THE DIFFERENTIATION & UNIQUE FEATURES
IITJ is comparable to MIT and Sloan School of Management within MIT premises, which co-existed for a long time, has been guiding the entire world via high quality research and also producing deserving business leaders. There is no similar example in India so far. With such a clarity and focus, IIT Jodhpur’s School of Management and Entrepreneurship (SME) is venturing to create a similar structure in establishing a strong management school with the advantages of a supportive technical environment.
THE IITJ ADVANTAGE
IIT Jodhpur has several advantages to venture into management education. Competency on diverse technology disciplines, a most sought after UG programs around STEM, increasing faculty size, a vibrant research culture, a strong doctoral program – all with a globally respectable brand.
Technology feeds Management, which in turn feeds Technology. Hence, IITs are more relevant today to respond to need of emerging corporations in the wake of industry 4.0. We need to visualize and leverage this to respond to current realities of modern society and challenges industry is facing. Two things are vital here-new knowledge and people ready with the same. What would differentiate a management graduate in today’s world? Business leaders of future corporations would be differentiated by certain qualities – they are those who
1. Understand the nuances of emerging technologies 2. Can foresee the role of technologies in defining the business of future 3. Understand and thrive in diverse cultural settings 4. Develop ability to work and lead teams 5. Possess strong personal belief in ethical practices 6. Display a sensitive person and responsible corporate citizen
IIT Jodhpur’s School of Management and Entrepreneurship (SME) is venturing into management education with a proposition to inculcate all the above qualities via various programs – Regular MBA, MBA-Technology, Minor Programs, Doctoral Programs, International Programs, Leadership Programs and Executive Programs. The school offers programs for aspiring entrepreneurs and guide them through incubation and further commercialization. It is positioned to feed the state of Rajasthan in designing policies, projects and capacity building.
THE SME ADVANTAGE
The new school is also going to have several distinguishing features that would differentiate it from the rest.
School with Adequate Autonomy: In IIT system, established academic units are mostly departments which, by statute, are dependent models. That means they receive government grants and survive on the same. This school, unlike departments, is being conceived as an entity enjoying adequate financial and academic autonomy. Autonomy is bedrock of high performance and with this belief SME will be run notionally as a profit centre with appreciable corpus in due course of time. Academic freedom would include a choice of designing course, offering programs, collaborate with reputed business school, and recruit faculty from practice world or from international places.
Value Proposition: Variety of academic programs suited to seeker-stakeholders (regular, working professional, international students, public sector and policy officers); partial to full engagement with corporate world in dealing with business opportunities and challenges; strategy papers and a directed research to feed national programs; nurturing international partnership and address global issues; engage with local community; become resources rich.
International Accreditation: The three most-coveted, international accreditations for Business Schools are AACSB, AMBA, and EQUIS. They evaluate the standards of a business school's teaching, faculty, services, and students, among other things. Among the three, AACSB is the most popular and adopted by Business Schools of high repute viz. Harvard Business School. School aim to acquire AACSB accreditation. SME aims to achieve the same in the next 5 years.
Corporate Centric Culture: The school to have all possible corporate avenue i.e. faculty from practice world, access to live projects, leadership lectures, regular workshop on emerging issues etc. Industry connect programs are also regularly organized.
Innovation and Entrepreneurship: SME is plugged into IITJ led centres of innovation and incubators such as iHUB Drishti. SME also envisages offering a variety of programs viz. a Basecamp Training program for budding entrepreneurs, Minor Area program for Undergraduate students, build content and network of national and international experts in Entrepreneurship, conduct actionable research, build strategic alliances to advance the cause of entrepreneurship and support in incubation of start-up in the institute. It can eventually grow as an independent entity as big as to serve state level needs and subsequently as a national level resource centre on Entrepreneurship.
Management Development Program: Training programs are important source of revenue and connect with the practice world. It is imperative for a Business School to conduct Management Development, Executive Development, and Leadership Development Programs. Such programs should be designed with high industry relevance. School is adopting a new MDP policy with adequate freedom to the coordinator(s); establish MDP set up with adequate staffing; put in place structure of marketing and branding; internationalize MDP and make provision of higher overhead charges (25-30%) to IITJ where a part is sharable with the School.
Internationalization: Opportunity of growth lies into internationalization of the program. The school aims to create the types of business leaders with a broad vision, who understand the intricacies of the interconnectedness of the world and fulfil the dream of India as an aspiring nation. Efforts are made toward the global program, foreign faculty recruitment; campaign for international student's enrolment; invite global faculty for teaching, and enhance global immersion program.
Deepen engagement with alumni: The success of schools is deeply connected to that of their graduates, who must first thrive within the confines of academia and then grow and develop in their organizations, thus giving back to their environment and their alma-mater. School alumni bring with them energy, respect for others, a thirst for discovery and the desire to contribute to their teams' well-being. The youth in them is positive that seeks to change the world and is guided by a real moral concern.