THRUST AREAS IN MANAGEMENT
 EDUCATION AND NEW CHALLENGES
 

i)Faculty Development

Faculty being by far the most crucial factor in the Management Education process, it is a stupendous task to meet the faculty needs of the rapidly expanding management institution system. There is an acute shortage of high quality management teachers, particularly, in functional areas like Marketing and Finance and also integrative subject like Strategic Management. The present faculty also need to be adequately trained in the area of current and emerging trends. Established institutions, including do not take adequate: interest in training management teachers in view of their need to generate additional

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revenues for attaining self-sufficiency. They are also facing a flight of talent to some of the new institutions, due to lure of attractive locations and even more attractive compensation packages. It is in fact posing a real. danger that the established institutions may be weakened in the process, at least in the short term.

There is, therefore, an urgent need to plan a crash programme to train Management teachers at selected management institutions and, also to limit the expansion of the system to what is sustainable without sacrificing the faculty quality. Faculty resource should be further strengthened by industry providing professinal managers; from different disciplines with successful track records as Visiting Faculty on lien or on deputation basis.

ii. Development of Teaching Material and Case studies

Very few institutions in the country have been able to develop adequate teaching material including cases in terms. of Indian ethos in management. There cotinues to be a very heavy reliance on foreign text books and cases.

We need to nurture wide-spread management research including case research and publications indigeneously.

iii. Post-Experience and Distance Learning Programmes

Of late some institutions like IGNOU, AIMA offer distance learning programmes in Management Education for employed graduates. Such avenues should be strengthened, particularly with the opportunities provided by information technology with respect to remote teaching.

Similarly, there are Management institutions which offer long term part-time evening. programme for working executives leading to Post Graduate Diploma/MBA. avenues for post-experience training should be extended and upgraded to Cater to those who cannot afford full time Management Education.

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iv. Institution-Industry linkage

Management institutions should have linkage with Business and Industry to understand their requirements and reorient teaching, training, consultancy and research activities to meet the challenges of globalisation and liberalisation. There should be a formal forum for frequent interaction of Management institution and Management Associations, Chambers of Commerce & Industry and other professional bodies for upgradation of Management Education.

v) Restructuring of the existing P. G. Management Programmes

The existing P.G. programmes in management are mainly large industry oriented to meet the domestic needs of the managerial manpower largely of the large manufacturing sector.

The demand for managers for international business, information technology, medium and small scale industrial sector and for the growing infrastructural and service sectors is not being met adequately. The MBA level programme should therefore be restructured to take care of:

- Integration of Information Technology and Management for developing globally competitive Indian organisations and also for capturing a significant chunk of the huge global market in Information Technology (IT).

-International Business - with respect to trade, finance, marketing, sourcing and creating a mid-set for developing Indian Multi-nationals.

- Management of Infrastructure - with respect to Water Resources,Transportation, Energy, Communication, Education, Health-Care etc., for a better quality of life.

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- Management of Environment for pollution free sustainable growth.

- Management of Agriculture and Agro-Industries - where nearly 60% of the country's workforce are employed.

- Management of Service Sector - like tourism, hotel services, financial and banking services, software services, performing arts etc.

- Entrepreneurial Management - for development of vibrant small scale sector and innovation in management.

- Strategic Management - to improve competitiveness including re-engineering, mergers, acquisitions and divestments.

- Technology Management - including Technology Transfer, Research and Development, TQM and Productivity Upgradation.