Practicality of Management Education

It’s a dream for any student to do post graduation in management. Lots of management institutes have come up in last two to three years. Students have a lot of choices today. But students should be careful about the institute they choose. It’s as important as choosing your career path.

Just getting a degree of management course is not enough. Ultimately a student has to make a career in the corporate world. Today’s corporate world is lot different than what it was 10 years ago. Today the Global economy is much more interlinked. Problems in one part of the world spread like wild fire to other parts of the world. As we know western economies are in trouble. Greece is facing a crisis. This crisis has put a question mark on the existence of Eurozone. If no solution is found for this problem quickly, again the entire world will have a bad time. Also economies are much more open today. We can make it out from our own economy. Almost all sectors have been opened up. Earlier a few business families used to dominate Indian markets. There was a license raj. It was easy for these business houses to manage competition and customers. Customers were the ultimate losers who got bad products and services.

Now the scene is totally different. Sectors have been opened up. Competition has intensified across sectors. Customer has ample choices. Getting good growth has become difficult. Corporate executives are under tremendous pressure to deliver.

Today’s management graduates are supposed to work in such a scenario. Not only are they supposed to work but also deliver. Just classroom inputs are not going to help students to survive and grow in their careers. Many of the institutes are just doing that. They are just offering classroom inputs supplemented by some minor practical assignments. Students get certificate at the end of two years. But this certificate doesn’t mean that they are ready to deliver in practical world. Because ultimately what matters is how student applies concepts in the real life situation to get results. Just because a student is management graduate doesn’t help him in having fast track career.

That is why when student chooses management institute he should be careful. He should look at the contents of course apart from other things. Course should have practical perspective. Syllabus should be integrated with the industry so that during two years not only he learns concepts in the classroom but also gets a chance to apply them in the real life situation. When syllabus provides this opportunity, he gets ready to perform in the corporate world. Today so many management graduates pass out every year. If one tracks their career, not everybody makes it to the top. Only a few management graduates reach the top. All those lose out had only degree. But they were not ready to fulfill the requirements of corporate world. Blame goes to institutes which didn’t mould students in two years as per the requirements of industry. That is why students should choose only those institutes that really prepare and mould them to take on the big bad corporate world.

Effective Business Management Unites Education and Training with Corporate Coaching

Business management spends billions of dollars in corporate training and education. According to a report released in early 2006, the U.S. corporate education and training market exceeded $46 billion. Additionally, business management and leadership training captured the largest percentage of program dollars with developing new and existing management along with succession planning. (Source: Bersin & Associates)

With training budgets increasing and the additional focus on leadership and management development because people do not leave organizations they leave managers, achieving higher levels of positive return on investment (ROI) makes sense. Research supports that to increase training ROI begins by including coaching as an effective tactic.

In a 2001 study completed by Dr. Merrill Anderson, of MetrixGlobal, for a Fortune 500 company coaching can produce a 529 per cent ROI. Additional studies since that time confirm the positive affect of coaching. Business management executives are now employing a new learning strategy that combines education and training with coaching. This is initiative is corporate coaching. So what is corporate coaching?

Simply speaking, corporate coaching extends existing learning or what some call training by infusing one on one executive coaching within the education, training and development sessions to achieve performance improvement that generates a positive ROI. Corporate coaching is always aligned with the strategic plan and the organization’s current goals and provides a vehicle to reinforce current learning as well as a way to make necessary course corrections through both individual and team perspectives. Corporate objectives are achieved much quicker allowing for a better competitive advantage.

NOTE:What corporate coaching is not – any program that cannot be aligned to the strategic plan and lacks a structured process that does not focus on pre-determined measurable results.

How does corporate coaching work? The answer to that question is “that depends.” Corporate coaching is flexible and may be included within the training schedules or upon completion of the training. The real issue is to find a corporate coaching process that is results focused and uses proven tools that build the What’s in it for me (WIIFM) leading to the What’s in it for us (WIIFU). Effective corporate coaching works to further internalize the identified learning objectives and quantifies those efforts on a regular basis through consistent goal achievement.

