You have been associated with the Indian management education for over four decades now. What are your key learnings during this period?
I came back from the US in 1967 after completing my doctorate at Harvard University and joined IIM Calcutta as a faculty. Since then I have seen an enormous interest and appetite for management learning in India. While I was teaching at the institute and giving lectures at local chapters of various associations, I noticed that people wanted to learn the latest about marketing management, financial management, human resource management and so on.
However, there was a frustration about implementation because if you notice our economic history, we were a highly controlled Licence Permit Raj until 1991. So a lot of good ideas that Indian managers had could not be fully utilized by them because of being limited by these controls. But the moment liberalization began in 1991, they started using those ideas.
Since then, the industry has become highly compet...
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