I-Dogra

27th International Congress of Administrative Sciences

Abu Dhabi, United Arab Emirates

9-14 July 2007

IASIA IAD WG I

Working Group I

Education and Training Programme: aligning missions and quality Effects of Globalization and the Role of B-Schools in India

Deepak Dogra

&

SK Kapoor

Effects of Globalization and the Role of B-Schools in India

Deepak Dogra & SK Kapoor

Abstract

This paper seeks to identify the impact of globalization on the various issues, and needless to say – on the management education system. Globalization has impacted the education in a varied manner all over the world, requiring us to revisit the system. The authors have deliberated upon the growth, their regulatory mechanism and the challenges of globalization being faced by the B-Schools. The strengths and weaknesses with particular reference to Indian B-schools have also been enumerated. Suggestions have been made in respect of their reorientation and role in tandem with globalization and to overcome the weaknesses by not only bringing the required changes in the curriculum but also in the methodology of furthering the learning process. The paper also encompasses the suggestions for the various stakeholders viz students, faculty, the managements of B-schools, the Government and the society at large for the common but most urgent cause of fine tuning the management education system so that it can deliver; and deliver fast.

Key Words: Globalization, Management Education, B-Schools, Accreditation Agency and Regulatory Mechanism

Introduction

Globalization has different meaning to different people. Some analysts prefer to use the more specific term ‘International economic Integration’, thereby focusing on the economic and financial aspects. On the other hand, globalization has reached into political, social and cultural dimensions. Modern Status needs to deal with all dimensions. Globalization involves complex iterative processes that internationalize domestic policy-making. The first wave of globalization towards integrating economics, which started over a century ago, was dominated by autocratic empires and colonial powers. It culminated just before the out break of the First World War in 1914.

The current globalization movement, aided by Governments of many developed and developing countries and led by the Private Sector Enterprises, reveals unprecedented levels of International trade and exchange. However the impact on human development and human security as distinct from economic growth has varied considerably depending upon how Government Institutions are structured, upon how they mobilize themselves and upon the nature of government policies developed in response to globalization.

Globalization in the area of world security system and enforcement of peace could also be seen

rights, transcend borders and demand supranational responses. Environmental concerns such as degradation of air, water and environment, also have assumed global connotation now. The ever expanding globalization process gives some idea of the spectrum of skills that need to be developed in the economy if we wish to fully exploit the potential that technology offers for economic development. The range, the topology of skills, matters but it also needs to be recognized that a critical minimum mass of skills would be needed for each typology before we can meaningfully harness the potential.

Furthermore, globalization is being used to promote certain values, behaviors and standards in a number of key areas including higher education. There is no reason to believe therefore, that education, particularly management education can remain un-affected by the sweeping breeze of globalization. B-Schools the world over, have fine tuned their curriculum and the ancillaries in tandem with the sinews of globalization.

The BRIC Report of Goldman Sachs that was published on 1st Oct. 2005 was a great vote of confidence in India. Some relevant excerpts:

“Over the next 50 years, Brazil, Russia, India and China – the BRICs economies – could become a much larger force in the world economy. Using the latest demographic projections and a model of capital accumulation and productivity growth, we map out GDP growth, income per capita and currency movements in the BRICs economies until 2050.

“The results are startling. If things go right, in less than 40 years, the BRICs economies together could be larger than the G6 in US dollar terms. By 2025 they could account for over half the size of the G6. Currently they are worth less than 15%. Of the current G6, only the US and Japan may be among the six largest economies in US dollar terms in 2050.

The BRICs economies taken together could be larger than the G6 by 2039”.

There was another interesting report that appeared in Economic Times recently. This is from a CIA study on ‘World Economic Powers’ :

“……India and China will emerge as the new economic stars of the 21st century, just as the USA and Germany did in the 19th century. India’s GNP will overtake that of Italy by 2014, France by 2020, Germany in 2023 and Japan by 2033”. (Economic Times, Jan. 25, 2005)

The authors have based this paper to study the effects of globalization on B-schools with particular reference to those operating in India and their preparedness to face the challenges as well as opportunities.

