Benchmarking in Management Education - Way Ahead


By
H.L. Nagaraja Murthy
Assistant Professor
Bharati Vidyapeeth University
Institute of Management and Research
A-4 Paschim Vihar, New Delhi-110063
 


ABSTRACT

Objective: Management education is considered as elitist as it attracts young men and women which are usually motivated by the positive consequences associated with management education. In India higher education especially management education is witnessing exponential growth in terms of number of institutes imparting management education usually termed as Business School. Hence benchmarking of higher education in management studies is essential and need of the hour.

Design: Analytical and Descriptive studying various sources dealing with management education and its prevailing scenario. The origins of benchmarking depicts main reasons for its growth and popularity in the private sector have included: meeting the requirement for increased effectiveness, caused by greater international competitiveness; the development of an interest in enhancing quality and the consequent growth of the quality 'movement'; and the rapid growth of information technology which has made sophisticated data collection and management possible. Such developments within the commercial sector have been quickly followed by similar initiatives within the public sector in many countries, and a growing literature is now available on total quality management (TQM) and benchmarking within non-profit organizations. Inevitably higher education has also expressed interest, although currently more in the application of TQM than in benchmarking in higher education and in particular in Indian management education.

Approach-Findings: However, the application of benchmarking is not without both conceptual and practical difficulties, and there are major difficulties with nomenclature, both in term of the managerial language in which much of benchmarking is couched. And also in the way that the specific term 'benchmarking' is defined which tends to conflict with the everyday use of the word within institutions. Extensive research studies identifies a wide range of approaches which fall within the practice of benchmarking which construct a two dimensional matrix which enables different forms of benchmarking to be identified for comparative purposes, The use of such a framework may help to reduce the problems caused by terminological and conceptual confusion. Recent developments in the application of the concept of benchmarking with higher education, with particular reference to higher education system in India concerns with the enhancement and assurance of quality and drive to increase the effectiveness of university management benchmarking is directly relevant to current UNESCO concerns which is crux of the policy paper 'change and development in Higher Education in its overview of the concept of benchmarking in management education. This paper explore the present situation of management education in India after financial turbulence of USA and the case like Satyam in India, trends prevailing in management education in India, and tries to find out implication of management education in India on Industry and individuals. Further it tries to study and tackles emerging issues of management education, and to find implementation of possible direction and policy towards improvement of management education in India..

Keywords: Quality Management Education, Management, Business School, UNESCO concerns, financial turbulence, change in corporate structure, professionalism, need for competent qualified faculty, infrastructure, and course curriculum- programs.

H.L.N. Murthy – M.A, M.Phil and PGDPMIR has 22 yrs corporate with 10 yrs of academic experience.

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BENCHMARKING IN MANAGEMENT EDUCATION - WAY AHEAD

By
H.L. NAGARAJA MURTHY
Assistant Professor
Bharati Vidyapeeth University- Institute of Management and Research,
A-4 Paschim Vihar, NEW DELHI-110063
E-mail: nagaraja.hln2002@gmail.com  Mob: 9891091998

Management education in India is fast undergoing a radical change. The two current developments sweeping India, namely liberalization and globalization, have had a considerable impact on management education. Today there are over hundreds of thousands of management institutions in the country. This vast number of Business Schools needs to satisfy a series of questions such as, impact they cast on the quality of management education, the ultimate destination this proliferation lead to, and the quality of managers produced by these management institutions in future.

This being so, the other side of the story shows the concern for the Business School professors is how to produce good managers with the attributes of increased efficiency and effectiveness, ethics, knowledge, fluency to apply management concepts, theories and tools. We shall examine the areas of concern, the key issues which the apex institution, AICTE should focus upon in uplifting the management education and making Indian MBA world class.

