MACFAST INDUSTRY INTERFACE (MII)

MACFAST INDUSTRY INTERFACE (MII)

Introduction

Extremely dynamic business world and the rapidly developing knowledge based service economy have put in an increased demand for professionals to manage the business effectively. And this is precisely the reason why amongst various other fields of knowledge, desire for acquiring professional qualifications is growing, both amongst the fresh graduates and working executives. Indian Industry, after the liberalization, has become more aware of the vital linkage between the education system and business and corporate productivity.

Though there is a massive pool of the unemployed, paradoxically there is an acute shortage of skilled and productive professionals in every sector of Indian Economy. This is partly because the Indian Academy has been churning out graduates not in line with the needs of the industry. As much as professional institutes aim to provide well groomed manpower to industry, the latter needs to involve in the affairs of the former for improving quality of manpower. There exists principal-agent relationship between institute and industry. It maintains that there is a theoretical base for a strong institute-industry interface; and hence industry needs to contribute to professional institutes, which, in turn, will have to look forward to the industry for input. Failure to recognize each other’s role will reduce the interface between institute and industry; and it can potentially give rise to mismatch between demand and supply of manpower, which, in turn, can cause disruption in the job market.

Need of Academy Industry Interface

Academia- Industry Interface could be defined as interactive and collaborative arrangement between academic institutions and business corporations for the achievement of certain mutually inclusive goals and objectives. Traditionally, business schools were looking for placements and internships for their students and the industry for fresh recruits who are well trained and equipped with the right KSA  (Knowledge, Skills and Attitude) to be able to contribute to organization’s growth. Bisoux Tricia in his publication, “New Directions in Global Education”, has explored the relationship between academics and industry. He says that corporations are placing growing emphasis on finding the “right person” or “employable candidate”. It forces the professional schools to think more carefully on whom they hire, and therefore the role of industry in the entire professional school model becomes important. Thus, the relationship between industry and academia in management education is symbiotic.

A productive interface between academia and industry, in the present times of knowledge economy, is a critical requirement. The constantly changing management paradigms, in response to growing complexity of the business environment today have necessitated these two to come closer. The industry academia interface is all about knowledge transfer and experience/technology transfer. Today, the professional institutes have realized the importance of ‘working closely with employers’ for the following reasons:

• Increasing complexity in academic and business world and constantly changing needs of the industry;
• Increasing criticality of human competence in creating and sustaining competitiveness of the organizations;
• Shift in management paradigm of professional schools from earlier academic models to revenue based models;
• Growing competition for student placements and industry mind-share, with rapid increase in the number of professional schools and hence the graduates;
• Growing pressure from industry to make their fresh inductees productive from day one to reduce the subsequent training costs.

Academic world is creative and the industry has the task of commercializing ideas. Academia-industry collaboration, world over, is quite limited and no model that is widely used exists, though this has always been a topic of discussion on both sides. The modalities of interface, the extent of collaboration and the benefits of the mutually interdependent relationship of academia-industry partnership were carefully examined by MCAFST, and this unique model – MACFAST Industry Interface - brings to meet the industry’s needs and expectations and the academic aspirations.

About MACFAST Industry Interface (MII)

Weenen Hans van, in his work, “Towards a vision of a sustainable university”, (International Journal of Sustainability in Higher Education Vol.1 no. 1 MCB University Press) outlines the view that organizations today are looking for trained professionals and students capable of taking decisions. MACFAST is of the view that professional schools have to move beyond the phenomenon of ‘working with employers’ towards the concept of ‘working with partners’. The collaboration between the two is dynamic and complex.  A synergistic relationship has to be carved between the professional schools and the industry so that both can benefit and also contribute to enhancing the entire teaching-learning process.

Mar Athanasios College for Advanced Studies Tiruvalla (MACFAST), a post graduate college and research institution, was started in 2001, with the objective of offering specially designed courses in Business Management, Information Technology and Biosciences. Every discipline taught in the college is highly IT-centered. Good academic know-how in line with the current professional demand and inculcating a learning attitude are the focus of education at MACFAST. MACFAST Centre for Research and Development (MCRD) further strives to encourage scientific thinking among students, providing them an opportunity to understand the nuances of scientific research. Emphasis is laid on acquiring knowledge and cultivating the right scientific temperament as well as developing technical skills by providing specialized training in-house.

