Noted academician, acclaimed institution builder, and former IIM Ahmedabad professor, Dr Bibek Banerjee is the Dean of School of Management & Entrepreneurship (SME) at Shiv Nadar Institution of Eminence (SNIoE) deemed to be University. He is also the founding Dean of the Academy of Continuing Education at SNIoE; and the Director of Strategic Initiatives & Planning at SNIoE. Prior to Shiv Nadar University, Dr Bibek Banerjee held several leadership positions including the Director General of IMT Ghaziabad Group, where he led IMT-Ghaziabad through one of the fastest AACSB accreditations in India. He was also the founding Managing Director of the IIM-Ahmedabad-Duke University collaboration on Leadership Education. Dr Banerjee holds a BSc (Honours) degree from Calcutta University and his PhD and MS degrees are from Purdue University, USA.
Shiv Nadar University Delhi-NCR (SNU) is recognized as Institution of Eminence (IoE) by the Government of India. School of Management & Entrepreneurship has evolved into a holistic management school that offers a wide bouquet of management programs across under-graduate, graduate and Doctoral levels.
MBAUniverse.com interviewed Dr Banerjee to know his views on key trends in management education, what differentiates SME, and SME’s expanding program portfolio.
Edited excerpts from this interview follow:
Q: Let me start by asking your views on overall trends in management education. What are the megatrends, especially post Covid-19...
A: One of the biggest emerging trends in management education is the focus on Experiential Learning. There is a growing realization that standard teaching and assessment methods, including classroom lectures and even case studies are not sufficient in the Digital age. As such, there is a greater importance being attached to experiential learning methods like business challenge practicums, internships, live projects and simulations. Another important change which is visible post Covid, is the integration of online education in enriching the learning experience. This is particularly important in the context of continuing education, as it allows the working professionals to upskill or reskill themselves, while continuing with their jobs. In terms of subject matter, entrepreneurship and innovation, technology driven courses like AIML, Cloud, Digital Transformation, Cyber Security and Enthics, Sustainability and Governance, etc. are some key emerging trends.
Q: How should B-schools respond to these trends? Give us some examples from your university…
A: Business schools must continue to experiment and innovate to introduce new pedagogies for experiential learning. There is simply no substitute for it. In the School of Management & Entrepreneurship at Shiv Nadar Institution of Eminence (SNIoE), we have a yearlong program called “The Venture Lab” or TVL for our Bachelor of Management Studies (UG) programs, where they are expected to ideate, prototype, establish and commercialize their own business ventures (within / outside the University). Likewise, in our highly immersive MBA program, we have a unique module called “Business Challenge Practicum” or BCP, where student groups work on solving real and live business problems in all its complexity. This is also a yearlong project and allows students to engage with industry stakeholders and entrepreneurs, and solve real time business problems, much before they start their jobs. There is also a Global Immersion Program built in to our MBA program where students work on business projects with global footprints, that culminates into an international immersion. These immersive and experiential modules complement their structured learning in the classrooms in a visceral way.
Excellent business schools can also think about improving access of good education to the millions of learners in the country through online platforms. This would allow them to cater to the needs of working professionals and even students from other Universities. Traditionally, the infrastructure required for business school education was largely physical, with classrooms and the like. Now, with the refinement of online technology, an equivalent focus on digital infrastructure is also needed. Business schools love to emphasize the importance of digital transformation, and rightfully so. It’s their turn now to act and deliver on the same. It is really heartening that the government is also aligned on this vision and that there is support on this agenda.
Q: You joined Shiv Nadar University in May 2020. What are the key responsibilities and how has your role evolved…
A: My role in the Shiv Nadar University leadership team, is to drive the efforts to build Shiv Nadar University as a world class, research-driven, inter- and multi-disciplinary institution. We are very inspired that our efforts and progress toward this aspiration has been recognised by the Government of India in awarding us the status of an Institution of Eminence (IoE). While my primary focus is on developing the School of Management & Entrepreneurship (SME) at Shiv Nadar University, an Institution of Eminence, I also lead efforts to establish the University’s Academy of Continuing Education (ACE) as a premier destination for executive education in business and technology, that co-creates education solutions for the industry, both in B2B as well as B2C models. At the university level, I am also responsible for its key Strategic Initiatives and Planning process.
Q: In your previous role at IMT Group, you led AACSB Accreditation in record time. Before IMT, you had chaired Marketing Area at IIM A. What were the experience like…
A: Yes, prior to joining Shiv Nadar University, I was the Director General and Academic Mentor of the Institute of Management Technology (IMT) Group, spread across Ghaziabad, Dubai, Nagpur and Hyderabad campuses. I led IMT Ghaziabad in becoming the 4th B-school in India to secure the coveted AACSB business accreditation. Subsequently more than a dozen management institutions in the country followed suit – which is a very good movement. We, at IMT Ghaziabad, did this in just four years, which should be some sort of a record in India! A key learning from that journey was that when you transform an institution’s faculty on being both purpose- and process-driven for continuous improvement, and empower them with accountability, then real positive transformations happen.
