Research Is A Significant Factor In Business Management: Dr Shuchi Gautam, TGBS

Dr Shuchi Gautam, working as deputy director and professor of finance at Thakur Global Business School, is a qualified Chartered Accountant with a master’s and a bachelor’s degree in Commerce. She holds a doctorate degree in Financial Management from Savitribai Phule Pune University. Her PhD research concentrates on mergers and acquisition deals of selected pharmaceutical companies. She has a total experience of 18 years in academia and industry. She has received Distinguished Service awards from AIMS International for her significant contribution towards management education. Edited excerpts of her recent conversation with BW Education: 

How has tech been added in every job role that is leading to new emerging job profiles in the management field? 

The way technology has now been integrated into every aspect of job roles has made a huge impact in transforming the total nature of jobs across all industries, particularly in the field of management. In the ever-evolving digital ecosystem, the combination of technology and management has created many new and interesting job opportunities. The advent of AI (Artificial Intelligence) and data analytics have completely transformed traditional management roles. Positions like data analysts, business intelligence specialists and predictive modelers have made their place in the industry because of the rise in the importance of data-driven decision-making, making these jobs lucrative and in-demand.

What support management institutions can give to their students to become successful entrepreneurs?

Management institutions play an important role in nurturing future leaders and entrepreneurs by offering their students a comprehensive support system. They provide specialised academic programmes that combine theoretical understanding with practical knowledge, equipping students with the necessary resources they need to succeed as leaders and entrepreneurs. Management schools also provide experiential learning opportunities through internships, consulting projects and startup incubators. For students who want to start their own business, management schools can provide support such as funding opportunities and can help them create a powerful business plan. They can further help students with networking and mentorship opportunities with investors and business owners.

What in your view is the importance of industry experts visiting management institutions to impart their expertise to the students?

The importance of industry experts visiting management institutions to impart their expertise to the students cannot be overstated. These industry experts offer real-world insight and practical knowledge to the students making them understand the industry dynamics and trends. They prepare the students for the opportunities and challenges they have to face in their careers by sharing their experiences. Industry experts also provide fresh perspective to the students ensuring that the students are well informed on the recent advancements and industry best practices. The presence of industry experts in management institutions enriches the learning experience of students to survive in the industry.

Are more students opting for jobs or coming up with their startup ideas?

A lot of students tend to seek employment after their post graduation because of factors like financial security, job security and the privilege of working for well-established companies. But the choice of opting for jobs or starting their own business depends on several factors including cultural, educational and economic influences. In the past few years, there has been a noticeable shift towards entrepreneurship amongst students. The rise of technology and the risk-taking culture have played a crucial role in fuelling this trend. This entrepreneurial mindset is also enhanced by entrepreneurship programmes and initiatives in educational institutes which provide the students with the resources and encouragement they need to start their own business. There is a growing interest in entrepreneurship and startups because they give students the freedom to work on their own time and plan according to their creative ability.

What is the significance of research in business management?

Research is an important factor in business management because it offers insightful information, drives innovation and informs the decision-making process. Research helps in identifying consumer preferences, market trends and competitive environments that help firms prepare for changes and modify their plans accordingly. Research also helps make it easier to create new goods, services and business models by identifying areas of improvement. Market research helps businesses in satisfying their clients better by validating ideas, improving offers and optimising value propositions. Research also promotes innovation and ongoing learning in the field of business management by advancing knowledge.

Upasana Sharan

BW Reporters The author works as a Senior Copy Editor with BW Businessworld and currently handles the education vertical. She has done her Post Graduate Diploma in English Journalism from the Indian Institute of Mass Communication (NER Campus, Aizawl).