D&B Leading Business Schools of India 2019

Leading Business Schools of India 2019

Leading Business

Schools of India 2019

Leading Business

Schools of India 2019

Leading Business Schools of India 2019 Published in India by Dun & Bradstreet Information Services India Pvt Ltd.

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Editor

Nayna Banerjee Naina Acharya

Sub-Editor

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Leading Business Schools of India 2019 4 th Edition ISBN 978-93-86214-31-7

Contents

Preface.................................................................................................................. I

Foreword............................................................................................................. III

Executive Summary..............................................................................................V

Methodology. ....................................................................................................VII

Overview of Business Schools.............................................................................XI

Experts’ View. ...........................................................................................E-1 - E-7

Alphabetical Listings. .................................................................................. L1 - L7

Section 1: Profiles of Leading Business Schools..............................................1-59

Section 2: Profiles of Leading Business Schools............................................61-71

Section 3: Listing of Featured Institutions.....................................................73-74

Abbreviations..................................................................................................... 76

Index. .......................................................................................................... 77 - 80

Preface

To create a knowledge based society and generate good quality employment in the economy, we need a strong foundation for higher studies. Research suggests that on an average across OECD countries, the financial return to tertiary or higher education is substantial. The calculated financial return for a single worker completing tertiary education is around twice as large compared to a worker who has attained only upper secondary or post-secondary non-tertiary education. When we look at India, we have the largest population in the higher education age group (15-24 years) in the world and is likely to enjoy this position at least for the next two decades. This would be both a challenge and an opportunity. Providing good quality employment could raise per capita income level and thereby lead to higher standard of living. The challenge going ahead is that most of the sectors would require more skilled workforce than the present.

Over the years, India’s higher education system has been strengthened to generate high quality workforce and has been successful not only providing global talent but also attracting students from other countries. However, a gap remains both in terms of infrastructure and quality of higher education. The number of colleges in India have increased by around 4 times during FY01 to FY17. However, the density of colleges measured in terms of availability of colleges per one lakh population in the 18-23 age group is only 28 in FY17. Further, in FY17, out of every 100 young people in this age group, only 23 enrolled for higher studies and for every 26 students there was one teacher. Where we compare these numbers, India stands below most emerging Asian and BRIC nations. If the number of students who drop out or discontinue studies is included, the number of young people obtaining higher degree falls even further. While there are many reasons cited for the drop out/ discontinuation of studies, one of the major one was financial constraint. As per the NSSO survey, average expenditure on technical education in private aided & unaided institutions varied between nearly 1.5-2.5 times of that in government institutions. Low enrollment in higher education and pre-disposition towards pursuing general education leads to skill gap and lower earnings for the young population who enter the job market. The India Skills report reveals that only 48% of the students surveyed across technical and general education domains in 2018, are considered to be employable or are ready to take-up jobs. Going ahead, there will be a rapid change in the skill requirements of all existing jobs as the Industry 4.0 along with other socio-economic and demographic changes will transform the existing dynamics in the labour market. It would thus require transformational and innovative interventions across the entire optics of the higher education system. The private sector along with the government has to bring the change.

Arun Singh Lead Economist Dun & Bradstreet India

I

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Foreword

The Indian education sector is going through a transformation phase. This is aptly reflected by the changing role of the business management institutes. With India emerging as the fastest growing economy, business schools are viewed as the drivers of a knowledge-based economy rather than the only tools of imparting education. There is a paradigm shift in the way business schools are functioning today, as compared to a decade ago. The onus is on them to provide career skills and not just degrees. The focus is to produce skilled, job ready employees who are more efficient and effective in solving problems. The emphasis is to create solution centric employees, capable of transforming from ‘managers’ to ‘leaders’ over a period of time.

Institutes are proactively focusing on acquiring accreditation that provides them with a self-evaluation perspective on their systems and processes. Collaborations with foreign universities for greater exposure across borders are gaining traction, as such partnerships provide students with more opportunities to expand their knowledge and skills. By using digital technology institutes are ensuring that even students in remote areas can avail the benefit of their academic programmes. Further, management institutes are also playing a key role in skill development, especially for the working age population by offering their programmes through MOOC (massive open online course). The overall success of management institutes is directly linked to how fast they can adapt to the changing times. Institutions are now identifying niche areas such as entrepreneurship, analytics, sports management and telecommanagement to name a few that are redefining the business world. In ‘New India’ institutes have a much bigger responsibility, not only of imparting education, but ensuring that the right type of education is delivered at the right time to the right people. They are playing a key role in meeting the industry requirements and the future of the nation’s economy is directly linked to the future of the business management schools. We, at Dun & Bradstreet, keep track of the important developments related to B-schools. This publication is a compendium of the important developments in this sector. We look forward to receiving your feedback and suggestions.