When we talk about the management education, we are basically referring to the shaping up of the student to develop the competency and capability either as an entrepreneur (to join and help an organization to grow) or as an entrepreneur (to establish and grow one's own organization). This capability does not necessarily always come from possessing a piece of paper whether called "degree" or "diploma" in Management, but also by means of developing the will & skill to contribute for Self reliance and self sustenance in nation building process. The existing system of Management Education is alienated from real life. There is a gap between the subjects and the objectives and this cannot achieve such goals as national development, building ethical, religious and spiritual values in the business. The Key areas identified for detailed study under the present paper are – Benchmarking for quality in management education so as to create an enduring Indian corporates, professionalism in MBA education, need for creation of a competent body at the highest level by the Act of Parliament like CA/ICWAI/ACS, and need for adequacy of qualified and competent faculty fraternity, proper state-of-the art infrastructure facilities, course program etc.

Benchmarking for quality in management education:

Benchmarking with the world best gives inspiration. They are teaching today knowledge and technologies of tomorrow. They are continuously being updated. They remain ahead of time teaching sunrise technologies. This is the key to success. Can we not? Certainly yes! We need to have a dream to lead in technology, and not merely follow. The mission for Management education should be to become innovative and creative. Management bodies of Institutions must facilitate them to be so.

Objectives of Bench Marking

Making our Students Employable
Moving the Institution from Academic mode  to Corporate mode

Agenda:-

To identify the Industry expectations of the Skill sets required of the students in general, so as to make them more competent and employable.

To identify the Areas of Total Quality Management in Management education

To identify the changes required of teachers of the Management education
Skills required for Students.

The paper unveils recent developments in the application of the concept of benchmarking with higher education, with particular reference to higher education system in India concerns with the enhancement and assurance of quality and drive to increase the effectiveness of university management benchmarking is directly relevant to current UNESCO concerns which is crux of the policy paper 'change and development in Higher Education in its overview of the concept of benchmarking in management education.

The origins of benchmarking where the main reasons for its growth and popularity in the private sector have included: meeting the requirement for increased effectiveness, caused by greater international competitiveness; the development of an interest in enhancing quality and the consequent growth of the quality 'movement'; and the rapid growth of information technology which has made sophisticated data collection and management possible. Such developments within the commercial sector have been quickly followed by similar initiatives within the public sector in many countries, and a growing literature is now available on total quality management (TQM) and benchmarking within non-profit organizations. Inevitably higher education has also expressed interest, although currently more in the application of TQM than in benchmarking in higher education and in particular in Indian management education.

However, the application of benchmarking is not without both conceptual and practical difficulties, and there are major difficulties with nomenclature, both in term of the managerial language in which much of benchmarking is couched. And also in the way that the specific term 'benchmarking' is defined which tends to conflict with the everyday use of the word within institutions. Extensive research studies identifies a wide range of approaches which fall within the practice of benchmarking which construct a two dimensional matrix which enables different forms of benchmarking to be identified for comparative purposes, The use of such a framework may help to reduce the problems caused by terminological and conceptual confusion.

But it is crystal clear that significant amount of interest is currently being demonstrated in the higher education systems reviewed, and particularly. in our country and in Australia where a number of major benchmarking projects are in progress. Nonetheless, the authors of these Chapters express reservations about the extent to which some of these initiatives fail to extend beyond the use of quantitative statistics and performance indicators, and do not focus fully on an exploration of process which is at the heart of most conceptions of benchmarking.

Keeping in view of the pioneering activities are taking place in Indian Education system where Management education benchmarking is described, and this involves entire universities that exists in India under the jurisdiction of UGC are working collaboratively and smoothly at their spheres independently. Considerable success is reported in achieving inter-university comparison of various management processes, 'although among the emerging issues are: the difficulties of achieving unanimity-from institutions about the scale of effort required; the sensitivities associated with scoring and assessing in a university context; .the problems of language; and the need for contextual indicators when using ,quantitative comparisons.

