Top IIMs need greater autonomy, must evolve into universities: IIM Kozhikode Director
In an exclusive interview, IIM Kozhikode Director Prof. Debashis Chatterjee discusses the institute’s rise in the National Institutional Ranking Framework (NIRF) and outlines a vision for the future of management education in India. He emphasizes the need for greater autonomy for India’s top Indian Institutes of Management (IIMs) and advocates for a shift towards a multidisciplinary university model.
The Journey of IIM Kozhikode
Prof. Chatterjee reflects on IIM Kozhikode’s ascent to the NIRF top three, attributing this success to a strategic focus on three key areas: digitization, diversification, and disruption.
Digitization
According to Chatterjee, digitization is not merely an addition to the curriculum but a strategic shift. IIM Kozhikode was the first IIM to recognize the challenges posed by its remote location and began implementing digital solutions as early as 2001. This foresight led to the development of a hybrid executive Post Graduate Programme (PGP), which has now attracted 700 high-performing individuals from multinational and Indian companies.
Diversity
IIM Kozhikode has also made significant strides in promoting diversity. In 2013, the institute was the first IIM to achieve a 53.75% female enrollment rate. Today, it offers various programs, including four different PhD tracks and multiple MBA specializations. This diversification extends to an undergraduate program, which Chatterjee believes will help IIM evolve into a full-fledged university.
Undergraduate Program
The Bachelor of Management Studies (BMS) is a four-year program with an exit option after three years. Unlike traditional BBA programs, the BMS is designed to provide students with multiple pathways, allowing them to pursue other fields such as economics or physics after their initial studies. This innovative approach aims to reduce the pressure of immediate job placement and encourages students to become job creators instead.
The Role of AI in Education
As artificial intelligence (AI) continues to reshape industries, Chatterjee stresses the importance of integrating AI into the educational framework rather than restricting its use. IIM Kozhikode has established an AI policy that encourages students to engage with the technology. For instance, students can use AI tools like ChatGPT for term papers, but they must disclose AI-generated content and produce additional original work.
Value Proposition of an MBA
With rising fees and scrutiny on the return on investment (ROI) of an MBA, Chatterjee argues that the value of an IIM degree extends far beyond immediate salary comparisons. He suggests that students should consider the long-term benefits over a 30-year horizon, emphasizing that the ROI for IIM graduates includes a broader “Return on India” perspective, where generated resources are reinvested into the institution.
Competition Between MBA Formats
Chatterjee addresses the competition between one-year Executive MBA programs and traditional two-year MBAs. He likens the two formats to different forms of cricket, each with its relevance. The one-year program is suitable for experienced professionals, while the two-year program allows fresh graduates the time needed for reflection and application of learning.
The Future of Placements
In light of recent turbulence in placement trends, IIM Kozhikode has redefined its approach to career services. The office is now called CARE (Corporate Access Readiness and Engagement), focusing on preparing students for the evolving job market rather than merely securing placements. This shift reflects a broader understanding of the need for talent readiness in an uncertain global economy.
The Call for Greater Autonomy
Chatterjee advocates for increased autonomy for the top IIMs to compete on a global scale. He argues that regulatory breathing room is essential for these institutions to innovate and adapt to the changing landscape of management education. By evolving into multidisciplinary universities, top IIMs can better serve the needs of students and industries alike.
Conclusion
As IIM Kozhikode continues to climb the ranks of management education, its leadership under Prof. Debashis Chatterjee highlights the importance of embracing change. The push for greater autonomy, the integration of AI, and a focus on diverse educational pathways are all part of a vision that seeks to redefine the future of management education in India.
Note: The views expressed in this article are based on an interview with Prof. Debashis Chatterjee and reflect his insights into the evolving landscape of management education.
