The Complete Human Resource Publication

Higher Education In India

Transforming Management Education in India

 

Dr Subhransu S Mohanty

India is bestowed with a rich demographic structure, and is the largest contributor to the global workforce with its working age population surpassing 950 million. We need to capitalise on it and bring them up with quality management education, so that their expertise will make them the preferred choice for global leadership positions.

Though the Management Education sector has grown exponentially in India, skill and excellence are still severely lacking. This is due to a plethora of overlapping regulatory agencies/framework in the past, which stifles growth and development of educational institutions and their ability to flourish in a competitive market environment. We are happy to have a government that has realised the above complexities and is trying its best to remove the bottlenecks.

The curriculum is still very much grounded in theory and does not encourage analytical thinking, emphasis on applications of management principles, applied research, innovation and entrepreneurship. Greater interaction between regulatory agencies, universities and management institutes is needed to incorporate useful feedback into modernising the curriculum and make them adaptive to the rapidly changing business environment. We have severe scarcity of quality faculty resources. Changes in the eligibility criteria and recognition of valuable industry experience can bring in the requisite industry perspective into management education, as management education is very much application oriented. We lack proper funding as the culture of public-private, academia-industry and inter-academia partnerships in higher education is just evolving. The need to enhance research funding, training opportunities for faculty and cross-country knowledge-exchange equitably should be actively considered by the government. The standardisation of high quality global management education curriculum coupled with their dissemination through Information and Communication Technology (ICT) such as Massive Open Online Courses (MOOC) could help us to reach out to a larger audience at affordable costs. All these are required to make management education more relevant to current needs, improve its quality and job-readiness and contribute to the development of the economy, living standards and larger societal benefits.

Keeping in view the current and future demand for management professionals and in line with the economic growth prospects of our country, management education has become a necessity rather than an option. The need of equipping our workforce for managerial roles is further heightened due to the ambitious plans of our government, particularly in transforming India into a knowledge economy, its emphasis on ‘Make in India’ ‘Digital India’ and ‘Skill India’ initiatives. Added to the above drives, we have a number of domestic companies which are continuously striving to increase their global footprints and there is an increasing interest from overseas businesses to expand their presence in India.

At SFIMAR, we have turned every challenge into an opportunity. We have adopted a ‘student-focus’ approach. Though we have adapted our Mumbai University/ AICTE-approved MMS, PGDM and part-time programmers in Business Management, we have introduced added curriculum, excellent pedagogy and various co-curricular and extra-curricular activities for the holistic development of our students. Within a relatively short span of 14 years, SFIMAR has built up an enviable track record. It has proven its mettle by obtaining Grade A accreditation from National Assessment and Accreditation Council of India (NAAC) in March 2016. It has won several accolades at National level such as ‘Best Upcoming B-School’ Award 2015 from ASSOCHAM, ‘Best Educational Quality Enhancement Team’ Award 2014 from National Centre for Quality Management. It has also earned recognition from the University of Mumbai’s Department of Lifelong Learning and Extension for being the best participating B-School in Extension and Community Development Projects. SFIMAR is proud to be a part of the St Francis Group of Institutions which is run by the Congregation of Franciscan Missionary Brothers having a 114-year old legacy of ‘Service through Enterprise.

We have leveraged the benefits of technology by building up an enviable storehouse of knowledge for our students through our ongoing investments in pedagogical resources, a well-developed library as well as in IT solutions that speed up our student services and help us implement useful feedback from all the stakeholders. Our students are aware of current issues and industry trends and have acquired advanced skills by participating in knowledge and skill enhancement programmes such as ‘Thought Leader’ and ‘Lead by Example’. Students develop their leadership skills, improve their concentration, creative thinking, innovation and the ability to lead and mentor others. These are conducted through various Clubs such as Nirmiti (Marketing), Finatics (Finance), Prerna (Entrepreneurship), Institute Social Responsibility (ISR), Green- Environment, Mindfulness Training and Personality Development programmes. Our well-qualified and experienced faculty is supported by competent and dedicated programme co-ordinators and staff, who ensure that programme delivery adheres to the Institute’s strict quality, security and business continuity standards.

We focus on applied research and vital topics such as corporate social responsibility and governance, financial inclusion, investment strategy and asset allocation with forward-looking indicators, digital marketing and so on. SFIMAR facilitates industry (management)-academia (student) interaction through its Eminent Speaker Series, Management Development Programmer, Regular Guest Lectures, Summer Xcellence and Prakalpa (projectcompetitions), Alumni Connect etc. We run a number of certification programmes for our students to make them job-ready.

We also promote interaction between academic institutions through our Visiting Faculty Programme and the Annual Research Conference ‘Pathh’ and ‘Anveshi’. We have recently set up an Entrepreneurship and Business Incubation Zone (SFIMARebiz) to encourage self-employment and empower entrepreneurs to chart successful business ventures, by providing training, networking and cost-efficient solutions for setting up their businesses.

We have a consistent track record of 100 percent placement. We have started Corporate On-boarding Programme very successfully in which recruiters invest valuable resources in familiarising our students with their organisational values, goals, roles, norms, and overall work environment. They also provide them job-specific training so that they have the necessary skills to get absorbed into their mainstream roles easily and become effective organisational members. This Corporate On-Boarding is a win-win programme for all, as it leads to positive outcomes for new employees, such as higher job satisfaction, better job performance, greater organisational commitment, reduction in occupational stress and intent to quit.

True to its Motto ‘Service Through Enterprise’, it’s our constant endeavour at SFIMAR to bring up our students holistically with high moral values, ethical standards and an inclination towards societal good. Concepts such as compassion and stewardship are ingrained among our students so that they can adopt ethical business practices and build sustainable businesses. The Franciscan values continue to be a guiding beacon leading SFIMAR to higher standards in teaching, research and community service.

 

Dr Subhransu S Mohanty
Director, St. Francis Institute of Management & Research

 

      

 

 

 


 


 

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