It is surprising that there are no Big top notch ABC Business schools in any of the ASIAN TIGERS including Japan in the last 50 years. Yet every top business school in the west is worried and has taught and trained many of the best MBA's who tried with out success to remove Asian tigers from ever expanding marketing segments of the west.
When Suzuki opened in collaboration with Maruti in India its MD who came from Japan was given a tour of the facility. Finally he was shown a 100 X 100 large room with attached bar and a fine bedroom attached with centralized AC. The bewildered MD asked whose room is this. Obedient Indian bureaucrats and the managers answered it is your room. Horrified Japanese MD fumed "how can you guys think that I can sit in this room"? To the amused Indians the Japanese MD went to the factory floor and took a cabin next to the factory manager and said it is the MD's room.
MBA in India
India's main avocation is agriculture. It feeds 65% of the labor. Yet no where in India there is an MBA agriculture management or marketing or HR. Management education must be indigenously based on the local economic conditions. Other wise we produce totally disconnected young minds trained in many western ideas which may not be totally applicable in native vernacular context. Most of the text books in "Management Education" are written in the west or are a copied verbatim by Indian authors. It is not to say that there are no native scholars but they are declining at fast rate.
One such book on strategic management taught in US schools explicitly has two chapters dedicated to Strategic Business Objectives of British in Indian partition giving an impression to all who study that the independence is given to us and partition made only to enhance business objectives but not as a result of the sacrifices made by great leaders.
That is why even top notch schools in India were not able to give any credible solution for either rising inflation, rising prices or rising poor populations. Most of us are happy for lakhs of rupees packages in MNC's which are fined for defrauding many third world countries in their own native countries.
Just like the demand for the IT is waning, we are since last 5 years seeing a waning interest in MBA's which is clear trend in falling recruitment in many B schools. Many engineering students who used to regularly join MBA as stop gap arrangement are rethinking. It is time now to reform and revive
management education based on the needs and requirements of the balanced developmental context of India. Other wise we will be clueless when our trade business will shake with western markets rise and fall.