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Indian B-Schools: Meeting Challenges of Industry 5.0

Book Title: Recent Trends in Business Management and Social Sciences

Editors:  Dr. Jasbir Kaur and Dr. Devyani Ingale

ISBN:  978-81-970457-8-3

Chapter: 7

DOI: https://doi.org/10.59646/rtbmssC7/134

Author:  Dr. Priyanka Kulkarni, Associate Professor, Lotus Business School, Pune, Maharashtra, India.

Abstract:

This article examines the role of business schools in India in preparing students for the challenges and opportunities of Industry 5.0. With the advent of cutting-edge technologies such as artificial intelligence, blockchain, and the Internet of Things, businesses are undergoing unprecedented transformations. To remain relevant and competitive, business schools must revamp their curricula and pedagogical approaches to equip students with the necessary skills and knowledge. The article highlights three distinct yet interrelated ways in which business schools in India are responding to the demands of Industry 5.0. Firstly, they are embracing innovative learning formats such as online and hybrid courses, gamification, and simulation-based learning to impart futuristic skills to students. Secondly, they are fostering a global perspective through international immersion programs, student exchange programs, and international conferences, which enable students to appreciate cultural differences and grasp the implications of globalization on business practices. Finally, they are sharing best practices and research findings with industry associates, government bodies, and international universities to advance knowledge creation and dissemination, influencing industry practice and policy decisions. Examples of pioneering initiatives undertaken by top Indian business schools, such as IIM Bangalore, SP Jain Institute of Management and Research, and XLRI Jamshedpur, are discussed in detail.

References

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