VI.CHALLENGES AND DRAWBACKS IN MANAGEMENT EDUCATION 1.Challenges 1.
The current
curriculum in management education does not teach students in facing the challenges in business
environment. 2. How to manage uncertainty and complexity are not taught in business schools. 3. It
merely teaches the concepts with case studies. 4. It does not focus on the challenges arising out of rapid
growing technology and the challenges involved in running an enterprise. 5. Unfortunately, the best
talent is going to industry where salaries are lucrative. 6. Those who come to academic area are the
ones who could not be absorbed in the industry or those who come to this profession by chance or
those who chose this career out of passion. 2.Drawbacks 1. Insufficient availability of specialized experts
and qualified faculty. 2. Lack of Industry based specializations. 3. Lower infrastructure. 4. Burden with
heavy subjects. 5. Lack of necessary guidance to the students. 6. Lack of updated and industry based
syllabus. 7. Lack of admissions in Management Research. 8. Lack of Inter-disciplinary approach. 9. Lack
of sOvercoming Challenges: Re-engineering of management education must be done. Provide decent
salaries and professional ambience to faculties. Send the faculties regularly for training programs to
update their skills and abilities. Develop right mindset and attitude. Focus on quality of education not
quantity. There has to be interactive sessions for the students rather than mere preaching what is
mentioned in the books You cannot become a crack shot unless you lose some ammunition. The
students have to be exposed to the industry through interface so that they understand the practical
problems in corporate world. This boosts more confidence among the students. The project work
should be contextual, relevant and should focus on the current scenarios. MBA is a professional degree
and it should train and groom the students to be true professionals to take on the challenges being
faced in the business environment. Make accreditation mandatory to ensure quality of education.
Take stringent action against the illegal and unauthorized MBA colleges. Use online courses and other
e-learning methods to increase training opportunities for field and local staff Provide training in
languages besides English Ensure that training is provided even in emergency situations.pecified
authorities for quality research in management studies. 10. Insufficient Grants for research.
Importance of Management Education: Management education adds value to the existing qualifications.
It helps students irrespective of their domains in graduation as it widens their knowledge base and
encourages them to think differently. Management education enhances managerial and leadership skills
by sharing of ideas, insights through healthy, meaningful and case study discussions. Having students
with cross cultural backgrounds adds value to management education as there is probability of
generating multiples ideas. Apart from providing requisite skills and abilities to get going smoothly at the
corporate world, it provides an opportunity to network with others and promotes cross-cultural
diversities. It helps in equipping the executives with competencies and capabilities to take on the
corporate challenges with confidence. Now a days, we find there is growing demand for the programs in
the domain of strategy and leadership development in MBA education.
Management Education in India: An Overview
Management education in India formally began in 1953 at the Indian Institute of Social
Welfare and Business Management (IISWBM) the first B-School established by Government
of West Bengal and Kolkata University. However, a few institutions like Tata Institute of
Social Sciences (1936) and Xavier Labour Research Institute (1949) had already started
training programmes for managers in personnel function well before the formal launch of
first MBA programme at IISWBM. IISWBM experiment of offering two-year, full-time MBA
programme was followed by Delhi University (1955), Madras University (1955), Bombay
University (1955) and Andhra University (1957). A few other institutions like Administrative
Staff College of India Hyderabad (1956), All India Management Association (1957), and National
Productivity Council (1958) were established to promote excellence inmanagement practices,
research and education.The Government of India launched Indian Institutes of Management
(IIMs) as centres of
excellence in Management education in early 1960s. The first Indian Institute of
Management was set up in Kolkata in 1961 and second in Ahmedabad in 1962. Elite club of
IIMs added new members in 1973 (Bangalore), 1984 (Lucknow) and 1997-98 (Khozhikode
and Indore). Currently there are 12 IIMs in the country. Over the years, IIMs have evolved
as great brand in Management education across the globe and an enviable benchmark for
other institutions in terms of quality of faculty, students, curriculum and placement.
Responding to huge demand for managers, many universities started MBA programmes in
1960s and 1970s. Notable entrants in the Management education were Cochin University of
Science and Technology (1964), Osmania University (1964), Allahabad University (1965),
Punjab University (1968), Banaras Hindu University (1968), University of Pune (1971),
Kurukshetra University (1976) etc. By 1980, several state universities across the country
started offering MBA programmes. Initially, MBA programmes were part of the Commerce
Departments. However, most of the universities have now created Faculty of Management
Studies, thus giving due credence to Management education
Scope
Management education includes undergraduate, post graduate and PhD courses in
management.
The courses may be full-time, part time, executive, distance learning or specialized. The subject
of focus of this study is post graduate courses in management.These courses come with a
variety
of names -Master of Business Administration (MBA), Master of Management Studies (MMS),
Master in Finance Control (MFC), Master of Public Administration (MPA), PG Diploma in
Management (PGDIM), PG Diploma in Human Resource Management (PGDHRM), PG
Diploma
in Financial Management (PGDFM), PG Diploma in Operations Management (PGDOM), PG.
Diploma in Marketing Management (PGDMM) etc.
