AI w w w . b w e d u c a t i o n . c o m Rs 300 MARCH-APRIL 2024 DISRUPTIVE TECHNOLOGIES & GENERATIVE fifffflffifflflfffl fflffiflfffflfffl fflflfflffi ffiffl fflffi fifffflffiflfflff fflffiffffiffff fflflffl ffflffl ffiflflflflffl ffffiffl fl fl fflffffffl ffl ffl ff ffl fflffflff ffff ff ffflfflffiffffiffl fflfl ffl fl flfflflffiffi fflffiff fflffi flflfflflffi ff flffffifflfflffi
WůŽƚŶŽ͘ϰ͕'ƌĞĞŶ/ŶĚƵƐƚƌŝĂůWĂƌŬ͕d^//͕ :ĂĚĐŚĞƌůĂ͕ŝƐƚ͘dĞůĂŶŐĂŶĂͲϱϬϵϯϬϭ 92470 23501 / 85432 50062 Scan the QR Code nmimshyderabad.org Admissions Open REGISTER NOW B.A., LL.B.;,ŽŶƐ͘Ϳ ͲϱLJƌƐ͘ B.B.A., LL.B. ;,ŽŶƐ͘Ϳ ͲϱLJƌƐ͘ LAW B Tech ;ŽŵƉƵƚĞƌ ffiŶŐŝŶĞĞƌŝŶŐͿͲϰLJƌƐ͘ B Tech ŽŵƉƵƚĞƌ ^ĐŝĞŶĐĞΘffiŶŐŝŶĞĞƌŝŶŐ ;ĂƚĂ^ĐŝĞŶĐĞͿͲϰLJƌƐ͘ ENGINEERING B.Pharm ;ϰLJƌƐ͘Ϳ B.Pharm + MBA (Pharma Tech) ;ϱLJƌƐ͘/ŶƚĞŐƌĂƚĞĚ WƌŽŐƌĂŵͿ PHARMACY BBA* B.Com.Ύ COMMERCE Jadcherla ϭϮͲϭϯͲϵϱ͕^ƚƌĞĞƚEŽ͘ϯ͕dĂƌŶĂŬĂ͕ ^ĞĐƵŶĚĞƌĂďĂĚͲϱϬϬϬϭϳ͘ 9247023500 /040‑27004842 / 27015556 Tarnaka Undergraduate Programs a�er 12 th At Jadcherla Campus At Tarnaka Campus WƌŽĚƵĐƟŽŶƌĞĂĚLJƉŚĂƌŵĂĐĞƵƟĐĂůůĂďŽƌĂƚŽƌŝĞƐ ĨŽƌWŚĂƌŵĂĐLJƐƚƵĚĞŶƚƐĂƚ:ĂĚĐŚĞƌůĂĐĂŵƉƵƐ dĞĐŚŶŽůŽŐLJĞŶĂďůĞĚůĞĂƌŶŝŶŐĞŶǀŝƌŽŶŵĞŶƚ >ŝǀĞƉƌŽũĞĐƚƐĂŶĚŝŶƚĞƌŶƐŚŝƉŽƉƉŽƌƚƵŶŝƟĞƐ WůĂĐĞŵĞŶƚƐĨŽƌƵŶĚĞƌŐƌĂĚƵĂƚĞƐƚƵĚĞŶƚƐ Ύ&Žƌ^ĐŚŽŽůŽĨŽŵŵĞƌĐĞ͗/ŶƚƌŽĚƵĐŝŶŐĂϰLJƌƐĚƵƌĂƟŽŶĚĞŐƌĞĞƉƌŽŐƌĂŵ;h'ͿĨƌŽŵƚŚĞĂĐĂĚĞŵŝĐLJĞĂƌ ϮϬϮϰͲϮϱǁŝƚŚĂĨŽĐƵƐŽŶƌĞƐĞĂƌĐŚͬŵƵůƟĚŝƐĐŝƉůŝŶĂƌLJĨŽĐƵƐŝŶƚŚĞϰƚŚLJĞĂƌ INDIA’S TOP PRIVATE UNIVERSITY
INDIA’S LEADING B-SCHOOLS INSIGHTS FROM: w w w . b w e d u c a t i o n . c o m Rs 300 MARCH=APRIL 2024 How first-generation IIMs continue to stay relevant, integrating technology, and how new-generation institutes are imbibing modern pedagogy and catching up DEBASHIS CHATTERJEE Director, IIM Kozhikode RISHIKESHA T KRISHNAN Director, IIM Bangalore VINITA S SAHAY Director, IIM Bodh Gaya VISHAL TALWAR Director, IMT Ghaziabad ARVIND SAHAY Director, MDI Gurgaon
4 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM “B-schools do not run according to the QSQT (quarter se quarter tak) syndrome of industry. We are an education institution and do not always get led by industry; we lead industry through our knowledge and systems. I am not beholden to industry; I am beholden to the currency of my thinking and the industry will follow us,” Debashis Chatterjee, Director, IIM Kozhikode had this to say when asked by BW Education about changing expectations of the industry from B-schools. This was a brave statement to make when the world of work is undergoing tremendous transformations thanks to new disruptive technologies, especially generative AI and the demands it places on individuals in all domains. ANNURAG BATRA [email protected] B-schools & Changing Social Realities EDITOR-IN-CHIEF’S NOTE As Mohanbir Sawhney, Associate Dean, Digital Innovation, Kellogg School of Management, Northwestern University, said at an event organised by IMT Ghaziabad, “Generative AI has taken over 80 per cent of functions. It’s the 20 per cent where human role is required that is critical. In the world of work today, an individual who doesn’t use AI is at a great disadvantage as against those who do.” Speaking to BW Education on the occasion, he said, “He was categorical that the world of work and career avenues will be dramatically transformed. “There will be job displacements. There will be net reduction in the number of people needed. But the people who will be there will be doing interesting work. In terms of careers, low level cognitive work like para legal, low-level coding, secretarial work will be badly affected. So’ we have to challenge ourselves to get to the next level of value addition in that chain and do more creative and strategic work.” How are B-schools, and other higher education institutes aligning themselves to changing realities forms the crux of this issue. Reflecting on these changing realities and transformations that are needed, Bharat Bhasker, Director, IIM Ahmedabad, said, ““Our curriculum must focus on integrating diverse aspects and take a cross-disciplinary approach that offers a wider view of the industry. Furthermore, management courses must integrate global and cultural sensitivities too with an understanding of international markets, supply chain dynamics, managing cross-cultural teams and possible ways to navigate national and global policies.” The deans and directors interviewed in this issue also talked about the increased emphasis on environment, sustainability and governance (ESG) and what they are doing to sensitise students to these critical aspects of modern societies.
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8 B W EDUCATION MARCH - APRIL 2024 WWW.B WEDUCATION.COM CONTENTS MARCH-APRIL 2024 16 20-48 50 B-school Education In The Era Of AI Directors of leading B-schools on how they continue to stay relevant as the world changes, and how their institutes are reinventing themselves and recalibrating curriculum to meet the demands of industry Perspectives of Directors & Deans B-school rankings-2023 AI w w w . b w e d u c a t i o n . c o m w w w . b w e d u c a t i o n . c o m Rs 300 MARCH-APRIL 2024 DISRUPTIVE TECHNOLOGIES & GENERATIVE fifffflffifflflfffl fflffiflfffflfffl fflflfflffi ffiffl fflffi fifffflffiflfflff fflffiffffiffff fflflffl ffflffl ffiflflflflffl ffffiffl fl fl fflffffffl ffl ffl ff ffl fflffflff ffff ff ffflfflffiffffiffl fflfl ffl fl flfflflffiffi fflffiff fflffi flflfflflffi ff flffffifflfflffi India’s Leading Management Education Institutes
WWW.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 9 REGULARS 10 NEWS UPDATES LAST WORD 88 96 108 104 110 116 122 Total no. of pages including covers 124 Covers design by Shivaji Sengupta BW Education B-school Summit & Awards 2023 B-school fraternity discusses changing industry expectations, learning gaps and need for regular changes in curriculum; BW Education awards eminent directors, academics and institutes for their pathbreaking work The 7th Higher Education Summit The event, organised by ICFAI Group and BW Education, had as its theme ‘A New Millenium: Inspiring and Unlocking Knowledge Potential’ INTERVIEWS Siddhartha Ghosh Director, NMIMS Hyderabad BS Patil, Director Dayananda Sagar Business School Vishal Khurma CEO, Woxsen University, Hyderabad Christopher Stevens Headmaster, Bradfield College, UK 106 Y Lakshman Kumar Director, Vishwa Vishwani Institute of Systems and Management 102 V Venkata Ramana Vice Chairman, Telangana State Council of Higher Education Mohanbir Sawhney Associate Dean, Digital Innovation, Kellogg School of Management, Northwestern University
10 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM NEWS Higher Education Institutions (HEIs) in India will no longer be awarded grades under the accreditation system, rather they will be categorised either as 'accredited' or 'not accredited', the National Assessment and Accreditation Council (NAAC) has announced. I n a n e xe c u t i ve council meeting held on January 27, 2024, NAAC also decided that the accredited institutions will be further given levels between one and five to motivate them to reach to the highest level. These reformations will be put into effect in two stages - the binary accreditation (accredited or not accredited) system in the coming four months and Maturity-based Graded Accreditation (level 1 to 5) by December. The accreditation authority will use the Maturity-Based Graded Accreditation (Level 1 to 5) to inspire accredited institutions to raise their standard to attain the highest level of 5 that is 'Institutions of Global Excellence for Multi-Disciplinary Research and Education'. The level-grading system will push Indian institutions to majorly enhance their quality and position themselves among the global best. As per the current system, an important result of the assessment is the final grading of the institutions. Post assessment, the Cumulative Grade Point Average (CGPA) of an institution is calculated for those institutions which clear the grade qualifiers. . As regards the reason behind this change, Anil Sahasrabudhe, Chairperson, NAAC, answering a question by BW Education at the EduNext Summit of BW Education, organised on January 31, said, “There are two elements to it. The first aspect is, despite a lot of thrust on acHigher Education Institutions No Longer Graded: NAAC The accreditation authority will use the MaturityBased Graded Accreditation to inspire accredited institutions to raise their standard to attain the highest level of 5 creditation, not more than 25-30 per cent institutes come forward for institutional accreditation. And as far as programme accreditation of National Board of Accreditation for engineering, management and others is concerned, not even 10 per cent programmes are accredited. We want that all the institutes should follow a minimum quality benchmark. When the gradation was there, there was stigma attached to low grades. Whereas we want all the institutes to come forward.” He pointed to the practice of institutes providing data “which was not truthful”, engaging consultants and other practices to get the desired grades. Those measures will not be required when you will be accredited or not accredited, he said. Talking about the other aspect, he said, “Quality and excellence does not come so easy. Institutes that aspire to do better should challenge themselves, and globally compete to become level 5.” The new system of levels 1 to 5, he clarified, will not be equivalent to grades. It will not be easy to get to level 5. Only institutes like IISc Bangalore, IIMs or IITs could get to level 5, he said.
