Innovations in Management Education for 2020

T. V. Rao
Chairman, TVRLS and Adjunct Professor, IIMA

Management education needs to rethink, redesign and reposition itself and its delivery systems considering the changes in the changes in the global and local scenario, the nature of students taking up management courses (Gen Y, Z and Z+), changing nature of organizations, business processes, technology and other factors. Management education should move from classroom to the field and from theory to theory guided practice and perhaps from a concentrated one or two year programs to spread out programs ranging over longer periods. Such changes have taken place in Doctoral programs already. This paper intends to present a number of thoughts which require somewhat out of the box approach on the part of Universities, Ministry of HRD and various Sate Governments to implement.

Management Profession and Professional Management
Professional management is well accepted and professionally trained managers are in demand while pprofessional management ahs has become well accepted qualification for employment by most modern organizations. However whether management has come of age and acquired the stature of a profession is always a question. It has been subjected to debate recently by a few articles that prepared in the west. Management as a profession has still not matured.

In my view the most important factors that provides the contextual significance to Management Education is the issues raised by Harvard Professors Rakesh Khurana and Nitin Nohria.

The following four characteristics of a profession as applied to management profession by Nitin Nohria and Rakesh Khurana (http://hbswk.hbs.edu/item/4650.html)

  1. a common body of knowledge resting on a well-developed, widely accepted theoretical base;
  2. a system for certifying that individuals possess such knowledge before being licensed or otherwise allowed to practice;
  3. a commitment to use specialized knowledge for the public good, and a renunciation of the goal of profit maximization, in return for professional autonomy and monopoly power;
  4. a code of ethics, with provisions for monitoring individual compliance with the code and a system of sanctions for enforcing it.
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