Examination of the current management education eystem in india

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Foreign universities may be going the extra mile to lure Indian students abroad, but a new report reveals that Indian students who aspire for a Master in Business Administration (MBA) degree continue to find the country an attractive destination for higher studies.

B- School Education is undergoing a titanic shift in India, with growth continuing unabated, despite the ongoing global economic slowdown. Many of the top schools in India have admitted more students and moved to other cities to set up campuses, even going international to expand their footprint. They are also bracing themselves to face intense competition from the best schools abroad. International collaborations for academic, faculty and student exchange have increased, with a large number of the top category taking up international accreditation.

In the era of these fast emerging changes, there is a need for future global managers with qualities and competencies in global perspective. Quality is the only currency, which is accepted universally & it is also true in the case when product is education. Every customer is now quality conscious & it is also imperative that a passion for quality is developed in the International as well as Indian psyche. In management education, quality has become a necessity & circumstances require total quality management. The make India a intellectual capital of the world we have to rethink about the management education & effort should be made to create a dynamic environment, which can quality technical education colleges.

OBJECTIVE

The paper is an effort to examine the current management education system & to find out ways for quality improvements in the present management education system so that business schools respond to current paradigms. Particularly talking about Indian management education, the need to reform can be illustrated as follows.

From the chart, we can say that India is the youngest country. Majority of people in this range of age would be students. Thus there is need to reform the education system in India.

INTRODUCTION

In the modern economic scenario all over the world- "Management" - as a stream of education and training has acquired new dimensions. Management is an exciting field where you can have an immediate impact on the operations of any business. The field of Management is dynamic in nature. New tools and techniques are continually being introduced to improve the efficiency, productivity, and profitability of any organization. All organizations and their departments, functions, or groups use Management methodologies, which include problem solving techniques and guidelines for various related activities.

Education in management should have mainly following aims:

• Increase the understanding of the factors which influence the conduct of organizations

• Provide students with the tools and techniques that they may use to influence organizational life. Influence the economy in general.

PRESENT SCENARIO

During the past 35 years India has emerged as a major centre of management education. With the establishment of 4 Indian Institutes of Management - Calcutta (1961), Ahmedabad (1962), Bangalore (1973) and Lucknow (1984), the setting up of the Management Division at the Xavier Labor Relations Institute, Jamshedpur and the offering of full time and part-time MBA programs by some leading universities in the country, there was a quantum jump in the number, prestige, recognition and the impact of management education system in the country. More recently and particularly during the last five years the country has witnessed a phenomenal growth in the founding of management institutions most of them in the private sector, offering two year full time/3-year part-time post-graduate and/or 1-2 year Diploma programs in different functional areas of management. Additionally two new Indian Institutes of Management at Indore (M.P.) and Calicut (Kerala) are being set up in the Govt. sector during the current financial year. At present, 422 management institutes/departments have been recognized by the All India Council for Technical Education (AICTE) for imparting postgraduate program in management having a total annual intake of 38,500 students - 25,600 full-time, 6,600 part-time and 6,300 distance education.

Estimated number of management schools worldwide

: 12,100

Total number of management schools in India is

around 1200

Rank of Andhra Pradesh, Maharashtra, Uttar Pradesh and Tamil Nadu in number of AICTE-approved B-schools

1, 2, 3, 4

Percentage of AICTE-approved management colleges located in these four states

: 59

Total number of MBA seats offered by colleges/institutes in India in 2000

: 70,000

Total number of MBA seats offered by colleges/institutes in India in 2009

: 1,20,000

Rank of India worldwide in number of students applying for full-time MBA programs at US and Canadian B-schools in 2010

: 1

Average age of MBA students in India, in years

: 25.9

Chances that an MBA student worldwide is a woman

: 3 in 10

Chances that an MBA student in India is a woman

: 1 in 10

Growth in number of management education institutions as compared to other education institutes:

REASONS AND WAYS TO REFORM

Poor Admission Procedure:

The admission procedure is not transparent. Rules and regulations often get flaunted. Thus it becomes a lengthy and time consuming process. Therefore the governing body should stick to the predefined laws, and the administration of the institutes should not be interfered unless the institutes are obeying the laws. The necessary changes in laws of admission have to be done much prior to the beginning of admission process.

Improvement in quality of education:

There should be more focus on the realistic case than the theoretical case which would help students to learn about the facts related to business environment. Staffs having very good experience in the respective field need to be invited in the institutes who would share their practical knowledge with students and help them to grow. Faculty members being the most crucial factor in the management education process, it is a stupendous task to meet the faculty needs of the rapidly expanding management institution system. There is an acute shortage of high quality management teachers, particularly in the functional areas like marketing, finance & also integrative subjects like strategic management.

Faculty selection should be made on merit only & compromises should not be the part of selection. Full time permanent faculty should be encourages, so that they can devote full-time for the organization. Faculty should also be involved in the administration role. This is an urgent need to plan a crash program to train management teachers at selected management institution, & also to limit the expansion of the system to what is sustainable without sacrificing the faculty quality. The quality of faculty is going down as more and more institutes mushroom with the aim of making money rather than enhancing the quality of education.

Inadequacy of resources and Infrastructure:

Without the required infrastructure, students can't learn properly. The basic requirement is the good campus, which includes hostel, staff quarters, library, classrooms, and canteen. Institutes must have the instruments with latest technology. The availability of all these things should be 24x7.

