[Challenge:Future] EARNING WITH LEARNING IN MANAGEMENT
Team name: innovative student
1.Vivek vaghasiya (MBA Pursuing )
(Heart of Real Education System PGPM)
WHATE WE FACE TODAY IN A
PG IN BUSINESS
*Current ration of unemployability of PG (IN MBA) and
graduate student in India
*In India graduate unemployment ratio are increasing in day
by day. What is rezone behind that is a ????
*not proper education system in India???
*We are believed in book education but market
Expectations are something different????
*4000+ Management institutes in India having intake of
370000+ facing a situation of crisis because of some specific
problems. This Academy attempts to solve these problems by
Providing survival model for these institutes. Another
objective of academy is to introduce a new Experiential
Learning Pedagogy (ELP) to these institutes, where students
can learn through experience along with their MBA program.
Observing downturn in Management education in India, this
experiential approach to management education could be
the only way of providing management education in future
To aware the students about present situation of business
field in India.
(For the purpose of increasing the employability of youth)
To establish an academy where student can utilize their own
thought to become entrepreneur.
Table of Contents
2 Literature Review
3 Model for MBA buster academy
4 MBA buster academy and learning mode of education
5 MBA buster academy and learning theories
6 Low cost industrial solution
7 Application of ELP in other than management area
8 Our marketing strategies’
9 Organization structure
10 Our financial plane
Learning is Experience, Everything else is just an Information.
Nobody would be surprised when we say that Indian economy will be sluggish thermostats,
and it will definitely be in crisis if not focused well now. Just because when we observe that
management education itself is in crisis, how can we expect other spheres of management
and our economy to be renewing and transformational?
Bluntly speaking, those who are teaching management can’t manage their own stability,
how could they teach others to be stable in their Business?
Recently published article in “The Hindu” depicts that “Management education has grown
Quantitatively, but not qualitatively, and contributed too little to the labor-rich but skill-poor
economy” (Patil, 2012).
Profit orientation is mushrooming management institutions like anything quantitatively, but
they have no answer for improvisation of students in forms of knowledge increment, skill
Enhancement and attitude development.
May be one of the answers lies in above mentioned quote by Albert Einstein, where many of
the 4000 management institutions focuses on “everything else (i.e. Information), but
To prove this sentence true another evidence is the international best seller book of Mark H.
McCormack titled “What they don’t teach you at Harvard Business School – Notes from a
street smart executive” (McCormack, 1986). Preface of his book says that any businessman
needs two important things namely
Further he opines that these two will come only after
The problem and solution both lies in-here.
We do not provide management students an opportunity to learn the things through
experience. Properly saying, whatever opportunities we are providing to students for
experiencing the corporate life through Summer Internship Projects (SIP) or other tools is
may not be enough for today’s highly competitive, changing and hyper turbulent
MBA buster academy – Post Graduation Practices in Management could be one of the best
solutions to these problems where students will be having an opportunity to consistently learn
the things practically through Experiential Learning Pedagogy (EPL) for two years along
theoretical pedagogy for seeking important information about their field.
: Literature Review:
There had been many of works done regarding problems in management education and re-
orientation for the same.
