B-schools have to inculcate the mindset in the students that from now on, they are the movers and shakers, they are the breadwinners and they are responsible for the upkeep of their parents not the other way round as it was in the past. Above all, the individual must realize that here is a level playing field where lies the great opportunity to excel, to be the winner and to achieve corporate heights that most people only dream about but never achieve. Simply stated, industry provides careers not just jobs.
Because the milieu, in which parents worked or still work, is far removed from that in which these students will have to work, the situation just may not be relevant anymore. The tools of the game have changed drastically and will keep changing at an even faster rate as time passes. MBA education thus has to teach these students to keep re-inventing themselves. It has to give them the latest tools and weapons to deal with, resolve and overcome ever new situation. More than this, it has to inculcate in them the capacity to anticipate situations so that they can be dealt with and overcome before they actually occur. The dictum fore-warned is fore-armed was never more true than in today’s fast changing world.
Once an ancient Chinese strategist said Rules of War never change – only weapons change. Thus, be it Alexander defeating Porus in 328 BC, Babur defeating Ibrahim Lodhi in 1526 AD or Robert Clive defeating Nawab Sirajuddaukla at Plassey in 1757 AD the rules were the same, only weapons and technology differed. While the above warriors fought to rule the roost for territory and booty today’s corporate warriors fight for market share and market domination.
The MBA institutes must have efficient faculty who have played this game before (and won) but where to find them? Thus industry academia collaboration is the need of the hour. Good B schools try to achieve this by inviting industry veterans for interface with the students on a regular basis. They must be aware of the law of the land (legislation tools and weapons, place promotion, price, packaging) be able to change belief the target market (product market stance) and so on. The corporate stalwarts being the fish of the water have the capability to effectively transmit this knowledge the students and the capacity to inspire them to learn, adopt and adapt in order to achieve desired goals not withstanding the boom and gloom.
Here is where the real challenge erupts. No management institute can install all the capacities to all the students. If an institute provides 50% of the competencies through various forms of grooming the rest of the 50% will depend on the individuals themselves. To make a miracle in two years is a utopian dream. The MBA aspirants should question themselves as to why a student from the same class with the same facilities in the same specialization and groomed in the same environment gets into a top class company with excellent compensation whereas others get lesser packages in the campus placement. Therefore, a lot will depend no the individual. And if they work hard systematically and are determined, they can surely be the winners. More than the degree what plays the crucial role is discipline dedication and determination.
Problems are opportunities: Anyone can be a winner notwithstanding where he or she studied. The world is overcoming the recession and India too is ahead in the economic growth. Obviously, the job market is expected to be very good and very soon. Where will they go for finding the managerial manpower? The biggest democracy of the world the greatest industrial growth will definitely need more and more MBAs. Therefore, obviously post graduation in management is the right choice.
All said and done we are going through exciting times. The fact remains that geniuses are made not born. Nothing is impossible and it is the duty of the B- schools to develop and nurture these competencies. To do that a lot of learning and unlearning exercises need to be gone through which may be painful at times. The dictum: no pain no gain not only applies it is paramount.