Most of the MBAs today are pretty well versed in their theory, but they can’t turn any of the ideas into actual action. Many modern management programs, especially undergraduate courses, place too much emphasis on theory-based practice and tend to overlook the immense value a student can gain from practice-based theory. This has led to a general atmosphere of disenchantment and disillusionment in the industry with candidates trained in management school. According to The Associated Chambers of Commerce & Industry of India (Assocham), only 20 percent of students who graduated from B schools in 2017 have job offers. According to data available from the All India Council of Technical Education (AICTE), only half of the students graduating from AICTE-approved B schools are being placed. New-age managers, more and more employers feel, must offer more.

Given the large number of institutes offering MBA programs in India, this may or may not come as a surprise. Many institutes are nothing more than fancy buildings, with wi-fi and laptops for everyone. Unfortunately, they lack the most essential vital infrastructure to produce employable, industry-ready managers of the future. Many do not have quality teachers, others cannot meet the realities of the market, and still others have deficient placement services. What this does is give the student a degree or a diploma, but sadly it doesn’t equip them to deal with the real world in a lot of ways.

Given the current market dynamics, the economic situation, the ever-changing work environment, it is essential not only for MBAs to get up and running, but also for them to be able to acclimate and adapt quickly. However, the reality is that most management students enter courses directly after graduating from a bachelor’s course and have no work experience. What this means, realistically, is that by the time they graduate from your average management course, they know the theory, but they can’t turn these ideas into work-related actions. They do not possess the knowledge and skills so important to effective functioning in the workplace.

Also, very often business school curricula are taken directly from the West. While this equips them with a strong command of international theory, it often fails to take into account the huge paradigm shift, the difference in context that working in India will actually entail. There is a tremendous amount of cultural difference, not to mention greater diversity in almost every possible segment, much higher actual or potential growth rates, and much more regulation in emerging markets.

This is where institutes that focus on faculty with more industry experience, strong corporate connections, and a track record of bringing in experts from real market sectors will win in courses designed with an academic mindset. Academic content tends to be traditional and slow to change. However, the market in India and the world, especially in sectors like financial services, airlines, media, communications technology and more, is changing much faster than academia. The revised curriculum to focus on real-world problems is helpful, but “experts” can play a much bigger role; experienced mid- to senior-level workforce members who can share their valuable insights and working knowledge of how things work.

Experiential learning is much more durable than theoretical knowledge. Also, internships can play an important role in giving the student a reality check. A combination of good internship placements and industry-savvy faculty can equip the student with the ability to make quick and flexible decisions, take calculated risks, use multiple media and communication channels to maximize efficiency, have a practical grasp on marketing, See business processes at work, learn how to balance risk with reward, and more. Lecture rooms that operate in the discussion/workshop model rather than the lecture format can be combined with case studies to address immensely complex topics through dialogue, debate, and real-time domain-based knowledge.

Furthermore, management students preparing for the workforce of a new global world must also learn the softer aspects of management. Part of a manager’s job, a very important part, is communication. Other soft skills like presentation skills, teamwork, language skills, active listening, global good manners, business and professional ethics and more will add to managerial skills. The new age workplace is not just based on theory or academic studies and management students need to focus on developing soft skills as dedicatedly as they do their “prescribed courses”. They can’t afford to focus solely on writing and passing exams, they need to pay attention to what businesses really need in this changing world. Participating in industry networking events can add to this skill set, along with soft skills training, and make the managers of the future industry-ready.

In short, aspiring future managers and entrepreneurs should find a management course and a B school that emphasizes an up-to-date academic curriculum; A group of faculty with industry experience and hands-on experts, top corporate connections and industry ties through multiple events; Optimal Internship Placements; Proper emphasis on the development and training of soft skills; And last but definitely not least, Top Final Placement History Record. This will be the way to ensure future success.