The cost of Business Education should be less than the cost of the MBA application!
Decades ago, soon after my graduation, I was crazy to do MBA but I could not
do so for many reasons, instead I went to work. My friends enrolled into MBA
after tough entrance exam and other selection procedures. After their MBA
(with high grades), they attended many interviews, but almost all of them
took the job of non-MBAs, doing some insignificant work! This was quizzical
to me at that point in time.
Let us come back to the present day, wherein the situation hasn’t changed
much, especially in cases of MBA courses other than those offered by top tier
business schools. So, where is the exact problem? Is it before MBA, after MBA
or during MBA? I kept analysing these until I got some clarity on the situation
– the problems and the probable solutions.
Reading about business was my hobby, for more than 25 years. My hobby
became my passion and that, along with my perception of the current scenario
and my entrepreneurial experience, has led me to write this management
book that will suit all stages of a management profession -‘before MBA’, ‘after
MBA’ and ‘during MBA’.
This book is based on my dreams to deliver a solution for quality MBA.
My first set of dreams: ‘Before MBA’
The syllabus for entrance test should be more of case study based approach
rather than mathematics and quantitative analysis. Screening should be based on the ability to integrate right and left brain, right from the MBA entrance level.
During group discussions, priority should be given to the students who
speak more logically and about their brand knowledge, than their command
In some personal interviews, the candidates are expected to answer in
nanoseconds (as if they are warplane pilots ejecting from the cockpit before
it crashes!). Speed is certainly an important factor in the corporate world but
not essential during MBA admissions.
My second set of dreams: ‘During MBA’
During the course, it is disappointing to see that the students are
still focussing on the text books covering the syllabus and notes from their
professors. Our teaching system and methods should be changed drastically.
First of all, the professors should stop dictating notes in the management
class and they should bring business dailies or magazines to the class to
regularly discuss about the current management scenario.
Though many professors are intelligent, they are forced to follow the
system. Initiatives such as intercollegiate quiz events or seminars should be
conducted exclusively for the professors too, to enrich their knowledge in the
current industry trends. Best faculties could be recognised and honoured
on such occasions. Entrepreneurs and business leaders should be frequently
invited as Guest speakers.
Films based on business biographies and leadership strategies should be
frequently screened and debated.
My third set of dreams – ‘After MBA’
Many MBA graduates never continue to read about the evolving Businesses.
The last time they would have ‘read’ about business or management, would
have been those few minutes before their last exam, near the exam hall! This
education system is short-memory based and that’s the reason it should be
Employers should give priority to MBA graduates who are
knowledgeable and updated with the latest market trends.
Whether the MBA graduate is an employee or an entrepreneur, one should
be willing to be a lifelong student.