Prof. Arya Kumar is Director, Lal Bahadur Shastri Institute of Management (LBSIM), New Delhi. He has a diversified experience of more than 36 years of serving in educational institutions, research organizations, banks and financial institutions. He is certified entrepreneurship educator having successfully completed “Entrepreneurship Educators Course (EEC)” jointly organised by STVP, Stanford University, IIM Bangalore and National Entrepreneurship Network (NEN) . He is Member, Faculty Advisory Board of NEN.
1. What is the meaning of “Entrepreneurship” to an Indian MBA candidate who seeks “placements” as a return-on-investment?
Entrepreneurship to an Indian MBA aspirant who seeks “placements” as a return-on-investment basically means developing skill sets that equip the student with confidence and courage to come out with innovative solutions to corporate challenges. He sees opportunities where others see chaos or confusion. He is the aggressive catalyst for change within the organization. He challenges the unknown and creates the future. It is this aspect that leads to building “Entrepreneurial Mindset” in them which gives them an edge in fetching lucrative jobs resulting in high return on investment.An MBA aspirant hence seeks an institution that equips the student with unique and different learning experience.This also prepares them to take up entrepreneurship as a career option.
2. What are the challenges of ethical behavior in today’s challenging corporate world driven by top line growth?
Professionals are looking for quick gains, implying short- term growth even at the cost of long-term adverse implications and achievements.It is this aspect that results in unethical practices and compromises on the part of corporate executives. It is becoming more and more challenging for the corporate executives to deliver results because of the hyper-change i.e. fast pace with which business environment is changing. Corporate executives as well as organisations are realizing that the long lasting success of individuals as also of organisation largely depends upon their preparedness in advance by way of competencies and capabilities coupled with deep rooted values.
Therefore,the Western approach towards management that emphasizes on providing a focus on efficiency, dynamism and striving for excellence needs to be aligned with India’s holistic attitude of “lokasangraha”- for the welfare of many, for the good of many.
The hallmark of management education at LBSIM is the distinct emphasis on Indian values emanating from our epics, Vedantic and Yogic psychology as well as Pauranic literature.
3.What are the new initiatives you have undertaken to develop talent at LBSIM?
Educational experience at LBSIM equips students with competencies that are a combination of knowledge, skills, behaviors, and attitudes that contribute to personal effectiveness. LBSIM keeps experimenting and innovating in the field of imparting management education that inculcates in students courage to face the unknown, commitment and persistence to achieve goals, virtues/values for pursuing excellence and an attitude of “Can Do” spirit.
In the above backdrop, new initiatives taken at LBSIM are innovations in teaching pedagogy, curriculum development, introduction of courses that are more relevant to needs of industry, strong industry linkages and providing opportunities to students to learn outside the class.
The institute encourages students to organize different activities independently or with the support and guidance of faculty such as – management conventions, business plan competitions, talks by leading professionals, cultural events, sports activities for their holistic development. These add the much needed value by inculcating in them – organizing capabilities, team building, decision making, leadership and managing finances.
4. What are your pointers to someone who has to choose between new IIMs and an existing Tier-1 (non-IIM) business school?
- Innovation in management education
- Educational experience that prepares for facing the unknown.
- Building “Entrepreneurial Mindset.”
- Intellectual capital of the institute.
- Learning resources – soft-wares for research, case depository, rich library resources,computer lab, digital lab etc.
- Strong industrial linkages
- Alumni achievements and their involvement with Alma Mater
- Above all “Return on Investment”
5. What would you like to say to someone who wants to apply to LBSIM?
LBSIM symbolizes the management education that inculcates conceptual,technical, human and design skills coupled with deep rooted values. This result in developing a “can-do” entrepreneurial spirit, to face and boldly respond to the challenges and unknown situations of the business environment.
LBSIM has been continuously making efforts in building an environment of promoting creativity, inventiveness and innovation among the students through various programmes.
LBSIM is one of the premier and prominent sought after institution imparting management education that provides distinct experience and exposure to prepare future value based leaders who would contribute their best towards the growth and development of Indian and Global economy.
“The will to win, the desire to succeed, the urge to reach your full potential… these are the keys that will unlock the door to personal excellence.” Confucius
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