*Herminia Ibarra and Urs Peyer (2010) declared the list of the Best 50 CEOs of the world in
Harvard Business Review. The review says that only 14 (merely 28%) out of these 50 CEOs
are having formal management degree while 36 (staggering figure of 72%) are not having
formal management education. (The Best performing CEOs in the world’s Harvard Business
Review, January-February 2010, Page 104-113)
*Mark H. McCormack advocates “Street Smarts” in his book “What they don’t teach you at
Harvard Business School”. Here, street smart means having an ability to make active and
positive use of your instincts, insights and perception. Can you really apply gut reactions to
business? Perhaps not totally, but what you can learn may not the result of management
education but the result of street smart thinking which again he says that comes “only after
experience”. (McCormack, 1986)
*More recently, Vijaykumar Patil also criticizes contemporary management education in
India with the element of “Skill quotient”. Which he says is not appropriately addressed to
add value to the education. In turn, this can be solved by Experiential Learning Pedagogy
(ELP) to Management Education. (Patil, 2012)
*Hercules Visser submitted Ph.D. thesis in “transformation of management skills of
engineers” at Rand Afrikaans University. This research agrees that there is a difference in
leadership style between experienced and inexperienced engineers in South Africa. It was
found that experienced engineers in Eskom were more transformational, more transactional
and having better managerial skills compared to inexperienced post-graduated engineering
students at the Rand Afrikaans University. This study helps us to impart managerial skill
through PGPM in engineering students of India. (Visser)
*Henry Mintzberg (1973), in his book “the nature of managerial work” (cited by
Robbins,2003) provided ten roles of managers for increasing managerial effectiveness,
which can be divided into interpersonal roles, informational roles and decisional roles. In
order to play these roles effectively, managers need some sets of skills: Robbins (2003) also
cited Robert Kaltz’s three types of managerial skills, which includes technical skills, human
skills and conceptual skills. As known commonly, all of these three skills can be imparted in a
better way through experience than just classroom teachings. It also supports the ideas
presented in the book titled
“Managers not MBAs” written by Henry Mintzberg. (Mintzberg, Managers Not MBAs: A
Hard Look at the Soft Practice of Managing and Management Development, 2004)
*Local newspaper in Rajkot, “Gujarat Samachar” in August 2013 reveals that the number of
vacant seats of MBA in Gujarat. Gujarat Technological University, main body responsible for
management institutions in Gujarat having 132 affiliated colleges having 11,557 intake
capacities fills up only 6218 seats where remaining 5539 seats are still vacant, showing
students facing off towards MBA course. (Gujarat Samachar, 2013)
Even in 2007 through same source of research Chhavi Dang from TNN in his article dated 1
Feb, 2007 reveals that only 23% MBAs are employable, which shows the consistently
downgrading of management education. (Dang, 2007)
: Model for MBA buster academy:
For reducing the problem faced by management education in India, as stated earlier,
solution is Experiential Approach to management education which combines both MBA and
PGPM in MBA buster academy .
In lower tier B-Schools MBA is being almost non-experiential program, where students
generally focus only on theoretical aspects of the subjects. Summer Internship Trainings is
being a Joke, where students take it as a vacation and spends more time at home rather
than on industry.
What is MBA buster academy (PGPM)?
Post Graduation Practices in Management is 100% by nature a practice on some
specified subjects of management, where theory and practice differ in it self. MBA
provides theoretical aspects where as PGPM provides practical aspects.
Example: In MBA, students will “study 4Ps of Marketing” from the book of Philip Kotler in a
classroom settings. Where as in PGPM he will be actually examining Product of some
company, deciding Price of that product, setting up distribution (Place) strategies and
Promotion strategies of that product in actual environment simultaneously through OJT and
Here as we are not at all neglecting theory portion of education, students will do MBA and
OJT for Entrepreneurs
OJT is popular training technique used to train people, to which we call “On the Job
Training”. Management students who want to be entrepreneur in future after their
management degree will be placed in actual business conditions.
They may choose their family business to continue with and run their family business
on beta level along with their management degree. Here, students will have
opportunity to face problem in doing business during their MBA, and those problems
they may discuss with their professors and other experts.
Students will be having an opportunity to put their theoretical knowledge of
business in actual business conditions and test it for betterment. They even can open
a small scale business and take practical know how of starting a business, growing a
business, managing a business and so on and so forth.
PETP for Job seekers
A student who wants to do a job after their MBA will be placed in Professional
Employment for Training Purpose. In actual, students will be pre-placed in a sector
or industry where they want to get a final placement. They will be placed on the
basis of part time/full time depending upon the mode of their MBA. Distance
learners will be placed on full time job, where fulltime MBA students will do part
Here, in PETP student will be 100% focused on where he needs to be trained, what
kind of skills he wants to aquire through his job, in which industry he wants to work,
which sector he wants to look for etc.