Nayna Banerjee Leader Marketing, Communications & Learning & Economic Insights Group Dun & Bradstreet India

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Executive Summary

It gives me great pleasure to launch the ‘ Leading Business Schools of India 2019 ’ featuring the prominent institutions across India offering full-time post graduate (PG) management programmes. These include institutions recognized by All India Council for Technical Education (AICTE) or University Grants Commission (UGC) or Ministry of Human Resource Development (MHRD) and autonomous institutions as well. The publication profiles 181 institutions providing details about their management programmes and a listing of 14 institutions. Further, it also provides an overview of the B-Schools in India giving details about the sector’s key indicators and the trends impacting it.

To get a greater understanding about the PG management scenario in India, Dun & Bradstreet analyzed key parameters based on data available from the All India Council for Technical Education (AICTE). The key findings are - • In 2017-18, there were a total of 5,504 AICTE approved institutions offering PG programmes related to engineering and technology, management, applied arts , computer applications etc. • Of these, there were 3,233 institutes offering PG management programmes which accounted for the highest share of 60%. This is a testimony that PG management as a career builder or as a tool for re-skilling still holds good today too. • In terms of institutional category, it is highly skewed with nearly 90% of the 3,233 institutions belonging to the ‘unaided-private’ type. • Similarly, the regional distribution is also skewed with 10 states accounting for nearly 85% share of the total PG management institutes. • India has emerged as the fastest growing economy and strengthening the higher education system could prove to be an important element in sustaining the momentum. In fact, the number of new AICTE approved PG management institutes opened has nearly doubled from 23 in 2015-16 to 47 in 2017-18 – a strong testimony of the demand for management programmes in the country. • As a progressive developing nation, we take great pride in gender equality across various areas including education. So, in terms of enrolment, it is encouraging to know that the share of enrolment of females for PG management courses has gone up from 37% in 2015-16 to 40% in 2017-18. With the demand for quality education on the rise in a fast growing economy, management institutions are in a transformation phase. The government is also taking several initiatives such as the opening of 141 Universities, 14 IIITs, 7 IIMs, 7 IITs and 1 NIT. Keeping in mind the key role that management institutions are playing in national development Dun & Bradstreet will continue to support the sector through its various initiatives.

Naina R Acharya Leader Learning & Economic Insights Group Dun & Bradstreet India

V

Methodology ‘ Leading Business Schools of India 2019 ’ is Dun & Bradstreet’s recognition of the prominent business schools in India. To participate in the publication, institutions were required to have recognition by All India Council for Technical Education (AICTE) or University Grants Commission (UGC) orMinistry of Human Resource Development (MHRD) or functioning as autonomous institutions. Other eligibility criteria for participation include - • Institutes should be conducting full time post graduate business management courses • Institutions must have to their credit at least one passed-out batch of full time post graduate business administration students in 2018 • For academic year 2017-18, institutions should have a minimum enrollment of 25 students for full time post graduate business administration program We adopted a combination of primary and secondary research to form the initial list of management institutes. The process is mentioned below: Secondary Research : Secondary research was based on data available from the AICTE and Ministry of HRD Primary Research : To invite nominations, questionnaires were sent out to various business schools sourced from AICTE, MHRD, UGC and Dun & Bradstreet’s internal database. Additionally, mass media channels such as an advertisement in a leading business news daily and emails were used to invite participation in the publication. Every effort was made to reach out to all business schools and ensure that they respond to the questionnaire. The publication is categorized into three sections - Section 1: Leading Business Schools (Institutes fromAICTE list as well as nominations sent by B-schools which are AICTE recognised) First, secondary research was conducted and it was based on data available from AICTE. We compiled a list of AICTE approved institutions offering full time post graduate management courses for the year 2017-2018. Then we added to them all the B-schools who self-nominated themselves through the nomination process. Finally, a consolidated list was prepared from the AICTE list and the nominations received. To this consolidated list, we applied the Dun & Bradstreet proprietary model. Key academic indicators for 2017- 18 that were used for computation included student intake capacity, student enrolment, number of placements, placement ratio (total students placed as a percentage of total students enrolled) and NAAC ratings among others. Institutions with a score of 70 and above and primarily offering post graduate full time management courses were selected to be profiled. Section 2: Leading Business Schools (Institutes from MHRD’s National Institutional Ranking Framework) The management category of MHRD’s National Institutional Ranking Framework (NIRF) provides a list of top 100 ranked institutions. This section profiles institutes from the top 100 ranked list which are not featuring in section 1. Section 3: Listing of Featured Institutions (Nominations which are not a part of Section 1) This section provides a listing of institutions which had participated by sending their responses respective questionnaires but are not a part of the section 1. The shortlisting process in this section was similar to the process mentioned in section 1.