Indeed, I had a long association with IIM Ahmedabad spanning more than 18 years. I was Professor of Marketing and Economics there, where I chaired the Marketing Area for a term. I may have been among the first handful of academics in India to successfully adopt engaged learning methods such as simulations using digital technology in the curriculum at IIM-Ahmedabad – an element which is followed ubiquitously across B-schools of the country today. Throughout my career at IIMA, I worked closely with the industry, and was intensely involved in creating the collaboration between IIM Ahmedabad and Duke University, which is one of the world’s top Leadership Education Institution. As the Managing Director of the collaboration, I designed and delivered numerous Leadership Programs to top management leaders of Fortune 100 companies. I also co-founded the Centre for Research in Retailing at IIMA.
Q: So, what is your vision for the School of Management & Entrepreneurship at Shiv Nadar Institution of Eminence?
A: My vision is to develop and progress SME into an institution that offers a Comprehensive Full Spectrum suite of top-class Doctoral, Post-Graduate and Under-Graduate programs that challenge and merge the (perceived) divide between academic theory and practical business. Our core philosophy revolves around Interdisciplinarity Research, Teaching and Curricula; and alignment to the digital economy runs through the school’s DNA. We focus on bringing the Best Faculty in management and entrepreneurship to work with our students. Being part of a university that has already been accorded the Institution of Eminence status by GoI – we are confident that our governance structure and strategic vision would be attractive, not only to the best research-oriented academic faculty, but also the top-brass of senior industry leaders who would want to collaborate with us for co-creating a culture of entrepreneurial ecosystem, that will propel the next phase of value creation.
Q: Most Indian B-schools have limited Program Portfolio, which is focussed on 2-year MBA. Please tell us about your programs. How has it evolved…
A: We have programs spanning across the entire suite of management education. At the undergraduate level we have 2 programs -- the Bachelor of Management Studies (BMS) program and the Bachelor of Science in Economics and Finance (BSEF). At the post-graduate level we have 2 versions of MBA program, namely the MBA (Global) and the MBA (Analytics). Finally at the doctoral level we have the PhD program. For working professionals, we have an Executive MBA program and an MBA Online program. We also offer a certificate program titled “Data Science and Analytics for Business”.
Like other business schools, we started by offering the MBA and PhD degrees. Soon after, with rising demand for management education at the UG level, we started our four-year UG program titled Bachelor of Management Studies (BMS). It is a program in high demand where a small number of the applicants eventually receive admission offer. Post Covid, with UGC allowing universities to offer MBA degrees in online mode, we started our MBA Online program, targeting working professionals. In addition to our regular on ground MBA program, we are starting MBA (Analytics) program this year, which aligns well with our vision of producing business managers for the digital age.
Q: From a student’s perspective, what differentiates your institution?
A: Our differentiation is in our curriculum, our pedagogy and our faculty – that is, what we teach, how we teach, and who teaches! For example, The Venture Laboratory and Business Challenge Practicum that run like ‘experiential sutra-dhaars’ in our teaching programs are deeply immersive, expert-mentored that drive visceral student outcomes. Embedded in our programs are rigorous training on contemporary management science focussing on critical and analytical thinking and experiential simulations that not only help students with ‘what to learn’, but also on ‘how to do’. This instils in our students a strong foundation in business fundamentals, with the ability to apply this learning across the spectrum of real business scenarios. So, our graduates emerge as practicing theoreticians – and in the DIGITAL WORLD. You will find this theme across all programs, especially in our Bachelor of Management Studies, our MBA, and our executive MBA and other Masters offerings. We also empower our learners with the key skill of the future – Meta Learning, or in other words, “learning to learn”. If you can be a good meta-learner, you will always stay ahead of the curve in a world where change is the only permanent.
Talking about our MBA program, the first advantage is the fact that being in a university, the MBA students have the opportunity to rub shoulders with a wider spectrum of experts from all contiguous disciplines such as engineering, data science, statistics, design, economics, social sciences, humanities, fine arts, etc. They also get a chance to co-create with learner colleagues from across the generational spectrum pursuing their UG, PG and PhD process. This creates a unique learning culture with multi-generational learners.
Second, our Curriculum, as explained earlier, is our key and fundamental differentiator. Our curriculum is not borrowed from other typical B-schools as it happens with most other MBA programs. Here I want to emphasize the ‘How we teach’ part, or the Pedagogical dimension. We put a lot of emphasis on teaching methods, many of which are developed by our faculty, and hence are very distinct from others. Our MBA program also offers the Global Business Immersion Program about which I have spoken before.
Here I also want to highlight again that our MBA curriculum focuses heavily on developing Entrepreneurial Acumen for the Digital Economy. About 70% of our curriculum is focussed on how business is done (or going to be done) in the new digital world. Digital business models are transforming every sector including Healthcare, BFSI, Retailing, Luxury and Travel, Consumer Goods, Sports, Energy, Automobiles, Aviation, and so on – and our curriculum has a bias toward such 21st century businesses.
Finally, the School of Management and Entrepreneurship is not a stand-alone B-school, but rather it is rooted in the larger Shiv Nadar Institution of Eminence where we have five schools. And that means, we have the benefit of leveraging the experience of world class faculty – not only in the School of Management, but also the other schools in Engineering, Sciences, and Humanities. So, the opportunities to learn are endless and much broader than the scope of standalone B-schools.
