Role Of Management Education In Shaping Future Managers And Entrepreneurs

When we talk of management education, we areimparting management education.
basically referring to shaping up the students, aimedProfessionalism in MBA/PGDM Education
towards developing their competency and capabilityThere are many reasons for the wide differences in
either as a manager fit to join an organization and helpthe quality of management education in different
it to grow or as entrepreneur, to establish and growinstitutes in India. The main reason is the absence of a
one's own business. This capability does not comebody that can ensure that the standards set are
from possessing a management diploma or degree,practiced and retained by all management institutes, like
but also requires developing in the students the will andAACSB in USA. We do have an apex body – the
skill to contribute for self sustenance and nation building.All India Council for Technical Education (AICTE), that is
Presently it is seen, that there is a wide gap existingresponsible for setting the basic framework, guidelines
between the type of management education impartedand standards for quality of business education, there
in MBA colleges and what is there in real lifeare however many problems when it comes
management in business organizations. In order toimplementation of these standard by MBA colleges
make management education more realistic and usefuland these problems undermine the effectiveness of
for the industry, certain key areas need to be identified.these standards. In order install quality in management
These could be:-education in India, the AICTE and MBA colleges /
(a) Benchmarking quality management education touniversities in the country should focus on the following
create an enduring quality managers andissues:- • Quality of faculty
entrepreneurs.• Infrastructure development
(b) Bring in professionalism in management education.• Accountability of management institutes
(c) Adequacy of qualified and competent faculty• Values and ethics
members, proper infrastructure, support facilities and• Role of professional bodies (AIMA, ISTD, etc).
regular updating of curriculum.Adequacy of Qualified and Competent Faculty
Benchmarking Quality Management Educationmembers, Infrastructural Facilities and Updating of
Benchmarking with the top management collegesCurriculum
inspires an institute to produce quality managers.• The institutes running MBA/ PGDM courses must
Management education needs to include knowledge,have core faculty in main areas of management.
skills and abilities (KSA) that are needed today andFaculty must meet at least one of the three criteria
that will be needed tomorrow by the industry. Therequirements, namely – consultancy experience,
mission of management education should be toresearch experience in management or knowledge of
become innovative and creative. The objectives ofthe latest management trends in terms socio-technical
benchmarking should be to:-systems and managerial techniques in the industry. The
• Make own students employable in industry.other aspects considered are:-
• Moving the institute from academic mode to• Infrastructure and facilities: These must include
corporate mode.class rooms with multimedia and projection facilities,
To achieve these objectives the agenda should be:-computers and peripherals and a good library with
(a) To identify the industry expectations of the skillcollection of books on all management subjects.
sets required of students.• Updating of Curriculum: The management courses
(b)To identify the areas of Total Quality Managementand programmes being conducted in the institutes
(TQM) in management education.must be in line with the current requirements of the
(c) To identify the changes required in teacherscorporate world and other organizations.