Management education in India is a new concept as because the preferred careers in the 1940s and the 50s were medicine and engineering and in the 1960s and 70s the IAS and the Central services, the craze since the 1980s has been for management and IT Jobs. As a result, there has been an explosion in the number of business schools in India. Management study is very popular for imbibing versatility and multi-tasking abilities As the demand for management education grows so do the challenge and opportunities too. Today business schools in India face the challenge of creating an indigenous model of management curriculum.
Although the area of action to implement management education is a global one but it is also necessary for the curriculum to reflect local aspirations. For eg: curriculum should focus on local case studies where the management principles are broadly examined, questioned and streamlined to meet the challenges of the local/national business environment optimistically. Unfortunately, Indian Business schools vary widely in terms of the caliber of the faculty, quality of curriculum, infrastructure, and placement record. Apart from the premier list of B Schools in India the academic standards of most of he B Schools are not upto the mark.
In fact at the low end of the spectrum we find institutes charge exorbitant fee from gullible students but provide negligible academic value addition. The other challenges facing management education in India is to promote research and establish a global quality assurance and accreditation system and above all to continue working upon to improve against the competitors to enhance its ranking is a challenging task for every institute.