The Gap in Management Education in India An Agenda for Reform Essay Example

of these courses offered nationwide has significantly increased. However, despite this growth, the industry is finding that newly graduated MBAs do not meet their expectations in terms of knowledge base, skill set, and attitude. To address this issue and identify the existing gaps and determine their specific locations, the authors conducted an investigation. Additionally, they explore potential solutions to minimize these gaps.

Introduction

The main problem arises from the substantial disparity between the real world and the academic world.

The theoretical model presented to students in Business schools is much simpler and more predictable than the real world. The two years/one year of management education should teach students to have a practical mindset, seeing things as they are without preconceived notions. There are three main categories that define the traits of a highly successful manager: Attitude - This is the most important quality in a manager/leader. "We hire people for attitude and develop them for the skills" - As one respondent shared in a skills gap survey.

Attitude is a crucial trait that is shaped by an individual's personal experiences since childhood and is difficult to teach or alter. If a professional possesses the right attitude upon joining a company, they can acquire the necessary skills through training. Conversely, if someone lacks the appropriate attitude, they may become a liability rather than an asset for an organization. Therefore, B Schools should prioritize cultivating these qualities in their MBA students to fulfill the main objective of management education: developing exceptional managers and leaders. Now, let us outline the characteristics of an ideal B School capable of producing successful managers.

The characteristics described in Figure 1 can only be effective for instructional

purposes if they meet specific requirements outlined in Figure 2.

2. Admission Process - The admission process for various B schools in India involves a written test, followed by a group discussion and personal interview. While this process is generally good, it does have some inherent weaknesses. There are highly intelligent students who may not perform well in aptitude tests but possess the potential to become excellent managers due to their unique perspectives on life and life experiences.

Despite the rigorous process, these students often get overlooked. Faculty recruitment should prioritize not only grades and research achievements, but also individuals' non-academic accomplishments. It is important to consider whether they can apply their knowledge in real-world scenarios and if industry professionals recognize their expertise. This attribute becomes crucial for faculty members, as MBA education necessitates practical examples that students can connect with.

Is he well-informed about the latest developments in his field or does he still rely on outdated theories and examples from textbooks? If someone has extensive experience in a field, their requirements for teaching should be relaxed when selecting faculty. There is a need to improve the curriculum and pedagogy by aligning it with the current demands of students' chosen careers. An ambitious MBA may think they are all-powerful after graduating college, but knowledge is contextual, meaning that a theory successful in North America or Germany might not work in India or Bangladesh.

We need to consider indigenous theories that take into account the Indian culture and preferences. In the research scenario, many research scholars drop out before completing their thesis because they receive lucrative offers from the corporate world while still studying. As a result, the academia

loses talented individuals to the corporate and professional world, and misses out on new research and insights that could have been discovered in the process. To address this issue, writers have suggested the following approaches for dealing with the current management education trend in India and its implications. The writers emphasize re-engineering processes within the existing academic structure of a B School, rather than advocating for policy changes or proposing solutions that require significant financial investment.

Inclusion of Management topics in School course of study:

Subjects should be included from 8th to 10th standard degree, providing an overview of direction topics and their relevance in the existing universe. By introducing foundational concepts in business topics at this formative age, students will be able to understand the importance and relevance of management as a subject. Additionally, they can determine if management is the field they want to pursue in their professional or academic career in the future. This will result in a more focused pool of applicants to B Schools who are interested in studying Management. However, the challenge lies in introducing these basic management topics, which will require effort from educational establishments and government bodies to recognize its importance for students at an early stage and ultimately implement it. The approach towards these topics at the school level should be more practical and enjoyable for students.

Foundation boot camps for freshmen, who do not have work experience, are necessary to instill an organizational and industrial mentality. B-Schools across the country have a significant percentage of freshmen who have just completed their undergraduate degrees. However, this poses a paradox because freshmen without prior work experience lack the necessary exposure

and industrial mentality. This can hinder their learning process as they struggle to relate management concepts from the book to real-life situations without any prior work experience.

However, it is also a blessing because these freshmen have not been influenced by any corporate culture yet and approach management concepts with a fresh perspective. To introduce them to the mindset of experienced industry professionals, foundation boot camps can be conducted within the first 2-3 weeks on campus. These sessions can include activities such as "A Day in the life of an executive," "How Directors think," "How leaders see," and more.

