Category Archives: Management Education

Management Education: Role of Educational Institutions in Nurturing Creativity

Every single individual is gifted with the innate quality of creativity. Creative thinking remains the most important factor in defining the uniqueness of every single mind. The organizations survive and thrive on the uniqueness of its people’s creative thinking as everything is imitable except individual’s ability to think critically and creatively.

In this context the role of academia is critical, which happens to be the source of providing the best talent to the industry. The key role of education lies in imparting purposeful knowledge to the students and hones their ability to think creatively as “creative minds are incubators of best ideas”. Education is the “Seed” that is embedded in students, and needs to be nurtured with time. It enhances their imagination, empowers their thinking, enlightens their minds and strengthens them to adapt with changes. Continue reading

Modi Era of Reforms and Evolving Management Education

The first wave of economic reforms was the result of the economic crisis in 1991 and led by Mr. Manmohan Singh. India gained a lot through these reforms but the task was unfinished. Later on Fiscal mismanagement, political profligacy, increasing corruption, absence of reforms in key inputs like land, power and labor, policy paralysis, lack of initiatives to promote innovation, and problems in running of business has set the stage for the Modi era and a new set of reforms.

Prime Minister, Mr. Modi has identified the need of the hour and Introduced Make in India, Digital India, Skill India, Start up and Stand up India, Transform India, Swachh Bharat Abhiyaan, Clean Energy Mission, Invite FDI, Smart City Mission, etc. The other initiatives are financial and communications inclusivity like the Jan Dhan Yojana, Aadhar Mobile Number Trinity, Revitalizing public sector banks , Ease of Doing Business (EoDB), cleaning the system from black money and corruption and finalization of the GST. Continue reading

What will make a Successful MBA?

In the build up to admissions for various management programs, it is an opportune time to reflect on who the management institutions are looking for to join us next year. Every university/institution is extremely proud of its students and look for a few distinctive traits that are common to all individuals within the MBA cohort.

Intellectual ability and a good academic track record are essential, of course, but as the institutions select the Class of 2017, there are three attributes that the Admissions Committee look for when selecting candidates for the MBA.

 Leadership

First and foremost, the institutions look for candidates who exhibit strong leadership potential throughout their academic and professional experience. This can take many forms: being selected for a leadership program at work (for the candidates who have work experience), launching a new business venture, captaining a sports team or leading a voluntary project – anything which demonstrates your ability to lead, inspire and motivate others. MBAs have the leadership potential not just to succeed in business, but to create new opportunities and be trailblazers for others. Today management institutions want candidates with the drive and ambition to change the world for the better. Continue reading

Management Education: A Tool to Develop Industry-Ready Workforce

The current economic environment is highly competitive and therefore strives for sustainability. A quality human capital is one of the key factors towards the economic sustainability. There is a strong requirement of a good and quality human resource who can develop this present need of environment without compromising the ability to meet their own needs. Today’s business world need people who can face the contemporary world challenges and can provide the initial corpus and direction to the business towards excellence. Organizations need good managers and industry leaders who can give best results through their communication skills, management skills, research skills, analytical skills, teamwork skills, leadership skills, managerial soft skills and achievement oriented personality.

Personality plays vital role in the success and growth of a person. As personality is a blend of inner psychological characteristics like emotions, thinking, attitude and mindset, which determines and reflect how a person responds to his/her environment therefore it is a corporeal characteristics and makes every individual different and unique. Though personality is developed right from the beginning of childhood but it is a continuous process which keeps on improving through the entire life of a person. Continue reading

Finance Specialization at MBA Programme of JKLU

In the fast paced and dynamic world of today, if something has not changed – it is Finance! Money still rules the World! The World is divided between haves and have-nots; i.e., those who have money and those who have not! After the recession of 2008, how we manage our Finances became quite important. The 2008 sub-prime crisis occurred due to the special financial instruments which few could understand! In the year 2015, with the crash in commodity prices, especially oil, countries like Saudi Arabia, Kuwait, Venezuela, etc. stared at declining oil revenues. In order to maintain their living standards, they started planning how to conserve their dwindling foreign exchange reserves and looking out for newer avenues for raising Finances! Again, in 2015, the World saw negative interest rates for the first time in Asia, starting from Japan! This unconventional monetary policy tool was used by Sweden’s Central Bank in July, 2009 for the first time. It means that for keeping money with the bank, don’t expect to receive any interest; in-fact, in reverse, one needs to pay bank for the same. And the borrowers receive interest for taking loans! All this calls for an understanding of Finance as an enabler, creator and conserver of money and fortune! The top class Finance Faculty at Institute of Management, JK Lakshmipat University, the best MBA University in Jaipur make the same understanding – a child’s play!

According to Investopedia, “Finance is the science that describes the management, creation and study of money, banking, credit, investments, assets and liabilities. Finance consists of financial systems, which include the public finance, corporate finance and personal finance, and the study of finance and financial instruments, which can relate to countless assets and liabilities.” In older times, barter system was used which took care of the payments – but, it had limitations. In modern times, currency in form of notes and coins took the place of barter system. Of late, the use of digital cash is on rise. Similarly, the simple notions of money, banking, investments, assets and liabilities have undergone a dramatic change in the last decade or so. Continue reading

JKLU and its contribution to management education in Rajasthan

Guided by the vision of noted philanthropist industrialist Lala Lakshmipat Singhania, JK Lakshmipat University was set up in Jaipur, the capital city of Rajasthan, in the year 2011. According to Lala Lakshmipat Singhania, higher learning and management skills are essential for Indian industry and economy to grow and compete globally. JK Lakshmipat University is built on the pillars of quality education, social service, commitment, dedication, Indian values through design and delivery of innovative and need based training programmes.

