As per the recent ASSOCHAM study, barring the IIMs and a handful of the top business schools, almost among the 3,700 business schools in the country are producing sub-par graduates.
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) is one of the apex trade associations of India. The organization represents the interests of trade and commerce in India and acts as an interface between issues and initiatives.
The ASSOCHAM report says that only 7 percent of the MBAs that graduate every year are employable. Lack of quality control and infrastructure, low-paying jobs through campus placement and poor faculty are major reasons for the unfolding B-school disaster in India. The constant endeavor to upgrade and re-train faculty in emerging global business perspectives, is practically absent in many B-schools, often making the course content and pedagogy redundant.
Management Education is under severe criticism for its increasing lack of relevance to the new-world-order of business. Graduates are equipped at best to bring about incremental changes and are unable to keep up with the rapidly changing requirements of their organizations. Unfortunately, we cannot get the new kind of graduates from the old kind of management education that was created for the businesses of the previous century.
This new-world-order of business calls for a change in the design of management education
Management education is under severe criticism for its increasing lack of relevance to the contemporary business world. Globally, leading business programs have been rather similarly structured around inductive (generalization from specific instances) and deductive (inferences from logical premises) reasoning; based on the requirements of the business world of the previous century.
The current state of affairs calls for a new structure on the premise of ABDUCTIVE reasoning i.e. ‘what might be’. The key to creating this mindset lies in Design Thinking. Business programs have to shift from producing managers to nurturing Business Design leaders who can visualize and craft new possibilities.
The key to creating this mindset in them lies in Design Thinking. Business Programs have to shift their focus on just producing managers, business leaders to nurturing Business Design Leaders who can visualize and craft new possibilities
Design Thinking is an organized approach to master the art of innovation. It trains the mind to think differently, redefine problems, synthesize insights and develop multiple solutions. Design Thinkers do not view situations as decision making between two available alternatives. Their integrated view allows for the creation of new possibilities by balancing conflicting priorities in non-obvious ways and thereby practicing ethical leadership.
Know more about how organizations leverage Design Thinking to re-innovate themselves.
SOIL Blog Team