– Aanchal Dangwal
Traditionally the stream of Management education has always been considered an amalgamation of science and humanities disciplines. The liberalization policies followed by the government of India in the 1990s resulted in the opening up of the economy and ushered in an era of globalization. As the world economies became more and more inter-connected, the management and control of organizations assumed alarming complexity. The fast pace at which the economy moved necessitated a tectonic shift in the dynamics of the managerial decision-making process, bringing about a sea change in the field of management education. As we witness today, Technology is fast turning out to be a great leveler. Cutting across boundaries has ensured that in today’s dynamic business world, there are a few differentiating factors between organizations.
Technology, as they say, is a good slave, but a bad master. Contemporary business houses must have the means to harness the technology ahead of their competitors, or else they face a very real threat of being enslaved and wiped out. Organizations all over the world are struggling to find just the right managerial resources to effectively manage these changes for maximizing their objective. For it to be a practical reality, business schools must pause and rethink why most of their business graduates are just reduced to numbers as they struggle to find jobs in today’s market. It is ironic to witness that on the one hand, there are a large number of BBA and MBA graduates passing out from various business schools, and on the other, the companies are struggling to find and employ “just the right person with the desired skill set, education, and values”.
In order to be meaningful and relevant in the contemporary volatile business environment, it is imperative that the business schools get their act together and develop their curriculum in such a way that there is a seamless integration with the contemporary corporate requirements.
