The Hindu Business Line : ICFAI to extend management internship period

AS opposed to the traditional practice of eight weeks of summer internship projects (SIP) and management research projects (MRP) for post-graduate management students, the Institute of Chartered Financial Analysts of India (ICFAI) Business School (IBS) has decided to go in for extended SIPs and MRPs of 16 weeks.

"IBS strongly believes that eight weeks is too little a time for the students to understand the changing paradigms of the business. Both SIP and MRP at our School are industry and faculty guided," the IBS projects co-ordinator, Dr Niranjan Swain, told newspersons here .

According to Dr Swain, management education required the students to thoroughly appreciate the nuances in which things happen in practice. In the absence of hands on experience, students find it difficult to appreciate the management concepts, tools and techniques taught in the classroom.

As against the Western practice of compulsory hands on experience for enrolling students in a management course, most of the students in our country being enrolled into management courses are fresh graduates without any work experience.

"SIPs and MRPs were an effort to bridge this gap. During SIPs and MRPs, students not only take up live projects in the industry in the area of their interest but also learn about the systems, processes, culture and value system, typical ways in which an organisation or industry works," Dr Swain said.

Terming SIPs and MRPs as win-win propositions for all the stakeholders, Dr Swain said students get exposed to real business situation. Both faculty members and students get an opportunity to apply tools, techniques, models and concepts taught in the class in a real life business situation.

These programmes play a vital role in preparing a student to face the challenges of corporate world when he joins the industry.

On the one-day industry-academia meet organised by IBS here on Friday, Dr Niranjan Swain said it was an effort to bring together practicing managers and academicians on a common platform to explore strategic partnering possibilities between corporates and IBS.

Around 200 executives from across the industry were expected to participate in the meet, which would enhance the learning experience as well as make the management courses being offered by IBS industry need-driven.

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