To meet with the rapid industrial growth in this competitive world the reforms in management education has become the buzzword of the day. With the changing scenario in the industrial sector, industry has to look for the managerial manpower which has knowledge and skills to take up the challenges in the face of current industrial developments. The management education sector has to bring up their product to meet the needs of the industry. But, in India so far the emphasis is not focused towards management education reforms, as majority of such institutions have limited interaction with industry. The efficiency and effectiveness of the education largely depends on the teachers' capabilities to perform. However, the role of a teacher in this sector, as professed today seems to be limited to impart theoretical knowledge alone.
Education planners have been engaged in the task of bringing about a proper match between management education and needs of the industry. The institutes have to be equipped with high quality infrastructure to carry out research activities and for imparting realistic practical training. A strong work culture within the academic institutions is to be developed for imparting quality education.
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This paper discusses the methodologies and strategies that need to be identified for establishing the areas of collaboration between industry and institutions to make the institutions play an active role in industrial growth and development. In this paper an effort has been made to discuss and identify management education reforms for effective industrial growth. It illustrates the ways to explore through the acts of maintaining the dynamism of management, which on contrary is becoming static.
The recent economic and industrial policy reforms call for integration of the Indian economy and industry with their global counterparts. This calls for quantum leaps in our levels of productivity and efficiency to survive in the face of international competition. It is generally accepted that the science, technology and management education are critical ingredients for raising the level of industrial competence. While science and technology influence the utilization of natural resources and capital, management education is related with human resource development.
In today's modern economic scenario our every single act resorts to 'management'. In other words, the world is resounded with 'management'. The word 'management' encloses "The ability of the individual to perform the task with optimal use of resources". Management is the key force for the rapid economic growth in the corporate sector. However, we cannot limit it to the same because its effects can be felt in every strata of life.
It instills the individual to seek various tools and techniques in order to improve the efficiency, productivity and profitability of any organization. Management is dynamic in nature that has revolutionized the whole world with the skills to make an ideal use of scarce resources i.e. "how to make your fewer equivalent to other's more".
Thus it is pivotal that the management education sector responds rapidly and effectively to the changing scenario. There is a wide range of management institutions in the country but the majority class of institutions does not focus their management education methods to suffice the dynamically changing industrial scenario. It is the need of the hour to identify and establish areas of collaboration between industry and institution to make the institutions play an active role in industrial development.
State-wise Population and PG Seats per Lakh Population:
Jammu & Kashmir
Always on Time
Marked to Standard
A large proportion of the capacity is filled through all-India examinations conducted at a number of locations throughout the country. Therefore, a high per capita seat capacity for a state does not necessarily mean a higher level of opportunity for aspirants from that state. The per capita seats per lakh of population may be partly a reflection of the state's capacity to absorb a higher percentage of management graduates.
THE PRESENT STATUS:
Soon after gaining independence in 1947, making education available to all had become a priority for the government. Enormous strides have been made in the areas of management education. India has around 1,700 business schools accredited by all India council for technical education (AICTE) and produces management graduates seven times than that of United Kingdom. Despite this fact, still we lack in producing the best business leaders and managers across the world from our business schools.
Today the general pedagogical direction in management education is moving increasingly towards a learning-centric perspective i.e. dealing with the topics such as accounting, finance, marketing, organizational behavior, strategic planning, quantitative methods etc.
In this era of Globalization, Liberalization, Privatization to achieve the desired targets of rapid economic growth India needs trained and professional managers. At present a considerable number of students are acquiring management education in India in campus centric institutions. The term "management education" refers to the process of imparting concepts, skills and competencies to learners, which are essential to perform the task of managing.
Thus, the management education sector needs to concentrate on quality not quantity. It is useless to glorify in the quantity of institutes erected in the country because our business schools ail in producing the effective product. Hence there is an urgent need to revitalize the management enterprise in the country and to raise the bars of this sector.
The books and literature replete with the various fundamentals of managerial skills do not make professional managers. The individual need to acclimatize and work in accordance with the real corporate world utilizing their managerial tactics in elevating the status of turn outs of an organization.
Thus, the MBA graduates have to associate their curriculum fundamentals with those of the corporate world, which is a part of their practical application. There's no denying the fact that the basis of management taught to students are effulgent. The students at renowned institutions like IIM's do have access to the corporate world that provides them a chance to gape into the real sector. However, still we aren't able to see the elite class of managers produced by India.
What's the reason??
Let's scroll through it.
There are over 1,700 business schools in the country today distributed over
different states as follows:
* Others: HIMACHAL PRADESH ASSAM, CHATTISGARH
There appears to be a correlation between the number of schools in a state and its economic and industrial development. The regional imbalances in development and the creation of capacity for management education in the state are probably related.
THE REASONS RESPONSIBLE:
What's the difference between the Panchayat head and the judge of district/state/high court? The Panchayat head does not match with the educational qualifications of the judge but still both of them perform their duty in a perfect way.
