In the last decade and a half, management education in India has become a fad. Earlier, management education was pursued only by individuals, who had ambitions of being administrators, leaders for organization. Not many people would aim to pursue management education offered at few elite colleges, universities. Individuals who obtained management degree from any of the select business schools had high regard.
The early 1990s brought an education revolution in India. This could also be related to the Internet and the Information Technology boom. The need for skilled people having engineering, technology background spurred the growth of educational institutes across major cities in India. The involvement of big business houses of the country in this sector spurred growth manifold. Not only engineering and technology, the revolution led to cropping up of educational institutes for business studies, applied sciences, fine arts, hospitality and more.
The use of IT systems in almost all industries raised the problem of managing personnel and information. The availability of technology personnel with knowledge of English language made India an attractive talent centre for large corporations around the world. The period saw an exodus of technology professionals to Silicon Valley in the United States, to develop IT systems for financial services, hospitality, heath care and practically all other industries.
The economic liberalization in India in the 1990s attracted foreign and private investments. This led to set-up of new industries in large sectors such as automobiles, consumer products which includes electronics, fashion and many more. The size, volume of these industries, businesses needed professionals to manage inventory, information, services, personnel at different levels. The large investments from private and foreign players created large number of jobs.
Management education that took off at the time, in India did not have a strong base. It was mostly an initiative of big business houses, which took the opportunity to invest in the growing education sector. Management institutes cropped up in dozens in nearly all major cities in the country. The design of the curriculum, faculty, and selection criteria did not keep any standards; hence it only resulted in churning out graduates that were not suitable to be managers, leaders for organizations. To add to the woe, graduates with a degree in management were offered jobs for door to door selling of services, goods that could not be related to management education.
The gap was understood soon. The educational institutes, which offered good management education, did not let the credibility drop further. Major initiatives were undertaken to revise the curriculum, experienced faculty, professionals across industries were engaged, selection criteria of students was made stringent for only the best to get admission for the program. Another distinguishing feature of the program, is workshops, talk from industry experts, industry visits, live-industry experience all of which makes the program suitable for industry needs.
Individuals that graduate from a business school of repute, with good scores which includes theory, project experience have no looking back. The top corporations across industries recruit the crème-de-la-crème with attractive compensation to take management positions. The academic program, know how of industry practices, co-curricular activities such as extempore, dramatics, street shows, use of technology, prepares individuals for large number of skills such as analytical ability, problem solving, leadership, communication and many more.
Such individuals, are by and large, trained in most ways to handle industry problems. To get started with any organization, graduates from reputed business schools in Pune are well versed with most business practices, etiquettes that are needed to handle multiple roles in large organizations.