Management Science & B-Schools:

Management Science & B-Schools:

This article discusses the importance of Management Science-what makes the likes of IIM-A and XLRI aspecial place to learn and the attributes which contributes to the performance of a B-School.
Management education is a commitment both in terms of time and money. The curriculum is designed in such a way that student’s assumptions and attitudes are developed tangentially. It is an opportunity to learn, question and discover the term called “Business”.

Today IIM’s are not showing interest in B-Schools survey but still it has been rated as the Best B-School of India in all premier business magazines. Business Today survey frequently rated IIM-A as the Best B-school in India for many times. The main reasons behind the IIM-A success are given by Business Today in this way:

1. Case study methodology:
• This method stresses on translating theory into practice.
• They deal with real problems faced by real companies.
• Faculty members interact regularly with corporate world to develop these case studies.
• Two/ three faculty members take one to two months to develop case study.
• The case study forces students to think and come up with solutions to the given problems.
2. Alumni: Base for the Brand “IIM-A”:
• Constantly update who’s who of Indian and International business.
• Sweat it out together under nerve-wracking pressure to get the right grades.
• They are driven and competitive.
• They are conceptually strong with hands on mindset.
• They give importance to numerical and analytical skills.
• They are Leadership oriented.

The Survey conducted by Business Today reveal that
out of 50 leading companies in India, 16 are headed by
Management students. That is 32 percent of companies
are headed by Business schools’ alumni.

Company
CEO School/ University
Reliance Industries Mukesh Ambani Stanford University
HLL Harish Manwani Mumbai University
ICICI Bank K.V.Kamath IIM-A
TATA Steel B.Muthuraman XLRI- Jamshedpur
Reliance Energy Anil Ambani Wharton School
Mahindra & Manhindra Anand Mahindra Harvard Business School
Satyam computers B.Ramalinga Raju Ohio Unversity

Most Important Parameters for B-School Survey:
Business Today does a market oriented survey where B-Schools were rated as brands by recruiters. This process has been followed from many years to rate and rank B-Schools.
Let us now see the parameters taken into consideration while evaluating B-Schools performance.

Let us see the level of seriousness in XLRI way of teaching. This shows the involvement and dedication of both the students and faculty members.

Students say:
“We work seven days a week, often up to 18-20 hours a day”
“Each hour of class will require two hours of home work”
When the students were asked about the timing they follow. They said usually the college starts at 9:00 AM and ends at 5:00 PM. After the college hours they spend their time on studies, projects and internet. And when asked about the sleeping hours, one of the students said “it could be between classes, lunch time and extreme cases not at all”.

A concept called BODHI TREE has been long since followed in XLRI. It is a hang out where dispersal and dissemination of knowledge from seniors to juniors and from peers-peers takes place. Faculty members are available 24/7. He or she can make a call anytime without any fear.
These are the reasons why the IIM’s and XLRI are considered to be a special place to learn.

Source: Business Today 2003,2004, 2005.
Indian Management, Internet . Image source: http://images-cdn01.associatedcontent.com/image/A2312/23120/300_23120.jpg