Internationalization of Management Education
Today, in an interconnected world, when the boundaries between product categories, markets and technologies have blurred, imparting contemporary and relevant management education that prepare students to strategize for an uncertain future, has become a big challenge for business schools. A bird’s eye view reveals that markets and consumers are being defined by two important parameters apart from advances in technology and the level of economic development: markets that are physical/virtual and consumers that are offline/online. These conditions co-exist around the world and consumers make seamless transitions when interacting and transacting for their needs.
Another important aspect that has emerged is with respect to organizations in the future—which will or rather, have become a combination of humans, chatbots and robots as employees. Organizations will also need employees who are adaptable and agile for the fast changing business and technology landscape. These will have direct implications on the future of organization structures, roles, hierarchies within organizations, employee motivation, communication within an organization and its strategic partners and customers, concept of leadership and so on. Organizations in different parts of the world would have different configurations depending upon the available financial resources, human resources and technology readiness. It is, therefore, imperative and important for management educators to develop curriculum and content that has a global focus without losing sight of the local culture and its challenges that manifest themselves in consumer behavior. Therefore, not only is internationalization of management education important but also critical to develop subjects that are interdisciplinary in nature. It is important for management educators to invest time in reflection and introspection and rejig their course curriculum accordingly.
Universities must also endeavor to align their programmes and pedagogy along global quality standards. This will pave the way for faster collaboration and co-creation among universities to pursue joint research, faculty/student exchange and international immersion programmes. Management education will be truly international if students are also trained to understand the needs and appreciate differently abled consumers, under privileged sections of society and those who are digitally illiterate.
As a leading business school in India, K. J. Somaiya Institute of Management Studies & Research (SIMSR) is committed to academic excellence and intellectual competence with support from its committed faculty and staff operating in a worldclass infrastructure and has cleared Stage 1of the prestigious AACSB accreditation. SIMSR imparts holistic education in sync with the realities of an ever changing world, following a pedagogy that merges technology with tradition. Apart from management education, the business school facilitates holistic self management, experiential learning, athletics, sports, yoga, foreign languages and other recreational facilities—contributing to the all-round development of future managers.
The Institute has reworked its vision and mission through internal debates and discussions and has committed itself to excellence by engaging its important stakeholders like students, alumni, industry and community on a continuous basis. The Institute is pursuing its focus on internationalization and research by developing strategic alliances with universities abroad and incentivizing faculty research. The students have to work on a Master’s Thesis in their final trimester—which is in line with the practice followed by the business schools abroad. At the same time, the Institute imparts value based education that is rooted in the timeless principles of ethics and good governance, which is highly appreciated by all the stakeholders.
The vision of our Institute, “Our dream is to build a world class research and teaching institution that is global in the reach of its ideas and universal in its service,” reflects our commitment to internationalization of management education.