An Exclusive Interview with A.M Khannan, Director, Admissions and Financial Aid, Indian School of Business (ISB)
Scores of Management colleges are functioning in the state and most of them lack standards? How does this effect on Management Education?
It does not matter how many colleges we have, but what matters is how many students are being employed from these colleges. We find very less colleges meeting best standards in terms of Faculty. Top colleges in the country get their name and fame due to best faculty available there. Unless we provide the best faculty, there shall be no improvement in management studies that meets industry needs. Growing colleges may raise quantity but not quality which comes only from application oriented education and on field links with Industry.
What is the main purpose of Management Education?
The main purpose of Management Education is to create human resources and growth strategies for business. Functional leadership is a necessity for business to sustain in these emerging markets. Specialists in domains like Marketing, Production and Finance are born out of Management Education.
What are the inherent qualities of a Business leader?
The ability to comprehend complex situations, the ability to understand and apply specialized knowledge or expertise, understanding the need for, and potential market demand, reacting in an effective manner to shifting circumstances in your business environment, optimum utilization of resources for profit maximization are inherent qualities of Business leaders. ISB has a holistic approach through curriculum and practicals to imbibe Business leadership in the student.
Students spend lakhs of rupees on completing MBA but most of them don’t find jobs. Why is this situation?
The sole responsibility for this situation lies only on the student who completes his/her MBA in a substandard college lacking best faculty and industry link-up. Even if one finds a job in a company, cannot become business leaders unless they have foresight on future challenges and strategies.
Colleges are collecting exorbitant fees for Engineering, MBA and other professional courses. Where does this lead?
To my opinion, this is a good trend. If there are insufficient funds, Colleges lack basic amenities and produce low standard learning practices. Best faculty only comes to you when they are paid handsome. High fees act as an input to determine quality education.
Should there be any reforms in Management Education?
Present curriculum is good and relevant to industry needs. However, main problem now is to create best faculty.
Every year lakhs of Management graduates pass out but not many of them are becoming entrepreneurs?
This is true to an extent. A lot of them have started their own business. For instance, ISB pass outs have been successful in establishing ventures in Pharma, IT, Online Trading, Services etc. The seniors and alumni of ISB are helping youngsters financially in setting up ventures. Even ISB has special budget for financial help to its students.
Which specialisations are in demand for MBA?
Traditional and everlasting specializations are Operations, Marketing, Finance and HR. Relatively new segments like Manufacturing, Healthcare, Public Policy and Management, Information Technology are promising career options.
How should MBA Students plan to have a good career prospects?
Management skills have to be enhanced regularly and ready for action should be the attitude. To build a long career of nearly 40 years, updating skills and adapting to the changing market environment are crucial.
How is the learning experience in ISB?
Case study is the basic aspect of study in ISB. Case study transfers theory learning into application oriented one with real life situations. There are no internships but student has to work in for at least three months in companies offering campus placements. Leadership development programs, Interpersonal skills, Skills Building work shops, working effective in difficult times are some learning features of ISB to build future business leaders.
Around 65% of students in ISB are of engineering background… Any particular reason for it?
Not even ISB, IIMs also have the same proportion of students of Engineering Background. With engineering skills, one can grow in his career to a maximum level where technical skills play the major role. However, by doing MBA, one can even become the CEO of a company. Therefore, without management skills an engineer cannot get varied roles and this have prompted Engineers to take MBA to improve their chances in their career.
How is the admission process and placement scenario in ISB?
GMAT, Academic score, working experience, Interviews, Personal Intention are various aspects considered at the time of admission. Every year around 350 National and International companies conduct placements at our campus.
What can be the basic difference between ISB and IIM?
Mainly a candidate need at least two years of work experience to join in ISB where as CAT score is sufficient for IIMs. We believe that an experienced person learns faster.
What is your advice for students willing to take MBA as a career option?
MBA is always a promising career option but student must have a clarity on why he/her has chosen MBA and continuously strive to achieve his/her predetermined objective. Most importantly, student should not compromise on selecting the best college.
What is the future of management field?
There is phenomenal increase in national and international trade and new companies are emerging in Lakhs. Management education aim is to develop resources for their growth. Market needs high quality MBAs and CEOs. Therefore, there is a huge scope for Management Education.
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