A new bill in town

Another Bill. As if we did not have enough bills already!

The newest one – the Higher Education and Research Bill 2011 seeks to establish the National Commission on Higher Education and Research (NCHER), an overarching regulatory body for university education including vocational, technical, professional and medical education.

The Bill will promote autonomy of higher education and innovation and provide for comprehensive and integrated growth of higher education and research keeping in view the global standards of educational and research practices, for which it will establish the National Commission for Higher Education and Research (NCHER).

The NCHER will facilitate determination, coordination, maintenance and continued enhancement of standards of higher education and research other than agricultural education and matters pertaining to minimum standard of medical education as are the subject of proposed National Commission on Human Resources in Health (NCHRH).

So far so good.

The existing regulatory bodies including the University Grants Commission and the All India Council for Technical Education will subsequently be scrapped.

All that’s left now is to wait for this and all the others (reportedly 11) to be cleared. Some backlog indeed!

Mumbai campus for Italian b-school

One of Italy’s top institutes, Università Bocconi, through SDA Bocconi School of Management, is setting up a campus in Mumbai. The MISB Bocconi or the Mumbai International School of Business Bocconi will offer postgraduate programmes in business for Indian students and managers. SDA Bocconi has been ranked as among the top 10 European business schools according to the Financial Times rankings.

“MISB Bocconi opens to our university a new path for our internationalisation strategy which has led us today to have over 200 partner schools in all five continents and to offer our students 16 double degree programmes, of which one with the Indian Institute of Management- Ahmedabad,” explains Guido Tabellini, rector of Università Bocconi.

“It is, in fact, the first initiative in which, together with entrepreneurial partners, we give birth to a postgraduate education programme aimed exclusively at Indian students and managers and not Italians. We have chosen India,” says Tabellini, “ to set up this new project because of both the strong request for managerial education which characterises the Indian market and the deep-rooted experience which Bocconi has in this country beginning back in 2000, when we signed our first agreement with a partner university.”

The first programme offered by MISB Bocconi will be the Post Graduate Programme in Business, which will start in July 2012, a high-level international programme in management and centered on the realities of the Indian market and business world. Lessons will be held by a mix of Indian, international and Bocconi faculty. The programme will be a combination of theory and real practice in close contact with the business world and will be articulated in 2 modules of 11 months each. 

The first module will cover disciplines such as marketing, economics, corporate strategy and finance, concluding with a summer project that foresees an internship, an entrepreneurial project or a research project. The second module will also include the option of a campus abroad in a Bocconi partner school or an exchange semester at Bocconi’s campus in Milan and a group consultancy project in close collaboration with a company.

Università Bocconi will guarantee the quality of the courses in accordance with international academic standards and also draw upon its network of collaborations with Indian corporate partners with which it already works to offer internships and work experience for its students.

The school is also looking at launching executive education programmes for Indian and multinational companies, operating on the Indian market, in fields such as finance, entrepreneurship and family business, and fashion/design management, drawing upon the experience of SDA Bocconi.

Positive trends for b-school grads in 2011

Key survey and poll results from the Graduate Management Admission Council (GMAC) during 2011 provided a positive outlook for MBA graduates in 2011 and projected hiring for 2012. The year’s noteworthy findings include:

• 54 percent of all graduate business students seeking employment in 2011 had at least one job offer pre-graduation, up from 32 percent in 2010, according to the GMAC Global Management Education Graduate Survey.

• Class of 2011 grads who did an internship are 26 percent more likely to have a job offer pre-graduation than classmates without an internship, according to the GMAC Global Management Education Graduate Survey.

• 67 percent of full-time MBA programs reported a decline in application volume in 2011 compared with 2010; 54 percent of part-time programs reported that application volume was the same or more than last year; and 58 percent of executive MBA programs said application volume was the same or more than last year, according to the GMAC Application Trends Survey.

• 83 percent of Master of Finance programs reported that applications were up, and 69 percent of Master in Management and 51 percent of Master of Accounting programs reported an increase in applications, according to the GMAC Application Trends Survey.

• Admissions offices at business schools reported that the quality of applicants for 2011-2012 incoming classes and their academic credentials are equal or better for 89 percent of full-time MBA programs compared with last year, according to the GMAC Application Trends Survey.

• Nearly four times as many companies are planning to increase the number of MBAs they hire in 2012 (22 percent) compared with the six percent of companies that actually hired more MBAs than planned in 2011, according to the GMAC Year-End Employer Poll.

Global stamp of recognition

In my recent post about Indian business schools: Best practices, I had written about top business schools identifying best practices to help benchmark with foreign schools and attract the best students and faculty. International accreditation helps business schools get a global stamp of recognition for their MBA programmes. Students get their degrees recognised globally, while the business school is successful in securing more foreign partnerships and linkages.

Four business schools in India have received the Association of MBAs (AMBA) accreditation. The UK-based AMBA is an international impartial authority on postgraduate business education. The AMBA accredits MBA provision at 187 schools in over 70 countries. IIM Lucknow’s MBA programme is the most recent to receive the Association of MBAs accreditation in November 2011.

