“There has been a huge growth of MBA education in terms of number of management institutions in the country in last 10 years. While the access of management programmes has certainly increased, B-schools now must follow a systematic approach towards brining quality and making their programme relevant,” said Dr Mantha while delivering Keynote address on day-1 of the 4th Indian Management Conclave (IMC) 2013 in New Delhi on August 2.
“There has been commercialization of management education in last decade. Many B-schools are running like shop and they are completely profit-driven,” he said, adding, “Though the growth of the educational institutions in management domain will be led by market-driven forces, there is still need of a regulator which can ensure that a certain minimum level of quality standard is maintained at all the institutions.”
Exhorting B-schools to closely look into their processes, he said, “B-schools need to closely look into all the important factors and find out the gap between ‘what is required’ and ‘what is achieved’ at all the levels. They need to re-look at their system and approaches. If there is a gap, it should be filled by all the legitimate means,” he said, adding, a regulatory environment is required to encourage and support that ‘change’.
Dr Mantha said that role of a regulator has become very important in the management education towards not only preventing the unscrupulous players, but promoting and protecting the B-schools who are seeking change in their own system towards bringing quality. He asked B-schools to keep their vision focused and & ideas properly defined.
“The role of regulatory body is not only confined to preventing unscrupulous players in the domain but also it also stands for ensuring that legitimate players are not pushed back,” he said, adding, it is for B-school community to define ‘legitimacy’ for operating in the system.
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