In the modern economic scenario all over the world- “Management” – as a stream of education and training has acquired new dimensions. Management is an exciting field where you can have an immediate impact on the operations of any business. The field of Management is dynamic in nature. New tools and techniques are continually being introduced to improve the efficiency, productivity, and profitability of any organization. All organizations and their departments, functions, or groups use Management methodologies, which include problem solving techniques and guidelines for various related activities.
Education in management should have mainly following aims:
• Increase the understanding of the factors which influence the conduct of organizations
• Provide students with the tools and techniques that they may use to influence organizational life. Influence the economy in general
A modern day Business Manager is required to have proficiency in:
• Functional knowledge of a business organization
• In-depth knowledge of minimum one discipline of Management.
• The ability to adapt to new environments at micro- and macro- levels
• Problem analyzing and solving.
• Inter-personal skills.
• Knowledge of functional interdependencies and adaptability.
• Communication skills.
• Self-confidence and motivational skills.
• Drive to succeed and control with initiatives.
• Entrepreneurial Skills
• Management skills
Definition of Business Schools
A business school is normally a university-level institution that teaches topics such as accounting, finance, marketing, organizational behavior, strategic planning, quantitative methods, etc. These include schools of "business", "business administration", and "management". It must also make students aware of application software such as ERP, POS, Simulation, SCM & logistics. In addition to this they must also get to learn of the actual running of an enterprise. A business School is an entity by it self and can not be run as a department of a technical school now. Business school must have a branding and that can come from the quality of teaching and their richness. The alumni bring prestige to the school. Placement is a sequel to quality of teaching staff and education provided in the school.
Nature of Management Education
Management education cannot be compared with studying other subject areas like chemistry, physics, mathematics or law etc. Management education can rather be compared with medicine. No doctor is allowed near a patient purely on the basis of theoretical knowledge. Doctors learn the professional skills by acquiring the practical knowledge that is taught by practicing doctors and hence they become experts in diagnosing the real physical condition of patients. In the similar way, in a business scenario also you have to do things, take decisions, take actions, and monitor results. You cannot operate any business by just planning what to do on paper. Planning is, though an important step in the process, there are many examples of businesses with excellent plans having failed because of non-implementation of proper ideas. Management education should actually supplement on job training being given by the companies to the management trainees. It should also develop the analytical skill and improve the ability to assimilate complex external and internal factors influencing an organization.
Who should teach?*
“People who know about business techniques and can teach business management should be involved in running such institute. First of all, the faculty is envisaged to be a special breed of people. They not only have high academic qualifications, but are also Masters or Gurus of the ideas they are discussing, "What we are doing right now" is the keynote among management students but, the thing which really makes a faculty special is the ability to teach and communicate in a very effective way.
One of the important things these people understand is that very few business situations will fit the textbook examples. The comparison with medicine is again valid. Each situation can be described as unique, requiring its own unique solution. To be able to do this, one should be able to analyze a situation, examine various alternatives and come out with solutions to solve the particular problem being faced or to achieve organizational goals.
A qualified faculty understands these situations and can correctly incorporate them into the learning process. Business today is global. Even the smallest company is affected by happenings outside its immediate geographical boundaries. Medium and large companies are automatically involved in cross-border business.
The businessmen and women of today need to understand this, and, where necessary, to be able to exploit the situation. It is not possible today to teach domestic business and global or international business as separate subjects. In the real world of business, few people can be expected to solve a problem themselves. The value of multiple inputs in reaching a better solution is widely understood
Management education enhances the managerial skills by sharing of ideas, the acceptance of others’ ideas and many of healthy discussions. Learning from other approaches is not always a natural and single study process. It has to come with active participation in a group of people and it happens in the Management
Courses. Faculty and other students challenge statements, attack and defend ideas. The assimilation of other approaches forms an important part of the learning process. Students coming from different spheres of life, bring with them all the advantages, disadvantages, fairness and prejudice of centuries of cultural heritage. These characteristics manifest themselves sometimes, in totally different approaches towards solving business problems and learning fundamentals of management. From all of these approaches there is something to learn. A multi-cultured institute enhances the benefits gained from the participatory learning approach.
It is but clear that management education cannot be done in the manner as been conducted in Techno India Group at present. It needs a separate treatment. It is a comprehensive subject that takes in to account the knowledge and technology at micro- and macro-level. Management decisions are the result of complex factors influencing an organization. Management education cannot be offered as textbook education.
Those who are the practicing managers can give better training to Who Should Study?