Indeed, the methodology of benchmark and with its conceptual emphasis on openness of analysis, organizational learning, and an examination of processes rather than a narrow focus on input or output data, has encouraged some commentators in the field of education and higher learning in particular to be optimistic about its application in universities, arguing that such a methodology fits a university culture more comfortably than other forms of change management

Introduction

The development of management education can be traced back to 18th century. From 18th century to 21st century, management education has seen lot of changes and development. Management education in India is predominately a derivative of western management thought and practice. Occasionally, management schools draw some inferences from Indian epics, shastras and practices. It may be worthwhile to notice that management itself as a discipline has evolved from fundamental disciplines of philosophy, psychology, economics, accounting, computer science, mathematics, statistics and industrial engineering. In India, management education is seen as elitist.

Often, young men and women are attracted to management education not because they need some education, exposure and experience to create something wonderful and hence useful to society but are usually motivated by the positive consequences associated with management education. 21st century India witnessed a sea change in its educational system. Process of liberalization privatization, globalization has not only replaced traditional approach with a more efficient professional approach; but also introduced new age courses in accordance with industry demand which have more economic value in today's time . Management education is one among those which got a new dimension with this changing time. Initially Marketing, Finance and Human Resource.

Management education has been considered as functional area of management, but now management education covers much more functional area like Operations, Information Technology, International Business, Supply Chain Management, retail and much more to add to the list. India has witnessed a continuing growth in this sphere of education because of the rising demand of trained management graduates. Management education has become one of the most sought after education today as a result of this; private sector has entered in Indian management scenario and invested an immense amount for this.

Management education in India is not very old, after the establishment of the IITs, there was dire need for similar establishments in the field of management education. Thus came into existence Indian Institute of Management Ahmedabad (IIMA), followed soon after by one in Kolkata (IIMC). Starting with the establishment of 4 Indian Institutes of Management Calcutta (1961), Ahmedabad (1962), Bangalore (1973), Lucknow (1984), now management education is being offered as full time/part time MBA programmes by some leading universities in the country. Recently and particularly during the last 4-5 years the country has witnessed a tremendous growth in the founding of management institutions most of them in private sector offering management programs in different functional areas of management. Concurrently, there is a mushrooming of B-schools in the country(over 2,500 institutes, of which about 1940 are certified by the All India Council for Technical Education (AICTE)), leading to issues of quality.

For most institutions of higher education the desire to learn from each other and to share aspects of good practice is almost as old as the university itself. With the emphasis on collegiality and the recognition of the international role of the university such desires have traditionally manifested themselves in numerous ways: professional associations, both academic and non-academic, meeting to share common interests; numerous visits by delegations from one higher education system to examine practice in another; professional bodies working collaboratively with institutions in supporting academic provision and mediating standards; and where formal quality assessment or accreditation systems exist, their ultimate dependence upon the maintenance of the goodwill of universities often by providing their own staff to take part as assessors of other institutions. Thus improving performance by collaboration or comparison with other universities is nothing new in higher education.

What is new, however, is the increasing interest in the formalization of such comparisons, and this short monograph reports on one recent innovation in this area: the development of benchmarking in higher education. Arising as it does from other initiatives concerning both the enhancement and assurance of quality and the drive to increase the Effectiveness of university management, benchmarking is directly relevant to current UNESCO concerns as described in its policy paper 'Change and Development in Higher Education' (1995).

In all hypes and buzz, the main reasons have included: greater international competitiveness; the development of an interest in enhancing quality and the consequent growth of the quality' movement'; and the rapid growth of information technology which has made data collection and management possible.

For the giant corporate companies concerned, corporate survival necessitated looking beyond statistical performance indicators to examine the processes by which such productivity was achieved, and how similar gains could be made in different cultural settings. Such work demonstrates several key features in the development of benchmarking: of the management education and the focus of attention is often on the processes used by comparator organizations, and the identification of output data is but one step in the analysis of the effectiveness of process; that the intention is not to merely copy best practice, but to adapt it to different organizational cultures and reapply some of the Operational principles that stem from it; and that some of the most interesting forms of benchmarking take place with either different kinds of organizations or across international boundaries.

