Old School used to be a derogatory term for someone who did not change over to new methods and ideas.
The 'new school' is the methods of taking short-cuts to the goal.
Many of the high level options trading schemes that are bringing companies down are part of the new school.
Same for making money without providing any item of value to the customer.
Some examples:
NS: if you have not needed it for 2 years, throw it away.
OS: if it still has value, store it.
NS: out-source tosave 2% on cost
OS: keep it in house to control quality
NS: sample the final product for defects
OS: check and verify as you go
NS: change for the sake of change
OS: change if it will improve things
Chas