VII

Institutes which are closed / unapproved /derecognized / appearing in the list of fake universities / affiliation or management programmes are suspended by AICTE or UGC or MHRD, or facing governance issues have been excluded from the publication. Details about the Profiles of Leading Business Schools of India A standardised format has been used for reporting the information on the business schools. For institutes with multiple campuses which are featuring in the publication, the institute name is followed by the specific campus location. Institution ‘type’ is mentioned as per the data available from AICTE for 2017-18 or as provided in the questionnaire. Institution ‘Recognition’ is as per the information available from AICTE (2017-18) or as provided in MHRD or UGC list. National Assessment and Accreditation Council (NAAC) accreditation is mentioned as provided by the institution on its website or appears in the list of institutes provided by NAACwhose accreditation period was valid as on 02/11/2018. All information mentioned in the institution’s profile, including its name, has been taken from the respective websites. Each business school featured in the publication has been allotted its unique identification number (D-U-N-S® - Data Universal Numbering System). This will help readers locate and obtain full-fledged information reports on these business schools from the Dun & Bradstreet database. ‘ Leading Business Schools of India 2019 ’ will provide a platform for academicians and policymakers to come together to discuss various aspects of the education sector. We would be pleased to receive your valuable feedback and suggestions.

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IX

OVERVIEW OF BUSINESS SCHOOLS

Overview of Business Schools

Introduction India is passing through a transformation phase and all elements of the economic ecosystem are expected to play a key role in its development. In such a scenario, management studies and practices are assuming greater importance in today’s dynamic business environment. It is an indispensible tool to bring about effective and efficient organization and utilization of human and material resources, and to direct them to accomplish the particular goals of an organization. In an increasingly competitive environment, where resources are becoming scarce, optimal deployment of resources is critical. Besides, good management practices also help build the society through improved goods and services, reduction in wastage of resources and generation of employment and other opportunities. In short, business management institutions can be considered as the gateway for India’s economic development. In India, post-graduate studies in management being part of higher education come under the ambit of Department of Higher Education, Ministry of Human Resource Development. The bodies associated with management education are – All India Council for Technical Education (AICTE) : The AICTE was constituted in 1945 as an advisory body in all matters relating to technical education in India. It is the main body responsible for the planning, co-ordination and regulation of management education in India. University Grants Commission (UGC) : The UGC was established in 1956 for coordination, determination and maintenance of standards of teaching, examination and research in university education. The departments or faculties of management institutes refer to the UGC for allocation and disbursal of funds, recommendations for improving quality, institutional support, collection and furnishing of any information etc. Accreditation Bodies : The National Board of Accreditation (NBA), established in 1987, is the prime body for accreditation of management programs. Effective Jan 2010, it has been granted an autonomous status for ‘assurance of quality’ and ‘relevance of education’. The National Assessment and Accreditation Council (NAAC) also awards accreditation to management institutions in India. Other than this, the All India Management Association (AIMA) is a key body for professional management in the country while the Association of Indian Management Schools (AIMS) forms the largest network of management schools in India. Other important bodies include the Education Promotion Society of India (EPSI) and the Directorate of Technical Education in various states. As of 2017-18, there existed 3,233management institutes recognized by All India Council for Technical Education (AICTE) offering MBA and post-graduate diploma courses across the country. These account for nearly 60% of the total AICTE approved institutions offering post graduate programmes. Further, the number of new AICTE approved PG management institutes opened has nearly doubled from 23 in 2015-16 to 47 in 2017-18 – a strong testimony of the demand for management programmes in the country. However, challenges still exist. For example, over the past five years, the number of AICTE approved management institutes has reduced significantly, down from 3,740 in 2013-14. Also, the classification and regional distribution is highly skewed. Key Indicators of Business Management Schools Business management still in demand but need to address challenges

XII

For example, nearly 90% of the 3,233 institutions belong to the ‘unaided-private’ type. Only 10 states account for nearly 85% share of the total AICTE approved PG management institutes with Uttar Pradesh, Telangana, Maharashtra, Andhra Pradesh and Tamil Nadu as the top five states.

