IIM review committees to submit report to centre in June

IIM review committees to submit report to centre in June

The three groups aim to address issues of governance, faculty and funding.
The three groups formed by the Ministry of Human Resource Development (MHRD) to look into critical issues that hamper quality growth at the Indian Institutes of Management (IIMs) have suggested concrete ways to increase the number of PHDs, attract good faculty and increase funding. They are expected to submit their reports to MHRD in June.
Last month, Union HRD Minister Kapil Sibal had decided to form three groups in a bid to transform IIMs into global leaders in management education. These groups are looking at issues of governance, faculty and funding.
While the task force on governance is headed by Maruti Suzuki India Chairman R C Bhargava, Ajit Balakrishnan, founder, chairman and CEO, Rediff.com, is heading the task force on faculty. The third group on funding of IIMs is headed by Hari Bhartia, co-chairman and managing director, Jubilant Organosys and president of Confederation of Indian Industries.
“We have suggested ways on how to increase the number of PhDs; step up quality and quantity of research and attract faculty in areas of marketing and finance where there’s a dearth of faculty. We will submit the report to MHRD by mid-June,” Ajit Balakrishnan told Business Standard.
IIMs, on their part, say they are ready with their future road maps to meet long-term goals. These reports were to be submitted to the HRD ministry by end of May this year. “We are ready with our road map and, after its discussion in June, we will submit it to MHRD. The road map lays down what we wish to do to be global thought leaders in management, research, innovative academic programmes, writing popular books etc. We are trying to figure out how to deal with the issue of faculty shortage,” says Samir Barua, director, IIM-Ahmedabad (IIM-A).
At present, IIM-A has around 95 faculty members and needs a minimum 25 more. IIM-Bangalore and IIM-Kozhikode have submitted their 10-year vision plans to the HRD ministry.
“We have submitted a report detailing our 10-year plan. Our strategies revolve around the idea of how we can increase the global relevance of IIMs,” says Debashis Chatterjee, director of IIM Kozhikode. The institute wants to carve a global identity, for which it is looking at creating a pool of leaders who can be seen on an international stage. The institute has already taken steps like creating an endowment fund in the name of late management guru C K Prahalad.
Chatterjee said the institute was looking at the online platform to deliver management education to international students in South and West Asia. Started in 1997 with a batch of 42 students for its post-graduate programme (PGP), the institute’s intake has seen an increase of five times in seven years. While it builds its faculty strength from here on, the institute is looking at ramping up its executive education offerings. “Revenues from executive education will grow three to four times in the next three years,” he said.
To cater to its infrastructural needs, IIM-K is expanding its existing campus by acquiring 15 acres of land. The land acquired will be utilised for water harvesting and constructing other facilities like a gymnasium. The institute has invested Rs 20 crore in this land, which has been sourced from a combination of its corpus fund, grants and profits.
It is also mulling establishment of a satellite campus in Kochi. “We don’t have anymore land to build. We might look at an off-site campus for additional sections,” said Chatterjee. The institute has around 600 students on its campus at present, which may increase to 760 students in the next five years.
Sibal had last month said IIMs were dealing with some roadblocks in governance and efficient functioning. “We will look into issues of empowering directors, board of directors, appointment of chairpersons, accountability, role of the board and relationship between faculty and board,” added Sibal.

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