K. Ganesh, Partner, Growthstory.in and serial entrepreneur
Promoter: BigBasket, Bluestone, Portea Medical, HomeLane, Freshmenu, HungerBox and more
Alma mater: IIMC
Management education from a premier institution such as an IIM has several advantages. An appreciation of multiple functions and disciplines in a short span of two years is very useful for starting a company. Learning on my own would have been tougher, and prone to trial and error. Besides this, an MBA from IIM also gave me a good network of fellow alumni. For instance, I started Customer Asset-FirstSource with Ajay Row, who was one year junior to me.
However, for me, one of the biggest benefits of doing an MBA from an IIM was meeting my wife Meena (Meena Ganesh is co-founder, MD and CEO, Portea Medical). Meena and I were classmates in the 1985 batch at IIMC. Both of us were awarded distinguished alumni awards. We both also served on the board of governors of IIMC. I am currently teaching a course on new age business models at IIMB as an adjunct professor.
At IIMC, I studied various case studies about the challenges companies have faced, life cycle of products and companies as they go through their growth phase, maturity phase and decline phase. It exposed me to be better prepared for ups and downs in business. In the first business, the fact that we could always go back and try for a job if the venture failed (through deferred placement option) was a comforting safety net.
In today’s world, entrepreneurial opportunities are almost limitless. It is as if the world is conspiring to make an entrepreneur out of you. The funding environment, support system of mentors and advisors, the accelerators and incubators, the societal attitude towards entrepreneurship, the technology disruption and digital transformation that have leveled the playing field, the ability to start and create new business models—all these not just make entrepreneurship attractive, but makes one look stupid if one does not give it a serious shot.
Many management institutes are unfortunately still relying on traditional theory and concepts, while the business environment has substantially changed. There is a major variance between what is taught in management schools and what is needed by the industry, be it a corporate or a startup. What is needed is a complete overhaul. Change the entire curriculum by introducing 50 per cent of the subjects and courses taught from new age business models and concepts. Keep the current curriculum to 50 per cent.
There is a need to introduce compulsory internships like residency in medical education—at least six months of work in a corporation or a startup before granting an MBA degree. There is also a need to have a lot more case studies and actual live projects for students in the course. There are some changes being done by premier institutions, but they are minor tweaks. What is needed is a complete overhaul through bold moves. We need fresh thinking, not tinkering.
—As told to Abhinav Singh