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Indian management education is comparable to
that of any progressive country. The sound
solid mathematical foundation given to
our students is appreciated by many intellectuals. This foundation has helped India to gain
a prominent position in the field of Information Technology (IT). This knowledge base has
given an edge in supplying the much-needed
technical and managerial manpower to the entire globe.
The Indian economy needs a lot of manpower for its sustenance and the surplus is migrating
to other countries in search of employment opportunities.
The subprime crisis and the consequent global meltdown require different type of
managerial manpower for which the Indian younger generation is to be trained. The moot
question, today, is "Are the business schools
producing quality management graduates who can
handle complex organizations, which employ a cross-cultural workforce, advanced
manufacturing systems, marketing goods and services in
several jurisdictions, and handle several foreign currencies simultaneously?"
Unfortunately, to be honest, not many B-Schools in India equip their students to handle
the challenges mentioned above. Some of the causes for this inadequacy in the Indian
management education sector.
The IIMs are at the top rung of management education. At the lower rung, there
are innumerable private management institutes, which are plagued by the above shortcomings.
In terms of value addition, they provide nothing except teaching some prescribed material
with substandard faculty. Knowledge generation, dissemination and research are negligible in
these institutions. Management subjects are taught
in classrooms without imparting any soft or hard skills. The soft skills
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