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 11 NEWS 25% Of Rural Teenagers Struggle To Read Grade II Texts Fluently The Delhi High Court Rules In Students' Favour T he Annual Status of Education Report (ASER) 2023, published by Pratham Foundation on 17 January 2024, reveals that nearly 43 per cent of children in rural India cannot read sentences in English and 25 per cent struggle to read a Class II level text in their respective regional languages. Female students (76 per cent) do better than males (70.9 per cent) in reading grade II level text in their regional language, while male students do better than their female counterparts in arithmetic and reading English text. A large proportion of youth do not have basic reading and numeracy skills. The ASER 2023 report, titled ‘Beyond Basics’, surveyed 34,745 youth enrolled in both government and private institutes in 28 districts across 26 states. Overall 86.8 per cent among 14-18 year olds are enrolled in either school or college while the enrollment percentage goes down with age. T he Delhi High Court has ruled that a student is entitled to full marks if an examiner does not give marks against an answer but assigns a tick mark against it. Justice C Hari Shankar ruled that the student should not suffer due to the examiner's error. The court heard a plea filed by a class XII student who was not given marks for an answer in Geography exam. The CBSE argued that the student was not entitled to full marks as no marks were given for the answer. The court stated that once an answer is marked as correct, the CBSE cannot appeal against the decision. The student's plea was allowed. For instance, the proportion of youth who are presently not enrolled in school or college increases with age from 3.9 per cent of 14-year-olds to 10.9 per cent of 16-year-olds and 32.6 per cent of 18-year-olds, the report underlined. While nearly 85 per cent of the surveyed youth can measure length using a scale when the starting point is 0 cm, the proportion drops to 39 per cent when the starting point is moved
12 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM Queen's University is offering a 2024 Summer School to international students, allowing them to explore the historical, cultural, political, environmental and socio-economic aspects of Northern Ireland. The programme includes academic lectures, workshops and visits to cultural and historical sites in Belfast and Derry-Londonderry and aims to reveal various community perspectives in Northern Ireland. Participants can customise their summer school experience by choosing from programmes like Storytelling, Irish Studies, Identity and Intergroup Relations in Divided Societies & Leadership. Queen's University Opens Summer School For Int'l Students NEWS UMass Global Floats Online MBA T he University of Massachusetts Global has launched an online MBA programme in India to meet the growing demand for professionals with a global mindset. The 18-month programme aims to bridge the market gap by providing alumni status, benefits similar to in-person programs, and a globally applicable curriculum. The 18-month programme focuses on developing cognitive abilities essential for navigating regulatory, ethical and social environments, fostering agile thinking across business and technological domains and strengthening decision-making and critical thinking. The curriculum also helps senior professionals advance their managerial abilities, opening doors to effective leadership. The course, that will start on February 19, 2024, costs Rs 3,32,000 + GST. Successful completion of the programme grants alumni status and benefits from UMass Global.
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 13 Andhra Pradesh Tops National Education Accessibility IBM, Gujarat Govt To Elevate Technical Education Coaching Centres Can't Enrol Students Below 16 NEWS Andhra Pradesh has become a leading education powerhouse, surpassing Kerala in National Education accessibility with a score of 38.50, according to Minister of Education. The state's visionary leadership and effective governance, led by Chief Minister have transformed the country's education system within five years, outperforming Kerala by 36.55 in the Foundational Literacy and Numeracy report by the Economic Advisory Council to the Prime Minister. I BM has partnered with the Gujarat's Commissionerate of Technical Education to enhance technical and professional education. The partnership aims to equip learners with essential skills in emerging technologies like AI, cybersecurity, hybrid cloud and workplace skills. The initiative will use IBM SkillsBuild, a pro-bono education programme, to address knowledge gaps in emerging technologies and soft skills. The collaboration aligns with the vision of Viksit Bharat@2047, positioning Gujarat for global excellence. IBM also unveiled a new Consulting Client Innovation Centre in Gandhinagar. T he Ministry of Education of Government of India has laid down new guidelines for the operation of coaching centres in the country. The regulatory measures titled ‘Guidelines for Regulation of Coaching Centre 2024’ are available at the official website of the Ministry of Education in India – education.gov.in . The new guidelines aims to establish standards for regulating coaching centres to improve student supervision and assistance for study programmes, competitive exams and academics, the official statement states. As per the standards, a 'coaching centre' is any facility run by an individual that offers coaching for study programmes, competitive tests or academic assistance to students at the school, college or university level, with a capacity of more than 50 students. The criteria incorporate rules that govern fees, study hours, penalties and minimum area requirements for such facilities. Coaching centres must get registered with the local competent authority, adhering to specified forms, fees and document requirements as instructed by the government. It is significant to note that if a coaching centre has multiple branches, each branch will be treated as a separate entity, requiring separate registration applications for each one of them. Photo credit: ibm.com
DHANENDRA KUMAR Chairperson, Competition Advisory Services (India) LLP DR ANNURAG BATRA Chairman & Editor-in-Chief BW Businessworld and Founder, exchange4media SHUKLA WASSAN Independent Director, GE C. V. RAGHU Former Group General Counsel, Samvardhana Motherson Group HEMANT KUMAR Group General Counsel, L&T MANJAREE CHOWDHARY Senior Executive Director & GC, Maruti Suzuki India PANKAJ VASANI Group CFO, Cube Highways InvIT & Board Member, Cube Highways PULIN KUMAR Ex- Sr. Legal Director, Adidas India DR. SUBIR BIKAS MITRA Ex- Legal Advisor, GAIL #BWLegalGC100 APRIL 2024 NOMINATE NOW 4TH EDITION TOP 100 GENERAL COUNSEL GENERAL COUNSEL Presented by In association with For Partnerships & Speaker Opportunities: Sajjad Mohammad: +91 99118 55935, [email protected] For Nomination Inquiries: Baani Chauhan: +91 84476 77166, [email protected] Deepshikha: +91 77376 56804, [email protected]
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16 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM B-SCHOOL SPECIAL By Abhishek Sharma B-SCHOOLS, GET SET FOR INDUSTRY 5.0
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 17 B-schools have been stirred by the intrusion of AI and lurking spectre of Industry 5.0 that makes new demands on placement requirements. In the face of these disruptions, how are B-schools reinventing themselves? Over the years, India has become one of the leaders in the field of management education. According to the Graduate Management Admissions Council, India has the second-largest pool of management graduates in the world. This phenomenon, no doubt, has been achieved through the sheer explosion of the number of B-schools around the country. Not all of the mushrooming business schools conform to the same standards of quality, however. The reputation of the legacy institutions, the Indian Institutes of Management (IIMs) has remained unimpaired and they continue to churn out quality human resources who make their presence felt in almost all walks of life. These institutes have now been shaken and stirred as they prepare to keep abreast of industry expectations, particularly industry 5.0 – which loosely refers to a production model that depends on the interaction of humans and machines. Changing expectations Talking of industry 5.0 and changing industry expectations, Debashis Chatterjee, Director, IIM Kozhikode tells BW Education that “B-schools do not run according to the QSQT (quarter se quarter tak) syndrome of the industry. We are an educational institution and do not always get led by industry; we lead industry through our knowledge and systems. I am not beholden to industry; I am beholden to the currency of my thinking and the industry will follow us.” Chatterjee adds that 5.0 is not going to be radically different. It will be a point of technology taking over routine work. The rest of what technology cannot take up becomes a province of business, management and leadership. What artificial intelligence (AI) cannot do is intuitive thinking, connecting the dots, recognising patterns from data, he points out. Industry 5.0, incidentally, emphasises the convergence of human skills with management and technology, making the ability to handle complex human interactions and collaboration even more crucial, especially in the post-pandemic and hybrid work-culture era Rishikesha Krishnan, Director, IIM Bangalore is of the opinion that industry expects students to be conversant with digital technology and the digital and business interface, since all businesses are done on digital platforms now. And because of digitisation, companies are generating a lot of data. “This data enables companies to do business in a very different way. So, today’s B-School graduates need to know what questions to ask, how to derive conclusions from data to make new products and serve the existing ones,” Krishnan points out. Tech savvy B-schools India has seen a significant boom in the digital ecosystem in recent times, especially during Covid-19 when educational institutions were forced to go online to conduct classes. For the B-schools, technology is not new as it has been a crucial part of their curriculum, be it in learning how to take major decisions on investments and markets or to utilise Tableau to understand data. The increasing use of artificial intelligence (AI) and GenAI has had a multifaceted influence and has significantly shaped how management education is delivered and experienced. With advanced e-learning platforms and tools increasingly offering unprecedented flexibility and accessibility, students can now access lectures, study materials and interactive resources from virtually anywhere, enabling more personalised and self-paced learning. “AI has significantly changed our mental models and we have to be analytically sharp. This is the oldschool system,” says the Director of IIM Kozhikode. “Things that AI can do; it should be allowed to do. There is no reason why the recruiter who is doing the preliminary check on students should come down to the campus. A lot of recruitment has gone online. All the fringe aspects of corporate life are taken care of and technology has made it very transparent that B-SCHOOL SPECIAL
18 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM you don’t have to waste time and energy on these,” Chatterjee goes on to say. Artificial intelligence and data analytics have, moreover, become integral components of management education, enabling students to analyse and leverage data for informed decision-making. This aligns with the growing demand for data-driven skills in the corporate world. For example, B-schools like IIM Indore have also included electives on cyber security, cryptos, etc. to keep the students updated and also include simulations in the curriculum to help students enhance their skills. Research &development It is very crucial for business schools in India to establish themselves as leaders in management research. The IIMs have put up comprehensive research strategies which comprise a range of policies, incentives and funding. At IIM Udaipur, the management allows standard teaching hours to be 90 so that the rest of the time can be allocated for research. The information available on their official website reads, “Seed money grants of USD 7,000 per project are available to the faculty. A faculty member can have three active seed projects as the principal investigator. An annual development allowance of USD 5,000 is provided to each faculty member for attendance at national and international conferences and other research-related travel.” Swanand Deodhar, Chairperson, IIM Ahmedabad says, “At IIMA research is recognised as the foremost academic practice. Our research capability is firmly rooted in the diversity of intellectual interests of the faculty, wherein members undertake research on cutting-edge interdisciplinary topics. Further, consistent with our motto, research at IIMA also informs and takes forward management practice. Our faculty makes a conscious effort to undertake practically relevant knowledge-creation pursuits.” The road forward is undoubtedly exciting. As technologies become central to human actions, novel and unprecedented opportunities will become apparent. “As the R&P office, we are committed to supporting such intellectual ventures,” reiterates Deodhar. B-SCHOOL SPECIAL Leading in ESG As the world faces threats from climate change, the importance of communicating these concerns to all stakeholders is extremely necessary. Observers in academic circles say that moving beyond environmental, social and governance (ESG) is the need of the hour. So how do the business schools aim to play a role in this endeavour? For starters, management institutes can boost students’ overall leadership capability. An attempt to inculcate sensitivity to climate change is being made at IIM Bangalore through institute-wide sustainability initiatives like reducing the carbon footprint, better water usage and increasing use of solar power. The institute has produced its first carbon footprint report this year. Students have their own initiatives like clubs, where they hone their social sensitivity. Krishnan believes that leadership is developed not in the classrooms alone, but through practice, on platforms like clubs and projects. At IIM Kozhikode, the management ideates on and discusses climate future, among other topics. The institute is setting up a climate lab to compare multiple districts of India. What technology can do is a micro picture of
