In recent time many management schools are closed or at the edge of closing, due to lack of admissions in MBA courses. I want to know whether it is curriculum is reason, which is not on the mark of corporate/students who are not interested in higher education/ market standard.
First reason that comes to mind is placement. Either students don't get job offer or package offers don't meet their expectation. It get currency among prospective students in students contributing region. It can also be examined in terms of quality of teaching and fee structure and quality of admitted students. If there is some screening or entrance test, it can also not guarantee the quality of students, luck, paper setters expertise and manipulations in terms of donation or favours given may bring in students who are neither qualified nor have aptitude for management studies. Since, certain schools' students have got or getting very lucrative jobs, therefore, everyone is running towards this professional training. In the process to profit there have come up with high quality, low quality teaching shops without credentials and those who are not luck to get admission in the former, try their luck in the latter. What will be future of such students, it is not even matter of making a guess. Favours granted, luck and money paid to purchase the job generally compromise the quality of teachers. Yes, due to lack of expertise or foresight curriculum could not match the skills demanded in the labour market.
Since students for MBA come from varied fields,unless concerted efforts are made by them to comprehend what is taught & read by them,they do not measure up to expectations.The quality & level of expertise of teachers can go a long way to make or mar future career of students.As new institutions crop up like mushrooms,this level naturally takes a hit & is a good recipe for disaster.Getting placements is about a student's performance at the interviews & if this aspect is not sharpened,students don't get attractive placements. The number of students that had passed out earlier was way above the absorbing capacity so much so that,a good number had to opt for lesser lucrative jobs,thereby belittling the value of MBA.Naturally this situation called for correction, resulting for closure of many business schools.
Learning what is taught by teachers is one aspect,but in my opinion what most of the students give a miss is about not reading enough of relevant literature also of the biographies of successful & failed entrepreneurs & corporations the world over.For e.g when a student is asked about Lee Iococca, Lee Kuan Yew, J.R.D.Tata, T.V.Sounderam Iyenger to name a few about how they managed their companies without any formal education,most of them will have no answer.
Another point to be made is that most of them think it's a 10 to 5 job,which is not so at the ground level. Recently 3 days back in The Economic Times of India, there was an article why many CEO's of reputed companies get up at 4 a.m. & how they go about their work. I doubt whether any MBA student can be expected to measure up to this. A competition increases,expectations from top level managers also increase & this puts additional burden on working hours of new commers & with a hire & fire policy in corporate sector, all is not hunky dory at the work stations. This message makes rounds with the others & makes a difference.
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