Transforming Business Schools in India for a Knowledge Society: A Prerequisite to Remain Competitive

Abstract

In a knowledge-society where economic development is driven by Knowledge as the true capital and knowledge workers as the new agents of change or the new capitalists of the economy, Business Schools have to create a stimulating environment congenial to autonomous research, breakthrough ideas and innovations. This is besides offering programmes on scientific and technical education that cater to the requirements of employment and corporate and industry requirements. In the light of these major developments, the Schools of this aeon of knowledge-society are not only social institutions committed to the welfare of the community at large but play a critical role as catalysts in transforming the society. The changing scenario demands an overhaul not only in the outlook and systems existing presently but also their roles and activities. The lacunae in the pre-existing structure, system, strategy and orientation of the Business Schools in India make them unable to do justice to the new roles thrust upon them by the knowledge society. This paper attempts to educate administrators of business schools and hone their skills to deal with challenges that they might face while advancing towards a knowledge society and suggests the framework that would help them to make a successful transition.

Keywords: Knowledge Society, Transformational Instructional Methodology, Autonomous Research, Technical and Functional Quality, Transition Management Strategy, Business Process Re-engineering

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