Management Education - Historical Perspective

After independence in 1947, India was fortunate to have visionaries who recognized the importance of a strong democratic socio-political structure and saw urgent need for many sided economic, social and political development. While “the temples of modern India” were being built, the Indian visionaries were preparing pathways of imparting management education also to synergies the development of the country.

Table I, below provides a comparison of S & T manpower with some developed and developing nations for every 1000 persons in the population.

Table I: S & T Manpower – An International Comparison

Country Scientists &

technicians ( per

1000 population)

R & D Scientist &

Technicians( per

1000 population)

Japan 110 7.1

Germany 86 4.0

Israel 76 5.9

USA 55 4.0

Korea 45.9 2.9

Brazil 29.5 0.2

China 8.1 0.6

India 3.5 0.3

Source: Management Education – Issues & Predilections’, Excel Books, New Delhi, 2005, p-10

There is a correlation between S & T manpower and managerial manpower in technology centric economies, similar gap exists in the intensity of management professionals in the population when measured against the potential requirement. We have to pay urgent attention to further expanding our institutional base for generating larger S&T and managerial manpower supply.

If we review the historical perspective, for planned growth, the Government set up an independent Planning Commission in March 1950 which could harness intellectual resources to develop national plans to achieve balanced growth. In the beginning part-time courses for practicing executives were started in Kolkata University in 1953, followed by the Universities of Delhi, Mumbai and Chennai. For training of senior executives Administrative Staff College was set up in Hyderabad, National Institute of Industrial Engineering in Mumbai, National Productivity Council in Delhi, Indian Institute of Public Administration in Delhi, All India Management Association and many other such organizations. The Govt. of India also setup Institute of Management, one in Calcutta (IIM-C) in collaboration with Massachusetts Institute of Technology (MIT) in 1961 and another at Ahmedabad (IIM-A) in collaboration with Harvard B-school in 1962. Both the IIMs started two years MBA levels programmes as also the short duration courses for practicing executives in the general management and functional areas.

In the 60s many universities were also set up for the full time post-graduate level programmes. Some of the universities had visiting faculty from abroad for varying periods and executives from industry who opted for an educational career. Many faculty members also went abroad for training or doctoral work.

Growth of B-Schools

Over the last decade, the management education system in the county has grown enormously. We can boast of many world class institutions the system has built large capacities both in management education as also in information technology.

Therefore, when the world is going to become borderless, the field of Management education in India will have to be opened up to global participants under the GATS. Although, India has yet to sign the GATS agreement in totality, there are already 131 foreign institutional tie-ups in India. A recent article says:

“Since the last few years, there has been a spurt in the demand for courses or programmes offered by Indian institutions working in collaboration with foreign universities. More than 130 institutions in the country are collaborating with foreign institutions and offering foreign degrees.

Table II: Indian States/UT having Less than 25 approved B-Schools

State/UT No. of Approved B-

Schools Population in Million

Assam 6 26.63

Bihar 12 82.87

Chhatisgarh 4 20.79

Haryana 23 21.08

Jammu & Kashmir 3 10.07

Jharkhand 6 26.91

Kerala 6 31.84

Manipur 1 2.39

Orissa 27 36.71

Punjab 25 24.29

Uttaranchal 13 8.48

West Bengal 22 80.22

Note: In addition states having shaded area have premier Management Institutes like IIMs

Table III gives the details of the states having between 26-50 approved B-schools. These 5 states have a combined population of 243.3 million approx. and have a total of 179 such schools.

Table III: Indian States/UT having 26-50 approved B-Schools

State/UT No. of Approved B-

Schools Population in Million

Delhi 34 13.78

Gujarat 38 50.60

Madhya Pradesh 47 60.39

Rajasthan 30 56.47

Tamil Nadu 30 62.11

Note: In addition states having shaded area have premier Management Institutes like IIMs

Table IV provides with the details of the states having over 50 B-schools. These 4 states have a total population of 391.3 million approx. and have a total of 556 such schools.

Table IV: Indian States/UT having more than 75 approved B-Schools

State/UT No. of Approved B-

Schools Population in Million

Andhra Pradesh 219 75.72

Karnataka 94 52.73

Maharashtra 128 96.75

Uttar Pradesh 115 166.05

Note: In addition states having shaded area have premier Management Institutes like IIMs

However, there are 14 States/Union Territories (UT) which do not have any approved B-school. These States/UT have a total population of 20.1 million approx. Table V gives details of such States/UTs.

