Creating leaders for the future

ICFAI was established in 1984 as a not-for-profit society with the broad objective of empowering citizens through world class quality education. Since its establishment, ICFAI Group has made a significant mark in the Indian educational filed with a pan Indian network and presence.

Subsequently, there was a big leap when ICFAI Group started its chain of business schools (IBS) across India in 1995 to offer management program. Since its inception, IBS has been consistently ranked among the top ranked B-Schools of India providing excellent academic delivery and infrastructure to its students and transforming them into leaders for the future.

ICFAI Group has 3 Strategic Institutional Units, the ICFAI Universities, the ICFAI Business Schools and the Flexible Learning Programs (Distance Mode). In all the programs offered across these units, the emphasis is on adherence to academic rigor and differentiated curriculum that bridges the industry –academia gap.

Flexible and tech enabled learning also plays an important role in ICFAI’s teaching methodology. The delivery takes place with the use of hi-tech learning management system at campus programs and content delivery for distance learning through online medium. ICFAI practices the value of academic integrity at all levels.

The alumni of ICFAI Group are working in renowned companies world-wide. Collectively, ICFAI Group alumni contribute significantly to the growth story of India.

Dr. Venkata Seshaiah, Dy Director, ICFAI Business School (IBS), Hyderabad shares his views about the current scenario of Management education in India, challenges B-Schools are facing, current trends in admissions and about various salient features of IBS Hyderabad

Management education plays a major role in the economic development. Though the business education in India has a long history the growth in business schools and business education increased after liberalization of the economy in 1990s'.

Though the value of management education has not changed, the demand for the management education in India is gradually coming down in the last 3- 5 years as most of the business schools are not focusing on the much needed academic rigor, skill sets & attitude of the students sought after by the industry. Therefore we witness more b-schools exiting from the market these days.

In the coming 1 to 3 years the MBA program is going to face a lot of challenges and threats. The challenge will be in the form of differentiating themselves in innovation, engagement and impact. Hence, the business schools face the challenges in terms of developing the right curriculum, getting quality faculty members, pedagogy that suits the global requirement. If they are not able to meet the challenges, they will find it difficult to attract and retain the students.

There is an argument that the number of applicants for B-Schools remain stagnant, but It is very difficult to conclude that the number of applicants remained stagnant or fluctuated around 2 lakh because some students write GMAT, MAT, XAT, IBSAT, and moreover each state conducts its own test to accommodate students in state universities. However the stagnation may be due to poor infrastructure, inferior quality of faculty members, static curriculum, poor pedagogy, research without purpose, ineffective industry linkages, and lack of internationalization.

At ICFAI Business School (IBS) there is a steady rise in numbers, year on year.

ActionLearning

ICFAI Business School (IBS) believes in imparting business education through“#ActionLearning”. For the past 20 years IBS has been following this methodology and has been successfully “Grooming managers who are ready to “act”, ready to “do” and ready to “tackle” any challenge.”

At IBS Hyderabad the total intake in MBA program, which is our flagship program, in each year is 1100 and we have about 2200 students together in both first year and second year. The program fee is 6.10 lakh per annum. There is no change in the fee compared to the last session. The batch size was 860 and the no. of offers received were 791. The average annual package is Rs. 6.5 lakh and there were 11 international offers. This year we could attract 24 international MNCs for placements.

There was more demand for Marketing and Financial Services function. The prominent sectors were IT, Banking and Financial services.

Admission procedure followed at IBS:

ICFAI conducts IBSAT (ICFAI Business School Aptitude Test). The qualified students will be called for Group discussion and personal interview. Based on the overall performance the students are selected. There is no difference in selection criteria for 2016. IBS campus represents a mini India, representing 29 states with a healthy demographic, academic and gender diversity. At present girls constitute 42% of the student enrollments.

Most of the business schools treat their students as their customers in the class rooms where as IBS Hyderabad follows a different approach – for the school and students together industry is the customer.

What differentiates IBS from others is:

At IBS we adopt a unique TRICK method – Teaching, Research, Innovation & Institutional development, Community development and Knowledge sharing.

Teaching Aspects

Case Pedagogy

Continuous evaluation method

Simulations and Modeling

Term papers

Research Aspects

Case research S Applied research

Innovation & Institutional development aspects

Syndicated Learning: A unique and innovate method that helps the students to enhance their skill sets to be

employable.

Online Examinations

Three hours comprehensive examination

Focused approach towards overall development of students through Mentor mentee approach

Simulations and term papers

Unique Summer internship program

Cafeteria approach in the selection of specialization

Introducing market driven electives like Marketing Analytics, HR Analytics and Finance Analytics

Strong Industry Institute partnership

Curricular as well co curricular students clubs

Strong Alumni relationship

Focused Case Research Center

Community Development

Though IBS teach Business ethics and corporate governance, it strongly believes in enhancing the student’s awareness on corporate social responsibility. Hence, students are involved in community development activities through our club activities and through our women development centre.

Knowledge Sharing

The faculty members of IBS identify every year the general management books and they ask the students to read and present the summary of the book to other students, thereby enhance the knowledge of the students.

About Research Culture at IBS

Institutes should create proper research culture by conducting workshops to the faculty members on research methodology, how to collect review of literature, how to identify suitable journals etc. The institutes also should introduce proper incentive policy for publishing in indexed journals of repute.

They should motivate the faculty members to do quality Ph.D. by registering in well recognized institutes or universities that creates research culture. For example In the last academic year IBS Hyderabad faculty members have published about 150 research papers in Scopus, ABDC listed journal and other indexed journals.

IBS introduced a decent research publication incentive policy. IBS offers a strong Ph.D Program, which is a blend of best practices of American and Indian Universities. All our Ph.D scholars are paid handsome stipend by the institute.

Message to B-School aspirants?

The aspirants of B-School should undertake proper analysis before arriving at any decision rather than getting carried away by advertisements, blogs, etc. The best indicator whether a B-School is reputed or not, is the feedback from alumni and recruiters. The aspirants need to exercise due caution before selecting a B-School.