The news that that Indra Nooyi becomes 'most generous graduate' of Yell School of Management has an important quote from Ms. Nooyi. The following is the quotation from the news item:
The PepsiCo chairman, who graduated from the school in 1980, credited her experience at the school for “forever” altering “the course of my life” and said her gift “pales in comparison with the gift that Yale gave me the fundamental understanding that leadership requires an expansive worldview and a deep appreciation of the many points of intersection between business and society.”
I believe that business schools cannot produce business leaders. I think that Ms. Nooyi is a born business leader and Yale Management School had nurtured it. But that is a great contribution.
Indian business schools should aim to transform lives rather than creating graduates who learn subjects at superficial level without deep understanding. This is a difficult proposition. But we should aim for the same. The first step in achieving the goal is to transform business school teachers. Top IIMs and government should join together to create a pool of teachers who will adapt the new approach of 'transforming lives' towards business education.