Can India Emerge as Hub for Management Education?
It has always been a quest to seek best quality higher education. Out of numerous degrees, it is seen that MBA is the most sought after degree. However, primary concern is that of an environment that will be a hub of management education. The AACSB (USA) has claimed that there are 13,000 + management institutes for providing management education, which includes Indian institutes. According to AICTE number of management institutes in our country are 3,900 in figure.
Even though management education is large in number, there are serious challenges to it. Major reasons for this being research, industry linkages, quality, faculty, infrastructure and employability. All this calls for a solution that would enable in attracting students globally. This requires concerted efforts that need to come from Union Government, AICTE and other similar bodies. AIMS for instance is one such governing body that is apt in providing management education followed by EPSI and AIMA. Collective efforts or somewhat collaborative means will be required for bringing into existence a unified body that will formulate rules and policies to implement it. A pool of about 100 educational institutes can come together for the given purpose. It would include good faculty along with the much needed infrastructure.
Call for a catalyst
A governing body providing much needed management education can be a regulator of B-Schools. It should be equipped to provide trained professionals, latest knowledge, quality education and a positive mindset. It can build a network with global business that will be linked with Indian industries. It will be more like professional associations and industry bodies coming together to achieve common goal. A vision or a mission for Indian B- Schools that is based on a robust data harnessed from comprehensive survey of global education. Other things can be adopting latest technology and internationalization for a better B-School.