New-age IIMs With A Fresh Perspective
What is it that the new-age IIMs can do that established IIMs find it difficult to carry out?
Newer Indian Institutes of Management (IIM) have certain advantages and opportunities compared to the more established IIMs. Some of the things that new-age IIMs can do more easily or differently include: newer IIMs have the advantage of designing their curricula with a fresh perspective and they can adapt more quickly to changing industry needs and global business trends; new-age IIMs can explore innovative teaching methods and technology-driven approaches to education; and they can incorporate online learning, simulation-based courses and interdisciplinary studies to better prepare students for the evolving business landscape.
New-age IIMs often have the advantage of a less bureaucratic decision-making process, which allows them to respond more swiftly to changing circumstances and student feedback. Newer IIMs can have a stronger emphasis on research to establish their academic reputation. They can allocate resources and build research capabilities more effectively from the outset. Being newer institutions, these IIMs might have a more international and globally oriented outlook, allowing them to foster international collaborations, faculty exchanges and student study-abroad programmes more easily.
What has been the journey of the institute like and what have been the challenges?
IIM Udaipur has established itself as one of the top management schools in India, focused on high-quality research. Our rankings in academics and research, along with international recognition, set us apart. IIM Udaipur has taken its place among the top global B-schools by receiving accreditation from the AACSB (Association to Advance Collegiate Schools of Business). IIM Udaipur was recently ranked 16th by the National Institutional Ranking Framework (NIRF) Rankings 2023 of the HRD ministry.
As IIM Udaipur is heavily focused on top-class research, attracting faculty of high calibre has always been a challenge. However, IIM Udaipur has so far been able to hire highly motivated and research-focused faculty. The institute does not have a huge corpus and thus it has less financial flexibility. The institute is adopting innovative means to expand its physical infrastructure. The institute is trying to increase the proportion of international students and faculty. It is easier said than done.
What is the impact of disruptive technologies on the campus and what is your approach towards these technologies?
Disruptive technologies are having a significant impact on educational institutions, including campus life and the overall learning experience. These technologies have brought about various changes. Disruptive technologies have facilitated the adoption of blended learning, which combines in-person and online instruction. This has made education more accessible and flexible, allowing students to learn at their own pace and access resources from anywhere. Tools like video conferencing (Zoom meetings, Google Meet), online forums and collaboration platforms have transformed how students collaborate and communicate with their peers and faculty.
As for the approach towards these technologies, we are proactive in embracing and integrating them into our operations. We have allocated resources for technology infrastructure, faculty development and technology adoption. This includes investments in hardware, software and training.
We have provided training to our faculty to help them incorporate technology effectively into their teaching methods. We are ensuring that students' data is protected and that the campus is secure from cyber threats. We are staying up to date with emerging technologies and trends in education and are willing to adapt and innovate. For example, we are very soon going to provide VR/XR experiences to our students. We are partnering with tech companies, startups and experts in the field to leverage their expertise and resources.
What are the expectations of industry from management education and how are you fulfilling those expectations?
Industry expectations from management education have evolved in response to changing business landscapes, technologies and the dynamics of a global economy. To fulfil these expectations, educational institutions, including management schools, need to adapt and innovate. Industries expect management graduates to possess knowledge and skills that are directly applicable to the modern business world. We are fulfilling this expectation by regularly updating our curriculum to include the latest business trends, tools and technologies.
In today's digital age, industries expect management graduates to be technologically literate. We have integrated technology into their courses and provide training on relevant software and tools. Many industries operate on a global scale, so they expect graduates to have a global perspective. We are catering to this expectation by offering international exposure through exchange programmes, internships abroad and global business courses. Industries value graduates who are adaptable and open to change.
What are students' aspirations and is there a change in focus towards startups rather than taking up corporate jobs?
Students' aspirations and career preferences have evolved over the years, reflecting changes in the business landscape, societal values and personal goals. There has been a notable shift in focus towards startups and entrepreneurship, although corporate jobs continue to be a significant career choice for many. Corporate roles can offer stability, structured career paths and opportunities for professional development. The choice between startups and corporate jobs often depends on an individual's personality, risk tolerance, goals and values.