This would be module based structured approach to job, not haphazard one, where
focus would be on imparting sector specific and functional skills rather than earning
Example: a student doing MBA with finance wants to go in stock broking field after MBA,
than during his MBA he will be pre-placed in stock broking firm on part-time/full time basis.
He will also have a step by step model for imparting industry-specific skills during his PETP
along with his MBA. After completing his MBA program he will be having theoretical
knowledge of broking field along with skills required in this field.
Mainly PETP jobs starts from trainee level and even sometimes in form of odd jobs in
same industry where he wants job after management degree.
: PGPM and learning mode of education :
Post Graduation Practices in Management can be applied to both the modes of learning,
distance as well as direct.
Direct learning mode
With direct learning mode of management education student who wants to seek job
after management degree will be pre-placed in a part time job format. Where
generally he will study theory from 8.00am to 12.00pm and after that he will do part
time job in same sector/industry where he wants to seek job after course. He may
do this job from 2.00pm to 8.00pm.
In case of students want to be entrepreneur, same as PETP he will have on the job
training after his theory sessions of 8.00am to 12.00pm. he will be in his family
owned/self established small beta version of actual business from 2.00pm to
Distance learning mode
Checking feasibility of PETP, it is certainly more feasible in distance learning mode as
students can easily get full time job than part time jobs.
PETP students will get full time jobs where they want to develop their career after
MBA. Here they can be thought theory sessions on weekly basis. Mostly weekend
sessions for theory will be organized. It could be as…
Sat-Sun: Theory sessions (MBA)
Mon-Fri: Full time Job (PGPM-Practical Sessions)
Students will be on ease and will be much relaxed and stress free because of lower
work burden in both sessions of his program, theory as well as practical.
Same way, entrepreneurial students will do their beta version of business from
Monday to Friday and will have theory sessions on Saturday and Sunday. Here, also
it is more feasible to do business for full time as different industry clients has
different requirements. But on the whole, PGPM looks more appropriate model with
distance learning mode of education.
: PGPM and learning theories :
Many a times it is argued that PGPM model of learning management often hurts the object
of academic learning. Academic results of students are deteriorated because of this.
Providing explanation to these arguments we have two theories in support namely…
1. Social Learning Theory
2. Schema theory of learning
Social Learning Theory
Social learning theory shows that much of the human behavior is either learnt or
modified by learning. Through learning one acquires knowledge, languages,
attitudes, values, manual skills, fears, personality traits and self insights.
Theory believes that there are two ways of learning:
1. Learning through re-inforcement or direct learning experience
2. And learning by observing others, also called vicarious learning.
In both these ways PGPM and Experiential Learning Pedagogy remains on top than
contemporary approach to management education.
In ELP students directly comes in to contact of real situation, where he can learn very
fast than sitting in a classroom. Even if he is not in a real situation but the beta
version or simulation of actual business situation than also he can observe the
business environment form the nearest point.
Here, social learning theorists also believe that since an individual can make use of
complex symbolic processes to code and store his observations in memory, he can
learn by observing the actions of others and by noting consequences of those
actions. (K.Aswathappa, 2008)
Schema theory of learning
Schema theory depicts that when you experience something from external
environment; it is being stored in your schema (part of a brain). Schema has a wide
network in a brain which gives and takes incidents or experience or events to each
other and based on that makes learning process and generates the decision.
Now, when you read the near to same or same concept in a book which you had
experienced in past, It’s being quite interesting as schema recalls that experience
while you are reading. By this reason you can memorize your reading very easily.
Example: a student pursuing MBA with Finance wants to study an option strategy or trading
strategy from his book. He may face difficulty in getting that concept clear in his mind. He
may even try to mug up, as he finds it complex to understand. But if he has already worked
with some broking company in past or having an experience in same field, he sometimes
even don’t need to read a book and will be able to write concept or answer very clearly.
So, it is very important to store the experiences of doing business in your schema (brain)
before you read the actual concept in books of MBA program. After this process it will be
very easy to gain more marks in exam.
