According to the newest India Skill Report, having an MBA diploma isn’t any extra the important thing to land jobs in India. Despite being ranked because the second most employable course, solely lower than half of scholars (46.59 per cent) with an MBA diploma have sufficient expertise to be employed. Several consultants blame the mushrooming of MBA programs and faculties for a drop in high quality and thereby, employability. Most of them suggest an general overhaul of the curriculum as an answer.
Varun Mayya, founder, CEP, Avalon Meta, a digital college, claims that the MBA diploma in its conventional kind is not related. “The MBAs were once useful for the network they provided to a student, but that is now available on the internet. However, the IIMs are still high quality in the sense that you can still find a great network there. Other MBAs are fizzling out because alumni networks are predicated on the brand of the institution. If there isn’t a great brand, the college would not attract great students. If there are not great students in your university, then you have lost the most critical part of the MBA experience,” he stated.
Dr Girdhari Lal Tayal, dean, lecturers, Indian School of Business and Finance (ISBF) believes that for MBA, it’s all about timing. “Timing an MBA is highly essential, with or without pandemic or economic slump. One should do it once one has developed the business and emotional maturity needed to lead teams,” he stated.
Issues with the present MBA levels
SBF — which is affiliated with the London School of Economics and Political Science (LSE), University of London — highlighted that India additionally offers with deeper points, together with “outdated curricula which are not revised often enough, teaching methods are outmoded and there is little to no emphasis on pedagogical training and development at Indian institutions — both completely out of line with what the world’s best or highest-ranked institutions do”.
While the premium B-schools together with older IIMs and ISBs are sometimes ranked amongst prime international colleges, the problem is past the handful and is concentrated amongst tier-II and tier-III B-schools in India.
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One of the important thing causes behind this could possibly be that when one thinks of reskilling, it’s extra typically than not linked with STEM-based programs however administration expertise and programs too have an ever-shrinking shelf life, explains Dr Jagdish Seth, Padma Bhushan awardee. Seth can also be ‘Charles H. Kellstadt Professor’ of promoting on the Goizueta Business School of Emory University and chairperson of Jagdish Seth School of Management.
“We need to create specialised MBA programmes which teach not just general management but also specialised skills right from the starting of the course,” he stated. He added that that know-how and humanity each have to be a part of MBA programs and undergraduate administration programs (similar to engineering) ought to be expanded to a four-year period with dual-degree choices of learning one other additional yr to achieve postgraduation as an possibility. “The next generation MBAs do not need to have knowledge of economics but of coding, and data mining,” he stated.
Aim for the longer term MBAs
As a results of the recognition of STEM-related expertise in enterprise equivalent to information analytics and many others, a number of engineering faculties have additionally began to supply administration levels. BITS has not too long ago opened a complete School of Management referred to as BITS School of Management.
A spokesperson from the newly set-up institute stated, “Business education needs to bring in technology as a key component of the curriculum. B-schools will play an important role in making non-engineering graduates comfortable with technology, and to be able to go on and leverage important trends in technology. Along with these hard skills, ‘softer’ aspects including social skills, emotional intelligence, and the ability to think critically will play an important role.”
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Beyond-boardroom-skills have been endorsed extra due to the pandemic and its impact on the enterprise panorama globally. Skills that shall be wanted for B-School graduates to reach this new regular are being adept with digital, cognitive expertise, glorious social and communication expertise, and resilience, he stated.
Tayal too stated that “incorporation of elements of programming, business analytics, machine learning, digital innovation and such topics into the standard MBA is absolutely necessary.”
Sanjay Tiwari, co-founder, 21CC Education – coaching and e-learning supplier in logistics stated, “Recruiters commonly look for communication skills, leadership skills, problem-solving ability, analytical thinking and strategic thinking in a B-School graduate. These institutes must re-work the current curriculums to include courses on digital transformation, remote team management, business continuity, and building resilience. A more immediate solution towards remedial education would be to introduce skill-building in curriculums.”
Shortage of academics
With the change in ability requirement, there shall be a must improve the instructing workers too. Dr R L Raina, Vice-Chancellor, JK Lakshmipat University, Jaipur stated, “These MBA programmes need to upgrade with more hands-on experience and equally focus on skill sets. These skills are not just business skills. Liberal arts and communication are also important disciplines that need to be merged with an MBA. This calls for more diverse faculty.”
Tayal from ISBF stated, “It is a vicious/virtuous cycle – without students who have undergone cutting-edge curricula, we won’t have researchers who can write and teachers who can teach such curricula, and without that the students will remain unemployable at large. It is an orbital shift that we need in this regard and the NEP seems to be taking us there, especially in terms of initiatives towards greater internationalisation.”
Dr Jagdish Seth stated the problem of school scarcity may be stuffed with on-line lessons being taken by grasp academics for college students past their very own universities. “We need to go beyond the boundaries of campuses, and nations. The next biggest thing is going to the digital nation or digital communities. We need to serve the courses on these platforms. Online degrees, accreditation systems, and collaborations between universities across the world can solve the problem of teacher shortage. It will also give more reputation to online courses,” he advised.