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Commoditization of education--study of an emerging culture with special reference to management education.

The growing and increasingly gross commercialization of Indian higher education is an amply documented alarming phenomenon which requires careful sociological investigation

In the current era, entities that choose to accept and even embrace globalization adopt rule sets that make their boundaries more porous to globalizing flows. At a national level related to economic trade, for example, those rule sets would include free-trade agreements, Standardization of currency, laws protecting importers and exporters of goods, economic and legal transparency, rapid processes for business in other countries. Such rule sets aim to ease transnational interactions by turning processes and products into "commodities" with no distinct local features. In a fully globalized economy, all goods would be treated the same, all financial instruments would be equivalent, laws would be the same from nation to nation, and national boundaries would create no obstacles to the pursuit of profit or competitive advantage. Conversely (continuing to use the economic sphere as an example) those who resist globalization establish barriers to the free flow of goods, services, information, and individuals. For example, they create tariffs or other trade barriers; they do not conform their financial instruments to the standards of others; their laws have localized characteristics that can complicate or interfere with transnational interactions; and they limit off shoring of economic activity.

To the extent that nations or entities adopt rule sets that make one nation or entity's practices very much like another, with no localized characteristics to add friction to the globalizing flows, the world can be described as "flat," to use Thomas Friedman's widely quoted description. Higher education, is not immune to the forces of globalization and the issues those forces raise. Institutions offering higher education and their state and private sponsors are constantly in the process of defining rule sets that either facilitate or impede globalization." Most of the nations are adopting rule sets that "flatten" the world of higher education, making it look more alike, while some others are holding on to local policies and practices and formulating new policies to prohibit what they consider to be undesirable localized impacts of globalization. (Nerad & Heggelund 2008: 302-303)

In this paper, I have tried to explain consumerism as a new cultural ideology and its influences on moral and ethical aspects of education. For the purposes of this paper, I have suggested if institutions of higher learning India particularly in the field of management education can cautiously deal with the forces of globalization and duly emphasise on building indigenous style they can successfully develop themselves in tune with "internationalization " while ameliorating the negative consequences of globalization.

Some scholars use the world "internationalization" in reference to educational programming ad institutional practices, suggesting that it is different than "globalization." Internationalization may include proactive implementation of programs and services of international education exchange, international research collaborations, joint degrees, and other institutional behaviors. (Nerad & Heggelund 2008: 303)

The Societal Context: Hegemony of Egocentrism over Philanthropy

In today's consumer society, the commoditization of everyday life made its reconstruction of values orientations and aims to depend on the desires production and consumption. Human values are only evaluated by the market and individuals' capacity of consumption. Therefore individuals only have commercial values that can be calculated and exchanged in the market. Everyone has no alternatives except to be subjected to the requirement that the commercial society pressed on the personal qualities because only in meeting the needs of the commercial market can he or she gain the satisfaction though consumption. Because of the relations between desires and consumption, everyone has become a servant to his consuming desires and concentrates his or her concerns on the desires that developed by the consumer market and on the capacity to get the satisfaction though calculating, competing and owning. Consumer culture drives people to worry about their personal abilities of consumption. Everyday life is a kind of practice to seek consumption targets that can satisfy the desires. As desires belong to private affaires and only can be satisfied individually, the consuming life is located in the pursuit of self-interest and it is competitive between people. Consumers don't care about the common well-being in case his own consumption interests and pleasure relates. They don't concern the universal values but the improvement of their instrumental functions in the consumption. Therefore in the consumer society individuals are atomically egocentric. In the consumer culture people's preferences of desires determine their lives and sensual pleasure turns to be the central end of life. Consumption authorizes pleasure to be the particular forms of meaning and value of life. Commodities of consumption are not only the objects to meet the needs, but there are symbols of social identity and personality. Consuming desires and the tastes define the consumers and rank the social status and personal qualities. People are differentiated by their capacity of consumption and their particular tastes. From the consumption people define their lives and choose their life goals and social roles. Consumer culture forms an illusion that the realization of pleasure is the very kind of self-fulfillment. The meaning of consumption is substituted for the meaning of life, and an individual is evaluated by the owning of consumables. So consumption shapes and refashions the self-identities of people and their self-expectations, and provides them the fundamental values of lives. In the consumer culture, tastes and styles mark and reshape personalities. Everyone shows his or her characteristics by the idea of consumption and the way of consuming. The differences of personalities are produced by the differences of desires and tastes. In this way experiences of people become commercialized and personalities turn into reification, that is, people are characterized by reified pleasures. People have to seek out their differences of characters in the consumption because they aren't able to find who he or she is in the consumer culture. Pleasure satisfaction cannot give a real self-identity other than an illusion of self because materialized pleasure naturally is the same though it has the different degrees. Thus the egocentric pursuit of pleasure is the only thing that an individual feels real. Lives lose its spiritual and moral contour altogether. (Shenghong: 2-3)

