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Page 1 of 4

Journal for Studies in Management and Planning

Available at http://edupediapublications.org/journals/index.php/JSMaP/

ISSN: 2395-0463

Volume 03 Issue 12

November 2017

Available online: http://edupediapublications.org/journals/index.php/JSMaP/ P a g e | 140

Role of Management Education in Development of

Society in India

Pradeep Kumar

Guest Faculty, Department of commerce, Marwari College, Ranchi, India, Email:

prdeepkrj0516@gmail.com

Abstract

Management Education involves teaching and preparing the managers and leaders for the 21st century’s business challenges

and opportunities. Now, the question arises that how management education plays its role in the development of society. This

paper has examined the role of management education in the development of society in India with special reference to

management education provided by IIMs in India. In this study, MHRD Annual Report, AICTE Annual Report, NIRF Report,

etc. had been used as source of information. It found that IIMs offer management education which has a significant role in the

development of society in India.

Keywords: Management Education, IIMs, Development of Society

1. Introduction

Due to the globalization and liberalization process started

in India since 1991, the Indian economy requires a huge

number of management graduates with improved and

upgraded capabilities, skills and attitude to face the

management and leadership challenges boldly. In current

business environment, the expectation of industry has

increased from the management students to face the new

challenges of the business.

Natashaa Kaul (2011) stated in her study that management

education has an increasingly central role in the success of

individuals and corporations mainly due to globalization

process in the world. The competitive business

environment has paved the way for increased demand for

management graduates in the employment market. This

has led to a significant expansion of management

education across the country [1]

. Shweta and Manoj (2011)

stated in their paper that management education became

popular in the last decade of 20th century due globalization,

liberalization and emergence of transnational corporations.

B-Schools turned up in a big way to provide business

education and to develop managers and leaders with right

knowledge, skills and attitude, so as to meet the demand of

management professionals [2]

. Prof. Goutam G. Saha

(2011) stated that liberalization of business education in

India in 1990s resulted in rapid growth of Indian Business

Schools. Indian Business Schools are almost a replica of

US Business Education in their pedagogy, curricula,

industry interface and academic research model. He also

observed that Indian B-Schools are struggling hard to

introduce several adaptions of US B-School Model due to

differences in work culture system [3]

The purpose of this study is to understand the management

education provided in India and to examine the role of

management education in development of society in India.

This paper is very useful for professionals, scholars,

students, and general readers to understand the

management education and its role in Indian society

development.

2. Materials and Method

This paper is a qualitative study in nature, and uses MHRD

Annual Report, AICTE Annual Report, NIRF Report,

Official Website of IIMs, and other relevant published

materials as source of information.

Page 2 of 4

Journal for Studies in Management and Planning

Available at http://edupediapublications.org/journals/index.php/JSMaP/

ISSN: 2395-0463

Volume 03 Issue 12

November 2017

Available online: http://edupediapublications.org/journals/index.php/JSMaP/ P a g e | 141

2.1 Management Education in India

All India Council for Technical Education (AICTE)

ensures the proper planning and coordinated development

of the management education system throughout the

country in India. In line to bring transparency and quality

in management education, AICTE has been successfully

conducting National entrance examination CMAT

(Common Management Admission Test) throughout the

Country since 2013 for taking admission in the Post

Graduate Management programmes in AICTE approved

Management Institutions/University Departments. Before

introducing Common Management Admission Test

(CMAT), Management Institutes were following variety of

entrance examinations including CAT/MAT/XAT/ State

level entrance test or conducting their own entrance

examinations for admission for MBA and Post graduate

diploma programmes in management [4]

. According to

AICTE Annual Report 2015-16, number of management

institutions/programmes is 3452, and approved intake

capacity at post-graduate and under-graduate level in

various management education disciplines 431780.

According to the Central Educations Institution Act, 2006,

15% and 7.5% reservation in admissions is reserved for

SCs and STs, which encourage SC and ST students to

continue higher education and make it mandatory on the

part of the institutions to enroll a certain percentage of SC

and ST students in their intake. The AICTE ensures the

application of this provision in its approved management

institutions. There is also Post-Graduate Scholarships for

Students belonging to SCs/STs . The objective of this

scheme is to provide financial assistance to 1000 SC/ST

candidates to pursue postgraduate level studies in

Professional subjects at recognized Indian

Universities/Institutions/Colleges. Moreover, these

regulations and legislations have directly played a role in

improving the rate of enrolment of the weaker sections of

the society in management education. Even then, Indian

Gross Enrolment Ratio (GER) in Higher Education ( Age

Group 18-23) is very low and a major concern, which is

given in the table 1.

