Dreams have no bonds and everybody one wants to fly high up and make the best out of what they learn. Having said that, parents are very particular to choose a stream for their ward, which will help them accomplish their dreams. A decade back a degree in MBA intended a path to the success or a shortcut to get the icing on the cake. To get the admission in one of the top colleges or an Top MBA college was challenging as there were less number of seats and the competition to get into the restricted seats was more. But within a decade an MBA Schools grew in number, so did the number of candidates at that time, but the competition level changed.
The Branded Engineering College came up with their own MBA schools. Everybody talked about the big placements they might give. But two factors changed the Future of MBA in India. One, with increasing number of colleges, increased the number students but the excellence of education came down.
What I mean by the excellence of education came down, is the number of students increased but the competition inside them was not up to the mark, so did the quality of skilled student passing out dropped. Also as in institute increased the excellence of skilled teachers dropped, resulting in the poor framing of the curriculum. The curriculum was not in sync with what the growing industry required it to be. The old Strategies of leadership skills or people handling where unsuccessful.
The Second Factor, what the industry understood, depending upon the first factor is that they need to get the students who have an outlook on business, which meant a non MBA graduate. This method they would get the students trained in a less cost and get the work done, meaning in a low cost a non MBA Graduate would be trained to do a job which an MBA graduate would do, for a lesser pay scale. Hence once the value MBA had has gone down. The upcoming generation has realized that. So they are searching for other steam like MA, MA specialization etc. which are niche skills, and taking up these courses would allow them to get a better pay scale from the market.
In order to get the old worth of MBA back, there's a need to re-innovate new ideas and new methods for handling the leadership role and business techniques. Better teachers to build up, an up to mark and constructive prospectus. If this is corrected then the second factor would less come in the picture, thus reforming the future of MBA in India.
KCC Institute of Technology & Management