How do I find a corporate coach? That is a very good question since many coaches whether a certified coach or not are now offering corporate coaching services. Possibly, the best way is to find a coach who:

Is results focused
Has a demonstrated record of success that is quantifiably measurable
Has both proven developmental processes and tools that work with the strengths of your organization.

Remember, companies win because of their strengths not their weaknesses. Corporate coaching allows you to further capitalize on those very strengths that made your company what it is.

Management Education Should Be Improved

Management Education offers marketing courses, course in human resource management, media etc., is something for which each and every student aspires for. The extent to which we learn to manage is “what is important” and in this, some students pursue formal education in management whereas some students emerge as self taught. But what I would like to concentrate upon is this pursuit of formal management education.

Are lectures coupled with case studies, workshops, interactive sessions, seminars and presentations the most ideal form of teaching is the traditional method that is followed across most institutions. Some institutes have innovated with Guest faculty who give a first experience of the happenings in the industries, so that the students can remain updated of the latest developments. It is becoming imperative for B-Schools for effectively combining tradition with innovate and modernity.

Just check the traditional methods that are followed by many B-schools in short listing the students for Management education. The written exam is followed by Group Discussions and Personal Interviews. Various leading B-schools that offer marketing courses, course in human resource management etc, have incorporated and innovated factors of psychological performance through innovative management games and response tests for judging the students true outlook for pursuing management education.

B-schools create revolutionary thinkers, leaders in the business world but they have not been thinking to take any innovative steps as far as their own brand building is concerned until now.

One might want from B-Schools may be endless. But as a bench mark B-schools (offering marketing courses, course in human resource management etc.) should strive to offer an infrastructure that will incorporate the state-of-the-art facilities aimed at strengthening the technical, conceptual and human skills of the managers that emerge from the institute.

With features of intelligence building, the overall set up should be futuristic that will be cumulative effect of Technology with knowledge faculties (from India and abroad) from across the globe. All thanks to rapid progress of technology for this will be a systems driven set up in the age of digital era.

These facilities should include Plug and Play classrooms equipped with video data LCD projectors, videoconferencing, audio playback facilities with high speed internet connectivity, E-centre and Entrepreneurship Guidance Cell, Centre for Global Networking, Hi-tech Management development centre, State-of-the-art CD ROM based library, Case Study discussion hall and the likes.

All About Management Education

There are more management institutes in India this time than ever, in any other country, perhaps. This was not the case a few years back when education was not an industry and under strict government control. This was only when government decided to liberalize its policies to attract more foreign investment in the country, and the foreign investors faced an acute problem of qualified workmen for to help them manage their businesses here. Government immediately loosened its lead on education sector and liberalized it. This privatization move resulted into a lot of management institutes all over India. Earlier, it was feared that the lost of control over education will spoil the quality of it but it is not so. The privatization raised a staunch competition in between the colleges and institutions and forced the survivors to provide high level of education which is directly applicable to current industries.

Apart from IIMs (Indian Institutes of Management), the top b-school in India, there are many private institutes which are imparting quality management education with all major specializations. These institutes are regularly updating their curriculum and strategies to make their students highly competitive in global arena.

Likewise there are different types of management courses to suite all level of management aspirants, for example MBA (Master of Business Administration) is a three years full-time program for graduates. It is available in almost each segment of business requirement like:

MBA HR (Humane Resource)
MBA Finance
MBA Marketing
MBA Banking & Insurance
MBA Retail
MBA International Business
MBA Pharmaceutical

Likewise, there is another course PGDM (Post Graduation Diploma in Management), for working executives and is reckoned as equivalent to MBA. And there is another course BBA (Bachelor of Business Administration) for those who have just completed their schooling and want to take up a course in management education that opens door in corporate world.

The competition has even made it easier for the management aspirants to complete these courses without any financial, time or age restrictions. Those who want to make a career in management students can avail education loans, join courses on part-time or week-end classes basis and can join a course at any age.