Having a boot camp can provide individuals with a realistic idea of what to expect in a career and how different fields operate in a practical sense. The purpose of the boot camp is not to impose new ways of thinking upon newcomers, but rather to encourage sharing and learning from others' experiences. Inviting professionals from various industries, as well as participants themselves, to discuss their encounters with the business world and other organizations can be an effective approach. There are numerous innovative methods for organizing boot camps.

Let's say the batch consists of 100 people, with 40 people having work experience and 60 people being freshers. The 40 people with work experience can be categorized by industries and the total duration of their previous jobs. After this, we can conduct knowledge as well as Q&A sessions industry-wise for the entire batch. Analyzing Indian Texts on Management: Harish Bijoor, a management consultant, believes that Indian managers are still influenced by Western management doctrines.

"I frequently reference texts such as the Ramayana during my corporate sessions around the world. It's

ironic that countries like Germany and France are adopting the wisdom of the Vedas, while our own people are still enamored with Western doctrines. The principles of modern-day management were mentioned and practiced in India over 2,500 to 3,000 years ago. The ancient Indian scriptures offer valuable insights for tackling various issues, from management strategies to corporate governance, in today's highly competitive business world. Motivational gurus and management experts like Deepak Chopra, C.K.Prahalad, ArindamChaudhuri, Shiv Khera, and Mrityunjay B. "

Athreya is incorporating elements from ancient Hindu scriptures to navigate modern management challenges. Integrating Indian management techniques with western approaches adds value to management education. The Bhagavad Gita discusses modern concepts such as vision, leadership, motivation, excellence in work, goal attainment, finding meaning in work, decision making, and planning. However, there is one key distinction.

The Bhagavad Gita addresses the issues of human thinking at a fundamental level, in contrast to Western thought which often focuses on superficial and peripheral problems. It specifically targets the needs expressed by the corporate world, such as the attitude of management professionals and their required skills and knowledge. Kautilya's Arthashastra is not just a book, but rather a comprehensive collection of management wisdom. Chanakya, who authored this work, can be seen as a university rather than an individual. Even today, the management ideas outlined in Kautilya's Arthashastra are highly relevant in the corporate world. Considering the intricacies of business, this text aims to anchor itself in areas that have a significant impact on short, medium, and long-term success.

The text emphasizes the importance of human behavior in Kautilya's Arthashastra. According to Mr. Balakrishnan M, the book demonstrates a deep understanding of human

behavior and its application in modern management, including the leadership qualities of Lord Rama in Ayodhya and various management concepts like EQ, MBO, Kaizen, strategic planning, and organizing principles, which can be traced back to Valmiki Ramayana. The extensive narrative of Mahabharata is filled with morals, principles, role models, positive inspiration, and righteous ways. All characters in Mahabharata can be seen as leaders of India, Inc. across different generations.

All aspects of modern direction, including human behavior, organizational behavior, group theory, motivational theory, game theory, direction by aims, and line of control, can be found in Lord Krishna, Arjuna, Bhisma, Dronacharya, and others. Therefore, by learning from these rich sources, students can have an enriching learning experience and become effective directors. They can better understand and relate to the Indian texts, which will enhance their learning and performance in various areas assessed by companies. The challenge lies in developing a structured learning process for MBA students to study these Indian texts. This requires effort from both faculty and researchers who have contributed in the field of management learning from Indian texts.

The emphasis on research on college campuses differs between top-tier B schools in India and schools like Harvard and Yale. While the focus in India is primarily on earning at the end of education, these top schools prioritize research. MBA schools have the opportunity to bring together many bright minds on campus. By leveraging this opportunity and using innovative techniques to promote discussion among students and faculty, new insights can be generated from real-world business experiences. This approach moves beyond traditional learning from books and lectures during management education.

Students should ask themselves the following questions: what

unique perspective do I bring to this world as an individual? What absurdities do I observe in the world around me? How can I utilize my unique strengths? Once these thoughts are compiled, they should be applied to business and documented. This process will result in a valuable collection of thoughts and insights from the students. The research should not be viewed as a mere formal presentation of ideas in a research paper format or publishing them in management journals. Instead, it should encourage a fresh approach to gaining insight about life in general. Management involves effectively managing one's life, requiring self-awareness and a meaningful perspective on the world that can lead to action.

The "Do Can" attitude should be a result of cognition and position, not just involving theories and case studies. It provides an opportunity for students to understand themselves, develop a unique perspective on the world, and have a sense of direction regarding their strengths and desired contributions in both commercial and holistic aspects. One difference between academics and the real world is that in academics, formal presentation and manner of information often outweigh the insights they offer. However, we are witnessing a practical research culture that yields many insights on how the business world functions.

