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Indian Management Education needs a 'Rethink': MBAUniverse.com

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New Delhi, August 19, 2010

MBAuniverse.com, in association with leading business schools and management education fraternity, today organized the first ever Indian Management Conclave - 2010. The conclave was centered on the theme-It's time to "Rethink and Reboot the Indian management education sector." The conclave was inaugurated by the Hon'ble Minister of State for Corporate Affairs Shri Salman Khurshid. The occasion was also graced by Dr. Bakul Dholakia, former director of IIM-Ahmedabad, directors of IIM-Indore, IIM-Kozhikode, representatives from leading B-schools, corporates, knowledge companies and delegates of education institutes from around the world. IIM directors, educationists, B-school deans, international faculty and education companies converged to debate the state of 'Indian Management Education'. Indian Management Conclave and MBAUniverse.com will play a vital role in this discovery and transformation."

Speaking on this occasion, Shri Khurshid said, "I am glad that the management education fraternity has felt the need to relook at the MBA education in our country. And it is important that we attempt to enrich management education through forums such as the Indian Management Conclave." He also added that "world-class management education is needed in India to attain the Indian Vision 2020, India as global super power".

Experts from MBAuniverse.com suggested that the Indian management education needs a major overhaul if the country is to produce effective manager and leaders for tomorrow. In the current scenario regulatory changes, growth in the Indian economy, a culture of entrepreneurship and the impact of digital technology in testing and learning has created unprecedented opportunities. Yet, the sector also faces serious challenges due to unmet stakeholder demands.

"Indian management education is in the midst of massive transformation. There has been a boom in the last decade, but in the last two years, there has been a massive churn. Many institutes are shutting shop due to unmet stakeholder demands. Recruiters are unhappy with the average quality of MBA output," said Mr. Amit Agnihotri, Chairman, MBAUniverse.com. He added, "However, there are many positive trends too: India is emerging as the hub of global management practices and innovation. Corporates are much more serious about their talent management, and technology is ready to transform the sector. I, therefore, believe that the Indian MBA education can be a global brand, which attracts the best students, faculty and recruiters from the world."

While the MBA sector has experienced significant growth in the last decade, the level of dissatisfaction amongst both corporates and students is on the rise. There are, of course, many high quality management education institutions in India, but institutions at the bottom of the management.

Education pyramids are often unable to meet quality standards and are characterized by student churn, weak infrastructure and inexperienced faculty. Effective and Efficient Management Education is probably where the answer lies – and hence the need to Reboot and Rethink on the Indian Management Education.

On the occasion, MBAUniverse.com released the Indian B-school rankings 2010, which were conducted under the Chairmanship of Dr. Bakul Dholakia, former director of IIM, Ahmedabad and Advisor, Adani Group. The rankings will be published on MBAUniverse.com.

"As a participant and keen observer of Indian MBA education sector for the last four decades, I feel that MBA education sector in India is at the cusp of a major transformation. Today, Indian B-schools are facing formidable challenges, but they have great opportunities as well. MBAUniverse.com MBA Rankings will study how our leading institutes are responding to the rapidly changing scenario of Business Education in India and emerging as winners. I am sure this unique ranking exercise will help all stakeholders in not only recognizing the leaders, but also in making well informed decisions," said Dr. Dholakia.

The Indian Management Conclave saw participation from some of the best known education players from around the world viz. GMAC (owners of GMAT), Harvard Business Publishing, Prometric, NIIT, Prometric, Future Group, and Educomp among others.

The eminent panel of speakers discussed various aspects of management education – 'global MBA trends'; 'challenges facing Indian MBA sector' and 'future of MBA' in India and globally. The two-day conclave shall conclude on Saturday, August 14.

For further information, please contact:

MBAUniverse.com

Amit Agnihotri

Mobile: +919810206655

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