Growth globalization and indian management education
Management Education in India is at cross roads. With the dawn of new millennium, while there was phenomenal growth in the number of B-Schools, the benchmarks were also on the rise. The Globalization doesn't seem to have happened just to the Industry but also to Indian B- Schools. The expansion of B- Schools (in Number) doesn't look to be in line with the challenges posed by the globalization of Indian Management Education.
Of the 1500 B- Schools India currently has, there might be around 200-250 schools, which might stand a standard test of quality. Should the globalization of Management education India become a reality in terms of free movement of faculty and freedom of operations across the globe, the Indian B-Schools might have to take many initiatives to stand up to the challenge. The solution seems to be,' While the affiliated colleges are needed to be more autonomy-both financial and academic, the autonomous institutions have to strengthen their curriculum'"Talent acquisition, transformation and management are critical anchors for the growth of the industry"- Nandan Neilkeni
Management Education should focus on turning out graduates with the relevant skills to succeed in a global market place.Introduction
In this information age people's knowledge, skills and their relationship capabilities have become critical assets for organizations. In this context, it has become vital for every organization to attract and retain the best available talent.
In the present days where technology has made spectacular progress and revolutionizes the work in every field, particularly in the corporate world, it is not the physical assets which are gaining
importance but talent has emerged as the forerunner in determining the worth of the organizations.
As such, sourcing for best talent continues to hold prominence for the organizations. Worldwide
organizations are subjected to heavy pressure due to the declining supply of talent. According to a recent report, over a decade, the demand for talented people exceeds the supply of skilled workers at all levels and in all industries.
Management Education in India is at cross roads. With the dawn of new millennium, while there was phenomenal growth in the number of B-Schools, the benchmarks were also on the rise. The Globalization doesn't seem to have happened just to the Industry but also to Indian B- Schools. The expansion of B- Schools (in Number) doesn't look to be in line with the challenges posed by the globalization of Indian Management Education.The Growth & Structure of B- Schools
The B- Schools in India are mushrooming-specially for the last few years. As on date there are about 1500 B- schools in India. Table 1 provides a snapshot view of growth of B- Schools in India.
Length of the period (years)
No. of B- schools set up
Table 1 Growth of B- Schools in India
Table 2 provides the approximate distribution of B- Schools across the several categories
No. of B- schools
Top notch Govt./Quazi Govt. B- schools
Private Autonomous B- Schools
University Affiliated Colleges
Table 2 : Categorization of B- Schools in IndiaGlobalization of Indian Management Education
Management Education is becoming truly global in terms of content, delivery & reach. There is already much of globalization with major B-Schools designing and delivery their programmes with global outlook and focus .
The globalization now talked about is the entry of foreign B- schools into and expansion of our B- schools out side India.Definition of Business Schools
A business school is normally a university-level institution that teaches topics such as accounting, finance, marketing, organizational behavior, strategic planning, quantitative methods, etc. These include schools of "business", "business administration", and "management". It must also make students aware of application software such as ERP, POS, Simulation, SCM & logistics. In addition to this they must also get to learn of the actual running of an enterprise. A business School is an entity by it self and can not be run as a department of a technical school now. Business school must have a branding and that can come from the quality of teaching and their richness. The alumni bring prestige to the school. Placement is a sequel to quality of teaching staff and education provided in the school.MANAGEMENT EDUCATION AND TALENT ACQUISITION
India is increasingly being hyped as an emerging economy. There are various predictions which
show India will be one of the leading economies in the global knowledge. The knowledge economy, which is increasingly dominated by services sector, needs and depends on knowledge workers. Institutions of higher learning, like business schools (B-Schools), have a critical role in creation of knowledge and supply of knowledge workers. B-Schools are going to face a lot of challenges and opportunities in the global knowledge economy. The big issue is how to compete in his changed scenario and take advantage of emerging opportunities. To take advantage of these opportunities and fight the competition Knowledge Management (KM) could be the best tool for B-Schools. Knowledge management is globally accepted tool for creating sustainable competitive advantage.Defining Talent and Talent Acquisition
Talent is a whole set of intuition, reasoning, insights, experiences related to customers, products,
processes, markets, competition and so on that enable effective action. Talent Acquisition is a
systematic, organized, explicit and deliberate ongoing process of creating, disseminating, applying, renewing and updating the knowledge for achieving organizational objectives Talent Acquisition has three basic elements:
1. Generation of new Talent
2. Dissemination of the Talent
3. Application of the TalentPresent situation in India
Private business schools in India are running as departments of technical colleges and that must change. The private education institutions must think seriously to make separate institutions imparting quality management education. Benefits of such reorganization will be immense to Students will get better education and placement. The institutions will have a chance of getting higher fees from students for giving them such an ambiance. As I understand marginal utility of Management education is so high that students will be willing to spend their two years of expected income on such education. For Institutes to get good companies as clients branding should be a conscious effort of the institutions and that can be achieved by regular seminars and short courses conducted in association with the industry and industry associations. Following are some of the things that can be done while setting up such an Institute:
â€¢ There has to be participation of the corporate in the institute
â€¢ The Institute must be visible to the corporate
â€¢ Institute will have to organize seminars inviting Industry participation
â€¢ Regular interaction with Industry in terms of lectures will have to be organized
â€¢ There has to be separate identity for the Institute
â€¢ Campus will have to be 24x7 open for the students
â€¢ It has to be located in an area where some of the teachers can stay in the same campus along with the students who will stay in the hostels.
