What can Indian B-Schools learn
Can you recognize a school or subjects driven by entrepreneurs itself?
A program in Texas, Austin called ActOn MBA speaks for itself.
The Program makes the 2 years of MBA become totally free for the deserving applicant. Selection is very tough indeed for the selection has to be for those with proven work experience and has to show the flavor of entrepreneurship DNA in their attitude with leadership skill.
The Industry does not have the wherewithal to develop the new generation of business leaders as an “intrapreneur” to “entrepreneur” eventually. So they have trusted ACTONMBA campus with the annual fees of 56,000 $ but the student has to pay the half of 28,000$ when he gets selected. The sponsor pays the second balance. Then when he passes out with a rigorous program of 2 years, the balance 28,000 is paid as refund by paying the final year fees . But the MBA graduate has to work for 3-4 years to get into the groove of the sponsoring organization. Then after that takes on leadership role of independent organization or as relationship evolves with stock options. In the selection process for ActOnMBA the funding organization does NOT get to know or involves with candidates.
The question is to what extent can the model be replicated in Indian B-Schools?
There is a time of fresher’s welcome incubation period after joining the B-schools. If the entrepreneur ventures or companies, come in the campus and make a class pre-joining offer in the campus for some of the students who want to work in such companies, then the load of paying off the loan is warded off and the students can actually concentrate on academics only. But if the student seeks to change his funding company, he can do so by returning back the money to the sponsoring organization within 3 months of his graduation. This will also lead the change of not hunting the job, and the stay can be very productive.
I was also impressed by Prof. Kamdar’s quoted words in the Deccan Chronicle, which talks about “experimental learning”. Can the B-school develop a mechanism where a student has to write a case based on the inputs of a professor given in the class? Or can there be a course work that attends the need of non-profit organizations as a part of the course work. It definitely improves the concern for the society of the school and binds the CSR part. Or can there be a class where contemporary issues in the world from A to Z are discussed, and the next strategy of outcome in the future are cared for.
What do you think of this?