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Management Education Trends What, according to you, are the emerging trends in Professional Management Education in India, aswe movetowardsaknowledgeeconomy?Have students been interested in pursuing research after completing their course? Research Trends in Management Education: Renewed Emphasis on Holistic Approach
Prof. Kuriakose Mamkoottam, Dean, FMS
Prof B S Sahay, Director, Management Development Institute (MDI) “Management education in India needs to consciously focus on maintaining excellence and quality. The mushrooming number of business schools with proper accreditation is a positive aspect, although teaching standards have to be maintained. However, one of the disturbing trends has been the decline in the ranking of management education. The World Economic Forum Report 2007, on management education in India, ranked it at 8th position. By 2008, it came down to 12th position. 2009 saw further decline in the ranking. This trend has to be arrested, and therefore, quality education in management is crucial. 16
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Prof Kuriakose Mamkootam, Dean, Faculty of Management Studies (FMS), Delhi University The research undertaken by the faculty at FMS is largely in their own primary background such as Sociology, Commerce, Finance and related areas. Management is an interdisciplinary subject and therefore research topics vary accordingly. Corporate governance, poverty alleviation, entrepreneurship, and various kinds of health care systems are some of the few areas of research.” The trend in management education is moving towards a holistic approach, which not just focuses on profit maximisation. The empahasis is to locate business in a larger societal context. Myriad stakeholder perspectives, and not just that of the investors, are to be taken into consideration. Therefore, issues like Corporate Social Responsibility, Corporate Governance, Work-life Balance are the emerging areas which business education has to adjust to sooner than later. From the curriculum perspective, changes occurring in the industry would also reflect in the course content. The attempt is to make the curriculum relevant and contemporary. We are in the process of revising the syllabus thereby incorporating these changes. With regard to students’ interest in research, very few pursue research immediately after completion of their course. The salary packages are quiet enticing, and it is difficult to retain students for the same. Usually, some of the students work for a few years, gather experience and come back to pursue academics and research.”
The younger management graduates should also be encouraged to pursue academics to meet the dearth in the number of teaching faculty.” Dr H. Chaturvedi, Director, Birla Institute of Management Technology (BIMTECH) “The recent developments in the world economy have had major influence on the trends in management education. There is a renewed emphasis on business ethics. The focus is now heavily on key areas including Business Ethics, Corporate Social Responsibility, Corporate Governance, and Sustainable Development. Some of the new areas that have emerged include: Management of business during recession or
slowdown; Management of risks arising out of national and international relations; Entrepreneurship; Micro-Enterprise and Micro-Finance; Micro-Insurance; and Social Entrepreneurship. Most of the students are interested in taking up lucrative jobs after they finish their course, and it is difficult to bring them towards academics. However, last year, owing to the economic slowdown and the dearth of campus placements, we had started the Research Fellowships programme. Seven students had enrolled in the programme and are pursuing PhD and also earning a stipend. Management is an inter-disciplinary field and the research areas vary according to the area and interest of students.”