Innovations programme would be flexible, with three months stay

Innovations in
management came from thought leaders and consultancy firms as well as from
business schools who designed and delivered MBAs. One of the major drivers of
changes of management education has been influence of thought leaders. They
brought in new concepts and new perspectives that enriched management education. Prahalad
and Hamel brought in the concept of core competence and this has been
used widely. MIT has announced a major change in Sloan Fellows Programme by
giving greater emphasis on technology, innovation and entrepreneurship. The
minimum requirement for this programme is ten years of work experience. The
programme would be flexible, with three months stay and the remaining spread
over a longer period. On the other hand, Goizueta Business School, at Emory
University in Atlanta increased the University – business interaction through
field trips and client interactions.

 

Mintzberg has
been one of those who argued for significant changes. Some of the major
concerns and the manner in which they are being addressed are dealt with in
this section. Mintzberg stated in his book that MBA prepared “People to
manage nothing”. Synthesis, not analysis is the very essence of management. Mintzberg
found fault with an emphasis that many MBA programmes place on frenetic
case studies which encourage people to come up with rapid answers based on
meager data.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

 

This has led to the question” “Are
business schools teaching the right things?”. Today, business schools face more
competition and more criticism about the quality of their work, than they have
ever done before. This is leading to fundamental changes in the structure of
the business school market.

 

Most of the
business schools have moved away from public funding. MIT and Stanford derive
their funding from endowments. Columbia, INSEAD and IMD derive their income
from executive education. Kellogg focused on customized programmes, made
students a priority and preferred teamwork. Kellogg has a stable model and it
continuously changes its core curriculum.

 

According to Mintzberg:
“The attainment of knowledge and the enhancement of competencies are important,
but we wanted our program to go beyond these, to help people become not just
more effective managers but wiser human beings – more thoughtful, more worldly,
more engaging”. The thrust of MBA is called E3: Enhancing the Educational
Experience. The major features that distinguish top and ordinary business
schools are “what they teach” and “how they teach”. Considerable attention is
given to themes, contents and pedagogy.

 

Michael in his
article on “The
marketing market: A study of PhD supply, demand, hiring institutions, and job
candidates”, reports the results of a survey of major colleges
and universities with respect to the supply and demand for new marketing
doctorates. According to the survey newer marketing doctorates will be hired by
schools than in the past. Many new marketing doctorates may be too specialized
for the needs of most schools. With an increasing number of job openings at
schools, where teaching assignments frequently involve two disciplines, much of
the increasing future demand may be for doctorates with a broad and general background.
 The most important aspect found in the
survey is both supply and demand for new marketing doctorates appear to have
reached a peak and are estimated to decline in the near future.

 

The study by Long
has repeatedly shown that the benefits associated with prestigious program-more
free time for research, access to abler research assistants, more stimulating
colleagues, and the “halo” effect of being part of a well-known department-have
a major lasting impact on a scholar’s productivity.

 

Merton shared
that such benefits are combined with what has referred to as the “Matthew
Effect”- “the accruing of greater increments of recognition for particular
scientific contributions to scientists of considerable repute and the
withholding of such recognition from scientists who have not yet made their
mark”-it is easy to understand how the resulting “accumulative advantage”.

 

 Allison & Stewart appealed for significant
career differences among scholars. Study by Stephen shown that an
Arrow-Capron type of labor shortage model is applicable to the academic labor
market, in spite of apparent imperfections in its market structure. In
particular, there was evidence that pecuniary gains obtainable from
inter-employer migration existed during the period under investigation, and
that these gains were positively correlated with the extent of labor shortages
across the seven disciplines. Second, labor shortages appear to evoke a strong
migration response in college professors. Finally, the distance professors
migrated was not significantly related to labor market conditions-hence,
reflecting the national scope of the academic labor market. Many individuals
within and outside university systems have decried the “publish or perish”
syndrome that is perceived to exist in faculty hiring and retention
decisions.  The criterion of teaching is
also of major importance in evaluating faculty for hiring or retention,
particularly at the assistant professor rank. Thus, teaching cannot be ignored
by either faculty members or those who participate in evaluating faculty. The
successful faculty member will undoubtedly be the one who can balance the
amount of effort required in each area of evaluation with the evaluation
expectations.

 

IV THE APPROACH

 

Individual management institutions should be
given the necessary freedom and authority to devise and adopt appropriate
policy changes such as flexible faculty recruitment policy. While recruiting
the faculty, the cadre ratio may be kept flexible so that appropriate persons
are recruited at whatever levels they are available. In order to facilitate the
recruitment of qualified faculty, it is essential that the current scales of
pay to be significantly revised. Irrespective of whether such revision takes
place immediately or not, the Management Institutes should be given enough
flexibility to decide upon the compensation package of the faculty. A reward
mechanism to be devised for Faculty who contribute in the strategic plans of
institution.  The retirement age of the
faculty must be relaxed to a greater extent; the faculty must be allowed to
contribute to the field as long as he/she contributes to the institutional
development. Such that retired employees can be re-employed on contract basis.
Services of such senior faculty members should be utilized for enriching