Profound Understanding Of Industry Functions Required

Academic learning is crucial; however, the need of the hour is a profound understanding of industry structures and functions. The focus should extend beyond technical training to instill a deep understanding of industry operations. "Whether fresh graduates or those with varying levels of experience, the focus should extend beyond technical training to instilling a deep understanding of industry structures and functions. Classroom engagement strategies were at the forefront of his recommendations, advocating for a shift towards more interactive and critical thinking-oriented models, such as the flipped classroom approach," said Prof. Arvind Sahay, Director, MDI-Gurgaon.

In addressing the pressing need for a more industry-ready workforce, Dr. Harivansh Chaturvedi, Director of BIMTECH-Greater Noida, emphasized the importance of schools understanding ongoing changes, training faculty, and modernising curricula. The gap between academic teaching and industry demands was a recurring theme throughout the panel discussion. He said that the unique challenges faced by management schools in adapting to the ever-changing dynamics of the industry, business, and global geopolitics.

Diversity emerged as a crucial element in enriching the educational experience. Sahay highlighted the significance of incorporating European perspectives alongside the commonly adopted content from the US. This global approach aims to equip graduates with a holistic understanding of business changes on a broader scale.

On the other hand, Dr. Srinivasan R Iyengar, Director of JBIMS, Mumbai, took a distinctive approach by considering students as customers and the MBA programme as a product. By viewing education through this lens, he emphasised the importance of delivering a quality educational experience that maximises the lifetime value and customer acquisition value for students.

Dr. Iyengar added that the value of practical experiences, such as research papers and seminars linked to industry practices, enhances students' overall learning experience.

Collaborations with industry professionals were highlighted as a key strategy for addressing real-world problems and providing students with exposure to the intricacies of the business world.

The BW B School Summit and Awards 2023 brought together eminent personalities from the academic realm to delve into the evolving landscape of management education.

Bhupendra Paintola

BW Reporters The author is Trainee Correspondent with BW Businessworld