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Industry-academia ties need to grow

Industry-academia interaction has been a key factor driving the evolution and growth of management education in India.

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Industry-academia interaction has been a key factor driving the evolution and growth of management education in India. In fact, one of the important parameters for selecting a B-School today is the degree to which it has industry linkages. The criteria are not just restricted to those with a good placement record. It is considered that an extensive corporate interface in the form of visiting faculty, internships and course parameters enables a B-School to offer better career opportunities to aspirants.

Management courses that help aspirants prepare for the changing world order are increasingly sought after.

This aspect, which applies across all specialisation categories, was highlighted recently during a session of Visionary Leaders for Manufacturing (VLFM), which is aimed at fostering senior managers in the Indian manufacturing sector. Elaborating on the topic ‘new thinking in industry-academia-government partnerships’, Prof Y S Rajan, emphasised that academia needs to be involved with the real life problems of industry. Rather than pursue multiple goals, he favoured doing specific things precisely.

In fact, Professor Shoji Shiba of Japan, who was recently conferred the Padma Shri award 2012, has played a leadership role from the planning stage in the VLFM program, which has been implemented by Confederation of Indian Industry (CII) with a joint technical cooperation agreement signed by the Prime Ministers of India and Japan.

When the concept of industry-academia interaction reaches the stage where the governments of two leading Asian countries start facilitating the process, the future scope for management careers built on such a foundation becomes quite obvious.

There is a good reason why this is necessary. In the competitive scenario prevailing today, every country is trying to position itself as a hub for finance, services, manufacturing,  so companies from certain industries will keep shifting to those countries that offer a cost advantage.

Similarly there exists intense competition within each country for jobs as well. Again, depending on land prices and infrastructure availability, companies set up new units in emerging towns and cities. The management aspirants who are taught how to adapt and deliver will survive in this challenging world. Those who do not would end up being unemployable dinosaurs.

Grooming students to develop their leadership abilities and get them used to concepts like teamwork is also quite important. The spotlight, therefore, remains focused on B-Schools that provide students with the combination of a global perspective and extensive industry interface. This will ensure they have the necessary skills and guidance to identify potential or seize opportunities that arise in future.

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