Most MBAs Know Theory But Can't Convert Ideas Into Actions

A lot of modern management programmes put much emphasis on theory-driven practice, writing offthe incredible value in practice-driven theory

- Rajendra Srivastava

Why is there such disenchantment with management school curricula and what is the fix? Before we go on to talk about the upgrades that need to be incorporated in management education to make it suitable for newage managers, we have to dive a little deeper to understand why this need has arisen, what the gaps are, and further, identify possible solutions.

First, there is no dearth of MBA programmes in India and abroad. However, many of these schools have just the infrastructure and not the elements that are more essential to the programme—quality faculty, courses that address market realities and placement services. To fill this gap, most of them rely heavily on adjunct faculty that may bring relevant experience but not the learning that requires a blend of theory and practice. Experiential, tacit learning is far more durable on strong theoretical foundations.

People go to management schools to advance their careers. The absence of quality faculty and programmes results in an education that falls short of industry requirements.

Due to the current market dynamics and the rapid change in work environment, it is important that MBA graduates hit the ground running. Unfortunately, a vast majority of students in MBA programmes join directly after undergraduate studies, with no work experience. This limits their ability to ask the right questions. When they graduate, they are armed with theory, but can’t convert ideas into actions; they are devoid of insights and skills that are required to execute in the marketplace.