Value addition, or Filtering?

Unanswered questions always come around, don't they? About two years ago, when I was midway through the thoroughly unpleasant task of applying to B-schools, I wasn't really sure whether B-schools really add value to students, or they simply select a bunch high-fliers, hand them an MBA, and let the world know that these guys are the works.

A full term has gone by here at IE, right in the thick of the action, and I'm not quite sure of the answer, yet.

Maybe the first term was largely introductory in nature. But I don't think there was SO much to be learnt. Economics was great, and Information Systems was an eye-opener, and that's about it. Other than that, lets see...
* I've learnt not to be unduly impressed the next time I see a consultant presenting something with a two-by-two matrix.
* I've learnt that even smart MBAs ask the dumbest of questions.
* That many of us MBAs (and their professors) can't resist cliches (I might jump out of the window the next time I see an "iceberg" slide in a presentation).
* That if inclined to do so, you can make a bell-curve or an S-curve for just about anything.
* That people can give fancy names to the most basic, common-sense ideas and get published (ABC's window of XYZ), so-and-so's 5 forces, 4 Ps of marketing, 3 Ds of whatever....

But it's not all cynical. Many of the people around are genuinely interesting blokes. Quite a few of them talk sense. Most of them are equally at home in at least 3-4 countries. They have some really 'different' interests. And not everyone is out to join M/B/B or GS. A fair number of professors do actually try make the class relevant and interesting. So yes, you can emerge from the year at IE as a newer, improved version. But it's upto you !!