A Report On Management Education and Inclusive Growth in India Perspectives and Challenge

A REPORT ON MANAGEMENT EDUCATION AND INCLUSIVE
GROWTH IN INDIA
PERSPECTIVES AND CHALLENGE
OPPORTUNITIES AND CHALLENGE INMANAGEMENT
EDUCATION
SUB THEME- INCLUSIVE GROWTH
Management Education in India is at the cross road, On the one hand is

the Govt of India, the statutory body while on the other is the All India Council
for technical Education. The Govt has permitted the AICTE for the
establishment of several business schools which have to be monitored and
ranked as per their standards by the AICTE. Management education in India is a
new concept as because the preferred careers in the 1940s and the 50s were
medicine and engineering and in the 1960s and 70s the IAS and the Central
services, the craze since the 1980s has been for management and IT jobs. As a
result, there has been an explosion in the number of business schools in India.
Management study is very popular for imbibing versatility and multi-tasking
abilities
As the demand for management education grows so do the challenge and

opportunities too. Today business schools in India face the challenge of
creating an indigenous model of management curriculum. Although the area of
action to implement management education is a global one but it is also
necessary for the curriculum to reflect local aspirations. For eg: curriculum
should focus on local case studies where the management principles are broadly
examined, questioned and streamlined to meet the challenges of the
local/national business environment optimistically. Unfortunately, Indian
Business schools vary widely in terms of the caliber of the faculty, quality of
curriculum, infrastructure, and placement record. Apart from the premier list of
B Schools in India the academic standards of most of the B Schools are not upto
the mark. In fact at the low end of the spectrum we find institutes charge
exorbitant fee from gullible students but provide negligible academic value
addition.
The other challenges facing management education in India is to
promote research and establish a global quality assurance and accreditation
system and above all to continue working upon to improve against the
competitors to enhance its ranking is a challenging task for every institute.
OPPORTUNITY TO GROW
In the last decade Management program has registered 800% growth

compared to the traditional Phd programs which had registered a mere of 4%
growth only. From this we can analyze the craze of young India towards the
program. The below data depicts the said growth review. With the globalization
coming into force and the shrinking international barriers, it is the high time for
the business schools to meet the global standards. It is still believed that
acquiring an MBA is a valuable proposition that ensures quick return on
investment..
DIFFERENCE BETWEEN THE GROWTH OF Phd AND MANAGEMENT
EDUCATION OVER THE YEARS
Growth of
1400
No. of Institutions
Growth of Phd program Since 1995
80
70 1200 60
68
60 49 49
50 36 38 40
. of Progrmmes
40 28
30
20
7 12 1000
22
10
0
Moreover
1995 1997there
1998has been
1999a proposal
2000 2001
800
for the foreign
2002 university
2003 to come2006
2004 2005
over India and to start its operations. This has both the boon as well as the bane.
If we talk about the positives then it willYears
generate revenue as there will be
ample number of foreign students getting admitted and also it will retain our
Indian students who wish to fly abroad for a good brand university program.
600
This will enhance competition in the domestic market which will boost up the
standards and overall quality of our education system.
In the U.S. each year of education costs approximately, $50,000 or Rs. 25
lakhs. If India builds good universities with high quality residences for students
and advertise globally, India can give this market tough competition. If India
charges tuition fees of Rs. 5 lakhs per annum from foreign students, then with
all other overheads a student can get quality education for Rs. 8 lakhs per
annum, which is one third the cost in the U.S. There is clearly a huge
comparative advantage in this and the scheme can attract lots of students to
India. This can bring in a large infusion of money, which can make it possible
for the Indian government to subsidize the higher education of Indian students
and vastly expand the number of Indian students.
On the other side there are some problems which may arise would be it
may increase the present demand of quality faculties which are already short in
number. The foreign players may fix a high remuneration to attract the Brand B
school faculties which may liquidate the quality of the faculties in the premier B
Schools of India.
So the factors which need to be addressed for the inclusive growth in

management education are discussed below:-
INNOVATIONS IN THE PEDAGOGY
Apart from the traditional method of theoretical classroom teaching

followed across most institutions. Some have innovated with Guest faculty who
give a firsthand experience of the happenings in the corporate world, so that the
students can remain updated of the recent developments. Thanks to rapid
progress of technology that classrooms are getting equipped with
videoconferencing, video data LCD projectors, audio playback facilities with
high speed internet connectivity; Centre for Global Networking; E-centre and
Entrepreneurship Guidance Cell; Hi-tech Management development centre;
Case Study discussion hall, State-of-the-art CD ROM based digital library, and
the likes. Many business schools have strong relationships with practicing
managers and leading businesses and are constantly monitoring the business
environment and making projections to refine and revise curricula
SOME AMENDMENT OF THE LAWS NEEDED

