This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.
Leaders play a pivotal role in the development of a nation and taking it forward. At a juncture where the GDP of India is growing at 8.8% the need for efficient and dynamic leaders is ever increasing. This increases the thrust on the management education in India. The country has immense capacity to absorb large number of managers and fortunately India is producing the required managers in numbers. India has around 1234 management institutes where management graduates pass out every year .But these managers are unable to cope up with the rigor and dynamism of the external market conditions. Here comes a need to reform the management education India.
Professors of Harvard Business school, Mr.Tarun Khanna and Krishna G. Palepu( in their article "Why focused strategies might be wrong for emerging markets?") stress the need for diversified markets and state that focused strategies might be wrong for emerging markets especially in a country like India. In India the access to capital market, product market and labor market is limited; hence the companies should diversify and grow with any opportunities they come across. Such companies by virtue of their operations are capable of driving the economy of a developing nation (like the huge business conglomerates-Tatas, Birlas, Reliance etc.). We as a team think that the managers produced by our management institutes should not only meet the diversified needs of these diversified Indian firms but also leverage their capacities to push India to the top by successfully overcoming the global challenges.
Just as the IIMs in 1960s started to churn out a band of managers with knowledge, skills and aptitudes appropriate to then India's industrial development, and became a role model for many other educational organizations, today we need a new wave of management institutions that will launch India on to the global arena, without the legacy associated with operating in a protected environment. These new institutions should build on the fundamentals of management but focus on values of entrepreneurship, leadership and innovation appropriate for the global competition.
We, as a team have developed a framework for evaluating every management institute in India. A separate statutory body and a National-level council for management education, underÂ Department of Higher Education,Â Ministry of Human Resource Development should be incorporated which would accredit management institutes based on this framework. Eventually, when the B Schools are evaluated by this statutory body on the stated factors and parameters they will emerge as well chiseled management institutes geared up to impart the best quality management education to our students. This education will form the platform on which our students can further build their skills and competencies depending on the need of the hour. Thus by following this framework any management institute of India will be able to produce managers
National economy now stands transgressed into transnational economies converging will-fully at the center of inclusive growth and sustainable development. This necessitates that countries and organizations interact in the economy, with networking, co-operation and free flow of knowledge within and beyond. This mandates need for strategic and functional reforms across horizontal and vertical hierarchy of econometrics. Peter Drucker though used the term in 1966 it started pacing more in recent times and is popularly known and practiced as Knowledge based economy. Knowledge based economy is essentially an interdisciplinary domain that cuts across each echelon to produce expected economic outcome. It encompasses interlocking driving forces, which are changing the rules of business and national competitiveness.
India with second largest higher education system in the world epitomizes crises in achieving systematic reforms. The responsibility of taking India to the forefront of newer horizons essentially rests with professional management institutes.
Background of Management education:
Post Independence education became the major responsibility of the state government which later expanded as the joint responsibility of both the state and the central. Taking into consideration the growing need for education the All India Council of Technical Education was formed. By the government under which 4 leading universities situated in Delhi, Bombay, Calcutta and Madras started offering Part time management courses at Post Graduate levels. During the sixties the management movement gained further momentum and two major institutes of management were set up- one at Ahmedabad which collaborated with Harvard, while other at Calcutta with MIT. In 1968, Delhi University launched its first full fledged MBA program noticing the need of management graduates at all levels of the organization which was very soon followed with the 3rd IIM which was setup in Bangalore in 1972.We need to take this management education to the grass root level. Owing to the late Rajiv Gandhi, India is now a powerful knowledge economy and though India may have been slow to start it certainly has caught up with the west.
Over the years the methodologies and technique of management education studies have undergone a drastic change.
Theoretical frameworks driven by academic research
Analytical frameworks +Experiential global learning
Analytical frameworks +Experiential global learning +Renewed risk management models
Decision making driven by
Judgment + intuition
Business Insights +Corporate ethics
Business Insights +Corporate ethics + Global Challenges
Academic rigor + Business relevance
Academic rigor + Business relevance +
Growth of business schools in India during 1950-2006:
No. of Business schools added
Average annual addition
1950-80 (30 years)
1980-1995 (15 years)
1995-2000 (5 years)
2000-2006 (6 years)
Source: Adapted from Dayal, I., "Developing Management Education in
India", Journal of Management Research, 2(2), August 2002, page: 101.