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 19 B-SCHOOL SPECIAL districts and “What we have to do is make decisions and policies based on that. In B-schools too, there has been a shift from a nano-stakeholder view of reality to a larger ecological view,” asserts Chatterjee. Since these institutions have a pivotal role to play in providing solutions and leadership in these areas, the IIMs are expected to lead by example by integrating sustainable practices into their own operations and curriculum. This involves promoting eco-friendly business strategies, fostering resource efficiency, reducing waste and adopting green technologies. Distance courses: A big dilemma The IIMs do not offer distance learning programmes. They offer mostly short-term career enhancement programmes provided in distance learning mode. Interestingly, Management Development Institute (MDI) Gurgaon is offering online certificate programmes in the two categories of ‘Long Duration Certificate Programmes’ and ‘Short Duration Certificate Programmes’ in different functional areas of executive education. Such online programmes facilitate working professionals to pursue executive education without compromising their professional and business engagements. Hence experts believe that India needs courses that give people a chance to gain a broad understanding of business. Bhimaraya Metri, Director, IIM Nagpur, Chairman, All India Board of Management Studies, AICTE and Chairman, WG-Distance Education Bureau, UGC, informs that universities scoring high in NAAC are permitted to run distance learning courses. Even though the flagship on-campus MBA/ PGDM programmes continue to grow strong, distance and online programmes run by B-schools are also becoming popular. This is especially true of executive education, as working professionals want anywhere, anytime learning. He insists that even in the case of certificate programmes like those on cyber security, students come for campus modules to be familiar with the campus and interact with peers. Therefore, hybrid rather than online is the future, he opines. In this issue, we bring to you views of directors and deans of leading B-schools and management programmes of universities. Full interviews profiles can be read on www.bwbusinessworld.in.
20 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM I IM Ahmedabad Director Bharat Bhasker attributes the success and uniqueness of the Indian Institute of Management (IIM) Ahmedabad to its unwavering commitment to the motto 'Vidya Viniyogad Vikas', which means development through the application of knowledge. At IIMA, change is a constant as the drive to innovate and find new energy and ways constantly gives the institution an edge over its peers. The management reviews activities periodically and closely works with experts and HR managers from the industry to gather insights to further enrich its offerings to meet modern-day requirements. Its worldclass faculty, unique pedagogy and focus on catering to the needs of the industry and society are the key factors that set IIMA apart, even after more than six decades since its inception. Bhasker says, “Our faculty members ensure that our pedagogy is grounded, in sync with the changing industrial landscape and, therefore, practical. Through their research and industry engagements, they identify real-world challenges and bring this knowledge into the classroom to create opportunities for our students to imbibe practical and responsible decision-making skills.” With the investment in the growth of its students at every step (as it claims), IIMA wants to call itself a modern-day Gurukul where it nurtures and develops responsible leaders who are well-prepped to handle challenges, are entrepreneurial in their approach and are adept at taking responsible decisions during crisis. Tech to teaching India’s B-schools are functioning in an industry that is constantly in flux. In the past few years, India has witnessed the stunning rise of the digital economy such as artificial intelligence (AI), virtual reality (VR), machine learning (ML) and app-based services changing the landscape of business models. While technology has played a major role in business disruption since the 1990s, operations to innovations have also been altered fundamentally in the process. Disruptions have occurred in the past and they are only intensifying by the day. Now, experts believe that management education institutes shoulder the responsibility of developing leaders who can keep businesses agile, are innovative and are capable of leveraging emerging technologies in such a scenario and helping their organisations stay competitive and relevant. Talking of solutions, Bhasker adds, “We as educators must stand firm on the belief that knowledge is the bedrock of all progress and development and for all the disruptions that we will come across in the future, we must know how to apply the knowledge we have gained to harness these disruptions.” As modern operations are complex and managers require an understanding of these complexities, the industry needs leaders who understand the extent to which newer technologies can impact businesses and can foresee or even create disruptions that can keep their businesses profitable. He asserts, “Our curriculum must focus on integrating diverse aspects and take a cross-disciplinary approach that offers a wider view of the industry. Furthermore, management courses must integrate global and cultural sensitivities too with an understanding of international markets, supply chain dynamics, managing cross-cultural teams and possible ways to navigate national and global policies.” Currently, for Bhasker, internationalisation is one of the top priorities for IIMA. He says, “These are exciting times.” As experts claim that India is at the cusp of major economic growth even in the middle of a major geopolitical crisis, several foreign universities are already setting up their campuses in the country, which paves the way for collaborations that can enrich practices and help Indian education institutes synchronise their curricula with the B-SCHOOL SPECIAL From adopting the latest technologies, fighting global competition and promoting India’s ethos and values, IIM Ahmedabad is transforming and reinventing itself with changing times while staying true to its core principles, as Director Bharat Bhasker describes By Abhishek Sharma What makes IIMA Modern-day Gurukul
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 21 “We as educators must stand firm on the belief that knowledge is the bedrock of all progress and development and for all the disruptions that we will come across in the future, we must know how to apply the knowledge we have gained to harness these disruptions” global business environment and bring their offerings at par with global standards. So how does India’s premier B-school match pace with technology-led transformations? Well, to do that, IIMA is infusing the technology into the organisation to extend its reach. “Also, there will be a renewed focus on ensuring that our curriculum and programmes are in sync with the global business environment, the Director informs. Changing expectations In its selection process, IIMA looks for meritorious students from diverse backgrounds. Notably, the institute has seen the number of women students growing at a gradual but steady pace in the past few years. This is also applicable to the academic diversity and socio-economic backgrounds that students come from. Bhasker comments, “We strongly believe in making education available to encourage deserving and meritorious students. To ensure we have the best of talent coming to the Institute, we have a range of scholarships to offer. These are merit-cum-means scholarships awarded to deserving students.” Carrying forward this mission, IIMA has announced 30 new scholarships for the incoming Class of 2023-25. The scholarships have been contributed by the IIMA alumni through the IIMA Endowment Fund. In addition to these scholarships, it has several others in the form of awards for academic and all-round excellence and performance in specific subjects, which are either awarded by the Institute, alumni, individual or organisational donors. Read Bharat Bhasker’s interview on www.bweducation.in
22 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM I IM Bangalore celebrated its golden jubilee in October 2023. The institute has become among the most coveted campuses for management education. In the recent QS rankings for 2024, its PGP programme secured the 31th rank globally, and its one-year Executive Post Graduate Programme was ranked at 48th position. Describing the factors that have taken it to this stellar position in management education, Director Rishikesha T Krishnan describes the multiple dimensions behind its success. The first factor behind the success is attracting the right faculty, he says. “You need to provide a conducive environment, that encourages them to pursue their ideas.” Good students is yet another prerequisite, “because a good faculty would like to be challenged in the classroom”. Besides that, curriculum updation, modern infrastructure, factors that are all interlinked, have been focus areas at IIM Bangalore. “The curriculum that you are teaching needs to be challenging, and at the same time contemporary. A few years ago, we did a major curriculum review in which CEOs, recruiters and other academics were also invited to identify the gaps. Out of this, three major pillars emerged – digital, data and sustainability. While these were already part of the curriculum, we ensured that the industry expectations are met to the fullest.” Further shedding light on the pillars of success, he says, “Today, all businesses are done on digital platforms. The industry expects students to be conversant in digital technology and the interface with digital and business. And because of digitisation, companies are generating a lot of data. This data enables companies to do business in a very different way. So, today’s B-school graduate needs to know what questions to ask, how to derive conclusions from data to make new products and serve the existing ones.” ESG is the other pillar for the institute. Krishnan says, “Even though the legislation may not have changed, there is a huge pressure on companies to be more sustainable. What we are doing across curriculum is to strengthen the preparedness for all the three aspects of ESG, and we are strengthening our core course in business, government and society,” Other factors like right infrastructure to do research, opportunities to attend conferences and international exchanges are other key elements, Krishnan informs. Research avenues Research & Development is an important parameter of excellence today, B-SCHOOL SPECIAL Rishikesha T Krishnan, Director, IIM Bangalore, shares how the institute is grooming its students for corporate and industry roles, incorporating ESG as a major plank By Meha Mathur “Good Managerial Talent Needed for $5 Trillion Economy”
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 23 “The biggest challenge is to be abreast of all the changes – be it technological, social or geopolitical – and to continuously upgrade ourselves. The students too will have to keep their skills and knowledge current” The institute provides funding, industry interaction, and other facilities for these projects. Producing leaders Moving beyond ESG as a need, in the wake of multiple crises the world is facing, can B-schools actually provide leadership role and produce leaders to manage these challenges? Krishnan responds that B-schools can improve students’ overall leadership capability. IIMB is doing this on multiple fronts, like institute-wide sustainability initiatives like reducing carbon footprint, better water usage, increasing solar power. The institute came up with its first carbon footprint report this year. And students have their own initiatives like clubs, where they hone their social sensitivity. Krishnan believes that leadership is developed not just in the classrooms but through practice, on platforms like clubs and projects. Opportunities and challenges Management education, as Krishnan says, has a bright future. “The goals of the country – be it to become a $5 trillion economy or the Amrit kaal – require significant economic growth in the country. This economic growth will come from agriculture, industry and services. And this will not happen unless we have good managerial talent. Unlike other parts of the world where there is plateauing of growth and therefore limitation to employment opportunities, in India, we will see a steady demand for management graduates for years to come. Of course, they need to be adaptable to the growing requirements of the industry,” he says. As regards challenges, Krishnan says, “The biggest challenge is to be abreast of all the changes – be it technological, social or geopolitical – and to continuously upgrade ourselves. The students too will have to keep their skills and knowledge current because what we learn today will not be adequate a few years down the line. They will have to be life-long learners.” and determines the outcomes in rankings too. And IIMB fosters research in multiple ways. “We have centres of excellence where faculty members can work on larger projects with other faculty and research students. For example, there is a Centre for Supply Chain Management where work on green supply chain and digital supply chain is going on. Similarly, IIMB has a Centre for Corporate Governance and Sustainability, which has been working for two decades on conceptual as well as practical issues of governance related to the companies. The faculty could also do research as part of informal groupings. Krishnan informs that a group of faculty interested in healthcare are doing research in that domain, and yet another group of faculty are doing research in digital technology, and collaborating informally to drive their research.
