subject: The Challenging Phase Of Business Education In India [print this page] With so much competition in the job scenario, everyone is trying to specialized study programs to be noticed. More and more are willingly joining the management programs available in the country. The innovative management courses are helping jobseekers in getting good jobs across all sectors. Not only the management education prepares individual for corporate life, it also paves a good career graph. However, with times, the business education in India and other parts of the world is getting challenging.
We all know, business studies play a vital role in todays fast paced corporate environment. The rise and fall of economy makes organizations difficult to survive. The growing competition and fluctuations in the corporate world require even the management education to change according to the requirements. There are many job requirements, which come up in the changing corporate scenario. This demand has led to many business schools of India develop management education that becomes relevant according to current times. The education imparted to students need to come match with the changes happening in the society. The business schools are also trying to be close contact with the industry.
To deal with such issues there was a conference held and reputed schools participated in it. The senior associated dean of Hong Kong University of Sciences and Technology opined that businesses done in Asia have huge demand for professionals with qualified management skills. There are new challenges, which require innovative business models. He shared this opinion while participating in the Global Business School Networks 7th annual conference. He further added that business schools should work with leaders, who are inspirational and ready to give back to society.
In this annual conference, delegates from international business schools participated. Also participated are development and industry stalwarts. The participants also discussed the issue of management talent shortage in this fluctuating economy. The topic of this conference was 'Making the Connection: Management Education Powering Development.' This conference was organized for the first time in India with collaboration with the Institute of Management Education and Technology (IMT) in Ghaziabad. This is one of the well-known MBA colleges of India.
The director of Lagos Business School said that looking at the challenges in Africa, there is requirement of more business schools and qualified managers. In addition, there is requirement of qualified faculty and impactful curriculum.
This conference also discussed the business education in India and what problems the Indian corporate houses are facing. The director of IIM, Bangalore, one of the well-known MBA colleges in Bangalore, said that there are about 3000 business institutes in the country. However, not all of them are able to able to match to the standards of education required in India. The director further said that those who are not able to meet the quality of education would have to eventually shut down.
In this conference, another important issue that is plaguing management education is also discussed. The rising cost of business studies is the cause of concern for many developing nations. Many said that keeping the cost of education low is difficult as business in getting costlier. Some business institutes have tried to bring down the cost of education down by buying case studies and copyrights.
Keeping the Indian scenario in mind, Indian business school director suggested that Indian institutes could make use of hybrid models.
