In an exclusive interaction with Ritwik Mukherjee of The Statesman, Srikrishna G Kulkarni, chairperson, Board of Governors, Indian Institute of Management Calcutta (IIMC), outlines how the first national institute for post graduate studies and research in management, has evolved and emerged as an international centre of excellence in all facets of management education.

He explains different facets of how this institute, established by the Government of India in November 1961 in collaboration with Alfred P Sloan School of Management (MIT), the Government of West Bengal, the Ford Foundation and Indian industry, is actively evolving to meet new challenges and realities of the business world by focusing on key areas like entrepreneurship, innovation, and interdisciplinary learning.

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Q: The unprecedented volatility in the world of business caused by some recent geopolitical events – from the Covid-19 pandemic to the Russia Ukraine war and the tensions in West Asia – has prompted large companies to take a relook at business and operational strategies. Did it have a ripple effect on the way management professionals are normally trained by the B-schools?

A: The answer is yes. In response, the Indian Institute of Management, Calcutta is now incorporating more adaptive learning models, emphasizing crisis management, global supply chain resilience, and agility in leadership, to better prepare our students to be future leaders who are comfortable in complex, unpredictable environments. The institute has introduced a range of courses that foster entrepreneurial thinking, including design thinking that will equip our students to respond to complex and unpredictable environments. We are also promoting interdisciplinary programmes that combine management theory, technology, social sciences, law and digital innovation, with an aim to equip our students to better respond to multifaceted problems. With a strong emphasis on digital enablement, IIM Calcutta ensures that its graduates are well-prepared to meet the changing demands of potential employers in a fast-evolving global landscape.

Q: Could you throw some light on the executive management programme IIM Calcutta has launched in Dubai, with a different pedagogy focused on the fragile Middle East?

A: IIM Calcutta has launched a specialized Executive Management Programme in Dubai, tailored to address the unique challenges of the fragile Middle East region. This programme offers a distinct pedagogy focused on real-world case studies, particularly in global business, supply chain management, and the complexities of geopolitical tensions. By incorporating international participants, the course fosters a diverse learning environment, offering valuable insights into global business dynamics. key feature of this programme is its unique face-toface interaction model, which encourages direct engagement with industry leaders and peers, helping participants develop practical solutions to the region’s specific business challenges.

Q: In the wake of the ongoing job crisis and at a time when different corporate entities are cutting down on their hiring plans, how is IIM Calcutta maintaining its placement rates?

A: IIM Calcutta has remained robust, thus effecting placement percentages marginally. One key reason is the increasing interest among students in joining start-ups and entrepreneurial ventures, diversifying their career paths. Consulting and finance-related jobs continue to traditionally dominate the placement landscape, providing opportunities that use core management competencies. IIM Calcutta is also adapting by training students based on evolving business requirements, ensuring they are equipped with the skills and knowledge needed to stay ahead of the game and meet market demands effectively.

Q: Experts say that the way business schools teach sometimes does not match what jobs need. They are of the view that these B-schools should change their lessons every two to three years. What is your take on this?

A: We agree with the experts that premier institutes need to be more flexible when choosing their teaching and pedagogy so that the pedagogy can better align with the curriculum that addresses the evolving job market. This is essential in today’s fast changing environment. At IIM Calcutta, there is a structured process in place to regularly revise the course curriculum, ensuring it meets both current and future market needs. The institute’s various centers actively engage in consulting and developing industry relations, keeping the curriculum relevant. Additionally, industry experts and professors of practice bring critical practical perspectives and up-to-date domain knowledge not just into our classroom, but also help in our regular process of curriculum review. IIM Calcutta’s Case Research Center further compliments learning goals by developing case studies that reflect real-life business problems and helps our students experience firsthand how for a given set of conditions, there can be multiple perspectives and more than one approach and more than one solution, thus making the learning experience as close to real life situations and hence more impactful.

Q: IIM Calcutta and TalentSprint, a hybrid digital learning platform, have unveiled a new programme: AI for Leaders. Please throw some light on this.