Placements:

It is one of the most important factors which give a unique identity to the institute. Institute should create good employment opportunity for their students. However, many students join this professional course only for the placements. Although it's an important factor of the course, but it is not the only factor which makes the difference. So institutes need to conduct some consultation programs for such students that can change their placement oriented mentality and help them to grow overall. So placement should be de- linked from academic institutions in the sense that placement cell should not be treated as an employment bureau.

Transparent inspection of college standard:

A quality improvement by transparency in the management education is possible only with the help of government. The selection of experts on the monitoring panel should be based on certain qualitative parameters or criteria. Taking into consideration their professional background should carefully draw the panel and admirable achievements, the appointment should not be on the basis of position government role should be more monitoring then controlling and the relationship between government and institutions should be based on trust not on distrust. More liberty should be provided to private institutions, with some qualitative directors. University system itself needs to be revamped and restructured in the light of present dynamic environment.

Institute-Industry bond:

Today, as the world is going through globalization, only theoretical knowledge is not sufficient. The management students need to have more and more exposure to the corporate world. So the institutes have some linkage with industry, and reorient the course program according to their requirement. Real life problems can't be solved only by the theoretical knowledge. For that purpose the summer internships should be of longer duration. There has to be participation of the corporate in the institute. Institute will have to organize seminars inviting Industry participation. Regular interaction with Industry in terms of lectures will have to be organized

Values:

While discussing values the points that came up were that values are something that cannot be defined and taught, they are only inculcated over a period of time. There is some mismatch between recruiters' expectations and Indian B-school graduates, as the recruiters look for completely dependable graduates on whom the company or the organization can rely. But no management institute can produce such students, as this is not a value, but a skill. An institute can only enhance existing values/skills, but can't create them.

So is the case with creativity. Business ethics is something that shouldn't be compromised. Developing values that enable decision-making in grey areas characterized by inadequate information or conflicts (like profit vs integrity) is a tricky issue

Post-Experience and Distance Learning Programs

Of late some institutions like IGNOU, AIMA offer distance learning programs in Management Education for employed graduates. Such avenues should be strengthened, particularly with the opportunities provided by information technology with respect to remote teaching.

Similarly, there are Management institutions which offer long term part-time evening, Programs for working executives leading to Post Graduate Diploma/MBA. Avenues for post-experience training should be extended and upgraded to Cater to those who cannot afford full time Management Education.

Apart from these key topics, following other reforms would also add to the values of quality students.

• Institute should make active effort to get some Government consultancy jobs even if those are at a loss. That would give visibility to the institute. Visibility is the most important thing for branding. Building or something like that should be made an image that would identify with the institute.

• Some business should be attached with the institute where the students would be able to actually test their knowledge.

• Institute or Group should sponsor programs in all the commercial clubs of the city where senior students can participate in the games/competitions of these clubs that will give the acquaintances and jobs. This will also help to make the institute visible to the industry.

• The institute can hold information seminars in the chamber of commerce where industry people can be invited. Once the Institute gets recognition, they can charge some fee for such seminars. Recognition would depend on the quality of presentations.

• Institute can hold yearly lectures seminars inviting eminent speakers to speak on current subjects. It can also hold annual debates in association with any organization or independently inviting leaders of the society and industry.

MANAGEMENT CHALLENGES AHEAD

The liberalization of Indian economy has resulted in

a highly competitive environment

Indian business going global

great all round emphasis on technology, quality and cost

greater concern in society for environmental issues and

Unprecedented development and use of information technology.

Efficient and effective management of the enterprises plays a crucial role in this context.

A prime precondition for enhancing the global competitiveness of Indian industry is the creation and maintenance of close, multilateral cooperative linkages among the Government, Industry, Labor and Academia. The latter includes institutions of higher education and research in management, science and technology; governmental and non- governmental R & D organizations; and consulting firms. Without a high level of sustained cooperation among the relevant national entities towards focused and well-coordinated synergetic efforts, the process of enhancing the competitiveness of Indian industry and economy cannot really take off in a self-sustaining manner.

DIMENSIONS OF MANAGEMENT EDUCATION & RESEARCH

In the context of the imperative needs of Indian economy and the pre-conditions of multilateral co-operations among wealth-creating nationals. Entities, the following broad themes and dimensions of management teaching and research seem to be emerging:

Requirement of a well co-ordinated and flexible orchestration of the government's industrial, technology, fiscal, trade, education, labor, rural development, infrastructure and economic policies directed toward expansion and technological up gradation of the national economy in an ongoing manner.

Management of technology and innovation towards continual strengthening of the country's and the companies' technological capabilities through innovation; technology acquisition, assimilation and development, skill formation and both short and long-term collaborative development of nationally relevant core technologies.

Identification and creation of an easily accessible bank of best industry practices across the world in all areas ranging from Production and marketing to finance, logistics and R&D.

Enhancement of the nationwide development and use of Information Technology for accelerating the operational metabolism of organizations towards breakthrough improvements in cost reduction, speed, output, quality and performance.

Extensive use of Business Process Reengineering and Total Quality Management in and by Indian enterprises towards raising their productivity and quality to world class levels.

Regular scanning of the global economic and technological environment for identifying and tracking current and emerging developments, and defining the country's industrial, technological and developmental priorities in the light of global conditions and trends.

CONCLUSION

Today, India is in growing stage. The biggest resource we have is nothing but human resource. Humans with great qualities, skills can help the country to grow further. Professional education would definitely help people to develop and masters in their skills.

Management education is one of the courses which can make the difference. Having large number of education institutes and huge amount of talent, India has got the edge over the other countries.

From this paper we have come up with the few solutions which would help the system to reform.

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