Management education cannot be compared with studying other subject areas like Physical Sciences Mathematics or law etc. Management education can rather be compared with medicine. No doctor is allowed near a patient purely on the basis of theoretical knowledge. Doctors learn the professional skills by acquiring the practical knowledge that is taught by practicing doctors and hence they become experts in diagnosing the real physical condition of patients. In the similar way, in a business scenario also you have to do things, take decisions, take actions, and monitor results. You cannot operate any business by just planning what to do on paper. Planning is, though an important step in the process, there are many examples of businesses with excellent plans having failed because of non implementation of proper ideas.

Management education enhances the managerial skills by sharing of ideas, the acceptance of others’ ideas and many of healthy discussions. Learning from other approaches is not always a natural and single study process. It has to come with active participation in a group of people and it happens in the Management Courses. Faculty and other students challenge statements, attack and defend ideas. The assimilation of other approaches forms an important part of the learning process.

Students coming from different spheres of life, bring with them all the advantages, disadvantages, fairness and prejudice of centuries of cultural heritage. These characteristics manifest themselves sometimes, in totally different approaches towards solving business problems and learning fundamentals of management. From all of these approaches there is something to learn. A multi cultured institute enhances the benefits gained from the participatory learning approach.

IIMTS : The Realistic Management Approach