What Makes IIMA A Modern-day Gurukul?

Director Bharat Bhasker attributes the success and uniqueness of the Indian Institute of Management (IIM), Ahmedabad to its unwavering commitment to the motto – Vidya Viniyogad Vikas which means development through the application of knowledge.

At IIMA, change is a constant as the drive to innovate and find new energy and ways constantly gives the institution an edge over its peers. The management reviews activities periodically and closely works with experts and HR managers from the industry to gather insights to further enrich its offerings to meet modern-day requirements.

Its world-class faculty, unique pedagogy and focus on catering to the needs of the industry and society are the key factors that set IIMA apart, even after more than six decades since its inception.
Director Bhasker tells BW Businessworld, “Our faculty members ensure that our pedagogy is grounded, in sync with the changing industrial landscape and, therefore, practical. Through their research and industry engagements, they identify real-world challenges and bring this knowledge into the classroom to create opportunities for our students to imbibe practical and responsible decision-making skills.”

With the investment in the growth of its students at every step (as it claims), IIMA wants to call itself a modern-day Gurukul where it nurtures and develops responsible leaders who are well-prepped to handle challenges, are entrepreneurial in their approach and are adept at taking responsible decisions during crisis.

Tech To Teaching

India’s B-schools are functioning in an industry that is constantly in flux. In the past few years, India has witnessed the stunning rise of the digital economy such as artificial intelligence (AI), virtual reality (VR), machine learning (ML) and app-based services changing the landscape of business models.

While technology has played a major role in business disruption since the 1990s, operations to innovations have also been altered fundamentally in the process. Disruptions have occurred in the past and they are only intensifying by the day.

Now, experts believe that management education institutes shoulder the responsibility of developing leaders who can keep businesses agile, are innovative and are capable of leveraging emerging technologies in such a scenario and helping their organisations stay competitive and relevant.

Talking of solutions, Bhasker adds, “We as educators must stand firm on the belief that knowledge is the bedrock of all progress and development and for all the disruptions that we will come across in the future, we must know how to apply the knowledge we have gained to harness these disruptions.”

As modern operations are complex and managers require an understanding of these complexities, the industry needs leaders who understand the extent to which newer technologies can impact businesses and can foresee or even create disruptions that can keep their businesses profitable.
He asserts, “Our curriculum must focus on integrating diverse aspects and take a cross-disciplinary approach that offers a wider view of the industry. Furthermore, management courses must integrate global and cultural sensitivities too with an understanding of international markets, supply chain dynamics, managing cross-cultural teams and possible ways to navigate national and global policies.”

Currently, for Director Bhasker, internationalisation is one of the top priorities for IIMA. As it is one of the best management institutes in India, the logical next step is to establish the IIMA brand globally. He says, “These are exciting times.”

As experts claim that India is at the cusp of major economic growth even in the middle of a major geopolitical crisis, several foreign universities are already setting up their campuses in the country, which paves the way for collaborations that can enrich practices and help Indian education institutes synchronise their curricula with the global business environment and bring their offerings at par with global standards.

So how does India’s premier B-school match pace with technology-led transformations? Well, to do that IIMA is infusing the technology into the organisation to extend its reach. “Also, there will be a renewed focus on ensuring that our curriculum and programmes are in sync with the global business environment, the Director informs.
 
Changing Expectations

In its selection process, IIMA looks for meritorious students from diverse backgrounds. Notably, the institute has seen the number of women students growing at a gradual but steady pace in the past few years. This is also applicable to the academic diversity and socio-economic backgrounds that students come from.

IIMA’s Bhasker comments, “We strongly believe in making education available to encourage deserving and meritorious students. To ensure we have the best of talent coming to the Institute, we have a range of scholarships to offer. These are merit cum means scholarships awarded to deserving students.”

Carrying forward this mission, IIMA has announced 30 new scholarships for the incoming Class of 2023-25. The scholarships have been contributed by the IIMA alumni through the IIMA Endowment Fund. In addition to these scholarships, it has several others in the form of awards for academic and all-round excellence and performance in specific subjects, which are either awarded by the Institute, alumni, individual or organisational donors.

Talking about Industry 5.0, the Director says, “We keep introducing electives and courses based on our learnings from industry engagement. We realise that technology is going to play an integral role in management education in the coming years as it works better with the newer generation. We have infused technology in several aspects of our teaching and learning across programmes to which our students have responded positively.”
 
For instance, IIMA also has a 16-month diploma programme in Advanced Business Analytics and others are on digital marketing, digital strategy, innovation, digital transformation, etc. Some other examples of electives that aim at preparing students for real-world challenges include management of bio-pharmaceutical industries, regulation in the financial sector during times of financial crisis, real estate management, reimagining telecom and next generation businesses, etc.
 
Besides these, IIMA is also focussing a lot on the policy domain. He adds, “The Centres of Excellence that we have set up at the institute to promote research, contribute immensely to our curriculum. For instance, now we have dedicated centres for research in areas such as AI and data science, digital transformation, transport and logistics etc.”

In today’s day and age, one of the key factors that can make a business resilient is a workforce that can absorb sudden shocks in case of crises and is adequately equipped in terms of knowledge and skill to drive operations remotely and keep the business going. As a result, recruiters are now looking for candidates who not only possess technical, technological and leadership skills but are also equipped with good EQ and people skills.

Alongside all of these, a modern-day leader needs to have the ability to drive his business responsibly and sustainably. “Our curriculum should provide a view of government policies and regulations, national and global concerns, etc.so that our students develop into responsible business leaders who set the welfare of not just the business but the society, at large, as the core of their business decisions,” Bhasker states.

Meanwhile, IIMA not only teaches students about the technological disruptions in the industry through courses and electives but also upgrades its approach and integrates the technology teaching-learning process to stay ahead of the curve.