‘ Think global Act local ‘is no longer a option, but a necessity. International work culture, multinational, multicultural teams in every sphere of life, changing work environment, world class infrastructure & smart phones are now a norm rather than a exception. Brands unheard of till just a few years back are a common place phenomena. Malls have taken over traditional markets , corporate have taken over traditional retail & multiplexes have taken over the old rickety cinema halls. Luxury has slowly but surely seeped into every facet of our lives. India is changing – changing really fast. 3 schools are increasingly feeling the heat to change. Can 3 schools afford to be left behind ?? Those who did not adopt to change were forced to shut shop. Schools which produced wanna be managers not wanting to roll up their sleeves felt the heat the fastest. Others who adopted global best practices produced confused managers in lack of balance between Indian and global work environment. While global standards are very necessary and easy to duplicate, can we ignore our traditions & values ? The stereo type Indian education with its primitive ways of teachings and learning has been producing engineers who do not want to work with their hands, Management graduates who wish to start as general manager without any experience !
The start- up wave has been soaring and taking a new direction in India. Yet, we need Skill India to majorly skill and re-skill our youth. Talent available in not fully prepared to face the industrial challenge. Business schools need to break the stereotype education and prepare new talent which is ready to hit the ground running. The time we are living in is already started talking about the liberation of thoughts and individual rights over society . Business schools needs to think and give that much space to students so that the trained managers can really manage and enlarge the possibility of taking things beyond possibilities. Luxury Brand management is a new stream of specialization. Worldwide it was launched some time in 1990 at a few schools in Europe who felt the needs for this very specialized system of handling goods and services. Luxury is not essentially something very expensive, but something which is unique, exclusive and differentiated from the rest by a clear unique proposition. Creating, managing, strategizing for value mind share all the time of a highly demanding audience is the essence. The system programs students to operate in a zero tolerance zone – no scope for errors and mistakes. Although almost around two and half decades old, it’s still a new entrant in the career market. New farm of business requires new ways of teachings i.e. teachings by experience. LCBS have the most experienced and light minded faculties to give students a hang of brands and equity attached to them. Students have an option and opportunity to learn in a completely global environment not only in India but also the International University of Monaco. In addition, all students, as a compulsory part of the course tenure go to premium / luxury brands for internship and experience their way in the market. We believe that students, in addition to classroom content and faculty expertise, need to live the experience. And business schools need to provide the opportunity for students to take advantage of the greatest trends where they are shaping. Immersive & experiential learning are the norms at LCBS. Real experience is priceless, that’s why we are spending as much time in planes, even when we could make do with video conferencing. All B-schools also have a challenge with the weight of activities that must happen on the campus, not only in terms of course work, but also making sure that their Masters live 24X7 lives .