Emerging Dimension of Management Education in India

Abstract

Management education is considered as elitist as it attracts young men and women who are usually motivated by the positive consequences associated with management education. In India, higher education, especially management education, is witnessing an exponential growth in terms of number of institutes imparting management education which are usually termed as business school. The management education plays an essential role in today's dynamic business environment. The rapid trend of globalization and technological changes have made difficult for organizations to survive in the competitive world. As a result, the importance of management education has been increased many folds. Business executives need to update their skills due to sudden changes in the external environment. Due to the increasingly complex nature of organization and businesses, there is a need that the business schools impart relevant, currents and cutting-edge knowledge to the students. The business and management education could play a pivotal role in social uplift and triggering the entrepreneurial spirit in a society. The business schools face several challenges in terms of imparting quality education. External environmental forces and stakeholders continuously put pressure on the business schools to adapt the changes happening in the business world. In order to meet the challenges of the future, the reform of the higher education could be unavoidable. The education institutions need to strive to achieve balance between the education cost and the quality.