Bschools’s myth

Focus on business education and career prospects has been intensified further after the lethargy in progress of software industry in India. Management education, once part of commerce stream, emerged as independent discipline and wooing all the graduates irrespective of  their educational background at graduation.Now, more than 2000 Bschools have been to India and shaping management executives to meet the requirement and challenges of modern India. With the advancement of globalization, International Bschools like Yale, Harvard, Cambridge and Oxford planning to open up franchises in India. In vice versa, IIM is planning to go global despite there is domestic deficit of standard management graduates.

IIM’s were started in the very year 1961 with the co-operation of Massachuts Institute of  Technology and Ford foundation.IIM’s have been playing crucial role in the development of management education across India. In the year 1991, Indian has shifted its stand from socialist to regulated market system by adopting LPG policy. Prior to 1991, Indian organizations and companies had been dominated by kins and scions of business emperors. Requirement for standard management graduates increased due to need to cope up with the global competition, business environment and to build a strategic alliances between east and west.

Another pandemic faced by Indian Bschools is their inability to produce successful entrepreneurs in India unlike western countries.Indian business graduates prefer managerial and supervisory jobs by demanding tens of lakhs as annual pay, most of them are not ready to start entrepreneurial ventures.Though some of entrepreneurs are hitting the mainstream market but they are not surviving in long run, except the scions who have strong financial and market dynasties. I will give an example of Indian entrepreneur Sabheer Bhatia’ long  Journey. He has started hotmail in the late 1980’s much before the arrival of google in internet market. He had to sell major stakes of his company to Microsoft for hectic amount. He would have emerged as the global internet giant among Microsoft, Google,Yahoo and Twitter, if he retained his stakes.

It was Mc caulay who introduced English education to meet the requirement of clerical jobs in India, are we still practicing the  Mc caulay model of education even after 60 years of Indepence..

Survey reports  have interesting versions on the myth of MBA degrees. According to a list of best performing CEOs by the Harvard Business Review, 36 out of the world’s top 50 chief executive officers do not hold a masters degree in business administration. Bschools have been facing practical problems of Lack of faculty, excessive commercialization, lack of standard methodology, infrastructure etc.

Harvard business review lamented the management of Bschools claiming that they have been neglecting the area of CSR and Business ethics at the curriculum of business education. Satyam and Raja ratnam scandals signifies the importance of corporate social responsibility and  ethics at business. Here the arguement is, how far Indian Bschools committed to teach the importance of CSR, Business ethics, economic nationalism and  social welfare to their students. We must not forgot Birlas and Tatas credibility and commitment  towards the nation and people.

  1. I agree that focus on business education is increasing day by day. But B-schools should not only concentrate on ethics & social responsibilities, but also on the CORE of its contribution to the country. I stress this because B schools are actually mistaken as the school of upcoming business magnates or entrepreneurs BUT IN FACT THEY ARE NOT!!!!! so far the B schools of india were able to churn out millions of MANAGEMENT EXECUTIVES( a person who manages a task in an already raised industry or organisation). B schools are successfully grooming up managers to work in any global MNC for luring salaries.!!. ( dnt believe? read this.. ) .. So the question to be asked here is that…” how many entrepreneurs were made by B schools since their birth? ” Management Institutes & Business schools failed to plant the spirit of entrepreneurship in their students which is the reason many graduates who passed out B schools are still working in reputed foreign companies for heft amounts since deacdes leaving behind the idea of raising the export potential of our country…

