The National Education Policy (NEP) approved by the Indian government in July 2020 is set to bring about a transformative change in the education landscape of India. While the policy is expected to revolutionise education across all levels, it holds particular significance for Business Schools (B-Schools).
The NEP 2020 is poised to act as a turning point for B-Schools in India, unlocking new opportunities and paving the way for holistic growth.
One of the primary focuses of the NEP is on providing a more holistic and multidisciplinary education. B-Schools are now encouraged to adopt an interdisciplinary approach, transcending the traditional boundaries of business curricula. This shift will enable graduates to develop not only specialised business skills but also a broader perspective, critical thinking abilities, and sensitivity to other disciplines. They can then cross-pollinate best practices from diverse fields into dynamic business environments, thus becoming more adaptable and innovative professionals.
Another key aspect of the NEP is the promotion of a flexible curriculum and skill-based learning. B-Schools can leverage this flexibility to introduce courses that align with current industry demands. By offering vocational courses and practical skill development programs, B-Schools can equip their students with the relevant competencies to make them more employable in a rapidly evolving job market.
Along with employability, the NEP also places a strong emphasis on research and innovation in education. B-Schools are encouraged to conduct live projects, collaborate with industries, and create innovative teaching methodologies. By fostering stronger industry-academia linkages, B-Schools can produce graduates who are better prepared to tackle real-world challenges and contribute meaningfully to the growth of the Indian economy.
One of the ways to also build industry-academia synergy is by Integration of technology in education, as advocated by the NEP, which is yet another game-changing element. B-Schools can leverage digital tools, online learning platforms, and virtual classrooms to enhance the learning experience for their students. This hybrid learning format will not only provide students with knowledge from diverse disciplines but also equip them with the essential digital skills required in the modern business world.
Keeping in mind hybrid formats, international collaboration and global exposure are highly encouraged under the NEP. B-Schools are urged to collaborate with international universities and foster partnerships for student and faculty exchange programs and joint research initiatives. Such collaborations will expose students to diverse business practices and enhance the overall quality of education. Promoting entrepreneurship is a cornerstone of the NEP, and B-Schools are tasked with setting up entrepreneurship cells and incubation centers. This will cultivate a culture of entrepreneurship among students, encouraging them to become job creators rather than mere job seekers. The NEP's focus on innovation and creativity will empower students to think outside the box and take calculated risks, fostering a spirit of entrepreneurial leadership.
Ensuring quality education is a central goal of the NEP. B-Schools will be required to adhere to rigorous accreditation systems and quality assurance measures to enhance educational outcomes. This focus on quality will elevate the standards of B-Schools and improve their credibility on the national and global stage. Moreover, the NEP highlights the importance of teacher training and professional development. B-Schools can invest in faculty development programs and extensive industry interactions to enhance teaching methodologies that cater to the dynamic needs of the industry. Well-trained and industry-aligned faculty will significantly contribute to producing job-ready graduates.
The emphasis on holistic education, flexibility in curriculum, research, and innovation, integration of technology, global collaborations, entrepreneurship, quality assurance, and teacher training in NEP 2020 will collectively transform the way B-Schools operate and prepare students for the dynamic business landscape. By embracing these changes, B-Schools can truly become incubators of business excellence and contribute significantly to India's economic growth and development.
(About the author) :
Major General V.S. Ranade (retd.) is the Director of The Army Institute of Management, Kolkata (AIMK). After leading a disciplined life for three and a half decades in the Army way, he believed lessons learnt from the self-motivated career could be instilled among the next generation of aspiring business leaders. Today at AIMK, he is on a mission to share his learning with the next generation of Corporate Leaders and instil value-based discipline among the future generation. He aims to groom Corporate Officers who can respond to business crises, as Army Officers will do in a strategic situation.
