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IBS Hyderabad has rolled out MBA and PGPM courses across nine campuses to adapt to the evolving tech landscape with a new four-year B.Com program.
New Delhi: The ICFAI Business School (IBS), is counted among the India's premier private B-schools, provides MBA and PGPM courses across nine campuses.
The IBS is actively adapting to the rapidly evolving technological landscape by introducing management programs aligned with these changes. In the current academic year, IBS introduced a four-year B.Com program. KS Venugopal Rao, the director of IBS Hyderabad, has shared insights into future initiatives, rankings, teaching methodologies, and internship opportunities.
Discussing the journey and future plans of ICFAI Business School (IBS) Faculty, the Director highlighted that since its establishment in 1995, IBS has been a trailblazer, significantly contributing to the growth of business management education in India.
Founded on the principles of providing affordable and high-quality education to deserving students, the institution has evolved to offer a diverse range of programs, including BBA, Executive MBA, and Doctoral Programs/ PhD.
ISB Director Shares Future Aims and Plans
The Director revealed that IBS aims to align its courses with the rapidly changing technological landscape. The institution plans to foster collaborations with industry partners for student training and establish alliances with reputable educational institutions in India and abroad.
Furthermore, the IBS faculty members will be encouraged to engage in contemporary, relevant, and applied research.
Speaking about the popularity of certain campuses, the director highlighted that all campuses maintain consistent curricula, pedagogy, and qualified faculty. This uniformity allows students to select a campus based on their preferences, convenience, and individual factors.
While some campuses may have greater enrollment due to their advantageous locations, these variations are not viewed as high or low demand but rather as reflections of student preferences and convenience, he added.
Teaching Methodology at IBS Campuses
When inquired about the teaching methodology at IBS, he clarified that students at IBS undergo instruction through a "learning-by-doing" approach. IBS places greater emphasis on experiential learning among various innovative pedagogies. Examples of this hands-on learning include externships, exhibition visits, participation in hackathons, business simulations, internships, group activities, and role plays.
This approach allows the students to develop a profound understanding of the subject, effectively bridging the gap between theory and practice. The learning is reinforced through objective debriefs by faculty members. Additionally, structured assessments ensure that outcomes are evaluated for most activities, with feedback shared directly with students, the director added.
Discussing the unique nature of IBS' internship program, the director revealed that IBS values the transformative impact of a strong internship experience, providing students with insights into organizational operations, people dynamics, processes, and teamwork. What sets IBS apart is the unique approach to internships, where students receive joint mentorship from a dedicated faculty member and a guide from the hosting company.
He further added that the comprehensive evaluation system is in place to monitor student performance, with feedback communicated to both the student and the company mentor at the commencement of the internship.
The final assessment is a collaborative effort conducted at the respective internship organisation. The feedback from the company mentor is highly regarded and is communicated to all students, the director said.
Speaking if the teachers of one campus also teach at other campuses or there are foreign faculties, the director highlighted that each of the IBS campuses has well-qualified full time faculty. The need for assigning faculty to different campuses usually does not arise. However, as a practice, faculty across the campuses work together and participate in knowledge-sharing workshops, curricula revision exercises, panel discussions, and faculty development programs. We also encourage joint and collaborative research. These ensure broad exchange of ideas and best practices within the ICFAI ecosystem.
When asked about the cross-campus involvement of teachers or the presence of foreign faculty, the director pointed out that each IBS campus boasts a team of highly qualified full-time faculty, typically eliminating the need to assign faculty across different campuses.
However, as a practice, faculty members collaborate across campuses, engaging in knowledge-sharing workshops, revising curricula, participating in panel discussions, and attending faculty development programs. Joint and collaborative research is also encouraged, fostering a wide exchange of ideas and best practices within the ICFAI ecosystem, the Director said.
Furthermore, IBS has extended invitations to faculty from esteemed foreign universities to visit and contribute by teaching a course or module in the MBA and doctoral programs, he said.
ISB Director on ISB NIRF Ranking 2023
Addressing the shift in IBS' position on the NIRF Rankings from 32 to 40, the director explained that the NIRF ranking system undergoes continuous evolution. Changes in rankings are commonplace over the years due to the intense competition among the top 50 institutions, where the differences in ranks are minimal.
Moreover, the entry of new institutions and universities, both government and autonomous, has further contributed to this dynamic landscape.
He added that at IBS, the ranking is considered seriously, and a comprehensive analysis is conducted. A detailed examination is carried out on a parameter and sub-parameter level to identify strengths and areas with potential for improvement. Faculty committees, guided by the director, assess these areas and make concerted efforts to implement suggested improvements.
In the discussion about whether MBA aspirants typically favor IIMs over private universities and how IBS attracts students from various regions globally, the director expressed that IIMs are inherent preferences for management course seekers in India. Out of the 2.5 lakh students who appeared for the national entrance exam CAT in 2022, only approximately 7,000 students likely secured admission in IIMs, and many of these are relatively new institutions.
He highlighted that there is a significant gap beyond the IIMs, which numerous prominent institutions in the country address. IBS refrains from drawing direct comparisons with the IIMs and positions itself in a distinct league, offering a unique approach to Management Education.
Many aspirants, including those undertaking the CAT exam, perceive IBS as a natural alternative due to the comprehensive value it provides to students and its commendable placement track record.
The commitment of the faculty, innovative pedagogy, and unwavering focus on students consistently attract aspiring individuals to its management programs year after year.
Discussing the launch of a four-year BCom program at IBS Hyderabad this year, he provided details on the admission process and the response received. Admission to the four-year BCom and BBA programs at IBS involves a systematic screening and rigorous interview process. Candidates are required to have a minimum of 50% marks in their plus-two program. Check: BCom Admissions
The BBA, initially a three-year program since 2010, transitioned into a four-year format from August 2023, aligning with the National Education Policy. The BCom program was introduced in 2023. Both programs consistently attract a substantial response from students, as evident from the ongoing admissions.
In conveying his message to the students of ICFAI Business School, the Director highlighted that the programs at ICFAI Business School revolve around its mission — empowering students with the appropriate knowledge, skills, and attitudes. IBS Hyderabad consistently updates its industry-focused curricula to ensure that students acquire the most recent knowledge in their chosen domains.
He added that students undergo training in the necessary skills demanded by the industry, guided by highly qualified faculty members, utilizing state-of-the-art IT labs and the latest technological tools. Through a combination of curricular and extracurricular activities, along with interventions like Syndicated Learning Programmes, students cultivate the right attitudes, preparing them for dynamic and challenging careers.
He concluded by saying that enrolling at IBS is essential for a holistic experience beyond textbooks and academic pursuits. Upon completing the two-year program, the institute equips students to be lifelong learners and excel in corporate positions or entrepreneurial ventures. Undoubtedly, IBS also ensures that students receive genuine value in terms of knowledge and skills.
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