India is the second largest system of higher education, next only to United States. Management education in India is in great demand especially after the change towards liberalization, privatization and globalization policies. There are several challenges that have been overcomed by us, like change in the character and structure of management education, integration of management education with corporate sector, upgradation of curriculum and course content, designing of different programs for executives, maintenance of an efficient and effective regulatory system to check mushrooming, and emphasis on research.
The changing scenario has offered the students more openings, greater self-confidence and out of the box ways to better hones their skills. Management Education has undergone internationalisation with increased focus on international partnerships, international internships, student exchange programs, joint degrees etc. The use of innovative and latest technologies in management teaching is a trend that is also catching up.
As business leaders we have tried to navigate and rebuild economies savaged by the global meltdown, business schools around the world have already given a rethinking leadership and training to the next generation of managers in the midst of unprecedented challenges.
Reinvention, Rethinking & Rebooting of the Indian Management Education has already started taking place. The opportunities India has reinvented that can catapult management education to the forefront of leadership and management training worldwide include:
• The world-class Indian education system, the business education sector, and private enterprise have joined forces as part of a national initiative to mine the rich intellectual capital of India—and harness the palpable entrepreneurial energy of the massive Indian population. Cross-disciplinary educational programs have been developed to foster new levels of innovation and opportunity.
• Leaders of Indian management education have realized that they must look outward as they train business leaders. Business schools in India especially private education groups like AMITY have designed themselves as global Institutions.
• India's corporations have become true partners in building the management education programs by supplying ideas, knowledge, capital, financial investment, and on-site experience for students, enabling them to learn in real-world situations.
• Distributed, online, distance, hybrid learning—India has proactively moved ahead to use technology to reach massive numbers of people over incredible distances and to bring together new ideas, cultures, and thought-leaders like never before.
• We have embraced all forms of management training. The innovation, energy, and desire to serve the market shown by private-sector Indian enterprises are truly breathtaking. To make India an intellectual capital of the world, we have created a dynamic environment, which can encourage superior quality management education colleges and unparalleled efforts are made to breathe life into management education.
Business education is encouraging the importance of socially responsible and honest conduct. Changes in curriculum have been dynamic, covering ethics, governance, sustainability and corporate social responsibility to greater extent and imparted more rigorously. We have created room to stress upon integrative thinking, the importance of a global outlook and the development of responsible leaders. All this will lead to real innovations that might result in development of specialized masters programs on one hand, and new multidisciplinary collaborations on the other.
Blended learning and massive open online courses has become just a couple of methods that have been continuously explored. In management education, quality has been stressed as a necessity and the circumstances have been created as required for total quality management. It is going to be knowledge-driven century resulting a need of greater reform in all education related activities like teaching, learning, evaluating, natural production, curriculum revision, administration production etc. The process of liberalization & globalization has created enormous opportunities & challenges for us & in the era of global competitiveness, we have to exercise utmost care to safeguard India's interest in International arena.
In management education, the paradigm has shifted to quality being a necessity which requires total quality management. Now the educational programming escapes the pitfalls of formalism, structure & standardization; creativity, flexibility, subjectivity, & the informality by replacing the conscripted mode of training & development in management. Faculty members being the most crucial factor in the management education process, they are encouraged, so that they can devote full-time for the organization. Faculty are also involved in the administration role.
India has ventured wide-spread management research including case research & publications indigenously. It has been made necessary for the management institutions to have linkages between business and industry to understand their requirement and reorient teaching, training consultancy and research activities. CBES (Competency based Education System) is the new benchmark.
University system itself has been revamped and restructured in the light of present dynamic environment. Mental equipment's of the educated now is the need that pedagogy should be more learner centred than trainer centred, more case input than lecture method more remainder workshops to envelope deep thinking on the subject; more exposure to realities of industries and work environment, project method are cased to promote discovery learning, more emphasis on simulation, role playing, socio –drama, etc.
Another major paradigm shift is the use of practical aspects of work ethics, like how ethics can be developed, how they can be managed at workplace, how individual make his/her values, what are the contents of ethics which can be utilized to motivate human resources at work place since "organizations are not having ethics only people have."
To sum up, management education systems especially in developing countries are undergoing radical changes in recent times both to ensure quality and social accountability. With globalization, achieving the goal of excellence at various spheres like student performance and competitiveness, faculty qualification and promotion of research had been the toughest challenge, which is in the process of getting overcome. The key to achieve excellence in this context is 'good governance' which is instrumental in specifying the roles and responsibilities of various stakeholders in such a manner that is consistent with achieving quality higher education. Good governance may not be the sufficient condition for achieving high quality but it is certainly a necessary condition to empower any higher education system to thrive towards excellence and deliver the best.