In this interview with Careers360, Prof. S. Venkata Seshaiah, Deputy Director, ICFAI Business School shares his thoughts on the role of management education in the development of economy. He also speaks about the aspects an aspirant must analyze before getting admission in a B-School, and not get carried away by false promises.
He further discusses the teaching methodologies at IBS Hyderabad along with the selection procedure for admissions to the institute. Read below this special interview with Prof. S. Venkata Seshaiah.
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Careers360: How has the value of management education in India changed in the last 3-5 years? How do you foresee the MBA programme scenario in the coming 1-3 years?
Prof. S.Venkata Seshaiah: Management education plays a major role in the economic development. Though the business education in India has a long history the growth in business schools and business education increased after liberalization of the economy in the 1990s'. Though the value of management education has not changed, the demand for the management education in India is gradually coming down in the last 3- 5 years as most of the business schools are not focusing on the much needed academic rigour, skill sets and attitude of the students sought after by the industry. Therefore, we witness more B-schools exiting from the market these days.
In the coming 1 to 3 years, the MBA programme is going to face a lot of challenges and threats. The challenge will be in the form of differentiating themselves in innovation, engagement and impact. Hence, the business schools face the challenges in terms of developing the right curriculum, getting quality faculty members, pedagogy that suits the global requirement. If they are not able to meet the challenges, they will find it difficult to attract and retain the students.
Careers360: The number of MBA applicants has remained stagnant and it has fluctuated around 2 lakh for last 4-5 years now (reflected in CAT application number). What could be the key reasons for this?
Prof. S.Venkata Seshaiah: It is very difficult to conclude that the number of applicants remained stagnant or fluctuated around 2 lakh because some students write GMAT, MAT, XAT, IBSAT, and moreover each state conducts its own test to accommodate students in state universities. However the stagnation may be due to poor infrastructure, inferior quality of faculty members, static curriculum, poor pedagogy, research without purpose, ineffective industry linkages, and lack of internationalization. At ICFAI Business School (IBS) we are seeing a steady rise in numbers, year on year.
Careers360: What is the total intake in the flagship PG programme in Management in your institute? Please also mention annual fee (excluding hostel charges) for the same? Is there a change in the fee structure as compared to the last session?
Prof. S.Venkata Seshaiah: At IBS the total intake in MBA program, which is our flagship program, each year, is 1100 and we have about 2200 students together in both first year and second year. The programme fee is Rs. 6.10 lakh per annum. There is no change in the fee compared to the last session.
Careers360: How have been the placements at your institute for 2015 batch (Batch size, number of offers, average annual package, number of international MNCs as recruiters, International offers, cross country roles etc.)? Any sector/function specific trend that you noticed during the placement season this year?
Prof. S.Venkata Seshaiah: The batch size was 860 and the no. of offers received was 791. The average annual package is Rs. 6.5 lakh and there were 11 international offers. This year we could attract 24 international MNCs for placements.
There was more demand for Marketing and Financial Services function. The prominent sectors were IT, Banking and Financial services.
Careers360: What will be your selection criteria for MBA/PGDM programme for academic session 2016? Is it any different from the last year? Is there any institutional emphasis on gender and academic diversity to accommodate more female and non-engineer students?
Prof. S.Venkata Seshaiah: ICFAI conducts IBSAT (ICFAI Business School Aptitude Test). The qualified students will be called for Group Discussion and personal interview. Based on the overall performance the students are selected. There is no difference in selection criteria for 2016. Our campus represents a mini India, representing 29 states with a healthy demographic, academic and gender diversity. At present girls constitute 42% of the student enrollments.
Careers360: What is the USP of your flagship management programme which differentiates it from the others? How do you plan to enrich your flagship management programme in next 1-2 year?
Prof. S.Venkata Seshaiah: Most of the business schools treat their students as customers in the class-rooms, where as IBS Hyderabad follows a different approach – for the school and students together industry is the customer.
What differentiates IBS from others is:
At IBS we adopt a unique TRICK method – Teaching, Research, Innovation & Institutional development, Community development and Knowledge sharing.
