Need for a Paradigm Shift in the Vision of B-Schools

In the dynamic and complex environment of business, management education is being challenged to keep pace. At a time when the repercussions of the financial crisis are prevalent, globalisation of business, advancements in technology, quest for innovation and sustainability, it is imperative that business schools prepare students for challenges and opportunities in the world of global business.

According to Harvard Business School Alumni Bulletin, business schools around the world turn out around 500,000 MBAs a year – 150,000 in the US – widely rated as the most prolific source of business education, although that honour is now shifting to India, with its number of business schools already being 2000 and rising since last 20 years, and with an annual output of 150,000 MBAs, which is a clear indication of manifesting the most robust growth of business education in any country or region.

This paper evaluates the contemporary challenges exerted by the global economy on management education of two big democracies, namely, the USA and INDIA. In this paper, in tune with the industry trends, a paradigm shift in vision statements of B-Schools is compared through in-depth literature review. This article is bound to be of interest to students, academicians, business schools and professionals.