Growth in the number of business schools has accelerated over the last 2 decades. This acceleration, propelled by the increase in the rate of growth of Indian economy, speaks also of the entrepreneurial initiative of the promoters to seize commercial opportunities in education. The imbalance between demand and supply for management graduates has led to an overly commercial and exploitative environment in management education. It is not clear how many of the recently started institutions are merely speculative and how many are seriously committed to the cause of management education. It is not also clear how many actually meet the norms and standards established by the All India Council for Technical Education. The regulatory framework and implementation has been unable to link the entrepreneurial initiative to performance in terms of educational quality. It has a control perspective focusing on inputs such as land, faculty, and other infrastructure rather than on the outcomes such as quality of education, research, access, cost effectiveness or relevance.
Emerging Trends in the Management Education:
The major innovative trends in the management education in the recent years are:
Research in Management
Foreign University Partnering
Cross Functional Emphasis
Apart from the usual mode of classes conducted these are some of the new trends in the pedagogy of management education. They are followed by Indian institutes and majorly by other European and American institutes to impart knowledge but the education imparted should have an impact on the students. The impact should be proved in terms of new skills developed, in better analysis of problems, in comparing and evaluating different solutions for the problem, in the approaches taken for solving those problems and the overall knowledge gained on the subject. This impact is seen in the products of European and American institutes but surprisingly it's absent in most of the Indian students who has undergone the same type of education, same mode of knowledge transfer.
Who should be blamed for this lack of intelligence among most of the management graduates of India? Are only the students responsible or the institutes are also to be blamed? Is there any other functional body which is to be blamed for its lethargic approach resulting in the deterioration of education quality?
6. Our Approach
The responsibility of delivering this high quality management education is of all the management institute of India. To facilitate the management institutes we need regulatory bodies which can govern and also continuously provoke them to improve without losing out the attention given to the ever changing needs of Indian industries. So we believe there should be a separate governing body for regulating management institutes because
Difference in the outcome of an management education from other educations
Difference in the stake holders of an management institute which includes the corporate, the PSU's, other institutes
Approach to impart the education is different from the traditional approach and they won't help in deriving the desired outcomes
Virtue of the role which a management graduates would play in developing the economy of India.
Another aspect which needs to be considered is the change in student's attitude towards management education.
a. Role of Management Institutes:
Management Education delivered in management institutes are a form of service provided to its customers - the students. The author of books like Services Marketing, Mr. Lovelock believes in using the customers as co-producers for improvement of service delivery. He believes that the customer should be evaluated for his competence to receive and appreciate the service provided to him. Recruitment of the right customer is as important as recruitment of the right employee. The management institute should be able to screen and avoid those students who are joining management programsÂ not because of their abilities, but because of their inabilities to pursue a career in any other technical field. For which the B-schools should have a proper evaluation pattern, criteria and performance measure to select the target profile of students before giving admissions. This becomes more important looking into the fact that a small bunch of incapable unfocussed lot of students can spoil the experience, enthusiasm and education of passionate and capable students.
Cafeteria Approach: Courses offered to the students should cover every sector of every industry. Like in the menu of a cafeteria the students should have a varied option to choose the courses of their choice. Once a student enters a B-School he should be presented with a wide variety of courses and should be guided properly according to his or her interests. This can be mainly implemented mid way between the courses after the students get a hold of their subjects.
