Classical B-Schools are now transforming into a new model of activity oriented institutions, where Business Management is not taught through books but trained through board room practices and real time projects. Today the traditional syllabus of Business Management cant match the contemporary industrial set-up and managing the highly complex personnels of the day.
Today business schools are put in the necessity to raise Business Analysts, policy makers, CEO rather than a worker, employer or a marketing guy. But in reality the traditional syllabus doesnt help to breed such kind of business technocrats
Today, business schools are put in the necessity to raise Business Analysts, policy makers, CEOs rather than a worker, employer or a marketing guy.
New Business Management courses should deal on analytical skills, out of the box thinking, creative thoughts, and managerial skills than teaching-learning subjects (the course should not be yet another graduation). Students must practice managerial skills and abilities every day in the business schools than just passing the subjects or getting ranks
The change should start from the universities and its affiliated institutions. Syllabus, mode of teaching (methodology), attitudes of the faculty members and the vision of the business schools need an immediate change over. Even the students and parents should accommodate to the modern learning practices in the business schools, which are oriented towards matching the industrial needs.
Strategies needed for grooming business technocrats in future
Imparting corporate culture in the class rooms
» Enhancing industry exposure by getting faculty members from the industry
» Regular face-to-face interactions and group discussions should be conducted with CEOs, CFOs, Finance Analysts, entrepreneurs, and policy makers.
» Compulsory project preparations, pre and post budget analysis and presentations, preparing Bank loan project proposals, finance and share market analysis of top companies
» Specialization through part time jobs in the industries concerned
» Involving students in compulsory market research and survey projects
» In the final year, students may invest in groups and they may start minor businesses and practice the core business management skills like HR, Finance, and Marketing and develop analytic skills.
» It could be made mandatory that Business schools with industrial back ground and corporate exposure only can start and run business schools, where the students can get real time experience. Tie-ups should be made with industries, where the students are trained by the specific industry experts and placements are assured, which should be made an important parameter to accredit the business schools. All business schools should have at least 2-3 tie-ups with the core industries, where corporate culture and day to-day business administration is transferred to Business Management students.
The evaluation system should be modified to suit the above said strategies. Marks or grades should be given more to the industrial exposures than to the bookish answers written in the answer scripts. The industry should be involved in the evaluation system and the business school students should come out with a degree and an industry ready certificate where he/she will be observed by the industry without much further process of selections.
In the coming days, we need business technocrats who can act as crisis managers rather than ordinary managers who just run the show with fancy titles and good old business concepts and ideologies. Business schools should try to understand the need of the hour and be ready to change the system.
10 Most important things you learn in Business School
1. Setting priorities
2. Communication Skills
3. Juggling professional life with personal life
4. Quick responsiveness
5. Developing an analytical mindset
6. Keeping cool in gambling situations
7. Concise presentation skills
8. The way you present yourself
9. Interaction with peers and higher authorities
10. Time Management
About the Author
Prof. R Manickam is the Chief Executive Officer with a demonstrated history of working in the education management industry. He is an expert in Team Building, Management, Employee Training, Soft Skills, and Strategic Planning. The author can be reached at manickam@rathinamtechzone.com