"Important event also for the banking industry"
NewBiz B-School Rating-Ranking Awards has indeed become a very important and interesting event. This type of programme can be beneficial for both banks and financial institutions (BFIs) and management colleges to come together and discuss about the production of required human resource. At present, there is a major challenge for Nepali BFIs to manage resources in terms of human capital. With the increasing competitiveness in the sector, banks are seeking skilled and qualified human resources from management colleges. We can collaborate with them and provide our support in this regard.
"The event has maintained fairness in selecting and awarding"
This event has become a source of encouragement to the educational institutions. The awards can inspire other colleges to perform better in terms of providing quality education. Recognising and awarding the colleges also from outside the capital valley is really praiseworthy. It is very good to know that even students from Thailand are studying in a Nepali management college. This indicates the quality of management education being provided here is gradually rising.
So far, NewBiz B-School Rating-Ranking Awards has maintained its fairness in selecting and awarding the participating colleges. I hope the organiser will continue this tradition in the future.
“Need for producing skilled workforce for the insurance sector”
Skilled human resource is what the Nepali insurance companies need the most at present. Only quality manpower in the sector can enhance the quality of services. So, the management colleges should focus on producing skilled human resource. The domestic insurance sector is growing and the demand for workforce is likely to grow further in the coming days. This sector is being acknowledged gradually as one of the potential areas of business. Insurance courses are rarely taught at educational institutions. The introduction of the course at least for six months or one year in the formal education may help the insurance sector a lot.
“Education sector should be developed like corporate sector”
Currently, management students form a majority of the workforce entering the capital market. At present, only a few business groups are investing in the education system in Nepal. The education sector should be developed like the corporate sector. The participation of promoters and the general public with corporate concept is a must in this regard.
Educational institutions should issue shares to the public which helps the sector to become corporate in the future. It is also a real sector and has the potential to succeed. Currently, there are some university level courses related to capital market being taught at Nepali management colleges. There is a need for starting more capital market related programmes. As mentioned by the college chiefs at the event, educational institutions are the producers of workforce. I feel glad to know that New Business Age has been awarding business schools every year since 2013.
“Good relationship between banks and colleges is necessary”
The trend of Nepali students travelling to other countries for higher studies has increased in recent years. In this situation, organising programmes like this can motivate the colleges to focus on providing quality education. The endeavour of New Business Age to include colleges from across the country is admirable. By winning the awards, the moffussil colleges have demonstrated that they can also perform better. We have some students from the awarded colleges. On the basis of their performance, it can be said that they have received quality education. However, the colleges also need to focus on practical education. The quality of education has been improving with time. Also important is to make management education accessible to all. Students from low-income families are deprived of opportunities to receive quality education because of expensive fees. The colleges should provide more scholarships to deserving students from weak economic backgrounds.
The colleges and banks lack proper communication between them. A good level of communication and cooperation between the institutions of the two sectors is necessary for producing and recruiting the required workforce.
“It is important to produce efficient manpower for BFIs”
BFIs and other corporate entities don’t have to face a manpower crunch if the colleges produce efficient human resource in adequate number. The graduates of the awarded colleges have not joined Synergy Finance yet.
We hope they will reach out to us soon. Interactions between finance companies and B-schools are important to identify and understand each other’s needs. The cooperation between them can be stronger if we can suggest to colleges to incorporate subjects that are helpful in our field and increase internships at our institutions.
“Increases competition in quality improvement”
It is a laudable initiative by New Business Age as it has created a competitive environment for the management colleges. The participation of the colleges from outside the valley and other provinces in the event has made it remarkable. This type of programme can help colleges to produce qualified human resource. Many things remain to be done to improve the quality of education. The programme can be more effective if the organisers can take it to the provincial levels.
“Helpful for producing human resource for capital market”
Governments rate colleges in other countries. But in Nepal, that is not happening So, Nepal New Business Age has done an exemplary work by organising this event. I am confident this will encourage the colleges to produce qualified human resource. Concluding the 4th edition of the rating-ranking awards without any controversy and maintaining transparency is a success of the organisers. There is a need to have good relationship between the banking institutions and colleges for mutual benefits.
“Award has encouraged educational institutions”
I am very glad to see that New Business Age has organized such a remarkable programme. An event like this will make many people know about educational institutions from across the country.
The award has encouraged both colleges and their students. The government needs to coordinate between business and education sectors. It will help to produce desired human resource.
To enhance the quality of education, all stakeholders including students, government, parents and educational institutions need to join hands and collectively decide to introduce new programmes.
“It’s a message that education of int’l standards is available in Nepal”
Overall, the programme has been successful in emphasizing the importance of management education in Nepal.
The event has given a message that there are quality educational institutions in the country at a time when Nepali students are flying abroad to pursue their higher studies.
It has shown that Nepali colleges have been producing skilled HR professionals, managers and other human resources required by domestic industries.