During the course delivery in year one, students should be exposed to the fundamental base of management skills that serves as an important driver throughout the first decade of their careers. Economics, organizational behavior, and analytical courses form the intellectual foundation of developing an exceptional business skill set. While in the second year they should be able to integrate the concepts, apply them in various contexts and then finally should be able to formulate simple strategies. In keeping with our tradition of innovation, the MBA faculty should revise the curriculum and course offerings from time to time.Â
IMPARTING EDUCATION TO BUILD THE RIGHT PLATFORM
PICK THE APT STUDENT (with suitable selection criteria)
EVALUATE WHETHER THE STUDENT HAVE ACQUIRED THE REQUIRED SKILLS AND KNOWLEDGE
MANAGERS (with entrepreneurship, leadership and innovation skills appropriate for global arena)
ENTREPRENUERS (with entrepreneurship, leadership and innovation skills appropriate for global arena)
DRIVE THE INDUSTRIES FOR BETTERMENT OF INDIA
Learning Process of Management Education:
Management institute should design a curriculum which when implemented would impact the students from three domains in a positive way. It should be designed and delivered to make such impact. The ultimate outcome of management education imparted to our Indian students should able them to understand concepts, apply, analyze and evaluate them (cognitive domain); put those concepts in action (psychomotor domain) and develop the right attitude (affective domain).
Learning outcomes are statements of what a student should know, understand or be able to do at the end of a learning activity. We build upon our former learning to develop more complex levels of understanding. Mr. Benjamin Bloom - PhD form university of Chicago in 1942, looks on learning as a process
Blooms taxonomy of learning process consists of a hierarchy of increasingly complex processes which we want our students to acquire. Bloom (1956) proposed that knowing or the learning outcome of any course is composed of six successive levels arranged in a hierarchy.
6. EVALUATION EVALUATIONEvaluationEVALUATIONBlooms Taxonomy of learning Outcomes:
Cognitive Domain ("Knowing"):
Knowledge - Ability to recall or remember facts without necessarily understanding them
Comprehension - Ability to understand and interpret learned information
Application - Ability to use learned material in new situations, e.g. put ideas and concepts to work in solving problems
Analysis - Ability to break down information into its components e.g. look for interrelationships and ideas (understanding of organizational structure)
Synthesis - Ability to put parts together
Evaluation - Ability to judge value of material for a given purpose
When the student's cognitive domain is affected in a hierarchal manner as shown above his EmpQ (It is a ratio of the student's capability build up to meet the generic expectations of the recruiter at any point of time) increases rapidly.
Psychomotor Domain ("Doing"):
It involves co-ordination of brain and muscular activity. This will be required by the management graduates in order to use computers and other high end technical equipments which may be unique to certain industries. This can be exercised only when the cognitive domain is fulfilled and this is exercised to the fullest when the student set out to work in the industry.
Affective Domain ("Feeling"):
It involves attitudes. When the cognitive domain is fulfilled and the psychomotor domain is exercised the right attitude towards the job develops within the student and this will be the driving force which helps in excelling in any field of work. This excellence will be nurtured by the student himself in future, wherein he might go for executive education or for doctoral programmes. When this happens on a large scale definitely there will a huge impact on the society in terms of efficient usage of resources and it will uplift the Indian society.
Apart from the above mentioned learning outcomes the institute should undertake the following:
Conceptual change: The new concept of education will be Education=Building society.
Mission of B schools should be in lines of -
Knowledge creation: Research and publication, case writing and development, journal publication and development.
Knowledge dissemination: Regular management programs, executive education, consultancy etc.
Knowledge Certification: Rewarding MBA, PGDM, PGPM degrees after successful completion of the courses.
Spin Off firms: This is Academic Entrepreneurship which means that there are certain firms that are formed basically by the faculty members within the institute privately and allow students to pursue market research, projects and several other educational programs.
Quality Mandate: It is worthwhile to improve quality than quantity in management education. Change in curriculum, infrastructure and staff development will lead to content enrichment, up gradation of teaching technologies, organization culture. Enhancement and application of TQM tools in education will lead to a highly competitive global scenario in Indian education.
Knowledge transfer: Exchange of library collection, case study and research findings for dissemination of knowledge among the management educationists as well the participants of the management courses will be a well found approach for transfer of knowledge.
b Current Regulatory body in India:
The AICTEÂ accreditsÂ postgraduateÂ and graduate programs under specific categories at Indian institutions as per its charter. The Business school accreditation body in AICTE also accredits other schools like engineering, Hotel management, pharmaceutical etc. There is an urgent need for a special statutory organization which accredits business schools separately.
Need for a new regulatory body:
The evaluation criteria for a business school and the institutions of other studies are different as the learning outcomes of the students of different studies are different. These criteria which are used to evaluate the Business schools should change the performance measures of the business schools from the AICTE compliance grade.
