Management education today stands at a crossroad, shaped by an increasing need for graduates who are not only well-versed in theory but also equipped to make immediate contributions in the workplace. As the business world becomes more dynamic and complex, institutions are being called upon to redefine their role in preparing the next generation of leaders. The focus now is on nurturing well-rounded professionals who possess both the technical skills and soft skills essential for success in an ever-evolving corporate landscape.
Dr Raghunath Rudran, Dean - Research, TA Pai Management Institute, emphasised the critical need for graduates who are immediately employable. “When corporates visit campuses, their fundamental expectation is for students to be ready from day one,” he explained. “We address this by collaborating with specialised agencies to improve communication and conduct mock interviews. Internships also play a critical role, as they align students with industry requirements and often lead to pre-placement offers,” he said.
Prof A Venkatraman, Dean and Head, Faculty of Management Studies, the University of Delhi, countered that b-schools must focus on preparing students for long-term leadership, not just immediate employment. “Business schools are not meant to produce mechanics,” he argued. “Our focus should be on solid grounding and a long-term vision. Companies will handle the finishing school part. Instead, we must nurture attitudes such as commitment, passion and the ability to make critical decisions under pressure,” he added.
Prof Deepak Kumar Srivastava, Director, IIM Ranchi, pointed out that graduates need to master three core areas to succeed:
Problem-solving: Navigating complex scenarios with practical solutions.
Connecting the dots: Merging concepts from diverse domains like finance and marketing.
Adapting to unstructured situations: Responding to unpredictable, real-world challenges.
Prof Srivastava also emphasised the importance of aligning curriculum with industry needs, stating that IIM Ranchi continuously updates its courses with input from alumni and industry professionals to ensure graduates are equipped for the future. He further stressed the need to integrate sustainability and social responsibility into the curriculum.
“Sustainability must be infused across all courses,” he said. “For instance, in supply chain management, we emphasise ethical and sustainable practices. Additionally, initiatives like SEWA, where students collaborate with local entrepreneurs, encourage hands-on learning while addressing community needs,” he added.
The landscape of management education is being reshaped by the evolving needs of the corporate world. As companies demand graduates who can hit the ground running, educational institutions are adapting to ensure that students not only meet immediate expectations but also develop the strategic, ethical and leadership skills needed for long-term success.
This critical dialogue was highlighted during the BW Education Future of Management Education Conclave 2024.
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