In the ever-evolving landscape of business education and management, the relevance of pursuing an MBA in 2023 remains a topic of paramount importance. To shed light on this subject, we had the privilege of engaging in an insightful conversation with Dr. Pritee Saxena, a distinguished figure in higher education and business administration. Dr. Saxena currently serves as the Senior Director and Campus Head at ICFAI Business School (IBS – Mumbai), where her visionary leadership has left an indelible mark on the institution’s pursuit of academic excellence.
As the custodian of IBS-Mumbai’s academic journey, Dr. Saxena plays a pivotal role in preparing students for success in the dynamic world of business. Her extensive academic background, marked by excellence, positions her as a mentor and guide for those aspiring to prosperous careers in the field of business and management. Dr. Saxena’s commitment to fostering an environment of innovation, learning, and growth is palpable through the institution’s notable achievements under her stewardship.
In our conversation with Dr. Pritee Saxena, we delved into the evolving landscape of business education and the significance of an MBA in 2023. Her insights and perspectives on the subject offer valuable guidance for those navigating the path towards becoming future business leaders. Let’s explore some of the highlights from our enlightening discussion with Dr. Saxena.
1. You have been part of the academic world for more than 10+ years. Could you share with us your journey in academia to date? Why did you choose the path of academia after a lucrative career in the corporate world?
I’ve spent more than two decades in the field of academia, and my journey here has been quite a unique one. Initially, I dedicated a significant portion of my life to the corporate sector, accumulating 17 years of experience. However, a deep-seated passion for teaching, which had been with me since childhood, always lingered in the background. Even as I pursued higher education and earned my MBA, the demands of the corporate world kept me occupied. Nevertheless, I continually sought opportunities to impart knowledge and train individuals within the organisations I worked for.
As time went on, my personal circumstances began to evolve, especially with the responsibilities of raising a growing child. The nature of my corporate role, which involved extensive travel as part of the marketing team in an FMCG company, prompted me to consider an alternative plan. The allure of academia became stronger as I saw it as a path to a more stable lifestyle that allowed me to stay rooted in one place. Additionally, my enduring love for teaching continued to beckon.
And so, my journey into academia began, initially as a visiting faculty member while maintaining my corporate career. This transition unfolded gradually, and I took the leap to become a full-time faculty member. Over time, my career in academia advanced, and I progressed from a faculty member to dean, ultimately reaching the position of senior director.
I chose the path of academia primarily because it offered the stability I sought, especially as my child was growing. Teaching, a lifelong passion of mine, provided a fulfilling way to remain grounded after years of constant travel in the corporate world.
2. Given the fast-paced business landscape today, which skills do you think are vital for MBA students to succeed in their careers?
I firmly hold the belief that in the corporate world, the criteria for success will consistently revolve around one’s attitude, a genuine willingness to learn, and strong communication skills. However, I’d like to emphasise that, beyond attitude, a person’s overall behaviour plays a pivotal role. It’s essential to excel in interpersonal abilities, adeptly nurturing valuable connections with colleagues, clients, and superiors. Furthermore, in today’s era of rapid industrial evolution, possessing an insatiable appetite for continuous learning is not just beneficial; it’s absolutely essential for thriving.
In the academic environment at IBS, we are deeply convinced that effective communication transcends mere clarity of speech or vocabulary. It encompasses the art of conveying messages with the right tone and style. These communication skills stand as foundational pillars for the success of MBA students in both their academic endeavours and their future careers.
3. Could you provide more insights into how ICFAI is ensuring that these essential skills are effectively imparted to its students?
ICFAI places a strong emphasis on both soft skills and employability skills because they play distinct but interconnected roles. Soft skills get embedded into employability skills. We believe in teaching and nurturing these skills right from the beginning.
In the first semester, we focus on business communication, ensuring that students can effectively convey their ideas. In the second semester, personal effectiveness is a key area, helping students understand their strengths, weaknesses, and the roles that suit them best. This self-awareness is crucial for career planning.
We have a programme called the “Corporate Connect” in the third and fourth semesters, dedicated to soft skills development. This programme includes approximately 40 sessions per semester, providing comprehensive training in essential soft skills. By addressing both soft and employability skills, we aim to equip our students with a well-rounded skill set for success in their careers.
4. As also the placement head at ICFAI – Mumbai campus, could you share your insights on the top three attributes that recruiters typically seek when hiring MBA students?
In my role as the Placement Head at ICFAI – Mumbai, I can attest to the fact that recruiters in today’s job market are actively searching for a specific blend of skills and qualities in MBA students.
A notable trend is the increasing demand for students who not only possess domain expertise but also excel in IT skills. The significance of IT proficiency extends across various sectors, including marketing, HR, finance, and operations. To ensure our students are well-prepared, we’ve seamlessly integrated IT skill development into all our subject areas that focus on specific domains.
Recruiters highly prize individuals with exceptional problem-solving capabilities. They seek out students who approach their professional roles with a mindset geared towards identifying and implementing solutions to complex challenges. In today’s ever-evolving business landscape, problem solvers are regarded as valuable assets.
Furthermore, effective storytelling has emerged as a crucial attribute, particularly in service industries. The ability to present reports and findings to clients in a compelling and lucid manner carries significant weight. Recruiters actively seek MBA students who can convey information effectively through persuasive storytelling.
In summary, the three core attributes that recruiters commonly look for in MBA students today are a blend of IT skills, a problem-solving mindset, and the capacity for solid and compelling communication through storytelling.
5. What measures is ICFAI taking to ensure that its students are well-prepared to become future business leaders with high potential?
