A Review on Major Challenges and Significant Opportunities on Management Education in India

Abstract

It has been hotly contested that while academics of Indian descent, like Nitin Nohria Dean of the Harvard Business School, are in charge of the best B-Schools in the world, B-Schools in India are having difficulty breaking into the Top 100 Global Institutions. Out of the top 100 institutions, 55 are American, followed by British Columbia and Canada. As a percentage of GDP, India spends more on education (4.1% vs. 3.6% in Japan and 3.8% in Russia). We frequently question the quality of “Made in China” products, but China clearly outperformed India in terms of management education standards. There are 230 business schools in China compared to more than 2000 in India, but there are only 10 AACSB (Association to Advance Collegiate Schools of Business) accredited institutions in China. India’s management education is in a terrible state. More than 110,000 management graduates from various B-Schools graduate each year, but only 5% of them achieve professional success within the first five years of their careers. The emphasis at India B-School is on quantity rather than quality. It had shifted from being value-based to being money-based. A crucial component of management studies is exposure to the industry, and the current system does not offer sufficient industry interfaces. The time allotted for industry exposure is about two to three months, which is relatively short when compared to other top B-schools in India and abroad under the current curriculum created by Indian Universities. The coordination between academia and industry is also lacking. This essay aims to analyze the current situation and shortcomings of management education in India. Additionally, it should be improved in order for it to meet international standards.

Keywords: Value Based, Quality, Interface, Exposure, Professional Heights, Curriculum

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