5 things Indian business schools are doing to develop the leaders of tomorrow
Since our education system focuses on building workers who can follow orders, India faces a serious dearth of employees with good leadership skills. Here are 5 ways business schools are developing the leaders of tomorrow.

Are leaders born or made? This is an age-old question that has been often a subject of debate. The opinions will continue to differ, but the reality is that this world needs more business leaders. The leadership gap has emerged as a major concern among both employers and employees.

A global survey highlights developing next-generation leaders was the top challenge in 64% of organizations and on an average, they spend $4000 and 39 hours on leadership development per high-potential leader every year.

Other statistics indicate that 63% of Millennials, which will constitute a major percentage of the global workforce in the next few years, say that their leadership skills are underdeveloped.

Leadership also features among the top three soft skill requirements by employers from the Indian workforce and 80% of Indian companies are likely to face a shortage of leaders.

Why organisations are turning to B-schools for leadership training
While organizations are investing heavily in leadership development of their employees, it has huge cost implications in terms of money and time. Hence, organizations are turning to business schools to help them meet the leadership gap.

Business schools can produce business leaders in large numbers by providing a conducive environment and opportunities at an academic level.

Traditionally, Indian business schools have been student-centric with focus on academic development-oriented curriculum.

In recent years, the industry has often voiced its complaints regarding the outdated curriculum of B-schools and their inability to produce work-ready and future-ready job candidates.
Realizing the dire need to meet the industry expectations, many B-schools have revamped their pedagogy methodologies and curriculum to nurture leaders of tomorrow.

Here are 5 ways Indian business schools are innovating themselves to develop leadership qualities in their students:

1. Experiential learning
Business schools are making conscious efforts to enable their students to apply theory into practice through case studies, company internships, industry projects, mock situations, team exercises and simulation games that are a reflection of real-life situations.

Students are expected to think critically, make decisions, find creative solutions, collaborate and negotiate which are hallmarks of leadership.
This kind of experiential learning pushes them out of their comfort zone, work their way through extraneous variables and learn leadership by doing.

2. Structured programmes on leadership
Many business schools offer structured programmes, courses or subjects on leadership for students.

These are personalized, intensive courses which help students assess their strengths and weaknesses as a leader, understand different leadership styles and provides them with challenges and opportunities to develop their leadership capabilities.

3. Immersion projects/cross-cultural student exchange programmes
Some business schools offer immersion projects or cross-cultural student exchange programmes where students are required to work in another country for a brief duration of the academic year.

This helps students to build a global leadership perspective to business opportunities and risks.
They also understand cultural differences, learn international business practices and get to work with people from diverse backgrounds.

4. Inclusion of entrepreneurship in curriculum
Not every student wants to pursue a corporate career. Many aspire to become an entrepreneur, a career which also calls for leadership qualities.

Some business schools have set up innovation labs, incubators, maker zones or accelerator programmes and also organize 'startup pitch' competitions to encourage their students to think and act like an entrepreneur.

These days, business schools also offer dedicated courses or programmes in entrepreneurial leadership development.

5. Technology-driven pedagogy
Technology and digitization are reshaping leadership. The future leaders will need to possess digital readiness and competence to take the business to newer heights and stand out from the competition.

According to a survey, only 22% of leaders consider themselves effective in digital competencies.
Business schools are bridging this techno-functional leadership gap by offering programmes such as MBA in IT Business Management, MBA in Data Science and Data Analytics and MBA in Executive IT which converge traditional and technology subjects.

The true essence and measure of leadership lie in its effectiveness it has no association with leadership skills being intrinsic or acquired. Business schools are making sure that they are nurturing future leaders in this direction.

Source : https://www.indiatoday.in/education-today/featurephilia/story/do-indian-business-schools-succeed-in-making-leaders-of-tomorrow-1641291-2020-01-29

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