Prof. SS Prasad Rao, dean and director of Hyderabad Business School (HBS), says that despite the high fees, it is safe to invest on MBA study in the current situation.
Since the top institutes are registering good placement records, high fees can be justified. At the same time, he advises students to analyse their strength before taking admission. Students should judge if they are ready to work hard enough to deserve a good placement offer. They must realise that taking admission to a top B-school itself does not guarantee a high package. They can achieve their goal only when they work with a vision. Here are excerpts of his interview with Express:
CAT-2015 received more number of applications than last year. Do you see the comeback of MBA boom?
The increase could be attributed to reforms in the industrial policy brought about by the governments and the enthusiasm they generated in the industrial circles. For instance, ‘Make in India’ has enhanced the chances of MNCs’ entry into India and it has also boosted the manufacturing sector. Employment opportunities are also bound to increase in the coming years.
A majority of top management institutes are B-schools. How are they different from the business management departments of regular universities?
Autonomy is what mainly distinguishes the two. Autonomy allows them the freedom to formulate and update syllabus as per industry requirements and whenever they feel there is a demand for a specific skill and knowledge input. They also have the liberty with regard to the teaching pedagogy and evaluation pattern.
Why do most students prefer to study MBA in B-Schools?
Students prefer to study in B-schools because of the placement record. Most B-schools have dedicated placement cells, headed by senior faculty members, which take the responsibility of students’ placement and cater to their specific training needs. At the same time, the teaching pedagogy in a B-school is certainly industry-focused and is much beyond just providing theoretical concepts. B-Schools focus more on making students acquire skills that make them employable. Perhaps, these are the reasons for B-Schools attracting more students.
As a senior faculty member what would be your advice to improve the standards of management education?
It is important to have a mix of faculty both from industry and academics to have a good balance of theoretical concepts and having understanding of current industry practices. It is also important to lay emphasis on faculty research and consultancy involving students. This would improve the learning of students and enhance the level of management education. Summer internships should be encouraged to provide practical knowledge to students in their field.