The inspiration came directly from IIMA and the IITs. The teaching methodology is related to those practised at Harvard and Stanford. The syllabus and the curriculum in hundreds of b-schools in India and abroad may be quite similar. That is only natural when considering the technology that everybody works with. The world gets smaller by the day, linked by the strands of the internet. Those little electronic devices have made such a crucial difference.
Business intelligence and management have much to do with the mobiles and the tablets. No company’s marketing plans nowadays can succeed without mobile advertising to reach a great majority on the go. When up-and-coming management graduates look back during a successful career, they would remember that it all started at IFBS.
In search of the best b-school?
While it is true that many MNCs pay huge salaries to novice management graduates, how does it all happen? Probably thousands of management graduates from mediocre b-schools hardly make it to the lowest rungs of the corporate ladder. What makes those top b-schools so special? What is the secret to their performance?
Besides the hundreds of universities that make up the Indian educational system, some extraordinary institutions have transformed the scientific, technical and management landscape. The IIMs, the IITs along with the IISc truly have achieved global standards and have made a difference to several generations of Indian brains and world performance. Travel around the world and delve into the hierarchies of the biggest corporates that have carved mighty empires. Probably a few IIT and IIM alumni would figure among the senior management or technical workforce. At the highest executive levels, it is a blurred universe of great accomplishment, often taken for granted after reaching starry heights.
The important role of models
Imitation of models and learning from them has been practised immortally. Every teaching aid right from early school ha its origin in a model, even images. Personalities and architecture, to consider some examples, use models as a learning device. Even with advanced technology, robots may be serving humanity and they serve as models to learn from, too.
IFBS for all practical purposes is built on the models of IIMs and IITs. That is an inspirational beginning, of course, and it has been sustained for some years now. The two years of study of PGDM involve learning from a variety of models, humans, and materials too.
The faculty with all their learning and industry experience present perfect models to learn from. Besides, students are consciously following in the footsteps of the seniors. They hear all about them and perhaps meet them socially. The placement records reveal where they have reached in the corporate race. During the first two semesters, they would be rubbing shoulders with the seniors on the campus.
PGDM candidates are not really so innocent. Having graduated already and collected ample work experience, they learn at higher levels. Sustained logical thinking and analytical ability are on the way besides personality grooming. Knowledge of business concepts grows with time, experience, internships and industry experience. Real live action augments and supplements whatever knowledge is gathered from books, supported by the infrastructure that carries a world of technology.
Along with all the mundane considerations, some elements of fantasy and imagination play crucial roles too. Unless students can imagine themselves in leadership roles and as stewards of industry, careers may not really succeed. Interestingly, according to recent reports, introverts make up the most successful business executives. Usually, outgoing personalities are recommended to possess the qualities of head and heart needed for management success.
The secrets of the business universe
The leading business schools the world over teach through the case study method very extensively, perhaps 75% of the time. Team projects and experiential learning make up much of the remaining time. So it is at IFBS and learning the business world and the secrets to success develop through a few stages during those two years made up of four semesters.
Specialisations deal with Marketing, Finance, and HR. Additional Specialisations are offered in International Business, Operations Management, Supply Chain Management, Retail Management and IT.
In addition, comes the overwhelming factor of skill development, a different world far from the textbook study. Business analytics explores the world of statistics. Predictive analytics helps to understand future events. Big data analytics examines large data sets to understand market trends. High Impact Soft Skills refers to team building and organising capability, communications, and leadership, among many other factors.
Neuroscience and Consumer Behavior combines consumer research with modern neuroscience. Six Sigma Green Belt Certification leads to extensive improvement in employee potential to benefit production. Statistical Software programs facilitate the collection and the organisation, analysis, interpretation and presentation of data. Digital marketing promotes products and services via digital electronic media.
Futuristic business management trends
The present being the gateway to the future, predictions often understand harsh realities. Just as online technology is booming and attracting shoppers worldwide, management potential looms very largely in the future. Besides running operations and production for lucrative markets, business basically involves selling a product. Finally, the sales potential is most important and markets have opened up the world over.
In the current scenario, some sort of withdrawal from the active global competition is being witnessed with Brexit and the Trump policies. Yet Chinese production continues unabated globally and the future looks good for Asia. India with unlimited FDI and the Make in India policy would boost production in the near future.
Thus, more and more professionally qualified and capable business management workers would be required the world over, particularly in the developed countries with a higher share of factories. The process of outsourcing production and labour to cheaper countries like China and Mexico finds opposition because native jobs are being lost. Robots may steal jobs from humans. In spite of some weaknesses, business management continues to be a vibrant field the world over and IFBS at New Delhi leads the baton of change.