Here at ICFAI, we are committed to ensuring that our students are thoroughly prepared to meet the evolving demands of the corporate world, with a particular emphasis on scenario analysis. This skill has become increasingly sought after by companies in their hiring processes, and we are dedicated to equipping our students accordingly.
One of the primary methods through which we nurture this skill is our case-based teaching approach. This approach fosters a research-oriented mindset among our students as they delve into various cases, extract crucial facts, and meticulously analyse complex problems. Our extensive case library encompasses a wide spectrum of scenarios, ranging from cases centred around problem-solving to narrative-based decision-making cases. During the fourth semester, each domain-specific subject exposes our students to approximately eight to ten cases, including smaller caselets crafted by our esteemed faculty to mirror the current business landscape.
Crucially, our educational process extends beyond the mere analysis of cases. We place great importance on facilitating discussions surrounding the implications of these cases and how they influence decision-making and eventual outcomes. Our goal is to train our students to think critically and to consider the far-reaching consequences of their decisions. This preparation equips them to seamlessly transition into corporate roles, including those involving significant decision-making and leadership responsibilities.
6. There is an ongoing debate about whether MBA programmes should shift from being primarily focused on leadership and management to being more skills-based. What are your views on this topic?
At ICFAI, we believe in a multi-dimensional approach to learning, which includes Case Based Learning and Business Modeling/Simulation. This approach is designed to prepare high-potential individuals to thrive in a rapidly evolving world and make a positive impact as future leaders.
Management education goes beyond just learning concepts; it encompasses knowing, doing, and being. While concepts are taught extensively up to the graduation level, it’s equally important to understand how to apply these concepts in real-world situations. This is where management courses come into play.
Through Case Based Learning, we provide students with a rich array of real-life scenarios to analyse. These cases challenge them to not only understand the concepts but also to apply them practically. They learn how to take what they’ve learned in theory and use it to solve complex problems and make informed decisions.
Our Business Modeling and Simulation approach helps students simulate real business scenarios. This hands-on experience allows them to understand the dynamics of business operations, strategy development, and decision-making in a risk-free environment. It’s like a training ground for tomorrow’s leaders.
By combining these approaches, ICFAI ensures that our students are not only well-versed in management concepts but also equipped with the practical skills needed to excel in their careers. This comprehensive approach sets them apart and prepares them to navigate the ever-changing business landscape with confidence and competence.
7. What according to you, are two secret advantages of ICFAI that most students are unaware of but should be?
There are two secret advantages of ICFAI that many students might not be aware of but should definitely know about.
Our founder, the late Shri Mr. N. J. Yasaswy, had a remarkable vision and philosophy. He believed in providing quality education at an affordable price, especially to talented youth in remote areas who aspire for higher education but face limitations like distance and affordability. This vision led to the creation of ICFAI and its various programmes, including the MBA. The legacy of providing quality education at an accessible cost is something that sets us apart and drives all of us at ICFAI.
ICFAI places a strong emphasis on practical and hands-on learning, not just theoretical knowledge. Our approach includes Case-Based Learning and Business Modeling/Simulation, which equip students with practical skills, problem-solving abilities, and decision-making acumen. This approach prepares our students to excel in real-world scenarios and distinguishes them in the competitive job market.
8. What, in your opinion, are the top five factors that students should consider when choosing a business school for their MBA studies?
When selecting the right business school for your MBA, remember these five key factors:
- Consider the qualifications and expertise of the faculty. Experienced and knowledgeable professors can significantly impact your education.
- Examine the school’s placement record, focusing on the types of companies that hire graduates and the average salary packages offered.
- Don’t overlook the student-teacher relationship, which is often underestimated but plays a crucial role in your learning journey.
- Go beyond rankings and assess the school’s commitment to providing practical skills and real-world experience.
- Consider the values and vision of the institution to ensure they align with your educational goals and aspirations.
9. In your opinion, what are the key attributes or qualities that make a goo d leader in today’s business world?
In today’s business world, being a good leader involves some key qualities. One of the most crucial attributes is the ability to listen actively. While it may sound simple, it’s a powerful trait. Good leaders pay attention to what others are saying rather than just imposing their own ideas. Listening not only accommodates diverse viewpoints but also shows a deep intent to serve and connect with others.
When you listen, people feel that you’re on their side, and this fosters a sense of trust and closeness. Winning hearts through genuine connection makes it easier to lead effectively. So, in addition to traditional leadership skills, being a good listener can set you apart as a leader in today’s business world.
10. As the campus head at ICFAI Mumbai, what is your vision for the future of young professionals learning the business world under your leadership?
As the campus head at ICFAI Mumbai, my vision for young professionals is clear. I believe there are no shortcuts to success; hard work is essential. It’s crucial for students to have faith in their pursuits and not lose confidence when faced with challenges. In today’s fast-paced world, it’s easy to lose interest quickly and keep switching between different endeavours. However, I encourage students to stay committed to one path, to give it time, and to acquire expertise in a particular field. This dedication and mastery will set them on the path to success in the business world. My vision is to nurture determined, focused, and resilient young professionals who can thrive in the ever-changing business landscape.
To access the full interview, visit our YouTube Channel – Subscribe Now.
ICFAI is accepting applications for MBA batch 2024-26: APPLY NOW
We’d like to thank all of our wonderful readers for your incredible support and enthusiasm for this interview. We’re thrilled to have you as a member of our PG community, and more interesting content is on the way. Return to our platform for more great articles, and don’t forget to check out what we’ve recently published. Have fun reading!