In the 8 years since inception, the college has bagged 53 university ranks, which is an enviable feat. MACFAST, not only encourages the growth of the mind, but also the development of character, discipline, and ethical thinking. It strives to build worthy citizens for a ‘knowledge society’ where knowledge is shared freely, is powerful and used for the betterment of society and the individual. In keeping with India’s Vision 2020, “Our future depends not on what will happen to us, but on what we decide to become and on the will to create it”, students are equipped to be the change-agent that will revitalize and sustain this revolution.

Synergizing the capabilities in the diverse fields like Computer Science and Management, MACFAST is establishing MACFAST INDUSTRY INTERFACE at Technopark in Trivandrum. Such an interface can give rise to a robust, high quality, interdependent, long-term relationship between industry and academy leading to a win–win situation for both. This system of working with academia would be an essential constituent of Supply Chain Management for the Multinational Companies. Moreover, increasing interdependence between academy and industry will satisfy needs for sustenance and innovation in their respective areas. This initiative aims to offer collaborative learning opportunities for students with the multinational companies at Technopark and other places thus transforming their potentials greatly and grooming them for future challenges.

Proposed Activities Of Macfast Academy Industry Interface

• Exposing students to state-of-the-art tools that the industry uses to encourage them to see the benefits and limitations of these tools and to think of better solutions. Students would thus have a general idea of what is available and what their future employers expect.
• Providing software courses for students majoring in various disciplines
• Engaging students in long term projects which involve large systems, large groups, and dealing with end users. This would teach students different aspects of analysis, design and implementation by involving the reuse, understanding, modification and extension of existing software.
• Interaction of faculty with the Project Managers of the Companies. This would help in understanding the industry standards and their current projects.
• Conducting seminars by employed professionals of the industry. This would introduce awareness of the existing projects amongst students so they can develop their knowledge to fit into the spectrum.
• To provide soft skill training courses as per the needs of the industry
• Undertake Consultancy Assignments for the industry.

The action plan for implementing this initiative - MACFAST Industry Interface (MII) – five innovative programs are chalked out.

1. Academy to Industry

Inorder to impart training for students and to bring academy to industry MACFAST has initiated to establish collaboration with Faith InfoTech, a company in the training business, located in the Technopark campus. Traditionally, students passing out of colleges with a BTech or MCA degree enroll with institutes like Faith Infotech to undergo practical courses leading to employment. MACFAST realized this issue and made a decision to collaborate with Faith Infotech, while the MCA students are still in campus by giving the students an opportunity to be trained for 15 days per semester in an external campus closer to the industry. MACFAST believes that their graduates will be more employable than their peers when they leave the gates of the institution rather than having to bear the cost and time in further training.

2. Industry to Academy

This is an example of successful cooperation between industry and academics, which is designed to help students develop vocational self-concept, acquire job relevant skills and provide informed career decision making ability. In order to bring industry to the campus and to encourage local enterprise and inspire young minds in the campus, MACFAST has initiated association with Logic Manse Solutions Pvt Ltd., started by a group of young entrepreneurs providing IT services. While using MACFAST infrastructure and communication links, Logic Manse is going to start an Extended Development Center at MACFAST. Its aim is to tap into the student network for coding and delivering its projects to its clients.  The student community gets exposure to live projects, customer interaction and professional etiquette through an enterprise within our campus. MACFAST believes that this initiative will enhance Logic Manse revenue model while the student community will have an opportunity to “EARN WHILE THEY LEARN “at MACFAST Campus. In a similar initiative of bringing industry to campus for the Bio Science Department , MACFAST is planning to set up association with Geneseek Inc, US and GENESYS Inc.

3. Corporate Badging

The rationale behind “Corporate Badging” is to identify a talented student in the MACFAST Campus in the day one itself who has the right aptitude, interest and passion to set up their professional goals. Selected companies would be coming to the campus to provide relevant inputs related to their domains and to provide specific business knowledge. Students are given an opportunity to opt their companies and these companies would provide them with Corporate Badges. These students who are “badged” will virtually be a part of the company and the company in turn will give Live Projects and Interships. The Company will put them through a rigorous fire walk, semester to semester, before offering a job to them. These initiatives will enhance the students to set up their immediate study goals and help them to nurture their future career aspirations.