At the same time other developments in the 'quality movement' bought such initiatives as business process re-engineering, international quality systems (IS0 9001 and so on), and total quality management (TQM) to the fore, with the latter being particularly influential with its emphasis on factors such as continuous improvement, a customer focus, strategic management, the need for explicit systems to assure quality, the requirement for accurate and immediate data through techniques such as 8  statistical process control, and - in order to implement the organizational changes required - a view of leadership and supervision that stresses employee empowerment and delegation.

Almost all such approaches to quality management emphasize evaluation, and broadly this can only-be undertaken in four main ways: against defined objectives or standards (whether set internally or by external funding bodies); against measures of customer satisfaction; against expert and professional judgment; and against comparator Organizations; with analysis in all four approaches being undertaken over a defined time scale. Thus benchmarking as it has come to be defined, was an inevitable outcome of the growth of the quality movement, and indeed a recent major review of benchmarking methodologies has identified a close conceptual and philosophical link between it and TQM.

The growth of sophistication in the data collection needed for benchmarking would not, of course, have been possible without recent development in information technology, and only relatively recently has it become possible to both collect and interpret the necessary performance data. Indeed, for many higher education systems such data collection remains problematic, and as the contributors in this monograph observe, much work still remains to be done within universities if adequate benchmarking data is to be made available. Such developments within the commercial sector have been quickly followed by similar initiatives within the public sector in India ,and a growing literature is now available on TQM and benchmarking within non-profit organizations. Inevitably higher education has also expressed interest, although currently more in the application of TQM than in benchmarking, as it provides interest in quality management that continues to grow, often fuelled by governmental-and public concerns about graduate standards and value for money; financial pressures constantly require institutions to seek new ways of utilizing valuable resources; and in many countries new private universities or distance learning providers may stimulate competition with state funded institutions. Further the methodology of benchmarking with its conceptual emphasis on openness of analysis, organizational learning, and an examination of processes rather than a narrow focus on input or output data, has encouraged some -commentators to be optimistic (or naive?) about its application in universities: arguing that such a methodology fits a university culture more comfortably than other forms of change management Indeed, benchmarking may be a more appropriate way of examining the performance of secondary education than the currently rigid assessment system used by established national agency AICTE.

The 21st century witnessed and witnessing sea changes in the sphere of higher education in general and management education in particular, likely to see a number of experiments and innovations in the application and use of benchmarking in higher education. And it is currently too early to predict whether they will be successful in its future course.

Benchmarking: The Problems of Nomenclature

We can preconceive the concept of 'benchmarking' that it varies considerably between both different approaches and different practitioners, thus causing problems to institutions investigating the subject for the first time. These difficulties of nomenclature go well beyond what may be ultimately sterile attempts to find acceptable definitions for their own sake, and instead reveal considerable cultural and methodological differences of approach which underpin how benchmarking is implemented.

But for discussion purpose if we examine minutely the concept of benchmarking identifies one aspect of the problem and that is "the term is used fairly loosely to cover qualitative comparisons, statistical comparisons with some qualitative assessment of what the statistics mean, and the simple generation of statistical data from a variety of sources which are then published as tables with no attempt at interpretation."

Part of the problem here is not only that different practitioners have their own definitions of benchmarking, but that within the quality assurance and enhancement literature the term has come to have a set of meanings somewhat removed from what is generally recognized as a 'benchmark', which is normally considered as a' standard by which an item can be measured or judged. It is clearly in this sense that the term was used and being used by those not versed in the special language of the quality 'industry'. notes that in higher education many people confuse benchmarking "with collecting statistics or performance indicators and complain about the poor cost-benefit of data collection exercises".

