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Reinvigorating, Redefining, Reinventing Management Education in India

Viresh Mathur

Balkrishna Industries limited, [email protected]

Kavaldeep Dixit International School of Informatics and Management,

Jaipur [email protected]

Tanjul Saxena Institute of Health Management Research, Jaipur

[email protected]

Selective subjects enjoy timeless discussion, debate, deliberation as well as continuous evolvement, conceptualization andtheoritisation. Management Education, by virtue of its ever evolving nature and uniqueness in terms of feeding to and being fed bythe real life practices well qualifies on these eternal parameters. The fast changing world of management today is characterized bytechnology transforming at the speed of light, well time-honored practices under surveillance, new rules of game losing relevanceeven before they are established and the human dimension compelled by never - before-sense-of-urgency. Management Institutesshould have sustainable good practices in governance and leadership, research, teaching, learning, evaluation and recruitment to

achieve academic and placement excellence. Innovative pedagogy, qualified and experienced faculty, industry – institute partnerships, industry mentors and state of the art fully integrated campus, have to be effectively coordinated for optimum results.There is need to professionalize management education, reinvigorate its purpose, enhance institutions accountability, re-attachtheory to practice, think beyond case studies and have niche courses. With opening of more IIM’s need arises to retain and sustainits brand equity.

1. IntroductionManagement education in India is today at cross roads with humungous demand for MBA degree on one hand and dearth of goodB-schools at the other. There are currently, over 1400 Business schools nation-wide churning out over 70,000 MBA’s each year.MBA programme run by reputed B-school aims to provide the learners a plethora of skills, abilities and knowledge that empowersthem to serve organizations with a high degree of professional competence. But, barring handful premium institutions most of themanagement institutions have failed to impart quality business education. Effective functioning of newly opened IIMs and IITswill be a daunting task considering limitations. According to a study conducted by University Grants Commission, 90 percent ofthe graduates passing out from Indian Universities are unemployable. Similarly, as per AICTE, 73percent of managementgraduates are not worth employing.

Management education is viewed as the diligent application of specialized knowledge for the resolution of complex problems ofgreat social consequence.The purpose of MBA degree is as follows:

To study the macro & micro contexts, within which business organizations must operate. To prepare for a lifelong career in business management acquiring skills and experience to merge effective strategies with

opportunities. To develop self-confidence and the ability to act wisely and decisively. To seek continuous improvement in individual learning skills and personal development and to work with confidence and

originality so as to make a meaningful contribution to society.

Thus, Management Education in India needs to have multi-fold Agenda: Contribute to National development and international recognition Foster Global competencies among future managers Develop as centers of excellence Inculcate values and sense of social responsibility among students

Enrich students with emotional and intellectual intelligence Focus on entrepreneurial orientation among students Be more aligned to corporate requirements

2. Review of Literature on Management EducationMasters of Business Administration (MBA) originated in the United States at the Wharton School of the University ofPennsylvania in the year 1881. The oldest “Business School” in the United States is at Dartmouth College, in Hanover, NewHampshire, founded in 1900. The Graduate School of Business at Harvard University was not founded until 1908. The purpose ofthese early programs was to provide management training for individuals who already possessed traditional undergraduate degrees.Thus the origins of the MBA lie firmly in the academic tradition of postgraduate university degrees.

The first MBA programs in Europe were started in the United Kingdom in the early 1960s. As the US model MBA developed inthe late 19

th and early 20

th century its legitimacy as a post-graduate degree and particularly the significant differences between

expectations by students and actual outcomes as seen by their future employers has been controversial.

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Business schools are beginning to move towards accepting the broader responsibilities of management in society. As one notableexample, more than two hundred business schools from around the world have voluntarily endorsed the Principles of ResponsibleManagement Education, a movement sponsored by the United Nations that promotes a view of business as contributing to a"sustainable and inclusive global economy".

The mission of the Principles for Responsible Management Education (PRME) initiative is to inspire and champion responsiblemanagement education, research and thought leadership globally. The Six Principles are:

Principle 1: To develop the capabilities of students to be future generators of sustainable value for business and society atlarge and to work for an inclusive and sustainable global economy.

Principle 2: To incorporate into academic activities and curricula the values of global social responsibility as portrayed ininternational initiatives such as the United Nations Global Compact.

