The premier B-Schools, today, are under a lot of pressure to develop strategies to ward off threat from the emerging crop of new-age B-schools. As management cynics say, 'business strategy, essentially, means preventing the next door neighbor from snatching a part of your lunch!' (That is `market share' for you). One way of developing new strategies is to conduct a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis. It is time for these B-schools to align management education with the business realities of the marketplace.
The MBA as a qualification has become very fashionable. There are opportunities galore for the new-age B-Schools to pick up the unmistakable signals and cash in on the opportunities. It is party time for B-Schools, as the booming economy has triggered a fresh demand for management education in the country. The top B-Schools in India-whether regional or metro-oriented, private or government run, recognized or not recognized-are a beehive of activity and all of them are rushing to spruce up their act as if there is no tomorrow.
If the theory that managers are nurtured in B-Schools has to be accepted, then B-Schools have to necessarily revamp their curriculum to make it market-related. Laxmi Mittal's address to the IIM directors is very illuminating. The global steel czar was crisp and clear. You are creating leaders of tomorrow. Look at the syllabus and the curriculum which teaches about yesterday. See what is needed for the day after tomorrow. Upgrade the skills to bring this element. The need is to create leaders for day after tomorrow.
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