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Welcome! Management Education in Emerging Markets: Challenges and Opportunities Dr. Satyendra Singh Director, Centre for Emerging Markets Professor, Marketing and International Business Editor, International Journal of Business and Emerging Markets CANADA
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The Truth is MBA is in ↑ demand worldwide Worldwide 500,000 MBAs
2 The Truth is MBA is in ↑ demand worldwide Worldwide 500,000 MBAs North America 150,000 MBAs More so, in emerging markets Colonial strategy deny education control Globalization access to education Young, ambitious MBA=↑QOL Demand > supply Are we Market Orientated (MO)?
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↓ MO because Creates ↓ value selection value (GMAT/GPA)
3 ↓ MO because Creates ↓ value selection value (GMAT/GPA) Selection performance Not fully trained = short-term business training * Gap b/w theory of knowledge and theory-in-use Lacks tacit capabilities Art of managing, taking and sharing responsibilities ↓ Impact of MBA on business performance ↓ Global mindset Does MBA have ↓ value?
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4 If MBA has ↓ value Efficient market should correct the situation itself by not hiring MBAs by not paying premium salary to MBAs And this is what happening in India now MBAs are underpaid ↓ ROI ↓ Salary is a symptom So what is student’s perspective?
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Student’s Perspective – US/UK/EU
5 Student’s Perspective – US/UK/EU Ranking of the school (Economist, Financial Times) Accreditations (AACSB, EQUIS, AMBA …) Pre- and post-MBA salary (Financial Times) Diversity in curriculum, faculty and student International experience Flexible offerings Co-op programs But in Emerging Markets (EM)
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Student’s Perspective – EM
6 Student’s Perspective – EM Job placement and Salary MBA schools glorified placement agencies Jobs for MBA fees This is a major Challenge For both Students, Deans/Directors What is director’s perspective?
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Director’s Perspective
7 Director’s Perspective Job placement 100% No matter where Growth students and programs Demand > Supply MBA is pre-requisite for jobs Media attention Foreign collaboration 20 foreign U! Grand building +100 acre land (vs. 40 acre HBS) Foreign language French but not English! What do we do?
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We Need to Add Value Governments/Agencies Capability Building
8 We Need to Add Value Governments/Agencies Capability Building Student Learning Faculty Development Research Culture Placement Performance We need to be market oriented
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Challenge—Occupational Learning
9 Challenge—Occupational Learning Present pedagogy is Cognitive (classroom) Degree Job Livelihood Learn Hard-work based Pressure cooker approach IIMA , 6-month course, 3 term, 30 courses Armed Forces Specialization But no related course Type of questions asked Completion focus Focus is on placement
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Opportunity—Transformational Learning
10 Opportunity—Transformational Learning Should be Developmental (Experimental) Life long learning evolving life Strategic thinking be different and add value Better ability to solve problem Transforming my own way of doing thing Best possible knowledge Real knowledge seekers Self actualization Right candidates should be selected
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Challenge—Faculty Qualified faculty By choice Post retirement job
11 Challenge—Faculty Qualified faculty Qualified but cannot teach effectively By choice Easy to teach Easy to get PhD online, work experience! Post retirement job Teaching vs. talking in classroom Like case study No need to teach theory, or to conduct research Overall, poorly equipped teach!
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Opportunity—Faculty Focus should be Educated Faculty
12 Opportunity—Faculty Focus should be Educated Faculty More than academic faculty Research-informed faculty Balance between theory and practice Creative Up-to-date Innovative Outcome-based learning
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Challenge—Research Faculty do not appear to publish
13 Challenge—Research Faculty do not appear to publish World-class cases, journal articles Even in media outlet At least be opinion leader Lack of well equipped library, databases…?? Lack of research training Do not see value in research As such little or no insight from research
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Opportunity—Research
14 Opportunity—Research Focus on Genuine international collaboration Beyond student exchange, study abroad… Cross-learning should take place Long-term relations IIMA—HBS, IIMC-MIT, Tsinghua—HBS/Sloan IIMA 20 years Participated HBS’s ITP (International Teachers Program) Bring skills inside institutions Mentorship, give me feedback Practical, long-term, sustainable collaboration
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Governments and Agency
15 Governments and Agency Quality assurance Government level good if effective AICTE (All India Council of Tech. Education) UGC (University Grant Commission) Institutional level vision linked to Quality AACSB (Association to Advance Collegiate Schools of Business) EQUIS (European Quality Improvement System) Goal is to be market oriented, but how?
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Strategy: Capability vs. Placement
16 Strategy: Capability vs. Placement II I HI MO Schools HI MI MO Schools Capability LO MO Schools Majority MI MO Schools LO IV III LO Placement HI Placement: % of total students placed Capability: Student learning, Faculty development, Research culture LO=Low, MI=Medium, HI=High, MO=Market Orientation
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Questions?
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