Principle 3: To create educational frameworks, materials, processes and environments that enable effective learningexperiences for responsible leadership.

Principle 4: To engage in conceptual and empirical research that advances our understanding about the role, dynamics,and impact of corporations in the creation of sustainable social, environmental and economic value.

Principle 5: To interact with managers of business corporations to extend our knowledge of their challenges in meetingsocial and environmental responsibilities and to explore jointly effective approaches to meeting these challenges.

Principle 6: To facilitate and support dialog and debate among educators, business, government, consumers, media, civilsociety organizations and other interested groups and stakeholders on critical issues related to global social responsibilityand sustainability.

On the same lines in the manual for Self-study-Affiliated/Constituent Colleges issued by National Accreditation and assessmentCouncil have identified the following core values for its accreditation framework for Higher Education Institutions:

Contribute to National Development Foster Global Competencies among future managers Develop as centers of excellence Inculcating desirable value system among students Promoting the use of technology

Prof. UK Ashoke Rao, (2009) Dean, IFIM Business School, Bangalore discusses about leveraging ‘autonomy’ in B-schools toscript success. Professor Rao is of the opinion that the grant of autonomy to a B-school has twin objectives: One-To build a classof outstanding, sensitive and caring professionals with a human touch. Two-To translate the vision of the B-School by playing asupportive and an enabling role rather than as an overpowering controller. Dr D. Dhanapal, (2009) Director, Sona School ofManagement opines that higher education institution including B-school is supposed to be strong in three areas of education-Knowledge creation, dissemination and application.

Charles Gragg's famous article, "Because Wisdom Can't Be Told," argued that business cases promote independent thinking, asstudents inductively reason through the facts of a "real" case and gain valuable experience with the "real" business world. Ratherthan being "told" a preferred action alternative by the instructor, students compete to offer the most compelling view of appropriatemanagerial action. Barry Mitnick (2009), a professor of business administration at the University of Pittsburgh's Katz GraduateSchool of Business feels the classical case method suffers from severe limitations, at least as the primary way to deliver a course.

Rita Gunther McGrath (2009), a professor of management at Columbia Business School, USA, is of the opinion that Businessschools could -- and should -- play a terrific role in raising the standard of management. By doing this, they can help dig way outof the current crisis, create more globally competitive organizations and ultimately provide jobs and economic growth that alldesire. In her view to do that more effectively, academics should stop playing intellectual one-up-man-ship games with each other,and pay attention to what's happening in the real world.

Stacy Schmidt, Ed.D. - California State University, Bakersfield and David Ralph, Ph.D. – Pepperdine University have discussedthe decline in enrollment for MBA programs across the United States which demands a closer look at the curriculum of these

programs. According to Jennifer Merritt (2005), “applicants to Business Week’s Top 30 MBA programs have dropped almost30% overall”. Merritt found that business schools are to blame for corporate misconduct. In addition tuition fee has been soaringwhile salaries for MBA graduates has stagnated causing the loans accrued by MBA students to be as nearly as much as their basesalary. Furthermore, managers are starting to promote from within based on performance and less on degrees possessed.

Commenting about business schools in particular, Schoemaker (2008) notes that the traditional paradigm is not adequate foraddressing changes in today’s society. In more general terms, a special commission appointed by the U.S. Department ofEducation (2008) concluded that U.S. higher education “needs to improve in dramatic ways; that it is time to be frank; and that[education leaders] must not be blind to the less than inspiring realities of postsecondary education in the country.”

Specifically related to technology and high education, Fathi & Wilson highlighted, “Perhaps the largest determinant of changeacross higher education is the advent of new and emergent technologies. The Internet, and all other forms of electronicallymediated learning, continue to thrive across all levels of higher education, and are increasing on a daily basis.” This sentiment wasechoed by other experts in the field (Walkemeyer; Herrity; Rohm; Kennedy; personal communication, September 2009). Onequestion the experts were asked to consider for evaluation was: “What are the top 2 or 3 trends driving the future of the highereducation sector?” Walkemeyer, Herrity, Rohm, and Kennedy were all quick to point out technological advances in thetelecommunication industry (personal communication) as a significant trend in the external environment. Due to the advances inInternet and virtual classroom technologies Rohm and Walkemeyer predicted an increased decentralization from brick and mortarschools to more localized education through online programs (personal communication, September 2009).

