Facing up to the challenge

Are business schools in India geared to produce world-class managers?

In a world where relentless change is the only constant, how can students best prepare to handle the challenges of tomorrow? With rapid globalisation and technological developments in the business world, the need for management education to keep pace with the shifting goalposts of relevance has never been as important as it is today. This is business education's "how" challenge: how can it stay relevant and expand access?

At a seminar on the future of business education held at the Columbia Business School earlier this year, the experts agreed on four broad needs before management education at this point:

• More focus on interaction and application in class while uploading more lecture-like material
  

 

More experiential learning outside the classroom, locally and globally
 

More emphasis on entrepreneurship and innovation, balancing learning-by-studying with learning-by-doing

 

Supplementing the soft skills of leadership with a data analytics toolkit allowing leaders to talk to and learn from the "geeks"

In India, the world's largest provider of management education, too, it is time for introspection: What are the ways in which they can contribute to a better future?

Let's face it: Indian B-schools are not unaffected by the impulses of the markets they serve. There are a few things they need to do to be future-ready. Research is one of the key elements that require urgent focus.

That apart, closer interface with the industry, government and policy research institutes is important. The best B-schools integrate industry inputs into the curriculum through internships, guest lectures, live projects and customised business simulations.

Last but not the lest, the trend of top-rung Indian institutions seeking international accreditation is making business schools more competitive. The benefits of accreditation (such as AACSB, SAQS) are many, and it helps increase the visibility and credibility of management schools worldwide. As its significance continues to be recognised, business education needs to respond to dynamic changes and to be future-oriented. A good and balanced business curriculum will equip students to function as viable members of tomorrow's society.

Amid such cross-currents Business Standard brings to you a compilation of the best B-schools in India today. Business Standard has put together this annual survey for more than a decade. A point to remember: this is not a ranking of B-schools, but a guide to the best B-schools in the country to help students make up their minds.