Strategic Management in Centrally Funded Technical Institutions in India

Abstract

In a globalised economy, education is seen as a service that could be marketed worldwide. Universities and other institutions have to compete with each other to attract high quality students and academic staff across the globe. A good governance system helps to create a stimulating ecosystem to attract talented students and faculty and to motivate the latter through performance incentives structure. Examination of the competitive environment of the Institution is of special importance, while planning for the future. The studies resorting to strategic management suggested to improve education and to meet the challenges of the new millennium. Strategic management in public universities help top management to align its resources in the most efficient manner necessary for the attainment of strategic milestones and to stay competitive. In this situation, the research has been initiated with the objective of identifying strategic management practices in Centrally Funded Technical Institutions (CFTIs) in India. The study also focused to find out the impeders of strategy implementation and to evolve a strategic management model for CFTIs. The research method for this study has been carefully designed with a combination of exploratory and descriptive research design. Exploratory research design involved use of qualitative research method of in-depth interviews with educational experts, faculty and students has been instrumental in arriving at problem domain and the conceptual framework for the study, identifying research constructs and devising the survey questionnaires. Subsequently, descriptive approach has been applied using qualitative research method of survey. The survey of institutions and various stakeholders enabled the researcher to test the research framework empirically and to figure out the present level of strategic management practices in CFTIs, identifying the impeders in implementation of strategies. The research has been successful in devising a strategic management model for the CFTIs in India.