AICTE Approved Management PG Institutes: Total Number, New and Closed Institutes

1000 1500 2000 2500 3000 3500 4000

0 10 20 30 40 50 60 70 80 90 100

0 500

2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 Total Institutes New Institutes

Source: All India Council for Technical Education (AICTE)

Female students’ enrolment on the rise Total intake of all the institutes has shown a downward trend, which can be attributed to the declining number of operational institutes. While the total intake of students amounted to 393,043 across all institutes for 2017- 18, only 2,37,889 students took admissions, pointing to vacant seats in many institutes. If we look at the gender composition, the number of female students enrolling for PG management programs has been lower than their male counterparts. In 2017-18, a total of 96,224 girls took admission in post-graduate programs while the corresponding number of boys stood at 1,41,665. But it is encouraging to know that the share of enrolment of females for PG management courses has gone up from 37% in 2015-16 to 40% in 2017-18.

Enrollment: Girls vs Boys

100000 150000 200000 250000 300000 350000 400000 450000 500000

0 50000

2013-14

2014-15

2015-16

2016-17

2017-18

Total Intake Girls' Enrolment

Boys Enrolment

Source: All India Council for Technical Education (AICTE)

XIII

B-schools need to focus on employable skills for job readiness to bridge the skill sets gap In terms of performance, out of 2,34,321 students who took admission in PG management course in 2016-17, only 1,79,704 passed. The trend, however, is not new; if we look at the student performance over the last five years, there exists a gap between the number of candidates enrolling for PG management courses and the successful ones in earlier years too.

Students Passed v/s Placed

300000

250000

200000

150000

100000

50000

0

2013-14

2014-15

2015-16

2016-17

Total Students

Students Passed Placements

Source: All India Council for Technical Education (AICTE)

As for placements, the number of candidates getting successfully employed through campus interviews turns out even lower. Out of the 179,704 who successfully completed the course, only 106,022 found placements in the industry. Historically too, not all students who have completed PG-Management courses managed to get campus placements. One of the reasons for this gap could be the lack of employability skills among these graduates probably because of lack of competent faculty and industry training facilities. As a result, graduates from these schools lack practical skills and are far from being employable. Emerging Trends In the wake of rapid globalization and advancement in technology, business education, like any other stream of education, is undergoing significant changes across the world. Some of the recent trends are discussed below – Online Education : Online learning has opened up access to distant universities, even beyond borders. Massive open online courses (MOOCs) are fasting gaining popularity, with leading institutes coming to the fore. IIM Bangalore operates individual MOOCs and Micro-Masters programs covering various topics from core management to advanced and specialized offerings. Online Assessment : As e-learning expands, the need to have more reliable, convenient and quick assessment is also on the rise. Giving out results in almost real-time with detailed analysis pointing out both the strengths and weaknesses of the candidate, online assessment has become an indispensible tool in the evaluation process. Contemporary Subjects : Keeping pace with the changing times and demand, business schools have updated their curricula and introduced new subjects that are more relevant to the modern times -Lifestyle Design, Mass Affluency Dynamics, Visual Merchandising to name a few. Big Data Analytics has also been making waves across industries. A large number of institutes are offering short duration intensive courses on the subject, given the far-reaching implications big data/internet-of-things is likely to have on all spheres of human life and business.