  2. The bold & shocking fact is that.. an entrepreneur will be never born in a business school. to be an entrepreneur .. one needs to do a lay man like work at the beginning to sow the seeds of his company, & then learn the world around … The REAL WORLD….REAL WORLD DIPLOMACY which you can’t find in any book!! & the secret ingredient just like the way a cook has..which can be learnt only by experience …….the moment a person steps in a management school, he/she begins to forget the guts to work in the real world & begins to enjoy the pleasures of world class environment , international exposure, does lots of fascinating & inspiring case studies of great companies(especially foreign ones) & even after doing such wonderful case studies…. he ends up becoming an employee of a reputed FOREIGN MNC thinking that he can accumulate money first & then someday start his own venture which he himself doesn’t know !!!! whereas a layman or an uneducated man parallely starts a small grocer’s store nearby the college, begins learning the community around, then expands it more..turns it innovative,,, & by the time the management graduate settles in his life with the job, the grocer lay man outside the college will have a multicuisine restaurant giving double the income of the management graduate… long live B SCHOOLS OF INDIA!!

  3. The education required to make an entrepreneur is almost different from what you learn at B SCHOOLS. the real thing which makes an entrepreneur is THE MOTIVATION TO BE FINANCIALLY FREE & TO LEAD OTHER PEOPLE EARN A LIVING.!!! It will be nice if B schools add the real life success or failures of small industry entrepreneurs in their curriculum which explains them what it really takes to be one..rather than applauding the typical extravagant case studies!

  4. This is a topic of quality business education. IIM’s are very reputed.But due to to rise in these B schools, the supply is more than the demand however Knowledge is absolute and its implementation is purely the student’s ability or determination.The country’s economic and social conditions also play a major role.The person who opens a grocery store has a limited knowledge and understanding of the business education because its specific to his region.Even if he earns lot of money ,it doesn’t make him a business intellectual  Business schools have not stopped entrepreneurs from establishing industries.They have a vast knowledge of business education and they have lot of scope as well.It is childish to comment about B schools without being a student of it.just like judging the taste of the food without tasting it…”Knowledge is power” . Nothing can replace it and not even money !!!

  5. Even if he earns lot of money ,it doesn’t make him a business
    intellectual  Business schools have not stopped entrepreneurs from
    establishing industries.They have a vast knowledge of business
    education and they have lot of scope as well.It is childish to comment
    about B schools without being a student of it.//////////

    Of the world’s top 10 CEO’s, half do NOT have an MBA, incuding

    SteveJobs (#1 – Apple)
    Yun Jong-Yong (#2 – Samsung)
    Alexey Miller (#3 –Gazprom)

    Jeff Bezos (#7 –Amazon)
    Eric Schmidt (#9 – Google)

    And of the world’s top 50 CEO’s, only 14 do have an MBA — or

    28 per cent! Some 72 percent do NOT have an MBA.

  6. Who is Greater? Dhirubhai ambani or his managing director who is an MBA from IIM. who has greater knowledge in understanding & applying business logistics? Ambani or his MD?  The so called vast knowledge of business schools is born out of the experience & actions of  few business tycoons who were not  MBAs. After a thorough research, it has been discovered that the present day B-Schools of India  are actually replicas of 1980 theories & concepts of USA business schools. This is not a blind statement. I say this as a student of post graduation in international business from IGNOU. Throughout the syllabus i have gone through, No chapter has mentioned E-Commerce in detail! And some concepts like Import-Export , Customs Broking are complicated textual version of what i learnt outside in a simple practical manner through a customs broker.   Moreover, MBA stands for – Masters in Business ‘ADMINISTRATION’  and NOT Business ‘ESTABLISHMENT’  ( Point to be Noted!) ..ofcourse .The MBA graduates will have the vast knowledge of business but LESS DRIVE or motivation to be industrial….The reason? very simple..The B schools have much information …especially professional knowledge about the processes within a business system and not abt how to raise a business system .. so the students get much involved in the processes within the business system. and become less spirited for raising one! .   I think the admin’s post -cartoon image above explains this much better in brief  why THE PARENT COMPANY wants those guys to go for MBA course.   FINAL CONCLUSION:  Join Business Schools to learn How to manage your Business or Company but dont dream that B schools will teach you how to lay plans for setting up ur business & bringing that to a take off stage!    

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