Table V: Indian States/UT having no approved B-Schools

State/UT Population in Million

Andaman & Nicobar 0.35

Arunachal Pradesh 1.10

Chandigargh 0.90

Dadra & Nagar Haveli 0.22

Daman & Diu 0.16

Goa 1.34

Himachal Pradesh 6.08

Lakshadweep 0.06

Meghalaya 2.31

Mizoram 0.90

Nagaland 1.99

Pondicherry 0.97

Sikkim 0.54

Tripura 3.19

About 250,000 Indian graduates write MBA tests every year. But almost 3/4th of them do not get admission because of the paucity of seats. About 250,000 engineers come out of the engineering schools, of which half of them seek management schools admissions. All put together, about 3 million graduates come out of our Universities every year. Of these 3 million, at least 70% are unemployable. Therefore, it is only natural that they will look for a programme or career line which will assure them better chances of employment. To many fresh graduates management education offers this hope.

Considering the yearly industrial growth of about 8 to 10 percent, we would need every year over 100,000 of managerial personnel. IT & ITES industry alone now employs a million professionals, out of which at least 75,000 or thereabouts should be of managerial variety. If IT and ITES were to grow at the rate of 30% a year, that itself would need about 22,500 potential managers. Add to this, international opportunities beckoning our managerial professionals which include fresh MBAs.

Today the challenge before the business schools as also before their regulators (AICTE), however, is to maintain a delicate balance between the enormity of the task and the constant up-gradation of quality of learning, with innovations and research.

Imparting of management education in India as seen in the table VI can be categorized broadly from the point of various kinds of institutions engaged in this activity:

-Private Universities: Over the last five years many private universities have also come up with management education and B-Schools in these private universities contribute 1.13 percent of the management graduate output in the country.

-Corporate B-Schools: Some of the corporate supported B-Schools in India are of the international standard and these contribute to 0.42 percent of the management graduate output.

It is difficult to estimate overall market size in management education services. The General Agreement on Trade in Services (GATS) defines four ways called ‘Modes’ in which services can be traded as reflected in table below.

Table VII: Mode of Supply and Market for Management Education

Mode of Supply (As per

GATS)

Management Education Market as envisaged

Service crosses the Border Does not require the physical move of the customer Distance education, e-

learning, virtual

universities

Currently a small

market, seem to have

large potential through

the use of Internet

Involves move of customer to country of supplier Students going to other

countries to study

Currently very small

share but figure is

increasing at fast rate.

Service provider establishes presence in another country Country branch, Off-

Campuses, Satellite

campuses, franchises

Growing interest and

strong potential

Persons traveling to another country on temporary basis for providing services Professors, teachers,

researchers working

abroad

Strong market

potential given to

emphasis on mobility

of professionals

In this context market size in India is complicated by plethora of Institutes of higher learning that are emerging almost every day. Though there is widely available support for opening private universities, a Government bill for the same is yet to be placed in any legislative body for discussion.

All educational institutions whether in the Public or Private domain in India are not envisioned to be profit but service oriented and thus making valuable contribution to the society. Therefore, commercialization of management education would lead to different value systems in the market place.

In a country like India, Internet access and globalization have great potential for the management institutions. Instead of being swamped over by foreign competition, efficient native institutes having quality standards, will fight hard in the market place and retain their positions. Please see figure 2 for the anticipated clusters due to the process of globalization.

Table VIII: Regulatory Mechanism of B-Schools in India Who Regulates All India Council for Technical Education (AICTE)

Course Coverage Prescribed–outline-classroom hours, etc.

Quality of the programme Prescribed no. of teachers, qualifications, examination, grading, etc.

Standards laid down for course work, faculty, physical and support systems-non-compliance invites punitive action.

Compliance Compulsory by law.

Inspection team sent by AICTE reports on adherence to pre-

determined standards. Failure to keep to them invites

disqualification.

Standards laid down by “expert bodies” would ensure coverage

and quality of the programme.

The concern for systematic growth of education and its standards by Government and AICTE has been evident in the appointment of at least four committees during the last five years for total review and recommendations by people engaged in and concerned with education.