Under the visionary leadership of eminent and legendary personalities like Shri Bharat Hari Singhania (Chancellor, JKLU), Dr. Raghupati Singhania (Pro Chancellor JKLU, and winner of the famous TIA Hall of Fame 2015) and Dr. Roshan Lal Raina (Vice Chancellor JKLU; Ex-Professor IIM Lucknow, and a well-respected management thought leader) the university has attained such a stature that the quality of JKLU education system needs no promotion. As a recognition of the excellent quality of education and work done by JKLU, it has been felicitated with distinguished awards and honours such as ‘Indian Education Excellence Award 2012’, ‘Education Excellence Award 2013’, ‘Global Education Excellence Award 2013’, ‘South Asian Academy Award 2013’, ‘Quality initiative Mission Education Leadership Award 2013’, and ‘Best University for Academic Excellence in India’, Award 2015. Continue reading

JK Lakshmipat University, Jaipur (JKLU) & it’s USP

Since past decade, there has been a rapid change in the way global economy and business organisations have evolved. Thomas Friedman in his book “The World is Flat” suggested that today the rate of change in all aspects is much different than it was in the past. On one hand, world is becoming flat at a warp speed and the economic cycles are getting shorter thus posing newer challenges while on the other hand these changes are providing immense growth opportunities. In such a situation it is just a question of identifying opportunities and harnessing them. In this changing scenario, Institute of Management at JK Lakshmipat University, Jaipur (JKLU) established by JK group has emerged as one of the leaders in providing management education.

Under the esteemed guidance of highly eminent individuals like Shri Bharat Hari Singhania (Chancellor JKLU and President of the JK Organisation), Dr. Raghupati Singhania (Pro Chancellor JKLU, Vice Chairman & Managing Director of JK Tyre and winner of the famous TIA Hall of Fame 2015), and Dr. Roshan Lal Raina (Vice Chancellor JKLU and former Professor of IIM Lucknow) the higher quality of JKLU education system needs no promotion. The visionary leadership at JKLU generates a feeling of belongingness amongst students, faculty and staff making the environment extremely comfortable for young minds to focus on learning and experimenting with newer paradigms of management education and practice. Continue reading

Interweaving of Entrepreneurial Skill Development and Management Education

Entrepreneurship has been embedded in the Indian genius and is a part of Indian tradition since the time of Rigveda. In Indian context, entrepreneurship is more important as it is simply impossible for any government to provide means of livelihood to everyone. India has become a fertile ground for entrepreneurship by opportunities created by “Global Knowledge Economy” coupled with the “unshackling of Indigenous enterprise”. The present Indian entrepreneurial ecosystem is at the triggering point with lot of emphasis being given for bringing out entrepreneurial successes as small business is going to be a major driver and contributor to Indian economy.

The growing complexities of business decision making process have inevitably increased the necessity of formal business knowledge and entrepreneurial skills. Thus business courses especially management education has become a powerful means of empowerment and development of entrepreneurial skills and business knowledge. Management education is the best recipe with all required ingredients to provide relishes’ of doing business. Management education is indispensable for entrepreneurship skill development as the multi dimensional nature of the required entrepreneurial skills originates in management education and involves a combination of critical (objective, analytical and logical) as well as creative and empathetic ( lateral, imaginative and emotional) thinking. This skill development helps in creating an environment which encourages innovation. These innovations catalyses and flourish entrepreneurship by providing marketing opportunities which can be converted into wealth.

Institute of Management, JKLU, backed and sponsored by the JK Organisation, an Indian industrial conglomerate, is one of the top institutes for management in India. The integrated and dual degree programmes of Institute of Management, JKLU, inculcate not only the managerial skills but also sharpen the entrepreneurial skills to know about doing business by incorporating ‘Entrepreneurship Development’ as one of the core papers. The emphasis on practical learning, interaction with successful entrepreneurs and up-to date knowledge of business environment and business trends, and extensive analysis of real-life case studies make the management education programme of JKLU, the best management institute for studies in Jaipur, Rajasthan.

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Higher Education in India and contribution of Management Education towards growth and development of Nation

The concept of development has evolved from income and income distribution to human resource development. The essence of Human Development is education, which crafts the socio-economic fabric of the Country and Management Education Plays a significant role in providing strength to this fabric. The demographic dividend that most often is talked about now a days cannot be achieved unless our most valuable resource i.e. youth is nurtured and shaped through quality professional education. Economic well-being can only be realized by developing higher intellectual and professional capabilities of human beings and Institute of Management provides a perfect blend of strong academic rigor and practical industry interaction to aspiring managers.

A good quality human resource base is extremely important in today’s highly competitive environment. Management Education facilitates to have a better quality of life. At Institute of Management of JKLU the philosophy is not only to create good managers and industry leaders but also to groom students to take up entrepreneurship which ultimately leads to job creation. The projects, assignments and field projects help students to interact with industry and also take up industry problems and burning issues as a learning opportunity, no wonder sometimes these budding managers come up with innovative solutions that even practitioners might not have thought of.

An emphasis on taking up social projects in the undergraduate Management programme (BBA) of the University facilitates in strong social foundation. Such efforts in Management education are critical for developing a modern economy, a just society and a vibrant community. Continue reading