24 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM IIMK has a standing in the top-rung B-schools. What has gone into making the institute a success that it is today? The reason why we have succeeded is that we are not standing, we are running. We are ranked third in NIRF, 77th in the world for our open learning programmes and 72nd for our postgraduate programme. It’s a continuous progression from where we were. We have achieved this through one operative phrase – pursuit of excellence in whatever we do. IIMK has always set the benchmark for other management programmes in the country – in terms of gender diversity and diversity of management programmes. In 2013 we had 54 per cent women in our flagship programme. It was a defining time for other B-schools. It used to be 8 to 10 per cent before we brought in that number of women. IIMK should not be remembered for being a ranked business school, it should be remembered as a pioneering business school. We are talking of industry 5.0 now. What are the changing industry expectations, and how are B-schools meeting those expectations? B-schools do not run according to the QSQT (quarter se quarter tak) syndrome of industry. We are an education institution and do not always get led by industry; we lead industry through our knowledge and systems. I am not beholden to industry; I am beholden to the currency of my thinking and the industry will follow us. Rather than asking what has changed, you can ask me what has not changed and what is not going to change. And what is not going to change is the pursuit of learning, acquiring the ability to see that the frames of the past are not going to get you there. The problem is not the change. The problem is that we want to address change with the thinking of the past. How is technology impacting management education? AI has significantly changed our mental models that we have to be analytically sharp. Things that AI can do, it should be allowed to do. There is no reason why the recruiter who is doing the preliminary check on students should come down to the campus. Technology has made it very transparent that you don’t have to waste time and energy on these functions. Technology will take over routine work but if you look at the non-routine, complex work, that’s where the province of the human is. “WE SHOULD BE REMEMBERED AS A PIONEERING B-SCHOOL” B-SCHOOL SPECIAL Debashis Chatterjee, Director, IIM Kozhikode, explains why the institute is in the top league of B-schools in India today, and the diversity that it fosters By Meha Mathur
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 25 “NO DISCIPLINE IS A STANDALONE” B-SCHOOL SPECIAL Arvind Sahay, Director, Management Development Institute Gurgaon, on the implementation of NEP and changing face of management education By Arjun Yadav You have recently assumed charge as the director of MDI Gurgaon. Share your vision for the institution as its director. Any vision for an institution is a combination of many different things. Right now, I am in the mode of getting a sense of what different stakeholders think about the desired path for the institute. Once I have a sense of the same and what are the possibilities in terms of human and financial resources, I would be able to articulate a vision for the institute. What are your views on the National Education Policy (NEP). How do you see it changing the face of management education? I think the single biggest thing that the NEP has got right is an implicit, if not an explicit, recognition that any education, including management education, is not a standalone thing. There is an influence of many other disciplines, which significantly influence your own actions and outcomes in your own discipline, whether it is management or physics. There’s the issue of scale to be addressed. Quality education and scale are somewhat antagonistic. What are the strengths of our management institutions and what is it that we can imbibe from management programmes of other countries? In terms of intellectual horsepower, we are comparable. And in physical infrastructure, we are almost there. I think if there is a difference, it is in the level of research and industry engagement, which is relatively more prevalent in some places in the West. What can be imbibed from institutes in the West is a more serious research culture without losing our focus on teaching. How are the aspirations of Gen Z reflected on the management campus? We are all human beings. We are all subject to the same neurotransmitters. The amount of these neurotransmitters that we look for changes with age and the relative mix changes. What that neurotransmitter is triggered by, also changes. What triggers their neurotransmitters is a function of the culture that they have grown up in. And much of the inputs that they get is online. On the campus, one needs to be able to engage with them in a more calibrated fashion, that allows us to help them understand themselves. How do you envision the levels of industry engagement? Industry engagement is at multiple levels. It can happen through faculty research projects, it can happen through consulting engagements, both by faculty and by students, through cultural events and internships. And yes, it happens through the recruitment process.
26 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM Not only is IMT Ghaziabad one of the top B-schools in the country, it is ranked in some of the top global B-School rankings. What factors contribute to an institution’s success? Our debut ranking within the Global Top 100 in the Financial Times (FT) Master’s in Management ranking is a function of our constant focus on the student. I am happy to state that within this ranking, we were actually #20 globally for alumni career progression and #3 in India. FT also acknowledged us for the gender parity that IMT Ghaziabad has with respect to faculty. Recently, we also made it to the prestigious QS World Business Master’s rankings. Our Master’s in Management was in the 151+ band, our Master’s in Marketing was in the 101+ band and in the Master’s in Finance ranking, we were placed in the 151+ band. Such outcomes don’t happen in a day and I am grateful to the faculty, students, alumni and all other stakeholders who have contributed to the learning and outcomes driven culture at IMT Ghaziabad. What are the expectations placed on higher education institutions and their graduates, including B-schools? What kind of larger leadership can they provide when the world is grappling with geo-political and environmental crises? The right blend of technical and domain understanding, clarity of thought, depth of learning and constant self-reinvention are the attributes that we need to cultivate among our students. A lot of transformation is required in how we teach, and how students learn. By learning how to operate in ambiguity and making critical decisions, individuals can become more effective in their roles and contribute to the rapidly evolving ecosystem. What is the kind of community engagement that B-schools foster? Community engagement is an important aspect of business education. IMT Ghaziabad has a Centre for Sports Research which works with children in the villages in the region to foster learning through sports. Our belief is that sports can be a great equaliser and enables socio-economic mobility. The Centre recently tied up with the All India Football Federation to enable research based innovation and grass root development of football across India. “A BLEND OF TECHNICALITY, DEPTH AND HOLISTIC ORIENTATION REQUIRED” B-SCHOOL SPECIAL Vishal Talwar, Director, IMT Ghaziabad, describes the institute's standing in global rankings, and how it fosters a spirit of community engagement among students By Meha Mathur & Barkha Rawat
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 27 “SHAPING STUDENTS INTO THOUGHTFUL LEADERS” B-SCHOOL SPECIAL Varun Nagaraj, Dean, SP Jain Institute of Management & Research, Mumbai, on changing expectations of corporate world & industry and how are those being met by the institution By Meha Mathur What are the current thrust areas and infrastructural developments at SPJIMR? One of the current thrust areas at SPJIMR is the promotion of entrepreneurship and innovation. We’ve taken significant steps to foster an entrepreneurial mindset among our students. SPJIMR has consistently invested in enhancing the campus facilities to provide a conducive learning environment for our students. Over the last few years, we have taken initiatives to modernise our infrastructure, including the creation of state-of-the-art classrooms and learning spaces equipped with the latest technology. What are the changing expectations of corporate world and industry and how are you meeting those expectations? Our goal at SPJIMR is to ensure that our graduates are well-prepared to handle complexity effortlessly. We place a strong emphasis on equipping them with essential skills like decision-making, critical thinking, empathy and agility, which are crucial in this dynamic environment. We collaborate closely with businesses to develop programmes and curricula that address the evolving needs of the corporate world. We are dedicated to shaping students into thoughtful and responsible leaders. How will AI affect management education and what is your institute’s approach to disruptive technologies? AI’s impact on management education is inevitable, with the potential to reshape how students learn and interact with the business world. As AI disrupts various industries, including education, SPJIMR recognises the need to adapt. From a pedagogical perspective, SPJIMR believes in focussing on the fundamentals. Rather than merely chasing technology, the institute emphasises critical thinking, the ability to connect dots in unique ways, and sound judgment as foundational skills. In the AI age, these basic skills become even more crucial. What are the changing aspirations of students, what experience do they want while at b-school and how are you fulfilling those aspirations? Students’ aspirations have evolved over the years and their expectations from a B-school experience are no exception. Today, students are looking for more than just academic knowledge; they seek a holistic and experiential education that aligns with their career goals and personal development. At SPJIMR, we are dedicated to meeting these changing aspirations. Our commitment to fostering an entrepreneurial mindset is reflected in initiatives like the FinNovate Accelerator. This programme allows students to participate in the entrepreneurial process up close, working with startups and local incubators. What are the biggest challenges before B-schools today? In the rapidly changing landscape of business education, we face significant challenges and our approach is anchored in fostering wise innovation. The breakneck speed of technological advancements is a formidable obstacle. Our response involves seamlessly integrating these changes into our curriculum to ensure our students are well-prepared for the ever-evolving digital business landscape.
