Indian MBA losing sheen?

Across the world, there are over 15,673 Business Schools and in India, amongst these are 4000. But which amongst these 4000 are respected and aspired as a ‘brand’ to be associated with? Well, if you chuck off the IIM’s, hardly any.

In the next few years, education experts predict that at least a thousand odd B-schools will close down. And, while we could analyze the cause and effect all we want- the fact remains, the Indian MBA degree is losing its sheen. Today’s students look at three main points while selecting an Institution- the University credibility and accreditation, the course contents and relevance to modern times and most importantly, the companies that recruit from these Institutes. Indians today don’t mind paying more for studying abroad if that assures them a better career.

The concepts taught in India’s institutes have little practical relevance to the need of today’s times. The last set of big concepts from academics were those management gurus such as Peter Drucker, Jerome McCarthy and Igor Ansoff. These concepts are at least fifty years old, if not more. That says it all, doesn’t it? Unless our course contents are updated, made relevant to the market; Indian degrees are going to be seen as nothing but a mere piece of paper which will make us ‘educated’ but not ‘learned.’