Trends in Education in the Era of Globalization

Globalization and free market economy lead to commoditization of knowledge. In a globalized world citizens are recast as consumers. "Consumer" or "customer" is a person who shops for products in the marketplace. As a consumer good education has met the same fate as other material commodities operating in a market economy driven by the profit motive. Consumerism implies that the desires of the customer is supreme in other words 'customer sovereignty' and that the customer should be promptly satisfied When this model is applied to education particularly to higher education, students react predictably; the students develop a typical attitude towards education which implies perceiving education as a product to be bought like an item from the shop or store. Students who consider themselves as customer study only when it is convenient for them (like shopping), expect satisfaction regardless of effort, want knowledge served up in "easily digestible, bit sized chunks' and assume that academic success, is guaranteed." Accordingly institutions of higher learning are transforming themselves to theme parks that offer marketable "academic experience." One of the major changes that has taken place as a result of globalization is that faculty, who were previously situated between capital and labor, are now positioned squarely in the marketplace. Teaching is no more developing a meaningful relation with students; it is mechanical delivery of subjects where values and ethics are to be taught separately not practised. Teaching is less of human interaction more of formalization.

Criticality of Current State of Affairs

Henry A. Giroux in his work Neoliberalism, corporate culture, and the promise of higher education: The University as a Democratic Public Sphere, has aptly defined the criticality of current state of affairs in higher education:

"Civic discourse has given way to the language of commercialization, privatization, and deregulation and that, within the language and images of corporate culture, citizenship is portrayed as an utterly privatized affair that produces self-interested individuals ... corporate culture functions largely to either ignore or cancel out social injustices in the existing social order by overriding the democratic impulses and practices of civil society through an emphasis on the unbridled workings of market relations."

Locus of control shifts from the public domain of politics to an individualized / privatized world of economic cost benefit analysis. The outcome would be a society of self-interested individual consumers working for personal gains.

Market has influenced not only the distribution of education, but the meaning of education itself. Education is treated as an instrument for developing skilled manpower; its intrinsic value makes no sense in a market economy. Educational quality and excellence are narrowly interpreted to fit the globalization paradigm. Delinking of social relevance of education from discussions on quality is a disturbing fall out of marketization. Holistic purpose of education related to social relevance and pedagogic quality of education is allowed to become subservient to market. Liberal education objectives of higher education (free pursuit of knowledge for its own sake s a human excellence) face a threat as their usefulness is judged in market criteria. (Seshadri)

Commoditization of education and judging efficiency and accountability in market criteria has led to change in social perception of higher education. It is ignored that higher education is a public good and not just a private benefit for sponsors or students. The critical and transformatory purpose of education has receded into background . In the altered framework, only that education has value, or 'excellence', which allows the student-consumer to fetch a good market price for the skills she has acquired. Autonomy, excellence, academic freedom, accountability, equity have acquired market connotations under the impact of neo-liberal economic ideology. (Seshadri) The liberal approach to education is all set to give way to pure commercial and utilitarian approach. The responsibility of the teacher is to provide a general or fundamental idea about the topic---an interesting "opening" to the show, rest is to be done by the students themselves. A teacher is a "catalyst" to the "knowledge reaction" not "reaction" by himself or herself. But now a days students are becoming totally dependent on the power point presentation or material provided by the teacher rather than searching, exploring or developing study material on their own. Students' aversion to study text books and reference has become a matter of serious concern. In this way the teachers are getting transformed to "Living Made Easy" of respective subjects.