So, in actual Experiential Learning Pedagogy (ELP) helps student to enhance their academic
: Low-cost Industrial solutions :
Research of KGIBM(MANAGEMENT INSTITUTE ) stimulus (2010) shows that industry has only
4% technical problems where as 96% problems pertains to management. Here, PGPM
comes in to play. (KGIBM Stimulus paper, 2010)
Industry needs more and more cost-effective models and peoples to do job. Students doing
MBA+PGPM could be their biggest source of low-cost human resources. Students could be
employed for market research, direct sales etc. on initial basis with little or no salary. After
industry realizes potential in student it may give some stipend and can take work as a
On the other hand students doing business may provide low-cost outsourcing services like
tele-calling to industry which can cost a lot if hired professional consultants. Even students
will give whole hearted efforts in doing job as they want to learn. Initial mistakes made by
students can cost industry sometimes, but even that could be nullified by hiring some
trainers or preparing some training modules.
Obviously hiring trainers will cost much lower than hiring consultant or outsourcing from
Here, this ELP model bridges the gap between industry-academia and gives trade-off to
: Application of ELP in other than management areas :
ELP method could be very much powerful if applied in every sphere of education. Partially it
is already there in CA as article ship and some other professional courses but it applied in
totality than it may give some enormous results.
Example: in Gujarat we have 7 million students studying in higher education. (Gujarat, 2011)
If we can apply this mass to industry through Experiential Learning Pedagogy (ELP) to work
for industry at low-cost and works 4 hours a day for industry than we can add 28 million
man hours at work for our industries. And Every year this number could reach up to 10,220
million man hours of young blood of Gujarat. If these students adds gross value (not net
value) of only Rs. 10 per hour to Gujarat state economy than also it can generate Rs.
1,02,200 million to our state economy every year, which is 14% of our Gujarat’s current
Gross State Domestic Product i.e. Rs. 7,00,000 million.
It may look an exaggeration but even if fraction of these mass applied well for work in
industry it can generate double sided benefit of better education to students and low-cost
human resource to industry both.
Market entry strategy
We are started NGO academy. And we are taken a MOU with all the management institution
In India. And we also taken a MOU with the different different industries in part time job for
pursuing MBA student
In first stage we are introducing 3 module of learning stage
Like as a
Module 1 is totally market work out research for marketing student
Module 2 is financial analysis for broking firm
Module 3 for HRM research to the practical industrial HR solution program
Prepared by vivek vaghasiya
Business institute example
OUR ONE MOU COLLEGE EXAMPLE
10 Board of Directors
– 7 active students
– 3 faculties
– 1 outsider
(Founder:vivek vaghasiya )
In every college outsider directors will be same
Rs. 5000 capital from each (BOD)
Prepared by vivek vaghasiya
We want to MOU in first stage with 500 business management institute.
So 500*10 BOD =5000
2,00,00,000 fixed cap INR 5000 X 5000
50,00,000 working cap Equity capital=2,50,000,00
Prepared by vivek vaghasiya
: Bibliography and References :
2010, K. S. (2010). Managerial problems of MSMEs in Saurashtra. Rajkot.
(2012, August). Gujarat Samachar .
Basu, S. (2012, August). MBA employability. Economic Times .
Dang, C. (2007, February 1). MBA employability. TNN .
Gujarat, G. o. (2011). Education sector report. Gandhinagar: Vibrant Gujarat Investment
Hansen, M. T., Ibarra, H., & Peyer, U. (2010). List of Best 50 CEOs of the world. Harvard
Business Review , 104-113.
K.Aswathappa. (2008). Organizational Behavior. Mumbai: Himalaya Publishing House.
McCormack, M. (1986). What they don't teach you at harvard business school. Random
House Publishing Group.
Mintzberg, H. (2004). Managers Not MBAs: A Hard Look at the Soft Practice of Managing
and Management Development. Berrett-Koehler Publishers.
Mintzberg, H. (1973). The nature of managerial work.
Patil, V. (2012). Management education. The Hindu.
Vachhani, D. J. (2012). Need of formal management education for managers. Rajkot:
Visser, h. Transformation of management skills of engineers. Rand Afrikaans University.