Excerpt from my article published in MBA Review (November 2009).
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Indian higher education is in serious need of regulatory reforms, but I argue that many institutions are also finding excuses in the regulatory structures for ignoring areas which are very well within an institution’s reach. Institutions underestimate the value of students in their reputation building process. Students (and future alumni) are both their product and salesman. Quality of institution is very much judged by the quality of alumni and, hence, institutions should work on not only attracting the best talent, which includes faculty members, but also nurturing them as long-term brand ambassadors.
Excellence is directly related with leadership and leadership cannot be regulated. Hence, institutions which are truly determined to build world-class institutions, would assess, adapt and lead to achieve the goals. Indian B-Schools aspiring to achieve excellence need to make a transition from the existing mindset of imitation, costs and competition towards innovation, investments and collaborations.