So what is Business School according to you? A school where a student studies academic theories and apply them to the real world? Indian Business School -Are they really effective? According to the study held by Associated Chambers of Commerce and Industry of India, only about 7% of graduate passing out of Indian business Schools are employable with the exception of the top Indian Institutes of Management (IIMs) and the other top 20 ranking institutions. So what happens to the other 94%, do they land a job? More than 50% of B- Graduates land a job with a salary of less than 25,000 INR, and the others who are clothed with luck and degrees get a good-paying job.
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Who is to blame for the current situation of the Indian Business Schools?
The idea of a high paid job and entrepreneurship is making students flock towards business school. The marketing of B-school lures the students by promising them high paying jobs through campus placement and taking a huge amount of fees from them. Instead of giving them the taste of the corporate world, the students are given theory to study which they will forget again in the next days. We can’t say this happens to all the B-school, but the majority of students are becoming corporate slaves rather than the leader. Many companies in the industries are offering millions of people the same business education. A student who took business thinking it is high paying jobs is bound to lose in a country like India where employment is hard to even for excelling students. So the question comes in mind Indian Business School -Are they really effective?
“The problem with most business schools is that they take the smartest kids and train them to be business executives for the rich, rather than executives for the employee.” Teaching people to understand the power of building their own business is not an easy task. The reason it is not an easy task is that most students have been taught to be loyal, hard-working employees rather than to be the business owner themselves. If students are not taught the system of a corporate world and the art to stand on top of the pyramid, how will they survive with learning management theory or economic theory? As a student who is studying in B-school with the hope to become an entrepreneur, we have found that traditional institutions only teach business theories without teaching us an actual skill to conduct business. It’s like Superman without his cape, you have the power but you don’t know how to use it. The secret to acing business is having the actual skill to conduct in the business world. Studying in B-school is more about learning from peers with diverse backgrounds and different opinions, engaging with them and learned mindset from it. Although we can’t blame the failure of students in business to the institutions as doing business requires risk which the youth now are afraid of taking, everyone wants a secure future with a high paying job, which limits their ability to start a business. So the effectiveness of a business school is questionable. Indian Business School -Are they really effective?
The positives of Business school in India
Institutions are providing internships for students to get practical knowledge and work experience. If the internship goes well, the company may provide them a job that drops all the hassle of finding jobs after graduating.
Indian business schools are catching up with the international standards of Business School by opening more international exchange events and providing opportunities for the students by diversifying their actions. This is very important for the student in improving their communication skills and decision making situations.
There is nothing wrong with the theory studies in business school, they are good and at par to international standards too, they are also useful if you know how to imply them well. The institutions teach motivational theory, behavioral theory, leadership skills and all other theories needed in a business environment.
The negatives of Indian Business School
Lack of infrastructure
Some business schools in India operate without any proper facility, faculty who doesn’t have any idea about doing business, lack of research opportunity for the students and no field experience provided. This also led to the closing of many business schools in India.
Only Few Good Business Schools
It is only effective if we do an MBA in a top institution in India otherwise studying business is just a wastage of time and money. Business is all about having a professional attitude and knowing how to handle financial problems and nailing consumer behavior, the type of teaching you will only receive in top institutions. So with the complexity of the corporate world, it is only effective if you get good educations.
Lack of exposure
The business theory taught in B-Schools in India is not wrong but it lacks practical exposure. Students stay up the whole night learning managerial economy or business ethics or Marketing studies and, but if he or she doesn’t learn to apply them in real life, what is the point in going to B-School.
There is nothing wrong with traditional education in attending B-School; the value of things depends on the mindset of people although many B-schools in India need to standardize their infrastructure so that they can help in training the students properly. Simply put, business is all about risk and people are afraid to make a mistake, most people know that learning is a physical process as much as it is a mental process. If you have been conditioned to know all the right answers and not to make a mistake, the chances are your educational process is hampered. How can one be making any progress if you know all the answers but are terrified of trying anything? After all, The Biggest Risk in Life is Not taking any Risks.
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More than seventy years ago, in 1947, India was born. Few Indians now alive know how uncertain India’s future looked in 1947. The most prominent question then being asked was ‘Will India Survive?’ Now, seventy-one years down the road, that fearful query has been replaced by a far more hopeful one, namely, ‘Will India Become a Superpower?’