MBA is not just meant for giving industry training to learners but it is also about equipping students with the knowledge that is necessary for taking the sector beyond, by presenting innovative solutions to the perennial problems, says Dr Ramakrishnan Raman
Ranking agencies rank B-schools based on several parameters, but students who aspire to pursue an MBA still look at placement opportunities provided by the B-school as one of the most important parameters while they decide to select a B-school — to pursue their Master of Business Administration (MBA). This being the case, should B-schools become placement hubs and focus and trumpet about placement statistics? Should B-School focus on churning out people who are ‘just coolies’ of the corporate world? Shouldn’t the B-School shape the mindset of students to become Atma Nirbhar or entrepreneurs? These are some questions that must be pondered.
Indian B-schools must think out of the box to be able to face the Industry 4.0 revolution. Being employable is an inherent requirement of an MBA graduate. The selection process, the pedagogy and syllabi must ensure students are industry-ready and also learn the way industry works. But in doing so, blindly joining the rat race model will be detrimental for B-schools. MBA is not just meant for giving industry training to learners but it is also about equipping students with the knowledge that is necessary for taking the industry beyond, by presenting innovative solutions to the perennial problems.
B-schools must ensure that the MBA programme helps students to continuously learn and apply the learning for bringing a change in the organisation, in society, and the nation at large. In order to achieve this, B-schools must focus on imparting knowledge related to innovation and skills that can help them take the entrepreneurial journey. Structured courses on design thinking and problem solving must become mandatory subjects in the MBA curriculum. In short, the MBA curriculum must not only focus on creating coolies for the corporate world but also give exposure to the emerging aspects of the management discipline and must kindle the fire in the graduates to be job creators and not job seekers.
B-schools have a humongous task in making the aspirants realise that the MBA programme is for making them hone their leadership abilities, learn team building skills, learn negotiation skills, learn the art and science of problem solving and critical thinking, and several other skills and knowledge needed to lead the industry. Hence, they must understand that B-schools must not be looked as a power house for placement. There is a need to change the mindset of students and make them understand this aspect and it’s a tall order claim.
They must ensure that the desire to become entrepreneurs is seeded into the minds of students. The opportunities that are available for an entrepreneur, the lucrative career along with the chance to create a bright financial stability, must be shared and showcased to them. B Schools must focus on launching programs which focus on Innovation & Entrepreneurship and must also make it clear that no placement is given to the students at the end of the programme.
Students who join such programmes must be encouraged to kick-start their start-up and must be given all the support needed to do so. The programme must have subjects like design thinking, problem solving, global mega trends, etc along with management disciplines like financial management, organisational behaviour, marketing management and others.
The writer is Director — Symbiosis Institute of Business Management — Pune & Dean —Faculty of Management — Symbiosis International ( Deemed University).