Management Education in India in the 21st Century: The Issues & Challenges
The article tries to study the issues related to quality management education in India, and also finds implementation of possible policies and methodologies to improve the level of management education across cities. Read on to explore more about the challenges faced by the management education industry in India.
Every sector of the job industry demands efficient managers who can aid in the smooth working of the organization. Our country requires a pool of professionals who are trained in the specific skill set of the business management. Such a demand is expected to continue in the upcoming years as well. However, the matter of concern is that is the number of management graduates is enough to meet the industry’s demands. It is important to maintain quality in management education, and to create a situation ideal for the management education, there is need to create a dynamic environment that can encourage introduction of superior management education colleges.
The “Financial Times” reports that India is in dire need of more and more renowned management institutes. Earlier in the year 1961, the Indian Institutes of Management (IIMs) were established to improve the level of management education. However, with the annual growth of country’s economy by 8%, the businesses are desperate to hire business graduates from the reputed MBA colleges India. However, the state schools are unable to keep up with such an increased demand, particularly for the quality management professionals
Issues and Challenges in Management Education
According to some surveys, more than 100,000 students graduate from such private institutions, but the businesses tend to sort out the crème-de-la-crème of the professional population, which account for just 5-10% of total management professionals. It happens that students do not even realize the poor quality of their chosen program at the early stage of their education, and there is such a high demand for management degrees that most of these B-schools are full despite of poor quality education. The market analysts suggest that the professionals graduating from such B-schools end up accepting jobs which are low paying and do not ensure great future. Sometimes, such professionals land into those jobs, which do not even require a management graduate.
In past few years, the increasing number of new management institutions all over the country to meet the increased demand from the management aspirants has led the financially motivated entrepreneurs to enter the field of education and open up new B-schools. In addition, such colleges have been successful in receiving random approvals from the accreditation bodies and have resulted in a situation, which points towards the absence of a consistent methodology to ensure institutional accountability. Such a situation has resulted in suboptimal quality of management education offered by these colleges. Besides, little importance to faculty quality and placements is another factor that has led to lowered educational quality. Such colleges need to develop a regulatory environment to maintain the balance of autonomy and accountability.
Implementation of strategies
The institutes offering management education requires experimentation when it comes to extended summer internship or project work for 4-6 months, which involves various live projects of shorter duration.
The students need to develop soft skills from within as it one of the most requisites for the successful managers. The quality of faculty members is simply very important. To catch up the global standards of quality management education in India, the business schools need to work hard. Some of the steps, which can certainly be helpful in improving the level of education in our country, are:
- Find out the measures to assess the globalization on business education and the ways to tackle the related problems
- Introducing the concepts of information and communication technologies in teaching and learning methodologies
- Adopt appropriate strategic options, which will help the institutes to cope up with the competitive pressures
- Strengthening the reputation of the institution and building up the brand to secure its long-term competitive position in the industry
The management institutions also face the problem of shortage of faculty members who can impart quality education. The members with a doctoral degree or considerable industry experience can offer enormous value to both institutions and students, and institutes to expand their area of focus to other sectors as well. Areas like sustainable development, agricultural management, environmental management, functionalities of municipal corporations and public sector management should be given more importance.
If all these above-mentioned challenges are met successfully, the business schools can have the opportunities to differentiate themselves from the ever-growing numbers of business schools. For example, such institutes can offer innovative programs, which will help to strengthen their competitive position.
Undoubtedly, India has produced a large number of management graduates, but there is an urgent need to welcome the global changes and establish the management schools, which define excellence, and can come up as a role model for other management schools. The market demands dynamic and competent managers and thus provides great opportunities to rethink the options, which can help these institutes in producing the skilled and qualified managers.
Author Bio: Rashmi Karan writes for Shiksha.com, India’s most popular online education portal for the higher education aspirants. She offers suggestions related to all education related queries and dilemmas. Explore to learn about professional courses across top MBA colleges in Hyderabad, Delhi, Bangalore and other Tier-I cities.