Globalization is having a major impact on the world; it is radically changing our way of life and the way we do business. Unfortunately, by and large, the management curricula in India were developed prior to the economic liberalization of 1991. Except to a few appendages, there were very few changes in the curricula. In the wake of economic liberalization, multinationals started entering India in a big way and increasingly Indian businesses are going global.
Hence, in light of the globalization and the entry of multinationals, there is a sense of urgency in the air; we need to revisit the way we train, impart management education and help our students become job ready in an entirely new, dynamic and uncertain world. Every challenge throws up opportunities; this is an opportune time to redefine our curriculum that will help groom the next generation of business managers who are ready to take on the challenges of a global economy.
In this entirely new equation, knowledge resources are as essential as the traditional resources and technology has become all encompassing affecting every aspect of business. This calls for a paradigm shift in the education sphere and professional management education has to rapidly adapt to this change in our world. This change can be effected in two ways: First, bring changes in the knowledge-based curricula and second, introduce skills based curricula.
The Knowledge-based curricula
Under the knowledge-based curricula, the content needs to be updated to meet the changing needs; components of globalization should be incorporated into all five areas of management including basic courses, core functional courses, inter-functional courses, integrated courses and value addition courses. We can design these courses in a modular form or as full-fledged courses depending on the requirements of the institutions.
The Skills-based – Beyond the Curricula
The placement groups, including prospective employers provide the inputs and their job/skill set requirements; this will help business schools go beyond the knowledge-based curricula giving a global perspective to the students. Students need a global exposure such as working knowledge of foreign languages, sensitivity to cross-cultural relations and exposure to best practices in the industrialized world to fit and work in a multinational environment. This requirement will be fulfilled by enhancing the students’ skills which are not provided by the knowledge-based curricula.
Objectives of the Conference
a. Identify the changes that are happening in a globalized world and the emerging trends in management education.
b. Examine the needs and deficiencies in the management curriculum.
c. Get the skill set inputs from placement organizations about the industry requirements.
d. Identify the changes required in our management education beyond the curriculum to meet the challenges of a globalized world.