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MBAUniverse.com Director's Conclave 2012
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" We are in the midst of a shakeout. But I am bullish on Indian MBA education. Total size of the global MBA education market is USD 35 Billion. But India's share is just USD 1 billion. So there is a lot of room to grow ": Dr. Madhukar Angur
Addressing MBAUniverse.com ‘Directors’ Round-table’, Dr. Madhukar Angur, Chancellor, Alliance University said that though management education in India is in a ‘state of flux’, the sector is witnessing a heightened awareness which will lead to a bullish growth of quality B-schools in the country.
“Yes, we are in the midst of a shakeout. But I am bullish on Indian MBA education. Total size of the global MBA education market is USD 35 Billion. But India’s share is just USD 1 billion. So there is a lot of room to grow,” Dr. Angur said while addressing ‘Directors’ Round-table’ in Bengaluru, hosted by MBAUniverse.com, India’s No 1 MBA Portal, on April 25.
More than twenty big-wigs of Indian Management Education & CEOs from Corporate India descended in the city’s prestigious Century Club for the ‘Directors’ Round-table’. In audience were more than 150 Vice Chancellors, Directors and Deans from Top 75 B-schools & leading Universities from Karnataka, Tamil Nadu, Andhra Pradesh and Kerala.
Dr. Angur said that the heightened awareness will lead to a better quality of Management education in the country as well.
“Currently MBA education in India is in a state of flux, but is experiencing a stage of heightened awareness. Increasing economic integration, global competition, advances in technology, and growth in various sectors across the world have influenced management education and its role for individuals, businesses and corporations,” he said.
Expressing concern over quality of MBA programmes offered by B-schools in India, he said there is a huge demand-supply mismatch in the market. ”Barring another 20-25 top institutions beside the IIMs, most of the business schools in India have been unable to effectively educate and train graduating management students to meet industry expectations. It has in a way presented a huge demand-supply mismatch for quality management education in this country,” he said.
But he added that the current crisis present immense opportunities for players who want to excel on quality. “Undoubtedly, today one of the major areas of concern for MBA education is the quality of MBA graduates and their meager repertoire of skill sets. However, this vacuum for quality managers in business can also be looked at as an immense opportunity in MBA education,” he said.
Dr. Angur said that MBA Educators must understand the changing industry needs and their expectations on value addition of an MBA degree. “Instead of focusing on only analytical methods and models, industry is increasing looking for MBAs with greater self-awareness and self-reflection in their workplace, that is, MBAs who seem to understand their impact on others and vice-versa,” he said.
He said that the country’s greatest constraint on economic growth is not just on infrastructure, or technology and financial outlay, but mainly of managerial talent. “There is a tremendous need for management professionals, who with the right education and training can become better leaders,” he said.
On the way ahead for B-schools in India, Dr. Angur said that B-school administrators need to seriously assess themselves on quality faculty; developing material relevant to the Indian context; promoting a research culture; developing meaningful interaction with the industry; ensuring a contemporary curriculum that is both rigorous and relevant; and, creating a global mind set for students and faculty, among others.
Considering the large pool of potential students, he also suggested Indian B-schools to reorient themselves to focus more on undergraduate programs. “The undergraduate focus could capture a larger pool of potential business students and the longer duration of the undergraduate management program would provide an opportunity for better quality education to students,” he said, adding, “Careful teaching and mentorship goes a long way towards building strong bonding with the institution.”
Expressing concern over the lack of long term vision in Management education, he advised promoters and directors to concentrate on developing mission statements for their institutions. “Although this suggestion appears to be pretty obvious and simplistic, it’s interesting to note that a review of the vision and mission statements of the top 50 business schools in India indicates that nearly 40 per cent of them (about 20) do not either have a clearly defined vision/mission statement or not have it at all,” he said.
He also asked promoters to provide genuine autonomy to their administrators and empower them to make decisions and ensure that a myopic perspective of generating short-term revenue and “profit” is alleviated.
Dr. Angur suggested Tier 2/3 B-schools, which are facing a crunch situation due to slowdown in admissions & placements, to create a “regional niche brand” for their schools instead of overly focusing on the national market. “They may want to consider the community-college model successfully developed in the US. The primary objective there is to provide good quality education at an affordable price for the regional market,” he said.
“It’s important for them to conscientiously provide several value-added courses which are more industry oriented. These B-schools will also have to effectively utilize faculty deployment that provides for a good blend of both professionally qualified and academically qualified faculties which provide for a stronger industry linkage leading to appreciable placement record,” he said.
Corporate panel speakers at the Forum included GMR Varalakshmi Foundation CEO Dr. V Raghunathan; Mr. Pallab Talukdar, CEO, Fujitsu India; V. Ravichandar, Chairman & Managing Director, Feedback Business Consulting; and Mr Kunal Dureja, Country Manager - Career Education, IBM Software Group.
The eminent panel of Top MBA Educators included Noted Management Thinker Dr Jagdish Sheth; Prof. S Sriram, Executive Director, Great Lakes Institute of Management; Dr. R C Natarajan, Director, TAPMI; Dr. H Chaturvedi, Director, BIMTECH & Alternate President, Education Promotion Society of India (EPSI), Mr. Sanjay Padode, Secretary, IFIM Business School, Bangalore; Dr. N R Parasuraman, Director, SDM Institute for Management Development, Mysore; Dr. Hari Krishna Maram, Chairperson, Bangalore AIMS Chapter.
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