28 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM T he XIM University is built with a strong focus and foundation of academic and service excellence, personal values and social concerns, asserts Fr Antony R Uvari, SJ, Vice Chancellor, XIM University. He tells BW Education that the university distinguishes itself in quality education in the ‘Spirit of Magis’, enabling people to lead extraordinary lives. While talking about how tech integration in education influences the skills of students, Uvari says, “Information and communication technology has a positive effect on student learning and should be included in classroom instruction.” Incorporating technology in curriculum XIM’s faculty-driven academic system, research-oriented teaching-learning environment, industry connection, strong student-alumni interface and focus on human dimensions in business while connecting business with society gives it competitive advantages, the management claims. Traditionally, it focuses on experiential learning and immersion programmes, which are embedded in the curriculum, through innovative and unique pedagogy to include industry experts along with core faculty to match with evolving technology and market dynamics. Despite the unprecedented challenges posed in recent times, XIM University responded quickly and securely to the industry needs and XIM was made a happy hunting ground for the corporates and prospective recruiters. Academic governance and admission processes continued uninterrupted. Uvari tells BW Education, “New Bloomberg Labs have been created and new courses have been introduced, such as Design Thinking for Managers. We have also set up a school of Computer Science and Engineering to promote and encourage cross-functional learning, pedagogy and research within XIM University to develop emerging skills and career paths in the digital era.” A win-win situation Experts pitch that universities and institutes must realign their curriculum and academic delivery to the new and emerging phase of industrialisation, industry 5.0, that requires humans working alongside advanced technology and AI-powered devices to enhance the efficiency and effectiveness of workplace processes. As tech rises more, AI-led e-learning solutions are expected to assist professors in bridging the knowledge gap between their lectures and generating low-storage study materials and other lessons in digital format. This way, students and experts can leverage the entire study material without taking up much space in the system. “With the ability to analyse data on student performance and preferences, AI can help educators create customised lesson plans and assessments that a l i g n w i t h e a c h student’s unique s t r e n g t h s a n d weaknesses. This can improve student engagement and motivation and ultimately lead to better academic outcomes,” concludes Uvari. ENABLING PEOPLE TO LEAD EXTRAORDINARY LIVES B-SCHOOL SPECIAL Fr Antony R Uvari, SJ, Vice Chancellor, XIM University, on tech integration in education and how it impacts students' skills By Abhishek Sharma
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30 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM How is NEP 2020 being implemented in the institution? The implementation of the National Education Policy (NEP) on our campus was relatively smooth. Many of the recommendations outlined in the NEP were already an integral part of our educational framework. For instance, strong industry involvement. Moreover, in addition to the regular curriculum, our students also engage in multiple live projects across various domains, which provide them with experiential learning opportunities. This aligns with the NEP’s emphasis on practical learning. What are the biggest challenges before B-schools today and what solutions would you suggest? One of the major challenges in front of B-schools is the need to keep in step with the ever-evolving industry demands. To do that, one is required to have a long-term perspective. Besides, being in the midst of a proliferation of business schools, there needs to be a concerted effort to remain authentic and true to one’s unique identity. Moreover, we should also be prepared for the demands for substantial allocation of resources to meet the diverse needs and expectations of students. How will AI impact management education and what is your institute’s approach to disruptive technologies? We have wholeheartedly embraced technology and harbour no apprehensions about its impact. In fact, we leverage technology to our advantage. Currently, we have identified and incorporated around 21 AI tools into our educational framework and it’s worth noting that approximately 15 to 16 of these tools are freely accessible. One of the prominent AI tools we employ is ChatGPT. Our approach to disruptive technologies, particularly AI, is based on training our students to utilise these tools in a structured and ethical manner. We emphasise the importance of crediting the AI tools used in their work and teaching responsible and accountable usage. What are the changing expectations of the corporate industry and how are you meeting those expectations? The current expectations of the corporate world require students to become agile learners. So, through our curriculum and pedagogy, we encourage our students to stay ahead when it comes to adaptability and learnability. Companies today are also looking for graduates with a multicultural mindset - individuals who can seamlessly interact with people from diverse backgrounds, breaking barriers, practising inclusiveness and addressing unconscious biases. We are committed to raising awareness and promoting inclusiveness and diversity among our students. EXPERIENTIAL LEARNING OPPORTUNITIES B-SCHOOL SPECIAL Narayani Ramachandran, Director, SVKM’s Narsee Monjee Institute of Management Studies (NMIMS), Bengaluru, on the implementation of NEP 2020 By Upasana
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 31 IMPARTING MULTI-SKILLS B-SCHOOL SPECIAL Srinivasan R Iyengar, Director, Jamnalal Bajaj Institute of Management Studies (JBIMS), University of Mumbai, on the shift from imparting mere basic management skills to multiskills in an integrated manner By Upasana AI has often been discussed as a harbinger of an unprecedented wave of automation, thereby shifting the distribution of labour among occupations and industries and reshaping future jobs. “AI is not a plug-and-play technology with immediate returns in business schools. If school leaders allow the value of data to override the value of the people whom the leaders serve, then the leaders justify replacing themselves with robot leaders who endow AI with all decision-making power,” shares Srinivasan R Iyengar, Director, Jamnalal Bajaj Institute of Management Studies, University of Mumbai. Presently, there is a shift from imparting mere basic management skills to multi-skills in an integrated manner. In this context, the workshops, guest lectures and exposure to live projects would help college students in improving non-technical skills demanded by industry and making them industry ready from the entry-level worker to the senior-most positions. Creativity, collaboration, persuasion, time management, adaptability and emotional intelligence are few of the most demanded soft skills, he shares. Infrastrutural upgradation In the current competitive environment, a knowledge-based economy plays an imperative role in higher education institutions. As a learning institution, JBIMS is capable of delivering knowledge and skills, producing excellent graduates because of the blend of regular and guest faculty members. “We have over 100 visiting faculties from leading corporates, with rich experience of industry and academia. We engage most of our alumni for teaching and mentoring students. We witnessed good investments for renovating buildings, classrooms, library,” states Iyengar, updating about the infrastructural development at the institution. Winds of change The Maharashtra government implemented NEP in June 2023, with the four-year undergraduate degree. JBIMS is an autonomous institute, affiliated to University of Mumbai. The university has established the task force, working groups and committees dedicated to the effective implementation of NEP. University committees are preparing an institute development policy, curriculum development, teachers training, technology integration and policy implementation. All graduate, science and arts programmes have started implementing NEP 2020. JBIMS has implemented NEP in MSc Finance programme from this academic year onwards. Students are increasingly attuned to global issues such as climate change, social justice and pandemic preparedness. “In my nearly 25 years of teaching, I have seen a recent change in the kind of students that business schools draw. Management students are concerned about the mounting threats of climate change, income inequality, healthcare and more,” Iyengar underlines.
32 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM How will AI impact management education and what is your institute’s approach to disruptive technologies? AI and GenAI is a reality and will disrupt and transform a wide range of industries. Most skills are likely to be redundant by the time students graduate from a course. According to the World Economic Forum, one in four jobs are set to change in the next five years. In this context, as a B-school, we are evaluating how to embrace these technologies in the classroom to accelerate the rate of learning while also making students aware of potential limitations and societal impact of these tools. What is the current thrust area at the institution and what have been some significant changes in terms of infrastructure, faculty recruitment and curriculum revamp? We have recently articulated KJ Somaiya Institute of Management’s purpose, ‘Together we enable transformation journeys of individuals to value-based and purpose-driven leaders for building a better world’. The stated purpose, together with our values - integrity, excellence, curiosity, collaborative and humility - is the basis for all the change initiatives at the institute. Our revamped curriculum will ensure our graduates are ‘day-1 ready’, having a balance of ‘hard’ and ‘soft’ skills while having a non-compromising attitude to ‘values’ and a deep understanding of subjects. What are the biggest challenges before management institutes today and what solutions would you suggest? Management is perhaps one of the most important innovations of humankind and many principles of management will continue to be relevant despite the digital and other technological disruptions. B-schools must take these big tectonic shifts and disruptions that are happening and redesign their programmes to meet both the student and the industry needs. If B-schools fail to do this through sufficient retraining of their faculty and redesigning of their programmes, there is a risk of being irrelevant. What experience do students expect while at B-school and how are you meeting those aspirations? Students look at management education from a placement perspective with a salary that provides adequate return on their investment. Consequently, there is often a mismatch between their aptitude, understanding of job profile and the offer that they take up. We help students to recognise that B-school degree is the beginning of their transformational journey and offering tools so they recognise their competency profile early and plan their career to leverage their strengths. ACCELERATING THE RATE OF LEARNING B-SCHOOL SPECIAL Raman Ramachandran, Director, KJ Somaiya Institute of Management, on embracing technologies in the classroom to accelerate the rate of learning By Upasana