-Dayal Committee was appointed in January 2000 by the Ministry of Human Resource Development, Government of India to develop Future Perspectives of Management Education.

-Ramaswamy P. Aiyar Committee was appointed in January 2003 by AICTE to Review Management Education. The Committee consisted of heads of highly respected and well recognized management institutions, All India Management Association (AIMA), consulting organization and AICTE.

-U. R. Rao Committee was appointed by Ministry of HRD, Government of India in 2002 to study the work of AICTE. The report was submitted to Government of India in September 2003.

-S. L. Rao Committee was appointed by All India Management Association and submitted their report in 2005.

There are many other committee reports available on specific issues such as accreditation, admission tests, common admission tests, and approach towards programmes of less than two-year duration. There have been many seminars and workshops to discuss the various reports arranged by professional bodies and teaching institutions.

Challenges for B-Schools

As the world moves into the new century and the new millennium, a country like India with continental dimensions has to reckon with changes that are occurring in the rest of the world. The new millennium is being looked forward to with great hopes and expectations and also with some trepidation. How will this new millennium be different? What are the challenges and opportunities for which we should be prepared? It is difficult to forecast what the future is going to be.

greater integration of the economies. The process of globalization will gather further momentum. Speed in communications, will accelerate flow of goods and services along with finance. And third, the wave of rising expectations will surge even further. All countries will become aware of the changes happening all over the world and the developing economies will naturally demand that their aspirations are met. Not only different countries but also different segments within a country will demand that their rights are fully respected.

What we now see around us is really and truly a war of B-schools. The business and trade magazines have also taken upon themselves the task of ranking and rating these schools, which further fuels the said war. The competition has intensified, resulting into constant up-gradation of the quality. But, in the present system management education does not develop social concern, social accountability and broader outlook in the management students. The process of developing into a modern nation with new social, political and economics institutions and with emphasis on science and technology, has thrown up many challenges in front of Management institutions.

Management Education should feed in necessary inputs to the students not only in making them competent and successful managers but also managers with high moral values and ethics. There is a pressing need to examine the challenges and prepare the young students to face and resolve them. We need to have a holistic view of the quality of teaching and build a broader concept of management toward prosperity of the nations.

Therefore to develop high performance in Management Education, the Management fraternity should critically analyze their crucial role in developing successful managers of tomorrow which objective essentially requires a strategic approach.

The main objectives of management education is to impart, in the students, various concepts, skills and techniques of management to enable them to shoulder the challenges with their business acumen, aided by their analytical skills, emotional intelligence and perspicacious and refined decision making. It also must make them sensitive to their social responsibilities.

Let us analyze the Strengths and Weaknesses of present day management education system. Strengths

?Intellectually well equipped senior faculty in Management Institutes in the country is one of our biggest assets, be it university departments or private institutes. With a great deal of experience on their side, the faulty nurtures the budding management talent to a desirable level.

?Positions of honour held by management students in multinational companies speak of the global competitiveness and talents of Indian B-Schools.

?The diverse cultural background of our country enable the students to pool in their creative ideas and come up with better solutions and also inculcate in them a sense of teamwork, flexibility and development of good interpersonal skills which are one of the most sought after attributes in managers.

?The All India Council for Technical Education (AICTE) makes sure that management institutions review and document their strengths and weakness, thus functioning as a motivational factor before exposing the institutions to the outside world. The regular inspections trigger new practices and innovative strategies, provoke the institutions to search for new academic programmes and research activities. The regular AICTE inspections also keep a check and ensure infrastructure improvement in these institutions.

Weaknesses

?The students of today have a ‘gold digger’ attitude. Management courses are pursued with an objective of landing highly paid jobs. Adequate coverage to value based learning is not persued. Knowledge is imparted with an aim of creating business managers. Subjects like Ethos and Values are not emphasized much. Not all institutes are offering it as a compulsory paper and the ones which do offer such course have not been able to develop much seriousness towards them. Students prefer studying subject which could increase their chances of better placement.

?There has been a lot of criticism regarding failure of B-schools to enhance student’s soft skills-chiefly the Emotional quotient (EQ). Reliance only on development of analytical skills is not what the future would demand; there is going to be an increased demand for initiative takers.