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What makes the Panchayat head take appropriate decisions and settle the arguments of the people of village? It's a very special ingredient termed as "wisdom". We all gain education in order to possess this precious jewel 'wisdom', so as to take right decisions at the right time. Thus, production of managers well acquainted with the managerial tactics won't make them efficient managers unless they possess wisdom. Wisdom is directly linked with our decision making strength. Lack of wisdom leads to ineptitude which further hampers the economic growth. Hence, there is a need to instill wisdom in our managers through counseling and PDPs (Personality Development Programmes).
The next reason that warns out our managers is the emotional set up. This problem prevails with every individual. Life is a packet of opportunities. When it is viewed, analyzed and utilized in proper way- it leads to joy else to troubles and sadness. Our life comprises of two homogenous mixtures i.e. professional and personal. But we make it a heterogeneous mixture by varying the components of the two. This means that we often take our professional problems at home and personal problems at office, thus disturbing the uniformity of our life. Hence, our managers need to have a well defined mental set up which is emotionally sound.
Where we lack more is the sphere of mixing up the learned skills with the practical and real situations. The real talent is tested when you are to react and respond in accordance with the existing circumstances. For instance, a well trained doctor is the one who can treat his patients well not the one who can explain the concepts of the disease well. Similar is the case with the managers. A man with experience can be a good manager as compared to a man holding the MBA degree, because your managerial skills depend on your work analysing and reacting power, where experience matters a lot.
Thus, providing the individuals with loads of tricks and tactics won't make them efficient mangers but to provide them a platform to test their learned tactics would do the work and would add to their experience. This experience acts as the key or answer to many of the problems encountered, thus increasing the efficiency.
Another very significant reason is 'Money'. Going for the IIM's and other renowned institutions means to have a big balance of money in your account. Thus, only the elite class of candidates goes for the course leaving behind the others. Again, depriving India with the talent which could create blasts in the management world.
Good interaction between students and professors. This effective interaction satisfies the fundamental functions of the education system that comprises of teaching, research and extension. Teaching serves to transmit knowledge and skills from the teacher to the taught ones. The purpose of research is to explore new knowledge whereas the function of extension
is providing corporate environment in the college itself, where everything is done with great responsibility and punctuality.
More focus on practical knowledge so that the students understand well the real applications of the terms- Marketing, Strategic planning and Organizational behavior, that proves to be very vital in the corporate sector.
Management education is one of the crucial components of human resource development with great potential for adding value to products and services for contributing to the national economy. Management education system should be responsive to the contemporary industrial culture, globally competitive market and liberalized economic environments. It is therefore, essential to set up a mechanism to regularly identify modern and emerging techniques to train adequate manpower for the industrial units, utilizing such techniques.
In order to improve the competence of the teaching faculty, regular schemes must be implemented for continuous faculty development and upgrading their skill levels. Continuing education programmes specially designed for industry should be run to develop mechanism for up-gradation of skills of existing skilled industrial manpower at all levels.
Large number of new institutions are being established to create more and more managers but at the cost of quality. Instead of creating new institutions, more attention needs to be paid to the consolidation of the gains of the existing infrastructure that should be upgraded through additional investment to bring about further improvements in standards and quality management education.
Growth of Business Schools in India during 1950-2006
No. of B-Schools added
Average annual addition
Growth in the number of business schools has accelerated over the last two decades although we cannot present the similar view for the proportion of managers produced from these institutions, as the growth of infrastructure is not proportional to the growth of skilled and efficient managers. The regulatory framework and implementation has been unable to link the entrepreneurial initiative to performance in terms of educational quality.
The institutes focus more 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. Thus, the institutes and the universities or the board of management studies need to upgrade the level of their curriculum.
There is extreme shortage of funds to support the infrastructure needed to provide qualitative and advanced education system. The government is unable to provide the necessary financial assistance. Therefore, internal resource generation should be encouraged
The training of the MBA students should not merely be confined to attending and observing the rigors of business life, but should involve application of the theoretical knowledge acquired by way of executing well defined projects in the company. Practice based industry oriented teaching should be implemented to impart superior and improved skills to youth as per the present day requirement of corporate sector for better employment opportunities.
The curriculum followed in management institutions should conform to the needs of the modern market. The company should be actively involved in the design and development of the syllabi for management education. The curriculum must be revised frequently to match the rapidly changing industrial scenario. Moreover, the faculty of the management institution should interact with the industry to keep themselves updated with the latest developments taking place in the corporate sector. A concerted plan of action should be implemented to create a strong band with the corporate sector.
The management education system needs to be re-engineered, keeping the resources, needs and goals in focus. It is needed to forge strategic and organic alliances and partnerships between industry, academe and the government to achieve synergistic results. Thus, mushrooming management schools, over dependence on western models in teaching with no relevance to Indian conditions and inexperienced faculty at most B-schools are the major reasons responsible.
The main weakness of the Indian management education is the inability to take advantage of the Indian cultural heritage and develop a curriculum relevant to the Indian context. Very less effort is made to develop teaching methods and materials with direct relevance to contemporary Indian business world. Indian management education system depends on Western material for teaching without scrutinizing their relevance to the objectives, needs and problems faced by managers of Indian enterprises.
Thus, effective measures in all directions need to be implemented so as to uplift the existing situation of our management institutions.