A Conceptual Paper on How Management Education in India Needs to Adapt Itself to Stay Relevant in The Future.

Abstract

‘MBA’ is still the most coveted degree that the young and experienced graduates aspire for.  Over 5 lakh management graduates pass out each year from either a one-year or two-year programme and seek employment in the corporate world.  However, only a very small percentage of MBAs get to work on managerial functions or as management trainees, where they are groomed for taking on higher challenges of business management.  Most management graduates either find entry level jobs or are unemployed.  Their careers tend to take their own courses unrelated and non-commensurate with their academic qualification.  An ASSOCHAM report of 2016-17, mentions that only up to 20% of the MBA graduates from the non-top 20 institutes get placements (PTI, 2016)[i].

MBA is still perceived to be the passport for employment.  Some of the best jobs in the corporate world open their doors only to MBA graduates. 

Yet, even the most prestigious management institutions are at a crossroads with the future needs.  They realize that their campus placements’ success formula isn’t sustainable.  The skill sets required by corporates also cannot come from the established pedagogy of classroom and case studies.  The relevance to modern business needs is practically absent in the curriculum.

This conceptual paper uses primary research data on future organization structures, emergence of new skills at workplaces.  It uses secondary data on the impact of technology on education.  The data analyzed and synthesized provides a reference plan of action, considering trends in the digital world that will influence curriculum content, students’ interests in pursuing management degree courses and industry’s proclivity to hire management graduates in future.  In essence, it is a strategy for sustenance for MBA institutions.