Development of emotional attributes like emotional intelligence, ability to work in a team and developing interpersonal rapport and personality factors such as ability to deal with ambiguity, tolerance and flexibility is by and large missing in the present management education system.

?Management Education is following the path of providing bookish knowledge. There is lack of practical training and field work is not encouraged, nor is the industry visits very often.

?There has been insufficient encouragement for developing case studies. It has been observed that mostly outdated foreign case studies are discussed. Different institutes and university departments have failed to motivate their faculty to develop cases for their students as well as for other purposes.

?Management Education in our country still depends a lot on doing things the old, traditional way. An example could be that of Management Information System (MIS) as a subject.

MIS is taught, but only theoretical emphasis is given to the subject.

? A general tendency of showing resistance to change has been observed, be it in the course curriculum, learning material including text books or the teaching methodology, though some are trying to keep pace with the latest practices.

?Emphasis on academic-industry interaction is still not sufficient. B-Schools still relies maximally in inviting academicians rather than people from the corporate sector for guest lectures.

A couple of month’s on-the-job training is not sufficient for a management student to develop the

right kind of orientation. It is helpful, but not sufficient.

?At present, only a small proportion of institutions of technical education are engaged in research. Teaching is seen as the primary role – often the only role of the institutions. Research is viewed largely as an additional activity to be undertaken only if time permitted, if teachers are personally inclined.

While the strengths need constant up-gradation and swerving in the ever changing requirement, the weaknesses have to be ironed out emotively and diligently. A focused approach is required in order to enhance the performance in the filed of Management Education. The above stated strengths and weaknesses give us an idea of the present status of Management Education in our country and also raise an alarm.

Reorientation of B-Schools

If we want to be globally competitive in the long run, our orientation has to change. The importance of the external environment has to be realized adequately. B-Schools should think about the following steps that can be taken into consideration.

Attributes of Emotions

There is an urgent need to develop Emotional Attributes like emotional intelligence, ability to work in a team, develop a better understanding of human behaviour, develop interpersonal rapport, etc. Similarly, personality factors such as the ability to deal with ambiguity, tolerance, coping with politics in organizations, adaptability, all need to be developed. Management Institutions are laying emphasis on improvement in quality of teaching but along with this, development of soft skills should also be equally emphasized.

Reorientations of Objectives

Students pursuing Management as a profession join B-schools with the prime objective of getting a good job after the completion of their course. Students should be made to understand that opting for papers from the specialization areas is not the end. Teacher should make it clear to them that they should think of their long-term interests and learn things that help them in having a well rounded personality. The ‘gold digger’ attitude should be discouraged. They should be made to understand their social responsibilities as well.

Thrust on Extra-Curricula Activities

Educational institutions nurture the budding students to the best possible extent. Therefore, Management Institutions should provide fertile soil and favorable climate for one’s talent to find its fullest manifestation, an environment where leadership is developed. Academics and extracurricular activities should go side by side, for only then can expeditions into the unknown be initiated and encouraged. This can equip the students with the right credentials.

Amenability to Change the Curriculum

Sticking to old curriculum and showing resistance to change is an oft-observed weakness of our management education. Change in curriculum as per the International standards is the need of the hour, for in the open economies they need to have a global perspective. Globalization of perspectives in management education is required so that the freshers are ready to face challenges anywhere in the world.

Channels of Communication

Students should be equipped with the sound knowledge of latest communication channels. On line submission of assignments and LCD presentations should be encouraged. Video Conferencing should also be encouraged. This shall provide students with exposure to industry big wigs, professors from other institutes elsewhere in the globe etc. The communication channels used by the students should be such that they give them the same exposure as laboratories provide to the science graduates.

Regular Faculty

There is a problem of availability of permanent faculty specifically in the private institutes. It is suggest that these institutes should encourage building their own clan by promoting their brilliant students in their own institutes. Private Institutes generally depend on retired professors for guest lectures or for running their institutes which is hardly a permanent arrangement. To make their faculty strong academically, the teachers should be motivated to attend FDPs, do research work, develop case studies and attend seminars/workshops.

