Management curriculum needs an upgrade: experts

A study conducted by National Human Resource Development (NHRD) and IFIM Business School found that 89% of the chief experience officers believe that research and business incubation can provide great learning to students.

The study, based on World Economic Forum’s Report on ‘Future of Jobs’, is a guide for academia to prepare students for Industrial Revolution 4.0. The report could act as a guideline to streamline the curriculum for management students.

Dhananjay Singh, director general, NHRD, said, “India is in dire need of an upgrade in its management curricula to keep up with the rapid transformations across industries globally.”

“The country’s youth are considered one of the most talented resources across the world. The survey will be a platform for corporates in the country to share their views on the skills required for the future workforce. It will guide management institutions to adopt these practices in today’s curriculum to create job-ready and continuously employable professionals. This will keep India’s academia and industry aligned, which has seen a phase of disconnect in the past,” Singh added.

The study also found that 90% of the industry experts believe that holistic development and lifestyle management skills are important for future managers.

The report titled “Curricula 4.0 - Creating Future Managers” has found that management graduates, face a gap between the academic coaching and the industry’s expectations.

The study was conducted by involving about 300 senior managers across 13 industries such as IT, consulting, education and manufacturing. Their advice was sought on assessing the right set of skills for future leaders according to IFIM. The report is an outcome of the study and various discussions that were held with industry experts.

Dr Atish Chattopadhyay, director, IFIM Business School, said, “The 10 needs identified for industry 4.0, along with the insights, will go a long way in aligning the future of business education with the future of work.”

What industry needs

The study found that there is a need for learning orientation and analytical mindset, integration of data, communication and technology, dealing with change and uncertainty, people and team orientation, are among the other factors.

The survey also revealed new trends in the Indian scenario where experts opined that there was a need for continuous learning as against education as start and finish: This involves reskilling of practitioners at various levels.

They have also called for an individualised curriculum to suit the learning styles and career interests of students and also have research as part of the curriculum.