Future Of Management Education

Management education is seen as elitist in India. Young women and men are fascinated by management education not because they need some education, experience and exposure to create something wonderful and hence helpful to society but are generally motivated by the positive consequences associated with management education.

21st century India experienced a massive change in its educational structure. The process of liberalisation, privatisation and globalisation has not only replaced the conventional approach with a more efficient professional approach; but also introduced new-age courses in line with industry demand which has more economic value in the present time. Management education has got a new dimension with this evolving time.

"The market and the fundamental change that needs to happen is about the change in metric that we are using. And the change in a metric that needs to happen here is that we need to go beyond the metric of GDP, profit maximisation to a metric wherein we really say that it has to be about how are we really impacting societies," says Dr Amit Kapoor, Chair, Institute for Competitiveness, Visiting Scholar and Lecturer, Stanford University, underlining the future of management education.

There is also a need that our dependence on foreign techniques and literature should be reduced and management teaching should be based upon practical experiences deriving power from
Indian ethos. Management education needs to be made value-based, rather than money-based.