The importance of management education that is essential for today’s organizations and businesses should play a key role in equipping our future managers with emerging trends in management skills to meet the challenges of a dynamic business world.
Management education is seen as elite in India. Young women and men are not fascinated with management education because they need some education, experience and exposure to create something wonderful and therefore helpful to society but they are usually inspired by the positive results related to management education.
21st Century India has undergone major changes in its educational structure. The process of liberalization, privatization and globalization has not only replaced the conventional approach with a more efficient professional approach; But the industry has introduced new age courses in line with the demand which has more economic value at present. With this increasing time management education has got a new dimension.
“The market and fundamental change that needs to happen is about the change in the metric we are using. And the change that needs to happen in a metric here is that we have to go beyond the metric of GDP, a metric to maximize profits. Where we really say how we affect society. That should be what I am doing, “said Dr. Amit Kapoor, Chair, Institute for Competitiveness, Visiting Scholar and Lecturer, Stanford University, underlining the future of management education.
We need to reduce our reliance on foreign strategy and literature and build management education based on practical experience.
Indian policy. Management education should be based on value and not on money.