XIV

Another subject gaining traction in India is entrepreneurship. According to Nasscom, startups in India grew 108% in 2018, with total funding increasing twice-fold from $2 bn to $4.2 bn in 2018. Given the massive interest, the subject is being covered widely by most premier institutes. The Way Forward The way business is conducted has changed drastically and business schools need to adapt to this changing environment. For example, we are witnessing the emergence of protectionist measures across borders. Technology is at the core of each business strategy for greater level of efficiency. Employees are expected to reskill to adapt to the changing needs of the businesses. In short, business management studies in India need to undergo structural changes; whether it is the curriculum, which needs to be refurbished tomeet the industry demands; or the faculty, who need to be trained to equip students with employable skills; or the regulations, which need to be re-formed to put in place stringent requirements for establishment of new institutes as well for the admission and evaluation process of the courses being offered.

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EXPERTS’ VIEW

Leading Business Schools of India 2019

CMR University Executive MBA Program-Leadership, Innovation and Sustainability

Prof Drs Marianne J Franzen Director – Executive Programs

In a dynamic business environment, what challenges and opportunities does an aspiring management student face? In today’s global world business is all about people. People with different backgrounds having one ambition in common: to achieve their own dream while adding value to society and supporting others. Working for an organization and achieving its goals and targets brings challenges but also opportunities. However, there needs to be a fine balance to achieve the organizational ambitions and to make your own dreams happen simultaneously. Everybody needs support in taking next steps to achieve their dreams whether personally or professionally. Support in the sense of refreshing existing knowledge, reviving and building international experience and triggering (hidden) competences. Leadership, entrepreneurship and professionalism are required to have a global and sustainable outlook.. What are the differentiating factors for CMR University to stand out from its peers? One main condition to support young professionals successfully is the ability to understand their world view, background, working environment, dilemmas, and doubts. Another factor is to close the gap between current academic programs and the professional need of organisations (MNC’s, SME’s and NGO’s). The need for constant interaction, brainstorming, and reflection which is why CMR University developed an Executive MBA in the form of an ‘academic training’. Students will increase their research capabilities, analyse real-life business cases, develop scenarios and experiment with change and different leadership styles. A student may not be fully aware of his or her competences yet therefore the program focuses on triggering these hidden competences. 18 months, 6 semester, 15 courses and 3 study-trips (one abroad and two in India) form the backbone of the Executive MBA. To be able to access the program students will have to write their own business case: what is an actual problem in my organization? Various scenarios will be developed after which one scenario will be implemented in the organisation itself. To test the created roadmap in his or her own organisation and to be able to monitor the progress is a great learning experience. The MBA program was developed through a variety of experimental learning methods and through learning on-the-spot. The program ends with a dissertation to be judged by a panel consisting of a mix of corporate and academic professionals. This is how we try to bridge the gap between academics and corporates and support young professionals in developing the right (leadership) style(s) for their next step. How can management institutes play the role of a catalyst in empowering the people and nation? That’s the real question inmy opinion! All educational institutes have the responsibility to support, guide and train people. It is our responsibility to show people how to survive in today’s changing world with the right amount of confidence to achieve their dreams. From my point of view, we all deserve an MBA in life, and teachers, professors and mentors are there to support them in this journey. The corporate world consists of competition and the drive to innovate – which is the environment of every professional to get the ‘job’ done and to add value to society. In my view, management institutions have to provide the right set of tools with the latest technology to be able to survive in the people’s business. However, if we, as management institutions, don’t understand the real world how can we support and guide students to achieve their dreams? We can only guide by showing modelling behaviour in building theoretical and empirical knowledge. We should question ourselves: do we have an MBA in life?

