At the recent BW Future of Management Education Conclave 2023 held in New Delhi, the Indian Institute of Management (IIM) Nagpur won the prestigious “Future of Management Education Award 2023.” IIM Nagpur Director Dr. Bhimaraya Metri received the award at the ceremony. The award, instituted by BW Business World, is a deserving tribute to the pioneers of Indian management education. The only people invited to this prestigious event were the heads of business schools.
Awards for the Future of Management Education were given in several categories. The first prize for the best business school for industrial training went to IIM Nagpur. The Best Use of Digital Technology prize went to IIM Calcutta, and the Emerging B School title went to Ramaiah Institute of Management.
Dr. Metri brought up a discrepancy between what is taught in business schools and what is actually practised in the industry during his participation in the panel discussion. “The current situation, in which industries learn about things first and institutes learn about them later, needs to be changed. He was adamant that academic institutions should teach new concepts and inventions to the industry rather than the other way around. Dr. Metri insisted that the institutes and professors must concentrate on preparing the students for life.
Dr. Metri explained the Executive Education programme at IIM Nagpur and said that it contributed 30% of the institute’s revenue. There are 25 different programmes offered by the IIM Nagpur’s Executive Education department.
Panel discussions, idea exchanges, and opportunities in education outside of the classroom were all part of the day-long event. In order to discuss how business schools are changing, more than 50 directors, leaders in management education, and business leaders gathered. The experts discussed how education was changing and how it was important to get students ready for a bigger stage. The panellists agreed that students and faculty members must constantly learn new skills in order to survive in a world that is changing.
Dr. Anurag Batra, chairman, editor-in-chief of BW Business World and founder of exchange4media, stated that this was an effort to acknowledge the significant work done by numerous institutes and directors in the field of management education while presenting the awards.