Industry interface is one of the most critical indicators of a good B-School worldwide, and the connection between Business Schools and industry is an integral one. According to India Skills Report, 2018, the employment of MBA students witnessed a limited growth due to a gap between industry needs and the B-School curriculum.
In this regard, the relation between them is of paramount importance, not only in determining the employability of B-School graduates but also in recruiting the best minds for the industry. But to achieve this balance, B-Schools must address the gap between curriculum-based learning and the industry’s’ demands for those knowledge and learnings. This can be done by re-aligning the programme curriculum as per requirements.
As of today, the business environment has become more volatile. Coronavirus outbreak was an unprecedented situation that enforced organizations to change the way they operate. And during this process, we learned and unlearned various things. During this pandemic, we keep on interacting with corporates and people working on the grounds. It was clear that the market is making a swift shift towards e-commerce, IT and automation, healthcare, and service-oriented sector. It is here that, again, the interdependence gets focused. For example, in IMI Kolkata, one of the premium B-Schools, we are focusing on training our students to make them market-ready, providing them with skill-set required with respect to the current business scenario. We are strengthening teaching-learning processes with new tools, techniques, and methods to impart those skills. The pandemic also gave us the opportunity to enhance industry interaction using virtual platforms (i.e. zoom. MS teams etc), and that also helped students shaping their mindset and understand what is required from them.
IMI Kolkata has always given major importance to outcome-based learning. In this regard, students get exposure to many industry-based personalities where they gain practical knowledge. Students also take part in live projects, industry visits and are a part of internships where they work in companies. Other than that, there are various summits and conclaves where eminent personalities discuss current prevailing issues giving students a deep insight into practical problems. These events help in reduing the gap between industry and academia, thus leading to a better co-relation between both.