E - 2

Experts’ View

Leading Business Schools of India 2019

School of Management, Bennett University

Nilanjan Banik Professor, School of Management, Bennett University

How has the educational landscape, especially for management institutions, changed in the past couple of years? Every year, around 12 million Indians enter the workforce while less than five million jobs are created. Why is around half the population not able to find jobs? The answer lies in the curriculum because machines are taking over jobs in this age of 3D printers and robotics. However, what majority of academics teach are rote learning, taking a leaf from what the standard guidelines suggest. For management institutions to survive and excel, there is a need for changing curriculum that is industry-friendly and stresses importance on developing cognitive skills. There is a need for organizing live workshops and go beyond classroom teaching. This will make our students employable. There is a paradigm shift happening with more corporate-backed universities coming up and trying to fulfill this requirement. What steps has your institute taken to adapt to the changing dynamics of today’s business environment? It’s extremely heartening to note that Bennett University’s School of Management follows an outcome-based curriculum. Hard outcomes, in that. SOM follows a 4-layered CASE approach – with Core Courses, Attitudinal Building, Service Orientation and Experiential Learning - to have pronounced outcomes that can complement companies’ requirements. Several experiential learning initiatives – driven throughPEACE (Personal Effectiveness Alignment for Career Enhancement) and CLASS (Career and Leadership Alignment for Students’ Success), for instance, have been designed to equip the students with the requisite skills. If curriculums are not designed for hard outcomes, what else are they for? Coupled with the experiential learning, the students at SOM are trained on cutting-edge databases, data mining tools and data visualization architecture platforms. We are also going in for faculty immersion programs, wherein our faculties spend time in the industry. In this fashion, we intend to bring industry experience in our classroom teaching. How can the skillset gap between the workforce and industry requirements be plugged? There is a need to move away from textbook learning. Taking help of new age technology may help. For instance, I post videos and news items related to the course that I teach in my twitter handle. Likewise, exposing students to TED lectures is important. To make students industry ready, we are training them to use software such as R which is required for new- age jobs. Foreign collaboration is also needed. However, one must be careful about the kind of association a university has. Instead of merely touring the partner campus, students should be able to earn credits for courses taken at partner institutes. What challenges and opportunities do you see for the Indian B Schools in the current environment? The challenges, I guess, will come if the universities only go in for the numbers rather than putting emphasis on quality. This is true for both students and faculty intake. Unfortunately, most private universities around us are for short-term gain rather than how to transform them into quality institutes of repute for the future. As India continues to grow there is a great demand for quality education. Most of the widely acclaimed universities in the world, for instance, Stanford and Harvard, are private. We should take their learning experience and try to build the Institute of repute that we can all take pride in.

Experts’ View

E - 3

Leading Business Schools of India 2019

K. J. Somaiya Institute of Management Studies and Research (SIMSR)

Prof. (Dr.) Monica Khanna Director and Marketing Professor

Having spent over two decades in the education industry, how do you see the educational landscape, especially for management institutions, change in the past couple of years? The education sector has become completely market driven. Just like there have been disruptions in various sectors of the industry, the education sector has also witnessed major changes. The education sector is no longer insulated from the marketing and competitive forces. The consumers (prospective and current students) are completely led by various marketing related information and have plethora of choices in the form of institutions and career options. The biggest change is the infusion of technology and disruptive innovations in the form of online education. The pressure on employability, requirements of industry 4.0, and globalization has made management education very challenging and dynamic. The education sector has become the key link between the student and the industry and both are looking for outcomes in the form of employment and employability. Students are looking for employment opportunity whereas the industry is looking for employable graduates. The role of the faculty has become critical in imparting the right knowledge to the students. Rapid rejuvenation of knowledge by faculty is very important. The challenges and opportunity are there for every B–school. At the end of the day it’s all about creating value for all the stakeholders. • Creating platforms where industry, alumni, students, faculty and the community can interact with faculty through Seminars, Conferences, Guest Lectures, Industrial Visit, International Immersions and Experiential Learning Initiatives. • Investing in building latest pedagogical tools and continuous updation of curriculum. • Developing meaningful engagements with the alumni. What are the differentiating factors that sets you apart from your peers? With India emerging as the fastest growing economy, we have realized that the role of business schools has accelerated greatly in terms of the scale and diversity to meet the needs of the industry. For example, as a part of the curriculum we have innovative topics related to entrepreneurship, rural marketing, venture capital financing to name a few. Further, we also tend to focus not only on creating able managers but leaders too in the long run. All such efforts have translated in strong benefits for our students who are placed across diversified sectors viz – banking and insurance (31%), IT (20%), financial services (16%), consulting (10%) etc. We consider summer internships as the foundation for choosing the right career and go to great lengths to ensure that students get the necessary exposure at the right time with the right organization. In 2018, the highest stipend for summer internship was at ` 1,45,000/- per month and the average stipend stood at ` 18,700 per month. A strong internship programme is directly proportional to good job offers. Nearly 93% of the students finalized their job placements and about 82% students for summers got their assignments in place as early as December, 2018. With nearly 100 reputed recruiters visiting SIMSR in 2018 for final placement, the average salary of the Top 100 offers stood at ` 13.05 lacs p.a. and the highest salary at ` 27.50 lacs p.a. (as on Dec 2018). What steps has SIMSR taken to adapt to the changing dynamics of the economy? • Relentless focus on quality and retraining of faculty.

