TAPMI & UNIVERSITY OF SOUTHAMPTON BUSINESS SCHOOL A WEBINAR on - PowerPoint PPT Presentation

TAPMI & UNIVERSITY OF SOUTHAMPTON BUSINESS SCHOOL A WEBINAR on Navigating the Pandemic & its Aftermath Re-imagining Management Education Post-COVID -19 Professor Madhu Veeraraghavan . Director & T. A. Pai Chair Professor of Finance, TAPMI, India Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Paradisal TAPMI Photographed on June 3, 2020 Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

“Management is not a profession, management is not a science. You can’t learn it the way you learn surgery or engineering. Management is a practice. And you learn management by practicing management.” -Henry Mintzberg, Rethinking the MBA Source: https://hbr.org/2009/03/rethinking-the-mba.html) Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Management Education Scenario – India AACSB Over 3,000 B – Schools offer MBA and PGDM 14 8 20 IIMs and 7 IITs 3 AMBA EQUIS Approximately 650, 000 students enrolled in Management Programs 12 5 Source: https://mhrd.gov.in/sites/upload_files/mhrd/files/statistics-new/AISHE%20Final%20Report%202018-19.pdf Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Most governments around the world have temporarily closed educational institutions to contain the spread of the COVID-19 pandemic COVID-19: Disrupting Education Worldwide Nationwide closures are impacting over 60% of the world’s student population. Source: https://en.unesco.org/covid19/educationresponse/ Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Significant disruption of higher education sector – critical determinant of country’s economic future Decline in the demand for international higher education is expected What does COVID-19 mean for Education Sector? Effect on employment rate - withdrawal of job offers from corporates The Centre for Monitoring Indian Economy’s estimates on unemployment shot up from 8.4% in mid-March to 23% in early April and the urban unemployment rate to 30.9% Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Disruptions in Academic Calendar Admission Deadlines have been pushed and Admission Processes are being modified What does COVID-19 Many academic engagements like Exchange Program that are aimed mean for Education at Experiential Learning have been put on hold Sector? Demands for fee reimbursements Large-scale deferral of admissions Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Top global B-schools including HBS and Chicago BOOTH have moved their Classes completely Online Convocations, Classes, International Disrupting MBA Exchanges and Program commencements have been postponed Education Worldwide the world over, including India GMAC – GMAT™ and Executive Assessment testing has been suspended in many locations worldwide Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

The Biggest Near- term Problem? Realistic and Communication to Achievable the Aspirants The Uncertainty of Enrolment Goals the Next Academic Instilling confidence about the institute being resilient Accurately modeling what Year Assuring that unique student enrolment outcomes will look experience will not be like compromised Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Shifts in how education Severe disruptions to the and training are academic calendar - imparted, how while travel and training instructors teach, how are on hold learners access courses Driving Habit Shifts Led to a radical Need for ‘Virtual - restructuring of the communication mettle’ education system Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Online education is already a long-standing feature of learning Why is it not a norm already? The New Normal? When businesses have already moved from offline to online in the Pre- COVID times, why hasn’t higher education not moved to online? Inherent inflexibility of our legacy processes Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Re-evaluation of Adjustments to Mobilising the model for transition into the resources to make delivering new learning these changes, education where environment backed by the mobility is seamlessly relevant Reimagining Management seriously under technology and threat platforms Education – A Paradigm Shift? Offline or Traditional in- conventional person classroom education models learning will be will not become complemented obsolete with new learning modalities Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Adaptability Leadership and Flexibility Competence Emotional Technology Sought-after Skills Intelligence Competence Post COVID - 19 Digital and Data Literacy Coding Skills Critical thinking Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Strategic Remote Work Effective Team Design and Management Elevated Standard Operating Practice The Future of Businesses Breaking Out of Silos and Improved Workplace Culture Dina Gerdemen (2020). How the Coronavirus Is Already Rewriting the Future of Business. Harvard Business Review New Work Priorities Trust-based cultures with employees Businesses will help customers be more helpful Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Three Foundational Pillars The Future of Education Creating a Building a Redesigning Gupta V., Schwartz J., Kelkar M., & Malik N.,(2020). Toward student-centricity - forward- Revamping Indian higher education for the future of work. Deloitte Insights Report growth learning looking mindset models leadership Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Faculty Students Industry Parents The Future of Education Gupta V., Schwartz J., Kelkar M., & Malik N.,(2020). Toward student-centricity - Revamping Indian higher education for the future of work. Deloitte Insights Report Revamped Higher Government Alumni Education Sector Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Who We Are and How Are We Transitioning post COVID 19 Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

MISSION “To excel in post -graduate management education, research and practice” VALUES Excellence, Innovation, Commitment, Student-Centric, Trust Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

National Institutional Ranking Framework (NIRF) India Rankings 2020 – Management: #27 among top B-Schools in India # 19 Overall Rank Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Emphasis on High-Quality Research Social Responsibility Finance Lab with 16 Bloomberg and 7 Reuters Terminals Experiential Learning – BrandScan and Student Driven Placement and Corporate Events Simulation Leadership Assessment and Development for all Students Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

How are we Responding to COVID-19 Transitioning to Virtual Curriculum Change and Change in Extensive Method of Communication Assessment Strengthening Supporting the Industry Transition Connections Support to Student, Faculty, Staff and other stakeholders Please do not copy, cite or distribute without Professor Veeraraghavan’s permission

Academics • Restructuring the infrastructure for online delivery • 14 interactive classrooms • 25 CISCO WEBEX licenses • Exploring e-book options with Amazon Kindle for textbooks • Exploring platforms for conducting online examinations Placements • COURSERA courses rolled-out for the entire batch to impart additional Transition@TAPMI skill-sets to facilitate placements • Industry engagements moved from physical visits to Webinars (IGNITE) • Roll-out of PDP programs through KUBOS from June to September 2020 • Physical infrastructure being set-up to facilitate online placement process General Support • Fortnightly WEBEX based interaction between the Director and the students • Continuous faculty interaction to help and guide the students Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.

Transition at TAPMI Restructuring the infrastructure for online delivery 14 interactive classrooms Academics 25 CISCO WEBEX licenses Exploring e-book options with Amazon Kindle for textbooks. Exploring platforms for conducting online examinations Thank You COURSERA courses rolled-out for the entire batch to impart additional skill-sets to facilitate placements Placements Industry engagements moved from physical visits to Webinars (IGNITE) Roll-out of PDP programs through KUBOS from June to September 2020 Physical infrastructure being set-up to facilitate online placement process Fortnightly WEBEX based interaction between the Director and the students General Support Continuous faculty interaction to help and guide the students Please do not copy, cite or distribute without Prof Madhu Veeraraghavan’s permission.