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Time for business schools to scale up
MAMUN RASHID
Thanks to our entrepreneurs, a few dynamic policy planners, mostly docile and hard-working workers, Bangladesh’s private sector has expanded rapidly and became a crucial driver of economic growth. However, to make the best of the opportunities, entrepreneurs consistently emphasise the need for skilled financial analysts, HR managers, marketing managers and production supervisors.
However, the public education system seems to be struggling to meet the growing demand for skilled professionals in the private sector. Consequently, private universities are emerging to fill this gap, focusing heavily on business education.
The growing demand for BBA and MBA degrees has prompted both public and private universities to expand their business education offerings despite initial parental preferences for engineering and medical careers.
While the private sector’s involvement in higher education was initially welcomed, the reality often falls short of expectations.
A critical issue is the low ratio of core staff to students, especially in business schools within private universities. My experience shows this imbalance burdens the core team, leaving little time for strategic thinking and organisational development.
A persistent shortage of qualified teachers exacerbates the problem. Many instructors need more practical corporate experience, resulting in an overly theoretical curriculum that fails to connect with real-world business challenges.
Visiting faculty, including top executives, are regularly invited to teach. However, without a genuine passion for education, these professionals may lack the commitment to contribute meaningfully to the university’s mission. To address this, universities should provide good teaching assistants to support these busy executives, allowing them to focus on delivering modern, relevant content.
The financial sustainability of business schools often hinges on student enrolment numbers, leading some universities to prioritise quantity over quality.
Quality education will ultimately prevail and is crucial for the private sector’s sustained growth. Alums can play a vital role by organising grants and donations to help bridge financial gaps.
I know, teaching MBA and EMBA students, those with professional expertise excel academically. An MBA is most valuable for professionals with prior work experience as it allows them to apply academic concepts to real-life scenarios. It shouldn’t be merely a credential but a rigorous program designed to develop strong work ethics and business acumen necessary to survive in a globalised world.
To improve the quality of education, business schools should establish an administrative cadre to alleviate the workload of academic leaders, enabling them to focus on strategic initiatives. A transparent feedback system for evaluating teachers should be implemented, with results shared and discussed with the faculty to foster continuous improvement.
Retaining top-rated faculty is crucial, and universities must strive to create an environment that encourages their continued involvement. Alumni associations should actively support their alma mater, contributing to its development and reputation.
Universities must invest in essential infrastructure, including well-stocked libraries, modern computer centres and advanced research facilities. Institutions should attract distinguished international faculty and researchers to study Bangladesh’s corporate landscape and global business issues, incorporating modern methodologies and global best practices to remain competitive.
These infrastructural investments are vital for student success and institutional prestige. High-quality business schools are essential for supporting the economic growth that Bangladesh aspires to achieve. With better private universities, these institutions can drive the private sector’s development and significantly contribute to nation-building by harmonizing academic administration, teaching and research.
The author is an economic analyst