AICTE remodels MBA course; includes Indian Ethos in the curriculum

AICTE has introduced a mandatory course titled, ‘Indian Ethos and Business Ethics’, which takes effect this year in the revised curriculum. It also focuses on the non traditional courses such as Entrepreneurship, Analytics etc. Read on to find out.

The MBA / PGDM students, from this year onwards, will have to take a course on Indian Ethics and Concepts, according to the revised curriculum by All India Council for Technical Education (AICTE).  This move is an effort to impart 'good values' in future CXOs of India and abroad.  The AICTE panel has introduced a mandatory course titled, “Indian Ethos and Business Ethics” in the list of 'core courses', which takes effect this year.  

 

A committee formed by AICTE reviewed the current MBA / PGDM curriculum, and organized a survey to seek the views of different stakeholders of management education in India, corporate executives, employers of business graduates, alumni and current students.  Some of the primary findings of the survey were -

 

(1) Soft Skills, Personality Development and Communication 

(2) Need to Promote Entrepreneurial Thinking

(3) Lack of Industry Collaboration

(4) Limited Number of Electives

(5) Current Admission Process is Non-inclusive and Lacks Diversity

(6) Lack of Exposure to Case Study and Practical Approach

(7) Low Emphasis on Analytical Skills

(8) Absence of Local Needs of the Business

(9) Exposure to Social Sector is Needed

(10) Absence of Indian Ethos and Value System

(11) Absence of Managerial Requirements of SMEs

(12) Public Policy Issues Ignored

(13) Absence of Any Innovative and ‘Out of Box’ Thinking 

 

Based on these findings, the committee revised the 'model curriculum' to achieve the following six most popular learning outcomes -

 

+ Business Environment and Domain Knowledge

+ Critical thinking, Business Analysis, Problem Solving and Innovative Solutions

+ Global Exposure and Cross-Cultural Understanding

+ Social Responsiveness and Ethics

+ Effective Communication

+ Leadership and Teamwork 

 

New Program Structure and Credits

 

The minimum number of class-room contact teaching credits for MBA / PGDM program is 96 credits (1 credit = 10 hours), and Field Work / Internship is 6 credits.  Therefore, the minimum number of credits for award of MBA / PGDM course is 102 credits.  Of the 96 credits, 54 credits are allotted to Core courses and rest of 42 credits for Electives.

 

 

MBA or PGDM Courses

Number of Credits

First Year

MBA (I and II Semesters) or PGDM (I, II, III Terms)

54 Credit of Courses

Second Year

MBA (III and IV Semesters) or PGDM (IV, V, VI Terms)

42 Credit of Courses

Internship or Field Work

6 Credits

Total

102 Credits

 

Core and Elective Courses for MBA / PGDM programs

 

Core courses of MBA/ PGDM programs provide a holistic approach to management education, giving students both an overview of the field, and a basis to build, and specialize upon. These core courses are the strong foundation to establish management knowledge and provide broad multi-disciplined knowledge that can be further studied in depth during the elective phase.  

 

Functional Areas

Core Courses

Foundations of Management

Managerial (Micro) Economics

Indian Economy & Policy

Business Communication

Legal and Business Environment (Micro & Macro)

Indian Ethos and Business Ethics

Finance

Financial Reporting, Statements and Analysis Corporate Finance

Indian Financial System & Financial markets

Marketing Management

Marketing Management

Marketing Research

Operations Management

Operations Management

Project Management

Management Information System

Computer Applications for Business

Human Resources Management

Human Resources Management

Managerial Skills for Effectiveness

Organisational Behaviour

Organizational Behaviour

Organisation Design

Strategy

Corporate Strategy

Corporate Social Responsibility & Sustainability Entrepreneurship

Business Analytics

Business Statistics and Analytics for Decision making

Quantitative Techniques

 

 

 

Functional Areas

Elective Courses

Finance

Investment Analysis and Portfolio Management

Managing Banks and Financial Institutions

Project Appraisal and Finance

Valuation

Financial Markets and Services

Mergers, Acquisitions and Corporate Restructuring

Financial Derivatives

International Finance

Behavioral Finance

Taxation

Marketing Management

Consumer Behaviour

B2B Marketing

Retail Management

Sales and Distribution Management

Marketing to base of Pyramid Consumers

Integrated Marketing Communications/ Promotion Strategy

Digital and Social Media Marketing

Product and Brand Management

Services Marketing

International Marketing

Operations Management

Supply Chain and Logistics Management

Quality Toolkit for Managers

Pricing and Revenue Management

Operations Strategy

Sales and Operations Planning

Behavioral Operations Management

Operations Research Applications

Management of Manufacturing Systems

Sourcing Management

Supply Chain Analytics

Human Resources Management

Manpower Planning, Recruitment, and Selection

Employee Relations

Human Resource Metrics and Analytics

Compensation and Benefits Management

Performance Management Systems

Team Dynamics at Work

Strategic HRM

International HRM

Cross Cultural Management

Understanding Self: Indian Perspective 

Organisational Behaviour

Organizational Change and Development Leadership

Management Information System

Data Mining for Business Decisions

Managing Software Projects

Managing Digital Innovation and Transformation

IT Consulting

E-Commerce and Digital Markets

Strategic Management of IT

Managing Digital Platforms

Strategy

Strategic Management of Services

Competing in Global Markets

Dynamics of Framing and Executing Strategy

Entrepreneurship in Practice

Foundations of Strategy Consulting

Strategic Leadership

Designing and Configuring Business Models

Corporate Governance

Business Analytics

Data Visualization for Managers

Business Forecasting

Data Science using R

Data Mining

Marketing Analytics

Entrepreneurship

Technology Appreciation and Intellectual Property Rights

Innovation Technology Management

Indian Models in Entrepreneurship

Social Entrepreneurship

Venture Valuation and Accounting

Entrepreneurial Marketing

Entrepreneurship Lab

International Business

International Marketing Management

International Trade Laws

International Labour Organization and International Labour Laws

Micro and Small Business Management

Design and Change in Organizations

Planning, Structuring, and Financing Small Business

Business Plan Preparation for Small Business

Marketing for Small Business

Finance and Accounting for Small Business

Retail Management

Logistic and Supply Chain Aspects in Retail Management

Retail Brand Management

Retail Consumer Behavior

E–retailing

Electives in Emerging Areas

Infrastructure Management, Tourism and Hospitality Management, Health Care Management, Social Enterprise Management, Agri-Business Management, Educational Institutions Management, Sports Management, Management of Rural Business

 

Since, AICTE has been mandated to ensure the quality of management education in India, the proposed recommendations are a welcome step in the direction of improving the quality of educational content.  These recommendations, if implimented correctly, should be able to give the management education in India a much needed right direction.