The MBA program will certainly provide job-ready candidates who understand the principles of business management in both theory and practice.
The authors of this section have been working in the industry for over 25 years and are currently teaching at IMT Ghaziabad. This combination of actual industry experience and academics puts us at the center of a general debate – does the MBA program create professionals who meet the needs of the industry? Elon Musk recently taunted Pitch when he said “As much as possible, avoid hiring an MBA. MBA programs do not teach people how to build a company. On the other hand, the Harvard Business School Mission says, “We educate leaders who make a difference in the world.”
An iconoclastic leader. An iconic educational institution. Is there a point of similarity?
Peter Drucker equates corporate success with being an effective executive. In his view, some of the best CEOs were effective because they asked what needed to be done and what was right for the enterprise, they made action plans, took responsibility for decision making and communication, focused on opportunities instead of problems, ran. Effective meetings, and thought and said ‘we’ instead of ‘I’. In today’s volatile, uncertain, complex and obscure world (VUCA) these features are all the more important.
Against this background, we come back to the real soul-searching questions – what does the MBA program have to offer the industry? What skills and abilities should the newly merged MBAs learn and bring to the party? Are our MBA programs designed to make Drucker functional executives and equip them with the ability to work in the new, VUCA world? When we evaluate the current MBA program, how do we hire at these levels and if so what should change?
Companies that regularly offer MBAs from B-schools see this process as an important first step in building a long-term leadership pipeline. Acquiring the right talent at the entry-level firm is therefore of paramount importance. What companies are looking for in their MBA recruitment is strong technical skills with the right personality traits and the attitude needed to handle unexpected times.
Running a business requires hundreds of activities in sync, like a world-class orchestra. Sales forecasting, brand promotional planning, customer relationship management, collection of raw and packaging materials, handling receivables, just to name a few, must come together in a never ending cycle that brings products and services to customers when and where they want. . , And the price and cost which creates customer value and satisfaction while being a neat profit for the firm. 24/7
So how do MBA programs rent out these criteria?
In most B-schools, one core course of the year and more specialized elective courses, form a strong technical foundation. Good companies add hands-on exposure to the early years of work, creating a capable front-line manager with the potential for even bigger things in the future. The best MBA programs combine conceptual knowledge of theory and structure with the challenges and pressures of applying in real business situations acquired through case studies, internships, project work and assignments. It forces the student to think through problems with a structured approach that is strong enough for reality but flexible.
While the above is the main theme of the recipe, the secret sauce is actually the tight pressure of tight project deadlines, frequent evaluations, case-study competitions, multiple assignments and submissions, and interacting and competing with highly talented peers. It is these incredible experiences that develop the skills that hold candidates well throughout their careers – adaptability, ability to handle stress, emotional maturity, long lasting relationships, empathy and most importantly, the ability to learn that enables them to survive. , And hopefully, improve in an ever-changing world.
Properly covered, it will withstand a great deal of adverse conditions. This brings us to a point of difference between art and academia. Corporates often question the readiness of new MBAs to work, citing a lack of understanding of the realities of the business world. ‘Very theoretical’ is a general refrain. This is a serious complaint and requires new thinking.
Many B-schools struggle to balance the curriculum between pure academics and corporate reality. Job Ready MBA industry requirements put extreme pressure on both.
In our experience, premium B-schools like IMT Ghaziabad (where we teach) are aware of this dilemma. In an effort to capture this formula properly, for example, IMT Ghaziabad has formed partnerships with multiple companies that bring their executives on campus to co-educate specific courses and subjects. Students first-hand see how the theory works in practice and what managers do to adapt the structure to the heat and dust of the trenches. Expert sessions with art-leading lighting, often drawn from the alumni network, provide a multi-class perspective. The faculty also works on a variety of consulting projects and facilitates MDPs, meeting the skills development and training needs of corporate executives.
We also see predictions of some other adaptations to the standard MBA. While the average age of US MBA is 28 years and 3 to 6 years of work experience, the average age in India is 25 years with similarly less work experience. For example, do freshers have the ability to create a slightly different program that would benefit from greater corporate exposure through longer / more frequent internships? Needless to say, the more active role of industry executives in partnering with B-schools will enhance the real-world base of graduates.
In conclusion, we review our questions raised earlier. The MBA program will certainly provide job-ready candidates who understand the principles of business management in both theory and practice. As educators, we have a responsibility to create efficient executives whose industry can quickly engage in mainstream roles. We are currently the perfect, defined, functional executive of Drucker, and it cannot be a field of improvement. But of course, a new MBA has the skills and knowledge that companies need to build the next generation of their leaders.
We respectfully ask you to distinguish between musk.