The first to receive global accreditation from the Association was MDI Gurgaon in 2005 followed by SP Jain and IIM Kozhikode. More business school accreditations are also in the pipeline. “Granting Association of MBAs accreditation is a mark of the quality of a business school’s programmes and ultimately is a great profile-raising tool for schools, as our programmes are recognised internationally, thereby giving the business school a global status and network,” said Sharon Bamford, Chief Executive of the Association of MBAs. “The Association of MBAs accreditation is unique as it focuses on individual programmes, rather than the whole institution. This in-depth and detailed approach means that the highest standards of teaching, faculty and student interaction are guaranteed by our accreditation. We also believe that programmes should be of the highest standard and reflect changing trends and innovation in postgraduate management education,” she added.

As well as accreditation of top business schools, the Association of MBAs is committed to the growth and high standards of post-graduate management education by creating enhanced membership opportunities for Indian MBA students and alumni. The first of the Association’s membership initiatives launched in November 2011 with a networking and learning event called Global Connections. “India is the cornerstone of the Association of MBAs innovation strategy. Our focus is to work with Indian business schools to build and improve on their management education giving them international recognition, and to support MBA students and alumni with membership opportunities that assist in their professional development,” said Sharon Bamford.

Future initiatives include empowering local MBA students and graduates to build a global network representing accredited MBA programmes. This will provide professional development through learning and networking events and through the opportunity to build an international profile for those who have studied at an accredited programme. This global network would unite MBA students, business schools and employers of MBAs under the prestigious umbrella of the Association of MBAs.

Indian Students in the United States

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Indian business schools: Best practices

Leading schools such as the Indian Institutes of Management (IIMs) and the Indian School of Business are identifying best practices to help them benchmark with foreign schools and attract the best students and faculty.

Accreditation, evaluation and grading of programmes, as is the norm with business schools in the West, are a few of the things being considered.

International accreditation help students get their degrees recognised globally, while the business school is successful in securing more foreign partnerships and linkages.

The Indian School of Business (ISB) recently announced its accreditation by the Association to Advance Collegiate Schools of Business (AACSB), an US-based accreditation body.

Ajit Rangnekar, Dean, Indian School of Business said, “We are delighted to have received the prestigious AACSB accreditation, which is regarded as the hallmark of excellence in business education. The AACSB is unique because of its mission-driven approach, evaluating the applying schools against peer schools with similar missions.”

Other top Indian b-schools such as the IIM Ahmedabad and IIM Bangalore have received approval from European agency EQUIS. IIM Kozhikode has applied for accreditation from AMBA (Association of MBAs), a UK-based organisation.

According to media reports, even newer business schools such as the Chandigarh-based Aryans Business School have become members of the AACSB.

India's invisible innovation challenge

True or false: When it comes to innovation, the developed world has a distinct advantage over emerging markets? If you believe this, you’ll be surprised to read new research from London Business School professors Nirmalya Kumar and Phanish Puranam that turns this long-held assumption on its head.

In their new book INDIA INSIDE: The Emerging Innovation Challenge to the West, Nirmalya Kumar and Phanish Puranam, who are also co-directors of the School’s Aditya Birla Centre, make clear that for certain kinds of innovation, the long-held monopoly held by the developed world is over. As a result, the authors argue, it’s now time for Western countries to follow the East’s lead—and in particular, India’s lead—in adopting different processes and developing new responses to increasing shifts in the world market.

But one thing is for sure: India’s invisible-innovation challenge will need a response from Western multinationals and policy makers alike. In India Inside, Professors Kumar and Puranam deliver a much needed wake-up call to thinkers and companies in the developed world.

According to the authors, substantial innovation is taking place in India, but in a form that is invisible to consumers around the world. This innovation takes a rich variety of forms—from novel B2B offerings and R&D services outsourcing to process improvement discoveries and fresh approaches to management.

The authors argue that despite some challenges, India has emerged as the global ‘invisible’ innovation hub. Four new concepts help demonstrate this:

• Global segmented R&D delivery model: How innovative and creative tasks are increasingly being off-shored to India
• Injection of intelligence: How over-qualified people on what were considered dead end jobs produces product innovations in India
• Sinking skill ladder: How by outsourcing the bottom end of the value chain to India, the West will be forced to offshore more strategic and creative activities in the future
• Browning of the TMT: How multinational corporations must transform composition of their global leadership teams as R&D and markets move to India and China

Kumar and Puranam believe that India’s emergence as a global innovation hub has important implications for the developed world. For Western multinationals it means internal stress around talent and the makeup of top executive teams. For Western policy-makers it means the potential loss of dominance in creative, innovative, and high-value-added work. The book provides several potential responses and recommendations for adapting to this new norm.

Through research and extensive interviews with India-based executives from companies like AstraZeneca, GE, Infosys, Intel, and Wipro, INDIA INSIDE presents a clear-eyed view of the challenges and opportunities facing multinationals seeking new sources of innovation in the future.