Role of stakeholders in delivering quality management education

Management education is dynamic in nature. It is undergoing sever changes after globalization. That's why; good governance is not only limited to corporate world, but also applicable to educational institutions in general and management institutions in particular. It is the foremost responsibility of the government i.e. education system is to design the curriculum which meets the demands of the industry and ensure timely modifications in the curriculum. The government should prepare the curriculum in such a manner, that the student should get the knowledge which is essential to the corporate world. While formulating the educational policies, accountability towards society must be considered. The government should well prepare the code of conduct for educational institutions and students is also utmost important. Delivery of quality management education is possible only with the proper implementations of policies.

Educational institutions are part and parcel of the society and play vital role in the developments of society by connecting the educational system and students. Educational institutions should provide proper infrastructural facilities in the institution for delivering quality education to students. Institutions should also coordinate the institutional functions to ensure the quality management education to match the industry requirements. The foremost function of educational institutions is updating their faculty members.

It is possible by conducting faculty development programs (FDPs), state/national/international level workshops/seminars/conferences. Evaluation of the performance of faculty members and students by using modern psycho metric tools is another important function of the institutions. Institutions should also introduce various new courses which match the corporate requirements. Students should be given wide range of exposure along with the theoretical subject knowledge and practical industry. For this, institutions should a linkage between academic institutions and corporates and foreign universities by entering memorandum of understanding (MoU) with them. This enhances the students' exposure.

Another most important stakeholder in the process of delivering quality management education and meeting new challenges in the education system is faculty. Now, the role of the faculty is changed from traditional teacher to counselor. So, the faculty should be well charged with not only subject knowledge but also with the current dynamic environment. Faculty should have the ability to provide the practical exposure to their students.

Students are the utmost important stakeholder in quality management education policy as they are in receiving end. They should have academic as well as social responsibilities. They should also have qualitative and quantitative analyzing skills for the available information and decision making capabilities. They will be place in a managerial position after their education. So they should acquire leadership skills, teamwork skills, persuasive abilities and strong oral and written communication skills. The best quality of a management student is that he doesn't ask others about the qualities, he finds out from his work for which he/she is going to do the course i.e. MBA program.

All the stakeholders have equal responsibility in delivery of quality education to students to achieve the sustainable development of the nation.

Conclusion

In India, students are choosing management education as their career option. All sectors in the economy which are dynamic and diverse in nature require efficient managers to manage their business operations. A manager should have multidimensional knowledge like commerce, economics, mathematics, quantitative methods, social science, science and technology and so on to manage the operations in the most effective manner. A manager should equip with professional knowledge in particular areas as per the requirements of the organization. For this, all stakeholders, above mentioned in the 7-14-21-28 model of quality management education, are put their efforts at their levels to achieve the quality management education.

(The author is Associate Professor, Dept. of Business Management Vaageswari College of Engineering –

Karimnagar)

(Concluded)