Majyd Aziz
I was on the Board of
seventeen universities and educational institutes in my capacity as President of
Karachi Chamber of Commerce and Industry in 2006-2007. During my tenure, I
ensured my presence at Board meetings and Annual Convocations. I was also
Member of Karachi University Academic Council as nominee of two erstwhile Sindh
Governors. I was also the Corporate Representative nominated by Higher
Education Commission on the National Business Education Accreditation Council. I am still
on the Board of a prestigious University since 2005. I am pleased that
Pakistan’s universities are striving to turn out graduates in many relevant
fields including business related. Institutes, such as LUMS in Lahore and IBA
in Karachi, provide quality
education at par with the international standards and prepare MBAs who are
industry-ready and the most sought after business graduates.
Universities all over Pakistan offer business degrees
and claim that they have top-notch faculty. Some of these institutes have a
hefty fees package but then also offer substantial scholarships or fee
subsidies. Before start of a new session, these institutes fill up newspapers
with advertisements to attract candidates for admission into various
disciplines. Their advertisements and their orientation sessions guarantee prospective students of a life
that promises a good job along with a security for their future. The top rated institutes go for high
scholastic achievers whereas those institutes who are lower in ratings or
prestige provide an enabling environment for students with lesser grades. All
in all, inspite of the competition and inspite of logistical approachability or
output worth, students do manage to get into some institute to pursue their
desired degree.
The
question that arises is the value of the BBA or MBA degree. Notwithstanding the
significance that a degree from a the highly rated institutes commands, the essential
premise is whether these institutes are churning out skilled and competent
business graduates or are the degrees mere degrees and not of any worthwhile
consequence? Are the graduates armed with practical skills and aware of ground
realities in the corporate world or are they full of theory and idealism? Are
the universities more concerned with the number of graduates emerging out of
their portals or are their graduates ready to conquer the corporate domain?
There
are diverse views and opinions among industrialists as well as businessmen.
Although transnational corporations and financial institutions have a different
outlook regarding the hiring as well as the future employability of the fresh
graduates, there is a another side to the story when it comes to the thinking
process of local businessmen and industrialists. In the modern corporate world,
emphasis is also placed on employee training, either on-job or opportunities to
attend seminars, conferences, and external networking. Conversely, many
graduates, especially those unable to attract the eye of the talent scout or
the head hunter, resign themselves to acceptance of a position in organizations
that are controlled by families or that still follow the old but established
mode of doing business. This then is the dilemma faced by fresh university
leavers.
What
is fundamentally missing is the non recognition by policymakers and planners of
a conceptual guideline in developing future managers or entrepreneurs among the
graduating group. The ever-increasing
number of business graduates has placed the youth into a delicate but
disadvantageous situation in seeking career-oriented positions. A degree enables
entry into the business world but the value of the degree is directly linked to
the performance as well as the capability and acumen of the holder of that
degree. This, then, is the paradox that needs to be addressed by the institutes
as well as the Higher Education Commission. Graduates are supposed to be
well-endowed with theory, with skills, and with motivation, not only to work in
the domestic environment but also to become an attractive source for employers
based in other countries. This acceptability is the crucial litmus test that is
paramount and reflects the worthiness of the institute and the graduate.
In
conversations with members of the corporate world as well as academia, there
are some common or agreeable factors regarding the business universities and
the graduates. One disturbing element is that the HEC ranking of institutes
should not be totally relied as the criteria as there are many subtle points
that preclude any such reliance. These rankings are at times arbitrary, and for
some institutes who consider themselves having a superior faculty, coaching model,
better in-house facilities and scholastic environment, these rankings are
discriminatory. Whatever is the truth, the fact is that Pakistan needs proficient
managers and not hopeless drones with a degree.
A
well known academic heavyweight lamented the proliferation of so many
universities, especially in urban areas, and advocated discouraging the setting
up of more business schools and instead diverting energies and resources
towards establishing technologically-focused universities that have disciplines
such as coal technology, mining, oil and gas exploration, climate control,
alternate sources of power, agriculture, nuclear, etc. There is also the
imperative need to inculcate technical knowhow right from secondary schools
rather than wait for someone to graduate from school and then deciding on a future
scholastic direction.
It
is also essential that an academia-corporate nexus be formalized so that the
practical skills of the student are honed in the proper and need-based manner.
There is no prescribed system of mentoring except perhaps the ritual internship
that is propped up as gaining first-hand experience in trade and industry. A
short stint may expose the student to real business life but it does not enable
the student to imbibe the true essence of the complexities and the multifaceted
contours of the business world. A case
in point is the much-touted Prime Minister’s Youth Business Loan Scheme. While
appreciating the motive and urgency behind this populist measure, the fact is
that many of the potential entrepreneurs may fall short of their objectives
because of lack of a mentoring mechanism. Their exuberance and their idealism
can only make the venture profitable if there is a strong foundation and there
is a strict monitoring system in place. The theoretical knowledge gained in
classes is vital but it may not be the only recipe of success.
Pakistan’s business graduates should be much sought after by
multinationals here as well as abroad if they can substantiate their grasp of
the subjects and can effectively demonstrate managerial abilities. The
curriculum should be industry oriented after a serious need assessment by
established managers and enlightened employers. This would place Pakistani MBA
graduates into an enviable position by being readily accepted not only by local
business entities but also by companies across the globe. Pakistan’s corporate
regime is in dire need of a modernistic paradigm shift in developing its human
capital. The odds are more favorable if the business and industrial community
comes forward to provide the navigation that the youth require to steer the
boat in the uncharted waters. High standards in business schools, dedicated
mentoring by trade and industry, and determination by the youth combine to
provide Pakistan with world class managers, as well as entrepreneurs. In the
words of the American business tycoon John D. Rockefeller, “If you want to
succeed you should strike out on new paths rather than travel the worn paths of
accepted success.”
