As the newly appointed president of AIMA, what are the new initiatives that will be introduced to help aspiring management students in the changing market dynamics?
As the apex body of India’s management fraternity and the voice of India’s leaders and managers, the All India Management Association (AIMA) disseminates the latest management concepts and skills to both executives and students. I want AIMA to continue to embrace and integrate new technologies in education and develop new education programmes that help students meet the industry’s changing needs. AIMA is already using online instruction, collaboration and testing tools, and we are preparing to use machine intelligence and simulated reality technologies more extensively, both in the content and the delivery of its courses. AIMA will also introduce courses on applying blockchain and Internet-of-Things (IoT) in business. We have already introduced new-age courses that include Digital Transformation, Sustainability Management, Corporate Social Responsibility Management, and Digital Business Management and more new courses are in the pipeline.
How have the trends in management education evolved in India and globally? In what way, are the changing global demands, and geopolitical conflicts influencing the international market?
The traditional approach to management education was aimed at imparting theoretical knowledge, but the focus has shifted to a practical and experiential learning model. The emphasis on case studies, industry collaborations, and real-world applications has become more pronounced. The integration of technology and digital tools into the curriculum is fostering a tech-savvy generation of business leaders. There has also been an increasing emphasis on interdisciplinary learning, global perspective, and soft skills. The rise of online and hybrid learning models has further democratised access to management education. The evolution of management education, both in India and globally, reflects a commitment to staying relevant and responsive to rapidly changing industry needs and equipping executives to navigate the complexities of the contemporary business environment.
The shifting dynamics of global demand for management know-how and geopolitical conflicts are reshaping the international market for management education. There is a growing need for management students to acquire knowledge about new technologies, social-environmental priorities, and international business laws and regulations. Increasingly, student choices are getting aligned with changing international relations and trade orientation, and the resulting increase and decrease in career opportunities and social acceptance in the country of study. For example, India has become the largest supplier of new students to the US higher education system, overtaking China.
Numerous engineers are taking up managerial roles after completing their MBA. How are techno managers influencing the market that is disrupted due to AI, ML, and IoT?
The convergence of engineering acumen with managerial expertise has become increasingly prevalent, partly because of data aptitude and partly because of the increasing centrality of technology in the new economy. The techno managers are more ready to lead the induction of AI, ML, IoT and such technologies in the business. The engineer managers bring a better understanding of emerging technologies to enable new business processes and encourage technology-enabled innovations. They are more adept at leveraging disruptive technologies to gain a competitive edge. The rise of techno-managers represents a dynamic shift in leadership paradigms, as they play a crucial role in steering businesses through the transformative waves of AI, ML, and IoT.
There is a strong focus on sustainability and renewable energy. Do we need the new curriculum designed as per the changing demand for a sustainable future?
As the global concern about climate change escalates, managers need to be equipped with knowledge of the interplay between economic activity, the environment, and sustainability regulations. Energy is foundational to the economy and the excessive use of fossil energy is the biggest cause of climate change. The Management curriculum needs to include sustainability sensitisation and management techniques. Management courses need to offer knowhow of renewable energy technologies, environmental stewardship, and sustainable business practices. By updating educational programmes to reflect the pressing need for sustainable solutions, we can ensure that the next generation of professionals is well-equipped to contribute meaningfully to a more sustainable and resilient future.
Indian students and academia have realised the importance of internships. How can Indian corporations support young management graduates in expanding internship opportunities?
Internship plays a crucial role in bridging the gap between academic learning and its practical application. While academia is always keen on giving students exposure to real-world work and business environments, Indian companies largely remain conservative in their approach to internships. Some see interns as a source of cheap or free temporary workforce and do not fully use internships as an avenue for future hiring. Some others find it difficult to convince their executives to involve interns in business processes or share any meaningful information about the company’s operations. However, some companies want the internship to become a source of talent and they are forging relationships with educational institutions to give students exposure to their technologies and products. To improve the general scenario, companies could proactively establish structured internship programmes and align curricula with their emerging needs. Companies can also use internships to source improvements and innovations, and add to their intellectual capital. Mentorship during the internship can help both the student and the prospective employer.