In a recent seminar titled 'Re-thinking the Guru-New Vistas of 21st Century Teaching" organised by Educational Multimedia Research Centre in collaboration with West Bengal State University held at St. Xavier's College, Kolkata on 9th and 10th July'09 eminent sociologist Prof. Prasanta Roy has rightly addressed this particular issue. According to him, in technology base study, which is all about accumulation and accumulation of information the interactive space between the teacher and learner which infuses the creativity in human mind, gets contracted. Mechanical delivery of knowledge creates a socially insensitive and dehumanized community for whom there is no difference between performance and intellect. The greatest casualty in this technology based learning process is 'cognition'.

Philosophy of education in India presents a sorry spectacle. In all aspects--as a subject of academic study, as a foundational input in teacher education programmes, as an area of scholarly research and as a perspective for intellectual dialogue and debate--it has suffered neglect. That this should be so in a country known for its hoary philosophical traditions is indeed ironic. (Seshadri).

Unlike prostitutes who sell their bodies for money academicians sell their soul to conform to the will of others, be it politicalised system, (Frey 2002: 3) be it the diktats of owner of private college or be it the whims of the person controlling the academic process. Most persons refusing to prostitute themselves and to follow the demands of the system can not afford to successfully survive in academics.

The commercialization of education, carried out by the academic institution specially "coaching institutes", the B Schools striving for financial gain is altering or disrupting the teaching and learning process itself. Their advertising and other commercial activities for profit maximization simply negates all the goods of a nice education chance. The victims are typical Indian middle class, where the parents try to push all their dreams and decisions on their child who get allured by such promotional campaigns and consequently spoils the career of their wards in the last of prosperous career. The country loses one more potential scientist and one more mismatch citizen is born who would always remorse his life that he is not in a job he loves. Thanks to the marketing of education.

At all levels of education in India, starting right from primary schools to B schools market themselves very aggressively mislead and make false promises to students and their parents. From the back curtain of rickshaw to the full page advertisement in leading dailies, sponsoring news in popular TV channels the promotional campaign of business schools is all encompassing!!!!!!

The Debate on Privatization of Higher Education in India

The idea of private education was first put forth by Prof. Edwin G. West. More recently, high profile organizations such as the World Bank and the Orient Global Foundation (with committed funding of US$100 million) have given the idea new impetus.

The theory of privatized education is simple--deregulate education and allow private operation of academic institutions, giving students and their guardians the option to choose where they wish to send children Thus resulting in competition amongst academic institutions for these "consumers" would lead them to improve quality and expand access. But this theory suffers from serious limitations which are mentioned hereunder:

The fallacy of the option to choose: In a private system quality improves through competition. Yet, experience shows that true competition is unlikely here. This is first, and foremost, a matter of supply and demand. Demand for education vastly outstrips supply in India and will do so for the foreseeable future.

Poor information for poorer consumers: This brings forth a final problem--that of evaluating quality. The education "market" is marked by poor information flows and by an inability of a large number of parents, who never went to school themselves, to evaluate objectively what a good school is. This again undermines the assumption that "school choice" exists. The truth is that we simply do not have a single definition of quality. Therefore, it is equally possible that schools that invest more in marketing and outreach--rather than in improving quality--will gain the most.

Unwarranted Consequences: Even if private education were to improve quality, would it improve access and existing inequities in provision--or at least not make them worse? The two points cannot, of course, be delinked because any school's outcome depends largely on the students it admits. Therefore, schools that receive students from academically poorer backgrounds must invest more to achieve the same outcomes.

The emerging logic is in the light of increased need for skilled manpower in the knowledge sector expand the system and accept in spirit, letter and practice the inevitability of private funding of higher education.

in India to advocate privatization and withdrawal of the state from this sector on the ground that only privileged groups have benefited is to confuse symptoms with the cause; elites dominate higher education because of the state's failure to universalize quality elementary and secondary education.

The argument for privatization is at once political and ideological. It is political because it reflects how societies feel about the role of the state in providing "public" services such as healthcare and education. It is ideological because proponents often supplement demands for privatization with terms such as "economic freedom" or "choice" to justify their preference. The latter confuses means with ends. The existence of choice can hardly be viewed as an end in itself in this discussion. Not only does such terminology presume that choice is informed but it is relevant in this debate only if it improves actual educational outcomes, rather than the perceived satisfaction.

