IS MANAGEMENT EDUCATION REQUIRED FOR BUSINESS

What is management education?

Management education is an academic discipline by which students are taught to be

business leaders, managers and university professors in business education. People
who earn a doctorate in management education become consultants, academic deans of
a business program or training specialists.

Management education focuses on training future business leaders. Through theory and
knowledge of management practice, students learn how to develop the leadership
capabilities necessary to run a team of workers. Part of the curriculum focuses on
assessing and evaluating teams in order to examine the role as a manager. People who
specialize in management education must be able to adapt to changes in laws,
regulations and trends.
Classes in management education prepare students to turn around ailing firms, create
startup companies and place themselves into management positions. Management
education degree holders work for private companies, government agencies, nonprofit
groups, educational institutions, consulting firms and lobbying groups.

What does management do?

Managers typically function as the top supervisors in a specific department of an
organization and carry out a variety of duties. Management directs and delegates tasks
to employees, plans and organizes the scope of work for the department they oversee,
and monitors the progress of assignments and projects. Managers also work as

intermediaries between their reporting staff and the company's executive-level

leadership.
According to Susan M. Heathfield on About.com, a manager must exhibit the ability to
coach and mentor his employees, which requires the use of considerable people skills.
A manager is responsible for recruiting, hiring and firing members of his department
according to an assigned headcount total. Managers are also responsible for evaluating
the success of a plan and whether employees and resources are sufficiently allocated.
Managers often oversee departmental budgets that are assigned to them from executive
officers within the organization.
Managers primarily serve their roles under the direction of superiors in higher
positions, such as presidents, vice presidents and chief operational officers. In a typical
corporate setting, the chief members of staff all work directly under the chief executive
officer, who is appointed by a company's board of directors. The specific managerial
structure and delegation of duties varies between companies and individual
departments.

Changing Scenario in Management Education in India

You can teach all sorts of things that improve the practice of management with people
who are managers. What you cannot do is teach management to somebody who is not a
manager, the way you cannot teach surgery to somebody whos not a surgeon.
Henry Mintzberg
It is a well-admitted fact the Indian management education is struggling very hard to
survive with the rapid changing global scenario. It is at the crossroads where it needs
direction and vision immediately.
Challenges in Indian Management Education
The management education in India emphasizes mostly on theory, not on practical
education. When you look at engineering education, there are laboratories to
experiment and verify the theoretical aspects. However, the same is not possible in the
management education. Hence, the management educators emphasize on case study
driven education to ensure takeaways to the students. They are supposed to create case
studies as per the profile of students to share their knowledge. It is also essential for

students to have some industry experience to enable them to relate what is taught in the
classroom. Unfortunately, students in India pursue from KG to PG without any break.
Hence, they dont have any industry exposure and find it tough to digest the
management education in the classroom.
Most of the management education across the globe is case study driven and the
management educators are a blend of industry, teaching, training, research and
consultancy experience. They are able to leverage their experience and share their
knowledge with students who already have some years of industry experience. Such
management education helps ensure effective takeaways in the students. The students
will be able to relate the theoretical aspects with their practical knowledge. When such
students hit the industry, they will be able to leverage their management education in
the corporate world. They will be able to customize their knowledge as per their
verticals, sectors and industry. On the other hand, when you look at management
education in India, it is mostly faculty-centric, not student-centric. It is not customized
as per the aspirations of the students. It doesnt cater to students as per the industry
expectations resulting in a huge gap between industry and academia.
Tools and Techniques to Ensure Quality Management Education
The industry has certain expectations and the educational institutions are unable to
match as there is no effective industry-academic interface. Here are some tools and
techniques to adopt to ensure quality management education to students.
Make management education student-centric, not faculty-centric.
Interact with industry to find out the pulse and craft management curriculum
accordingly.
Impart practical education to students. Encourage them to interact with industry
regularly to get adjusted and mould as per the industry expectations.
Ensure that aspiring management students have minimum industry experience to
enable them to understand and acquire knowledge in the classroom.
Make sure that the faculty has the diversified experience including industry,
teaching, training, research, and consultancy.

 Provide team teaching in the classroom where two educators teach to students
one from industry; and another from teaching. It helps students connect theory
with practice quickly.
Encourage innovation and creativity in education. Avoid memory based
management education to students.
Avoid outdated courses and streams. Introduce courses which will be in great
demand in future. It helps students ensure employability and employment apart
from enlightenment.
Is MBA necessary to be a successful in business?
Introduction
Education is not a key to success all the time but great ideas are. Having great ideas
can separate people from rest of the world.
Management education is an academic discipline by which students are taught to be
great
business
leaders,
managers
etc
in
business
education.
In present scenario, with every student planning to get into MBA, people have started
believing that MBA is necessary to succeed in business. But is it necessary to have a
MBA background to be a success in business?