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3. AccreditationBusiness schools may be accredited by external bodies certifying to stakeholders an independent view of quality, and indicatingthat the school's educational curriculum meets specific quality standards. The three main accrediting bodies in the USA areAssociation to Advance Collegiate Schools of Business (AACSB), which accredits research universities, the Association ofCollegiate Business Schools and Programs (ACBSP), which accredits universities and colleges, and the International Assembly forCollegiate Business Education (IACBE), all of which also accredit schools outside USA. The AACSB and the ACBSP areaccredited in the United States by the Council for Higher Education Accreditation (CHEA).

Accreditation agencies outside the United States include the Association of MBAs (AMBA), a UK based organization thataccredits MBA, DBA and MBM programs worldwide, the Council on Higher Education (CHE) in South Africa, the EuropeanQuality Improvement System (EQUIS) for mostly European and Asian schools, and the Foundation for International BusinessAdministration Accreditation (FIBAA) in Europe.

Accreditation standards are not uniform in Europe. Some countries have legal requirements for accreditation (e.g. most Germanstates), while in some there is a legal requirement only for universities of a certain type (e.g. Austria), and others have noaccreditation law at all. Even where there is no legal requirement, many business schools are accredited by independent bodiesvoluntarily to ensure quality standards.

There are many reasons for the wide differences in the quality of management education in different institutes in India. We dohave an apex body - the All India Council for Technical Education (AICTE), that is responsible for setting the basic framework,guidelines and standards for quality of business education, there are however many problems when it comes to implementation ofthese standards by MBA colleges and these problems undermine the effectiveness of these standards. It is important that AICTE

brings in more stringent norms to ensure opening of quality focused B-schools.The Knowledge Commission had questioned the relevance of too many government bodies in higher education sector. It had

suggested abolition of UGC, AICTE and their replacement by single, independent regulatory body. The Yashpal Committee alsoexpressed similar views.

More autonomy should be given to B-schools and Indian education sector should open doors to foreign Universities. Thenational accreditation of NBA and NAAC are the only two certification agencies in India for the higher education. No separate B-school accreditation system is in place. Indian B-schools need to go in for International accreditation along with ISO certificationto ensure quality.

4. Issues and ChallengesQuality of management education in India is a matter of serious concern among academicians and corporates. Proliferation of

institutions since 1990s has accentuated the problem. Institutions today over-promise but under-deliver. The gap betweenindustry’s expectations and delivery from the Management institutions is widening, posing big challenge to B-schools in future.The increasingly competitive global economic environment will in future continue to bring in set of challenges like:

Creation of new standards of institutional governance; Formulation of an academic delivery system that will have depth to create foresighted entrepreneurs and visionary global

leaders; Designing of curriculum which could incorporate passion for learning, imbibing of conceptual skills with scope for

experimentation and implementation in real life situations; Integration of best-in class management & ethical practices into academic offering; Attraction and retention of quality faculty; Leveraging of inter-institute and industry-Institute partnerships; International accreditation to bring in systems and checks to maintain quality; Focus on research as a key component of management education; Enhancing brand appeal of B-schools in India, to attract foreign students.

There are hundreds of management institutions in the country where the degrees are not worth the paper they are written on. Onthe other hand there are at least 500 blue chip companies in India desperate for talent. In order to install quality in managementeducation in India, MBA institutions / universities in the country have to focus on the following issues:

Quality of incumbents Quality of faculty State-of-the-art Infrastructure development Accountability and National/International accreditation Quality research & consultancy

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5. Strategies for SuccessThe fast changing business landscape and consequential environmental challenges poses various dilemmas along with potentialto consider possibilities of engagements like, academia-academia partnerships, academia-corporate alliances, internationalaccreditation, etc. Some strategies which can reinvigorate, redefine, reinvent management education in India in 2020 are:

Curricular Reforms There is requirement of radical curricular reforms so that curriculum contents align with the emerging National

and International trends. In selected B-schools, zero based budgeting approach is followed for offering courses wherein each year, the

validity of every course is examined and normally 20% new courses are included to substitute obsolete courses.

Extension of time frame of the duration of the programme can be considered with the third year focusing on part-time internship in the industry along with class interaction, through this students can bring forth everydaydiscussions on the table for everyone to contemplate upon and devise constructive solutions.

