Any product or service which is needed has a demand.
When there is no demand the product has no worth. However, the
professional managers are always in great demand even in developed
countries. According to a professor of Stanford Business School,
"This is a great time to be in business education. There is plenty
of money and technology but shortage of good managers." Therefore,
the question of over supply does not arises. Employers are always in
search of quality professional managers.
The objective of Institute of Business Administration
(IBA) was never to produce large number of MBAs. It has always
emphasized on quality and it is committed to follow this motto. Only a
few business schools are producing quality graduates, not enough to meet
the growing demand. It is a very serious issue originating from low
literacy in the country and poor quality of education. The apparent over
supply is also due to employers funding higher education of their
employees. Some of the employees prefer to join those schools where they
do not have to work hard.
Since its establishment in 1955, Institute of
Business Administration has produced slightly more than 4,000 MBAs
including those specializing in MIS. IBA graduates are working at key
positions not only in Pakistan but also abroad. Two of the present
ministers, Shaukat Aziz and Khair Mohammad Junejo are IBA graduates. I
believe that IBA graduates have the ability to face professional
Japanese say that a new product is like a baby who
needs attention. In the earlier days IBA used to get ample funds from
USAID. It had affiliation with a leading business school. Instructors
used to come from the USA and the same curriculum was followed. They
also used to train local faculty. Subsequently IBA was affiliated with
University of Southern California. In early sixties local case studies
were prepared. However, once IBA became part of public sector
university, the remuneration of faculty did not match with what they
could get by serving in private sector.
An effort was made to ensure additional income for
the faculty. IBA allowed them to conduct various types of tests for
different organizations. This helped them in raising additional money.
However, this practice diverted their attention from teaching. At times
out of 52 Sundays of a year, they were conducting test on 32 Sundays.
This was beyond their physical limitations.
Two years ago the Board of Governors chalked out an
elaborate plan to restructure the Institute. Some of the key decisions
made were: payment of salary to faculty at market rates, induction of
new faculty with doctorate qualification and a plan to mobilize
endowment fund. Even in developed countries universities get grant from
government and mobilize funds to meet their expenses. I can say this
confidently that now IBA faculty is getting remuneration which is
comparable or even higher than that is paid by the corporates.
One of the prime responsibility of business schools
is to carry out extensive research to improve corporate working,
minimize wastage. In Pakistan it is often believed that we are doing the
right things but hardly any effort is made to find out how the others
are doing. We give attention to improving quality, optimizing cost and
reducing wastage. A lot of people do not have comprehension of
Pakistan's potential. If we wish to live with respect, we have to
strengthen Pakistan's economy. This can only be achieved by exploiting
all the available resources. We must work hard with clear head and
should not shy away from making experiments/innovations.
To give a new vigour to IBA, special attention is
being paid to strengthen faculty. Currently we have twenty two Ph. D.s,
fourteen full time and eight part time. During the current financial
year we intend to raise the number of full time Ph. D.s to twenty. Last
year six faculty members were sent for doctorate programme. Out of this
three are expected to return next year after the completion. Next year
another four members will be sent for doctorate programme.
We wish to make IBA the hub for business education.
After September 11 it has become extremely difficult for students to go
to the US for higher education. Not only that IBA can become a preferred
place for higher education for Pakistanis but also for the students of
other countries in the region. IBA intends to introduce new programmes
as well as update the existing curriculum. For example BCS prrogramme of
IBA include business courses which makes the graduate more articulated
We want to give a futuristic vision to our graduates
whereby they can think independently, with an open mind, and make the
right decisions. We wish to concentrate more on quality.