One might take the view that "the market will sort itself out". Here a comparison can be made with sub-prime mortgages. In that sector, today's crisis was reached by allowing unscrupulous players to operate and by encouraging respectable banks to buy up risky debt with little regulation. There is a similar mentality in international higher education including India. In this largely unregulated market, some sellers are prestigious universities hoping to build links overseas, recruit top students to their home campuses and strengthen their brand abroad. But many more are sub-prime institutions: sleazy recruiters, degree packagers, low-end private institutions seeking to stave off bankruptcy through the export market and even a few respectable universities forced by government funding cutbacks to raise cash elsewhere. Buyers such as students even institutions in developing countries like India, are similarly unregulated, sometimes ill-informed and often naive. Most tragically, students buy services without much information or understanding. (Altbach).

The debate on privatization of higher education focusing on the balance between quality and equity can not reach to a meaningful conclusion unless we decide our national priorities--either to be a thoroughbred meritocracy or to offer equality of opportunity to the majority of our people.

Management Education in India in the Era of Globalisation

The Fact Sheet

In the Post 1990s India has become fast growing economy. Under the influence of globalization India undergone robust economic reforms, characterised by an economy growing at over 7% p.a., Forex reserves: US$ 143 bn (<1 bn in 1991), Huge infrastructure investment, 100% FDI in many sectors, Many MNCs setting up major operations, International investor confidence up. There had been an unprecedented change in business scene as a result of initiation of de-regulation, beginning the journey towards market economy. The focus of business shifted from domestic to global market. Incidentally, the demographic profile of India was also congenial for the growth of business-Population 1 billion and growing, by 2020, 65% of Indians: 10-49 years, 200 millions 'consuming' middle class, 600 millions people of working age. With this backdrop the management education grew in the following manner:

* Number of B-Schools increased upto 1100, producing 65,000 MBAs a year which is still increasing

* Globalization of MBA curriculum

* Tie-ups and exchange with foreign business schools--common

* The organisational structure and mode through which the management education is imparted is following:

Management schools under Regulation (types)

* University departments (Undergrad & postgraduate)

* University affiliated colleges

* Stand-alone Institutes with AICTE approval

* Deemed Universities recognized by UGC

Business School Programs

* General/ Sectoral/Functional MBA

* Full time (1yr/2yrs), Part-time (non) residential

* Executive MBA programs (various modes)

* Unaffiliated independent schools

* Dual-degree with foreign B-Schools.

1. Executive Development Programs/ Management Development Programs

2. Doctoral & Faculty Development Programs

3. Management Research Programs

4. MBA through the distance mode

The Selection Process for the Management Programmes can be explained in the following manner:

Academic Requirements

* Bachelor's degree in any academic field (3 year or 4 year)

* Work experience generally not required

Admission Tests (written)

* IIMs and other schools--Common Admission Test

* CAT is used by leading Indian schools

* Other admission tests like GMAT

* State sponsored common eligibility tests

* Group discussions and personal interviews

Mentioned below is the synoptic view of typical structure of the curriculum of the Management Courses

* Foundation course in basics (such as statistics, accounts and economics) in the first Year

* Core subjects also in the first year

* 8-10 week summer training in companies

* Electives in the second year (taught courses or projects of varying lengths)

* Trimester or semester system

With the above mentioned structure and process of business education this Profile of Indian Management Institutions can be determined by resorting to the Three Tier Ranking mentioned here under:

Tier 1: IIM-A, IIM-B, IIM-C, IIM-L, MDI, XLRI, ICFAI, FMS, JBIMS, Symbiosis, IIFT, NMIMS, SPJIMR,

Tier 2: ISB, MDI, FMS, NITIE, Shailesh Mehta (IITM), TISS, UBS (Chandigarh), IITD, LIBA, IRMA, XIMB, IIM-I, IIM-K

