Fine Tuning Management Education- the Need of the Hour

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Fine Tuning Management Education – The need of the hour
Abstract

Getting an education is an important part of success in today’s business world. It’s competitive out there, and the more educated you are, the better your chances of landing a good job are. That’s why getting a Masters of Business Administration (MBA) is so important. As of now there are over 2,400 B- Schools in India, Karnataka has around 67, of which 46 colleges in Bangalore offer MBA programs. The MBA degree opens up worlds of opportunity for its bearers. Many business positions require an MBA for advancement. It is a fact that having an MBA degree is like having the key to the gates of opportunities in the corporate world. Like a green signal for the new business world. Hi-tech development, improvements, and the growing privatization all have completely transformed the business grounds. Along with all this, the business plans and pedagogy are also constantly changing very fast. Besides, in every phase the competition is getting more and more difficult. As the business is changing and the level of competition is also increasing the companies are forced to hire employees having done their MBA from the most competitive college. An MBA Program will give and teach all the things that are essential to make you a good manager and skills that are important to augment the efficiency and productivity of the organization. No company would like to waste their time to train people with the required skills and knowledge when they know that such candidates are already available in the form of MBA graduates. Today all organizations expect that their employees are able to give more profit to the company in a shorter span of time. An MBA student is expected to have certain level of competency which makes them different from others. The course exposes the student to the practical field helping them to perform effectively in the long run. However, it is perceived that the management education is falling short of this objective. In order to keep the MBA relevant, the colleges offering them will have to make the curriculum more responsive to the global economy. The research paper focuses on the perception of MBA graduates and their expectations towards the management education. Keywords: Management curriculum, Higher education, Management activities. Introduction

The development of management education can be traced back to 18th century. From 18th century to 21st century, management education has seen lot of changes and development. Management education in India is predominately a derivative of western management thought and practice. Management education in India is not very old, after the establishment of the IITs, there was dire need for similar establishments in the field of management education. Thus came into existence Indian Institute of Management Ahmadabad (IIMA), followed soon after by one in Kolkata (IIMC). Starting with the establishment of 4 Indian Institutes of Management Calcutta (1961), Ahmadabad (1962), Bangalore (1973), Lucknow (1984), now management education is being offered as full time/part time MBA programmes by some leading universities in the country. Recently and particularly during the last 4-5 years the country has witnessed a tremendous growth in the founding of management institutions most of them in private sector offering management programs in different functional areas of management. Concurrently, there is a mushrooming of B-schools in the country (over 2,500 institutes, of which about 1940 are certified by the All India Council for Technical Education (AICTE)), leading to issues of quality. In Bangalore alone there are as many as 300 MBA colleges.

Management education introduces students to a broader perspective about the role of individuals in growth of business and society, which is quite evident. Management education provides students and working professionals with an edge that enables them to strengthen the Connection between...
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