E - 4

Experts’ View

Leading Business Schools of India 2019

Central Institute of Business Management, Research & Development

Dr. Amishi Arora Director

How has the educational landscape changed? There has been a mushrooming growth of institutions in higher education, particularly in engineering and management education. This has led to more supply than demand, because of which institutes have had to make many compromises for getting admissions, which has in turn led to dilution of education at all levels in the higher education category. What steps has your institute taken to adapt to the changing dynamics? With respect to our institute, we understood the situation early enough to caution ourselves of the repercussions & impending traps. Even though our Institution is now 25 years old and we stand tall as compared to the new Institutions which have mushroomed up, there are always chances of some repercussions which even institutions like ours have to face due to unethical practice of other new organizations. However, this also gave us the opportunity to identify ourselves as a distinct institution, an institution which follows a quality policy and one which does not succumb to the unscrupulous ways even in lean periods. We did not look at expansion, instead we consolidated, resolving to enhance qualitatively without compromising on the investment in resources. We focused more on ‘field immersion activities’, thus giving our students the much needed practical training in all most all subject areas. We adopted to embracing technology in a big way-using social media to connect with students, e-resources, video conferencing, online submission of assignments, using softwares to administer & monitor and also extensively utilizing the information & content from education portals. What is the role of your institution in encouraging research and innovation? Our Institute has a recognized research cell, recognized by RTM Nagpur University. The basic activity of this cell is to facilitate Ph.D. guidance for Ph.D. aspirants. There are regular researchmethodology and statistical tools usage, workshops conducted not only for the enrolled aspirants but also for in-house students and faculties. Besides this there is a biannual research journal published by the institute which is peer reviewed. There is also an annual compilation of the research papers received from various other persons other than those of our institute during conferences and seminars in the form of a book. We have the practice of having people from the industry as mentors and guest faculties and some of the good lectures are recorded and made available, by way of knowledge management. What challenges and opportunities do you see for Indian B-Schools. Everyday is a challenge. Each day to me is a fire fighting day, with varied issues cropping up from each corner. A well oiled administrative machinery and proper planning along with monitory systems in place help us sail through. It also gives us the confidence to face the future challenges – we try to overcome our weaknesses and capitalizing on our strengths. But the scenario for Indian B-Schools is extremely challenging as now we have to look at developing the skill sets for Industry 4.0. Today’s student is looking for a different course and is moving away from the conventional courses. He is looking for an approach which is more skill based, balancing practical work and theory. He is looking for an earn & learn opportunity and he considers his teacher more as a facilitator. Today any student can learn anything free of cost from various education portals, so classrooms, books are slowly going to be replaced. Even the role of teachers is going to change and we all need to gear up for the changing times.

Experts’ View

E - 5

Leading Business Schools of India 2019

IBS Mumbai

Y K Bhushan Senior Advisor & Campus Head

How has the educational landscape, especially for management institutions, changed in the past couple of years? In a fast changing world of work, where technology, digitalization and artificial intelligence are changing business models and jobs, management education will see an increase in globalised curriculum that blends digitalization and analytics in every stream, be it Finance, Marketing, HR or Operations How has IBS Mumbai adapted to the changing dynamics of the economy? Over the years, ICFAI Business School (IBS) has made every effort to ensure relevance of the PGPMprogramby maintaining academic rigour through 100% case-based and action-oriented learning, a dynamically customised curriculum matching industry requirements and a highly competent faculty. The process of preparation of students to make them placement- ready has been completely revamped and as a result our students are placed in many leading and emerging organisations. IBS is proud to have an alumni community of over 40000 across the globe. What measures will you suggest to plug the skillset gap between the industry and the business management graduating workforce? The future managers will need skills that equip them to keep pace with continual change,using technology to play the enabling architect’s role, to plan ‘Fun and Work’ yet profitable and sustainable processes and skills where social media can be gelled with face- to -face communication with all stake holders.

This will require educational institutes to cater to individual learning styles through blended and machine learning approach, opportunities for free interaction and fostering innovation .

As a reputed B School, according to you which are the key attributes for a management institute to be successful in today’s volatile business world? In the coming years, a business school’s success would be measured by how well we enable our students to think out-of- the box and adapt to the new working environment.

