school needs to do this and with utmost priority!

Do you need an MBA to succeed? Absolutely not. There are enough examples of business leaders who have been highly successful without this degree. But, in my opinion, the merit of a good MBA is that more than just a toolkit, it provides you an absolutely fabulous experience that shapes your thinking and your values that, in turn, define who you become and what impact you have not just on your life, but on the community at large.

Views are personal. Namita Thapar is Executive Director, Emcure Pharmaceuticals.