Such a problem is not, of course, unique, and there are numerous examples of incompatibility of terminology between the special usage by the quality movement and more general use within organizations. Indeed, it is arguable that the widespread, and sometimes ill-formed, application of approaches such 'as total quality management and

business process re-engineering has meant that they have largely lost any methodological clarity that might have been associated with their original meanings, and they have become instead almost a 'catch-all' phrase for a wide range of change management and reorganization strategies. Any conceptualization of benchmarking based upon a 'non-technical' definition would therefore need to include suitably developed statistical performance indicators and, associated statistics, providing they can be used for meaningful cross-institutional comparisons. In this context it is presumed the use of the term 'implicit benchmarking' by the Association of Indian Universities (AIU) has the attraction of bridging the gap between the reality of likely applications within higher education, and the strongly process oriented approaches favored by many of those in the quality movement.

Definitions of benchmarking vary widely, from the practical "a self-improvement tool for organizations which allows them to compare themselves with others, to identify their comparative strengths and weaknesses and learn how to improve. Benchmarking is a way of finding and adopting best practices to the participative the open and collaborative evaluation of services and processes with the aim of emulating best available practice,  through to the global and ambitious benchmarking is the process of continuously comparing and measuring an organization with business leaders anywhere in the world to gain information, which will help the organization take action to improve its performance.

Present Situation in India

Today managers are in great demand in every sector of economy. India needs a huge reservoir each year of people who are trained for business and for management and demands is to last for coming years. But it is matter of concern whether the demand is for what they have been taught. In management education, quality has become a necessity. To make India an intellectual capital of the world, we have to create a dynamic environment, which can encourage superior quality management education colleges and effort should be made to breathe life into management education.

Government has taken initiatives in this direction by giving node to 7 more IIMs taking the total number of the premier management school to 14. India already has 11 functional IIMs in Ahmedabad, Bangalore, Kolkata, Lucknow, Indore, Kozhikode, Shillong, Tiruchirappalli, Ranchi, Raipur and Rohtak remaining three are to setup in state of J&K, Uttarakhand and Rajasthan. Apart from IIMs management education is offered by university's own department in campus, affiliated colleges of universities in same place or the whole State, now technical universities have been given this role.

Moreover autonomous institutes approved by AICTE, universities running distance education program and open mode like IGNOU, Delhi University, Kurukshetra University, ICFAI and several others are also offering courses in management. Some recognized institutes and universities are also offering 3 years part time program in evening faculty for working executives. Foreign universities having collaborations in India and those having students exchange program with limited-time studies abroad are also imparting management education. New private universities like ICFAI (a national brand).

Amity and several others are now coming up According to annual report (2009-2010), published by Ministry of Human Resource Development, there were 20 Universities and 500 Colleges at the time of independence. At present there are 504 Universities and university-level institutions (as on 31.12.2009) 243 State Universities, 53 State Private Universities, 40 Central Universities, 130 Deemed Universities,33 institutions of national importance established under Acts of Parliament five Institutions established under various State legislations.

There are 25,951 colleges of which, 7,362 are recognized under 2(f) and 5,997 colleges recognized under section 2(f) and declared fit to receive grants under section 12(B) of the UGC Act, 1956).Table (1) shown below shows growth of AICTE approved technical institutes in last five Years. In 2008-2009 the number institutes increased at exceptional rate, thus can be called the golden year in respect to establishment of institutes. In last 5 years the number of aicte approved colleges has increased by almost 70% in total in various disciplines, whereas number of management institutes has seen growth of 90% in terms of number of institutes and growth of 123% in terms of intake.

Management Education
after
Financial Crisis and Satyam Fiasco

Western corporate world is infatuated with operational efficiency and not necessarily effectiveness. Today organizations center more on performance rather than organizational purpose which is perhaps root cause of the morality crisis, governance issues, and slipshod behavior of corporate citizens in the overall global context. Financial crisis in U.S and Satyam incident in India has raised issues against management education.

Western management education is based on the principle of 'individual excellence' and on the concept of the 'economic man' Financial crisis was the result of greed of economic man and opportunism which is directly result of way management education is being imparted, The modern management education in India stress on performance and very little on purpose. It equips the young men and women to generate wealth and does not provide them the capacity to enjoy and share this wealth. It motivates individuals to accomplish their objectives with or without regard to means.

