Management education has come off age. With the globalization of economy, companies are expecting aspiring managers to be more effective in dealing with business challenges. B- Schools across the world also getting prepared to deliver skills that suits the requirements of companies. We can trace number of changes in existing specializations, launch of new specializations, growing industry – academia interaction at the curriculum, teaching and practice levels. International Business Schools are in the forefront of catching up the situation. Here are some latest updates from world renowned Business Schools of Western countries and USA. Let us hope that Indian Business Schools take the inspiration from these Schools in modernizing the curriculum.
1. Harvard Business School is planning to add case studies on the sudden demise of the banking system in United States of America.
2. All the big B- Schools are responding to the Financial Crisis facing by USA and offering solutions. Booth School of Business has introduced a course in the analytics of financial crisis. This school is under the purview of University of Chicago.
3. Some B- Schools are getting prepared to make leaders who can face any business crisis effectively. Tuck School of Business, Dartmouth, US has begun a course in this direction with emphasis on core leadership.
4. Darden School of Business, University of Virginia, US, has restructured its MBA course and included topics on ethics in business. It also introduced a special module that covers investing in a turbulent stock and financial markets. Advancing more in these lines, Darden School has introduced modules on Psychology, Sociology and Anthropology to enable future managers take better and more humane decisions.
5. Did you listen a course titled “Understanding the Marketplace”. US based Villanova School of Business has introduced this course with participation from local business managers. The main purpose of this course is to show how the crisis affected businesses.
6. With emphasis on the past and present of crisis, Mc Donough School of Business, a part of Georgetown University (USA) has started a new course called "Financial Crisis, Then and Now".
Some prestigious B- Schools in India like Symbiosis, Narsee Monjee, IBS, XLRI, IRMA also updating their curriculum and introducing new specializations to meet the requirements of modern sectors like Telecom, Healthcare and Pharma. But the overall standards and quality needs to be improved a lot in hundreds of Business Schools and Colleges.