Challenges In Management Education
II. The Present Scenario
Management education denotes those activities traditionally conducted by colleges and universities that focus on developing a broad range of managerial knowledge and abilities (Mamun & Mohamad, 2009). Business education prepares students to learn the basis of thinking critically, communicating effectively and managing small and large enterprises so that they can serve society in a successful and socially responsible manner (Cavico & Bahandin).
Liberation, Privatization and Globalization (LPG) initiated an exponential growth of management education that replaces traditional approach with a more efficient professional approach. In addition to this, Information Communication and Technological (ICT) development has made
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The increase in the demand for professional managers in the country has fuelled the increase in the number of business schools (Karuna, 2009).
2.1 Areas of Concern and Challenges
Some of the variables that have helped in moulding management education include - the needs and preferences of customers of business education; the knowledge, skills and abilities employers expect graduates to possess; the choice of providers available to those interested in pursuing management degrees; and the resources business schools need to serve their customers (AACSB Report 2002).
Mayank & Dave (2007) highlights some of the key reasons for shortage of faculty in management institutes in India are mushrooming of a large number of Business Schools, mandatory PhDs, poor remuneration, engaging in constant knowledge creation and inadequate good quality of doctoral
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The characteristics identified helped in differentiating the more effective from the less effective institutions. It includes: (i) faculty involvement in — preparation of course outline, admission process, transparency in examination, review of course in the program at regular intervals; (ii)institutional involvement in — conducting short programs for practicing executives, establishing links with user systems on academic matters, having a governance system where the board meets at periodic intervals.
Some of the emerging issues discussed by Kumar and Dash (2011) are : the need for formation of a dedicated government body for management education for enhancing the standard of management education; recruitment of competent faculty; quality in faculty; designing and developing curriculum relevant tool needed by industry; involvement in research; corporate governance; institute-industry interaction and tie-ups; value addition by inculcating multiple perspectives – since technological, organizational and personal perspective differ and this helps managers in managing a diverse array of
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