Management Education in India – which started some 50 years ago- has taken rapid leaps over the past decade. Today, an MBA or an equivalent degree is looked at by many as a Gateway to a rewarding career – a career which is highly challenging and extremely lucrative. Post liberalization the relevance of management education has become more vital, and this means a significant change in the way management education is looked at in India. So we must ask the important questions, which need to be discussed so that a better insight can be developed amid the changing global scenario. One thing is certain that the demand of the time is the necessity to realize the effectiveness of a strong paradigm shift in an ever-changing field like “Management”.
Management is an art. Thus efforts must be made to inculcate work related skills, not just the theoretical ones. Management education must be made ‘Mass Education’ rather than the ‘Class Education’ and that too, without compromising on quality. Henceforth, management institutes endeavour must be to develop global manger of proper knowledge, attitude, skill, insight and foresight to meet the challenges of 21st century.
Expansion of management education in the post-independence era is unprecedented in the educational history of the country. However in spite of this significant development, a lot more has to be accomplished in respect of increasing its coverage and enhancing its accessibility to various categories of people because there still exists a wide gap between the demand and supply of professionally competent people in the country and this gap is increasing year after year with increasing industrial and business activity. The solution to this problem lies in providing facilities for management education and training which alone can develop professionally competent generations suitable for business, industry and public administration. Hence, the question that needs to be worked out is that what is the overall objective of management education? Is it just be worked out is what is the overall objective of management education? Is it just to churn out technocrats and managers for the industry?
Implications for management education in India Manager educations have to focus on the topics to be taught (What has to be taught) and method of delivery (How it has to be taught). Management equation has to give emphasis on making management education relevant to the Indian context, the themes to be covered, and the way the topics have to be dealt with. Detailed coverage has to be developed for each subject. Since management is a practice oriented domain, management education has to incorporate an element of on-the job training. This will need a mix of concepts, cases, exercises as well as simulations for themes such as business strategy, market planning, business negotiations, leadership, business ethics and team work. There has to be a massive effort to prepare context specific materials. This will need willingness on the part of Indian business groups to share materials for case preparation.
Management education at all levels was monitored both in US and UK, with special reference to Bachelor of Accountancy and Bachelor of Business Administration. In India, however, the focus on content at the B.Com and BBA has been missing. Both the contents and delivery need to be given Emphases at that level as well. We have to examine whether we need a degree like BBA for the Indian context, as management education without any practice is of no value. The action imperatives are considered in detail in the fourth part of the series on Management education. Though there were many committees on management education in India, most of them did not delve into content and delivery, and these continue to be neglected action initiatives in Indian business education.
Last but not the least, prospects of Management Education also need to introspect themselves, their skills, Aptitude and orientation before opting for Management Education as their career choice. They need to search for best Institute suitable for them while searching for Top MBA College in Greater Noida, Best Management College in NOIDA and Delhi-NCR etc.