IBS will continue to fortify its already strong link with the corporate world. It will bring in new learning techniques, ambience and be in-sync with the changing business environment in which digitalization and analytics play a big role.

E - 6

Experts’ View

Leading Business Schools of India 2019

REVA University

Dr. P. Shyama Raju Chancellor

How has the educational landscape, especially for management institutions, changed in the past couple of years? The rise of Artificial Intelligence (AI) and the evident fast pace changes observed in technology, have set new benchmarks that have made the need for education to get more industry centric. The impact of this emergent new technology has taken the business world by storm. Start -ups, expansion of existing businesses, individual professional expertise all call for not only technology grasp but management driven technology application. As such this vast industry has been creating a huge demand for whizzes in technology and management both. B- Schools across the world have been the quickest to adapt to rapidly changing trends in technology, becoming the most naturally willing candidates in introducing and implementing it. What steps has your institute taken to adapt to the changing dynamics of today’s business environment? The onus of providing a super specialized workforce falls on Universities. REVA University, located in Bengaluru, is an extensive space that has expanded in the last decade not only branching out in knowledge generation and pedagogy but also in working with Industry on a global platform. REVA University has been engaged in the pursuit to employ these trends and make them available for its students in learning, as subjects and in bridging the gap between campus and corporates. The REVA University, School of Management Studies, offers a plethora of specializations with Industry assimilation and infusion of current technology movements. The MBA program has been designed to give the student the flexibility to choose from various specializations. One of the differentiating features of the curriculum is the range and depth of electives, which are industry-specific where rigor and relevance are appropriately balanced, resulting in greater employability of the graduates. Catering to the compelling and advanced needs of industry relevant degree, REVA – RACE (REVA Academy for Corporate Excellence) also offers Executive MBA to working professionals looking to chart out with super specialization in subjects germane to the future of the corporate; Data Management, Applied Statistics for Businesses, Machine Learning, Big Data Analytic, Supply Chain Analytics and more. How can the skillset gap between the workforce and industry requirements be plugged? The major contributor to the confluence of ready workforce that is streamed every year to the industry is provided by Institutes and Universities. As such Universities become the training ground for “Industry readiness”. This group of youth is often found wanting and the gap between what is taught and what can be applied can only be done at Universities. To begin with, getting Industry experts to teach and having academicians and teachers that have industry exposure is the best way to have material and classroom discussions that are relevant. The curriculum being designed in Universities must be constantly updated to stay abreast with local to international trends in technology and corporate, a practice that is an integral part of REVA University. Students must also direct interaction with their study material to enable pragmatic and hands on learning with live projects, technological and innovative leaps with students taking the precedence and hands on learning. Early internships, like provided at REVA also plays a major role in advancing not just theoretical but also practical knowledge.

Experts’ View

E - 7

Leading Business Schools of India 2019

E - 8

Experts’ View

LISTINGS

Alphabetical Listing

Leading Business Schools of India 2019

L2

Leading Business Schools

Sr No Institute Name 1

Acharya Bangalore B School

2

Acropolis Faculty of Management & Research

3

Adhunik Institute of Productivity Management & Research

4

Aditya Institute of Management Studies and Research

5

AISSMS Institute of Management

6

Akemi Business School

7

Al-Ameen Institute of Management Studies

8

Apeejay School of Management

9 Asian Business School 10 Astha School of Management

11 Atharva Institute of Management Studies 12 Balaji Institute of International Business 13 Balaji Institute of Management and Human Resource Development 14 Balaji Institute of Modern Management 15 Banarsidas Chandiwala Institute of Professional Studies 16 Berchmans Institute of Management Studies 17 Bharathidasan Institute of Management 18 Biju Patnaik Institute of Information Technology & Management Studies 19 Birla Institute of Management Technology 20 Birla Institute of Technology 21 C. K. Shah Vijapurwala Institute of Management 22 Chetana's Institute of Management and Research 23 Chetana's Ramprasad Khandelwal Institute of Management & Research 24 D Y Patil School of Management 25 Delhi Institute of Advanced Studies 26 Doon Business School 27 Dr. Ambedkar Institute of Management Studies and Research

28 Dr. D. Y. Patil Institute of Management & Research 29 Dr. D. Y. Patil Institute of Management Studies 30 Dr. V. N. Bedekar Institute of Management Studies 31 Durgadevi Saraf Institute of Management Studies 32 EIILM, Kolkata

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