Indian students are mindlessly running to get an MBA degree, but not many end up getting jobs. What are the possible reasons?
There are several reasons associated with it. Firstly, the curriculum is not connected with the industry needs. Certificate alone will not fetch a job – there is a need to hone the skills necessary to succeed in the corporate world. Lack of ability to apply the concept learned in the real world. Several students are too focussed academically, but do not give much emphasis to all round formation.
What should the B-Schools do to make the curriculum relevant to the industry requirements?
The curriculum needs to be constantly updated to the changing needs of the industry. Only those B-Schools which focus on quality education, constantly transforming itself to meet the current needs of the industry and the society will survive and succeed. Constantly upgrading and updating the curriculum to make it relevant and contextual is essential.
A paradigm shift needs to take place in the business education from teaching to learning and doing.
Most engineering graduates end up joining the B-schools. Does this limit the employment opportunity for students from other streams?
Engineers generally seem to crack the competitive exams (such as CAT, XAT) better than the students from other streams and so they get a better chance of being selected. We cannot say that others do not have employment opportunity (they may get in other fields) – all we can say that they do not have an equal opportunity as engineers in the selection process.
Indian students lack soft skills and leadership skills. Do you agree with this?
We cannot generalise it. We do not give adequate importance to these skills in our education system (both in the school as well in the universities). They are latent/dormant, and students are not provided the need opportunities to use them. During their MBA studies, we give importance to this area – to bring out the dormant skills.
How do you compare the MBA degrees offered by Indian institutes as compared to those offered by the colleges abroad say in America, UK or Europe?
MBA degrees offered in America are very different from the degrees offered in Europe. We cannot put all of them in one basket. Even among the universities within these countries, there are vast differences in the way it is delivered. It is very difficult to compare. The institutes in India are different from each other. For instance, IIMs are significantly different; PGDM programmes which have certain freedom and flexibility to change the curriculum are different from MBA programs in the university. In general, the pedagogy in the US is different not only in the business school, but also in the schools and colleges/universities – more focused on applications and industry needs. In the Indian school system, memory is awarded, and skill sets are not given sufficient importance. The Indian students initially find it difficult to adapt to the new system and pedagogy in the business schools, focusing on applications.
India is a growing economy- does this mean that there are many opportunities for the youth?
Certainly, we need people with talents and required competencies. India is one of the fast growing economies in the world and there are ample opportunities. If you possess the right skill set, opportunities are galore.
How do you look at the emerging trend of entrepreneurship. How can B-schools contribute in boosting this and involve more students to become job creators?
Schools need to bring out more ‘job creators’ than ‘job seekers’ and it can play a vital role in instilling an entrepreneurial spirit among the students. Higher education institutes need to set up more incubation centres to help the students.
What are the plans of LIBA?
To begin with we will start a centre for Analytics and Insights in collaboration with TCS. International accreditations – We just got the South Asian Accreditation (SAQS) and we plan to go for Association to Advance Collegiate Schools of Business (AACSB). We have also started construction of a new state of the art building, which will have a large library and an auditorium besides classrooms and office space.