Executive education becomes a priority
"Education's purpose is to replace an empty mind with an open one".
- Malcolm S. Forbes.
HAVE you ever wondered why those top executives with great jobs and handsome perks still bother to join B-schools? Why is it that there is a steep rise in the ratio of executives enrolling themselves for management studies? Executive education comprises corporate executives flocking to those prestigious IIM's and several other such institutes in the country to keep themselves abreast of the current management concepts and trends.
Freshers joining the institutes for studying management can only gain theoretical knowledge as they don't have any hands on experience regarding the courses being taught. Where as these executives with their considerable experience are able to study the management trends at a deeper level by relating it to their work experiences.
The fact that pursuing their education will help their careers to take a giant leap, inclusive of a great hike in their pay packages; will help in career shift say from one specialisation to another is also making those executives to study further.
Executives need not take a break from their job any more to do their MBA, management institutes have started offering courses especially only for those with considerable corporate experience. After having gained valuable experience in their field of work these executives are getting back to the classrooms to specialise in their field. Studying while working will make it easier for the executives to pay those huge bills of management institutes.
Executive education in India can be primarily divided into management development programmes and MBAs. Institutes are also offering group discounts for those companies sponsoring more number of executives for these programmes.
Executive education makes the executives come in close contact with management honchos from all over the world. CEOs of several companies have started undertaking pedagogical assignments with those premier institutes and faculty from various reputed management institutes also give guest lectures to these executive students.
Companies view this as a retention strategy and as a means of creating a brand image for their company and are eager to sponsor their executives by providing financial assistance. Infosys Technologies Limited offers sponsorship to those employees who have been associated with their company for more than a year.
A recent survey reveals that most of the executives are doing their MBA while being employed and handling familial responsibilities. It was also observed that availability of part-time MBA courses and online MBA degrees has enabled more women to pursue the courses of executive education.
Besides, IIM-A and IIM-C have entered into a strategic alliance with NIIT to offer an executive education programme that uses the virtual medium to reach its students.
Executive education offers practical knowledge to its aspirants and B-schools are coming up with several innovative techniques to make their study experience enriching and memorable. Harvard Business School had initiated one such program me, viz. Innovative Immersion Programme, wherein the students were taken to China and Greece and will be given an opportunity to study their economies and the factors influencing them.
Being in responsible positions with hectic schedules, it may not be feasible for executives to go through the general courses to pursue their choice of study. Such executives need short-term exclusive courses, courses that deal with the subject of their choice alone so that their time will be well spent.
In a survey conducted by UNICON, the International University Consortium for Executive Education, it was found that most of the top management institutes are witnessing a huge demand for their customised executive education programmes when compared to the courses that are of open enrollment in nature. Asian International Executive Programme is one such course offered by INSEAD, Singapore.
Some institutes are actually taking the pains to go companies to do research about executive needs and then design specific courses based on their study. Some U.S based companies like AT&T and Ford have taken a step further and created special in-house executive programmes for their managerial pool.
Let these executive education programmes be a faster means of climbing up the corporate ladder for your executives by encouraging them to join one.
SANDHYA.U
faqs@cnkonline.com
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