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Purpose of Management Education: Need for New Directions

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Purpose of Management Education: Need for new directions
Abstract
Author Prof (Dr) S.M.Harikrishnan,
Associate Professor, Chinmaya Institute of Technology, Kannur.

In the present competitive business environment, organisations face complex challenges every day, and more often than not those challenges centre on execution limitations of key personnel. These necessitate us to look back and answer the fundamental question: What is the purpose of Management Education? In India, business schools are growing at a high pace witnessing an exponential growth. Even today, Management education is the most ‘sought after’ course among students. Huge investments are happening, mostly from private sector. Apart from traditional programs – Finance, HR, Marketing, Operations, specialisations are offered in new functional areas like Information Technology, International Business, Supply Chain Management, Retail Management, Aircraft Management, Air Port Management Food Management, Textile Management etc. However, the quality of education has deteriorated in a huge way – both with Institutes and student graduates. Even though these institutes offer modern specialised courses, only few provide 100 % placements. The real issues lies with the quality of the Institutes, Corporate Governance of the Institute, Quality of Students and to a big extend the rules and regulations of Government / Authorities.
This paper explores the present situation of management education in India and tries to answer the following questions there by seek to find new directions. 1. Are we able to develop leaders through the present system of Management education? 2. Whether our students are best-equipped to face the increasing challenges of business on a global scale? 3. Management Graduates contribution to our economy in terms of moving to entrepreneurships? 4. Quality of output that we

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