In India, it is a common practice for students to term management colleges and institutes as B-schools. But, did you know that IIMs do not consider themselves as B-schools? Prof. V K Unni, Faculty - Public Policy and Management Group, IIM Calcutta, explains why IIM Calcutta and other premier MBA colleges in India should not be seen as B-schools. In the latter half of the video, he also talks about the opportunities and challenges that the Digital Age has brought in for the businesses today.
Extracts from the Interview
Why IIM Calcutta is not a B-school?
Unlike many other institutes, IIM Calcutta doesn’t consider itself as a B-school. The prestigious institute takes prides in calling itself a management school! While the term B-school implies that it only focuses on the problems related to businesses, IIM Calcutta views itself as a Management school that has a broader focus and is concerned with all the management problems i.e. problems related to business sector as well as from other industries These include
This is what makes IIM-Calcutta much more than a B-school.
Taking this concept further, IIM Calcutta believes in building good corporate citizens who are not only concerned in maximizing business gains but are also equally driven when it comes to ethical practices. And such ethics can only be imbibed into the students by a management school that lays equal emphasis on all the aspects related to management i.e. business, corporate social responsibility, sustainable growth etc.
Challenges & Opportunities Faced by Businesses in the Digital Age
The advent of the Digital Age in the last decade has had a great impact on our way of Life; this includes our personal as well as the professional lives. The changes that have been introduced in last few years couldn’t even be imagined 15 years back. But, with changes come new opportunities and new challenges that need to managed and solved, especially for businesses and corporations. This means that businesses and corporations have to alter and re-model their marketing strategies, fund-raising strategies in line with the digital platforms and the facilities provided through them. For instance, in the case of fund raising, today, start-ups can gather funds for their businesses on varous digital platforms through crowd-funding.
This is what students at IIM Calcutta are introduced to and are also trained to use these new-age digital tools to the best of their abilities to maximize business prospects and opportunities. The faculty at IIM-Calcutta work with the students to explore these new avenues in the digital realm and also publish research papers and reports which are then used by various organizations for their businesses. In this way, IIM Calcutta is preparing students to face the challenges and exploit the opportunities to excel in the digital age.
About the Expert
Prof. V.K. Unni is a faculty of the Public Policy & Management Group at IIM Calcutta. Since April 2018, he is also the Chairperson of the PGP (Post Graduate Programme in Management) – the flagship management programme at IIM-Calcutta. He has been a part of IIM-Calcutta for over 9 years and offers courses in Public Policy, Business Law and Regulatory Compliance.