We bring our readers the popular annual issue on B-Schools.
India and the world are changing fast. For almost the last two years, AI has swept the world, promising to change all aspects of life, from medicine to manufacturing to education to entertainment and, of course, business.
Of course, these are early days and nobody knows how it will all pan out. But it is clear that AI is not a bubble, but will, over time, have a huge impact on many walks of life. Educational institutions all over the world have raced to include AI in many disciplines, including the humanities and business.
Our top B-Schools and Engineering colleges have also been quick to adapt to the changing environment. In this year’s issue, we look at the impact that AI is having on business education. It is true that only the top – say 100 – institutions will adapt to the change quickly. But slowly and surely, the hundreds of other B-Schools will follow. They will have no choice because that is what the industry will want. The placements and the longer-term prospects of the B-School graduates will otherwise be impacted. In fact, so much have our top institutions improved that the starting salaries of their graduates are closing in on the starting salaries of the top global B-Schools.
While we were working on the issue, the story of the Tata Trusts dominated the media over the last several weeks. Clearly, there have been differences of opinion amongst the trustees, which, completely alien to the Tata ethos, have been played out fully in public. But behind the differences in opinion, there have been power plays, which could shape control of the Trusts for the next 25 years, and in turn impact the long-term functioning of the whole Tata group, not only the biggest group, but the most important one in the country.
Mehli Mistry was brought on board as Trustee by Ratan Tata, less than two years before he died, and that too for a fixed three-year term. He, supported surprisingly by half the Trustees, again all relatively new appointees, made a bid to be appointed to the Board of Tata Sons. This was opposed by Noel Tata, the Chairman and the other, older trustees. What is equally surprising is that the same group of newer Trustees earlier had a resolution passed, stating that all existing Trustees would, on the expiry of their terms, be appointed Trustees for life, which, for some reason, the older Trustees unanimously went along with. This would have cemented the longer-term absolute control of the Trusts to the new Trustees, all of whom were significantly younger than the older Trustees. Clearly, Ratan Tata did not want lifetime Trustees, as they were appointed for fixed terms by him. Whether Mehli Mistry goes to the courts is not clear, but the courts are most likely to reject his interpretation and claims.
Noel Tata, just in time, firmly nipped this in the bud by refusing to reappoint Mehli Mistry to the Boards of the two main Trusts. This decisive step, in his very early days as Chairman of the Trusts, saved himself, the Trusts and the Tata Group from lifelong continuous disputes. In effect, for the foreseeable future, he has stabilised and secured the Tata Group.