Faculty hiring to research culture: Some challenges B-schools in India face

The environmental impact of businesses is now an issue of global importance, and B-schools must respond

Business schools are considered to be the Holy Grail for those lakhs of students who wish to gain an entry into the corporate world, leading to a prosperous future (or at least a high-paying first job!). With India being among the few economies in the world which are still growing, businesses will need to expand and will require skilled managers who can lead organizations into the future.

However, indications are that management education is fighting to stay relevant in the contemporary business scenario. With the business environment being volatile and complicated and evolving rapidly, business schools need to stay in step if the education they are providing is to have any real value. Business models are being constantly redefined today and even legendary companies like Apple are struggling to find their next winner, which means that being agile is a key attribute of a business leader today. Hence, the role of B-schools is no longer only to teach students “business” subjects like Marketing or Finance, but also to teach them how to think innovatively, operate with insufficient data, and make decisions keeping multiple variables into account. Additionally, all business is now global, which means that you need to be aware of supply chains, duty structures and taxation laws; and even more importantly, how to work with people from different nationalities in a productive manner.

The challenges are many, and there are few obvious solutions. The handful of top-tier B-schools, which have very few seats, might be in a position to make these changes as they have the academic and financial wherewithal, but even they need to be much more nimble and attuned to constantly changing realities. However, the Tier 2 and Tier 3 B-schools do not have the required academic rigour, affiliations with leading companies for campus placements, or access to global benchmark practices. Faculty hiring also remains a challenge. It is vital that the faculty be aware of the latest developments in the corporate world, engage in cutting-edge research and develop case studies on a regular basis. However, in most cases, this intellectual capital is not available in abundance.

Another challenge is the curriculum which is not updated regularly, creating an enormous gap between organizational expectations and the ability of students to meet those expectations. Further, a research culture is almost absent in most B-schools, and the absence of quality industry mentorship/experiential learning is an issue as very few academics are aware of the actual ground realities of the businesses. This ends up making the students’ suitability for modern corporate careers questionable. The need of the hour is to shift from theoretical knowledge to applicable knowledge. B-schools today mostly teach 20th century management principles, while the world is well into the fourth Industrial Revolution. Much more real-time data needs to enter the curriculum, and actual issues being faced by business leaders across the world must find their way into the conversation from day one. Pedagogy needs to move beyond classroom education and into experiential learning, including training with organizations, live group projects, and AI-based simulations of actual business situations.

Crucially, students needs to learn how to work with people from diverse backgrounds and in geographically scattered teams, which requires soft skills including written and spoken communication.

Lastly, the environmental impact of businesses is now an issue of global importance, and B-schools must impart an understanding of the right balance between economic activity and sustainable solutions.

The AIMA vision is for India to be the second best global hub for management education by 2025, which is a tall order. Even without this vision being in place, business schools have to change their models in the very short term. If they don’t, they run the risk of going the way of many a corporate giant and becoming obsolete. 

In sum, management education needs a revolution, and there is currently no sign of even a banner spelling out the path to one. We must hope that this will change, and change soon, because the world needs good business leaders more than ever before.
 

The author is the vice-president, Ashoka University