KPMG pegs the Indian private education industry at $50 billion and growing rapidly. But, within this industry, the tertiary sector is under pressure today. Rating agency Crisil reported that about 140 schools offering MBA are expected to close this year, as 35 percent of their seats were vacant in 2011-12, up from 15 percent in 2006-07.
As the growth of the economy slows down to the lowest in 8 years, and the percentage of students getting placed straight after completing their course in Indian business schools declines from 41 percent in 2008 to 29 percent this year (excluding students from the top 20 business schools), the question that arises is - what is the topography of a great business school? This issue’s cover story The B-school Divide deliberates upon what it takes to build great business schools and what separates them from those with a motive to only make money.
The long-established elements of good business schools are well known. From attracting the right students, hiring the best faculty that invests in research, establishing a connect with industry by way of training and consulting, and bringing back those learning into the curriculum and teaching, to finally, ensuring access to a network of employers and alumni that facilitates placements and opportunities for students. What is challenging is that business schools must do all of these right at the same time, which usually takes years to master. Additionally, most of these elements are interlinked and drive each other: a school needs to build a reputation over time to be able to attract the best students and hence, the best faculty and the best networks. The integration of research, training, consulting and teaching is what helps business schools compete at the highest level and sustain in the ups and downs of the business cycle.
In this issue, we also highlight how demographics, globalization, technology and democratization of information are changing the workplace. The story Workplace 2030, explores how employers will build new agility in the workplace to manage the increasingly diverse and tech-savvy workforce.
Following the rising interest from organizations in building healthier workplaces, this issue also carries a special on health and wellness. Employers are realizing the need to focus on employee wellness as a long-term value proposition. This special also carries a list of experts in this space for the buyers’ reference.
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