Changing Scenario in Management Education:

Changing economic conditions and intensification of global competition have

given management education an increasingly central role in the success of
individuals and corporations. With economic reforms in the country and
globalization phenomenon everywhere, Management Education is at the “cross
roads”, with an imperative to change its role from being ornamental to imparting
the competitive edge. Global competition is changing the relationship between
management education and business.

Management education has become a fad in a virtually connected universe.

Management institutions have mushroomed in India, but quality remains elusive.
Instead of preparing students to face the challenges of life, institutions prepare
them more for their examination and try to develop their skills for two reasons :
to make them employable and to get employment.

Component of Online Education System:

Stakeholder:

External:

• Government Officials
• Education policy committees

• Federal

• State

• City

• Grant commissions
• External agencies

• UNESCO

• Fulbright Association etc.

• Businesses

• CMS software developers

• Venture financiers

Internal:
• Administration

• Librarians

• Technical personnel

• Instructors

• Student

External Stakeholders
External stakeholders, like the government businesses and outside agencies, set
policies, provide directions, grants/funds and incentives, and generally provide
motivation for new ventures. Government needs to set clear policies about data
transfer across boundaries. Government’s role is much more important in third-
world countries where these officials often need to make policies about opening
the economy, encouraging external investment, and in general providing
guidance to interested parties. In many third-world countries, government is the
key source of funding for education.
Internal stakeholder

Instructors
Instructors may be motivated to use e-learning in their courses for a variety of
reasons. For example, they may be encouraged or pressured by their institutions;
they may wish to reach a broader audience of students; or they may have an
interest in the benefits of technology mediated learning.

Technical personnel
The main concern for content providers in e-learning tends to be intellectual
capital rights. Independent content providers need to ensure their retention of
copy rights in order to sell their product to multiple customers.
Infrastructure:

The infrastructural requirements for online education in the colleges will not only
make the difference but helps in making students to work together, lot of
stimulation and inspiration with which they can work and can connect themselves
with the rest of the world. Many management institutes in India do not have a
sufficient land and building to run the course. They are held in small rooms or in
one floor where no basic facilities are provided but they are recognized.

Students should be made comfortable by providing good facilities like

accommodation, residential facilities, recreation, entertainment, refreshments
etc. A well furnished campus with world class facilities to develop educational
entrepreneurship – though a difficult task but inevitable to attract the students.
The transition of education from the traditional face-to-face classroom
environment to an online or hybrid environment is continuing to increase each
year. University systems around the nation realize the future survival and
expansion of their educational programs will depend largely on their ability to
provide online education.

Administrative support is the vital foundation to a sound online education

program. Administrative support includes assistance in the form of funding,
guidance, oversight, and assistance in removing the obstacles that hinder a
healthy and well-supported online education program.

A healthy support structure begins with university administration promoting a

synergistic environment conducive to innovation and results in the enthusiastic
buy-in from faculty. Other elements that affect online education programs include
existing infrastructures designed for the traditional campus-only student. These
include student recruiting, admissions, academic counseling, registration,
financial aid, and other student services.
A good online program does not develop by accident. It can only develop through
careful and purposeful processes that include courseware design, technology
selection, updating obsolete policies, promotion and acceptance of a paradigm
shift, consideration of faculty workload, faculty and staff skills development, and
removal of institutional barriers to the development of synergistic teamwork and
interdisciplinary cooperation.
Competitiveness:

There is very tough competition among the MOOCs and various online education
providers. Massive Open Online Courses (MOOCs) represent the final stage of
current technological innovations in distance education, as these offer open
educational resources to students all around the world. MOOCs are designed to
be scalable to large online masses with free participation and without any formal
requirements, and provide millions of individuals, around the world, the
opportunity to learn through hundreds of public and private universities or
organizations worldwide.

MOOC or Massive Open Online Courses are online educational courses that can
be accessed by the unlimited number of students. These are provided by private
companies, non-profit organizations, government institutions and universities
across the world. Use of learning analytics for the identification of student
progress/failure is expected to gain importance over the forecast period.

The MOOC market is moderately competitive and consists of a few major players.
In terms of market share, some of the major players currently dominate the
market. However, with the growth in the innovative educational platform, new
players are increasing their market presence thereby expanding their business
footprint across the emerging economies.
Organization:

Online teaching reduces the marginal cost of teaching and raises the fixed cost for
the organizations. The cost of teaching an additional student online falls because
much of the grading, monitoring and so forth is automated and there are no costs
of coordinating all students in the same place at the same time. As a result, online
classes scale from 100 to 100,000 students or more. The marginal cost of teaching
the same course a second time online also falls. The costs of teaching an in-class
course also fall the second time around, but not usually as much. Thus, online
education has economies of scale in both the number of students at a point in
time dimension and the number of students over time.

The marginal cost of teaching the same course a second time online also falls. The
costs of teaching an in-class course also fall the second time around, but not
usually as much. Thus, online education has economies of scale in both the
number of students at a point in time dimension and the number of students over
time.
Society:

Distance learning has been around for a long time, even before technology made
it extremely accessible. Traditional schooling is now seeing an increased
proliferation of virtual training materials and online courses. Even in a world of
tried and tested schooling systems and curricula, the most successful schools are
the ones who adapt to the changing times, as well as to the expectations of
students, parents and the society.

Society which includes parents, teachers, students and various other authorities
are relying more on online education as it is easy to access education online in
backward class areas and it makes easier for students and teachers to interact
with each other. It makes it easier for student to get feedback on their queries.

Learning activities in all levels of education are increasingly based on blended or

distance learning settings, instead of working in a classroom or laboratory.
Moreover, students do not merely read text or follow video clips from the web,
discuss the learning content with their peers in a discussion forum or prepare
documents alone or jointly with peers. They are increasingly working interactively
with tools that can provide them with some form of feedback on their actions.