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34 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM T eaching, training, research and consultancy are the four pillars of a holistic B-school and IIM Nagpur, the 14th IIM that was set up in 2015, has done remarkably on all these fronts. The institute has earned its reputation as the fastest-growing B-school. To begin with, we have built world-class infrastructure, with an inspiring ecosystem. From honouring the legacy of great leaders like APJ Abdul Kalam, Baba Amte and JRD Tata to providing all modern amenities, we have it all on the campus. While developing the campus, we built the infrastructure and developed horticulture simultaneously. We have also recruited best of the best faculty. We went for hiring associate professors and professors. They would be the best faculty from all B-schools, rather than faculty from the best B-schools. There is a distinct difference between the two, as the best institutes do not always have the best faculty. New-age programmes We are also focusing on our executive education, and among all the second and new generation IIMs, totalling 15, we lead in terms of revenue generation, having earned Rs 30 crore. We became pioneers in starting a programme in cyber security and data science, and blockchain. Besides, we have launched senior management programmes in project management, supply chain management, logistics management and marketing analytics. These programmes not only generated revenue for the institute but also created a huge alumni base. We ha ve also forged bonds with organisations like Indian Oil Corporation, Larsen & Toubro, HPCL, Coal India, Bosch India and Maharashtra Forest Development Corporation for consultancy work. Executive education and consultancy are extremely important for a B-school because the knowledge that we generate as part of both these engagements is pumped back into the MBA programme. Holistic approach At the same time, we have revised our curriculum keeping the National Education Policy in mind. We called over 16 academicians and industry leaders for their advice. In a new course that we have launched, i.e professional management practice, we involve students to identify some important leadership traits, the areas where they are strong and weak, respectively. And we have identified 50- odd mentors from the industry to help students improve upon the areas of weakness. The students are also sent for ‘Bharat Darshan’, which is essentially rural immersion. To become a great decision-maker, they need to know the rural reality too. “EXECUTIVE EDUCATION & CONSULTANCY VERY IMPORTANT FOR B-SCHOOLS” B-SCHOOL SPECIAL IIM Nagpur, a third-generation IIM, exudes freshness of ideas and energy that makes the campus a dynamic learning place. Bhimaraya Metri, director of the institute, delves into some key initiatives As told to Meha Mathur
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 35 How has been the journey of the institution and what have been the challenges? IIM Udaipur has established itself as one of the top management schools in India, focused on high-quality research. Our rankings in academics and research, along with international recognition, set us apart. IIM Udaipur has taken its place among the top global B-schools by receiving accreditation from the Association to Advance Collegiate Schools of Business. As IIM Udaipur is focussed on top-class research, attracting faculty of high calibre has always been a challenge. The institute does not have a huge corpus and thus it has less financial flexibility. What is it that new-age IIMs can do that established IIMs find it difficult to carry out? Newer Indian Institutes of Management (IIMs) have certain advantages and opportunities compared to the more established IIMs. Some of the things that newer IIMs can do easily or differently are as follows: Newer IIMs have the advantage of designing their curricula with a fresh perspective and they can adapt more quickly to changing industry needs &global business trends; these IIMs can explore innovative teaching methods and technology-driven approaches to education. What is the impact of disruptive technologies on the campus and what is your approach towards these technologies? Disruptive technologies are having a significant impact on educational institutions, including campus life and the overall learning experience. These technologies have made education more accessible and flexible, allowing students to learn at their own pace and access resources from anywhere. As for the approach towards these technologies, we are proactive in embracing and integrating them into our operations. We have allocated resources for technology infrastructure, faculty development and technology adoption. What are students’ aspirations and is there a change in focus towards startups rather than taking up corporate jobs? Students’ aspirations and career preferences have evolved over the years, reflecting changes in the business landscape, societal values and personal goals. There has been a notable shift in focus towards startups and entrepreneurship, although corporate jobs continue to be a significant career choice for many. Corporate roles can offer stability, structured career paths and opportunities for professional development. What are the industry expectations from management education and how is the institute meeting those expectations? Industry expectations from management education have evolved in response to changing business landscapes, technologies and the dynamics of a global economy. Industries expect management graduates to possess knowledge and skills that are directly applicable to the modern business world. We are fulfilling this expectation by regularly updating our curriculum to include the latest business trends, tools and technologies. "FOCUSSED ON TOP-CLASS RESEARCH" B-SCHOOL SPECIAL Ashok Banerjee, Director, IIM Udaipur, lays emphasis on quality research while highlighting institute's journey and major challenges By Upasana
36 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM E stablished in 2010, IIM Tiruchirappalli began its operational journey in 2011 with its flagship Post Graduate Diploma in Management programme, now called MBA. The institute had its temporary campus at the National Institute of Technology Tiruchirappalli. “It is time to express gratitude that NIT Tiruchirappalli gave all the required support as a caring host during 2011 to 2017. IIM Tiruchirappalli shifted to its own permanent campus spread over 175 acre and conveniently situated just 10 km south of the international airport at Tiruchirappalli. The institute began its journey from admitting 60-plus students in 2011 in its flagship programme,the size of which has increased to 360 in 2022,” says Pawan Kumar Singh, Director, IIM Tiruchirappalli, underlining the journey of the institute. Technology in Teaching IIM Tiruchirappalli right from the beginning has taken up a proactive approach towards the use of technology in acquiring, disseminating and creating knowledge. “Our Long Duration Online Post Graduate Certificate Programme with the provision of face-to-face campus module was started six years before Covid hit the world very badly in an unfortunate manner. These programmes are aimed to help managerial and leadership capabilities reaching to the far corners of the country,” states Singh. “Our varied mix of pedagogy leading to effective teaching is meant to address the phase where we are getting impacted by disruptive technologies,” he further informs. Education for Micro & Macro Perspectives On the expectations of industry from management education, Singh says, “On the whole, there is no incongruence between the goals of various institutes of management and the expectations of industry from management education. The institute wants to create worthy future leaders and industries expect industry-ready graduates from management institutes.” He adds, “Our institute takes care of all aspects including quality management education, creating skills for effective managerial capacity and leadership providing value-based and socially-relevant insights and education that is sensible to micro, macro and international perspectives.” Talking about students’ aspirations and the change in their focus towards startups and entrepreneurship rather than taking up corporate jobs, Singh states, “The institute prepares the capacity of the students so that they may choose career and life as per their choice. Corporates feels happy in including our students in their scheme of things. To build up strength in the field of entrepreneurship, we have included provision for such knowledge in our compulsory as well as elective courses.” "VARIED MIX OF PEDAGOGY" B-SCHOOL SPECIAL Pawan Kumar Singh, Director, IIM Tiruchirappalli, on the use of technology in acquiring, disseminating and creating knowledge By Upasana
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38 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM with the regular MBA curriculum. The average or minimum work experience of these students ranges anywhere from five years to 25 years. I believe the marketplace is the best indicator of the quality of the programme or the quality of products. So, each year, we have attracted top brands for campus recruitment. What have been the challenges in this journey? I took over in July 2019 and within five to six months, the pandemic struck. For nearly 18 months, we all came to a standstill in terms of coming to the office and performing other official functions. As I had been in the US for 30 years, I was very well accustomed to the online or virtual learning model and that helped me to mentor and guide the students. What are the advantages of being a new institute? I think as a director, when we start a new institution, we are able to follow some of the cutting-edge practices. There is not a complete legacy that we have to undo and unravel. So, one big advantage I had was in terms of setting up some of the practices including the curriculum modes, mode of operations, and the type of culture that we create both with faculty and non-teaching staff and everyone, those were the positives. I do not think students come to IIM because of the physical infrastructure alone but because of the reputation that is built on the quality of faculty. As a third-generation IIM, what is your approach to making a mark in the community of B-schools? We are doing very well. We follow the same pedagogy as other IIMs and we draw from the same port. Since I took over five years ago, the number of students has increased from 250 to 750 now. Next year, this number will go up to 800-850. During the same period, we have also added several new programmes. For example, in the PhD programme, we have added an MBA in Business Analytics because science and analytics are in demand. We have also added an Executive MBA programme for which classes are held on weekends. There is a campus visit once or twice in each of the three years. The curriculum is very closely aligned "EMBRACING CHANGE & CHALLENGES" B-SCHOOL SPECIAL Nagarajan Ramamoorthy, Director, IIM Amritsar, on how the institute not only embraced technology but also the hardships that came during the pandemic and evolved in new and innovative ways in order to excel By Shruti Tripathi
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 39 “WE ARE POSITIONING STUDENTS AS JOB CREATORS” B-SCHOOL SPECIAL BS Sahay, Director, Indian Institute of Management Jammu, discusses the unique aspects of the institution, its focus on creating leaders and entrepreneurs, the challenges it has overcome, and more By Poonam Singh What are the USPs of IIM Jammu that give it an edge in management education? Our vision is to produce leaders and entrepreneurs. We want our graduates to start their own startups and offer jobs, positioning them as job creators rather than job seekers. At IIM Jammu, students’ profiles have evolved with a focus on creating entrepreneurs. Despite being the youngest IIM, we have consistently been ranked high by the National Institutional Ranking Framework (NIRF). We completed our campus in record time and have a strong focus on creating entrepreneurs. We’ve also began collaborations with institutes like IIT Jammu and AIIMS Jammu for dual-degree programmes. We not only provide high-quality academic learning but also emphasise practical exposure through industry collaborations and projects. The beautiful and serene campus location is another advantage, providing a pollution-free environment conducive to learning and innovation. Additionally, our commitment to diversity, industry interaction, and community engagement sets us apart. How does IIM Jammu integrate industry exposure into its academic programme? Industry exposure is integral to our academic programme. We actively engage industry experts, practitioners, and professionals to teach 20 per cent of the syllabus. This approach ensures that students not only grasp theoretical concepts but also understand their practical applications. We also introduced the position of ‘professor of practice’, bringing in experts from diverse fields, including industry, bureaucracy, and armed forces, to enhance students’ understanding and applicability of knowledge. Could you elaborate on the unique initiatives taken by IIM Jammu to promote environmental consciousness on the campus? We have adopted five government schools and are actively involved in various initiatives to support them. Moreover, we are expanding our outreach to include villages surrounding the campus, focusing on government schools and colleges. Our goal is to contribute to the holistic development of these areas. The emphasis on sustainability is evident in our efforts to create a green campus, utilising the natural beauty of the location and ensuring a positive impact on the environment. How has technology and the increasing role of AI impacted education at IIM Jammu? Technology, including AI, is a significant enabler in education. While we embrace hybrid learning models, we still emphasise the importance of in-person interaction with industry experts. The key is to strike a balance, leveraging technology for efficiency while maintaining the human touch in education. Our approach is to adapt and integrate technology without isolating ourselves from its benefits.