Interaction with Industry

Academic industry linkage programmes/workshops not only impart a holistic view to students but also improve their placement opportunities. Articulate senior executives from the corporate world should be invited for delivering guest lectures. This practice is comparatively negligible in the university departments. These interactions are the best way to groom the students for the recruitment to the corporates of their choice.

Credence to Ethics

It is undoubtedly most important to develop high performance in management education. Managers take decisions in the organizations but as already mentioned these organizations are a sub system of the society. Decisions taken by them effect not only the business firms but the society also at large. If we do not check the present system which emphasizes on developing analytical skills and good business acumen amongst the students while failing to impart skills loaded with values, the state of affairs would be chaotic in future.

Concern for Social Responsibility

Last but the least, management education should not only be directed towards producing the successful managers, it should produce managers with a keen sense of social concern who will serve the calls of their organization as well as that of the society.

In order to implement the steps envisaged to overcome the inherent weaknesses of our B-schools as also to be sensitive to the changed recruitment process of the corporates, on account of the changed environments, some fresh initiatives should be taken by the B-schools managements. Following are some of the additional measures that can be considered.

?Apart from the conscious efforts on the part of the faculty to develop the overall personality of the B-school students as future managers with ethical and social values, with wider canvas to paint dream on; a review of curriculum also deserves equal attention. Multiple skill attributes, capability to participate in inter-functional and inter-business task forces, job allocation and rotation will also be some of the expectations from the potential managers.

?Subjects like business process outsourcing, knowledge management, technology management, management of change, business communication and others must find prime place in the curriculum. Outsourcing is the subject students need to know about if they wish to compete globally in the feature.

?Thousands of white collar jobs are moving out of US and other developed world countries

Research. It’s not something one can ignore. India, being an English speaking country, will certainly continue to be leader in this sector and have the opportunity of continuing to expand. An important issue for the next generation of the managers. In US, almost all leading B-schools have introduced this area as part of curriculum and large no. of students opt for it. The leading schools are Kelley School of Business of Indiana University, Tuck School of Business at Dartmouth, Cornell, Stanford, Bentley College, MIT’s Sloan School of Management and many more. Wharton and several other top schools including the University of Chicago Graduate School of Business and Stern School of Business at New York University address outsourcing under international economics. It is well predicted that student’s enthusiasm for outsourcing would grow as the global market expands and many B-schools would start courses in the subject. It is not something that is going to be talked about for only one or two years.

?Overseas students exchange and industrial training is facilitated for MBA students at almost all B-schools in the US, Europe and even in some good Asian schools including IIMs in India. To study the real scenario about outsourcing, some 21 odd students from Kelley Schools of Business, Indiana University are traveling around India. Some good Asian schools like AIM at Manila, School of Management, AIT Bangkok, three Indian Institutes of Management have long-term tie-ups with reputed B-schools in US and Europe for student exchange. To cope with the growing competition, these exchange progammes seem to be the need of the hour.

?High emphasis on research both by faculty and students is the need of the time. Research is virtually non-existent in most of the management schools today. As already stated research gets the back seat in the B-Schools and therefore, new horizons are not opened-up before the students.

?This is an era of multinational corporations. Corporates all over the world are expanding horizontally crossing the man made barriers of political boundaries of the nations. Indian corporates also are spreading their wings in other parts of the world. Mergers, Acquisitions, Takeovers and Spin-offs have become household phenomenon. These global expansions of the corporates have enigmatic sequel in managing the workforce belonging to diverse social, cultural, ethical and behavioural attributes. Even the high end executives in such MNCs also are subservient to their such respective attributes. Understanding the diversity and coping with that has become a very important stream of learning process.

?Management is a multidisciplinary area where people from different streams work together. The faculty in many B-schools comes from diverse areas like economics, psychology, mathematics, commerce, and of course management. They often have high qualifications in their own fields. Most of them have PhDs. These people join management schools and start teaching their subjects without establishing any relationship with management - the application of these sciences to problem solving. They need to be converted into management teachers.

