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Are leaders cultivated or born? It has long been a point of discussion, and this question is not new. Although there will always be a variety of viewpoints, more business leaders are needed in our globe. For both employers and employees, the leadership gap has become a top worry.
In India, there are numerous MBA institutions available on every street, making it very challenging for students to distinguish between the top and best-ranked colleges. As a result, anyone can complete an MBA at any college by paying a significant cost.
The one major problem is that business schools are increasingly turning into employment agencies, and as a result, students are focusing more on finding jobs than on their studies. Because of this mentality, they occasionally struggle with concepts, which will get them nowhere in the real world.
The main reasons why Indian business schools don't rank among the best in the world are that they can't hire internationally recognized professors on a full-time basis and that they don't have complete control over every area of their operations.
Most prestigious universities, including IIMs, have a sizable number of overseas students on their campuses virtually the entire academic year thanks to a considerable increase in the international student exchange program.
Challenges faced by Indian B – schools
1. The majority of Indian business schools struggle with issues including inadequate infrastructure, subpar professors, a dearth of research opportunities, etc.
2. Despite the fact that IITs compete with the world's standards, certain B-schools, including IIMs, do not. Additionally, none of the other business schools are making any significant efforts to raise their course requirements.
3. Rather than developing economies like India, the majority of the curriculum in Indian B-schools is applicable to the developed economies of the west.
4. About 93% of Indian B-school graduates are not genuinely employable, according to 2016 research by the Associated Chambers of Commerce and Industry of India (Assocham).
5. Higher education institutions are lacking in qualified teachers. Even with prestigious universities like IITs, IIMs, etc., this is the situation.
6. A class size of more than 200 students is common in several universities, and fees have increased to as much as 15 lakhs, with the exception of about 2-3% of B-schools. Only a few colleges have given this issue due attention.
7. The selection of students by Indian business schools is mostly based on academic performance. A student is admitted as long as he received outstanding grades. Instead of researchers, we need managers.
8. Placement factories now exist in Indian MBA programs.
9. Indian B-Schools focus more on placements than on education.
10. The issue is not just with higher education, but also with primary school, where poor instruction leaves students with weak fundamentals.
Organizations are looking to B-schools for leadership development Even though businesses spend a lot of money and effort training their staff to be leaders, there are significant financial and time costs involved. As a result, businesses are looking to business schools for assistance in filling the leadership vacuum. Indian business schools have historically placed a strong emphasis on academic growth and a student-cantered environment.
The business world has recently been vocal about its dissatisfaction with B-schools' out-of-date curricula and their failure to generate job seekers who are both work- and future-ready. In order to develop tomorrow's leaders, many B-schools have updated their pedagogic practices and curricula after realizing how urgently they needed to fulfill industry requirements.
Here are 5 innovative approaches used by Indian business schools to foster leadership in its students:
1. Structured leadership programs
Numerous business schools provide students with structured programs, courses, or subjects on leadership. These are individualized, intense courses that help individuals identify their leadership strengths and shortcomings, comprehend various leadership philosophies, and give them challenges and opportunity to advance their skills. 2. Technology-driven pedagogy
Leadership is changing due to technology and digitization. To drive the company to greater heights and differentiate itself from the competition, future leaders will need to be digitally capable and ready. By providing programs like the MBA in IT Business Management, MBA in Data Science and Data Analytics, and MBA in Executive IT that combines traditional and technological disciplines, business schools are bridging this techno-functional leadership gap. 3. Experiential Education
By using case studies, firm internships, industry projects, simulated circumstances, team exercises, and simulation games that mimic real-life events, business schools are consciously working to help their students put theory into practice. As traits of leadership, students are required to think critically, make choices, come up with original solutions, work with others, and negotiate. They are forced out of their comfort zone, forced to navigate through unimportant factors, and given the opportunity to practice leadership. 4. Curriculum inclusion of entrepreneurship
Not all students desire a career in business. Many aspire to be business owners, a profession that also requires leadership skills. To inspire their students to think and behave like entrepreneurs, some business schools have established innovation laboratories, incubators, maker zones, or accelerator programs. They also hold competitions for "start-up pitches." Business schools now increasingly provide specialized courses or programs in fostering entrepreneurial leadership. 5. Cross-cultural student exchange initiatives and immersion projects
Some business schools provide cross-cultural student exchange programs or immersion projects that require students to work abroad for a portion of the academic year. This aids students in developing a perspective on company possibilities and hazards from a global leadership viewpoint. They also gain experience working with people from various backgrounds, understanding cultural differences, and learning about international business methods. Are Indian B – schools effective?
Although not all business schools are successful, most of them are making a lot of effort to provide students with useful information. Additionally, universities can make a 30% effort to provide students with the greatest education, but students must make the remaining 70% of the effort.
The best faculty and environment for students are offered by the IIMs, ISBs, and the majority of the remaining B-Schools. Although there is no guarantee that students will get jobs, they do need to learn the skills necessary to land those jobs. They also need to learn about the corporate world and how to operate within it; this is a more practical approach that will be very helpful for students looking to enter the workforce. To address those issues, students require several real-world case studies.
India's educational framework is inadequate. Although they provide students with very little, they hope to expose them to real-world situations. Because of this, students find it challenging to adapt and use their skills when they reach the corporate world because what they have learned differs from what people in the corporate world want them to do.
So, they are powerless over education as well. A B school's effectiveness, however, hinges on how it plans to deliver its curriculum and educate its students. In order to provide the students with better results, they need first to understand the needs of the market before designing the course accordingly. The B schools should make an effort to provide their students with as many high-quality and appropriate outputs as possible so that they may successfully execute them when they enter the corporate world.
Indian business schools are attempting to meet the norms set by other countries. Significant advancements have been made in the previous few years. But there is still much work to be done. The world's best practices should be adopted, but we also need to Indianize business education.
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