The business schools should be evaluated on 10 areas namely:
Context, Governance and Strategy
Research and Development
Contribution to the Community
Resources and Administration
Context, Governance and Strategy - Different areas to be assessed under this factor are:
Mission, Vision and Values - Schools mission, vision and values how it relates to its identity
Strategic Positioning - Description of the School's current strategic position in India and international market
Strategic Direction and Objectives
Quality Assurance - A brief description of the formal mechanisms for internal quality assurance
Internationalization - Evidence that the international dimension is reflected in the School's governance, culture and strategy
Corporate Connections - Evidence that the corporate dimension is reflected in the School's governance, culture and strategy
PROGRAMS OFFERED - Different areas to be assessed under this factor are:
a) The Programme portfolio - The policies and processes used to develop the portfolio in line with the School's strategic objectives
b) Programme design - The process for designing programmes and should explain how the School ensures that programmes meet the needs of the market and of participants
c) Programme content - For the course philosophy, key programme objectives, intended learning outcomes (ILOs), core content, options offered and the pedagogy adopted, course work involved and details of extracurricular or special activities involved in the programme
d) Skills acquisition - The means by which transferable intellectual skills appropriate to higher education are integrated into the curricula
e) Programme delivery
f) Student assessment
g) Programme evaluation - Explains how the programmes meet the needs of the market and of participants and include key stakeholder groups in the process.
i) Corporate relevance - Describes how the corporate perspective is built into the definition of learning objectives and into curriculum design
j) Societal relevance - The extent to which programmes integrate the main challenges in business and society such as Global Responsibility and Sustainable Development
STUDENTS - Different areas to be assessed under this factor are:
a) Target profiles of students and criteria for selection
b) Course preparation and progression
c) Support and Counseling Services for students
d) Personal and Professional Development
e) Ethics and Values imparted for students
f) Career placement and support for alumni
g) Alumni Relations - Describes the way in which the School maintains and utilizes contacts with its former students
h) Internationalisation - Assesses the readiness of the School's graduates to manage in an international context, supported by the evidence gained from the student body and from employment destinations
i) Corporate links - Describes the interface between the School and corporate world for employment and career support
FACULTY- Different areas to be assessed under this factor are:
a) Faculty size, qualification and composition
b) Faculty management - The processes in place for evaluating, for obtaining feedback and for retention and promotion of individual faculty members
c) Faculty development
e) Corporate links - The nature of the links between the faculty and the corporate world
Research and Development- Different areas to be assessed under this factor are:
a) Research activities - The research activities of the core and non-core faculty to the extent that they contribute to the quality of the School's programmes and to its ability to serve its chosen markets
b) Development and Innovation of new courses, education tools and delivery methods etc.
c) International features of R&D - Give details of faculty involvement in joint research with schools or colleagues in other countries
d) Links between R&D and the corporate world
Executive Education- Different areas to be assessed under this factor are:
a) Positioning within the School
b) Product Portfolio
c) Participant Management
f) Research and Development
g) Marketing and Sales of the institution for executive education in the global arena
h) Programme Quality and Impact
Contribution to the Community- Different areas to be assessed under this factor are:
a) Community Outreach
b) Extra-curricular student activities
c) Services to the management education profession
d) Corporate responsibility
Resources and Administration- Different areas to be assessed under this factor are:
a) Financial Resources
b) Financial Management Systems
c) Computing Facilities
d) Marketing and Public Relations
e) Administrative Services and Staff
f) Information and Documentation Facilities
g) Physical Facilities and the Learning Environment
Internationalisation- Different areas to be assessed under this factor are:
The evidence that the international dimension is reflected in the School's mission, governance, strategy and current operations.
The current level of internationalization as reflected in the profile of the faculty and the student body
School's international activities outside its home country (exchange students abroad, faculty mobility, joint programmes, offshore operations, etc).
School's network of international academic relations
School's links to the international corporate world
Corporate Connections- Different areas to be assessed under this factor are:
Processes used to manage the School's relationships with the corporate world.
