By most accounts, the past year has been quite terrible. Some of India’s biggest corporate entities remain mired in scam after scam. Business credibility has suffered a body blow in the twentieth anniversary year of economic reforms (which, by themselves, remain a process in deep freeze). Inflation remains high, defying a worried central bank and government. And then, if the recent numbers are anything to go by, even growth appears to be slowing down, precipitating fears that the “India story” is at risk. All this is worrying. Frankly, with most of the developed world in trouble, one doesn’t know yet how severe the impact will be on India.
But the difference from 2008 is the general air of knowing calm at play. That comes from a stronger belief in the India story, that it still has a lot of steam—take hiring, as one example. As for ethics, business has been quick to react to the criticism. People are now aware of the risks—they are being careful. No one likes going to jail. Part of this debate has also shifted to the B-school arena, where Outlook’s rigorous ranking—conducted by market research agency MDRA—comes as an invaluable guide. At a time when the very nature of the MBA is changing—exam systems and foreign universities to satellite campuses and disappearing colleges—our package presents the best of the lot. Finally, we also see how young managers can do “good”, a very valuable lesson today. As always, choose wisely.
Andhra’s pride ICFAI Hyderabad, the top B-School in the metro. (Photogrqaph by P. Anil Kumar)
Our MBA programmes help only a select few (The Buzz in the B-Hive, Sept 26). What India needs is a mass ‘street- smart’ MBA programme, which benefits large sections of society. In the US, they have a few thousand lists, rather than just just a few dozen, when they are ranking mba programmes. Outlook should change its selection criteria. On another note, why the state has to spend precious tax money on an exercise which finally benefits only a select few mncs is beyond my comprehension. If the IIMs were so great, then let private industry pay for them.
Shailesh, Bridgewater, US
The IIM graduates of today are not a patch on earlier ones. If calibre is the only criteria, only 10-15 per cent would be deserving. Funnily, it’s the quota system for caste, women and weightage for non-engineers and plus-two marks et al, that keeps deserving candidates out. As for the faculty, a majority is not competent to teach at IIMs. They are responsible for destroying admission criteria.
Ramakrishnan, New York
This unholy triad of shysters, bean counters and pencil-pushers has pushed our world to the brink of eternal damnation. On the one hand, an mba’s worth is decided by the amount of consumerism he ushers in and then Outlook hopes he’ll fight the good fight against corruption. As Mr Boycott would say, this is “bloooody roobish”.
Anoop Hosmath, Mysore
How many times will you dole out the same stuff on the same topic? Waste of hundred pages.
S.G. Valluri, Bangalore
""How many times will you dole out the same stuff on the same topic? Waste of hundred pages."
Money makes the mare go, dear!
Nothing wrong in it, and if I were the editor of OUTLOOK, I would have done the same, and you too, brother. People at the helm have to face so many pressures, you can't even imagine. Remember OUTLOOK is the only news magazine (of standard and popularity) which gives space to the revolutionary and 'true' voices like Arundhati Roy.
I know the admissions even earlier had this criminal taint. IIMB took 3 years to come out with admission criteria in courts. I am sure if there is full revealation about earlier admissions are made available many will land in jail. But the IIMs will have to become Just in their admissions. Giving any weightage to 10th marks leave alone maximum is criminal. Indian democracy doesnot allow any arbitariness with public resources. The courts have ruled the same in case of allottment of petrol pumps.
The IIMs are at fault regarding weightage given to school levels as there is no justification for giving higher weightage to 10th or 12th marks. in the guise of Autonomy they cannot be arbitary and Courts have full power to examine the issue.There is no independent study which suggests 10th marks are indicator of future performance. A kid whose brain has not yet developed or who has not yet learned to study hard will get higher or lower marks than his true potential.
The teaching at IIMs is a big concern. In fact IIMs should be moved to places like Delhi or Mumbai to get good experienced faculty. It is a stupid idea to open IIMs in small places or for that matter IITs because the education part needs experienced teachers who have done hands on work. IIT Powai has this advantage of Industry interaction.
My experience in International area tells me that even people doing MBA from Harvard are not the best but are people who managed to get in and arranged funds. Many of them were just second rate at the time of graduation .
I dont agree that a topper of a college from Delhi can be equated with topper of IIT. In the first year at IIT you meet various state toppers but by next years the so called bright sparks fall much behind looking ordinary. I will also tell you people who were stressed at placements became different person in Job and when you meet them heading big corporations they are altogether different people with them gaining weight and becoming aggressive. I dont at all agree with EQ thing with my this life experience.
I am enjoying the exchange with you.
In the past IIMs never disclosed their selection criteria. One could only guess that the CAT scores, academic and extracurricular activities and the interview/GD had their roles to play, but nobody knew their weightage. With the same CAT score (never disclosed) one candidate could get interview call from only one or multiple institutes - not necessarily in a predictable order . People could get interview call from only one institute and made it. Others could not get admission despite getting interview calls from multiple IIMs. Even then, there were surprises and heartburns. A topper from an engineering school lost out to the BCom graduate whom the former had never recognized as a worthy competitor. Many who got admitted thought they were stars, while many of those who failed used to wonder about the "arbitrariness" of selection process. Anecdotically one could notice among the Indian MBAs of yesteryears IIMC had a large share of engineers among the graduates ( was its because of its MIT Sloan heritage or was it because of its focus on Operations/Systems management?) , IIMA had higher diversity of undergrads (read lower proportion of engineers) with strong past academic records ( probably because of tremendous academic pressure on IIMA students on campus) and IIMB had more focus on public sectors.
