Martin Parker, professor of the Department of Management, University of Bristol, has been teaching in business schools since 1995. In an article in The Guardian, he unequivocally lambasted business schools that are run more for profit rather than to truly educate students. He calls for a shutdown of most such business schools running solely for profit. Students expect degrees for cash but are not competent enough. Insiders term business schools as “cancerous machines spewing out detritus”.
Non-profit
The online MBA today has another perspective on business schools and their operations. Business schools in Delhi NCR can be divided into two categories: for profit and non-profit. Even claims to be “non-profit” are dubious since they charge exorbitant fees so where does the money go? Profits are supposed to be used for public, read student, benefits. That rarely is the case. Pertinent is that such non-profits may not focus on quality of education, employing suitably qualified faculty or focusing on up to date curriculum or even placements. Students just get a paper degree, not capabilities.
Profit
That would make a good case for business schools in Delhi that are profit oriented. They charge high fees and promise best quality education and facilities as well as placement, supported by lots of costly advertising to lure in students. At the end, since they are motivated by profits, such business schools in Delhi cut corners wherever they can. They may not employ faculty drawn from IIMs with industry experience but will give positions to past students and offer them low compensation. Quality of education suffers. The student suffers.
Regulations and quality
IIMs, Harvard and Stanford have quality standards. Unfortunately business schools in Delhi NCR are not governed by any law or regulation that defines minimum quality standards in education. This means it is up to the institution to define quality and implement it. Quality costs so compromises are inevitable. If professors are offered a low pay then it follows that the best professors are not likely to take up jobs in such institutions. Such business schools in Delhi may not care much about curriculum, leave alone modify it or upgrade it to reflect contemporary trends.
Overall
Non-profit business schools in Delhi, whether they are genuinely constrained by funding or purposely ignore the true purpose of education, cannot measure up to highly professional institutions like IIM that have their quality standards at par with the best business schools in the world. Profit driven business schools in Delhi may diverge in their paths, some or most of them running it as a business. Only a few can be marked out as being quality centers of education by their faculty, curriculum and method of teaching.
It must be admitted that education is a business in which there is no recession. It is a necessity should a student wish to make a career and institutions milk students for all they are worth without any scruples. If you are planning to obtain a business management qualification, it pays to assess the institution before parting with hard earned cash.