BW Education organised the BW Education B-school Summit & Awards 2023 at Hotel Imperial in New Delhi on December 21. The event saw directors, vice chancellors and deans of leading B-schools of India, gather to engage in discussion on issues that management education currently faces. Globally there have been significant shifts in manufacturing and services, especially in the wake of Covid and technological advances, and the B-school honchos and academics mulled over how to bridge the industry-academia gap. The industry leaders present at the event also shared their expectations from B-schools and B-school passouts.
The chief guest at the event was S Ravi, Founder & Managing Partner, Ravi Rajan & Co LLP, Former Chairman & Director, UTI Trustee Company and Former Chairman, BSE. Bharat Bhasker, Director, IIM Ahmedabad, delivered keynote address on the occasion.
BW Education gave away awards to leading B-school educationists and institutions for their stellar work in management education.
Keynote address by Bharat Bhasker, Director, IIM Ahmedabad
Business schools not only provide wings to career goals but also help you clarify and discover tools and opportunities for a better tomorrow. In his keynote address, Bharat Bhasker, Director, IIM Ahmedabad, enlightened the gathering on the dynamic nature of management institutes.
He emphasised that a business school is a reflection of the dynamic changes occurring in the industrial world. As technology progresses, so must management education, aligning itself with the advancements in these industries, he said. He likened the relationship between industry and academia to a well-choreographed dance where each takes turns leading, ensuring relevance and societal advancement.
Discussing the rapid changes in manufacturing and service sectors, he placed role of management education in this context and stressed the need for a responsive approach. The curriculum must address the global dynamics of platform businesses, outlining actionable steps for internationalisation, he said.
Role of Leadership and Technology
Prominent directors from esteemed institutions shed light on the transformative role of leadership and technology in the realm of education.
Vinita Sahay, Director, IIM Bodh Gaya, emphasised the pivotal role of technology in shaping the growth trajectory of their institution. Despite initial resistance, the integration of technology acted as a catalyst, propelling them to the fourth position among 21 IIMs. This success, achieved without government support, highlights the dynamic and fast-paced approach of IIM Bodh Gaya, she added.
Pawan Kumar Singh, Director, IIM Tiruchirappalli, reflected on the profound impact of Covid, prompting a more extensive embrace of technology. Encouraging his team to overcome hesitancy, Singh stressed the need to view technology adoption as a long-term strategy, urging institutions not to wait for crises to drive innovation.
The other panellists in this session were Dr Himadri Das, Director General, International Management Institute; Bhimaraya Metri, Director, IIM Nagpur; Dharam Paul Goyal, Director, IIM Shillong; and Vivek Suneja, Head and Dean, Faculty of Management Studies (FMS), University of Delhi.
From Classroom to Career
The focus should extend beyond technical training to instil a deep understanding of industry operations. “Whether fresh graduates or those with varying levels of experience, the focus should extend beyond technical training to instilling a deep understanding of industry structures and functions,” said Prof. Arvind Sahay, Director, MDI-Gurgaon. Classroom engagement strategies were at the forefront of his recommendations, advocating for a shift towards more interactive and critical thinking-oriented models, such as the flipped classroom approach. He raised an important question – should B-schools consider students or industry as their customers?
Srinivasan R Iyengar, Director, Jamnalal Bajaj Institute of Management Studies, Mumbai, considered students as customers and the MBA programme as a product. He emphasised the importance of delivering a quality educational experience that maximises the lifetime value and customer acquisition value for students.
Integrating Skill, Industry-Academia, Employability for a Holistic Education
Jaskiran Arora from BML Munjal University emphasised the need to break down educational silos and promote collaborative problem-solving and said, “It’s crucial to weave a common thread among participants, encouraging them to think through problems collaboratively.”
Shrirang Altekar, Director, Symbiosis Institute of Business Management (SIBM), Pune, emphasised the importance of allowing students time to acclimatise before expecting immediate productivity. “Collaboration with industry sharpens our focus on specific aspects, ensuring our students are consistently industry-ready,” he stated.
How B-schools Are Developing Tomorrow’s Change Makers
“”Global, inclusive, and responsible are the values we instil in our students to empower them to become future changemakers, driving positive transformation in India and the world. Now that we are talking about ‘Viksit Bharat’ (developed India) by 2047, it’s important to make sure how our students are going to contribute to this,” Sujata Shahi, Vice Chancellor of IILM University, said.
Pooja Jain, Director of JIMS Rohini, said, “Change is the only constant, and sensitising students to adapt and thrive in this dynamic environment is crucial. We want them to be responsible leaders, contributing to an inclusive and sustainable future. We must ensure that our students are capable of working in the business and economic spheres and are sensitive to these changes”
Changing Expectations of Industry and Business World from B-School Graduates
Deepali Naair, Group Chief Marketing Officer at CK Birla Group, discussed the significant transformation in the professional landscape over the past five to six years. She noted a shift from uniform job structures to unprecedented heterogeneity, particularly in fields like marketing. “The diverse nature of roles in companies, ranging from fast-moving consumer goods (FMCG) to consumer tech giants, presents a challenge for students. The educational institutions often overlook this heterogeneity, leaving students ill-equipped for the diverse job market.”
“The dynamic job landscape, driven by changes in skill sets, continues to generate new kinds of jobs, requiring a constant evolution of skills to keep students job-ready,” said Pradeep Hatgaonkar, Country Head – HR at Hitachi Asterno, India.
Salil Kapoor, CEO of Hindware Home Innovation, highlighted that skills such as communication, adaptability and drive stem from a candidate’s foundational attitude. He advocated for a practical approach to training, preferring hands-on experience in a job for two years over pursuing an MBA.
Chief Guest’s Address
S Ravi, Founder & Managing Partner, Ravi Rajan & Co LLP, Former Chairman & Director, UTI Trustee Company and Former Chairman, BSE, said, “Institutional management, academics and students are three interconnected components stitching a successful B-school in unison”.
He lay emphasis on right mentoring and support and said academics are the fulcrum of any teaching institute as their energy either motivates or demotivates the young talents. “Their role is very important in developing the student’s personality.” He emphasised that family ethics plays an important role in shaping personality of a student. “Family ethics helps the younger mind to detach from some materialistic pleasures that are likely to hinder their academic performance.”
B-School Awards
On the occasion, BW Education gave away awards to B-school directors and eminent academics for their stellar, life-long contribution to the field of management education. Three awards were given away to individuals and two awards in institutional capacity. The awards were:
Best B-school Director:
Dharam Paul Goyal, Director, IIM Shillong
Best B-school – Leadership Excellence:
Pawan Kumar Singh, Director, IIM Tiruchirappalli
Best B-school Professor:
Sangeeta Shah Bharadwaj, Professor, MDI Gurgaon
Best B-School – Return on Investment
Faculty of Management Studies (FMS), University of Delhi
Academic Excellence Award
Siva Sivani Institute of Management (SSIM)
