PGDM B-schools, and other private sector higher institutions, play an important role in delivering higher and technical education in India, but it is only those institutions that offer quality education and training which will survive the current spate of closures, where more than 300 B-schools have closed down in last few years. This is the key message coming from AICTE Chairman Dr SS Mantha when he addressed 75 Chairman, Trustees and Directors from Mumbai, Pune and rest of Western India at the MBAUniverse.com Western India RoundTable on March 28 in Pune.
Accepting the important role that private sector institutions play, Dr Mantha said, “More than 90% of our higher education in India is in private sector. Many B-schools and Universities that offer quality education have huge demand and are serving the society.” He further added that today offering high quality education is essential to stay relevant in an era of greater choices.
"Many B-schools are closing because they didn't offer quality education. It is a market-driven world. So there is nothing that AICTE or any other government regulator can do about it. However, I firmly believe that B-schools that offer good education and at affordable prices will not just survive but will thrive," said Dr Mantha.
Dr Mantha also listened to feedback and suggestions from leading Mumbai and Pune based B-schools in the open house session. The session was addressed by Dr Promod Kumar, Group President, ISB&M Group (Pune, Kolakata, Bangalore and Gurgaon); Dr. Madhumita Patil, CEO, Chetana’s Institute of Management and Research, Mumbai; Dr D Y Patil, Director, Bharati Vidyapeeth's BVIMSR, Navi Mumbai; Dr Dinesh D Harsolekar Director, IES MCRC, Mumbai; Dr Pandit Mali, Director, Indira Institute of Management, Pune; Dr. D P Apte, Director, MIT School of Business, Pune.
Earlier, chairing the panel discussion on 'State of MBA Education’, Dr Rajan Saxena, Vice Chancellor, NMIMS University said, “Indian management institutions need to adopt a multi-stakeholder approach. They have to deliver value to students, recruiters and society to stay relevant.” He added, “Today, B-schools all over the world are fighting for their relevance in the new ecosystem. Those B-schools that offer value to multiple stakeholders, and not just to their promoters, will stay relevant. Government must offer more autonomy and promote greater private sector participation in Higher education.”
Dr Gupte said that Pune has evolved into a hub of management education because of several factors working in its favor but it must continue to offer quality education to remain a national MBA education destination.
While Dr Joshi emphasized on the importance of the role of state universities like Pune University and Mumbai University in management education, Dr Parikh said the primary focus of management institutes must be to offer a great learning experience to students, as its primary duty. Dr Racherla emphasized on the need for innovation in management education.
Delivering a special address, Dr Shubhro Sen, Director of the Tata Management Training Center (TMTC), Pune & Co-founder of 'Conscious Capitalism Institute, USA' said that management education must leverage technology platforms like MOOCs to offer a richer experience to its students.
Speakers from leading global education sector organization also spoke on the 'Global Trends in Management Education'. Michael J Cruz, Vice-President & Managing Director, Emerald Group Publishing, India emphasized on the need for research and knowledge creation in Indian MBA schools. Vinay Hebbar, Managing Director, Asia Pacific, Harvard Business Publishing spoke about the recent changes in the Harvard Business School curriculum where they are laying more emphasis on ‘action learning’ by field visits. Rajesh Sinha, Founder and CEO, Fulcrum Worldwide urged B-schools to adopt technology tools to deliver greater value to their students.
The meet is supported by IBM FULCRUM Worldwide, Emerald Insight, Woxsen School of Business and Harvard Business Publishing.
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