Other important areas expected to grow in the near future and which need B-School attention includes Management of services, retailing management and management of infrastructures Services (Banking, Healthcare, Insurance, Telecommunication, Transport, Tours and travel), hospitality (Hotels, Restaurants, Sports, Amusement parks) and Retailing (Department stores, Specialty Stores etc.) are bound to grow at a faster pace. Private sector companies, both domestic and MNCs who entered the market, need professionals to manage the show.

E m

p h a s i s o n

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E m p h a s i s o n R e s e a r c h b y

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in C urrent S cenario

P r o f e s s i o n a l O u t l o o k a n d R e g u l a r I n t e r f a c e w i t h

I n d u s t r y

Fig. 3: Important Issues before the B-Schools

Having discussed various dimensions of the future of management education in the country, some of the key issues that need to be discussed by Indian stakeholders are briefly discussed as follows:

- Role of the Ministry of Human Resource Development (HRD) - Government should have a role in regulating and delivery of management education either alone or in partnership with private education.

- Rationale/Purpose of Globalization - Economic and social development is essential agenda for India. Purpose of management education must be for upgrading knowledge and skills.

- Benefits of Globalization - Should provide access to qualitative and quantitative education that is not available in the country. To develop more efficient work force to improve competitive position of the country in the globalized economy.

- Public Private Mix - Private education needs to supplement Public education system and not to displace it.

Conclusion

Globalization is sweeping across the countries. Interdependence between the nations has treaded the hitherto unknown paths such as cooperation in technology, fighting the illicit trade, enforcement of peace and security, guarding the environment against pollution etc. Management education is no exception. In fact it is of paramount importance that management education system remains alive to the demands generated by the wave of globalization and to explore the new vistas.

As already discussed, the gap between the demand and supply of management practitioners is resulting into mushrooming of B-schools. There is a perceived threat to the quality of education and abdication to concern for values and ethics. There is need to bridge this gap and simultaneously to imbibe in the students, the high moral standards. The B-schools students should not consider this stream as a sure shot gold digging formula. Apart from being successful managers, the students should remain conscious of their duties towards the society as well, so that the benefits of globalization percolate down to the common man.

Many B-schools today are tied-up with a lot of weaknesses such as lack of valued based education, lack of tools for enhancement of soft skills in students, theoretical expressions, lack of exposure to modern technology, resistance to change, shortage of permanent faculty and their shying away from the modern pedagogy and the case teaching. The weaknesses can be surmounted by determined efforts towards changing the students orientation from short terms gains to long term and macro gains by developing their personality attributes, extra curricular activities, juxtaposition of the curriculum, academic-industry interaction and students exchange programme etc.

Globalization has thrown up numerous other fields of specialization such as business process outsourcing, knowledge management, technology management, business communication, service industry, viz banking, insurance, health care, hospitality, telecom solutions, tour & travel, hotel, restaurants, sports and amusement parks, retailing (departmental store chains, specialty stores, pharmaceutical etc.). And the B-schools should equip themselves in catering to this requirement urgently.

The B-schools should endeavor to constantly up-grade the quality of their otherwise highly qualified faculty also, by exposing them to EDPs, inter institutional visits, research, case & paper writing etc.

Lastly the government should play its role in regulating the delivery of management education of world standard keeping in view their social responsibilities. The Government should encourage private participation in dispensing management education.

References

-AICTE Act, All India Council for Technical Education, 2007, http://www.aicte.ernet.in/AICTEAct.htm

-Bennis, W. G. and O’Toole, J., ‘How Business Schools Lost Their Way’, Harvard Business Review, May 2005.

-Chandra Ashoka, ‘Challenges in Management Education’, Management Education – Issues & Predilections, Ed. Deepak Dogra, Excell Books, India 2005, pp 7-8.

-Dayal, I, ‘Constraints of Legislation on Organisational Effectiveness’, Indian Journal of Industrial Relations. New Delhi, 1967. Vol. 2, No.3, pp 315-332.

-Dayal, I., ‘Reappearing Management Education’, Perspectives for Future, Mittal Publications, New Delhi, 1998.

-Dayal I., ‘What Business Organization Can Expect from Graduates in Management Schools’, Management Education – Issues & Predilections, Ed. Deepak Dogra, Excell Books, India 2005, pp 3-4.

-Dayal I., ‘Management Education: The Present Status and Some Societal Concerns’, Unpublished Paper, 2007.

