The Need for Business Management Education in India
India has been considered to be a developing country for the last couple of decades. The demand for professionals trained in managing businesses is growing across the country, and also worldwide. While household businesses formed the backbone of the economy in the country a couple of decades back, with the industrial revolution, cottage industries lead to mass production.
Many family businesses have grown to become multinational companies over the last three decades, which has resulted in an increasing demand for management professionals. Government policies over the last two decades have led to the opening up of the Indian economy to foreign investments. The competition has grown multifold in every industry, leading to an increased demand for competent and efficient business management professionals.
Evolution of processes and systems in terms of classification of the business functions into Human Resources, Finance, Marketing, etc., has resulted in the need for specialists and experts for each of the functional areas. The need for identification, recruitment, training, development, and management of human resources has clearly mandated the demand for well-structured and scientifically designed management programs in the country.
Entry for international brands and companies into the Indian market has led to an increased pressure on the domestic businesses to quickly learn to make a turnaround and handle competition efficiently. This, in turn, results in the demand for competitive management professionals.
Hence, the need for management education in India.
Almost every business today is aware that change is the only thing that is constant, and hence change management has gained importance. As a result, the need for change management professionals. The ability to understand, analyze and track the employees’ behaviour in the workplace is another important aspect of business success. And that is precisely why subjects like Organizational Behavior have come into existence, which forms the core of every management program.
Subjects like Operations Research, Competency Management, Financial Management, etc., which are part of every management program, have become important for running a business successfully, irrespective of whether it is a micro, small, medium, or large business.
The demand for management programs which are aligned with the needs of the industry continues to rise, and hence the demand for B-Schools which can offer such programs.
NSB aspires to cater to the demands of the domestic as well as international businesses by grooming aspiring individuals into well-trained and competent management professionals.