Ancient India has been a creator and repository of a vast body of knowledge. However we have not been very systematic in documenting that knowledge for various reasons. One of the reasons could be our temperament – to specify more on that front … We pay attention to abstract phenomenon rather than creating or codifying concrete systems or institutions. I think the same plight affects modern management education in
India. The premier institutes (or Tier I Institutes as they are called) have seen compensation levels reaching an astronomical high. At the same time there has been a proportionate increase in the compensation levels at the second rung management institutes as well. However one would like to ask what are the concerted efforts taken to enhance the skill levels of the students ?
I happened to visit as part of the Campus Placement process at least 40 to 45 different Management institutes in 2006-7. Let us leave aside for the time being variables like availability of slot , compensation levels offered by various companies , profiles offered by the recruiters et al . The general observation was that a) the communication skills of the students were far from satisfactory b) lack of practical skills i.e. accounting knowledge, practical application of concepts for fields like HR. c)lack of awareness of the skill level requirements in the industry . At the same time most of the students came across as extremely confident[ Henry Mintzberg did mention once in his characteristic style that Confidence without competence borders on arrogance ]. The students are indeed highly open to all kinds of inputs and moldable . However the industry requires more advanced skills and the students have to go through a steep learning curve .The students per se are not at fault as they have not got the right inputs . As result the there is a mismatch between the actual yield and the industry expectations . If we take a Systems view of the whole situation then we will have to make changes at the input stage itself so that there is a consequent change in the process and thus the final output . Thus industry will have to actively collaborate with the education sector to create talent for the future. Talent creation itself will become an important HR activity going ahead. Organizations like TCS, Infosys , ICICI have already started collaborating with institutes to evolve specific curriculum that suits their interests . In addition to this there are many institutes that have evolved insurance specific courses( taking cognizance of the booming insurance sector in India ) , institutes like NMIMS at Mumbai have started a focused MBA course in Capital Markets . It is interesting to note that management education in China too is more or less in the same state . However we have long way to go before India is able to regain its status as a centre for higher learning …
AV