- Bharat Bhasker, Director, IIM Ahmedabad, on how the institute has sustained its lead in the rankings over the years and how it’s reinventing itself given the evolution of industry
As the first in the league of IIMs, IIM Ahmedabad has a rich legacy and leading position. What does it take for a leading B-school to continue to be a leader in its domain?
IIMA owes its success and uniqueness to its unwavering commitment to the motto – Vidya Viniyogad Vikas – which means development through the application of knowledge – and it has been the defining cornerstone for all our endeavours, since its inception. Its world-class faculty, its unique pedagogy, its commitment to innovation, and its focus on catering to the needs of the industry and society, at large, are the key factors that set IIMA apart, even after more than six decades since its inception.
Our faculty members ensure that our pedagogy is grounded, in sync with the changing industrial landscape and, therefore, practical. Through their research and industry engagements, they identify real-world challenges and bring this knowledge into the classroom to create opportunities for our students to imbibe practical and responsible decision-making skills.
Another aspect is the pedagogy which has matched its pace of evolution with the changing requirements of the industry. The case method of teaching that we follow allows our students to look at case studies from both the public and private sectors and understand decision-making challenges, policy hurdles and develop sensitivity toward the impact of business decisions on society, at large.
We invest in the growth of our students at every step. We maintain the rigor throughout their journey with us. IIMA can be called a modern-day Gurukul where we nurture and develop responsible leaders who are well-prepped to handle challenges, are entrepreneurial in their approach and are adept at making responsible decisions during crisis. Besides the coursework, students are also allowed to join student clubs, engage in extracurricular activities and even participate in inter-collegiate events to ensure that they develop into well-rounded individuals both on the professional and personal fronts.
The drive to constantly innovate, constantly find new energy and find new ways of doing things gives IIMA the edge. Change is a constant at IIMA. We review our activities periodically and closely work with experts and HR managers from the industry to gather insights and further enrich our offerings and meet the industry requirements.
Also, as we are looking to educate and equip the youth for industry 5.0, what are the expectations that the industry has from management institutes, and how is IIM Ahmedabad reinventing itself, and bringing about changes in its pedagogy and experience that students get on the campus?
The business landscape has indeed changed in many ways and so has the traditional idea of leadership. The industry is now looking for potential leaders who are far-sighted, multi-functional, confident enough to take an entrepreneurial risk for the organisation and possess people skills.
We keep introducing electives and courses based on our learnings from industry engagement. We realise that technology is going to play an integral role in management education in the coming years as it works better with the newer generation. We have infused technology in several aspects of our teaching and learning across programmes to which our students have responded positively. For instance, we also have a 16-month diploma programme on Advanced Business Analytics. Some of the electives we offer are on Digital Marketing, Digital Strategy, Innovation, Digital Transformation, etc. Some other examples of electives that aim at preparing students for real-world challenges include Management of Bio-Pharmaceutical Industries, Regulation in the Financial Sector During Times of Financial Crisis, Real Estate Management, Reimagining Telecom and Next Generation Businesses, etc. Besides these, we are also focussing a lot on the policy domain.
The Centres of Excellence that we have set up at the Institute to promote research, contribute immensely to our curriculum. For instance, now we have dedicated centres for research in areas such as AI and Data Science, Digital Transformation, Transport & Logistics etc. Besides conducting research, our faculty members from these Centres work very closely with the industry and bring their realistic understanding of industry trends, challenges, opportunities, and requirements into the classroom. Our Centres also act as an interface for our students with the industry, as they get opportunities to take up projects, which are highly immersive and contribute immensely to their growth as industry-ready leaders.
In today’s day and age, one of the key factors that can make a business resilient is a workforce that can absorb sudden shocks in case of crises and is adequately equipped in terms of knowledge and skill to drive operations remotely and keep the business going. As a result, recruiters are now looking for candidates who not only possess technical, technological and leadership skills but are also equipped with good EQ and people skills.
What are the biggest challenges that B-schools are grappling with and what would be your solutions to the B-school community?
We are functioning in an industry that is constantly in flux. In the past few years, we have seen the advent of the digital economy, AI, VR, ML, and app-based services changing the landscape of business models. While technology has played a major role in business disruption since the 1990s, business operations to innovations have also been altered fundamentally in the process. Disruptions have occurred in the past and they are only intensifying by the day.
Management education institutes shoulder the responsibility of developing leaders who can keep businesses agile, are innovative and are capable of leveraging emerging technologies in such a scenario and helping their organisations stay competitive and relevant.
Talking of solutions, we as educators must stand firm on the belief that knowledge is the bedrock of all progress and development and for all the disruptions that we will come across in the future, we must know how to apply the knowledge we have gained to harness these disruptions
Currently, the industry needs leaders who understand the extent to which newer technologies can impact businesses and can foresee or even create disruptions that can keep their businesses profitable.
Modern businesses are complex, and managers must also be able to understand these complexities. Our curriculum must focus on the integration of diverse aspects and take a cross-disciplinary approach that offers a wider view of the industry. Furthermore, management courses must integrate global and cultural sensitivities too with an understanding of international markets, supply chain dynamics, managing cross-cultural teams and possible ways to navigate national and global policies
Alongside all of these, a modern-day leader needs to have the ability to drive his business responsibly and sustainably. Our curriculum should provide a view of government policies and regulations, national and global concerns, etc. so that our students develop into responsible business leaders who set the welfare of not just the business but the society, at large, as the core of their business decision
At IIMA, we have established the Centre for ESG Research which has been set up to contribute to the development of the nascent ESG ecosystem in India, help Indian enterprises and organizations integrate ESG into their core business and, most importantly, enrich and keep our curriculum at par with the changing requirements of the curriculum
However, to ensure that we have a balanced view of the changing demands of the industry, we must remember that despite these technological advancements, disruptions and innovation, there will always be human intervention at the centre of all operations. Even as our students strive to achieve their organisational and individual career goals, we must ensure that our future leaders learn to value this humane element. If employees feel valued, they will deliver their best. Thus, human ingenuity should always be valued and nurtured.
What are the key priorities you have set for the institute?
Internationalisation is one of the top priorities for IIMA. We have established ourselves as leaders in management education in India. The logical next step is to establish the IIMA brand, globally. These are exciting times. Foreign universities are already setting up their campuses in the country, which paves the way for collaborations that can enrich our practices and help Indian education institutes synchronise their curricula with the global business environment and bring their offerings to par with global standards.
To match pace with technology-led transformations, we are infusing the technology in our organisation to extend our reach. Also, there will be a renewed focus on ensuring that our curriculum and programmes are in sync with the global business environment.
