Dr. C S Venkata Ratnam Director IMI (International Management Institute)

» Recent years have witnessed a huge upsurge in number of candidates vying for a place in B-schools in the country? What factors do you think are responsible for this?

Yes, today it seems every body wants to be an MBA. The key factors are the glamour and money associated with a career in management. Unfortunately, today industry is rewarding managerial skills more than engineering and technical skills. Organizations need two tracts: one is the specialist stream and the other is the generalist/management stream. If organizations promote dual track tenures the mad rush to MBA will be more moderate than what it is today.

» With CAT in its new avatar- the online mode, the whole procedure would undergo a sea-change- Like, instead of the current single exam paper, the online test will now carries quite a few different papers of the same level of difficulty. How do you see these changes? What about any tech-hazards or limitations do you feel? (Say intrusion or hacking)

This is the most welcome change if the necessary security systems are in place. It will reduce the stress for the students. In the current system, every thing depended on what happened on a particular D-Day. Now on, like GMAT, the MBA aspirants can take more than one change to prove themselves. On tech-hazards like intrusion and hacking, I feel there is need for full fledged and fool proof systems for dealing with impersonation, hacking, etc. Today it is possible for students to use a mobile to photograph the question paper and get replies through email. There is need for electronic surveillance of test centers.

» Be it Government’s flexible policy or the need of the hour, dozens of private players have come into the picture, how do you see the pros and cons of this newest development?

The question is not just of public or private players. There are extremely good institutions in private sector such as XLRI, MDI, IMI, SP Jain to name a few. There are extremely bad universities churning MBAs.

As for commercialization, IIMs are charging this year more than most private institutions.

The regulation should be not at the input stage but at the output stage. Let the buyer be aware motto prevail. The final test is in placement in a job and career oriented program like MBA.

» How have the business needs of the corporate environ evolved over the years, how effective are our methodologies to address them and how best can management hopefuls handle the newest requirements of the business industry?

Unfortunately management education has not kept pace with the changes in industry and market. Competition, technology, ownership and organizational changes -- to name a few -- have radically altered the way we work and manage our private and professional lives and organizations we work.

The universities traditionally believed their role is to impart education. It is for industry to provide the job related skills. Now industry is asking B-schools to give ready to manage managers. Is this realistic? There are a number of books on what they do not teach in B-schools. IN 2005 Jack Welch was asked by MIT Sloan School students on what they should learn in a B-school. Jack Welch said, "Networking; everything else you will learn on the job".

Today HR Managers and recruiters are saying 'we hire for attitudes and train for skills'. But attitudes are not formed and shaped easily in late teens and early 20s. They are formed before they get into teens.

We need to be realistic, there is a need for continuous dialogue between academia and industry to understand each other and see that both play their roles in mutual enlightened self interest

» What is the recipe (that goes into the making) of a successful and effective business manager?

90 per cent hard work, 8 per cent brilliance and 2 per cent good luck. Prospective managers to cultivate three important aspects which should characterize their personality: Simplicity, humility and integrity.

» What do you feel about SC okaying OBC quota?

It is good. The society needs to be more inclusive. Few people should not garner the benefits of development. The Supreme Court rightly endorsed the notion of creamy layer. I personally feel that the creamy layer definition should be revisited because a cap of Rs.2.5 lakh income is not reasonable.

» It’s surely good times ahead for management education in the country, still a large chunk of aspirants for this field think of management training as a costly affair, what do you feel about this?

There will be a lot of churning in management. Instead of good time, challenging times are ahead. (In Chinese language it could well be a curse). Focus not just on costs, but also on benefits and value addition that takes.

It is true that only one or two in hundred are offering really good management education. If AICTE keeps its hands off and not license substandard institutions with its approvals, the market might take care of bad quality. But this is easier said than done in a country where education is seen as an alternative to unemployment. If prior work experience is mandated, the quality issue can be tackled more easily.

» Do you think the recent fee-hike by IIMs was a necessary move to match up to the global quality requirements?

Not justified. Particularly in view of the sudden and steep rise. Fee alone cannot be the hallmark of quality. One IIM charges RS.1 lakh a day as consulting fee, but pays its senior most faculty, less than Rs. one lakh a month. The big challenge for IIMs is not attracting high quality students, but high quality faculty for whom teaching a passion than a vocation.

» Over the years, it has been noticed, many Indian students flock to foreign shores for management degrees. How do you see this trend? What could be lacking in our own graduates/B-schools?

In many cases those who do not get admission into a good B-school go abroad. Not all foreign degrees are good. Secondly, the cost difference between Indian and foreign degree is shrinking and people feel that exposure to a foreign culture it self could be education in the era of globalization.

We need to bench mark our selves with the top 50 B-schools in Europe and North America which are accredited either by Equis or AACSB. None of the Indian B-schools are accredited by either of them. There is a huge quality gap between the best in India and elsewhere and we have miles to go.

» In your opinion, what role should now be played by country’s GenNext managers both vis- a- vis Indian society and global arena?

Young India needs young managers. This is the message MR K V Kamath, MD and CEO gave at our 24th Convocation Ceremony of IMI last week. It is a boon to be born in India at this time (or 20 years ago). What we need to do is to give them wings so that they can fly. Given the demographic patterns, rest of the world has to work in India or with Indians (along with Chinese) over the next few decades. There are opportunities unlimited. They should have the can do spirit. They can be what they want to be if they aim high and work hard to deserve the place where they want to be. They also need role-goal clarity and strive for work life balance.