“Biggest Challenge Is To Survive Disruptive Forces Of Technology”

What is the current thrust area at your institute?
ICFAI Business School (IBS), Hyderabad is a popular destination for aspiring students who wish to pursue careers in management. In the near three decades of its existence IBS Hyderabad has trained more than 20,000 students who occupy senior roles in industry and businesses. The continued success is a proof of its adaptability to changing business dynamics. The areas of thrust too change with time. The current thrust areas of the institute are…

• Changing curricula that reflects the needs of industry. Inputs for these changes are captured from a systematic assurance of learning process. 
• Thrust on experiential learning in many courses. Faculty continue to look for innovative approaches to teach and train students. 
• Investments in technology upgradation, access to digital resources, adoption of hybrid and online teaching modes for flexible learning. 
• Standardised coverage of curriculum and uniform assessment pattern in all multi section courses. 
• Laser like focus on students, providing specific inputs for placement readiness from Year 1 of the MBA programme. 
• Active involvement of alumni and recruiters in student mentoring and training.
• Encouraging faculty to pursue sponsored research projects through attractive incentives. 
• Hiring faculty with a Phd degree and good research record.
• Emphasis on societal impact, sustainability, governance and ethics, entrepreneurship.
• Expanding the portfolio of recruiters for campus placements. 

How will AI impact management education and what is your institute's approach to disruptive technologies?
AI can provide personalised learning experiences based on a student's interests, abilities, and learning style. This can help students learn at their own pace and get help where they need it most. Such diverse abilities of AI can map the student’s competencies with the job role he/ she is interested in. As such AI will complement regular classroom instruction. IBS will invest in relevant AI tools and technologies. 

The institute is well aware of the rapid changes taking place in the tech landscape such as the widespread adoption of AI in businesses. These developments need trained manpower which only educational institutions can provide in large numbers. IBS has been at the forefront of taking the lead and has taken steps to launch courses in AI in the MBA programme. 

What are the changing expectations of corporate world and industry and how are you meeting those expectations? 
Industry expectations are changing with the rapidly evolving technological landscape. IBS, being a pioneer in management education has always responded to such changes well in advance.Students should possess qualities like cognitive flexibility, good interpersonal skills, analytical and critical thinking, comfort with digital technologies, automation tools and virtual environments (cloud, adaptability and flexibility, problem-solving ability, collaboration skills and leadership skills.) 

At IBS, students learn beyond the classroom through formal and informal engagement by faculty, student groups and alumni. Curricular and extra-curricular activities provide suitable learning opportunities to imbibe several qualities and skills. Students learn by attending lectures by industry executives and alumni. They are encouraged to work in teams, participate in group projects, visit industry exhibitions, attend conferences and conclaves and take part in national sports competitions. 

What are the biggest challenges before B-schools today and what solutions would you suggest?
The biggest challenges before B-schools today is to adapt and survive the disruptive forces of technology. The Covid pandemic has created a plethora of alternatives for flexible and hybrid learning. Students need not take a conventional approach and fixed time frames to learn. 

Adapting curricula to changing industry requirements is the second biggest challenge. The lead time between theory and practice has not been bridged.  More often text books are outdated. Student skilling needs active industry collaboration which is a challenge for many business schools. There is no immediate solution for this. 

Getting trained faculty is the third biggest challenge facing B-schools. Many business schools continue to face this crunch despite providing the best working conditions. This can only be resolved by a concrete concerted action by government and private education sector participation. 

Industry-academia gap continues to widen. This is the fourth biggest challenge. This could be due to a variety of uncontrollable factors. Government can mediate and motivate both industry and academia to actively collaborate for hiring faculty on short-term industry assignments, promotion of joint research, hiring of industry professionals in academia on sabbaticals/ as professors of practice.