In our latest instalment of the #DeanInterviews series, we had a candid conversation with Prof. Arvind Sahay, Director at MDI Gurgaon, who assumed his role in October 2023. Prof. Sahay brings a wealth of academic expertise in Marketing and International Business, having been part of the faculty at the Indian Institute of Management Ahmedabad since 2004 and London Business School in 1996, following his PhD at the University of Texas at Austin.
In this insightful conversation, Prof. Sahay discusses his professional journey, offering keen insights on effective leadership, and shares his forward-thinking outlook on the future of business education. He also outlines a strategic approach to driving innovation and maintaining excellence within academic institutions.
Choosing Academia: A Journey Fueled by Family & Curiosity
I joined the PhD programme at the University of Texas in 1992, and I think part of the reason for that is because I come from a family of educators. If you had asked me at 21 whether I would become an educator, I probably would have said, “I’m not sure, maybe, maybe not.” But over time, that’s where I naturally gravitated. Before that, I worked in banking during the late ’80s and early ’90s, but the intellectual stimulation there was lacking. I was talking to my brother, who was in the US at the time, and he suggested that I come to the USA and maybe pursue a PhD. I thought, “Why not?” I’ve always been interested in academics, research, and teaching, and coming from a family of teachers, it felt like a natural step.
After completing my PhD, I had two main options as a business PhD: consulting or academia. Back then, starting a business as a PhD wasn’t really a common path, though today, many more PhDs go the startup route. I chose academia and started my career as an assistant professor at London Business School. I taught there for eight years before moving to IIM Ahmedabad in 2004. After 19 years at IIM Ahmedabad, I joined MDI Gurgaon in 2023.
My research and teaching have always focused on behavioural psychology, particularly its applications in pricing, branding, and behaviour change. Over the last decade, I’ve also delved into neuroscience. Behavioural psychology is all about what’s happening in your brain, and with advances in neuroscience, we’ve learned so much about how the brain functions. For example, when I see something I want, a part of my brain called the nucleus accumbens becomes active, and we can actually see this in real time. This allows me to predict consumer behaviour—like when someone is likely to make a purchase or do business with a particular individual.
This has been the focus of my research, teaching, and consulting over the past 10 years, although I continue these activities at a reduced scale now that I serve as the institution’s director. That’s been my journey over the last 30 years.
Evolving Leadership in Academia: Influences and Experiences
Let me first share some experiences from my journey, illustrating what different leaders have done in front of me that have shaped my thinking. I’ll focus on leadership in academia, though there is leadership outside of that realm as well.
When I joined the PhD programme at UT Austin, we had a session with Dr. Hans Mark, the Vice Chancellor of the University of Texas System, as part of our orientation. After his talk, during the Q&A, one student asked why so many foreign students were enrolling in the programme. The student wondered if there weren’t enough Americans interested in doing a PhD. Dr. Mark’s response stuck with me: he was glad to have so many foreign students and hoped more than 50% would stay in the U.S. after finishing their PhDs. He also shared that he himself had arrived as an immigrant from Europe in 1946. This response left a lasting impression on me—it showed leadership with a clear vision. Dr. Mark was unafraid to address important issues publicly, and it reinforced the importance of encouraging skilled immigration, something that wasn’t as controversial in 1992 as it is now.
Next, when I joined London Business School, I had the privilege of working with Tom Robertson and Paddy Barwise. Paddy, the Chair of the Marketing area, pulled me aside one day to talk about teaching. As a new teacher, I had the tendency to want to share everything I knew, thinking more content would lead to better learning. But Paddy advised me that “less is more.” He emphasised that fewer concepts, delivered well, would lead to more impactful learning. It took me a few years to truly absorb this lesson, but it reshaped the way I approached teaching. It also highlighted another aspect of leadership in academia: mentorship. Paddy mentored me through that process and showed me how to implement the “less is more” approach by inviting me to sit in on his classes. Mentorship has been an invaluable part of my journey.
Then, when I moved to IIM Ahmedabad, I had another important leadership experience. After returning from London Business School, I faced a pay cut, and the first couple of years were challenging. I went to the then-director, Bakul Dholakia, and showed him my pay slip, asking if something could be done. Within three days, he had arranged a connection with Lupin, which led to a seven-year programme training over 300 managers. That initiative helped me develop my expertise in teaching executives, and within a few years, money was no longer a concern. It showed me that leadership isn’t just about mentorship but also about providing real support when needed.
