Prof. (Dr.) Monica Khanna

Director & Marketing Professor

K J Somaiya Institute of Management Studies & Research
Mumbai

Q. KJ Somaiya Institute of Management Studies & Research has carved out a niche in the field of Management Education. In the last 37 years of the institute’s meaningful existence, how do you think the trends in Management Education have changed?

A. There is a symbiotic relationship between business management and the world of management education. The business environment has undergone a huge shift because of advances in technology, internet, social media, globalisation, changes in political ideologies etc. which have led to the world of business becoming very closely integrated on a real time basis. As a result of this, students who undergo management education need to be equipped with tools which will help them to develop strategic thinking in this new and ever changing business environment. As a natural outcome, management education has to evolve in terms of the subjects taught, the pedagogy followed and the width and depth of the coverage of every subject. Subjects like analytics, digital marketing, e-commerce, business policy, corporate law have become the basis for teaching strategy, leadership, creative thinking and consumer behaviour which need different perspective and focuses keeping in mind the local sensibilities and global complexities.

There is also a realization that professional management should not only be applicable for the organised businesses but also for the unorganised sector and underprivileged sections of the society as they could become hotbeds for innovations and startup ideas. In a country like India, which is still almost 70% rural and more than 50% of the economy is unorganised, it is important that the management education should prepare our students with appreciation of the challenges of these sectors.

Summing up, management education should prepare students with a mindset of learning, un-learning and continuous re-learning.

Q. Many are of the view that the MBA degree is not worth the time and expenses it consumes and also that one does not require a MBA degree for a successful career. How would you like to stand up to this perception and accent on the importance of B-schools for a corporate career?

A. I believe that the management education is a professional degree that creates a basis and mindset for strategic thinking irrespective of the area of undergraduate degree. The management principles are applicable across every sector of economy and area of specialization, which is the reason why students from diverse educational backgrounds like science, commerce, arts, architecture, law, medicine, etc. aspire to get an MBA degree. I think the relevance of an MBA would become even sharper considering the number of failures that are there in the business and startup world. New tools of business and new methods of reaching out to consumers and stakeholders makes it very important for an aspirant to get equipped with the right skill set to be successful in their chosen field of business and career.

Today management education not only creates intrapreneurs but also entrepreneurs. A lot of pedagogy in the management school consists of experiential learning and peer to peer learning- which is not possible in any other program. Hence the relevance of MBA would always continue, but the subjects and pedagogy may get redefined with the changing business environment.

Q. How has the campus placements at SIMSR in recent years been? Talking specifically of 2017-18 placements, what are the trend in terms of the recruiting sectors, domains, salary & top recruiters?

A. We have been recording 100% placements over the last 7 years, for a pool of over 400 students. The recruiters visiting our campus during the placement season have been steadily increasing and have stabilized at around 200+ companies. The larger pool size of companies has ensured that we are able to provide job opportunities to every student seeking placements on campus. In AY 2017-18, the Banking & Insurance, Financial Services & the IT sectors have emerged as by far the largest recruiters as can be seen in the Pie chart below for AY 2017-18.

Q. This reminds me of another very commonly raised query by the students pursuing MBA; what are corporate recruiters looking for in a management graduate?

A.

1. Communication (both written and oral) and the ability to articulate ideas and strategy very sharply

2. Subject Knowledge

3. Relevant Experience/Projects

4. Analytical Skills

5. Body Language

6. Enthusiasm

7. Comprehension

8. Candidate-job/personality fit

9. Confidence

10. Leadership skills

Q. There are students who choose to pursue a specialized MBA based on their interests and there are also those who want to get into the domains which are lucrative. What have been the most in-demand specializations and which sector/domain, according to you is doing well in the current times?

A. At SIMSR, which started in the year 1981 and almost 40 years old has grown over the last 4 decades by offering sector specific MBA programs apart from the core MBA program because all domains are getting redefined due to the changes in technology and consumer behaviour. SIMSR offers sector specific MBA programs in the areas of International Business, Retail Management, Integrated Marketing Communications, Financial Services and Healthcare Management apart from the mainstream areas of specialization like marketing, finance, human resources and operations. All these programs and areas of specialization are very popular amongst aspiring candidates and provide equal opportunities for employment. This is proof of the fact that for a fast growing economy like India, there are plethora of opportunities in every sector and domain.

Q. According to you, how important is Corporate Exposure while pursuing MBA for students? How does SIMSR ensure that students get the best exposure to the real business world before they step out in the industry?

