By forexlibrary 
A syllabus, when we look at what it is, is essentially a document that outlines to the reader the intentions and content of the instructor about course content, learning objectives, assessment approach, expectations, and other matters. It tells the reader what the course will look like and what the student should expect.
A good syllabus should provide comprehensive knowledge and teach students how to use the concepts to solve business problems. As these skills are required by the industry, a good syllabus will help students acquire conceptual knowledge and analytical and logical thinking.
A syllabus is an instructional tool that sets the standard for what will happen in a course session. It outlines the concepts and topics that students will need to know in order to pass the final exam. The syllabus is the contract between students and teachers. It contains functions and ideas that will be used to assess students’ performance. A syllabus is a reflection exercise that allows the instructor to reflect on his or her teaching philosophy, the importance of the course, the place it fits within the discipline, the topics covered and the due dates. Instructors can also avoid student grievances and misinterpretations by clearly communicating expectations. The syllabus is constantly being updated and improved. The syllabus includes subjects such as Artificial Intelligence, Business Analytics, and Artificial Intelligence. So that the latest trends can be covered, they have been included in the syllabus. There is a gap between what students are taught in school and the practical application of these skills in real life. It is crucial to help students understand the industry and bridge this gap. It is important to have a syllabus. According to India Skills Report 2018, approximately 3,60,000 MBA students graduate each year from 4000 B-schools. 61% of these students are not able to find employment due to their lack of skills and less work experience. The employability rate of MBA students fell by 3% compared to last. Both work experience and skills gaps can be addressed by B schools through their program research or curriculum. There is a significant gap between B-schools, and their relevance to their curriculum. It is high time that B-schools realize the importance of constant curriculum revision. It is important to constantly update the curriculum and syllabus.
Meeting Industry Requirements: Business management programs tend to focus on theory and rote learning, with little emphasis on practical skills and job skill development. Employers are becoming more dissatisfied with the job readiness of MBA graduates. It is essential that B-schools adapt their curriculum to industry standards if they want to improve the employability of their students.
The brand image of the institution: The business management education sector is highly competitive with hundreds of institutes existing and new ones emerging every year. One way to stand out is to reinvent the curriculum and to be ranked among the top B-schools is to do so.
McKinsey Global institute’s report, Be Future-Ready, outlines that at least 30%-60% all occupations will be automated within the next 20 years. Due to the rapid advancements in technology, and changing business environments in terms of volatility and complexity, B-schools need to be prepared for these changes and prepare students for global job opportunities and global competitiveness. B-schools that don’t give enough importance to aligning with industry needs and understanding them will likely fall.
How can good B-Schools reinvent their program delivery?
The majority of B-schools still follow an outdated curriculum. There are some exceptional institutions that have taken the necessary steps to overhaul their curriculum. Let’s look at these B-schools who have transformed their programs.
Interactive and Immersive Education: A curriculum that focuses only on textbook knowledge and one-sided interaction is not attractive to students and does not add any value to their resume. B-schools now use technology to expand their curriculum and offer interactive, blended education. They incorporate audio-visual aids, interactive whiteboards, and multimedia presentations into their pedagogy. They also deliver live or recorded online lectures by industry experts and professors around the globe.
Some B-schools offer courses that are gamified and allow students to learn at their own pace. The emphasis is on practical training and experiential learning, with a greater focus on case studies, simulation activities and field trips, group discussions and projects, as well as student exchange programs and internships. This type of curriculum encourages students not to be limited by the conventional and allows them to apply their theoretical knowledge in real-life situations.
Consultation from the Industry and Program Alignment: It is easier to adapt the curriculum to meet industry needs than to seek academic inputs from businesses. B-schools can benefit from a strong and ongoing industry interaction through academic research. Collaboration with the industry allows B-schools also to develop niche courses in futuristic and emerging sectors, and to provide students with necessary skills development resources.
Entrepreneurial Model for Learning: Students today are full of business ideas and would be willing to take a leap in entrepreneurship right after they have finished their studies. They need support at the academic level. Therefore, B-schools now incorporate the entrepreneurial model of learning.
B-schools offer specialized courses in entrepreneurship and also host events that allow students to actually develop their ideas commercially. These events are often held in partnership with start-up communities and business organizations that mentor students on different aspects of entrepreneurship. This helps students develop their creativity, critical thinking and problem-solving skills.
Faculty Development: Only faculty with enough experience and expertise in current academic and business trends can conduct continuous program research. The current academic system leaves little time for faculty to do research or re-skill. Many B-schools address this issue by encouraging faculty to take refresher courses, take sabbaticals, and participate in industry events.
Program Alignment with Industry is the foundation of any B school and should be constantly updated in line with academic trends and industry requirements.
VBS’s Board of Studies also recommends the institution on matters related to academics and current business needs. The current board includes 29 members with extensive knowledge in a variety of fields, including business, education, and administration. The Board is responsible for studying the syllabus, suggesting changes to it based on industry trends, understanding current teaching pedagogy, and proposing many alterations. It also encourages industry collaborations through industry events and meet-ups.
It is important to revise and update the curriculum of the business school on a regular basis in order to keep it current.