During current times wherein B-school education is undergoing a tremendous change in India, over 3,50,000 AICTE (All India Council for Technical Education) approved MBA seats have mushroomed in India alone. While some may perceive it as a positive move, the reality is, the quality of education offered at a major chunk of these institutes has been mediocre, say experts.
So, are Indian MBA graduates truly employable? Prof. Rajiv K Sinha, professor of marketing and Lonnie Ostrom Chair in Business, WP Carrey School of Business, Arizona State University feels that this depends on the school they graduate from.
"There are a few B-schools in India that do an excellent job of preparing their graduates, partly because they attract some of the best students in the country and partly due to the presence of a well-trained faculty. It is estimated that 100,000 students graduate from private institutions annually. Unfortunately, their knowledge and qualifications range from world-class to not-so-good," he explains.
Similarly, Shantanu Dhar, asst executive director HR, Dalmia Bharat Group expresses, "There are some institutions where students come out with a CEO mindset, wanting to be a CEO without really being prepared for the grind. And there are many schools that present students that are unprepared for the real world. For all of the above, corporates invest on an average, a year to groom them accordingly."
According to Sangeeta Pandey, director HR, Akzo Nobel India, "At times, the students are too theoretical in their responses and lack practical acumen, which may hinder their growth in the real corporate world. The quality of students from Tier 3 and 4 campus leaves a lot to be desired as they need more guidance and knowledge, both at functional and behavioural levels. Also, they don't look at the wider perspective and are at times, constrained by only 'silo-thinking' while making decisions."
In this case, what are the parameters or tools, which corporates can adopt to measure the quality and performance of MBA graduates? According to Prof. Sinha, the most critical thing is to look not only at graduates, but also the quality of the institution they are graduating from.
Pandey further shares, "Besides short-listing prospective candidates based on their profiles, we have a battery of tools including group discussions, psychometric tools, BEIs and specific structured interviews that help us enhance the process of selection. We also look at the cultural fit whilst making the final decision, so that the quality of selection is as per our business needs/model. These tools do help in assessing the quality of an MBA degree."
The quality of a large chunk of MBA passouts could be doubtful to a certain extent, but with the various ways through which the good B-schools are adapting to the ever-changing corporate scenario , the future certainly sees a light of positive hope. And hopefully, there will be a balance between quality and quantity.
Courtesy: The Economic Times