Later, Ashish Nanda, another director at IIM Ahmedabad, appointed me as the Dean of Alumni Relations. At the time, the institution needed a structured process to engage alumni in giving back. With Ashish’s support, I set up systems and processes, and during my three years as Dean, I helped raise more than 130 crores for IIM Ahmedabad. Ashish, who had come from Harvard, also sent me there to learn from their alumni relations team. It was a valuable learning experience, and once I implemented what I learned, the alumni network became a strong pillar of support for the institution.
In the process, as I started researching neuroscience, more people reached out to me, curious about its applications in academia and business. This led to public speaking opportunities, such as at the Economic Times Masterclass with Philip Kotler, and at events like the IMA CEO Forum and HRD events in Kerala. I’ve spoken at companies like Procter & Gamble and Titan. These opportunities have expanded over time, and now, as Director of MDI Gurgaon, I continue these engagements. They help raise the profile of the institution, as I interact with industry, government, and academia, not just on an administrative level but also in academic research and consulting.
Essential Skills for Leaders in a Globalised, Digital World
I believe in a few essential leadership skills that are required today, especially in our global, digitalised world.
- The ability to connect the dots:
As a leader, it’s important to see the bigger picture. For example, I might be sitting in Gurgaon, but I must understand that China blockading Taiwan is significant for international trade. This event could affect exchange rates, impacting my job opportunities in the coming year. Connecting such seemingly unrelated events and understanding their implications is a crucial skill for leaders today. - Technical competence:
Leaders, especially in top companies, often have a core skill they’ve developed over the years. Whether it’s in technology, pharma, or FMCG, these skills form the foundation of their leadership. For example, people like Jensen Huang, CEO of NVIDIA, and Sundar Pichai, CEO of Google, possess strong technical skills that they’ve honed over time. This isn’t limited to the corporate world—it’s also applicable to government leaders. Having expertise in a particular area and keeping up with it over time is vital for a successful leadership journey. - Behavioral competencies:
I would argue that behavioural skills are the most important, even above technical competencies. If you don’t have the patience to listen or react too quickly instead of responding thoughtfully, your leadership will suffer. Emotional resilience is key—how you handle failure and manage relationships over time plays a huge role in your effectiveness as a leader. In today’s world, where relationships often feel more transactional, nurturing long-term connections becomes even more critical. Emotional stability and building strong family and friend networks are crucial for mental health, especially for younger individuals who may face isolation or psychological challenges.
At MDI, we aim to focus our curriculum on these three core skills. We emphasise hard skills like presentation skills, data visualisation, technical knowledge, such as Python or programming, and HR competencies like employment law and performance management systems. We also offer courses to improve leadership and behavioural competencies, allowing individuals to assess and develop their skills.
Additionally, we’re working on projects that combine hard and soft skills. For example, earlier this year, we started a Center for Artificial Intelligence and its applications in business. One of the projects we’re involved with, for the Competition Commission of India, explores how AI could impact competition and the necessary legal frameworks. We’ve also initiated a Center for Behavioral Science and a neuro lab to study the brain’s responses to different stimuli. One exciting project involved a PhD student exploring whether an AI-generated handbag design would be received differently than a human-designed one. We used brain imaging to see what influenced people’s preferences, which merges the hard skills and behavioural competencies we’re focusing on.
These projects reflect how we’re working to strengthen the three key leadership skills: connecting the dots, building hard skills, and developing behavioural competencies.
Leveraging MDI Gurgaon’s 50+ Year Legacy to Shape Future Business Leaders
The careers that will be available in the future will primarily rely on three key elements: hard skills, behavioural competencies (which are non-negotiable), and the ability to connect the dots, combining critical thinking, analysis, and synthesis. At MDI, we are focused on ensuring that we provide our students with a balanced mix of all three.
What sets us apart as an institution is our strategic physical location. We are situated in the heart of Gurgaon, a hub for businesses. Within a 10-15 km radius, you’ll find the headquarters or major setups of nearly every leading company. This proximity gives our students unique access to industry leaders and opportunities that few other business schools can offer.
