Management education is a key area for a developing country: XIME chairman

Prof J Philip, founder and chairman of Xavier Institute of Management & Entrepreneurship (XIME), talks about the evolution of management education in India and the trends in the sector

Management education in India has transformed, adapting to the changing demands of the global business environment, says PROF J PHILIP, founder and chairman, Xavier Institute of Management & Entrepreneurship (XIME). In an interview with Ayushman Baruah and Aneeka Chatterjee in Bengaluru, he talks about the evolution of management education and the trends in the sector. Edited excerpts:

How has management education in India evolved? And what is the need of the hour?

India and Indian business have changed significantly in the past few years, with globalisation of businesses, and an increase in the number of companies. There is more exposure. We have also got aligned with the global situation. India now is like any other European country, and a part of the global scene. Accordingly, business education has changed, too. First, the global part of the curriculum has increased. Second, there is a greater focus on environment, with environmental management, climate, and the latest expression of the 3Ps in management education – people, profit, and the planet — becoming more prominent. Third, we are now pretty much a part of the global scene. Currently, we have about 3,500 business schools in the country, the most in the world. We have at least 200 business schools that can stand up to global standards.

There have been debates around an industry-academia gap. Where are we now?

There are many in the academia today who come from industry, halfway through or at the end of their career. At the age of 50-60, people retire from their industry, but in academia we can go up to the age of 70 or higher. Hence, the gap that existed earlier has narrowed now. In India, a good number of people have come from industry to academia.

How has artificial intelligence (AI) impacted or disrupted the field of management or management education?

I am not an expert in that area. But we have a course in this area which is handled by specialists. Every leading business school is now very actively pursuing the application of AI. If someone is not there, they are behind. We have a fairly good group of people in our AI area. Earlier we used to talk about two areas – quantitative and human resources. Now, in place of quantitative, information technology (IT) and AI are the areas that are galloping. In AI, the demand is skyrocketing and that will be the future.

How does XIME prepare its graduates to navigate the challenges and opportunities in the global business landscape?

Management education is a key area for a developing country. What happens in business schools is transformation. The first aspect of transformation is the agility to operate in various situations. A dynamic change takes place only through the participative process. When we transform a person, it is in terms of values. To transform, we need to think in terms of contribution, value, and wealth creation. Another aspect is situational sensitivity.

What are the biggest challenges India must address when it comes to higher education?

In a 2020 report by Kasturirangan, there is no chapter or section on management education, except at one place where it is said technical education covers management education. This is a tragedy. A lot of people simply do not know that this is a key area for a developing country. We need better managers or administrators who are creative and can envision the future. Flexibility and adaptability are distinctive strengths of a person.

What is your view on students who opt for entrepreneurship instead of a job?

This was not the case 50 years ago. But that has changed now. Entrepreneurship today is a respected field. We are the first institution with ‘entrepreneurship’ in its name. We saw the need in our business schools. On May 21, we are releasing a book on entrepreneurship to honour our graduates who have become entrepreneurs. Our theme is that we are entrepreneurs, not job seekers. One of the major changes we have seen now is that a large number of business graduates are turning into entrepreneurs. In the coming academic year, we plan to admit about 600 students across our Bengaluru, Kochi, and Chennai campuses.

What are XIME’s expansion plans?

Most business schools have a single unit. We are present in Bengaluru, Kochi, and Chennai. Currently, we are building a super school near Kottayam with the motto of contribution. We will be investing about Rs 20 crore in it, but we do not intend to generate revenue. Our value system is not to generate money but to be of value to society. We are also exploring opportunities to convert ourselves into a university.