The faculty members and staff of IIM Indore are known for their out-of-the-box teaching and pedagogy methods. One such programme, the Industrial Visit (IV) focuses on preparing the participants to learn about the day-to-day workings of a particular industry and understand its operational issues. The programme also helps keep students abreast with the current management practices followed by such organizations and acquire traits that the industry demands of them.
First started for the batch of year 2012-14 in their first year, it entailed students visiting an organization in-and-around Indore once a week, for a period of six months. Having proved its relevance, the programme, currently in its second year of implementation, has evolved to be a great source of learning for the participants.
As a part of the programme, the participants are divided into groups of 15, with each group consisting of a proportional mix of experienced and fresher candidates. These groups are then allotted a particular industry from different domains including SMEs, Indore Development Authority, Indore Police, and hospitality industry members such as Sayaji and Radisson Blu. The Institute arranges for the logistics but the participants are usually required to interface with the organization about regular visits on their own.
The initial round of the visits entails understanding the industry, the organization’s operations and the overall business environment. In the subsequent rounds, the company gives the students a problem statement/objective, following which the participants are supposed to do a critical analysis and present their solutions to the company management.
An example of this would be when one of the hospitality industry members asked the participants to do a feasibility study and analyze the scope of tourism in-and-around Indore. Another example of the same is when participants were asked to conduct surveys by the Indore Police to help solve the common problems faced by the traffic police.
Benefits to the Participants
The benefits of this programme are multifold. Not only are the students initiated into the industrial world as managers but are also made aware of the practical limitations posed by real-life situations.
In addition, the students also benefit in the following ways:
They get an opportunity to gain in-depth knowledge about the field of their interest, helping them make the correct career choice in future.
Interfacing with the industry gives them a chance to build networks and hone their business communication skills.
The programme enables the students to apply their classroom learning to a real-life situation while being mentored by a variety of industry experts.
Moreover, the participating organizations also gain from this programme:
They receive an external perspective. The SMEs, especially, get to know about the new innovations and ‘Best Practices’ that can be implemented in their organizations, which in turn helps to improve their operations.
The organizations also get a sense of the quality of participants, aiding them in the recruitment process.