We combine this geographic advantage with our strong faculty, who excel not only in the classroom but also in building meaningful relationships with students. Our faculty members provide hard skills and, to a certain extent, pastoral care to guide students through their personal and professional growth. This approach adds significant value to the experience of our students, preparing them for the challenges of the future.
I’ve seen this impact firsthand, particularly with our alumni. For instance, one of our former students, who is now working in the admissions field, approached us to help improve our admissions process. This was made possible because of the strong bonds they had built with the faculty, and for them, it’s a way of giving back to the institution that helped shape their career.
Ultimately, for business degree aspirants, MDI offers a platform that will help you hit the ground running with institutions of your choice. However, it’s also important to note that, like any educational experience, your success will depend on the effort you put in. An institution or a teacher can guide you, but it’s up to you to make the most of the opportunity. If you’re willing to work hard and approach the journey with the right attitude, MDI will help you achieve your aspirations.
Understanding the Ideal Profile for MDI Gurgaon: Key Qualities and Personality Traits
The full admission criteria are already available on our website, so I can’t add anything beyond that. However, if I were to share my personal perspective as a teacher, the one quality I would most look for in a candidate is a willingness to learn. Whether someone is joining an institution or starting a new job, approaching it with the mindset of “I already know it all” makes things difficult for everyone. So, a genuine eagerness to learn would be something I would highly value.
Advice for Students Preparing for the Selection Process: Tips and Checklist for Success
I believe students are much smarter than I am when it comes to preparing a checklist for this process, and they would probably be able to give you a more detailed and accurate answer. From our perspective, we look for a combination of hard skills, soft skills, and the ability to connect the dots. Some of this is assessed through the CAT exam, while other aspects come from the group discussion and personal interviews. We also gather insights from other parts of the admissions process. But, as I mentioned earlier, if I were to provide a checklist, it would likely be incomplete or inaccurate. I think students would probably have a much better checklist for themselves than I could offer.
Maximising the MBA Journey: Key Approaches for a Successful Experience
I think there are two or three things that individuals should be very mindful of.
First, when you come to a top-ranked institution like MDI Gurgaon, there’s a plethora of things you can get involved in. It’s important to have a clear sense of your priorities and allocate your time wisely. There’s a tendency to want to do it all, especially with so many opportunities available, like attending talks by prominent corporate speakers, participating in workshops, engaging in inter-college sports, and exploring exchange programmes. While it’s tempting to dive into everything, it’s simply not possible. Prioritising your goals and managing your time effectively will allow you to make the most of your experience here.
Second, education is a product that gives value only in proportion to the effort you put into it. Some students may come in thinking that simply paying the fees guarantees success. But education doesn’t work like that. The effort and commitment you invest will determine the value you extract from the programme.
Lastly, I believe most students, not just ours but those at top institutions like IIM Ahmedabad or MDI Gurgaon, are already quite sorted and make good choices. Our role is to help them make the best choices—not just the good ones. We also guide them in understanding that sometimes, the good option is not the enemy of the best.
What is an MBA?
Let me start by saying that an MBA is a product that’s been around for over 100 years. And as we look ahead, this product needs to evolve—and it is evolving. When the MBA programme first began, it focused on teaching the basics: debit and credit, distribution, the bullwhip effect in supply chains, the four Ps of marketing, and so on. At that time, an MBA was meant to prepare you for a managerial job in business.
Over time, though, the managerial role itself has evolved into multiple categories. There are now many different types of managerial jobs. Consulting, for example, continues to be a major recruiter from top schools like MDI Gurgaon. But when you look at the skill sets required for these roles, you’ll see that they have begun to diverge.
In the past, in the ’70s, ’80s, and ’90s, the skills required across different industries were relatively similar. Today, the skill sets needed to join a top consulting firm differ significantly from those required for a general management role at a large conglomerate like the Tatas or for a position at a manufacturing company like Hero MotoCorp or JSW. This means that the MBA itself needs to evolve as well.
We can’t continue with a one-size-fits-all MBA. So, how should it evolve? The answers are still unfolding, but one clear trend is the growing need for specialisation. We will likely see more focused areas of expertise within the general MBA. Some students already come with specific skill sets, which will likely increase in the future.
So, what is an MBA? I believe it prepares you for life. If you truly invest your time and effort in it, an MBA will equip you for life better than almost any other degree.
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