The criticisms directed at management education generally revolve around two claims: first that the crisis was brought about by managers educated in business schools which do not pay enough attention to social responsibility, ethics and governance; and, second, that some theories or models are taught at management school could be held responsible for the crisis, such as the principal-agent model or the portfolio model in finance.

On other side episode like Satyam has given rise to new controversy and forced to make comparison like Satyam Vs. Enron, PWC Vs. A.C. Nielson and Ramalinga Raju Vs. Kenneth Lay and has questioned acumen and ethics of business mangers. The future will see changes in business schools curriculum and management research. Future research will include questions of diagnosis and prediction and this will help in explaining and preventing future © Research Journal of International Studies - Issue 18 (January, 2011) 20 global economic meltdowns.

Moreover the need to teach business within a global context will be more emphasized. Economic impacts are felt around the world whenever a major economy experiences challenges. It is also clear that developing economies like India need the attention and expertise from business school educators. Business education should fully encourage and stress the importance of socially responsible and honest conduct .Changes in curriculum, particularly in MBA programs, will cover ethics, governance, sustainability and corporate social responsibility to greater extent and will be imparted more rigorously. While more could certainly be done to further the integration of those issues with the functional areas of management.

There is certainly room to stress integrative thinking, the importance of a global outlook and the development of responsible leaders. Other more significant changes inspired by the crisis could affect executive education and the development of specialized masters programs. Undergraduate programs might be also impacted. Complication of financial markets, coupled with the dynamics of globalization and the demands for responsible behavior will, together, lead to a number of interesting new programs and specializations at both the undergraduate and post graduate levels.

To conclude, it can be expected that management education to be marginally impacted. And, finally, it may lead to real innovations that might result in development of specialized masters programs on one hand, and new multidisciplinary collaborations on the other. Further it brings a hidden opportunity for business schools to contribute to the development of better organizations and institutions, and thus to serve society for the greater good.

Trends in Management Education in India

The management education plays an essential role in today's dynamic business environment. The rapid trend of globalization and technological changes have made difficult for organizations to survive in the competitive world. As a result the importance of management education has been increased many folds. There are more than 2000 B-schools in India where students pay a massive sum hoping to find their dream career after completing their program. Unfortunately these business schools are not even able to place more than 50% of student except few top B schools. This is really an issue for concern and various reasons can be attached to it.

These reasons can be explained from institutes imparting education, from student seeking education, and affiliating authorities. Quality has deteriorated from both ends Institutes imparting education and student gaining education. There are fundamental issues of student input quality. In addition, there are fundamental issues of academic delivery quality as most run-of-the-mill colleges spend less than 10 per cent of their revenues on actual academic delivery. Most college owners complain of not being able to have enough admission in spite of investing on college infrastructure and startup costs. And those that are able to fill capacity they admit anyone who applies for admission thus resulting in poor input, leading to poor placements.

After the introduction of ranking system for business schools, business schools opted proactive approach in making changes, although they focused primarily on product tinkering, packaging and marketing. A study on management education has shown that there will be a fundamental shift in business school product offerings away from traditional MBA programmes and the trends of evolution of management education indicate that knowledge creation is becoming more student based (Friga, Bettis and Sullivan, 2003). This will result in various changes such as closer interaction among industry, students and faculty. It is clear that management education will emerge as one of the main distinct of higher learning, due to its growing demand. It has been stated that business schools, if they have to survive, have to focus on research to solve problems of enduring importance and to build such curricula that can actually prepare students to be effective in practicing the profession.

Emerging Issues of Management Education in India

This section discusses a number of issues that are relevant to management education in generally and management education in India in particular. Management education in India has not changed as per the requirement of the industry need and before this gaps widen enough; proper steps need to be taken.

