Should you go to b-school only for stellar placements? Are your 2 years at b-school the investment you make just to get a good job? And does your education really teach about the real world? Because let’s face it, you might be from a premium b-school, but there are somethings you learn in b-school which you might never apply in your work life. So why does b-school teach you things that you may not use in your day to day work life? And what’s the importance of all those theoretical academic concepts? Prof. Sumit Sarkar, Professor of Economics at XLRI Jamshedpur, an expert in Game Theory, talks about the importance of academics and just why they matter. If you wish to know what makes all that theory relevant, check out this video.
Summary of the video:
In this video, Prof. Sarkar talks about the importance of academics at b-school. He shares how getting shortlisted for and accepted into a premier b-school is a signal to recruiters that you belong to the cream of the crop. But, he shares, your work does not end there. He shares how a student needs to apply himself and learn the concepts taught at b-school so that he/ she can also perform well during interviews as expected. He talks about knowing concepts in the work environment. He shares how, even when you may not be a decision maker, knowing the basics behind the decision will always help you perform your tasks well.
Finally, he talks about teaching a subject that is highly technical, like game theory, and keeping students interested and engaged during lectures. He gives an interesting example of football, and how the game uses game theory to predict the moves of players. If you want to know what makes b-school relevant, and important, check out this video.
Key Takeaways:
1. Business education is a signalling game. A student, by gaining admission in a top b-school, is signalling to the market that he or she is highly capable.
2. Your capability is not clear if you just get into a b-school. You must also get good grades and study well in order to get placed.
3. Grades are important so that you don’t have to drop out.
4. Grades are important so that good companies shortlist you for placement.
5. You may not be able to use concepts taught at b-school during your job immediately.
6. You may not be making strategic decisions; but you need to understand why the decision was made in the first place, in order to work effectively.