An educational institute is not made of brick & mortar alone; there are a whole lot of things that go into creating a quality institute. And, the same applies to B-Schools too. Amongst all such important ingredients, faculty is perhaps one of the most crucial things that either make or break the reputation. Therefore, it is necessary that B-School management choose the talented teaching staff on board. It is important because it enhances B-School goodwill while also earning students’ as well as business world’s trust.
One way of recruiting reliable faculty is selecting meritorious people from premier institutes.With passage of time, these talented people would gain experience and become part of your core teaching staff. Unlike people from corporate world, they cost you less. Alternatively, you can recruit experience people from corporate world. The best thing about these people is that they bring practical experience to the table, which would benefit students immensely. Their experience would enable students to be corporate-ready whilst they are still pursuing their academics. In comparison to fresh-recruits from premier institutes, faculty from corporate world generally cost a bit more.
As such, in choosing between academic faculty and corporate people, B-Schools may often find
it intriguing to arrive at a decision. Therefore, it is better to have a balanced composition of both the worlds. International Institute of Business Studies-IIBS is a shining example in having such a mix of faculty on board its elite pool of teaching staff.