â€¢ Appointment of professors should be done with care. People who have had industrial experience are needed so that they can bring in projects from Industry
â€¢ Regular participation of professors in TV show to be encouraged and that also increases visibility.
Background of the students to be taken in should be given some preference at the time of selection this will help placement. It is a business degree and those who can perform in short time in the industry need to take this course.
â€¢ Students must be involved in projects (in house and out side)
â€¢ Professors must be able to get projects on their own where students will be involved.
â€¢ Institute has to be in the news all the time for some reason or the other.
â€¢ Head of the institution should be a permanent invitee to the chamber of commerce.
â€¢ Some of the professors should be advisor to the industry.
â€¢ 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 some thing like that should be made an image that would identify with the institute.
â€¢ Some business should be attached with the institute where the students would be able to actually test their knowledge. For example the present project team should take students from Civil and management to monitor and complete the projects. Students will get exposure and work will be done well.
â€¢ 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.
â€¢ 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.
â€¢ Institute can create a chair for people in the industry.
â€¢ A website is to be designed.POSSIBLE SOLUTIONS:
Indian B-Schools are not recognized as centers of Talent creation. For creating new Talent, the BSchools should take certain concrete steps as discussed here.
Top Management Involvement and Commitment:
Research is a long term investment and process and for that the involvement and commitment is a must.
Research Strategy and Focus on Niche Areas:
Management is a vast area and resources are limited. So the B-Schools need to have a well defined research strategy and should focus on niche areas.
Create Research Culture:
It is the most difficult part, and B-Schools need to put special emphasis on that.
Involve Students in Research through serious summer training and research projects etc:
The summer training and research project in most of B-Schools has become just a routine formality.
Focus on the Quality and Credibility of Research :
This is another area of concern in research in Indian B-Schools. Most of the research, particularly Ph. D. find little quality work or credibility or utility in the industry.
Focus on Action Research & not on research for the sake of research and collaborate for Research:
Research is a resource intensive activity. It is surprising when companies and governments are
going for cooperation in research there is not much cooperation among B-Schools should use other ways of knowledge creation like networking or adaptations which can help a lot in saving the resources, reinventing the wheel and reducing the time involved .
Globalization of Research:
It is surprising to know those while corporate are going global, the research in B-Schools in India
has been limited to the particular B-Schools. The B-Schools have not globalized their research
The B-Schools have not updated the curriculum with the changes in the environment and industry. The B-Schools are time and again criticized for teaching what they want to teach instead what the industry wants. It's interesting to note that business and countries are going for globalization but not the B-Schools or their curriculum. In order to have a better global exposure, to suit the requirements of industry under globalization there is a pressing need for globalization of management education .The education must be global in its outlook and content must be multidisciplinary. It is surprising when companies are going for customer centric models; management education is not being customer-driven. Ironically, there have not been studies in India on what the customer wants from management education. Schools need to provide more options and flexibility in curriculum. More recently, business schools have been criticized for not doing enough to set an ethical tone. To some, the quantitative seems to have driven out the moral, and the scientific appears to have overwhelmed the human. Business schools do not need to do a great deal more to help prevent future Enron's; they need only to stop doing a lot that they currently do. They do not need to create new courses; they need to stop teaching some old ones.
Research on India specific teaching material:
This is one of the most crucial areas that need attention. Though there is some progress on developing teaching material in Indian context, still there is need for developing more and updated teaching material on Indian context.CONCLUSION
In this Global Talent Economy, Institutions of Higher learning in general and Indian Business Schools in particular, have a huge responsibility of creating new Talent and Talent workers. The BSchools are being criticized on various aspects and they are increasingly facing a lot of challenges and opportunities in the Global Talent Economy. The big issue is-how to compete in this changed scenario and take advantage of emerging opportunities. If the B-Schools can continuously create new Talent related to curriculum, customer needs, environmental changes, pedagogy etc; disseminate it continuously and effectively; and implement it properly then they can face the coming challenges of competitiveness in the global knowledge arena and play a big role in making India a global economic superpower.
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