A: Advanced Programme in AI for Leaders (APAL) – The “AI for Leaders” programme is tailored for senior professionals across diverse industries and verticals. It equips participants with essential skills, core concepts, and cutting-edge tools, including generative AI. These are vital as they equip our students (business leaders) to grasp the intricacies in the evolving AI-driven landscape and take timely decisions that are collaborative and sustainable. Each module is designed to foster cross-functional collaboration within organizations, empowering leaders to harness AI’s potential effectively. This programme is specifically designed for senior management professionals seeking to enhance their understanding of AI without the need for a technical background… This programme offers a comprehensive understanding of AI’s transformative power, providing participants with a holistic perspective crucial for effective leadership. It provides comprehensive insights into practical applications and enterprise-level AI platforms, preparing participants to understand the capabilities of technologies such as Google Cloud’s Vertex AI, AWS Bedrock, and Microsoft Azure AI Studio, among others. This knowledge empowers leaders to effectively spearhead AI initiatives within their organizations, enabling them to navigate and implement AI solutions with confidence and ease.

Q: How is IIM Calcutta contributing in strengthening and promoting the Indian entrepreneurial ecosystem?

A: The institute boasts of reputed multidisciplinary faculty and houses centres of excellence focused on several domains, including entrepreneurship and innovation. The Centre for Entrepreneurship and Innovation (CEI) is dedicated to the creation, collation, and dissemination of knowledge on entrepreneurship and innovation. Through its IIM Create series, CEI connects academia with industry knowledge research and celebrates the entrepreneurial journeys of IIMC alumni. IIM Calcutta Innovation Park (IIMCIP) is a not-for-profit (Section 8) company established under the aegis of IIM Calcutta. It is a thriving ecosystem that nurtures start ups, empowering them to transform ideas into impactful businesses. IIMCIP actively fosters innovation, incubates socially impactful entrepreneurial ventures, and enables livelihood creation. It has supported 1,000+ startups since its inception, with startup presence in 22 states, and works with 100+ mentors across the country for entrepreneurial development. IIMCIP has a rich experience of working with multiple state governments (West Bengal, Assam, Meghalaya, Bihar, Arunachal Pradesh) as a knowledge partner for implementation of their entrepreneurship development policies. Entrepreneurship Cell (E-Cell) is a dynamic student-run body, that spearheads the propagation of entrepren – eurship within and beyond the campus confines. Genesis, its annual Entrepreneurship Summit, boasts of having 25K+ attendees so far. The E-Cell facilitates workshops, competitions, and insightful panel discussions with students attending from across the globe. IIM Calcutta recently hosted a national entrepreneurship conclave, “India 2047: Building the Future with Entrepreneurship”. As India marches towards its centennial year in 2047, the role of entrepreneurship in driving economic growth and societal transformation has never been more critical and this conclave reflected IIMC’s motivation to contribute towards the same. This prestigious event brought together visionaries, innovators, leaders, and alumni from various sectors to discuss and explore the future of entrepreneurship in India and beyond. The Lalit Mohanka & Madan Mohanka Centre for Excellence in Entrepreneurship & Innovation was established with the generous contribution of Madan Mohanka, Executive Chairman of Kolkata-based Tega Industries, with the vision of “Making India the global leader in entrepreneurship and innovation through education, technology, research and thought leadership to ensure sustainable economic growth and job creation.”

To achieve the mission of creating large scale socio-economic impact leveraging technology and innovation, IIM Calcutta (IIM Calcutta Innovation Park) will actively seek strategic partnerships with premier technology institutions from India and abroad. IIMCIP has already joined hands with IIT Madras Incubation Cell, which is one of the best technology innovation centers in the country. This collaboration represents a confluence of intellectual prowess and innovation excellence and is poised to create a powerful synergy leveraging the business acumen of IIMCIP and technological expertise of IIT Madras Incubation Cell. Padma Shri awardee Prof. Ashok Jhunjhunwala, (Institute professor – IIT Madras), a luminary in the realm of technology and innovation and a visionary leader, has agreed to preside as the Chairman of the Board of the IIMCIP Technology and Innovation Council (IIMC-TIC). Prof Jhunjhunwala has had an illustrious career marked by profound contributions that have left an indelible mark on India’s technology innovation landscape. Under his guidance, IIMC-TIC is poised to launch numerous groundbreaking initiatives that will revolutionize the ecosystem of innovation and entrepreneurship, with a particular focus on impacting the East and North East India socio-economic landscape.

(With inputs from Prof Saibal Chattopadhyay, Director in-charge; Prof Bhaskar Chakrabarti, Dean-Academic; Prof Rajesh Babu, Dean_Exec Ed; Prof Peeyush Mehta, Dean-Faculty & Research; Prof Sumanta Basu, Dean-Development & Exte r – nal Relations, and Prof Nisigandha Bhuyan, Chai – rperson, Management Center for Human Values.)