In the formulation, review and redesign of curriculum feedback from academic peers, recruiters, alumni andother stakeholders should be incorporated.

Curriculum needs to be updated on a continuous basis with focus on practical experience. Curriculum should have enough scope to allow students to look beyond books and think out of the box. Institutions should focus on launching sector-wise niche courses like, MBA in FMCG sector, MBA in

Automobiles, etc. Many organizations like Reliance, Ranbaxy, ICICI, Gati and Pantaloon has extended theirsupport to B-schools when they started sector specific management programs like, MBA in Banking, Insurance,Retail etc.

Institutions can also offer pioneering tailor-made industry oriented programs along with MBA degree. Sustainable curricular practices are required to be in place for achieving academic excellence.

Curriculum Delivery Mechanisms In the institutes experiential approaches should gain greater acceptance over predominantly teacher-centric

methodologies. Institutions have to focus on ‘learning and doing’ methodology where students are encouraged to showcase the

application of what they have learnt through a host of activities. Due to advent of Internet and virtual classroom technologies brick and mortar B-schools have to deliver more

localized education through online programs The emphasis of management education should not only be on involving the students in gaining knowledge but

also helping them relate concepts and theories to business requirements. Students should be exposed to conceptual skills with ample opportunities to apply concepts to real business

situations. Institutes need to work on development of the IQ and EQ level of students. Institutions need to work on making

students emotionally tough with effective time, stress and change management skills. Besides imparting academic knowledge Institutions need to work on building the right attitude among students to

have team working spirit and respect for the organizations culture they choose to serve.

Institutes will have to think beyond case-study method of teaching to involving students on real life projects. Institutions need to teach students minimum two foreign languages to cope up with globalization. The best case

in this regard is China which is focusing on English speaking and by 2015 it will have the highest Englishspeaking population.

To facilitate a complete professional grooming of the students the Wi-Fi campus and e-class rooms need to beequipped with state-of-the-art facilities. ICT tools should be effectively utilized.

To provide competitive edge to students institutes have to have full-fledged career-oriented vocational programmes.

According to Wikipedia, soft skills refer to the cluster of personality traits, social graces, ability with language, personal habits, friendliness and optimism that mark people to varying degrees. Soft skills complement hardskills so to have all-round accomplished personalities an exclusive Communication & soft skills course need to

be designed with an objective to acquaint the students with key aspects of personality development. Institutes should aim at mini-theatres, FM-Radio Station on-campus with the purpose of “edutainment” as well

as to train students in multifarious activities. Healthy living, meditation sessions, yoga practices and Art of Living sessions should be an integral part ofcurriculum.

Quality of Faculty Institutions need to focus on qualitative data rather than quantitative data like, an institution may have 16 faculty

but what is more relevant is their National & International exposure, quality publications, consultancy &research record, etc.

Faculty need to focus on knowledge creation and assimilation through conceptualizing ideas, developing feasible propositions and conducting active research.

Faculty has to inculcate among students attributes of reasoning, reflection, contemplation along with developingan urge for organic growth.

Faculty should focus on disseminating knowledge through effective teaching wherein, students comprehend andimbibe the concepts without mugging them.

Faculty should impart learning in an interesting and innovative manner and should be open to experimentation.

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Intellectual capital can be enhanced by innovativeness in teaching andragogy. Faculty need to work on expertise in specific sector in order to facilitate consultancy. The institutes must have core faculty in main areas of management. Faculty should meet at least one of the three

criteria requirements, namely - consultancy experience, research experience in management or knowledge of thelatest management trends.

Faculty should focus on quality research publications and participation in academic forum. International experience is must in today’s globalized scenario and with most institutions opening their branches

outside India; it becomes all the more relevant for faculty to have international exposure. A right balance is required between permanent and visiting faculty. Visiting faculty is must for developing a

symbiotic relationship between academic knowledge and practice but at the same time permanent faculty’scontribution in enriching the academic environment of the institution cannot be ruled out. There has to be a

perfect blend of internal faculty, senior corporate executives and eminent professors, from India and abroad, asvisiting faculty.

