Q. Kindly comment on the state of Indian management education today? Are there too many B-schools?

A. I personally do not have any negative views on management education in India today. In every walk of life, we will find A, B, C, and D categories of everything, be it people, products or services. You have 5 star hotels and also have road side dhabas. There is a place for every one of them. I know of B-schools that take rural students and focus mainly on communication and personality development. They get call center jobs or sales jobs. Compared to other courses, the focus on skill development in MBA and job market orientation should be appreciated.

However, the quality of education can be improved. IIMs have a social responsibility to train the management teachers across the country. Since it is not lucrative many IIMs do not concentrate on this essential activity. At the same time, IIMs can also learn a lot from some of the smaller institutes that teach Indian case studies and Indian management concepts. The large number of B-schools is simply due to a large demand for management education in India. Very soon, we will have many international universities setting shop in India. Once it gets over saturated, the consolidation will take place when only the fittest will survive.

Q. How do you see the future of management education in India? What lies ahead?

A. Why worry about management education alone? As we are becoming a knowledge society, we are witnessing a boom in higher education. As of now, IIMs and IITs have become synonymous with high quality education in India. The biggest challenge is to retain the same high-quality image. If we continue to teach American theories using American case studies and prepare students for multinational companies, I wonder what we will do when the American Universities themselves offer their programs in India.  We need to develop our own models and create our own Harvards and Stanfords in India. Please remember that glorious Institutions of yesteryears like BHU or Presidency College are not in the mainstream today. You will also see the onslaught by online universities, virtual universities, corporate universities and the private universities. IIMs and IITs have to wake up from their slumber if they have to retain their top slot.

Q: There are now 13 new IIMs including the two new ones in Udaipur and Kashipur. What is your take on this government policy?

A. It is a brilliant move. For a country as large as India, we probably need another 12 IIMs. I do not see much of a difference between the top 10% of the students appearing for CAT. Consequently, we need to provide challenging management education to those 25000+ students. So the demand far outstrips supply.  More IIMs also bring fresh insights and new models to management education. IIM Shillong has done considerable amount of work for the development of the North-Eastern region. IIM-Kozhikode has introduced a program on health management. There is a dire need for programs on energy management, education management, sports management, public health management, media management and so on.

The six new IIMs have also planned to use technology in a big way for optimal use of scarce resources. As a starting point, we are setting up high-tech class rooms in each IIM and would all be connected through the National Knowledge Network. Consequently, a good lecture in any one IIM can be attended by students in all other IIMs.  In sum, my assessment is that more the merrier. We can collaborate and create models for the rest of the world to emulate.

Q: What is your vision and mission for IIM Ranchi as the Director? Where do you see IIM Ranchi 5 years down the line?

A. The vision I have set for IIM Ranchi is: `thought leadership and holistic development through erudite fusion of east and west’.  Our education basically appeals to the intellect of the students and fails miserably with regard to soft skills and inner development. The present day education basically produces people with a big head and a small torso. We at IIM Ranchi, strive for the holistic development of body, mind and the soul. We shall use the western concepts for developing the mind; but would blend the eastern concepts to develop the body, mind and the soul. Management education world over is in a crisis mode.  People blame the recent global financial crisis to the short sighted approaches of the management graduates trained in western management concepts. West is looking to the east for new directions. That is where we want to do basic research and attain thought leadership through erudite fusion of eastern and the western models. The center for research in Indian Management at IIM Ranchi will play a pivotal role in making IIM Ranchi a world renowned center for new insights in management.
We also would like to reach out to the smaller B-schools and contribute to the holistic development of the society and the environment.

Q: IIM Ranchi came into existence in 2010. What key challenges/hurdles have you faced since the inception?

A. IIM Ranchi got a head-start compared to other new IIMs, since it was mentored by IIM Calcutta (IIMC).  Even before I was appointed as the Director in November 2010, the first batch of 46 students with an average CAT score higher than leading IIMs were attending classes taught by IIM Calcutta faculty. Everything was given to me in a platter.  The downside is that the IIMC culture (excessive analytic orientation) has got ingrained to some extent. It is not that the same is bad, excepting that we do not want to be seen as a division of IIMC. The challenge initially was to get the students buy-in to the vision I have set forth for the Institute. We have now introduced courses/modules on Indian culture, inner development, rural immersion, and business-government-and-society. We do not want to set benchmarks for IIM Ranchi based on other Institutes. Our vision is to set standards for others to follow. I do have a challenging task ahead in terms of getting the right team of faculty, staff and students who can make it happen.


Q. What advantages are there for the students studying at IIM Ranchi when compared with already established IIMs like IIM-B, IIM-C?

A. We want to create new standards to measure the success of any B-school. We want to produce management graduates who are thinkers, philosophers, and team-players. Only such people can look at issues from a holistic and long-term perspective and take decisions that take care of multiple stake-holders. The education that we impart in IIM Ranchi is such that it will propel them to leadership positions in business and society. IITs and IIMs have produced many successful business leaders but not necessarily well respected by the society. Our students stand to gain from our holistic education and preparation for life rather business alone.

Q: IIM Ranchi has finally been allotted land for permanent campus recently. What will be the unique aspects of the campus?

A. We plan to grow vertically and also have centrally air-conditioned classes and hostels. That way the initial 10 lakh square feet of construction will not take up more than 30 acres, leaving the remaining 70% of land for future growth. Needless to say, it will be a green building, preferably, platinum rated. Half the class-rooms will be lecture theaters and the rest will be designed for experiential (activity-based) learning. There will also be a prayer hall for meditation.

Q. How do you rate the placements for your first batch students who have passed out this year?

A. The first batch is currently in summer internship.  Our students have got placement in top ranking companies for their summer internship. The average pays for the eight week period of Rs. 55,000 is comparable to the best in the country; the minimum being Rs. 15,000. We have got good stipend for all the students in high profile companies. This was mainly possible because we have high quality students with high CAT scores. We also managed a piggy ride on IIMC and also used my contacts in the Industry. We hope to get a number of pre-placement offers. From the initial reports I have received from the companies, our students are doing exceedingly well. The next batch of 70 students should have no difficulty in getting paid- summer-internship for all and we will get excellent final placements for all the 46 first batch students. It is not the money that matters, but the impact that our students make as change agents who not only take care of the business but also the society and the environment.