Every year lakhs of management professional pass out from various institutions and universities. Unlike early days the management education attracts a large number of younger populations and more number of jobs are created in this sector. Every organization, both in the public and private sector, has a management division, which shapes up the vision and growth of the firm.

The management division is essential to take care of the overall functioning of any institution. They include the financial, human resource, marketing departments and most of the decisions regarding the performance of the entity are taken here. These decisions ultimately define the success or the failure of the organization.

Always aim for the sky

We know how important is the management division. Hence the management training needs much more attention. We have to make our young professional capable enough to take suitable and timely decisions. A management professional is not supposed to just carry out the order and follow the boss. Today the corporate gives enough freedom for the professionals to make and implement necessary choices. Only thing that is being assessed is his/her performance and the valuable output they bring to the entity.

It is a common saying in the management field that in business only change is a permanent factor. It is not only the environment is supposed to change every time, it’s your product or service, your offering to the market, that also needs to be modified timely. Change can be in every element it is in the corporal or emotional level; it can be seen in the individuality or in the way of living. The change element in business lies on the basic assumption, people love change. Today the customers are looking for multiple options; right from the drinking water to the technology. They need more values, features and comfort. They are looking for better performance and style in every accessories of daily life. This is the market scenario and the professional should clearly understand this before entering into the industry.

Innovation- A Market View

Innovation is part of change and there is clear line between innovation and invention. New ideas are implemented with the existing resources it is termed as innovation whereas the new discoveries are termed as inventions. The fresh management graduates have to answer some the question when they are in frontend of the decision taking part.

The major one is regarding product/service. What are the timely changes introduced to the product features, style or in the performance part. The elements are relevant in the service sector also. No one will encourage you to introduce the existing ideas and features.

Innovation and invention is the key to success

The new recruits in the marketing division have to do a lot of brainstorming so as to come up with new thoughts. So to satisfy these demands it is not just the knowledge that you need but you would also need to have good amount of practice and experience in the idea generation. Here the innovation concept in the management education playing its part. The management curriculum must address this demand of the industry and make students capable enough to face such situations.

Out of the Box!!!!

Here are some practices that needs to be implemented n the management education.

Most of the institutes follow the case study and role playing techniques. But the question is the relevance of these materials.  The innovation should happen in these materials. Most contemporary and localized materials need to be included rather than discussing the unknown names and issues. The students can take a relevant topic for the discussion and they need to be prepared before the actual discussions. This will help the students to going through different cases and able to understand at least some of them from the long list. These types of practices provide a basic knowledge not less than the experience.

Out of the Box Thinking

Internships should be made mandatory in the management studies. The internships provide real life experience about the industry and the particular job area. The projects are to be made more real business cases rather than being academic. Make sure the Industrials visit and Guest talks are effectively used in the learning process.

Movies can play a lot in the management education. It can be an effective teaching aid for most of the managerial concepts. For example the concept of Negotiation can be easily understood from the movie ‘Thank you for Smoking’. There is lot many movies based on the same concepts. The sales and marketing is the basic script for many national and international films. The faculties can suitably use this medium for the purpose of teaching. The technology can have a greater emphasis in innovative studies and the multimedia technology can use for the effective teaching purpose.

The co-curricular activities should be encouraged in management studies. This will provide freshness and enthusiasm in the learner. The management festivals should be organized at state and national level providing a platform for management students to participate, share and learn. These festivals contribute greater in building the confidence and persona of the participant. It serves as platform for most of the new ideas and startups.

The quality of the teachers should be standardized so as to guide the future successful mangers. The teachers also need to put some more effort in the teaching part and need to update their knowledge about the industries and about the business environment. They have to use the effective examples and teaching aids to clear a specific concept and make the studies out of the text books. It assessment should based on the practical knowledge rather than the expertise in theoretical knowledge.

The out of the box concept is widely used in the business field. But there is no clear definition about this concept and the important fact is that one should understand that in this aggressive world width of the box should be larger than your competitor. The education system should able enough to help the students improve this width. The simple efforts can bring greater changes in the overall system. The innovation always stands for the betterment of the existing one, no matter whether it is a product or a practice…