IMC 2014: Vision 2025 offers answers to challenges facing Indian MBA
The 5th edition of Indian Management Conclave (IMC), organized by MBAUniverse.com, kicked off on August 8 with the unveiling of the EPSI-MBAUniverse.com Vision 2025 for Indian Management Education. Prepared by Dr H Chaturvedi, Alternate President, Education Promotion Society of India (EPSI) & Mr. Amit Agnihotri, Chairman, MBAUniverse.com, the Vision 2025 examines the history, progress and current state of Indian management education, and also provides the much needed recommendations to improve the current state of affairs in next 10 years by taking policy measures which are aligned with the Government of India’s National Vision & Priorities.
Indian MBA education is currently passing through a turbulent period, with the lack of an integrated MBA education policy as one of the most serious challenges to the system. As per AACSB, India has world’s largest number of management programs. However, Indian management education is in crisis; with India’s top tier B-schools lagging behind not just the Western B-schools, but even late entrants such as China.
The Vision 2025 Document examines the history, progress and current state of Indian management education. It recommends strategies to improve the current state of affairs in next ten years by taking policy measures which are aligned with the Government of India’s National Vision & Priorities.
The Vision 2025 framework aims at achieving three key goals for Indian Management Education:
- Significantly improve the global repute of Indian MBA education
- Create robust ‘National B-schools’ that contribute to economy and industry and also to National governance projects and thus form the core of Indian MBA education
- Integrate bottom tier B-schools towards meeting India’s Skills Mission
Key recommendations of Vision 2025 are:
Globally reputed B-schools
Based on parameters like International accreditation, rankings, research output and intake of foreign students; Indian B-schools are lagging behind even from their Asian peers. Currently there are just five or six B-schools that can be termed as a global B-school on these parameters. The Vision 2025 aims to create 50 Indian B-schools of Global repute by 2025.
The Vision 2025 is to create 500 Indian B-schools producing 1.5 Lakh quality managers by 2025.
Skills focused B-schools & MBA programs
The Vision 2025 must be to create 2000 Skills focused B-schools that can produce 400,000 MBAs by 2025.
EPSI-MBAUniverse.com Vision 2025 for Indian Management Education
Released at 5th Indian Management Conclave 2014, Aug 8, New Delhi
Vision 2025 recommends a consolidation in number of MBA programs -- from 3900 to roughly 2500. Put together, these B-schools will produce 5,75,000 MBAs in a year.
Apart from the presentation of the Vision 2025, Day 1 of IMC 2014 Conclave was addressed by many distinguished speakers including:
- Dr Pankaj Ghemawat, Professor of Strategic Management, IESE Business School, Spain
- Dr Ashish Nanda, Director, IIM Ahmedabad
- Dr Robert Kennedy, Dean, Ivey Business School, Canada
- Dr SS Mantha, Chairman, All India Council for Technical Education (AICTE), New Delhi
- Dr Ricardo A. Lim, Dean, Asian Institute of Management (AIM), Manila & Chairman, Philippine Academy of Management
- Dr C Delporte, Director, EFMD Brussels
- Dr Rama Velamuri, Professor of Entrepreneurship; Department Chair (Strategy and Entrepreneurship), CEIBS, Shanghai, China
Stay tuned to MBAUniverse.com for more updates from 5th IMC 2014.