A. SIMSR has a very good Industry-Academia interface platform. There are 28 student clubs and committees and they regularly conduct competitions such as Comstrat, Samavesh, Human Equations, Navikaran, MarCquest, etc in association with industry majors. They also publish in-house magazines/newsletters such as Imprints, FinStreet, Marksman, etc, and also have guest lectures and workshops such as BigWigs, Finly, IBS@SIMSR by industry leaders and alumni. Eminent speakers like Dr. Raghuram Rajan, Prof. Udo Wagner, Sanjiv Sarin, Samir Kanabar, HE Bulat Sarsenbayev etc. have visited our institute and addressed the students. Apart from these student led initiatives under the faculty mentorship, organising events like Melange and Metamorph have made the students industry ready for a corporate career, inculcating experiential interaction with the corporates.

Q. Besides, what other social and cultural involvements are students made part of at SIMSR which guides them to develop their personalities better, enhance their soft skills and ultimately become leaders for tomorrow?

A. Apart from taking part in the governance structure of the college, students are also the central decision makers in student activities involving their 28 clubs and committees of the institute. They are also engaged in raising sponsorships for committee events, connecting with the media, participating in Ankur ELI initiative, blood donation camps, Joy of Giving week, etc. All these real life exposures help students gain organisational abilities, team dynamics, develop personality, and enhance the soft skills and become better leaders.

Q. What is your take on Entrepreneurship as a career? Are there any facilities and faculty resources available to students which motivate and encourage students to pursue their entrepreneurial interests?

A. Somaiya trust has an incubator called RIIDL (Research Innovation Incubation Design Lab) on campus. SIMSR teaches entrepreneurship management through well qualified faculty and through Entrepreneurship Cell, a student committee. The institute also promotes Warli Tribal Art and the Hand woven shawls from the Kutch region through Kala Vidya, an endeavour of the Somaiya Trust based out of Kutch as part of corporate gifting items. This also helps in bringing the traditional art and craft of Kutch region into the mainstream while at the same time helping in developing their entrepreneurial orientation. SIMSR creates an entrepreneurial mindset among its students and many of our alumni have gone on to become very successful entrepreneurs who had corporate careers in the beginning. We have also started SIMSR Alumni Network for Entrepreneurs where-in senior alumni entrepreneurs guide budding alumni entrepreneurs.

Q. Prior admissions, there is always curiosity among students on what a regular day at B-Schools would be like. Could you describe a day of a MBA student at SIMSR?

A. I believe no day at SIMSR is the same if you love to spend your time doing something different every day. Apart from academic rigour and committee work, there are a wide variety of activities ranging from sports to yoga sessions to Tai Chi sessions that are facilitated in the campus. The Olympic-sized athletic track, basketball court, football and cricket fields and the indoor sports facilities of badminton and table tennis keeps all the sports enthusiasts busy once you get free from your classes. A state of the art gym is a gem to the eye of all fitness lovers. If you still are not a part of any of the group mentioned above, you can always find a book from the library and sit anywhere in the lush green campus and pamper yourself with some personal time. SIMSR calls its admissions’ brand mascot PoBo as 'the compulsive ideator'.

Q. Lastly, K J Somaiya has been a great name when it comes to contribution in the education sector with its immense presence in multiple fields, besides management. How would you want to add detail to this statement?

A. Somaiya Vidyavihar Trust has been blessed by a great legacy created by a visionary Padma Bhushan Pujya ShriKaramshibhai Jethabhai Somaiya. The entire focus of the education is value based. The institute’s strong foundation stands on the vision of its founder, Padma Bhushan Pujya Shri KJ Somaiya and the collective vision of Somaiya Vidyavihar as enunciated by Shri. Samir Somaiya, the current President of Somaiya Vidyavihar and is quoted as follows:

“Our motto is: Kkuksnso rq dSoy;eA Knowledge alone liberates. Education liberates from poverty, from hunger. Also liberates one from the attachments that bind us to small-mindedness. Knowledge also provides opportunity. To make the life lived more meaningful. In the service of one's family, one's community, one's lekt, country, and indeed the world. Bearing in mind that there is no religion other than the life lived in the service of humanity, u ekuq"kkr~ iSjks /eZ%A - we will strive to provide access and opportunity to build a more inclusive society".

Somaiya Vidyavihar Trust is doing yeoman service in creating an educational platform which will cater to all sections of society under various streams of education. We strive to provide an access and opportunity to uphold a more inclusive society.

We have also created a book on stress management for students and our institute’s logo and brand mascot has also been designed by our students.

With a lush green campus in the heart of Mumbai, it is an institution which is contributing a lot to the local community, to the society and to the country. It is a proud privilege for any student to study in the Somaiya Vidyavihar institutions.