40 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM Ram Kumar Kakani, Director, IIM Raipur, on the agility of second-generation IIMs, and how the institute is aligned to changing Indian economic landscape New IIMs have the flexibility and agility that larger, more established organisations often find challenging to emulate. “Unlike traditional structures with ingrained bureaucracies, we can adopt differentiation strategies swiftly. The physical infrastructure of older IIMs can pose constraints. Limited space and resistance to change can hinder the implementation of innovative ideas. In contrast, new IIMs have the opportunity to create a conducive environment from the ground up,” says Ram Kumar Kakani, Director, IIM Raipur. Impact of new-age technologies The impact of disruptive technologies at IIM Raipur has been two-fold. On one hand, there’s a noticeable trend among the younger generation to rely on shortcuts like Chat GPT, AI and ML, often leading to a more mechanical approach to decision-making, bypassing critical thinking. However, the institute recognised the significance of these technologies and adopted a positive direction. Rather than resisting change, the institute has embraced disruptive technologies, integrating them into the ecosystem for constructive purposes. The institute employs these technologies for scheduling and streamlining processes for greater efficiency. One notable application is in online learning, where audio-visual materials enhance educational experiences beyond the limitations of written content. The institute leverages disruptive technologies to their full potential, acknowledging that when used thoughtfully, they have the power to convey information more effectively than traditional methods. Evolving professional landscape The modern generation exhibits remarkable flexibility, moving away from the traditional preference for jobs with fixed working hours. They are open to stretching themselves, embracing challenges and reaping the benefits of their efforts. This adaptability reflects a positive trend towards a more dynamic and responsive workforce, aligning with the evolving professional landscape. “I’ve observed a dynamic shift in students’ aspirations reflecting the evolving landscape of the professional world. In today’s aspirational society, students are keenly attuned to the opportunities presented by India’s growth trajectory. The allure of contributing to the nation’s development during this transformative era is palpable,” says Kakani. Industry expectations Speaking about the expectations of industry from B-schools, Kakani states, “We meet industry expectations from management education by actively engaging with industry stakeholders. We gain a deep understanding of their needs through continuous conversations and interactions. This insight allows us to integrate relevant content into our courses, pedagogy, workshops and seminars.” “Now, we find ourselves on the cusp of adolescence in the realm of higher education,” says Kakani. Overcoming the challenges of being in an urbane region speaks volumes about the institution’s resilience and commitment. "CONDUCIVE ENVIRONMENT FROM GROUND UP" B-SCHOOL SPECIAL By Upasana
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42 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM Vinita Sahay, Director, IIM Bodh Gaya, emphasises mindfulness as an important plank of the institute's approach, that address people and planet in addition to profits I IM Bodh Gaya chose the value of mindfulness as its focus area. Mindfulness was introduced in the institute’s mission statement after brainstorming with all stakeholders. “In line with its mission to develop mindful business leaders and sensitise the value of mindfulness among the business community, the institute has taken multiple steps to achieve these outcomes such as setting up of its own Mindfulness Centre — Samatvam, introduction of mindfulness related courses in MBA, PhD and IPM programmes, etc. and organising conferences, workshops and FDP on mindfulness,” says Vinita Sahay, Director, IIM Bodh Gaya. She adds, “Through this, the institute wishes to add an important social dimension to business and management and create a greater consciousness on the triple bottom line of people, planet and profits.” Immersive and innovative pedagogy The common thread of academic excellence binds all the activities undertaken at IIM Bodh Gaya. This is predominantly accomplished through its innovative pedagogy involving immersive learning experience. The flagship MBA programme of IIM Bodh Gaya equips a student for an industry and services-led career in the global environment. The programme imparts theoretical and practical erudition of different functional areas of management endowing the students with an overall approach to management functions and managerial skills. Staying relevant IIM Bodh Gaya ensures relevance in business trends through participation from industry to keep the students abreast with latest issues, concepts and models existing in dynamic and complex business environment. This facilitates bridging the gap between industry and academic and ensuring relevance and currency of the pedagogy. “The institute also endeavours to develop socially responsible business leaders and its emphasis on societal impact is reflected through its vision, mission and programme learning competencies. To develop leaders of social relevance, IIM Bodh Gaya believes that contributing to society is as imperative as academic achievements,” underlines Sahay. Interdisciplinary approach The institute has signed MoUs with academic institutions like Indian Institute of Technology, Patna, and All India Institute of Medical Sciences, Patna, to collaborate on interdisciplinary research and teaching. IIM Bodh Gaya has also signed MoUs with over 22 international institutes for research and teaching activities. Faculty and staff members are part of these exchange programmes with international partners. The institute has partnered with the State Health Society, Bihar, to provide management solutions to address their grassroots problems associated with limited reach and lack of motivation and engagement. IIM Bodh Gaya faculties provided the management expertise by designing and delivering management development programmes for the employees of State Health Society, Bihar. "SOCIAL DIMENSION TO BUSINESS & MANAGEMENT" B-SCHOOL SPECIAL By Upasana
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 43 "MANAGEMENT EDUCATION HAS UNDERGONE SIGNIFICANT CHANGE" B-SCHOOL SPECIAL Himadri Das, Director General, International Management Institute (IMI), on the impact of disruptive technologies and other changes happening in management studies By Shruti Tripathi What impact will the rising penetration of disruptive technologies and artificial intelligence have on management education? The curriculum content of management education has undergone a significant change in the last few years, for those who appreciate the need to change and be in line with what the industry wants. So, disruptive technologies like blockchain have come in and completely changed the way supply chains operate. We have introduced blockchain as part of our curriculum and students are learning how to apply blockchain in different, broader areas of management. How do you look at the performance of management institutions in India? Please elaborate particularly about International Management Institute. The future of B-schools in India is going to be very outcome-oriented in terms of giving students the relevant skill sets that the industry requires. This is going to be a major shift because industry requirements are moving at a very fast pace. We have recently restructured the curriculum in all our programmes, in consultation with senior industry executives. What have been the challenges in this journey and how has the institute overcome those? We faced the same challenges everybody faced during the pandemic. But we did not get affected by any of these challenges because we pivoted very fast. We moved online immediately and had all the technology in place, without losing learning effectiveness. All our classrooms today support hybrid teaching. Our faculty teach in traditional mode but we can have industry executives from anywhere in the world teach online. How does the provision of ‘Internationalisation of education’ in the NEP influence the management schools and your institution? We have had international placements even before NEP came and students do get jobs outside of India. International placements will continue to grow as we go along. We have always had international academic partners and exchange programmes where our students go abroad for a term and the international partners’ students come here for a term. We have a large amount of collaborative research between the faculty of our school and those of international schools. How have physical infrastructure and faculty strength been augmented? All our classrooms were renovated to make them hybrid classrooms. Classrooms have now been modernised with technology. We have interactive panels in each classroom and cameras & microphones in the ceilings so that we can run them as hybrid classrooms. We are currently building a recording studio. We hired a large number of young research-centric faculty members with PhDs.
44 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM Debasis Sanyal, Director, Great Lakes institute of Management, Gurgaon, talks about the concerted effort to establish right processes and academic rigour at the institute that was established in 2010 What is your approach to make a mark in the community of B-schools? Great Lakes Institute of Management, Gurgaon (GLIM-G) is a very young business school that has established itself as a credible brand in a short period of time. Today, GLIM-G has become an aspirational destination for students and faculty from across the country, looking to add to their professional skills and career journey, respectively. The number of applications for the two-year PGDM programme has gone up by nearly five times, from around 3,000 in 2018 to over 14,000 in 2023, owing primarily to our constant emphasis on value-added quality education. All facets of the academic cycle, from admission to curriculum development, to delivery of the courses and up to placements, are administered diligently with an eye to delivering best-in-class quality. GLIM-Gurgaon boasts of a faculty cohort that any B-school would be proud of. Moreover, placements is a critical issue for students in business schools in India. The placement record of GLIM-Gurgaon has always been very impressive, reinforcing our ability to attract good quality of students in the programme. What have been the challenges in this journey and how has the institute overcome those? The main challenge has been to attract faculty with excellent credentials. Today the academic community in India recognises GLIM-Gurgaon as one of the best young B-schools, committed to provide an environment of research and teaching in addition to providing attractive remuneration and service conditions. While placement of students will continue to remain a challenge for every B-school, GLIM-Gurgaon has a fulltime team of professionals that has not only negotiated these challenges with success but is also ready to meet the increasing expectations of the students in the future. What impact will the increasing penetration of AI and disruptive technologies have on management education? New technology disruption has been and will continue to impact individual lifestyles as well as the business world. It is important for a business school to be agile to adopt new technology and rise to the occasion by developing a dynamic curriculum that can address such disruption. The institute has been a pioneer in introducing courses in cutting-edge areas such as analytics, internet business, artificial intelligence & machine learning, cloud computing etc., which significantly impact the future of businesses. “IMPORTANT FOR B-SCHOOLS TO BE AGILE” B-SCHOOL SPECIAL By Meha Mathur
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 45 By Himanshu Ojha Subir Verma, Director, FORE School of Management, New Delhi, on the challenges faced by management institutions and role of technology in management studies What are the main challenges being faced by B-schools? Technology has brought in new ways of learning. Today, we have to combine both online and offline education. This kind of right combination is required to provide students flexibility and also choices in choosing courses & specialisation. Our courses now have to enable our students and our graduates to become more competent in managing situations in a technology-determined industry. How you are carrying forward the legacy of B-schools in India? Industry has been changing, management knowledge over time has evolved and the context has become more challenging. I think this has enabled all of us to use technology and ensure education becomes more immersive, practice-based and relevant. How do you look at the role of artificial intelligence in management education? AI in management studies is all about movement towards making organisations and individuals more productive and efficient. The challenges it has thrown are in the spheres of inclusivity and equity. We need to be alert about mindless adoption and applications of AI. We need to be aware of advantages in terms of productivity and decision-making but we also need to be very careful about how we are applying it. And that can happen only in settings that educational institutions provide. What are the infrastructural developments taking place in B-schools? Almost all B-schools have become more technology-enabled. And we have to provide immersive experiences. Usage of games and simulations has become very important. Teaching in the form of experiential learning activities and also in the form of theatre has become very important for the pedagogy. So, infrastructure space has become important for the student – not just in the classroom but the social space where they can learn from each other. What does the industry expect from management schools? Expectations of industry from B-schools have changed over time. Now, the industry people want students to come straight away from the classroom and start applying whatever they have learnt, or start unlearning whatever they have learnt and learn new skills that are more relevant and applicable in the corporate setting. They want a more finished product who knows how to use technology, a product that has awareness of both context of the business and also application of the domain knowledge. “TECHNOLOGY HAS BROUGHT IN NEW WAYS OF LEARNING” B-SCHOOL SPECIAL