Indian universities need to prepare themselves for this global system of
the education. Our universities need complete autonomy in terms of what to
teach and whom to teach. Currently laws in India say a central university cannot
appoint a foreign lecturer. If a professor from Bangladesh is an expert in a
particular paper and is willing to come to an Indian university, why can’t we
appoint him? Why should knowledge be restricted? Education should be free
from all constraints.
UPGRADATION OF THE SYSTEM
There is a immediate challenge for management education is to enhance

the academic standards across the board to create a reasonably large pool of
good quality institutions. For upgrading the quality of education, scarcity of
good faculty is a major bottleneck.
This problem can be addressed by having strong doctoral programmes in the top
20 B Schools. In offering doctoral programs top Indian schools should
collaborate with each other and schools abroad making use of new technologies.
RATING AND ACCREDITATION
Rating and accrediting agencies have to focus on the lower end of the
spectrum of Business schools, so that there is stringent enforcement of quality
standards, leading hopefully to closure of substandard teaching shops.
MANAGEMENT EDUCATION AND INCLUSIVE GROWTH IN INDIA
Inclusive growth by its very definition implies an equitable allocation of

resources with benefits accruing to every section of society. Now for the
Inclusive growth in the Management education there has to be collaborative
efforts in growing the importance across the globe, with an increased focus on
innovation through R&D in order to advance towards a more ‘knowledge
based’ economy. Also, today interdisciplinary is being recognized to be
essential for innovation and universities are unique environments where high
academic standards and a vast range of disciplines meet and flourish.
Management education creates leaders, revolutionary thinkers in the business
world but have not been thinking or taking any innovative steps.
On lateral discussions I have found that the institutes charging exorbitant
fees for the management program should not indulge in any anomalies in the
service. In short the students should not feel themselves cheated. If they feel
cheated and they lack the power of revolt against it because of the absence of
any union body in the private institutions, they may hence forth create
anomalies in their duties later. Management education is a very sensitive arena
in today’s economic scenario because the MBA’s are first blamed for the
economic crisis of any nation and moreover there is no centralized agency to
direct the behavior of the management graduates as where we have such
agencies for the engineers (institute of Engineers association) and the medicos
(Medical Council of India). MBA’s play a vital role in the economic structure of
any nation. The past has seen the blames on the MBA’s after the sub prime
crisis in the USA.
OPPORTUNITIES FOR INDIAN YOUTHS
This is for the Indian talent who are recruited for overseas jobs. Data says
that African and Central Asian countries recruit people from India for banking,
insurance and general management jobs. With foreign companies making a
beeline to India in search of markets, the opportunities in the management
sector are increasing. Many companies increasingly desire leaders who have the
ability to live successfully in a variety of countries and work with the co-
workers of varying cultural backgrounds, especially Asia.
These can be possible by the following initiatives
 Exchange program (students and faculty)
 Research collaboration
 Possible new initiatives
 Joint executive education programs
For these process to be successful, a strong Public Private Partnership
programme is needed to accelerate the capacity building and quality improving
initiatives for education in India. Govt should come out with inviting proposals
for the private (both local as well as foreign) investment in the education sector.

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A REPORT ON MANAGEMENT EDUCATION AND INCLUSIVE

SUB THEME- INCLUSIVE GROWTH

Management Education in India is at the cross road, On the one hand is

As the demand for management education grows so do the challenge and

In the last decade Management program has registered 800% growth

Growth of Phd program Since 1995

So the factors which need to be addressed for the inclusive growth in

INNOVATIONS IN THE PEDAGOGY

Apart from the traditional method of theoretical classroom teaching

SOME AMENDMENT OF THE LAWS NEEDED

UPGRADATION OF THE SYSTEM

There is a immediate challenge for management education is to enhance

RATING AND ACCREDITATION

MANAGEMENT EDUCATION AND INCLUSIVE GROWTH IN INDIA

Inclusive growth by its very definition implies an equitable allocation of

OPPORTUNITIES FOR INDIAN YOUTHS

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