Yes MBA is necessary.

1. Management of two P's MBA is important because every successful business
man in the country should manage both the product and people in an efficient manner.
People those who do not possess any managerial skills, should take up MBA course to
improve
the
knowledge
of
management.
2. Essential ingredient Management education is necessary because management is
considered to be the backbone of a business. To generate a creative idea, managerial

skills are important. These skills can be imparted only while pursuing an MBA course.
Today, most of the companies have people with a MBA background.
3. Inculcates professionalism Management education or MBA is necessary as it
inculcates professionalism within an employee. Having an MBA degree helps an
employee to not only gain experience but also to complete the work efficiently, without
making much mistakes. They learn to manage the business with the theoretical and
practical knowledge. It trains you to excel in business without much loss.
4. Good job opportunity The more education you have, the better career
opportunities you meet. Having an MBA degree provides various good job
opportunities to an employee. Most of the large business firms, hire people who have a
strong background in MBA. Having a masters degree in business administration leads
to
successful
career
paths.
5. Decision process MBA course trains a person to take a decision after considering
all the factors. Having an MBA degree is an added advantage to the professionals as
they can make the decision faster.

No

MBA

is

not

necessary.

1. Need skills, not degree To become a successful business man, a person needs
skills rather than a degree. He should possess qualities such as good communication
skills, sincerity, and good leadership. He / she should have inner ability, clear goals,
strong confidence level and concurrent thoughts. Instilling these skills within oneself,
is
the
best
way
to
succeed
in
this
field.
2. Practical Knowledge Management is not about having bookish knowledge but
about having the practical knowledge and how to apply it in our day to day working. It
is all about managing ourselves in front of others. Thus, you do not have to waste
money
to
get
a
MBA
degree.
3. Proven in history History proves that management education or MBA is not
necessary to be successful in business. Michael Dell, the founder of Dell, did not have
a MBA degree, yet he succeeded due to his great business instincts. People like
Dhirubai Ambani, Ratan Tata etc became business tycoons without going through a

management

education.

Pursing an MBA degree or not is up to the choice of a person. Having an additional

qualification is always a better option. Having an MBA degree can be useful at some
time in your career, if you are aspiring to be a successful business man. It is not just a
piece of paper but it carries a lot of value and significance.
Today, most of the aspiring businesses people, pursue MBA as strong career support.

Advantages of Studying Business Management

Small businesses are designed to exploit the unique set of skills, knowledge and ideas
of their owners to sell products and services. Education and work experience vary
greatly from one entrepreneur to another, and different types of businesses require
different sets of skills and expertise to succeed. While no formal business training is
required to start a successful business, studying business management can be beneficial
to entrepreneurs.
Expanding Business Skills
The primary benefit of studying business management is that it can equip
entrepreneurs with essential business skills and knowledge. An entrepreneur with no
formal business training might be ill-prepared to handle tasks on the business side of
the venture, such as creating a business plan, accounting and negotiating. Studying
business management can improve a business owner's ability to analyze data, improve
financial decisions and make better predictions about the future.
Credibility
Studying business management typically involves pursuing a Master of Business
Administration (MBA) degree. MBA degree holders are often sought after for top
management positions in large companies. MBA graduates from top universities

commonly command starting salaries in excess of $100,000. Working as a manager in

an existing company gives entrepreneurs valuable experience before starting his own
business. An MBA degree can also benefit a small business owner by providing an
additional level of credibility to the owner and his company. This could potentially lead
to an easier time securing financing or investment from banks, private investors and
venture capitalists. The cost to pursue an MBA can be substantial, however. Shop
around for the program that best suits your needs and budget.
Networking Opportunities
Another advantage of studying business management is that it exposes you to
networking opportunities with like-minded business professionals and professors. This
can open up new possibilities for partnerships and mentoring. A small business owner
who can turn to a professor for advice has an advantage over other entrepreneurs who
can't get friendly expert advice.

Considerations
Studying business management enhance an entrepreneur's chances of launching a
successful business, but it does not guarantee success. Even seasoned and successful
businesspeople can fail when creating new companies. Formal business training simply
gives business owners more tools to deal with challenges and take advantage of
opportunities.