Tier 3 : All other management institutes in India

The Concern

Emerging Paradox

The State of Business Education in India is Experiencing Quite a Paradoxical Situation. On one hand there is The emergence of elitist schools which may be explained by considering the power distance dimension of national cultures on the other hand Democratization of MBA Education due to privatization of Higher Education resulting into fall of quality of Management Education imparted leading to mismatch between demand of quality people and supply of quality people. The concept of quality business education will be defined differently in different cultures. Indian culture is characterized by high power distance and consequently high quality may denote elitism, reflecting pre-eminent standing among peers, as ascribed by public beliefs, and reinforced by cultural media, rewards and rankings (Gupta, Hanges & Dorfman, 2002). On the other end, in low power distance cultures, excellence could reflect action orientation, and be more a symbol of accomplishment, indicating the core mission and strategic commitment of the business school to all-round quality. The concept of quality as defined by low power distance cultures is what is useful to compete in the current global economy where success needs action orientation and team work. This suggests, that Indian business schools might need to change their culture and adapt to a new world economy by viewing quality more in terms of achievements than a reputation. Failure to do so, will result in the top tier schools becoming increasingly elitist till they lose touch with the needs of Indian businesses. (Gupta, Kamala, Ancheri) For that matter the quality of management teaching must be ensured. The general quality of management education has seriously suffered due to the privatization and introduction of franchise system in higher education. The consequences of imparting management courses through distance education mode by University Study centres run by franchises is pathetic, so is the result of running management courses in regular mode by mushrooming private colleges. With inferior quality faculty, inadequate infrastructure, extremely poor teaching-learning process these "academic shops" actually "sell" management degrees and exist only to maximize profit. The scenario speaks of a paradox rather a polarisation in the field of management education in India--in one extreme ivory tower elitist B-Schools on the other the "vendors of management education"--no systamatisation, coordination and regulation to streamline the field in question.

Mismatch between the Orientation, Education and Occupation of Management Students. The Mismatch can be explained in the following manner:

The Orientation, Attitude, Aptitude x Management Education x Occupation related to of the Management Student the field of Management Ideally, the match should have been in the following manner:

The Orientation, Attitude, Aptitude > Management Education > Occupation related of the Management Student to the field of Management

Numerical Strength, Quality and Status of Management Teachers

Among the 1,400 regulated B-Schools in the country, the "sanctioned" faculty strength could range anywhere from more than 100 to less than 10. But a majority of them don't conform to the teacher-student ratio of 1:15 stipulated by AICTE. Even if we were to assume a requirement of 10 fully qualified (as per UGC and AICTE stipulation or more than that), fulltime teachers for each of the 1,400 B-Schools, we need 14,000 professors. A number which is quite difficult for India to supply. The situation will only worsen as more B-Schools are set up in the country.

The problem extends to quality as well. An Assocham survey of 258 faculty members of B-Schools, published in May 2008, found that 89 per cent of the respondents were unable to tell the country's GDP growth rate in 2006-07, and less than 10 per cent were aware of the sub prime crisis. A good B-School professor has to be a brilliant teacher for regular students as well as industry executives, a perceptive consultant and an original researcher. When he's not teaching and dealing with industry's problems and finding solutions, he should be writing original papers for conferences and journals-not to seek fame but to maintain his honest intellectual practice--a very tough and demanding job. But unfortunately, most of the Indian Business Schools are manned by either inexperienced management graduates or in the words of Mr. C.S. Venkata Ratnam, Director, International Management Institute (IMI), Delhi, "voluntary retirees from banks and frustrated managers who got stuck" in industry and who are teachers by "compulsion" and "accident" not by "option" "intention" and "exercise".(Bajaj) The profession of management teaching has undergone a "shock therapy". Any person can become a management teacher irrespective of traits required if he/she suits the existing system and model of "education business". It is a kind of "imposed egalitarianism" in academics.

The recently held Sixth Business Today-Nielsen Survey (2008) on India's Best BSchools (Top Ten) can help us to understand the situation better. It is understandably more "market focused" because they have surveyed all the "stakeholders" of a B School--MBA wannabes, recruiters, young executives, current MBAs, HR heads and functional heads of companies. The Survey was conducted following Nielsen's proprietary Winning Brands model based on eight parameter which are following:

* Reputation

* Teaching methodology

* Infrastructure

* Placement

** Admission eligibility

** Faculty

** Specialist units

** Quality of placements

Although Faculty or Quality of Faculty is a parameter unfortunately faculty development is not a separate parameter which should have been. This is the most neglected aspect of business education in India. Theoreticians with no corporate or social acumen can not produce effective management graduates. Due to unbridled growth of management schools as result of private education system India is producing more and more management graduates but there is no through system, structure to accredit and evaluate the quality of the producers of the management graduates i.e. the management teachers. Neither there is any major endeavour to upgrade the quality of this academic community. Since most of them work in private sector their conditions of employment are not at all satisfactory, there is no body to protect and promote their interest. Naturally under fear or pressure they succumb to the dictates of management even at the cost of sacrificing the basic ethos and principles of teaching for their survival.