Thinking in these lines MACFAST is also taking initiatives to collaborate with Geojit BNP Paribas and Geojit Technologies. The MCA department is planning to work closely with Geojit Technologies Ltd which provides technology solutions to financial services companies and stock exchanges around the world. In the knowledge society, people are the core of any business.  Realising that finding talented people who have an emotional connect with their employer is yet another issue faced by industry these days, MACFAST pioneered the concept of Corporate Badging with Geojit as its marquee partner.  The Corporate Badging initiative allows Geojit to identify employable talents having interest in the Geojit’s area of business.  Once badged, the student will be provided with relevant inputs in the financial sector that Geojit operates and the market it serves.   Thus the “badged” student derives business specific knowledge, develops skill sets, attributes and knowledge during the academic term.  Geojit on the other end is able to reduce its recruitment and training cycle by working in collaboration with MACFAST.

4. Corporate Scholar

Corporate Scholar Programme is for equipping the faculty with industry knowledge. Faculty will work in industries based on their needs and the requirements of the organization. This helps the faculty in horning their skills and helps in knowledge transfer from the industry to the academy. Thinking in these lines one of our faculty along with four MBA Students are doing a Competency Mapping Project for one organization.

5. Entrepreneurship Development Initiative

“An ignited mind is the most powerful resource on earth, above theearth and under the earth,” says Dr. A.P.J. Abdul Kalam. Universities have played a great role in the emergence of clusters in industrial region. There are many industrial regions in which universities have played a great role in their establishment. Universities and institutes develop a conducive environment for talent pool. The very same people who pass out from universities become economic agents and help to absorb and apply the innovations by setting up or joining new ventures and by catalyzing their functioning.

The new education policy of 1986 had emphasized the need for vocationalisation of education at various levels. Thus, it became necessary to develop mechanisms so that academic institutions could focus their attention on entrepreneurship and self-employment in addition to their present mandate of churning out trained manpower. In collaboration with the Entrepreneurship Development Institute of India, Ahmedabad, MACFAST is integrating a one year Diploma course in entrepreneurship with the MBA program from 2010 onwards. This course will equip the learners with the ability to function dynamically and acquire the requisite knowledge and skills to plan and launch their own dream ventures.

The main objective of the programme is “New Enterprise Creation and Management”. To achieve this objective, the study material is focused on various aspects of starting and managing an enterprise. The Course will definitely motivate MBA students to develop entrepreneurial skills.

The course:

• develops motivation, reinforces entrepreneurial traits and the spirit of enterprise
• facilitates decision making process for setting-up of a new enterprise.
• facilitates successful and profitable operation of the enterprise.

The course focuses on developing entrepreneurial motivation, business opportunity guidance, preparation of detailed project report, project appraisal system of banks and financial institutions and interaction with successful entrepreneurs.

Benefits to the members in the Interface

Academy

• Adopting market concepts in education and R&D
• Identifying priority industries which need innovation for competitive advantage
• Developing long-term sustainable collaboration with prioritized industries
• Mobilizing funds for developing infrastructure in the institute for specified R&D activities
• Promoting compulsory internship program for students and industrial research

Industry

• Realizing the possibilities of innovation in products and process through smart brains at institutes
• Identifying priority institutes which may help with innovation for competitive advantage
• Allocating funds for R&D and innovation activities
• Sharing free information with academic institutes on market and technical problems
• Collaborating on a long-term basis with appropriate institutes for R&D activities
• Allocating supervisors for monitoring and supervising project work and research programs of students at the industry
• New start-ups by commercializing ideas given by the academic fraternity thus helping the corporate grow
• Including the academia into their strategic decisions regarding new business ideas

 Students

• Improving competency in managing situations
• Exposure to practical aspects of management
• Possibility of getting absorbed in the company as soon as they finish the course
• Increasing the “employability factor”
• Earn while learn

State Government

Contributing towards Human Resource Development such that the potentials of the candidates can be utilized efficiently thereby leading them into specialized streams of business and management.

Progression to a Self Sustaining Model in Academia

From a self-financing college, MACFAST is evolving into a self-sustaining college in the imminent years. As a part of this initiation, from next academic year it is planning to select students who are willing to work in the campus enterprises while they learn the course. Students need not pay their tuition fee provided they are willing to work in the Campus Enterprises. Only prerequisite for this is that students are required to submit a Bank Guarantee for the period of their study

“Our idea is to elevate the college from the self-financing mode to a self-sustaining one, making the otherwise expensive advance studies absolutely free for all students here,” says the college principal, Rev. Dr. Abraham Mulamoottil.