Refashioning the Business Education Through Global Alliances- K J Somaiya Institute of Management Studies and Research

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There is no debate over the role and characteristics of a global manager. They should have the ability to strategically think and take up important decisions, should have exemplary leadership skills and creativity, should have the ability to work within teams, while growing as individuals, and apply global benchmarks for resolving local governance issues. On the other hand, to find an education provider who can raise aspiring managers to the global level is exasperating as most of the times, what the institution tells you is not what you get. However, that is not the case with K J Somaiya Institute of Management Studies and Research.

 

Under the aegis of Somaiya Vidyavihar, a leading educational trust in India, K J Somaiya Institute of Management Studies and Research, SIMSR, has a strong foundation that stands on the vision of its founder, Padma bhushan Shri Samir Somaiya, the President of Somaiya Vidyavihar. The vision is “ज्ञानादेवतुकैवल्यम्।Knowledge alone liberates. Education liberates from poverty, from hunger. Also liberates one from the attachments that bind us to small-mindedness. Knowledge also provides opportunity. To make the life lived more meaningful. In the service of one’s family, one’s community, one’s समाज, country, and indeed the world. Bearing in mind that there is no religion other than the life lived in the service of humanity, नमानुषात्परोधर्म:।we will strive to provide access and opportunity to build a more inclusive society.”

Curriculum Updation and Revision

Inaugurated in 1981 by Dr. Manmohan Singh, former Prime Minister of India, SIMSR is nestled within a 50-acre lush green campus in the heart of Mumbai. Currently, the institution offers 7 areas of specializations: Marketing & International Business, Finance & Law, Economics, Human Resource Management, Operations, Information Technology, and General Management (Entrepreneurship, Business Communication and Strategy). SIMSR has, over the years, developed sector-specific MBA programs apart from the MBA Core such as 2-year MBA program in International Business, Retail Management, Financial Services, Integrated Marketing Communications, Healthcare Management, and 15 months Executive MBA Program. All the area of specialization and the various sector-specific MBA programs have their Board of Studies that comprises of illustrious academicians, Industry professionals, and alumni. The meetings for these Board of Studies are held twice in a year and their inputs not only help in strengthening the course curriculum and adding/deleting courses, but also help to keep the program contents contemporary and in tune with the requirements of the ever changing industry trends.

Just as SIMSR keeps the curriculum updated, the faculty team at SIMSR too follows a teaching plan that is based on learning outcomes. The pedagogy followed is a blend of classroom lectures, case studies, projects based on experiential learning, guest lectures, and workshops. SIMSR subscribes to the latest pedagogical tools like the Harvard case bank, the Bloomberg lab, conducting business simulation games etc. The students thus learn through the faculty and their peers along with industry inputs. The students also undertake a Master’s Thesis in their 2nd year of study to encourage a mindset of independent inquiry and learning under the mentorship of a faculty. All these efforts ensure personalized attention to the students while molding them as capable managers.  Similarly, to help the students be industry ready, SIMSR also teaches foreign languages like Spanish and Mandarin. This further enhances their perspective of global cultures and thereby increases employment opportunities. “The proof of such rigorous and continuous updation of our program contents is in the form of our outstanding placement records for all our programs. The interim placement highlights for A.Y. 2018–19 reveals that the average salary of top 100 offers was Rs. 13.05 Lacs per annum with the highest salary being Rs. 27.50 Lacs so far as on date. The average salary has been Rs. 9.95 Lacs per annum for 90% of the students whose job placements have been finalized,” says Prof. (Dr.) Monica Khanna, Director.

 

Research Activities and Global Alliances

Giving due importance to research, SIMSR has taken up various initiatives such as Centre for Diversity and Inclusion, Centre for Consumer and Market Studies in Emerging Economies, Centre for Economic Policy and Research, Centre for Sustainability Management, and Centre for Capital Markets Research. Every area of specialization at the institute conducts its research based conference annually and various round table discussions. SIMSR also cherishes strategic alliances with institutions abroad such as Aston University and The University of Edinburgh—UK, The University of Akron and University of San Diego—USA, Yunnan University, Sany Polytechnic Engineering College, Beijing International Studies University, Communication University of China, Beijing Foreign Studies University—China, Wintec—New Zealand, University of Indonesia—Indonesia, University of Salvador—Argentina, Eotvos Lornard University—Hungary, and University of Brescia—Italy.

 

SIMSR has built its reputation over the years and has 10,000+ alumni and 400+ corporate who have been visiting the institute regularly. With an alumni base of over 10000 alumni spread across the globe, SIMSR constantly endeavors to connect and collaborate with its alumni base. With many of SIMSR alumni becoming industry leaders, the institute takes pride in them and celebrates their successes which help to facilitate the recruitment process. SIMSR prepares the students for the placement process by organizing special mock interviews and GDPI sessions. Students are also encouraged to take part in various case studies competitions which helps them to apply their classroom knowledge and build their confidence. “Some of the places where the students have won awards were NITIE-Mumbai, JBIMS-Mumbai, YES Bank, IIM Nagpur, MDI Gurgaon, IIT Bombay, Adi Finshiksha Education Pvt Ltd, IIM Kozhikode, Economic Times, Aditya Birla Group, Toastmasters International District District 98, Pepsico, GreatLakes – Gurgaon, Hero Motocorp, IIM Raipur, IIM Shillong. These were Case Study competitions and other Management events. All these efforts go into making our students ready for the recruitment processes,” adds the proud Director.

 

SIMSR’s Blueprint for the Future

SIMSR ensures that it not only proffer academic knowledge to its students, but also nurtures their intellectual, emotional, spiritual, social, and physical persona so as to help them evolve as well-rounded human beings. The active participation of all the stakeholders in the governance process ensures that the institute not only follows the trend but also sets a benchmark for management education in the country. “Our vision is crystal clear. We are the next big name in management education. All our efforts are now vested in making K J Somaiya Institute of Management Studies and Research one of the top management institutes in India offering the best in class management education, preparing students for a global career while ensuring that they are well-grounded in the Indian culture, reality, and ethos,” concludes Prof. (Dr.) Monica Khanna.

 

Meet the Director

Prof. (Dr.) Monica Khanna is the Director and Marketing Professor at SIMSR. She has an overall experience of 25 years in Industry and Academia and her specializations include Brand Management, Marketing Research, and Services Marketing. She has also worked in the areas of Engineering & Industrial Automation. Dr. Khanna has won awards for case study competitions held by the Aditya V Birla India Centre at the London Business School, awards for excellence in teaching by Bombay Management Association, Higher Education Forum, Somaiya Vidyavihar, and recently Y K Bhushan Award for 100 Most Dedicated Teachers of India. She is also an elected member of the Managing Council of All India Management Association (AIMA), New Delhi for AY 2015–17 and AY 2017–19.