Research & Consultancy Quality research outcome should be a focal point which should benefit society and corporates. Live research

projects need to be undertaken by the student faculty dyads on behalf of the companies. Such innovativecollaborative arrangements are beginning to take realistic grounds already. Many a progressive organizations(specifically Pharmaceutical Industry Companies) are approached by the Institutes and encourage live projectson a quid-pro-quo- favour of offering placements to the qualifying candidates. Faculty also needs to pro activelystep out and seek corporate assignments and then transfer their learnings in writing and in the class room.

In-house journals by institutions are not important but quality contributions by experts to make the journal arefereed one is more significant.

Indian institutions in collaboration or individually should come up with a quality journal of Harvard BusinessReview repute.

Theoretical and practical findings of research have to be disseminated through various media. Expertise and specific knowledge base of faculty is a major input for effective consultancy.

Entrepreneurial Orientation Institutions should aim at making “Genius out of Idiots (Inspiration- Blockbuster movie 3 idiots)” by tapping

their untapped risk-taking abilities. Students during their programme duration should come up with entrepreneurial ideas, try them out at a small

scale, package them and market them. Who knows how many Kishore Biyani and Karsanbhai Khodidas Patelare in making?

Thinking out of the box is more required today than ever before. Institutions should foster spirit of innovation and entrepreneurship in students by organizing relevant Business-

Plan contests and organizing sessions of experts from various potential sectors to embed spirit ofentrepreneurship.

Institutions need to cultivate entrepreneurial orientation in students through specially designed programmes.

There is need to build institutional capacity for world-class entrepreneurship programmes in order to generatemore employment for the nation.

Attendance & Evaluation Institutes should not have attendance monitoring systems but instead a conducive learning environment where

learners are self motivated with focus on optimum utilization of academic, infrastructure and learning resources. In selected management schools in US, for assigning weight-age to each course cafeteria approach is followed

wherein student select courses of his/her choice to accumulate certain given number of credits. The sameapproach with some modifications can be tried out in India.

Evaluation procedures should be fair and transparent so that the students know their scores and the basis ofscores. Evaluation sheets should be shown in the class with five best booklets displayed in the library.

The incumbents should focus more on knowledge gaining rather than scoring marks.

Social Connect Programmes Institutions have to be responsive to the community needs and conduct socially relevant programmes. Students are not only corporate ambassadors but also social messengers so to sensitize them on communityissues; they should be actively involved in NSS and Extension activities. Students need to be encouraged to be

members of Social Bodies for organizing social campaigns and spreading social messages. For effective corporate governance in the long run students have to be oriented towards Corporate Social

Responsibility in the early years.

Leadership & Governance The vision and mission of the institution should inspire and guide the management and staff to efficiently carry

out the institutional process. The institutional leadership should provide clear vision and the organizational hierarchical structure should be

conducive for effective administration, internal co-ordination and monitoring. Efficient management and retention of human resources should be given prime importance. Management should

pay the faculty as per latest pay commission norms and if feasible at par with their industry counter-parts.

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Devising strategies to focus on continual intellectual capital development. Designing ways to create strong research base. Working on strong industry interface and corporate linkages.

8. ConclusionsRemembering words of Napoleon “Concentration of efforts and habit of working hard with a definite future aim are the twoessential factors in success which are always found together, one leads to other” Management education by institutions of higherlearning should not be treated as a qualification that can be taught, but rather a value addition which empowers ordinaryindividuals to undertake extraordinary challenges and implement effective strategies to overcome the same. There is need forcorporatization and professionalization of management education which is intensive, fast-track and fine tuned to the requirementsof changing times. To be globally responsive and socially conscious, institutions have to be committed to innovation and creativity

by developing and disseminating knowledge and practice for learning and resource use optimization. B-schools have to aim foroptimal blend of value based growth and future preparedness, leading to prosperity of the society and nation at large.

9. References1. Tarun Khanna, Jorge Paulo Lemann Professor at Harvard Business School, The Poor as a Market, Forbes India, Volume

2, Issue 11, June 4, 2010 pp 106-107.2. India’s Best Business Schools Directory-2009, Dalal Street.3. http://www.unprme.org/the-6-principles/index.php.4. http://en.wikipedia.org/wiki/Master_of_Business_Administration.5. http://hubpages.com/hub/External-Factors-That-Could-Impact-American-Higher-Education.6. www.aacsb.edu/accreditation/standards.7. How To Fix Business Schools June 28, 2009http://blogs.hbr.org/how-to-fix-business-schools/2009/04/dont-blame-the-

business-school.html.

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