No Change Is Permanent But Change Begets Change
XLRI has recently received re-accreditation from AACSB for the next five years up to 2026. Besides, XLRI obtained the AMBA re-accreditation from 2020-2025. The institution is working towards Equis accreditation for gaining the Triple Crown title and has already initiated the process for participating in international rankings like FT and QS for the coming years. There are many other such plans in the making. Paul Fernandes, Director of XLRI-Xavier School of Management, Jamshedpur speaks on the future of management education.
What are some changes that you foresee as we move into a new year?
The primary development in the last 21 months is the post-Covid scenario where organisations, small or big, are scrambling to maintain their existence. Given the scale of disruption caused by the pandemic, it is evident that the current downturn is fundamentally different from the recession. The sudden reduction in demand and increased unemployment is going to alter the business landscape. The fear of health and wellbeing has led to behavioral, social, and economical changes which appear to bring a long-term impact. Recoveries are not yet robust.
Additionally, the promise of opening the education sector to be globally competitive through the National Education Policy in India will have a large-scale sustainability issue for many standalone institutions. Foreseeing these situations, the delivery of education has shifted to online platforms to a large extent. XLRI has made strategic plans, by investing in and introducing various hybrid and online programmes and courses, e-MDP (online Management Development Programmes) to overcome travel restrictions. Also, an immense infrastructural change has taken place in terms of the B-School adopting technology and getting connected with organisations globally. These changes are here to stay and are readily welcomed by the tech-savvy generation.Change may be a constant but no change is permanent; change begets change and it is consistent with the developments we witness.
Where do you see the business education sector in this?
Notwithstanding the dire predictions a decade ago that business schools will be out of business in the next 5-10 years, business education indeed is flourishing. Nevertheless, only the short-sighted will be complacent and keep continuing with business as usual. Radical shifts are happening in the horizon of business education. Some of these are obvious and some emergent and it is imperative to carefully study the signs of the times and to take appropriate risks thus, increasing the pressure on risk management of things. Business schools, therefore, must keep the students at the centre of strategy making. The changing preferences of the target group is an important indicator of what attracts them to the business school.
The protean generation that the millennials and beyond are, need to take charge of their careers and future with a strong emphasis on value realisation. Reflecting this self-directedness is the increasing attraction towards entrepreneurship. Curriculum drawing from the ecosystem of shared value would be in sync with the importance attached to realising the value orientation of the generation. The traditional curriculum of B-Schools must adapt to reflect these changing realities.
The future competition will come from the rise of edtech companies. Competition is not from national or international business schools alone. With technology impacting education in a major way, every other day one hears success stories of new edtech companies. Their ability to scale up, offer flexible programs and attract leading practitioners and academics with consummate ease are all factors leading to formidable competition to traditional B- Schools as these are not burdened with regulatory and profitability issues. Further, there are large philanthropic corporate universities offering business education.
In short, the canvas of competition is radically different today than it was a decade ago and B-School strategists need to leverage technology and offer flexibility in their curriculum and program duration. Offering modular programs is a way in which some of the B-Schools are incorporating flexibility. Amidst the chaos, perhaps what gets overlooked is the importance of building critical capabilities of leadership, interpersonal skills, self-awareness, emotional competencies, and other soft skills. Perhaps B-Schools known for inculcating such competencies could capitalise on the first-mover advantage.
The sector is seeing different kinds of changes. What is your competitive advantage in this scenario?
XLRI is the first among the B-Schools to have introduced Virtual Interactive Learning (VIL) in India, many years ago, in 2001. This suite of online and VIL programmes that have been popular among students and working executives gave XLRI a competitive advantage with the crisis of having all courses to be taken online. XLRI has always taught its management students to face unexpected challenges and brainstorm solutions to overcome them. The transition to the new mode has been rather seamless with 100 per cent support of the faculty members and the adaptability of all students across programs after the pandemic struck.
Can you explain more about how XLRI is looking at hybrid learning formats?
Information technology is unarguably the backbone and the defining force of XLRI. The upgradation of infrastructure, like establishing a Wi-Fi campus, is supplemented by the introduction of new courses, workshops, seminars, live projects, and the establishment of a centre for e-business that aims to facilitate industry-academia interface. This has enabled the creation of a tech-savvy managers batch who are skilled to integrate technology solutions at their workplace.
