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Introduction
The future of MBA education in India is currently debated and still being determined. Reports from various sources paint a mixed picture of the quality and employability of MBA graduates from Indian Business Schools. According to the All-India Management Association (AIMA), the quality of education offered in many Indian B-schools is substandard, leading to struggles for survival. A study by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) revealed that out of the 5,500 B-schools in the country, only 7 per cent produce graduates deemed employable.
The Plight of MBA Graduates
MBA graduates in India invest substantial sums of money in their education, hoping to be well-prepared for the corporate world and future career opportunities. However, many find themselves in distress as they enter the job market, with salaries ranging from 10,000 to 20,000 per month, and that too only if they secure a suitable placement. This situation is a cause for concern, particularly for those students who couldn't guarantee admission to prestigious B-schools.
Addressing the Challenges
The future of MBA education in India can be secured by addressing the ongoing issues and enhancing the prospects of MBA graduates.:
Enhancing Practical Knowledge through On-Job Training (OJT)
B-schools should incorporate regular On Job Training (OJT) into their curriculum to bridge the gap between theory and practice. This would enable students to gain hands-on experience and better understand real-world business scenarios.
Conclusion
While the future of MBA education in India may appear uncertain due to varying reports and challenges, there are avenues for improvement and growth. By addressing the quality of education, enhancing practical knowledge, focusing on regional markets, and strengthening placement opportunities, B-schools can play a pivotal role in securing the future of MBA graduates.