Most MBAs today are fairly well versed in their theory but fail to translate any of the ideas into actual action. Many modern management programs, particularly undergraduate courses, place too much emphasis on theory-led practice and tend to overlook the immense value a student can derive from practice-oriented theory. This has led to a general industrial atmosphere of disenchantment and disenchantment among management school-trained candidates. According to The Associated Chambers of Commerce & Industry of India (Assocham), only 20 percent of students graduating from B schools in 2017 have a job offer. According to the All India Council for Technical Education (AICTE), only half of the graduates are placed by B-Schools approved by it. Employers increasingly say that new-age managers have to offer more.
This may or may not come as a surprise given the sheer number of institutes offering MBA programs in India. Numerous institutes are nothing more than ostentatious buildings, with Wi-Fi and laptops for everyone. Unfortunately, they lack the vital infrastructure most important to producing employable, industry-ready managers of the future. Many do not have highly qualified faculties, others are unable to keep up with market realities, and still others still have poor placement services. This awards the student with a degree or diploma, but unfortunately does not equip them to engage with the real world in many ways.
Given the current market dynamics, economic situation and ever-changing work environment, it is important that MBAs not only hit the ground running, but are also able to acclimate and adapt quickly. However, the reality is that most management students go straight to college after earning their bachelor’s degree and have no work experience. Realistically, this means that after completing an average management course, they know the theory but are unable to translate those ideas into work-related actions. They lack the insights and skills that are so important to functioning effectively in the workplace.
Also, the actual B-School curricula are very often taken directly from the West. While this gives them a good grasp of international theory, it often fails to take into account the huge paradigm shift, the difference in context that actual work in India will bring. There are huge cultural differences, not to mention greater diversity in almost every possible segment, much higher actual or potential growth rates, and much more regulation in emerging markets.
Here institutes with a focus on more industry experienced faculty who rely heavily on corporate connections and who have a history of bringing in experts from actual market sectors will gain over courses designed with an academic focus. Academic content tends to be traditional and slow to change. However, the market in India and the world especially in sectors like financial services, airlines, media, communication technology and more is changing much faster than the academic field. Revised curricula that focus on real-world issues are useful, but a far greater role can be played by “insiders”; experienced members of the middle to senior workforce who can share their invaluable insight and practical knowledge of how things work.
Experiential learning is much more sustainable than just theoretical knowledge. In addition, internships can play an important role in giving the student a taste of reality. A combination of good internship positions and industry experts can equip the student with the ability to make quick and flexible decisions, take calculated risks, use multiple media and communication channels to maximize efficiency, and get a hands-on feel for marketing, see business processes at work, learn to balance risk with reward, and more. Classrooms, which use the discussion/workshop model rather than the lecture format, can be combined with case studies to address immensely complex issues through real-time dialogue, debate and domain-based knowledge.
Additionally, management students preparing for the workforce of a new – global – world must also learn the softer aspects of management. Part of a manager’s job – a very important part – is communication. Other soft skills such as presentation skills, teamwork, language skills, active listening, global good behavior, business and professional ethics and more complement managerial skills. The New Age workplace is not built on theory alone, or academics and management students need to be as dedicated to soft skill development as they are to completing their “prescribed courses.” They cannot afford to focus solely on writing and taking exams, they must pay attention to what businesses really need in this changing world. Attending industry linking events alongside soft skills training can contribute to these skills and make managers of the future Industry Ready.
In short, aspiring future managers and entrepreneurs need to find a management course and B-School that emphasizes current academic curricula. A pool of industry-experienced and practice-oriented specialist lecturers, excellent company connections and industry links through several events; Optimal internship positions; Appropriate emphasis on soft skills development and training; And last, but not least, outstanding balance of the last placement history. This will be the way to ensure future success.
Thanks to Jia Mata | #Choose #Business #School #Ensure #Employability #Future