-Dogra, Deepak, ‘Management Education – Issues & Predilections’, Excel Books, New Delhi, 2005.

-Dogra Deepak, ‘Developing Management Education in India’, Ishwar Dayal on Management Volume IV, Ane Books 2006 pp 3-7.

-Dogra Deepak & D N Varma, ‘A Perspective on GATS and Higher Education in India’, Management Education – Issues & Predilections, Ed. Deepak Dogra, Excell Books, India 2005, pp 45-46.

-Excerpts from meeting of the State Education Secretaries dealing with technical Education held on 10th March 2003, Shastri Bhawan, New Delhi https://www.wendangku.net/doc/c13231562.html,cation.nic.in.

-Excerpts from Interview with Prof. R. Natarajan Chairperson AICTE, https://www.wendangku.net/doc/c13231562.html,.

-Ghoshal, S., ‘Bad Management Theories are Destroying Good Management Practices’, Academy of Management Learning & Education, Vol. 4, No. 1, pp 75-91.

-National Board of Accreditation (NBA), All India Council for Technical Education, 2007. http://www.nba-aicte.ernet.in/about.html.

-Oberoi N. K., ‘Training of Management Faculty’, https://www.wendangku.net/doc/c13231562.html,.

-Prem Lal Joshi, ‘India's Top-Ranking B-Schools Are at a Crossroads’, https://www.wendangku.net/doc/c13231562.html, https://www.wendangku.net/doc/c13231562.html,/Asia/2346.cfm.

-Philip J., ‘Indian Business Schools in a Competitive Environment’, Management Education – Issues & Predilections, Ed. Deepak Dogra, Excell Books, India 2005, p-63.

-Philip, J. and Shankar Narayan, D. (Ed.) Management Education in India, IIM, Bangalore, India, 1989.

-Porter, L. W. & Mckibbin, L. E., ‘Management Education and Development: Drift or Thrust into the 21st Century’, McGraw Hill, New York, 1988.

-Rangarajan, C, ‘Management and Challenges of Globalization’, Management Education – Issues & Predilections, Ed. Deepak Dogra, Excell Books, India 2005, p-28.

-Reserve Bank of India (RBI), 2007

https://www.wendangku.net/doc/c13231562.html,.in/scripts/HalfYearlyPublications.aspx?head=Report%20on%20Foreign%20Exc

- Report of the working group on Technical Education, http://shikshanic.nic.in.

- Siddiqui, M, ‘Corporate Soul’, The Monk within the Manager, Response Books, New Delhi, 2005.

- Sinha, D. P., Management Education in India Perspectives and Challenges, The ICFAI University Press, Hyderabad, 2004.

- Sinha, J. B. P., ‘The Salient Indian Values and Their Socio-ecological Roots’, Indian Journal of Social Sciences , Vol. 3, 1990, pp 477-88.

- Sridhar V, ‘Technical Education & One Worries’, Frontline , Hindu (16) Dec 1999.

- United Nations: ‘Group of Experts on the United Nations Programme in Public Administration and Finance’, Fifteenth Session, 8-12 May 2000. ST/SG/AC.6/2000/L.5.

- https://www.wendangku.net/doc/c13231562.html,, 2007. https://www.wendangku.net/doc/c13231562.html,/question/index?qid=1006042440357.

Authors

Prof. Deepak Dogra is a management professional, having blend of industry and academia with experience in transforming businesses through application of mature business practices. He draws experience in multinational and Indian companies pursuing the tenets of continuous improvement and leadership skills including: Knowledge Management, Organizational Development, Strategic Management, Cross-cultural Management and Evangelism. He has authored eight books and published many papers. His web homepage is https://www.wendangku.net/doc/c13231562.html, and he can be reached at drdogra@https://www.wendangku.net/doc/c13231562.html,.

Prof. Kapoor has worked for more than 38 years in the Banking Sector. He was visiting faculty for International Banking Business at the staff colleges of Nationalized Banks, Northern India Bankers Training College and Delhi School of Economics Delhi University, IIFT, Reserve Bank of India etc. Presently he is Professor of Finance at FIIB Delhi. He can be reached at skkapoor@https://www.wendangku.net/doc/c13231562.html,.