Role Of B-schools In Encouraging Innovative Thinking

In today's fast-paced and constantly evolving business landscape, innovative thinking has become a crucial skill for success. But what role can business schools play in encouraging this thinking among their students? 

We must, to begin with, define what we mean by innovative thinking. At its core is the ability to come up with new and creative solutions to problems and see opportunities where others may not. It is about thinking outside the box, taking risks and constantly seeking new ways to improve and grow.

Despite the importance of innovative thinking in the business world, it is not sufficiently emphasised in the traditional business education. Instead, many business schools focus primarily on imparting technical skills and theoretical knowledge, with limited attention to fostering creativity and innovation.

But all this is starting to change. The B-Schools are increasingly recognising the importance of encouraging innovative thinking and are taking steps to do so. Here are a few ways they can do this:

Incorporating design thinking and creative problem-solving techniques into the curriculum

By teaching students how to approach problems more holistically and humanistically, they can think more creatively and come up with different, more innovative solutions.

Providing opportunities for students to work on real-world projects and startups

By giving students a chance to apply their classroom learning to a practical setting, they can gain valuable experience and develop their innovative thinking skills. It will also inculcate the spirit of entrepreneurship for those  aiming to look at the world of problems from their perspective and arrive at creative solutions.

Encouraging interdisciplinary learning and collaboration

By bringing students from different backgrounds and disciplines together, they can learn from one another and develop more diverse and unique ideas. Cross culture interaction programmes, national and international, should be organised and supported by institutions to render students a holistic view of the diversity in people, culture, demographics and economy.

Exposing students to diverse perspectives and industry experts

By exposure to experts in different fields and learning about other cultures and ways of thinking, students can broaden their horizons and develop a global perspective.

Building a culture of experimentation and failure

B-Schools should create an environment where students feel comfortable taking risks. By experimenting with new ideas, they can learn from their mistakes and ultimately become more innovative thinkers and leaders.

There are a few examples of international business schools that have successfully implemented programs and initiatives to encourage innovative thinking. For instance, Stanford University focuses on design thinking and human-centered design, and its students have started successful companies. Additionally, the innovation program allows students to work on their startup projects and learn from successful entrepreneurs. 

Encouraging innovative thinking in business education can significantly impact future business leaders' success. By fostering creativity and innovation, we, as business schools, can better prepare students with the right exposure for the challenges they will face in the real world. Additionally, various on-campus programs for startups with national and international exposure will go a long way in the development of teambuilding and leadership skills among students, making them future-ready. 

It is, moreover, high time we encourage the shift towards innovative thinking. We must move away from the age-old method of lecturing and theory. Instead, the students must be provided with real hands-on experience to scale their ability to excel in their endeavors outside the institute campus.

Innovative thinking is an ongoing process and business schools should constantly be experimenting and adapting to stay at the forefront of fostering innovation. 

Anil Somani

Guest Author The author is Chairman of FOSTIIMA Business School