China has beaten India in terms of meeting benchmarks of quality and international reputation in management education. There are 10 AACSB accredited institutions in China as compared to none in India. AACSB accreditation is a rigorous and time-intensive process which takes several years and less than five percent on the institutions in the world have managed to achieve it. Chinese B-schools have shown better foresight and commitment to quality than Indian institutions. Here is a special report by BusinessWeek on B-schools in China.
This becomes even more depressing for India if one considers the total number of management institutions. There are more than 2,000 B-schools in India as compared to around 230 in China. Thus, while India is way ahead of China in terms of quantity, it has lagged behind in quality.
Chinese B-schools have also been more successful in forging international collaborations and offering joint-programs in China. For example, Washington Olin-Fudan, Shanghai Jiaotong-UBC and Fudan-MIT. Several Indian B-schools have student exchange programs, however, no big names offering joint-MBA programs.
The boom in business degree for China and India is driven by a combination of factors including increasing demand for MBAs by industry and higher salary premium commanded by MBA graduates. However, Indian B-schools also lost because of the lack of a strong quality assurance process and salary mania created by annual placement figures and rankings which propelled supply without enough emphasis on quality.
Indian B-schools need to come together and existing associations of management education like AIMS, AIMA have to take up a more proactive role in creating standards of self-regulation and quality. While people may question the quality of “Made in China” products, they have clearly surpassed India is terms of quality of management education.
Dr. Rahul Choudaha