Table 1: GER in Higher Education (18-23 Years)

Year All

Page 3 of 4

Journal for Studies in Management and Planning

Available at http://edupediapublications.org/journals/index.php/JSMaP/

ISSN: 2395-0463

Volume 03 Issue 12

November 2017

Available online: http://edupediapublications.org/journals/index.php/JSMaP/ P a g e | 142

2.1.2 Top 5 in Management Institution as per National

Institutional Ranking Framework (NIRF) India

Rankings 2017

Following are the top 5 in Management Institution as per

National Institutional Ranking Framework (NIRF) India

Rankings 2017:

Rank 1: Indian Institute of Management Ahmedabad: The

Indian Institute of Management Ahmedabad (IIM

Ahmedabad) is a top-notch public business school located

in the city of Ahmedabad, Gujarat, India. The Institute was

established on December 11, 1961 and is the second IIM to

be established in the country. Indian Institute of

Management Ahmedabad stands at the First position with

weighted score of 78.96.

Rank 2: Indian Institute of Management Bangalore: The

Indian Institute of Management Bangalore (IIM

Bangalore) is a premiere public business school located in

the India's Silicon Valley, the city of Bengaluru,

Karnataka. The Institute is the third IIM to be established

in the country in the year 1973. Indian Institute of

Management Bangalore stands at the Second position with

weighted score of 78.82.

Rank 3: Indian Institute of Management Calcutta: The

Indian Institute of Management Calcutta (IIM Calcutta)

was established as the first national institute for

postgraduate studies and research in management by the

Government of India in November 1961. The Institute is

located at Joka, Kolkata, West Bengal. Indian Institute of

Management Calcutta stands at the Third position with

weighted score of 76.60.

Rank 4: Indian Institute of Management Lucknow: The

Indian Institute of Management Lucknow (IIM Lucknow)

is fourth in the prestigious IIM family of management

schools established in India. The Institute was established

in the year 1984. It is located in the city of Lucknow, Uttar

Pradesh, India. Indian Institute of Management Lucknow

stands at the Fourth position with weighted score of 71.58.

Rank 5: Indian Institute of Management Kozhikode: The

Indian Institute of Management Kozhikode (IIM

Kozhikode) is an renowned business school to offer post- graduate programs. It is situated on two hillocks in the

Kunnamangalam area of ancient city of Calicut, Kerala,

India. Established in 1996, IIM Kozhikode was the fifth

IIM to be established in the country. Indian Institute of

Management Kozhikode stands at the Fifth position with

weighted score of 65.41

2.1.3 Few Popular Management Programmes at IIMs

Few Popular Management Programmes at IIMs are given

below:

i. Post-Graduate Programme in Management

(PGP): The PGP is the flagship two year

programme of IIMs. This programme is designed

to develop professional managers with strong

conceptual fundamentals and skills required to

manage business. Its objectives are to enable its

graduates to understand the socio-economic,

technological, ecological and political

environment of India and the world; to develop

the problem solving skills, increase the affinity to

innovation and the passion for creativity; to

develop global mind set to meet the challenges of

international and work in a cross-cultural

environment; to create socially responsible and

globally competitive management to contribute

for inclusive growth of the society; and to

develop a sense of social purpose for managerial

decision-making and to develop leadership

capabilities without compromising on ethical

values[7]

ii. Executive Post Graduate Programme (EPGP):

The Executive Post Graduate Programmes are the

perfect option for working professionals and

executives to enrich their skills and strategies to

take their organizations to the next level around

work. A world of opportunities is available for

working professionals and executives to meet

their career objective through the programme.

Executive education programme offers a two year

post graduate diploma programme in management

and one year post graduate certification

programmes in Operations, Marketing, Finance,

Strategy, IT and Human Resources which

supports the working professionals and executives

to enrich their knowledge in area of expertise [8].

iii. Management Development Programmes (MDPs):

This is a short duration Management

Development Programme, keeping in view the

ever changing business environment and the

demands on business/professional executives. The

objective of the MDPs is to help improve

management systems and practices by providing

relevant training to the executives of different

sectors of the economy operating at different

levels in the organizational hierarchy. The

participants will be equipped with the latest tools,

techniques and skills spanning different streams

of management such as General Management,

Human Resources, Organizational Behaviour,

Marketing, Finance, Operations Management,

Information Systems, Strategic Management and

Industrial Relations. The duration of these

programmes would range from one day to six

days depending upon the variety, magnitude and

complexity of topics being offered. These

programmes can be held in the premises of the

client organizations [9]