46 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM KS Venu Gopal Rao, Director, ICFAI Business School, Hyderabad, describes how the institute is moulding its curriculum in the midst of changing tech landscape I CFAI Business School (IBS), Hyderabad, which has trained more than 20,000 students in near three decades, is changing its curricula that reflects the needs of industry. Director KS Venu Gopal Rao shares that the institute is also focussing on experiential learning, investments in technology upgradation, access to digital resources, encouraging faculty to pursue sponsored research projects, societal impact, sustainability, governance and ethics, entrepreneurship and expanding the portfolio of recruiters for campus placements, among others. Opportunities and challenges Asked about the impact of AI on education and institute’s approach to disruptive technologies, he says, “AI can provide personalised learning experiences based on a student’s interests, abilities, and learning style. This can help students learn at their own pace and get help where they need it most. Such diverse abilities of AI can map the student’s competencies with the job role he/ she is interested in. IBS will invest in relevant AI tools and technologies…. IBS has taken steps to launch courses in AI in the MBA programme.” However, adapting to the disruptive forces of technology is also a huge challenge before B-schools, he says. In addition, the Covid pandemic has created a plethora of alternatives for flexible and hybrid learning. Students need not take a conventional approach and fixed time frames to learn, he points out. “Adapting curricula to changing industry requirements is the second biggest challenge. The lead time between theory and practice has not been bridged. More often, text books are outdated. Student skilling needs active industry collaboration which is a challenge for many business schools. There is no immediate solution for this,” he admits. Getting trained faculty is the third biggest challenge facing B-schools, he emphasises. Many business schools continue to face this crunch despite providing the best working conditions. This can only be resolved by a concrete concerted action by government and private education sector participation, according to Rao. “Industry-academia gap continues to widen. This is the fourth biggest challenge. This could be due to a variety of uncontrollable factors. Government can mediate and motivate both industry and academia to actively collaborate for hiring faculty on short-term industry assignments, promotion of joint research and hiring of industry professionals in academia on sabbaticals/ as professors of practice,” Rao suggests. “BIGGEST CHALLENGE IS TO SURVIVE DISRUPTIVE FORCES OF TECHNOLOGY” B-SCHOOL SPECIAL By Meha Mathur
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 47 By Barkha Rawat Madhu Chitkara, Pro Chancellor, Chitkara University, talks about the industry engagement, technological innovation and the thrust on research at the campus What are the changing expectations of industry from B-schools and how are you fulfilling these? The evolving dynamics of the business landscape have led to a shift in the expectations of the industry from management programmes. These include: • Recruiters now expect B-school graduates to possess practical skills such as critical thinking, problem-solving, communication and adaptability. These skills are taught at Chitkara Business School through value-added courses. • With the growing influence of technology in business, there’s an increased demand for management graduates who are proficient in data analysis, digital marketing, and other technological tools relevant to their field. Our business courses are integrated to meet the industry requirement. Technology exposure is given to all specialisations on regular basis through workshops and skilling programmes. • Businesses are expanding globally, creating a need for professionals who possess a global perspective. We have tuned our curriculum more towards transnational education in business programmes through co-teaching model. We have 2+2 articulation business programmes where in students spend half of their tenure at our campus and remaining half with international partner to acquire global skills. How is Chat GPT and other disruptive technologies impacting management education? Disruptive technologies like chatbots, artificial intelligence (AI), and machine learning (ML) have started to influence various aspects of management education, including teaching methodologies, student engagement, and learning experiences. By leveraging AI and ML, educational institutions can analyse vast amounts of data to gain insights into student performance, preferences, and learning patterns, which can help in tailoring the curriculum and teaching methodologies to better meet the students’ needs. Adaptive learning platforms powered by AI can customise learning paths for individual students, thereby enhancing their learning outcomes. Some of the approaches that Chitkara University adopted include technology-integrated curriculum, skill development initiatives, collaborative research and industry partnerships. How is research fostered at Chitkara? The university has various research committees to oversee the quality of research viz. Research Advisory Board, Doctoral Research Board, Institutional Human Ethics Committee, Institutional Biosafety Committee, Animal Ethics Committee and Startup Committee. Research labs for life sciences (8), engineering & technology (23) and physical sciences (3) facilitate multi-disciplinary research and bring out life-changing technologies. The Office of Patent Facilitation, Licensing and Consultancy (OPFLC) organises programmes for promotion of innovation culture. These have resulted in filing of more than 2,400 patents, out of which over 650 have been published and more than 210 have been granted. “FORWARD-LOOKING STRATEGY TO INTEGRATE DISRUPTIVE TECHNOLOGIES” B-SCHOOL SPECIAL
48 B W EDUCATION MARCH - APRIL 2024 W W W.B WEDUCATION.COM Cricket commentator Harsha Bhogle studied at IIM Ahmedabad in 1983-85 and worked in advertising before making his mark as a cricket commentator. He describes the ethos then as well as the change that has come about, in a chat with Meha Mathur I t was a different time when I was a student. Everyone came by train, we didn’t have attached toilets. A few years ago when I went back to the campus, students were complaining about lack of parking space. It was a big eye-opener for me. Learnings For me, spending two years at IIMA remains my single greatest high. Studying finance, accounts, supply chain, HR, marketing, advertising, sales and so on, we started looking at situations from a very different perspectives, rather than from a purely engineer or supply chain perspective. We got to understand the importance of all functions in a company. And the peer interaction is outstanding. People come to B-schools driven by individual ambition but the world they are going into is driven by the ability to be a part of the team. I hope students realise quickly that beating the boy or girl next to them will not determine their success in life. B-school is such a beautiful immersive experience. I would urge the students to live that experience, enjoy it to the 100 per cent; at the same time give your subject 100 per cent, and your relationships 100 per cent. Career aspirations Entrepreneurship was unknown. Getting a job after a degree from IIMA was the biggest aspiration because most of us came from single-income families. But what IIMA did for me was give me a lot of confidence. I was taken aback by the quality of people around me. So I became a survivor and ambitious,from a happy-go-lucky person. Also, I could experiment at work because we had two incomes. And, backed by IIMA degree, I could get back into advertising if I wanted to. The most memorable experience Meeting Anita (his batchmate and wife) at IIMA was the biggest influence on my life. I will forever be indebted to the institute for that. Also, the trust that the institute placed in the student was phenomenal. I did not do my second-term exams in 2nd year. When I returned from holidays, each professor set me a question paper and told me to leave the answer sheet on the table at the end of three hours. There was no invigilator. That trust meant a lot to me. It placed a responsibility on me. So, exactly at the end of three hours I put the answer sheet and walked away. "THE TRUST THAT IIMA PLACED IN ME WAS PHENOMENAL" B-SCHOOL SPECIAL
W W W.B WEDUCATION.COM B W EDUCATION MARCH - APRIL 2024 49 HOW WE RANKED B-SCHOOLS B-SCHOOL SPECIAL B -SCHOOL RANKINGS are an important resource for management education aspirants as they set out to appear for management entrance exams and wrack their brains regarding their dream institute. The choice between first-generation IIMs, second and third generation IIMs and private B-schools is not an easy one and rankings provide a reference point about the relative merit of B-schools. Like each year, team BW Businessworld commenced upon the ranking exercise months in advance. It identified 10 broad parameters and 50 sub-parameters. It invited more than 500 institutes to participate in the survey. Like previous rankings, the data for the ranking was sourced either directly from the institutes, through public records or secondary sources. A perception survey conducted among aspiring seekers, current students, alumni and recruiters, totalling 1,000 responses, was also factored in. The parameters on which the responses were sought from the institutes were: Leadership: Leadership qualities of the institute CEO/director and the governance of the institute. Faculty enhancement programmes: Measures taken by the institute to enable faculty to do research. Admission process: Stringency and transparency in the selection process of students. Curriculum and pedagogy: Effectiveness of teaching-learning process, innovations in pedagogy and frequent updation of curriculum. Industry linkages: Nature of industry linkages and outcomes; joint research projects undertaken by faculty with industry, and industry exposure given to students. Research: Infrastructure made available to faculty and students for research; publications in A, B, C grade journals. Infrastructure: Facilities in institute buildings like labs, IT-enabled classrooms, library, electronic databases, hostels, etc. Placements: The proportion of total students getting placed, average salaries, types of companies visiting the campus. Global interface: International MoUs, student and faculty exchanges and other measures to promote global outlook. ROI: Whether the outcome is worth of money spent on college. It is after a rigorous process commencing with collating the data from various institute and assessing it, as well as doing a perception survey, that Team BW Businessworld finalised the rankings
Rank 2023 Name City Zone Leadership (15) Knowledge Creation (25) Insititutional Capabilities (25) Transition from Knowledge Force to Work Force (30) Finance (5) TOTAL Leadership Excellence Gobal Interface Intellectual Capital Innovation & Incubation Faculty Infrastruc- ture Industry Linkages Placement Return on Investment (RoI) 100 15 5 10 10 15 10 10 20 5 RANKINGS TOP B-SCHOOLS OVERALL 50 B W EDUCATION MARCH - APRIL 2024 WWW.B WEDUCATION.COM 1 Indian Institute of Management Ahmedabad; Indian Institute of Management Bangalore Ahmedabad; Bengaluru West/ South 15 5 10 10 15 10 10 20 5 100 2 Indian Institute of Management Calcutta Kolkata East 15 5 9.8 9.8 15 9.8 9.9 20 5 99.3 3 Indian Institute of Management Lucknow Lucknow North 15 5 9.6 9.8 14.7 9.8 9.9 19.8 5 98.6 4 Xavier School of Management Jamshedpur East 14.8 4.8 9.7 9.8 14.8 9.8 9.8 19.8 5 98.3 5 Management Development Institute Gurgaon* Gurugram North 14.6 5 9.6 9.6 14.6 9.7 9.9 19.6 4.8 97.4 6 SP Jain Institute of Management & Research Mumbai West 14.6 4.8 9.6 9.6 14.7 9.7 9.8 19.5 4.8 97.1 7 Faculty of Management Studies, Delhi University New Delhi North 14.6 4.8 9.5 9.6 14.7 9.6 9.7 19.5 4.8 96.8 8 Indian Institute of Management Indore Indore Central 14.5 4.8 9.5 9.6 14.3 9.7 9.9 19.2 4.8 96.3 9 Indian Institute of Management Kozhikode Kozhikode South 14.5 4.8 9.6 9.6 14.3 9.7 9.6 19.2 4.8 96.1 10 Indian Institute of Foreign Trade New Delhi North 14.4 4.8 9.5 9.5 14.5 9.7 9.5 19.1 4.8 95.8 11 SVKM's Narsee Monjee Institute of Management Studies (NMIMS) Mumbai West 14.3 4.8 9.5 9.5 14.3 9.5 9.5 19 4.8 95.2 12 Institute of Management Technology (IMT) Ghaziabad North 14.4 4.7 9.4 9.7 14.2 9.5 9.4 19 4.7 95 13 Xavier Institute of Management (XIM) Bhubaneswar East 14.3 4.7 9.6 9.5 14.1 9.5 9.5 18.8 4.7 94.7 14 International Management Institute (IMI) New Delhi North 14.2 4.8 9.4 9.4 14 9.4 9.4 18.7 4.7 94 15 Symbiosis Institute of Business Management Pune West 14.2 4.6 9.3 9.4 14 9.5 9.4 18.7 4.7 93.8 16 Indian Institute of Management Udaipur Udaipur West 14.3 4.6 9.3 9.4 13.8 9.3 9.3 18.6 4.6 93.2 *The MDI Society is constituted by the Department of Financial Services (DFS), Ministry of Finance (MoF), Government of India. IFCI under MoF, is one of the members of the MDI Society and nominates a member to the MDI Board of Governors. Though the MDI functions like an autonomous institution, it is controlled by the DFS, MoF, GoI Rank 2023 Name City Zone Leadership (15) Knowledge Creation (25) Insititutional Capabilities (25) Transition from Knowledge Force to Work Force (30) Finance (5) TOTAL Leadership Excellence Gobal Interface Intellectual Capital Innovation & Incubation Faculty Infrastruc- ture Industry Linkages Placement Return on Investment (RoI) 100 15 5 10 10 15 10 10 20 5