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New Paradigm In Management Education V1.3
The document discusses the challenges and opportunities of managing the millennial generation (Gen-Y) as they make up a significant portion of the workforce. It highlights the inadequacies of current MBA education, which heavily focuses on functional knowledge while neglecting essential human and environmental factors critical for effective management. A proposed paradigm shift in management education emphasizes integrating people and environment aspects with business knowledge to better prepare future leaders.
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New Paradigm In Management Education V1.3
- 1. Paper for theNational Conference on OPPORTUNITIES & CHALLENGES IN MANAGING THE MILLENIAL GENERATION – INDIVIDUAL, ORGANIZATIONAL & SOCIAL PERSPECTIVES At VISHWAKARMA INSTITUTE OF MANAGEMENT “ A New Paradigm for Management Education” Authors Ramesh Jog (Corp consultant, Mentor and Research student at UoP) Anand Joshi (Managing Director, NobleTek PLM Solutions) Rajendra Sidhaye (CEO, Effectiveness Plus Plus) Sameer Prabhu (VP & Head R&D, Giesecke & Devrient)
- 2. Defining Millennial Generation(Gen-Y) … Individuality Confident Collaborative Open Opportunity seekers Connected, yet Wireless Socially active Adaptable Instantaneous Focus on lifestyle interactive easily bored … and it’s Characteristics Direct Business imperatives … Gen Y is currently ~ 25% of the workforce, and is projected to be ~75% by 2025 . Internet , Web 2.0, Social Networking : Technology has changed the way we do business Middle Management Layer is thinning …may become obsolete in near future Innovation and Entrepreneurship are considered a MUST for survival and growth Today’s businesses require leaders at all levels Management Education needs significant changes for creating Leaders of Tomorrow Global citizens Creative! Individualistic Tech Savvy
- 3. Problem Statement …New Challenges due to Changing Business Dynamics Gen-Y entering the organizations Gen-Y to take managerial roles Gen-X needs to manage Gen-Y Changing business environment Globalization Emerging trends Time Business dynamics Education dynamics Gap in ASK eBay 9-11 Internet G o o g l e i-pad Amazon.com Global Warming youTube Face-book e-Commerce BlackBerry
- 4. About Current MBAEducation Focused overwhelmingly on Business functional knowledge. Human aspects and Environment parts: Only a cursory touch Delivered in a conventional manner that is not effective. Inadequate to make the candidate ready as a manager.
- 5. Inadequacy of MBAEducation is confirmed by: Actual Experience of Authors. Corporate Senior management / Business leaders. What they say about MBA Grads: “ Not ready to start contributing meaningfully to an organization”. “ Overly enamored of analytical tools and not sensitive enough to the human aspects of management or to larger issues like values, principles and ethics”. “ Lack the perspective about their role as a manager and the importance of a framework of values, principles and ethics of doing business in this context”. “ Far from being adequately equipped because of lack of awareness on basic human skills or attitude or personality traits as well as awareness on environmental aspects and organization’s role in society. ” “ The current MBA education needs to be significantly revamped to cover Understanding human nature, the role of emotions in the workplace and how to build productive teams”.
- 6. Conceptualized Solution: A Paradigm Shift From: Current paradigm: “Managing the business needs functional knowledge about the Business” To New paradigm: business consists of the people, managed by people for the people in a dynamic environment. Hence Management education needs to integrate people and environment factors with business knowledge, in a holistic way.
- 7. New MBA Educationshould cover (apart from Business knowledge) (1) Management of Human aspects: Six basic skills: Seeing / Sensing, Thinking, Feeling, Learning, Acting and building relationships Emotion Management Personality Management Physical, Emotional, Professional and Spiritual
- 8. New MBA Educationshould cover (apart from Business knowledge) (2) Environment: Organizational: Values and Culture, Economics and Change External Political Global Ecological
- 9. New MBA Education Recommendations Delivery of Human & Environment aspects Innovative ways Workshop: Learn by Doing Committee of members having right knowledge, experience & skills to decide content & delivery process Significant Members from line managers and some from Academics Review & validation committee having CEOs / MDs
Editor's Notes
- #2 Last line “Organizational and external environment “ The text in “golden” color . Can this be seen? Presentation first page need not have summary like Abstract. Removed.
- #5 Bullet 1 A functional knowledge decided a few decades ago based on dynamics then prevailing or a phrase similar We can cover this while presenting. But are we saying that they don’t update the functional knowledge content of syllabus also? Can it be an over-statement? Manager : Can we replace by phrase like “ Take a lead in business operations “ or “contribute in organizations performance in short time “ Why? Management education needs to produce an effective manager.
- #6 “ Significantly changed “ replaces “significantly improved “ Because we are talking of a paradigm and not improvement Ok. Done. In fact used stronger word: ‘revamped’
- #7 Bullet 1 A functional knowledge decided a few decades ago based on dynamics then prevailing or a phrase similar We can cover this while presenting. But are we saying that they don’t update the functional knowledge content of syllabus also? Can it be an over-statement? Manager : Can we replace by phrase like “ Take a lead in business operations “ or “contribute in organizations performance in short time “ Why? Management education needs to produce an effective manager.
- #8 Bullet 1 A functional knowledge decided a few decades ago based on dynamics then prevailing or a phrase similar We can cover this while presenting. But are we saying that they don’t update the functional knowledge content of syllabus also? Can it be an over-statement? Manager : Can we replace by phrase like “ Take a lead in business operations “ or “contribute in organizations performance in short time “ Why? Management education needs to produce an effective manager.
- #9 Bullet 1 A functional knowledge decided a few decades ago based on dynamics then prevailing or a phrase similar We can cover this while presenting. But are we saying that they don’t update the functional knowledge content of syllabus also? Can it be an over-statement? Manager : Can we replace by phrase like “ Take a lead in business operations “ or “contribute in organizations performance in short time “ Why? Management education needs to produce an effective manager.
- #10 Bullet 1 A functional knowledge decided a few decades ago based on dynamics then prevailing or a phrase similar We can cover this while presenting. But are we saying that they don’t update the functional knowledge content of syllabus also? Can it be an over-statement? Manager : Can we replace by phrase like “ Take a lead in business operations “ or “contribute in organizations performance in short time “ Why? Management education needs to produce an effective manager.