Q: You said that Faculty is a distinctive feature of SME at SNU. Can you share more details…
A: Indeed, Faculty is the core factor that distinguishes top management institutions. Research oriented faculty push the boundaries of knowledge that influence practice (and also, vice-versa). They engage with industry as consultants and advisors and independent directors … and bring that experience to bear in their interactions with students to deliver the desired learning goals. The School’s faculty members have been drawn from top institutions in India and across the world, and the School has made significant investments in acquiring the latest business databases, software, educational technology platforms and infrastructure. If you visit our website and browse the faculty pages, you will find that most of our faculty are graduates of some of the top institutes in the world and have taught at IIMs and other leading B-schools prior to joining us. We deliberately keep our teaching load for faculty moderate to attract the best and help them pursue their research career at the cusp of technology and business. The Faculty occupies the centre-stage for us here at SME.
School of Management & Entrepreneurship is distinguished by the fact that it has always had a powerful Advisory Committee composed of distinguished faculty, from University of Chicago’s Booth School of Business, Harvard Business School, The Stern School of Business of New York University, and the top IIMs. Harvard Business School Dean Professor Srikant Datar was on our advisory board until recently. Our current advisory board includes Dr Raghu Sundaram, Dean of NYU Stern School of Business; Dr Pradeep Chintagunta, Chair Professor at University of Chicago’s Booth School of Business, Dr Rishikesha Krishnan, Director, IIM Bangalore; and Mr Manoj Kohli, former MD of Airtel and India Head of Softbank. We also invite top leaders from the industry to our Advisory process to help us stay relevant with the changing contexts of global business. Our curriculum in every program is informed and guided by people of this stature.
Q: Of late quality UG management education is gaining momentum. How is your UG program structured? What lies ahead…
A: Our UG program in management is titled “Bachelor of Management Studies” or BMS. It is a 4-year program, with a strong emphasis on multidisciplinary and experiential learning. In addition to the standard courses on management, our BMS students study various courses (~ 25% of the curriculum) from other schools of the University, which brings in the component of multidisciplinary education. As discussed, one of the highlights of our BMS program is The Venture Laboratory (TVL), which allows students to learn and understand the nuances of business by establishing their own venture. Other experiential learning initiatives that we have in BMS include social sector internship and business sector internship, where students work with social and business enterprises respectively, for a period of 8 weeks each. We also have a very strong UG program in Bachelor of Science in Economics and Finance, which has a quantitative slant.
We are witnessing excellent outcomes in this program. With an acceptance of less than 10%, only the meritorious get enrolled in our programs.
Q: You also lead Academy of Continuing Education at Shiv Nadar University as its Dean. How do you look at Executive Education in India.
A: Excellent quality executive education has great demand in India. And in the field of management education, it is only going to increase. It must be understood, that with changing business environment, management practices also need to change and evolve – especially toward digital and technology. Therefore, in the dynamic business environment that we see today, executives constantly need to update themselves by unlearning the old concepts and learning the new ones. As such, the demand for continuing education programs will rise sharply as we go along.
The Academy of Continuing Education (ACE) was founded with a mission to present best-in-class knowledge, practices and skill development courses to the rapidly expanding ecosystems of learners and leaders. Owing to the dynamic business environment, there is a great demand for good quality continuing education programs across industries at various levels of management. There are very few programs in the country catering to this segment and this is the gap that ACE is trying to bridge. Currently, as part of ACE, we have MBA Online program and a certificate program titled “Certificate Program in Data Science and Analytics for Business”. The response to these programs has been excellent and we had to start multiple cohorts of the programs to enrol all the interested applicants. We also offer programs in Cloud Computing, Digital Transformation, Design Thinking, and more.
Q: How are Placements for MBA and BMS program in last few years?
A: Our BMS and MBA programs offer solid industry placements, for those who seek them. Top recruiters include Bain, American Express, Tata Steel, Hindustan Times, Indian Oil, Phillip Capital, IIFL Securities, HCL Technology, ITC, et al; and new-age companies like Flipkart, Postman, etc. Also, a significant proportion of our BMS students head to top institutions in North America, UK and Europe for higher studies. An interesting facet of our placements is that they are often led by Internships. This model allows both companies and students to know each other and make decisions that are mutually beneficial and sustainable.
Overall, we offer a very favourable ROI to students as we have moderate fees and good placements and outcomes. For example, our median salaries in MBA are Rs ~12 Lakhs; with the highest package offered at Rs ~23 Lakhs.
Q: What are new initiatives taken in last 12 months or so.
A: We have started a new specialization within MBA, focused on analytics titled MBA (Business Analytics). With all functions of management going the digital route, we believe that MBA with a focus on analytics, will be the future of MBA programs across the globe. In ACE, we started a program on ESG, to train senior professionals across industries on various aspects of sustainability. We have also established partnerships with various industry bodies to collaborate on activities of mutual interest.
Q: What are the new initiatives planned for near future…
A: Stay tuned, and you will know soon!
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