Management education needs a facelift

Today management education is in vogue. Time and again ,it is proved that students pursue those courses which promise higher returns. Management education does promise students’ better growth and money. But the question is whether today’s’ management education is adequate enough to help students face changed business environment                                                                       .

Right now more focus is on classroom inputs coupled with minor practical assignments. Need of the hour  is to make learning more experiential. Minor assignments will not help students understand gravity of  corporate problems and the process of finding right solutions. Industry should help institutes by offering students such hands on experience. It will be a  win win situation for industry as well as students. Industry will get a fresh outside perspective and students will get to handle real life situations.

Today globalization is fact of life. Indian companies are rapidly expanding their operations globally. How many management graduates today are confident of handling global operations of Indian companies? In the name of the global exposure, institutes teach one or two subjects related to international operations. Why can’t institutes tie up with institutes in other countries to undertake student exchange programme for limited period so that students get real life feel of the global markets. Today many Indian institutes have tie ups with foreign universities. But these tie ups are more of academic nature.

Today Indian economy is growing at a very fast pace. Confidence levels are high. More investments are happening. Companies need people with entrepreneurial skills to manage these investments. Institutes don’t teach these skills. Skill sets required for managing company’s operations as a manager and managing investments of company as an intrapreneur  are totally different. No body can teach these skills better than an entrepreneur.

Also today’s business environment is very very dynamic. Changes are happening rapidly. Opportunities or problems in certain part of the world have impact on other parts of the world. Add to that factors responsible for changes at domestic level. We need change agents today who can manage operations in such a volatile environment.

Academicians need to think about these issues seriously in the interest of students so that we can proudly say that not only we have largest pool but world class manpower.