In this section we aim to disuses various emerging issues of Management Education in India which can helps us getting rid of this gap and produce managers as per requirement of Industry and society, respond to challenges that comes with dynamics of internationalization There have been various Committees that suggested improvements in management education, their has been no noteworthy changes.

Dedicated Governmental Body for Management Education

In India governance of technical and management education is looker after by All India Council for Technical Education and its subsidiary the Board of Management Studies. Since both technical and management education have different requirement, so it definitely call for different body which could specifically look for issues related to improvement in management education which should be accountable for enabling independent institutional mechanism to specifically deal with management education that could lead to enhancement of standard of management education and give a new drive to management education.

Quality of Faculty

AICTE and University Grant Commission has given sanctioning and affiliation to large number of institute, but were unable to produce competent faculty to teach in management courses, which created a demand supply gap and resulted in low standard quality of faculty.

Curriculum Design and Developing Material Relevant to The Indian Context

Developing a curriculum is a challenging task and has to be continuously updated to keep pace with the advancements. Curriculum should be change driven and periodically reviewed to match the industry needs.

Emphasizing Research

The management institutions do not provide conducive environment that is supportive to research. Management institutes needs to work in this direction. Research not only leads to updation of knowledge in concerned subject, but also leads to knowledge creation.

Corporate Governance for B-Schools

Corporate Governance has been buzz words for last few months especially after financial turndown in U.S.A and Satyam case in India. Lack of corporate governance system in management institutes is one of the major reasons for fall of quality management education Corporate governance has to be made a part of accreditation.

Triad of Academic-Industry

Development of industry interaction is an evolutionary process. Industry interaction has to be emphasized to greater extent so that student can be exposed to real problems and exposure of industry. In present curriculum student are exposed to six to eight weeks training which is not adequate to understand dynamics of industry in this world of liberalization and globalization.

Customization of Specialisation

Customization is need of a day. Every industry has its on set of challenges & dynamics, and it requires specific skill set and expertise. This could be only done by bringing specialization in concerned field. Management Education today is not just confined to areas as Marketing, Finance and Human Resource © Research Journal of Internat¥onal Stud¥es - Issue 18 (January, 2011) 24 Management, its requirement is felt in growing areas of business such as hospital management, disaster management, infrastructure management, ITES which needs faculty specialization curricula customization, specific material development.

Multiple Perspectives

Management education is value laden field, but its value is deteriorating not just because way it is imparted, but also due to its nature. Management education need to inculcate multiple perspectives since technological, organization and personal perspectives could differ.

Exposing to Real Business Issues

As stated earlier there is need for enhancing industry exposure which will lead to enhancement of experiential learning. Exposing students to real life situations which are more complex, demanding, critical, messy, will bring them closer to reality.

Inculcating a Global Mindset

Learning is a relative concept. Today success depends how fast you are enhancing your knowledge, sharpening your skills and pace of your learning. In Globalization era where information is increasing at pace of Pico seconds mastering knowledge and skills have become essential.

Conclusion

In above sections we discuss present scenario prevailing in management education in India, trends and contemporary issues faced by management education in India. The outcome of all this is that management education appear to be more relevant than ever in the "global era". The ultimate challenge of management education approaches is to become more practical oriented and industry focus reason being theory-based developments and teachings are worthless, due to the fact that they will be of little use in concrete situations when a management issue arises.

Management education need to be holistic, targeted and customized with aim to remove the gap that exist between industry requirements and academic curriculum focusing on attitude, corporate awareness, grooming and developing managerial skills. Industry interaction has to be strengthened by inviting senior person from industry to deliver lecture and ensuring student get associated with live industry projects. Learning needs to student centric resulting in development in all areas such as analytical reasoning, lateral thinking, and solving case studies and as such. Mentoring and carrier counseling has to be introduced Most B-schools claim to have it but only as a lip service. If Management education in India has to really extend its image on international scenario beyond Aim's, institutes, industry and government has to work in alignment to improve quality of management education.

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   Published on IndianFaculty.com: 07/08/2012

 Source: E-mail 08/08/2012

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