Positive Side :-
- Top B-schools are sending their students to big companies for internships to provide them practical knowledge.
- With increasing Internationalization, Indian B-Schools are improving a lot from the past few years.
- Indian B-Schools prepare students for the corporate world. They teach dressing etiquette, corporate etiquette, discussion skills, team work and much more in the course itself.
Challenges :-
- Most of the syllabus in Indian B-schools is relevant to the developed economies of the west rather than developing economies like India.
- Though some B-schools like IIMs, IITs are competing with the global standards. And all the remaining business schools are not really trying to improve their course standards.
- According to a study by the Associated Chambers of Commerce and Industry of India (Assocham), 2016, about 93% of India’s B-school graduates are not actually employable.
- Most of the business schools in India are facing the problems like lack of infrastructure, poor faculty, lack of research opportunities etc.
- The Indian Business schools select their students largely on the basis of marks. As long as a student has got excellent marks, he’s in. We need managers, not scholars.
- Except for roughly 2-3% B-schools, it has become business, with fees rising as high as 15 lakhs and the no. of students in a class being more than 200 in some colleges. Only some colleges have been providing proper attention to this problem.
- Indian MBA programs have become the placement factories.
- There is shortage of well-trained teachers at higher educational institutes. Even this is the case with the top institutes like IIT’s,IIM’s, etc.
- A dire shortage of PhD’s, delays in the recruitment and lack of incentives have been an important cause of the inability of the institutes to nurture the new talent.
- Problem lies not only in the higher education but from the primary education, where the low quality education results in the weak basics of the students.
- Indian B-Schools are placement oriented rather than education oriented.
- Admission to B-schools is not that hard because of the availability of management quota. This diluted value of B-schools.
- Over professionalization of business education is curtailing innovation.
Facts :-
- There are around 4500 business schools in India as of 2015. Some of them are even in the list of top 100 colleges of the world. But in the last two years, nearabout 200 business schools have been shut down and at least 120 more are on the same way.
Conclusion :-
Indian Business schools are trying to catch up the international standards. There have been drastic improvements from the past few years. But still a lot needs to be done. We should adopt best practices in the world, and at the same time there is a need to Indianise the business education.
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