A lot can be said about the weaknesses of our educational system at present.
And these weaknesses occur globally, not just in the West.
The weaknesses are:
The present educational system is so exam-oriented that it stifles creativity among the students.
It also punishes students for making mistakes; whereas in the real world especially business mistakes are important in invention and innovation.
It stresses so much on memorization of facts not on imagination and innovation. Albert Einstein who was also against the exam-oriented education had this to say 'Imagination is more powerful than knowledge'.
It produces academicians and professionals like doctors, lawyers and engineers only, and is useless in producing successful businesspeople, entrepreneurs and investors. That explains the fact why so many successful entrepreneurs did not do well in school.
It does not educate students to think laterally or outside the box. We need more lateral thinkers in business, science and life, not just logical thinkers.
It does not instill emotional IQ among the students, but just mental IQ. Emotional IQ is more important than conservative mental IQ in predicting business or scientific success of a person. Research has proven that many students with high mental IQ but lack emotional strength, fail in real life, while looking for employment or running a business.
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