Computer Simulation Software: Many courses such as strategy, finance, operations, marketing, information systems use computer simulation software like Capstone, Harvard Business Simulation, and Markstrat et. al. and various online trading platforms along with the Bloomberg Terminal to give students a better understanding of real-world problems.
Learning Management System: The LMS at XLRI allows smooth administration -- from the regular flow of information among faculty, students, and staff to conducting sessions. XLRI has recently accepted the services of a globally known LMS provider to augment an unhindered process flow.
Experiential Learning: An IoT lab has been set up in collaboration with ITC to ensure experiential learning among students. Also, a Behavioural Lab, which is an inter-disciplinary laboratory, designed for the study of human subjects.
Easy Search Functionality: Using SAP for hands-on ERP through the University Alliance Program, XLRI provides value-added learning through access to various databases, e-journals and software. The library uses a web-based system - Liberty and Online Public Access Catalogue (OPAC) for easy referrals and information on the availability of books; RemoteXs, which allows users 24X7 access from their offsite device.
A Virtual Ecosystem: Using a technological platform that is licensed directly by XLRI, the VIL programs extensively use technology to provide an enhanced learning environment to participants. The institute also offers programs through different techno-marketing partners who facilitate e-learning through a synchronous mode. An in-house platform allows seamless interaction between students and faculty. An AI-based human proctoring solution used for conducting examinations, makes for accurate and reliable assessments. An upgraded system being currently worked upon is slated to allow delivery of asynchronous programs and make provision for the flipped classroom model.
And how do you ensure your faculty stays abreast to be able to make the most use of all this?
At XLRI, we have been creating a culture of continuous learning not only for students but also for our faculty. They are encouraged to maintain currency and relevancy in their areas of expertise. These are done in many ways including consultancy and research activities influencing teaching, industry interactions, attending conferences and workshops.
The B-School curriculum too is seeing changes. What do you think are some courses that will stay relevant?
Predicting the near future requirements, programs on entrepreneurship, innovation, sustainability, supply chain management, health care management and public policy are imperative apart from business management and HR management. These are here to stay for more years to come.
How are you collaborating with industries for internships and placements?
We are grateful to the industry leaders for their trust in XLRI and support for its activities. At XLRI, we do not limit our relationship with industries just for internships and placements, we go much more beyond this. Being the first business school in India, we have enviable alumni working in reputed global organisations who have continuously been involved in the most critical functions of the planning and policy formulations of the institute. This alumni-institute relationship spans various crucial activities such as the incorporation of current best practices, curriculum and programme evaluation and revision, student live projects, executive programmes, management development programmes, consultancy etc. XLRI also has an Industry Advisory Council that comprises prominent industry experts and faculty members. This council has been formed to increase interaction between the industry leaders and the institution.
How much will the role of tech grow?
Technology is the lifeblood to management education as it cuts across barriers and brings the globe on the same platform. The use of technology in education helps in delivering better experiences through customised infrastructure solutions. It makes it convenient for specialists at the other end of the world to reach out and disseminate their knowledge and expertise. Research that is pivotal to any B-School is made possible through technology. Information and data are now available to the student at her fingertip all because of education technology. The future of education may rely less on physical infrastructure and more on digital, thereby leading to equal access and affordable quality education.
How has the pandemic affected campus placements?
XLRI’s campus placements are not adversely affected by the pandemic. Amidst the Covid-19 pandemic, we saw slight differences in the extent of the placements for this particular year as well as a shift in trend. Post pandemic, we are seeing that the companies are more willing to hire in roles that are essentially meant to make them immune from such situations in future. Consulting, business analysts, data-based decision making roles have seen a very high uptick.
Are we seeing more female students coming into management studies?
XLRI is fortunate to have very talented women students. From establishing the Centre for Gender Equality and Inclusive Leadership to having a female representative in almost all the various internal Committees to having a lady professor as the Associate Dean of Student Affairs, XLRI has always had a very conducive environment for females.
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