We aim to provide the student with a practical and grounded approach to implementation in the real world, rather than simply memorizing theoretical concepts from a management textbook. Critical thinking and contextual evaluation are necessary for developing a hands-on perspective. This can be achieved by focusing on the surrounding reality and fostering a unique and personalized viewpoint. The MBA program should not be seen as a factory for

producing managers, but rather as a space that empowers students to become leaders in their own individual way.

He develops a stance on the universe and is prepared to confront his own personal conflict regarding earning potential in academia versus the corporate world. A professor at IIM earns approximately one-tenth of the salary of an IIM alumnus, and salary increases are infrequent, sometimes occurring only once every seven years. This conclusion can be applied to the comparison of opportunities in teaching as a profession versus working as a professional in the corporate realm. It appears nearly impossible to attract talent from the corporate world and retain them as faculty members. The financial disparity is significant and it discourages highly capable individuals who have a genuine interest in pursuing a career in education but choose to work in industry due to better economic prospects.

To address this issue, we have considered reducing the financial gap observed in the US, where professors earn similar salaries to those in the industry. Are professors paid higher wages? The answer is "No". They earn significant income from corporate projects they undertake alongside teaching. Therefore, B-Schools that focus on building corporate relationships for internships, student placements, and inviting industry professionals to provide industrial knowledge to students should also assist professors in obtaining corporate consultancy projects. Experienced professors who have connections with the industry face less difficulty in securing such projects. However, newcomers to B-Schools without prior industrial work experience struggle to obtain these projects due to a lack of networking links with the industry. In such cases, the placement committee, which is a crucial part of a B-School, should collaborate with professors who

have corporate connections to help new faculty members obtain consultancy projects.

Baging corporate consultancy assignments is not the only consideration, but also delivering them successfully with the highest levels of client satisfaction is important. Most Indian b-Schools are focused on a standard learning process, and the faculty members are spending most of their time on teaching and learning, leaving little to no time to secure and deliver corporate consultancy assignments. Therefore, flexibility in teaching hours must be provided to the faculty members to address this issue. "I found that unless you have truly competent administrative support, a significant amount of the faculty's time is spent on administrative work," says Shekhar Chaudhuri, Director of IIM Calcutta. Additionally, the teaching staff is also involved in administrative tasks due to a lack of sufficient staff members and high-quality individuals in the administrative team.

Therefore, it is important to improve the efficiency of the administrative section of any B-School by hiring qualified professionals for administrative tasks. Are faculty members primarily motivated by money? Outside professional consulting affects faculty behavior and activities within academia. The practical knowledge gained by MBA graduates depends on how much influence faculty members have on their research and academic goals through their professional relationships. The knowledge shared by faculty members is supported by practical aspects that are demanded by companies, as MBA graduates often struggle to apply the concepts they learn in management education. Additionally, it has been noticed that faculty members are not conducting the research valued by companies and practicing managers. By engaging in corporate assignments, faculty members can better understand the challenges faced by industries, align their research accordingly, and have their work valued

in the corporate world.

The task at hand involves determining the level of confidence in the corporate world to such an extent that they can swear by them and provide a consulting assignment that benefits both the module member and the corporate universe.

Decision:

The authors believe that, given the current trend in management education in India, there is a strong need for a review of MBA education and its teaching methods. All problems have an economic aspect that causes the problem in the first place. To improve the MBA educational experience for students, a significant amount of resources, both financial and human, are necessary. However, with innovation and creativity, one can overcome these obstacles and succeed without having too many resources at their disposal.

Various solutions and strategies have been proposed in order to address this issue. These include educating students about relevant topics from an early age, establishing specialized training programs for new students without work experience to level the playing field with their counterparts who have work experience, emphasizing the importance of drawing insights and wisdom from ancient texts from India and Asia, focusing on management research within the campus setting, and facilitating collaboration between faculty and industry experts for consulting projects on campus. By giving students the opportunity to engage in live consulting projects on campus, they will be able to apply theoretical management concepts to real-world situations. Ultimately, the essence of management lies in one's ability to work effectively with others and have a clear understanding of the bigger picture without distortion. Therefore, the most crucial requirement is to develop leaders who possess a holistic mindset and not just a narrow focus on their

company's financial success. We need leaders who demonstrate compassion and are not solely driven by profit.

We need leaders who have a strong understanding of human history and are committed to creating a better future for all of us.

Bibliography and Reference:

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