It is often felt across industry verticals that with the passage of time as competition sets in, customers in a particular industry get to experience better services from the companies on an average. Exceptions are always there and so we do find complaints being lodged by customers in the consumer forum and other such platforms and the companies are often made to cough up huge sums of money for compensating the customers. However when i look at the management education sector, i find that there has been a meteoric rise in the number of institutes in the last 15 years in the country. Moreover, in the last 5 years, there has been a plethora of private universities that have come up and around 95% of them do offer management education. While the figures state a tremendous competitive environment but then such a milieu has done little for the industry’s customers viz. the students.
Vital parameters like learning infrastructure that includes the quality of teachers and the teaching infrastructure are pathetic in most cases. The quality of intake of students is another pathetic element at most institutes. It is thus of no surprise that another vital parameter which is placement record of an institute is dismal in most cases. Students after spending lakhs of money end up getting jobs that are meant for graduates in most cases. Just look at the way the quality of IIMs are getting diluted in the country. At a time when there were 4-6IIMs in this country, they were a revered institution with quality learning, quality faculty and quality students. What is happening now and what will happen few years from now when some more IIMs will come up in this country? Already we come across news that IIM Ranchi is mainly being taken care of by IIM Calcutta in terms of teaching and research. Many of the IIMs are having vacancies for faculties which are not getting filled up and they are running the show by employing visiting faculties for teaching. In fact many of the second grade B-schools in this country to take care of fund shortfalls due to lack of admissions are running the show in a similar way. Business wise although this might work well for an institution to keep sailing in troubled waters, the sufferers are the students as in most cases they do not get to know the inside story of an institute and once they get to know of it, it is already too late.
A panacea for the bane called mushrooming of B-schools in this country could be stringent policies of quality check to be imposed on all AICTE approved and institutions affiliated to various universities in this country. The RTI Act needs to be revised in such a way that each and every prospective student gets all the correct information he needs to take an informed decision before joining an institute. I can only foresee a better tomorrow in the management education sector if only the unwanted mushrooming stops for it serves no one but some greedy investors out there to make quick money in the name of education.