Nature and extent of the School's interface with the national and international corporate
7.a. Institute Initiatives:
Student selection criteria should be more specific and should be aimed at finding whether the candidate is competent enough to appreciate the education imparted
The management education curriculum should be designed and imparted to students in a way that it impacts the students on cognitive, psychomotor, and affective domain
Take special initiatives for encouraging entrepreneurship
For providing more time for absorption and creative thinking and maximizing the freedom of choice offer a less number of compulsory courses and a large number of electives.
Indian B schools are not known for any focus. For e.g. Kellogg is known for marketing, Stanford for technology and Harvard for general management. So Indian B schools need to develop focus.
Certain compulsory courses are to be taught like leadership and organizational behavior, strategy, the entrepreneurial manager, leadership & corporate accountability and business, government & international economics (BGIE)
Lack of focus also impacts the income generating capability of the institutes. It is believed that a two-thirds of Harvard Business School's income comes from non-fee collections, namely from executive training and publishing. But for most of the Indian B-schools, fee collection is the sole source of revenue.
b. Regulatory Body's Initiatives:
Pass a new legislation to incorporate a new regulatory body which accredits B-Schools as per the new framework suggested in the report of India.
Start accrediting those B-Schools which complies with the guidelines of the new accreditation body.
Those B-Schools which has been accredited by the new body should be able to deliver better results, in terms of good managers and better placements due to improvements in the education imparted and this will nudge other B-Schools to join the bandwagon
Licenses to open new B-Schools in India should be given only when they comply with the newly formed accreditation body.
Soon all the B-Schools will comply with the newly set standards and hence the management education will be refined. So India will produce better managers
The newly formed accreditation body should start providing more services for its accredited members like as follows:
Access to a peer-based management development network:
By getting accredited through the new guidelines the B-Schools should automatically become part of the leading national network in the field of management development. The diversity of B-School network will allow the B-Schools to meet regularly with their peers to discuss, share and benchmark their experiences. They will have access to national network of management education institutions, companies and public sector organizations
Access to information:
Professional support by providing information to the B-Schools
It should provide knowledge services, newsletters, magazines to the B-Schools
Presentations and papers published in conferences and seminars should be available to participants
Profiles of B-Schools, faculties and executive education centers should be shared
It should conduct regular events for those B-Schools which it has accredited. Those events should facilitate them in improving their curriculum, their pedagogy, their interaction with corporate and to benchmark with other competing institutes.
It should regularly hold annual conferences for its accredited B-Schools
Conduct workshops for sharing best practice
Meeting for deans and directors general of various B-Schools
Separate conference for entrepreneurship, innovation and small business in order to nurture more entrepreneurs from our B-Schools
Regular meet ups with Public sector and other voluntary corporate through conference
Seminars and workshops on important operational and strategic issues
Individual advice to a B-School in order to help or improve themselves
Topics for Advisory Services seminars include:
Trends and challenges in executive learning
How to develop entrepreneurs, fostering innovation and entrepreneurial attitudes
Recruiting and retaining excellent faculty in your business school
Attracting quality international students in programmes
Current state of emerging technologies in management education
Currently running B-Schools will find it difficult to adapt to the new framework as it may force the B-School go against their current strategies
The whole framework is based on improving the quality of education but it misses out to address the profitability of the B-School.
Not all aspiring undergraduates will be able to pursue management education in those institutes which follow the framework as they may not qualify for the program
The parameters of the areas of evaluation addressed in the newly proposed system cannot be quantified as most of the parameters are abstract in nature
These parameters cannot be used to rank B-Schools so in future, some other performance measure may be used to rank them which may not add to quality improvement of the education
Education provided in those institutes which are following this framework is guaranteed as it emphasizes quality from various areas.
It will not become obsolete at least in the recent future as it addresses the issues generically and drives the institutes to provide solutions.
By implementing the framework the problems of various stakeholders of a B-School is addressed
Institutes will become more competitive in delivering better quality education so they will strive harder in improve themselves which will be a Continuous Process Improvement (CPI)
Institutes will also get to network with other B-Schools and corporate so will be aware of the dynamic changes in the industry and adapt themselves to it.
It will boost the management education of India to global standards hence attracting foreign students and placing India in a respectable position in the world.