Quality Over Quantity Will Define Future B Schools: Shiv Shivakumar

Quality and adaptability will define the future of business education, emphasises Shiv Shivakumar, Chairman, MTPL and Advent Private Equity. He highlights the pressing need for business schools to shift their focus from quantity to quality, innovate their offerings and align with global industry standards to stay relevant in an ever-changing world. "India houses 6,000 of the 14,000 global business schools, yet we prioritise quantity over quality," he stated.

Outlining a roadmap for transformation, Shivakumar underscored the importance of understanding student aspirations, building strong industry connections and reshaping revenue models. “Business schools must embrace differentiation, prioritise delivering value and equip students to thrive in global markets,” he asserts. Shivakumar advocated for integrating AI, sustainability and DEI into curricula to prepare institutions for the challenges of the future.

Key drivers of change in business education
Highlighting 12 key points, Shivakumar provided a roadmap for business schools to adapt to future challenges. “Business schools must understand their primary consumer, the students, who come to enhance their financial prospects or to complement their basic degree,” he explained. He noted that 70 per cent of MBA students in India take loans, making starting salaries a significant factor in their decision-making. “Our responsibility is to align with this reality and focus on delivering value,” he added.

New models of learning and funding
Shivakumar argued that fee-based revenue models alone would not sustain business schools in the future. "Non-fee revenue streams, such as executive education and naming rights, must become larger than the traditional fee income," he said. He cited examples of schools that have successfully shifted their focus to management development programmes, noting their potential to surpass student fees as a revenue source.

He also emphasised the importance of reshaping academic offerings. “Specialisation in areas like AI, sustainability and DEI must be embedded across all courses, not confined to standalone modules,” he remarked, underscoring the need for future-ready curricula.

Industry connect and placement as core priorities
Shivakumar stressed the importance of robust industry connections, describing them as a cornerstone for a successful business school. “Industry engagement through management development programmes, research collaborations and internships can significantly elevate a school’s profile,” he noted.

He also advocated for a professionalised placement process, calling it a “12-month activity, not a two-month sprint.” Shivakumar added, “Students cannot manage placements on the side; it requires a dedicated team or outsourcing to a professional agency to ensure long-term institutional relationships with recruiters.”

Role of faculty and campus experience
Rockstar faculty, according to Shivakumar, are a critical differentiator for top business schools. “Great faculty not only attract quality students but also elevate the institution’s reputation globally,” he said, citing examples of prominent professors who have drawn students to prestigious institutions.

He also touched upon the evolving preference for online education, noting that while online courses provide flexibility, students still value the campus experience. “The pride of being part of a campus community and the opportunities for peer interaction are irreplaceable,” he explained, encouraging schools to make their campus offerings exceptional.

Preparing students for a global stage
Shivakumar called for redefining what it means to develop global leaders. “Global doesn’t mean token international faculty or exchange programmes. True globalisation is when international recruiters value your MBA graduates,” he said, urging schools to focus on producing leaders equipped to thrive in global corporations.

He concluded by calling for greater collaboration within business schools, robust PhD programmes to drive research and a future-focussed academic dean to refresh curricula every two years. “The world is changing rapidly and business schools must keep pace. Teaching 1990s concepts in 2025 is a recipe for irrelevance,” he warned.

The speaker was present at the BW Future of Management Education Conclave.

Satyam Mishra

BW Reporters The author is a trainee correspondent with BW Businessworld