Perhaps IIMs used the same selection criteria in the past that are being disclosed now. Still this debate about the right weightage on selection criteria is immaterial. If professional success is a measure, IIT/IIM alumni are no better or worse than IIT/IIM rejects to prove necessity or unworthiness of an IIT or IIM degree. Neither IIM nor you need to feel agitated (or need to change professors/change selection criteria) if an otherwise academically brilliant relative of yours did not get admitted to IIM. I still hold that a brilliant criketer can play brilliantly in all formats - test matches, 1-dayer and 20-20 and a brilliant student should be brilliant in all formats of assessment JEE as well as board exams.
You still need to give up the idea that emotional and social skills do not matter much and can be easily picked up. On the contrary, business schools even after a large dose of behavioral science courses continue to wonder how social skills like values, ethics, inter personal behavior, leadership, creativity and innovation are built into MBA curriculum. In the US and the developed world the elementary, middle and high school education focuses on developing social skills, creativity and all round personality development. School kids are often engaged in sports, music and cultural activities that are given a lot of weightage in the selection criteria in colleges.
Your ignorance about the admission criteria rationale should not cause disappointment about the faculty. IITs and IIMs have been shaped by their faculty and alumni together over decades. It will be quite childish to take away credit from the faculty (many worked for decades) and shift everything to the alumni (although they do have alumni network and often alumni participate with the faculty in newer initiatives). Some of India's best minds have worked there and they indeed know what they are doing sometimes better than individual alumnus who have full time vocation elsewhere.
A more meaningful debate should have been why even after 5 decades IITs or IIMs have not developed managers, entrepreneurs and technologists that could transform India's pathetic public administration and social sectors and have remained a source of manpower for western multinationals. Or why the IIMs and IITs are not challenged enough to supply quality teachers in large numbers to teach a large population of young engineer/MBA aspirants.
But then our media is also concerned of the starting salaries of their graduates only.
I would agree that scores fo 10th and 12th should NOT be part of evaluation criteria.
I wonder what would be the new Mandate of these B-Schools apropos growing corruption – to devise a new Management Skill to avoid getting Trapped or Evolving a Methodology to imbibe it into normal Trait.
We at Outlookindia.com welcome feedback and your comments, including scathing criticism
1. Scathing, passionate, even angry critiques are welcome, but please do not indulge in abuse and invective. Our Primary concern is to keep the debate civil. We urge our users to try and express their disagreements without being disagreeable. Personal attacks are not welcome. No ad hominem please.
2. Please do not post the same message again and again in the same or different threads
3. Please keep your responses confined to the subject matter of the article you are responding to. Please note that our comments section is not a general free-for-all but for feedback to articles/blogs posted on the site
4. Our endeavour is to keep these forums unmoderated and unexpurgated. But if any of the above three conditions are violated, we reserve the right to delete any comment that we deem objectionable and also to withdraw posting privileges from the abuser. Please also note that hate-speech is punishable by law and in extreme circumstances, we may be forced to take legal action by tracing the IP addresses of the poster.
5. If someone is being abusive or personal, or generally being a troll or a flame-baiter, please do not descend to their level. The best response to such posters is to ignore them and send us a message at Mail AT outlookindia DOT com with the subject header COMPLAINT
6. Please do not copy and paste copyrighted material. If you do think that an article elsewhere has relevance to the point you wish to make, please only quote what is considered fair-use and provide a link to the article under question.
7. There is no particular outlookindia.com line on any subject. The views expressed in our opinion section are those of the author concerned and not that of all of outlookindia.com or all its authors.
8. Please also note that you are solely responsible for the comments posted by you on the site. The comments could be deleted or edited entirely at our discretion if we find them objectionable. However, the mere fact of their existence on our site does not mean that we necessarily approve of their contents. In short, the onus of responsibility for the comments remains solely with the authors thereof. Outlookindia.com or any of its group publications, may, however, retains the right to publish any of these comments, with or without editing, in any medium whatsoever. It is therefore in your own interest to be careful before posting.
9.Outlookindia.com is not responsible in any manner whatsoever for how any search engine -- such as Google, Bing etc -- caches or displays these comments. Please note that you are solely responsible for posting these comments and it is a privilege being granted to our registered users which can be withdrawn in case of abuse. To reiterate:
a. Comments once posted can only be deleted at the discretion of outlookindia.com
b. The comments reflect the views of the authors and not of outlookindia.com
c. outlookindia.com is not responsible in any manner whatsoever for the way search engines cache or display these comments
d. Please therefore take due caution before you post any comments as your words could potentially be used against you
10. We have an online thread for our comments policy:
You are welcome to post your suggestions here or in case you have a specific issue, to directly email us at Mail AT outlookindia DOT com with the subject header COMPLAINT