FUTURE OF MANAGEMENT EDUCATION

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FUTURE OF MANAGEMENT EDUCATION

The future of management education hangs in a precarious balance with hundreds of Business Schools closing education down. With around 3500 business schools & 3,00,000 students, this Resource should have been the harbinger of real change, building on innovative management models & disruptive technology. Instead of quality management Human Resource disrupting the economy to unparalleled success, the ecosystem has disrupted them. The schools & the industry are in a Catch 22 Situation.

The top class business schools led by IIMs remain the same, churning out MBAs mostly fitting as cog in the wheel of the huge corporate machine. Unfortunately, any attempt to research has not been devised leading to lack of good quality faculty members – the main tool to impart quality education creating industry ready students. Students follow the flavour of the day; any degree to get a job.

The business environment is becoming more challenging by the day, automation is raising its Hydra like head. The course, curriculum & the content has not seen much change nor the teaching pedagogy but for ppt projection, some stale videos, half baked internships etc. The placement cells seem to broker a job for the student, he feels his right after making hefty payments.

There is no country specific design in a supposedly global education, but most students need local employment. Degrees don’t provide the skills & competencies required. How is the serious art & science of entrepreneurship imparted? Product & Project mindset is the key. Fairly tale stories are still to emanate out of Start Up India, the Govt. creating a congenial ecosystem. Entrepreneurial successes like Elon Musk, Demis Hassabis have to studied in detail to make a sense of business today. Indian business case studies? Ultimate successes of Jamnagar Refinery & Delhi Metro remain broadly undocumented. Innovation & entrepreneurship has to become the DNA of management education.

DISRUPT MANAGEMENT EDUCATION TO DISRUPT THE COUNTRY’s BUSINESS.

Sanjay Sahay

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