Consulting firm Deloitte India is open to hosting internships for faculty members of management colleges as a way to reframe business education in the country and bridge the talent gap between what the industry wants today and what many business schools offer.
With the digital transformation of the industry processes, collectively referred to as Industry 4.0, underway for at least three years now, 'Education 4.0' is also necessary, Deloitte India Partner and Chief Talent Officer, SV Nathan, told Business Today.
"For Education 4.0, I will be looking at internships for the faculty members so that they get a real idea of what is happening within organisations."
To be fair, the top B-schools periodically review their curriculum with a panel comprising industry members. Nathan, too, said it may not be correct to paint all colleges with the same brush. But certainly, there are some gaps, he said, underscoring the often-cited industry-academia gap.
"Learning for a degree, simple and single specialisation, and a fixed curriculum approach are all passé. There exists a gap in a multidisciplinary approach to learning," he said.
For instance, an MBA graduate in marketing can sometimes be so involved in marketing that they miss out on the rest of what is happening in the organisation. "A deeper understanding of how the business works and the connectedness of it all is important. Not everybody is able to get this down," he added.
As companies are transforming the way they conduct business, especially necessitated by the pandemic, consultancy firms have been some of the largest recruiters at the top business schools in the country for the past couple of years.
Deloitte, one of the Big Four auditors in the country, offers advisory and related services to the biggest listed companies across sectors. They deploy talent hired from management schools on problem-solving projects for clients across industries.
"Earlier, companies had the luxury of getting students from business schools and putting them through management training programmes. Today, nobody has this luxury. You need to get people who are plug-and-play. We are expecting an integrated multidisciplinary approach."
Unless faculty members experience first-hand what companies do and understand their demands, it will be difficult for them to design the curriculum, experts believe. "This will be the game changer in Education 4.0…if any of these schools is interested in sending their faculty members for an internship, I would be very open to it," said Nathan.
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