SVKM’s NMIMS Hyderabad, a legacy academic Institution established in 2010, has signed an MOU with Virtusa – a member of the elite top ten analytics company in India which operates in business analytics where both the organizations will work together in knowledge creation and dissemination in the following domains.AI Machine LearningAnalytics, Insights, DataContent and Customer ExperienceDigital Process AutomationEnterprise ApplicationsInnovation HubBusiness ConsultingIT StrategyIT InfrastructureOrganisation Change ManagementHealthcare AnalyticsMarketing AnalyticsHR AnalyticsThe MOU covers Knowledge creation, advocacy, and delivery of programs that are relevant to industry, more specifically on analytics and allied areas. Virtusa will develop the curriculum for MBA Business Analytics for full-time and executive programs.With this tie-up, students of NMIMS Hyderabad will work in analytics and become industry-ready when they complete their graduation. Students will get an opportunity to get hands-on experience in real-time projects and get a practical orientation to new-age analytics across various domains.Speaking about this collaboration, Dr. Tapan Kumar Panda, Director of NMIMS Hyderabad said, “We believe in partnering with the industry, which gives the students exposure and an early start to the real-life work environment. This partnership will enable students to gain knowledge of the vast field of Analytics.”Mr. Krishna, Sr. V.P. & Global Head, Virtusa – Data Practice said, “Our relationship with NMIMS will enable us to nurture students to be customer-ready with the right mix of technology skills and appreciation of business needs. As an outcome of this MOU, the bright minds from NMIMS will have an opportunity to work with world-class leaders from Virtusa to solve real-world problems and learn new-age technology. We chose NMIMS to be a partner in this exciting journey due to our shared commitment to quality and excellence.”About SVKM’s NMIMS HyderabadEstablished in 2010, NMIMS Hyderabad has carved a place for itself as an elite B-school, known for its academic excellence, research-based pedagogy, and highly-regarded faculty. It is the youngest B-school in the country to get the prestigious and coveted AMBA accreditation in 2016. It was ranked the top 5 and top 6 Emerging B-Schools in 2017 and 2016, respectively.For more information please visit website www.nmims.edu/hyderabadcampus.
Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com 74% MBA 2022-24 aspirants said they would opt for education loans.
There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.
- So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
- Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?
These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.
While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.
However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.
- Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
- B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
- Institutes should have the right mix of faculty members with industry exposure and pure academics.
The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.
It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.
After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.
Author Name : Nirmalya Pal