Innovative research boosts B-School curriculum

In an unpredictable business world, delivering education to students is not enough. Instead, they must be prepared to meet the dynamic and challenging trends of the business market and emerge as successful leaders. Thus, the responsibility entirely falls on the B-Schools and their curriculum to shape individuals who can not only bridge the skill gap but are also aware of their corporate social responsibility.

Steve Jobs was of the view that it is the innovation that distinguishes a leader from a follower. Thus, business schools need to incorporate research and innovation into their curriculum to survive the ever-changing corporate game.

Importance of innovation and research in business education

Earlier, B-Schools focused on delivering theoretical education. Learners were not prepared to manage the challenges of the rapidly changing business world.

Delivering business education may be the primary goal for B-Schools; however, this goal is quite multifaceted and complex, mirroring the complexity of the corporate world. Experiential learning, research and innovation play an essential part in empowering students and employers to effect positive change for businesses and society.

To meet this vision, B-Schools need to prepare not just inspiring leaders but also pave a pathway for researchers and innovators who will have the power to generate ideas and knowledge. Amalgamating and encouraging research activities along with theoretical pedagogy and experiential learning will thus create an ideal curriculum to unlock the true value of business education.

The question that needs answering is, "How can business schools create the most value for students and employers?"

To answer this question, business schools will have to bring together multiple activities - conducting research, teach relevant theories and expose the learners to practice. Bundling these activities efficiently adds value to business education.

Research and innovation are instrumental in enabling students to succeed and ensure the continuing growth of the country. B-schools known for best research reputations have more chances of attracting the best quality staff. When discussing reputation and goodwill, we cannot forget the fact that research and innovation in business practice have the potential to give birth to Nobel Prize-winning ideas.

Along with studying the subjects included in the curriculum, B-schools, nowadays require management students to carry out their own piece of research as a part of their syllabus. The research could either be on a business issue that the students have brought with them or on an existing problem posed by a company. Sometimes MBA students even get the chance to get involved in longer-term research projects that the school is carrying out.

In order to progress towards the goal of building a robust culture of research, business schools are conducting training programmes. Crafted to inspire and ignite the young minds in research, they welcome experts from numerous research laboratories and multinational companies to their campus.

Research and innovation is an excellent way to help students explore their hidden potential while creating innovative ideas. They are encouraged to work on projects under the guidance of their faculty and research mentors. Students also get an opportunity to promote their research at various seminars and become members of professional bodies for the purpose of publishing their work and seek research funds from national funding bodies.

Giving students an edge

Apart from helping them gain a better comprehension of the wide range of topics, on which the students conduct their research, they also gain a sound knowledge of the industry-relevant business practices and social responsibility. Some of these subjects include trade war and effect on GDP growth of the economy, artificial intelligence, and how it affects the job market, corporate sustainability and more.

Students with research publications in their profile have added credentials which give them an edge over their peers. They are thus able to position themselves for success when pursuing job opportunities.

(The author is Chairman, Krupanidhi School of Management)