Before proposing any remedial for the aforesaid issues it is important to recapitulate the basic notions of the study of business administration or for that matter any applied course

* Knowledge is cognitive domain.

* To know stands for pure theoretical knowledge.

* Know how stands for the application of knowledge.

* Attitude refers to effective domain that includes learner's values, beliefs, biases, emotions and role expectations.

* Skills are the actual abilities to put specific knowledge into practice.

* Show how means demonstrate the ability to use specific knowledge or adopt specific attitudes.

* Do means, demonstration in learner's everyday work that he/she has integrated himself or herself with the objectives of the course. (derive from Eu Tech)

Following measures are suggested to address the issues concerning the state of business administration

Adequate Emphasis on Entrepreneurial Skill Development in the Study of Business Administration

Entrepreneurship which leads to the foundation of business organisation be it in the US (the citadel of study of modern business administration) or in India is not a result of formal management education. Entrepreneurs have evolved from need, ambition, seeing opportunity where others saw difficulties, anticipating needs and meeting them. All of them followed some simple rules in building their businesses. Understanding and tracking the environment are essential to any successful business. Unfortunately although Indian Management education teaches tools, techniques, skills and context to run a business but in general it does not provide adequate exposure to the environment of building a business organization. One extremely innovative method in this connection is "Walkabout". Business education is not complete unless a period of walkabout is introduced in the course. This managerial walkabout when successful completed, should mark the student's passage from a student of management to a manager or an entrepreneur. The managerial walkabout must present the student with five basic challenges. They are Adventure, Creativity, Service, Practical Skills and Logical Enquiry. Besides Indian B schools should consider including the following areas which provide elementary exposure to Entrepreneurship in their course of business administration:

* Raising of loan from a bank or a financial institution;

* Applying for an import license;

* Securing an export order;

* Making public issues if shares;

* Filing an insurance claim, and recovering the amount;

* Submitting sales tax returns;

* Disputing interpretations of an excise notification;

* Clearance of goods at Customs;

* Floating a company, etc. (Varma, &. Varma)

Developing Quality Management Teachers

The process of delivery of management education depends on the management teachers like other disciplines. There has to be total dedication on their part. But unlike teachers of other discipline they should possess a unique blend of true academic sprite and expertise of corporate functionary. Adequate time, opportunity and resource should be provided for their development at the same time it is to be monitored that these factors are not misused. The teachers should continuously upgrade themselves and should be aware of current happenings in their respective fields and otherwise.

Holistic Indigenous Approach towards Management Teaching

The approach towards management teaching shall be holistic and at the same time Indigenous with due regards to Western and American approach to the study of management. Teaching of management should not confine to class room lectures only, it must have a practical/applied orientation-rooted in the happenings of day to day life. The examples and incidents should be taken from day to day life of the nation. It is important to develop Indian brand of global managers or in other words and a brand of Indian managers who are of international standard. The present practice of making global managers of Indian origin devoid of originality should be shunned.

Ideological Re-orientation of Stake Holders

Emphasis should be given on producing managers for grass root level who must have orientation towards nation building besides building their own career. The current trend of developing careerist city/metro centric managers has to be changed. The ideas of Corporate Social Responsibility should be thoroughly imbibed in the minds of future corporate leaders. The first step of corporate ladder should start from organizing/managing business in an ethical and environment friendly manner in a remote village or a muffasil town rather than in an Indian metro. This process requires thorough ideological re-orientation. The guardian of the students must understand their responsibility do not end by admitting the students to the management school, paying their semester fees and bearing the other ancillary expenditures. They must be made to understand the goals of management school. In other words they also require to be re-oriented, otherwise their expectation of their wards shall start with admission and end with placement.

Evolving Long Term Vision for Management Colleges

The management of the college should have a long term vision. A college which has been set up for mere money making and profit earning cannot afford to execute the above mention ideas. Of course the college should earn the revenue, but it is to be kept in view, it is basically an institution meant for achieving greater social goals. The management committee of the college must comprise of academicians, industry people, social worker and environmentalists.

