MBA is one of the most sought after qualifications in India. After completing the graduation the students desire to go for this qualification because it offers wide prospects. Graduates from distinct disciplines are also picking on for this management qualification as it expands their intellectual ability as well as provides quicker career growth. As a result, we find rapidly increasing Business schools in India. But for quite some time they are experiencing a turning point.
MBA, and PGDM enrollments fluctuate or decline; The schools are, by and large, unaware of how widespread the problem is. Each thinks the problem of declining enrollments was unique to them. Against this backdrop of problems, MBA colleges are on the edge to take advantage of exciting opportunity to innovate. The world has changed; the business environment has changed and thus have changed the industry needs. With this the safety that used to come almost automatically with an MBA degree is no longer assured to graduates and the opportunity costs of two years of training.
To remain relevant, business schools will have to rethink many of their most cherished assumptions. Some B-schools like JIMS College, however, have already started on change programs that have incorporated flexible curriculums, courses in creative or integrative thinking, or experiential learning and project work. A few schools like JIMS College, PGDM College in Delhi are cutting-edge in one or more of these areas. So while there is a uniform degree of acceptance of opportunities and needs, the extent to which they were being met revealed disparity.
The answer to these problems is that B-schools need to think innovatively about how best to use the resources available. For example, there are many exciting opportunities to engage alumni in the learning process, where the faculty may include alumni such as local business leaders, who being by core faculty could help with team projects and practical learning. Training might come initially through the collective work of multiple business schools, with associates of alumni who receive a short dose of either functional knowledge or research skills or teaching training, or some combination of the three. Schools need to experiment to see what works best for them.
MBA graduates need to be more effective: they need to have a global frame of mind by developing leadership skills of self-consciousness and self- reflection; and develop an insight of the roles and responsibilities of business, and the limitations of models and markets.
Moreover, there is a need to develop their practical skills: how to conduct a meeting, make presentations, give performance feedback and to develop a better intellect of the reality of organizations within which leaders function. Leadership skills applicable in the old model are not likely to work today so MBAs need to understand how to work "through" people, how to motivate. That takes skill and practice. MBAs need to ask themselves, "How do I employ people to carry out a task while I remain in the backdrop?
MBAs need to understand the value of being a general manager in a global scenario and the differences in institutions, customs, cultures, and legal frameworks. It would be intriguing, to have student teams work on issues such as global branding in different countries; and share their learning with the class when they return.
To sum up, MBA and PGDM institutes can undoubtedly impart an exciting future and promising career to the students. By innovating the teaching pedagogy and imparting practical knowledge they can help students reinvent themselves as per changing state of affairs. For more about this topic you can visit at JIMS.
