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Redefining Businesses Post The Pandemic
Debashis Chatterjee, Director, Indian Institute Of Management, Kozhikode believes that sustainability will be the core of transformation.
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It is no secret that the business landscape of the present is in a constant flux and continually being disrupted by intrinsic as well as extrinsic factors. We are witnessing a new dawn with paradigm shifts in business fundamentals. Debashis Chatterjee, Director, Indian Institute Of Management, Kozhikode believes that sustainability will be the core of transformation.
The three D’s – Digitisation, Diversification and Disruption will redefine businesses shifts post the pandemic. However, it will also be naive to go for a one-size-fits-all plan. Every industry will face unique challenges and will need renewed orientation. In any case, businesses that meet these changes with innovative thinking will have the best chance of adapting and prospering. Sustainability will be at the core of all such transformations. The world today is moving from consumption to innovation and from producing to caring; capitalising on the human element will be the key to future success. Going forward, digital education is likely to be fully integrated into mainstream education. Digital will be the nuts and bolts of learning. However, the romance of learning will be still offline.
The institute engages the industry throughout the year. In a given year, the institute hosts two placements processes, for the summer internship and the final placements. Other events like leadership talks, industry conclaves, bootcamps and academic workshops are organised by various IIMK student bodies at various points in the year. The institute also facilitates live projects for its students. In addition, the students participate in numerous domestic and international competitions hosted by prominent organisations, which often result in pre-placements job offers. Over the years the faculty members have engaged in consultancy projects and collaborated with the industry on intellectual outputs such as industry reports and white papers, which has helped strengthen our industry connection. The strong support from the large and illustrious institute alumni base has been the bulwark against market cycles and shocks like the pandemic.
It is a fact that edtech companies have contributed significantly to bringing volumes of lessons to fit right into your palms by being accessible. They have revolutionised how the receiver chooses to receive the information. However, at the end of the day, technology cannot entirely dictate the quality of the output; it is the humans involved in the process that will complete the holistic delivery cycle. They have realised that partnering with leading educational institutes is the way ahead for education. Further unbundling their programmes into stackable courses will help edtech promote management education by making them more flexible. The faculty also have constant interaction with academia, foreign universities, corporates, alumni, government and research-driven assignments which help them to be a step ahead of the game.
The education sector needed some kind of an impetus to get us all to rethink how we educate and question what we are preparing our students for. I foresaw this as an opportunity for mass experimentation in remote learning and teaching. The necessity to keep the show running eventually witnessed the deployment of digital technologies to modify, if not transform the education sector radically into a hybrid learning mode. The mode gives us the chance to explore a sweet synthesis of the two worlds – offline and online. We have integrated this successfully into our daily functioning keeping in mind the concerns emerging out of Covid-19 spread.
Research is one area that we need to focus on to be on par with the best B-Schools in the world. The physical knowledge and the intellectual infrastructure for research in leading education systems of the world, are already in place in a way that we still do not have in India. If we take the example of Harvard University – the research facilities and the funds for research at Harvard are incomparable not just with Indian but with most universities in the world. However, in terms of the talent pool for research, India has got enough. The only problem is that our research acumen has not been honed because we do not have a research culture in this country. In India, building research universities is only a recent phenomenon. However, given our new education policy & its thrust on research & interdisciplinary work, I do hope that our education system will soon touch a new orbit going forward.
The future of management studies in India will be shown the right path by the NEP 2020 which is a golden reset button for our education system. The next 10 years will thus be crucial as the study of liberal arts will propel the next generation of managers who rule by the brain but also listen to their hearts. IIMs will also be attracting a large number of foreign candidates into their folds by the thrust on internationalisation by the government. Our institute’s mission of ‘Globalising Indian Thought’ closely aligns with the Government of India’s thrust towards ‘Study in India’ programme. India as a global learning centre will flourish and I hope to see IIM Kozhikode leading the charge. I also hope that the cause of gender diversity that IIMK has been passionately practising and propagating for the past decade will lay the foundation for an ‘equal’ and ‘representative’ future for management education in our country.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.