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THE PAST AND PRESENTOF MANAGEMENT EDUCATION ININDIA K.R. MangalamUniversity
THE PAST AND PRESENT OF MANAGEMENT EDUCATION IN INDIA In the past few decades, management education has become one among themostcoveteddisciplines globally,whichespeciallygainedgroundasa result of globalization, privatization, and liberalization. Being a relatively context-speci2cdiscipline,managementeducationoftenundergoes frequent changes. There have been a lot of changes in the domain of management education in the past that had to be handled by business schools to stay relevant with the industry advancements. Right from the recent technological advancements to the industry approach, there have been rattling changes in the sphere, and management education always got updated with it. The economic growth of India in the recent past and theneedtosustaintheexistinggrowthhasforcedB-schoolstoaccelerate theiradoptionofnewmethodologiesinthemanagementeducation system. There have been a lot many transformations that have taken place in the sphere of management education and it would be interesting to knowthe past structures and how they differ from the present conditionofmanagementeducationinthecountry. Currently, there is a high number of management graduates passing out every year in India, providing a tremendous potential for management professionals to contribute to the country’s economy and creation of a ‘knowledge society’. However, the challenges in management education impose the need for a constant change in the educational structure of management. There needs to be a regular upgradation of the course contentandcurriculumandintegrationofthemanagementeducationwith the corporatesector.
THE PAST AND PRESENT OF MANAGEMENT EDUCATION IN INDIA Ideally,the qualityandnatureof management education iswhat determines its pursuers’ understanding of modern business and economies. Standing by the traditional approach of management education in the current business scenario will do much disservice to the students as well as the employers. This is why it is important that business schoolstodayadopt acompellingcurriculumthatisrelevanttothecurrent economic scenario. B-schools need to appreciate the existing and upcoming changes in the business sphere and review their curriculum, learning pedagogy, and the faculty to meet the current requirements of the industry. With the corporatization of businesses, there is a rising requirement of highly-skilled job-ready individuals who are equipped and effcient to understand the bigger picture of the economy and contribute to the organization’s growthtrajectory. Management Education in thePast: In ancientIndia,managementwasa partofourcivilization.Itwasonlyafter the globalization that the face of egalitarian education in India changed, posing newer challenges to management education. The later years of management education demanded learners to think out of the box to handle new ideas, challenges, and opportunities of the globalized world. The growth of formal management education in India is hardly a half- century old when newbusiness schools established by government started offering MBA programs. By the year 1990, there were 82 university-basedmanagementdepartmentsacrossthecountry.
THE PAST AND PRESENT OF MANAGEMENT EDUCATION IN INDIA Present Condition of Management Education inIndia: Currently,themanagementeducationisseeingtwoemergingtrends–the globalization of management education and the increasing usage of technology.Itisnodoubtthattechnologyandglobalizationhavede2nitely shrunk the world. As a result, there is an increasing need for global exposure in management education and this is why reputed b-schools today are coming up with exchange programmes and joint degrees, collaborating with international colleges/universities to offer a global curriculum and diverse learning experience to students. Global immersion programs are the trend today that allow students to do live projects overseas, giving them a real-world exposure in a different setting and context. Such programs prepare students for global leadership roles, which is indeed a much needed trait for today’s corporate businesses. Moreover, this kind of cross-cultural exposure in business setting contributes to the skills development and imparts valuable experience to students. The past two decades were challenging years for business management education as the increasing globalization and technology have become the drivers of the new economy. The signi2cant changes that the management schools went through in the past decade was with respect to the diversity of the student pro2les and the industry involvement. As a result, MBA programs became popular not only among students but also working professionals. The entrance criteria changed and many business schools started giving credits for the experience beyond test scores. Similarly, the involvement of industry has been increasingly popular in the recent past with business executives and industry experts coming on board as visiting faculty, guest lecturers, and for research collaborations. Apart from that, industrial involvement led to live projects and industry internships for students, giving them the opportunity to gain practical knowledge and experience in a real-world business setting underthe guidance of industryprofessionals.
THE PAST AND PRESENT OF MANAGEMENT EDUCATION IN INDIA The invigorating blend of globalization and technology has madebusiness schools the best place for students to learn and grow. In that regard, K.R. Mangalam University is keeping pace with the modern transformation and is emerging as an eminent institution in the recent years. No wonder, KRMU is already listed among the best management institutionsin the country. Our university takes pride in its modern infrastructure and technology along with a professional and highly-quali2ed faculty, who provide the adept and extensive resources in their respective 2elds. Management graduates at K.R. Mangalam University are equipped with skills and knowledge required for the future business world and are enabledtolearnthebestindustrypracticesacrosstheworld. Overall, knowing the opportunities and challenges of the future business environment, KRMU offers its students the right mix of modern curriculum and industry interface that enables them to match the current and upcoming industry practices and excel in the sphere of business, not only onthenationallevelbutglobally.