The importance of an MBA is called into doubt by outdated curriculum and insufficient focus on pedagogical preparation.
Getting an MBA degree is no longer the secret to Indian land jobs, according to the latest India Skill Survey. Just less than half of students (46.59 percent) with an MBA degree have enough skills to be employed, despite being rated as the second most employable course. The mushrooming of MBA courses and colleges is blamed by many experts for a decline in quality and hence employability. As a solution, most of them propose an overall redesign of the curriculum. Varun Mayya, founder and CEO of the digital university Avalon Meta, argues that the MBA degree is no longer important in its conventional form. The MBAs were once useful for the student network they established, but they are now available on the internet. However, in the sense that you can still find a fantastic network there, the IIMs are still high quality. Other MBAs are fizzling out because the institution’s brand is predicated on alumni networks. The college would not draw great students if there wasn’t a great brand. “If your university doesn’t have great students, then you have lost the most critical part of your MBA experience,” he said.
ISBF, affiliated with the University of London’s London School of Economics and Political Science (LSE), emphasized that India also deals with deeper issues, including’ outdated curricula that are not revised often enough, teaching methods are outdated and there is little or no emphasis on pedagogical training and development at Indian institutions, both entirely out of line. Though premium B-schools are often ranked among the top global schools, including older IIMs and ISBs, the problem is beyond the handful and is concentrated among India’s tier-II and tier-III B-schools. Dr Jagdish Seth, Padma Bhushan awardee, explains that one of the main reasons behind this could be that when one thinks of reskilling, it is more often than not associated with STEM-based courses, but management skills and courses have an ever-shrinking shelf life. Also, Seth is ‘Charles H. Professor of Marketing at the Goizueta Business School of Emory University in Kellstadt and Chair of the Jagdish Seth School of Management.
The issue of faculty shortage can be filled with online classes taken by master teachers for students outside their own universities, Dr Jagdish Seth said. We’re going to have to go beyond the borders of campuses and nations. To the digital nation or digital communities, the next biggest thing is going. The courses on these platforms need to be served. The problem of teacher shortages can be solved by online degrees, accreditation systems, and collaboration between universities around the world. It will also give online courses more reputation,” he suggested.