good morning [ afternoon ]

Recent Trends in Industry and Business:

The Implications for Business Education

mm bagali JAIN University

FDP for Management Educators, Bangalore University, 18 th Dec, 2015

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JAIN University

Agenda

1. Business education: A snap shot2. Business Trends: A changed landscape3. The Future: Get Ready4. Your Views and Analysis

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Backdrop

Introduction

Around 700 UniversitiesAll Variety of UniversitiesAll have a B-School or Management Education

Recent Times Higher Education University Ranking[ Nov 2015 survey results ]

2 University in first 250 rankings– [https://www.timeshighereducation.com/world-university-rankings/2016 ]

B-SchoolAround 4000 Across India3665 B School / 366 PGDMAll variety of B-SchoolHow many of them rank in World Ranking… IIM-A/ IIM-B

Indian RankingAcross 6-7 years Same B-School, may be 15-18% new one join

What this communicate to all !!!!

Reva University, 18th & 19th Dec 2015

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Hard Facts

Demand for CourseAcross India

Marketing 40 Finance 30 IT/ Entrepreneurship20 HR 10

Reasons

Wide scopeJobsProjectsTeaching Community

Reva University, 18th & 19th Dec 2015

Demand for the Course

MarketingFinanceIT / EmptHR

05/01/2023 Reva University, 18th & 19th Dec 2015

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View Points

(Datar, Garvin, & Cullen, 2010) MBA graduates lack in global perspective, leadership skills, integration skills,

recognizing organizational realities and implementing effectively, acting creatively and

innovatively, thinking critically and communicating clearly, understanding the role, responsibilities and purpose of business, understanding the limits of models and markets

NASSCOM’s report (2012) In the absence of these skills, the MBAs do not remain employable. This is furthered by the indicating that not more than 25 per cent of engineers and MBA graduates are employable.

several other studies

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Institution / Year

1857 1947 1950-51 1990-91 1996-97 2005-06 2007-08 2014-15

Universities 3 19 27 184 228 335 417 659

Colleges 27 496 578 6627 8529 18064 20,677 33,023

Students 5399 241369 263000 4925000 6755000 11028000 12121700 3000000+

Teachers N/A N/A 24000 272700 321000 480000 500000 700000+

Appended

Table No 1 : Status of Higher Education in India 1857 - 2015

Source: AICTE report, 2014-15

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INDIA HAS A TREMENDOUS FUTURE

India will be the third largest economy by 2040 India will be the 5th largest consumer market by 2025

http://media.economist.com/sites/default/files/cf_images/20060916/CSU168.gif

http://www.indiaeducationreview.com/news/180-b-schools-closed-2012-160-pack-2013-assocham

INDUSTRY READINESS?

• “Only 29 percent of graduates from Indian business schools - excluding those from the top 20 schools - get a job straight after completing their course”– Aditi Shah

• Part of this problem arises from students themselves (and their parents)—their mindset and approach to knowledge– Most come in without work experience– See MBA as path to a job (even one for which they may be unfit)

http://in.reuters.com/article/2012/09/10/india-education-mba-business-schools-idINDEE88900W20120910

A LARGER ISSUE: DEGREES VS EMPLOYABILITY

http://jobmarketmonitor.files.wordpress.com/2012/07/fireshot-screen-capture-1324-the-week-i-hire-secondary-week_manoramaonline_com_cgi-bin_mmonline_dll_portal_ep_theweekcontent_do_programid1073754899contentid12073376.png?w=750

THE REAL CHALLENGE

• The tragedy is that B-Schools have got relegated to the role of placement agencies and all students and faculty are partners in the demise of the larger reason for the existence of a B-School - to create entrepreneurs.

• … faculty also need to make contributions to knowledge, consulting, teaching and training. As of today it seems that B-Schools are in the business of chasing training opportunities that are easy to capture rather than creating knowledge that is meaningful and a reflection of our existing context.

• The real business of B-Schools is not to just churn out students, boast of great rankings but create entrepreneurs and knowledge. The business schools in the country have fared miserably in both these parameters and [in terms] of impact that would really put our country firmly on a map as a knowledge capital of the world and an entrepreneurial hub that makes the world go around.

http://www.careers360.com/news/5091-B-Schools-Quality-check-is-must

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EDUCATION’S PURPOSE IS TO CREATE A …

• Capable• Confident• Curious• Creative• Critical-thinking• Compassionate• Citizen

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What is a Mega Trend?

