Decoding The Management Education

The world is not flat- Urge of knowledge will never end

Since the 1990s, the term globalization has become an increasingly prominent feature
of economic, social and political discourse, not just within the academic community, but
also in the popular press and in the world of policy making. It is, however, a notion that
is far from straightforward. Definitions and debates have proliferated around the
syndrome of processes and outcomes alleged to characterize globalization. Everyone
agrees we live in a more globalized world, but views differ as to what this means and
whether it is a trend for good or ill. Those on the neoliberal right are typically pro-
globalization, arguing that it has opened up markets across the globe, that it is a force
for spreading opportunity and wealth across nations and that the intensification of
competition it engenders stimulates innovation and productivity. Those on the political
left tend to be anti-globalization, arguing it is a process dominated by global
corporations that have become more powerful than nation states, that it increases
inequality within advanced economies and undermines the ability of the world's poorer
countries to improve social welfare or protect their natural environment. One of the
contested aspects of globalization concerns its geographies and especially whether
globalization is rendering the significance of location and place redundant and
irrelevant. Several writers have argued that globalizationespecially as driven by the
revolution in information and communications technologies (ICT)marks the end of
geography, the onset of the death of distance , the emergence of a borderless world,
of de-territorialization or supra-territorialisation and the vanishing of distance.
Due to globalisation, Competitive labour markets aside, competition for employees is
likely to become an increasingly important issue as the worldwide population
ages. With some regional differences, employment levels in many developed
economies are very high, and competition for skilled staff is intense.
Concomitantly, due to the pressures of a changing demographic base, the
demand for intellectual capital- a cadre of highly skilled, independent,
internationally marketable and mobile individuals- is exceeding the
available supply.
Despite the rapid expansion in the supply of highly qualified workers, many managers
and executives in all seven countries believed in a war for talent, a competitive struggle
to attract and retain top talent central to their competition strategy. More corporate
resources are being focused on attracting, retaining, and developing top talent at the
same time that a larger proportion of the labour force hold university degrees.

Although all the companies involved in this study anticipated an increase in demand for
university graduates, there is little doubt that more means different as companies
differentiate their knowledge workers in terms of function, competence and
performance. As companies in this study globalise their Finance, marketing, HR and
other strategies, especially talent management, it becomes impossible for employers to
have first-hand knowledge of universities or the quality of students from different
institutions, which explains why reputation and branding become key.
India
Since last decade, India has advocated the creation of a high-skilled, high-waged
economy by upgrading the education and skills of its workforce. The creation of world-
class skills is assumed to be a route to economic prosperity, reduced income
inequalities and social cohesion. Such policy prescriptions rest on the idea of a
knowledge economy where innovative ideas and technical expertise hold the key to the
new global competitive challenge.
Governments all over the world want their countries to have high-value, high-skill
economies, and they realise that the first step towards this aim is to have a well-
educated workforce. The three central pillars of the governments plans for education
reflect these realities: expansion, equity and excellence. Over the next five years, every
aspect of higher education is being reorganised and remodelled: funding, leadership and
management, quality assurance, accountability, relationships with industry,
international collaboration and the way teaching and research are conducted. Emphasis
will be placed on strengthening existing institutions. In arguably the biggest reform in
the governance and funding of state universities, an ambitious programme is underway
to devolve authority and budgets for higher education from federal government to the
state governments.

Gujarat
Gujarat is one of the most industrialised states in India, which is reflected in its
approach to education reform towards employability. Overall, there is a strong sense
that Gujarat is moving forward quickly to internationalise its education and trade. The
state is dynamic and supportive; there is a sense of optimism that they are on the right
track. They are not waiting for central government legislation, but are determined to
move ahead with major reforms within their Higher Education system over the next
decade within the existing legislative frame.
In the developing world the knowledge society will ask for even more highly qualified
knowledge workers. Economic development, modernisation and demographic pressure
will fuel the demand for higher education also in other parts of the world, only limited
by the inability of the poor to finance the cost of higher learning. Local institutions nor
governments will have enough resources to deal with this massification of demand in
many countries, leaving an unmet demand in the upper and middle classes of many
countries.
Companies have consistently tried to improve quality while reducing their costs. But
these attempts have been limited by the problems of delivering high-quality goods and
services in lower-cost emerging economies. While these issues remain, companies
reported a rapid narrowing of this quality and productivity gap, which in turn is
transforming the way they think about the global supply of talent. The new competition
is based on quality and cost, challenging Western assumptions about the inherent
competitive advantage of the developed economies for high skilled, high value economic
activity.
Factors driving the new competition include:
An increasingly competitive environment where old and new competitors consistently
up the ante in pursuit of competitive advantage;
Rapid economic development in China, India and other emerging economies, enabling
them to compete for high-value work. These countries have been able to leapfrog
decades of technological developments in the West, for example by the introduction of
cellular mobile communications;
An increasing supply of highly educated workers,
A shift towards the global alignment of business processes and the international
benchmarking of quality standards, facilitated by new technologies.

Few decades ago, there was a race of moon, then there was race of money and now there
is a race of knowledge, where student with just graduation degree will not be able
survive in this race of survival.
Need of Post Graduation Degree:
MASTER OF BUSINESS ADMINISTRATION
YOU'VE BEEN through 15 years of education not counting those two or three years in
pre-school and kindergarten with a degree under your belt. Now it is finally time for
you to step out into the world and find your place in it. But you are faced with many
options, some of which will postpone that decision to join the workforce for a couple
more years. While most professional degrees might lead you directly into a job, or at
least define for you an area of work, general degrees give you a good education. Of
course, there are many jobs for which further formal education is necessary and highly
desirable.
What exactly is the advantage of being an MBA?
Several reasons,
Todays era require good decision makers which lead the world to the new
heights, MBA will provide opportunity to develop analytical decision making
habits.
MBA degree gives better career opportunities with good salary package.
When it comes to the question of entrepreneurship, MBA allows a student to
develop all kind of skills required entry level to the top level. It helps to develop
all theoretical knowledge to the practical exposure to meet with the real life
situation. A student can develop large network system.
It supports a student to enlarge new leadership styles and extending the
thoughts of innovation into practices.
MBA is not just a degree but it is entire practical concept for corporate world.


Lets quickly glance through some other significant factors that usually get
ignored during B-school selection:

The faculty

Infrastructure

Teaching Methodology

Career Statistics /placement
Alumni feedback
Specialisation being offered
Recent School Ranking
Accreditation Status
Scholarships / Financial Aid
Convenience of Location