Namrata Kath Hazarika | 01 Aug, 2008
Despite mushrooming management schools promising to prepare Gen-next entrepreneurs to deal with any corporate situation, many however feel the concepts imparted in these business schools are nonidentical to the real business world.

So are these MBA programmes specially and exclusively designed for executives and do they offer the art and craft of management research to the professional managers, administrators, owners and entrepreneurs? Are these programs designed to enable future entrepreneurs to acquire advanced management knowledge, research skills and holistic assimilation of technological, functional, and strategic issues in order to lead and manage organizations more effectively and in socially responsible ways? SME Times tries to find answers to these questions.

A few management trainees who passed out from couple of top-notch business schools opined that "Practical business world is different from what is taught in management schools."

"I think that the knowledge imparted in the business schools is not similar to the situation one faces while starting a business or working with a corporate house. The person just out of the B-school expects the business environment to be of a different kind i.e. supportive to the requirements of the person, but the situation is utterly different which is due to the lack of practical experience. He faces various problems like capital, lack of practical experience of the industry, problem of infrastructure, etc."

"And the biggest problem is that there is no concrete information on what to start with, how to start, where to go & whom to approach. Moreover, no substantial knowledge is imparted on the regulatory affairs involved in the starting up of a venture, which provides the biggest hindrance."

"B-schools only provides the basic skill sets required to start the venture or work with a firm and the rest is learned on the job," says Rohit Bhardwaj a MBA passed out from IP university.

When discussed the matter with Dr. Sanjay Srivastava, Deputy General of Amity Business School he said, "It is a fact that to some extent the teachings of management schools are different from the practical business world. But at the same time we are trying to match our standards with the real business world."

"For instance the management program at Amity business school unlike traditional business schools includes an overall development of the students on different dimensions. We have various clubs and committees through which the students are groomed on their skill sets. Teaching at Amity is highly practical and focused on what the industry needs as it is evolved through constant interaction with leading professionals who are a part of the Industry and Academic Advisory Board."

He went on to say: "Moreover, there are certain things that a person can learn via practical experience. For instance, a management school cannot teach the trick to click a deal instantly. It can be learned only through practical experience. Business schools cannot teach how to be the master in getting business contracts. It is the managers initiative and business plans that would facilitate his growth and the company's as well. In the business world there are lots of aspects like negotiation, under table agreements, commission, bribes, corrupt bureaucracy etc that are usually under taken. But in business schools this aspects of business are not taught in depth. This is possible to learn when the person have the practical knowledge. The only think that a management school can impart is the basic knowledge of the practical business."

"In the practical world we require work experience and without the work experience the knowledge becomes theoretical in nature. A management trainee would never know the practical aspects of business. He/she should at least have three years of work experience for being an expert in the field of activity," says Kewal Handa, president of All India Management Association (AAMA).

There are many MBA passed-outs who are desperate to own their business immediately after achieving a degree. What kind of education the management schools are imparting to these kind of ambitious students?

In this context SME Times had a conversation with Dr. Anupam Verma, Deputy Director of Birla Institute of Management Technology who opined that, "for Bimtech these are vital aspects that we look forward for giving our support. Bimtech gives a lot of importance to those candidates who want to be a proprietor themselves. We organize conferences and seminars where we invite businessmen who own a small entity or firm in order to give our students some tips for doing future business, independently. From this kind of get-togethers and conferences we get to know what should be included in our curriculum in order to go along with the industry standards. In this way the students of Bimtech can serve the industry by creating entrepreneurs of the future."

"There are many 'My Story' sessions organized with successful entrepreneurs, there are workshops conducted on aspects like 'Idea Generation, Business Plans, etc," says Dr. Sanjay.

Certain business schools also have tie-ups with entrepreneurial development organisations like National Entrepreneurship Network, The Indus Entrepreneur, which promote entrepreneurial behaviour though various activities. They also have a strong network with venture capitalists, investors and successful entrepreneurs who act as mentors for students who aspire to be entrepreneurs.