Redefining Standards of Accreditation or Revamping Regulatory Mechanism

It is incontestable that the largest recruiters of business graduates are obviously business entities. And, as "consumers", business and their associations have a much larger stake in the quality of business education in India than AICTE or the Ministry of HRD only. It is, therefore, clear that organizations like CII, FICCI and ASSOCHAM are the entities who should be the arbiters to determine the quality of business schools in the country. There could be a regulatory entity primarily promoted by these associations to oversee the quality of business education in the country and to bring forth periodically such changes as are required to reflect the changing business environment.

Interesting enough in this backdrop the recently submitted Prof. Yash Pal Committee report on higher education in India defines the idea of a University in the following manner which is very much relevant for institutions of higher learning in management as well:

"A University is a place where new ideas germinate, strike roots and grow tall and sturdy. It is a unique space, which covers the entire universe of knowledge. It is a place where creative minds converge, interact with each other and construct visions of new realities. Established notions of truth are challenged in the pursuit of knowledge."

References

Altbach, G. Philip; (2008): The "Subprime" Market and International Higher Education; International Higher Education; Number 51.

Bajaj Kapil, (2008): "Where are the B-School teachers"? Business Today.

Frey S. Bruno, (2003): "Publishing as Prostitution? Choosing between One's Own Ideas and Academic Failure;" Public Choice, Vol. 116, pp. 205-223.

Gottfried, Paul (2001): About Consumerist Education; Princeton University Press;

Gupta, Vipin, Gollakota Kamala and Sreekumar Ancheri; (2003): Quality in Business Education: A Study of the Indian Context; Paper Prepared for and Presented at the Business Education and Emerging Market Economies: Trends and Prospects Conference, Technology Square, Atlanta, Georgia, USA.

Monippally Matthukutty and Sahay Arvind (2005): Management Education in India An Overview Presentation made At PIM Conference, Prague.
Reengineering the process of the Study of Business Administration
Modes of Industry Institute Interaction and the Required Support System
Institute to Industry

S.
No. Mode Support system Institute Industry

1 Student visit * Motivation of teacher Yes
 to neighboring * Support from institute
 industry as a
 part of a
 course

2 Industrial tour * Teacher to volunteer Yes
 for students to accompany
 * Policy support
 * Financial input
 * Student organization
 * Industry cooperation

3 Practical * Industry Cooperation Yes Yes
 Training for * Identified work plan
 Students * Teachers to Supervise
 * Financial Support and
 Accommodation for
 Students Policy
 support/Curriculum
 Need

4 Student project * Industry Cooperation Yes Yes
 in industry * Identified Project

5 Teacher * AICTE Support Yes Yes
 Deputation to * Incentive to teacher
 Industry * Industry support
 * Policy support from
 institute

6 Teacher * Teacher expertise and Yes
 delivering industry interest
 expert lecture
 in industry or
 conduct a
 course

7 Depute persons * Industry Interest Yes Yes
 for higher * Institute Acceptance
 degrees * Interested Staff
 * Campus Accommodation

8 Assign * Faculty Availability Yes Yes
 Consultancy * Meet Time Schedule of
 Jobs to Industry
 Institute * Industry Need

9 Sponsor R&D * R & D need of industry Yes Yes
 Projects to * Faculty interest and
 Institute expertise
 * Congenial institute
 rules
 * Appropriate funding
 * AICTE/Govt. support

10 Industry * Industry Interest Yes Yes
 sponsored short and Vision
 term course * Willing staff
 * Faculty Expertise

11 Resource person * Liberal rules to Yes Yes
 from industry support from both
 A. Adjunct * Campus Accommodation
 Faculty from * Well planned scheme
 Industry
 B. Expert
 Lecture from
 Senior industry
 personnel

(Nagalakshmi & Swarnalatha)

The Most Important Parameters (All Respondents)

2008

Reputation 21
Infrastructure 14
Placements 12
Faculty 10
Teaching Methodology 8
Specialist Units 8
Quality of placements 1
Admissions Eligibility 26

2007

Teaching Methodology 15
Infrastructure 13
Placements 10
Admissions Eligibility 6
Faculty 5
Specialist Units 4
Quality of placements 3
Reputation 44

Note: Table made from pie chart.
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Publication:Political Economy Journal of India
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Geographic Code:9INDI
Date:Jul 1, 2010
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