A few years back, in a class discussion, one of my students asked, “Ma’am, we study so many models, but is there any practical implication and application of these models or are they just theoretical concepts?” It was not a syllabus-related question but a question asked out of curiosity, a question related to decision-making. So this is where the role of business schools comes into play. Business schools are platforms that help students to think analytically, make decisions and provide practical solutions.

Business schools help in the transformation of students in a number of ways. Students take admission with curiosity and a dilemma in regard to their future goals. Business schools provide a better understanding and clarity in regard to their potential areas, leadership skills and team management.

An important aspect where business schools play a crucial role is enabling students to think analytically and make better decisions. This is not an easy task as it involves a series of steps, but providing the right direction at the right time is what matters. Classroom lessons related to theoretical concepts are important, but what is more important is encouraging students to ask questions. The more questions being asked, the more the involvement of students and interaction among each other.

Finding what is missing, what new can be done, how a problem can be tackled in different ways, and what the risks involved are. All these questions automatically drive students to think from various perspectives and provide new and better ideas. This transition from directly getting answers to involving the students helps in bringing out a better personality in the students.

Another significant aspect that is inculcated among students in business schools is building leadership qualities. Leadership is something that cannot be gained immediately. It is a slow and gradual aspect that is gained through day-to-day experience. This is the reason I prefer giving group assignments rather than individual ones. There is a wide variety of students in each class: a few are shy, a few are extroverts, a few do their work quietly, a few prefer doing work alone, and a few enjoy doing work in groups. This wide variety of dynamics helps students to learn a lot while doing group tasks. They learn how to interact with people, how to delegate tasks, how to achieve better communication and how to solve problems or issues arising while working in a team. This is what can be learned through experience and not classroom teaching.

This journey is further enhanced through experiential learning. Case studies, simulations and internships create a bridge between theory and practice. I myself have experienced that a well-discussed case can bring a lot of change in a student’s mindset. They start enjoying ambiguous and vague situations and try to present better ways of dealing with such scenarios. Internships expose students to real-world challenges and help them understand how organisations actually function. They gain insight into how strategies are formulated and how people are managed. One of my students, after their internship, remarked that handling employees is the most complex task in an organisation. This is the role of internships.

This boundary between the corporate world and academics is further reinforced through guest lectures, live projects and industry collaborations. The experience of practitioners helps students to connect with what is being taught in the classroom. The understanding and clarity that is reflected are far better among students when they have discussions with industry experts. For instance, a live project on stock market trading and getting advice from financial experts would bring far better results than just teaching theoretical topics in the class.

But what must not be forgotten among all this is teaching ethics and values to our students. A number of times situations might arise where they need to choose between various alternatives, a few of which might not be ethically correct. How such dilemmas are to be handled has to be taught to students from the very beginning. Various universities and institutes go for Corporate Social Responsibility initiatives and activities so as to inculcate such values in students. This makes students think that leadership is not just about power; it is also about responsibility and integrity.

The impact of a peer group is what is underestimated a number of times. But the people around you influence your behaviour and perception to a very large extent. So choosing the right people to surround yourself with helps you to evolve as a better individual.

Also, the relationships built during these days often last long and help a lot in your professional life too. Hence, networking emerges organically in this setting. But beyond professional connections, there is a deeper learning – understanding people, building trust and managing relationships. The increasing role of technology, data analytics and digital transformation has reshaped the skills required of future managers. Hence, business schools are adopting these parameters into their curriculum. Even though the tools may change, the basic underlying principles remain the same – to develop thoughtful, emotionally strong and confident leaders.

Author
Dr. Tania Mengi
Assistant Professor (Sr. Scale)
Department of Management & Commerce
The NorthCap University, Gurugram.