Being a manager is innate to each one of us. Although each one of us manages different things and manages differently from others, not all of us undergo formal training in management. The skills of management are best acquired through experience when it comes to managing interpersonal relations, managing resources or managing activities which are away from the realm of business organizations.

On the other hand, the skill to manage business organizations is best acquired through the knowledge of the established rules of the game and experience of the practitioners. Formal education in management is increasingly becoming significant in the ever evolving business environment that throws up new surprises every new day. Aspiring managers can gain immensely from formal education as it lays the foundational understanding of business practices that have been time tested and can come to the aid of the practicing manager in all situations. In addition, the formal learning of managerial skills includes a covert practical exposure through situational analysis and case study analysis involving actual business experiences. These days, the course curriculum followed by most of the progressive B-schools includes industry or field exposure for at-least six weeks. Industry projects of short-duration, commonly known as ‘live projects’ are gaining popularity and are increasingly supplementing classroom learning.

The importance of keeping abreast with the ongoing changes in the different components of the business environment cannot be overemphasized. Reading newspapers or viewing news as a daily routine can help overcome information gaps. Frequent discussions on contemporary issues that are directly or indirectly related to the business organizations are usually conducted in most management institutes and often incorporated in the mainstream course curriculum as well. General awareness tends to sharpen the acquired managerial skills and enhances the degree of preparedness for the uncertainties in the real business environment.

Ms. Deepti Kakar

Associate Professor

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