• Effort should be made to take students who have done GRE and English test TEOFEL or English test conducted by British council. They must also know well one local language. It would help them to perform well in India depending on where they come from. Students having Supervisory Work experience of minimum 5 years or ability to pass such test should be considered. The prospective students must also be subject to other tests for:
• English Language/Spoken and rapid reading
• Adaptability and Leadership
• Analytical/Commonsense ability
• Mental Capacity test
• Personality Test
• Original/Innovative Thinking ability
• Mathematical/ Statistical knowledge
• Computer compatibility
• General knowledge
• Knowledge/Understanding of accountancy, finance & costing
• Knowledge of Indian Economy & world economy
• Knowledge of Indian Politics and system and also World politics and system such an the management students.
Management education is training not typical classroom teaching. Classroom interactions are nothing but exchange of ideas and communication centers. This actually makes it different from other educations such as Technical education and other subjects to go along side management education.
Understanding of social system of the region he/she belongs to and India in general.
• Specific/Subject Knowledge
• Knowledge of all tools such as economic/commercial etc.
• Knowledge/ Understanding of Commercial law such as factories act, sales tax & other taxes.
• Family Background
• Physical fitness/extra curricular activities
What should be offered?
Apart from traditional courses like:
• Human Resource
• Production Management
School must consider offering courses in
• Agriculture management
• Co-operative Management
• Bank/Insurance management etc.
• Public administration
• It is necessary to think of the bridge course.
Practical training is a must for the students of management.
Present situation in India
Private business schools in India are running as departments of technical colleges and that must change. The private education institutions must think seriously to make separate institutions imparting quality management
education. Benefits of such reorganization will be immense to Students will get better education and placement. The institutions will have a chance of getting higher fees from students for giving them such an ambiance. As I understand marginal utility of Management education is so high that students will be willing to spend their two years of expected income on such education. For Institutes to get good companies as clients branding should be a conscious effort of the institutions and that can be achieved by regular seminars and short courses conducted in association with the industry and industry associations. Following are some of the things that can be done while setting up such an Institute:
• There has to be participation of the corporate in the institute
• The Institute must be visible to the corporate
• Institute will have to organize seminars inviting Industry participation
• Regular interaction with Industry in terms of lectures will have to be organized
• There has to be separate identity for the Institute
• Campus will have to be 24x7 open for the students
• It has to be located in an area where some of the teachers can stay in the same campus along with the students who will stay in the hostels.
• Appointment of professors should be done with care. People who have had industrial experience are needed so that they can bring in projects from Industry
• Regular participation of professors in TV show to be encouraged and that also increases visibility.
• Background of the students to be taken in should be given some preference at the time of selection this will help placement. It is a business degree and those who can perform in short time in the industry need to take this course.
• Students must be involved in projects (in house and out side)
• Professors must be able to get projects on their own where students will be involved.
• Institute has to be in the news all the time for some reason or the other.
• Head of the institution should be a permanent invitee to the chamber of commerce.
• Some of the professors should be advisor to the industry.
• Institute should make active effort to get some Government consultancy jobs even if those are at a loss. That would give visibility to the institute. Visibility is the most important thing for branding. Building or some thing like that should be made an image that would identify with the institute.
• Some business should be attached with the institute where the students would be able to actually test their knowledge. For example the present project team should take students from Civil and management to monitor and complete the projects. Students will get exposure and work will be done well.
• Institute or Group should sponsor programs in all the commercial clubs of the city where senior students can participate in the games/competitions of these clubs that will give the acquaintances and jobs. This will also help to make the institute visible to the industry.
• The institute can hold information seminars in the chamber of commerce where industry people can be invited. Once the Institute gets recognition, they can charge some fee for such seminars. Recognition would depend on the quality of presentations.
• Institute can hold yearly lectures seminars inviting eminent speakers to speak on current subjects. It can also hold annual debates in association with any organization or independently inviting leaders of the society and industry.
• Institute can create a chair for people in the industry.
• A website is to be designed.
In short, Brand creation is an active variable that can only be done if it is followed consciously by the organization. It would take years for creating such a brand but we are now living in the era of information boom and that can be used for faster Brand creation. Branding is nothing but Good visibility.
It is advisable to have an exclusive campus for such an Institution. It should house various faculties apart from the central administrative buildings and other facilities.
An exclusive institution of this type will get students and projects from the commercial world. Building as mentioned before but later it must be moved out to an open campus.
I propose that Executive Council and Academic council are made under the institute. The committees will advise the Institute on academics and selection of teaching staff.
Academic Council will have members from the world of academics and industry. Academic council will also help the institute to select lectures readers and Professors as required. The academic council will be headed by the Director/Dean of the Institute.
Where as Executive Council will be headed by the ownership.
Last of all is to give freedom to the head of the institution to operate. Management Institution should be given in-house projects and they must make effort to bring in new projects. The Institution must generate income to finance projects and research.
To improve the education quality of Management Education in India in general it is necessary for the groups to have a focused approach and give education as any other practical course.
Article source : Dr.A.Chakravartty, http://hosteddocs.ittoolbox.com/