Mega trends are global, sustained and macro economic forces of development that impacts business, economy, society,

cultures and personal lives thereby defining our future world and its

increasing pace of change

Top Megatrends

Urbanization / Urban worldSMART City

Generation YWomen Empowerment

Rise Of Middle ClassReverse Brain DrainCloud Computing

Virtual WorldWireless Intelligence

N11 – The Next Game Changers: The next big emerging markets coined as the Next 11, will be the future economic engines of growth – signalling a shift in economic power in 2020 from BRIC countries to nations of Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, South Korea, Turkey, Vietnam

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Top 10 Business Trends That Will Drive Success In 2015-6

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Information EconomyTechnologyEmergence of Global EconomySmall Business conceptInformal network/ Network globallySpeed QualityEfficiencyMore choices

Gen YWomen EmpowermentOutsourcingCloud ComputingVirtual WorldRoboticsNew Business ModelsEntrepreneurship rising

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Marketing View Point

Focus On Connecting CustomersWill Invest In Mentoring And EngagementRole of Salespeople Will EvolveTightly Integrated Sales and MarketingIncreases in Weekly Business Role PlayDivergent Customers – Price vs. Value

Challenges

Customer SatisfactionCustomer retaining

Market CapSell fast / First

Under Customers

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Human Resources View Point

Work-Life balanceEngagementPerformance ManagementDash Board conceptTalent

IdentificationEngagementManagementRetention

Challenges

HiringSkills

AttritionEngagement levels

CompensationRewardDiversity

Inclusive growth Regulations/ Code/ Rules

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Finance View Point

ROIM/ ASmall Business Work from Home2-3 join to start business

Challenges

Where to investCultural issuesCompatibility

FlextimeQuality

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Business Organisation

NimbleSharedTransnationalEntrepreneurship risingGlobal marketplace

Collaboration and connectionStrategic PartnershipEmployees manage their own hours- Flexi time

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Common factors across al functional Areas in Business

TechnologySocial MediaAppsERPCRMBusiness Intelligence

Mobile is key

Cloud Big dataAnalyticsEvery decision on data must

ComplianceEnforcing Intellectual Property Rights

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Future of Business Education

http://crisil.com/pdf/ratings/bschool-brochure.pdf

FACTORS AFFECTING QUALITY: CRISIL’S GRADING CRITERIA

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General MBALeader+ ship

Relevance to practicePrepare for the future

Multi-geographies [ immersion programs]

Students make Schoolfaculty make Program

Management make the BrandAlumina make the rest of all

Need for broader research approachesPrepare students for a broader range of careers

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Know, Do, Be

The “knowing” component: The facts, frameworks, and theories that make up the core understanding of a profession or practice

Examples: the forces determining industry structure, the meaning and measurement of return on capital, and the four Ps of marketing

The “doing” component: The skills, capabilities, and techniques that lie at the heart of the practice of management Examples: Execute tasks as a member of a team, implement a project, conduct a performance review, deliver an effective presentation, sell a product, and act innovatively

The “being” component: The values, attitudes, and beliefs that form managers’ world views and professional identitiesExamples: the behaviors that exemplify integrity, honesty, and fairness, awareness of personal strengths and weaknesses, the preferred treatment of others, the purpose and goals of organizations

IMPROVING TEACHING: SOME THOUGHTS

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•In the era of the Internet, there is no shortage of useful resources–Latest: Massively Open Online Courses (MOOCs)–Need to be tailored to the Indian context

•The ecosystem needs to be developed to ensure sharing of best practices–Need a network that focuses on improving B schools–Need to incentivize good teaching, content sharing

•But the biggest challenge may be mindset

INVESTING IN CONTINUOUS IMPROVEMENT

DO WE TAKE THE INITIATIVE TO TAKE ADVANTAGE OF NEW OPPORTUNITIES?

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Lectures have limited impactReading about problems or memorizing principles doesn’t help a practitioner in application of concepts and knowledge to real-life problemsDISCUSSIONS help achieve this objective! By putting the learners in ACTIVE LEARNING MODE

When educational objectives focus on Qualities of mind (curiosity, judgment, wisdom)Qualities of person (character, sensitivity, integrity, responsibility)Ability to apply general concepts and knowledge to specific situations

DISCUSSIONS ON REAL-WORLD ISSUES

PREPARING FOR THE FUTURE

OUR WORLD IS CHANGING DRAMATICALLY

• Attracting the world to India– Competition from foreign business schools – Indian campuses and tie-ups with Indian

business schools Students?

• “International students will come to India when India is recognized as a major education centre, when India is seen as a desirable destination for expatriates to live in, and when Indian institutions can give an ‘MBA’ degree instead of the PGP diploma or certificate.”– Ajit Rangnekar, Dean, Indian School of Business

http://www.ft.com/cms/s/2/4d7dbae8-c1bc-11df-9d90-00144feab49a.html#ixzz2JbBm8cqh

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Few Questions always….

Can we create manager in class roomHow is class room teaching enoughis PhD must for facultyIs experience for students mustIs specialization to be offeredHow big should the class size be

MOOC has come? What next for class room setting !!!

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M M Bagali, PhDProfessor of Human Resource Management,

Head, Research in Management,

JAIN University

CMS annex, # 319, JPnagar, 6th Phase,17th Cross, 25th Main,

Bangalore, India, 560 078

t: 80 43430400 / f: 080 26532730e: mm.bagali@jainuniversity.ac.in

n: http://in.linkedin.com/in/mmbagaliwww.jainuniversity.ac.in

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