2024 EFMD Indian Symposium at IIM Lucknow charts the path to Global Recognition for Indian Business Schools
LUCKNOW : Indian Institute of Management Lucknow hosted the 2024 European Foundation for Management Development (EFMD) Indian Symposium on 23rd April 2024. Themed “Beyond Borders: Elevating the Visibility of Indian Business Schools through EFMD Global Accreditation,” the symposium convened distinguished leaders and experts from the global management education community to engage in discussions and deliberations on various facets of management education and accreditation.
In her welcome address, Prof. Archana Shukla, Director-in-charge at IIM Lucknow, highlighted the significance of hosting the 2024 EFMD Symposium amidst India’s growing prominence in the global economy. Prof. Shukla underscored the vital contribution of Indian Business Schools in propelling this growth trajectory. She expressed her anticipation for the discussions at the 2024 EFMD Indian Symposium at IIM Lucknow, which will further enhance efforts in fostering a diverse and globally engaged community, creating a significant impact.
The symposium achieved a noteworthy milestone with the establishment of the Indian Business Council.
Mr. Nishit Jain, Special Advisor at EFMD Global Network Asia, emphasized during the event, “Acting as a collaborative think tank, our focus is to work alongside the Government of India to accelerate progress in the field of computation both domestically and internationally. We aim to amplify India’s voice in the global sustainability ecosystem, leveraging our network to foster collaboration and the exchange of ideas. The establishment of the Indian Business Council will prioritize youth involvement through various networks, conferences, and events, emphasizing research excellence and social responsibility.”
The European Foundation for Management Development (EFMD) is an international not-for-profit association and Europe’s largest network association in the field of management development. It oversees the EFMD Quality Improvement System (EQUIS), a leading international system for assessing, improving, and accrediting higher education institutions in management and business administration.
During his address, Prof. Alfons Sauquet, Director of Quality Services & EQUIS at EFMD Global, emphasized the organization’s commitment to fostering an engaged community in advancing management education. He extended his gratitude to IIM Lucknow for hosting the 2024 EFMD Indian Symposium, underscoring the significance of such gatherings in promoting collaboration and idea sharing among like-minded individuals with common goals and aspirations.
In her address, Ms. Barbara Sporn, Director of EFMD Programme Accreditation at EFMD Global, emphasized, “The objective of the 2024 EFMD Indian Symposium is to elevate accreditation quality and facilitate the internationalization of Indian higher education institutions.”
Mr. Eric Cornuel, President of EFMD, commended India’s optimistic outlook towards the future, given its status as the fifth-largest economy with robust growth across various sectors. He underscored the role of management education and research in India’s progress, noting that accreditation is a reflection of the institutions’ dedicated efforts towards excellence. EFMD, with nearly 1,000 members globally, aims to catalyze excellence in management education and development, emphasizing the importance of continuous improvement alongside achieving excellence.
With participation from over 60 senior administrators and faculty members from the top business schools in the country, the 2024 EFMD Indian Symposium served as a pivotal step towards realizing a future where Indian Business Schools garner global recognition and significantly contribute to the advancement of management education and practice worldwide.
The event featured eminent speakers, including:
➢ Prof. Alfons Sauquet, Director, Quality Services & EQUIS, EFMD Global
➢ Prof. Anupama Gupta, Director Accreditations & Internationalization, SPJIMR, Mumbai
➢ Prof. Arun A. Elias, Director & Dean, Rajagiri Business School
➢ Prof. Bala Ramasamy, Professor of Economics, Associate Dean and Director of GEMBA Programme, CEIBS, CN
➢ Prof. Barbara Sporn, Director of EFMD Programme Accreditation and Professor & Director, Institute for Higher Education Management, WU Vienna University of Economics and Business, AT
➢ Mr. Gaurav Srivastava, Regional Director, South Asia, Middle East & Africa, GMAC
➢ Prof. Neerja Pande, Dean, Nodia Campus, IIM Lucknow
➢ Mr. Nishit Jain, Special Advisor, EFMD GN Asia
➢ Prof. Prasad SN., Director SDMIMD, Mysore
➢ Prof. Prashant Salwan, Dean (Programmes), Rankings, Accreditation and Internationalisation, IIM Indore
➢ Prof. Ravi Shekhar Kumar, Associate Professor, Marketing, XLRI
➢ Prof. Sangeeta Shah Bhardwaj, Former Acting Director MDI, Gurgaon
Key highlights of the symposium included:
Announcement of the launch of the Indian Business Council
Mr. Nishit Jain, Special Advisor, EFMD Global Network Asia, announced the establishment of the Indian Business Council, aimed at advancing management education within the community.
Understanding the European Quality Improvement System (EQUIS)
Prof. Alfons Sauquet, Director, Quality Services & EQUIS, EFMD Global, and Prof. Neerja Pande, Dean, Nodia Campus at IIM Lucknow, engaged in a thought-provoking dialogue on the challenges and opportunities associated with pursuing excellence in management education through EQUIS accreditation and fostering diversity.
Exploring EQUIS Accreditation: Addressing Internationalization in India
Insights into the challenges of EQUIS accreditation and strategies for internationalization in India were provided by Prof. Alfons Sauquet, Director, Quality Services & EQUIS, EFMD Global, Ms. Anupama Gupta, Director of Accreditations & International at SPJIMR, Mumbai, and Prof. Prashant Salwan, Dean (Programme), Rankings, Accreditation and Internationalisation, IIM Indore.
Programme Accreditation: Value Proposition & Roadmap
Prof. Barbara Sporn, Director of EFMD Programme Accreditation, discussed the value proposition of programme accreditation, while Prof. Bala Ramasamy, Professor at CEIBS, China, shared insights on inclusion, diversity, and corporate engagement. Prof. Arun A. Elias, Director & Dean at Rajagiri Business School, India, offered actionable insights into initiating the accreditation process and shared best practices.
Diversity in Management Education: A Global Perspective
Mr. Gaurav Srivastava, Regional Director at GMAC, presented market diversity data, followed by discussions on sustainability, ethics, and responsibility in management education led by Prof. Ravi Shekhar from XLRI and Prof. Alfons Sauquet, Director, Quality Services & EQUIS, EFMD Global.
Measuring the Impact of Business Schools: Case Studies and Insights
The symposium also featured case studies and insights on measuring the impact of business schools, presented by Mr. Nishit Jain, Special Advisor, EFMD Global Network Asia, and Mr. N. Prasad, Director at SDMIMD, Mysore.
The symposium concluded with an interactive Q&A session.
Attended by senior faculty members from business schools across the country, the symposium provided valuable insights into best practices and firsthand testimonials from leading Indian schools actively engaged within the EFMD community. Additionally, it proved beneficial for key senior administrators of management schools involved in institutional quality building, such as Chief Accreditation Officers, Heads of International Affairs, and Directors of strategy, impact, and operations.
The 2024 EFMD Indian Symposium laid a strong foundation for fostering collaboration, innovation, and excellence in management education. As Indian institutions continue to strive for accreditation and internationalization, the symposium’s outcomes will undoubtedly catalyse positive transformations, positioning Indian Business Schools as leading contributors to the global management education landscape.