Business Education for the Next Generation

Business Education for the Next Generation

30, July 2021

Management education in India has matured greatly over the past 20 years now. The liberalization era, economic development, economic slowdown during different time periods and recently due to the pandemic called for revamped management education. Over the past decade, management education has emerged as the preferred programs be it at graduation or post-graduation level. Be it BBA or MBA, it has been widely perceived as the elixir to address business challenges across all levels. Consequently, institutes offering management education have skyrocketed despite skeletal lapses and resulting in a surfeit of challenges. The last 2 years of pandemic have affected the education sector at all levels. The gaps in technology disruption have uncovered the shortcomings in our management education system and this calls for a quick action and filling the gaps.

Challenges ahead:-

There are a number of challenges, some confined while most others are interconnected. These can be majorly divided as skills, proficiency and knowledge related with an underlying effect of behavioural attitude. This needs to be dealt with some elemental amendments. Another very precarious concern is the academia-industry disconnect. Program and curriculum are usually not revised and aligned with swiftly growing industry needs and requirements. As a result, business graduates from a large number of institutions are not ‘industry-ready’ when they take up their jobs!

Consequently, we are facing a challenge of the ‘quantity versus quality’ dilemma. The quality of management programs varies greatly across institutions. Lack of well trained faculty and state-of-the-art infrastructure is another challenge among a number of other challenges. Recruiters are primarily interested in hiring the best talent pool for which they prefer top-tier institutions.

Of all the challenges, the challenge of maintaining the quality of program delivery is of utmost importance. Feeble rate of technological improvisations, old school tools in practice by management institutions combined with regulatory checks are some other obstacles that govern the development and growth.

Expected Shift and the way forward

The highly uncertain persona of the 21st century corporate world and the breakneck advances in technology entail a new and inventive technique to management education in India. The industry demands managerial talent that is equipped with new-age competence and skills. This revamp is likely to broadly reform the outline, content, and delivery of management education in the country. The following transformations are more than awaited now when it comes to management education in the country.

Technical Adoption: The pandemic has quickened the pace of digitalization of education. Over the last two years, students have enrolled in various virtual programs offered by international universities. Many renowned foreign universities have already set up their satellite offices in India. Many others have joined hands with Indian institutions to offer joint degree programs. This competition will grow, compelling Indian institutions to quickly upgrade and adapt their program design and delivery.

Industry-oriented Programs: The current global economic slowdown and the pandemic has brought industrial growth to a standstill. The demand for technical graduates is already low. Except if the individual is equipped with some additional management skills, getting a good profile to work and a satisfactory pay package is an uphill task. Recruiters are already looking out for better arrangement between management education curriculum and their job requirements. Specialized management education and qualifications have already become imperative. It is therefore of sheer importance to gain management skills that would add to the learning in a practical based business scheme.

Management Education at Avantika University:-

Considering the fact of the global business situation and the current socio-economic phase, it is concluded that a textbook Management Education is not only the need of the hour, but also it is a professional prerequisite of the current era. Referring to the current era of lively, highly competitive, knowledgeable as well as ever demanding consumer community, the need for skilled management professionals has changed, irrespective of the industry. Answering to the changing demands, at Avantika University, we stick to our pedagogy of project-based-learning even with management education.

At Avantika University, under the School of Management, we offer BBA, BBA (Hons) and MBA programs and are top mba colleges in madhya pradesh, under the below mentioned specializations.

  • Business Studies
  • Finance
  • Marketing
  • Supply Chain and Logistics
  • Business Analytics
  • International Business

- Written By
Punit Lalwani

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