1. Teaching Aspects:
Continuous evaluation method
Simulations and Modeling
2. Research Aspects:
3. Innovation and Institutional development Aspects
Syndicated Learning: A unique and innovate method that helps the students to enhance their skill sets to be employable.
Three hours comprehensive examination
Focused approach towards overall development of students through Mentor-mentee approach
Simulations and term papers
Unique Summer internship program
Cafeteria approach in the selection of specialization
Introducing market driven electives like Marketing Analytics, HR Analytics, and Finance Analytics
Strong Industry Institute partnership
Curricular as well co-curricular students clubs
Strong Alumni relationship
Focused Case Research Center
4. Community Development
Though we teach Business ethics and corporate governance, IBS strongly believes in enhancing the student’s awareness on corporate social responsibility. Hence, we involve them in community development activities through our club activities and through our women development centre.
5. Knowledge Sharing:
The faculty members of IBS identify every year the general management books and we ask the students to read and present the summary of the book to other students, thereby enhance the knowledge of the students.
Careers360: Do you think the publications in peer-reviewed journals, as indexed in international databases, have a western bias (USA, UK)? What should be done to increase the no. of publications in the management domain?
Prof. S.Venkata Seshaiah: I do not think that the publications in peer reviewed Journals, as indexed in international databases have the western bias (USA, UK).
Institutes should create proper research culture by conducting workshops to the faculty members on research methodology, how to collect review of the literature, how to identify suitable journals etc. The institutes also should introduce proper incentive policy for publishing in indexed journals of repute. They should motivate the faculty members to do quality Ph.D. by registering in a well-recognized institutes or universities that create research culture. For example in the last academic year IBS Hyderabad faculty members have published about 150 research papers in Scopus, ABDC listed journal and other indexed journals. IBS introduced a decent research publication incentive policy. We have a strong Ph.D Program, which is a blend of best practices of American and Indian Universities. All our Ph.D scholars are paid handsome stipend by the institute.
Careers360: Any Message to B-School aspirants?
Prof. S.Venkata Seshaiah: The aspirants of B-School should undertake proper analysis before arriving at any decision rather than getting carried away by advertisements, blogs, etc. The best indicator whether a B-School is reputed or not, is the feedback from alumni and recruiters. The aspirants need to exercise due caution before selecting a B-School.
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If you are seeking admission to the MBA program in IBS Hyderabad, you will have to appear for IBSAT 2019 Test scheduled in the month of December 2019 or can apply with scores from 2017 onwards of GMAT®/CAT/ NMAT by GMAC.
IBSAT is a Computer Based aptitude test conducted by The ICFAI Foundation For Higher Education for students seeking admission to the MBA / PhD programs of IBS Hyderabad.
Check the details using the link below:
The applicants applying for UGC NET December 2019 ought to have qualified the Master's qualification or equal in recorded subjects scoring 55% from any state or focal perceived college (half for SC/ST/OBC/PWD competitors) in Humanities (counting dialects) and Social Science, Computer Science and Applications.
Competitors more likely than not scored in any event 55% total imprints (half for SC/ST, OBC-NCL, PwD) in Master's Degree or equal assessment from college perceived by UGC in Humanities (counting dialects) and Social Science, Computer Science and Applications, Electronic Science and others to be qualified for UGC NET 2019.
Applicants need to verify qualifying marks in both the 2 papers of NTA UGC NET 2019 so as to get shortlisted for JRF or Assistant Professorship. The UGC NET qualifying marks for General classification applicants is 40% in Paper I and II. While the passing marks for saved classification up-and-comers is 35% in Paper I and II.
Practically 100% of the understudies get set. The most elevated bundle offered is 48 LPA, the least bundle offered is 5 LPA, and the normal bundle offered is 6 LPA. Top jobs offered are expert, supervisors, deal profile and the executives abilities advertising. Right around 100 present understudies get a temporary position here in school, and many got a pop too.
Labs are great with cooling. Study halls are great and open with great sitting seats. Wi-Fi is quick and consistently ON to utilize. The library is great and has a ton of books to peruse, comprehend and gain information about subjects. Lodging and wreckage are great and clean.
Personnel are qualified. Practically 90% of them are doctorates degrees or PhD holders. The classes run normally with a completely versatile and intelligent condition.
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