Interview by Sakshi Aggarwal
Dr. Yogeshwari Phatak has been associated with Prestige Institute of Management and Research, Indore since November 1, 1994. She has been involved with teaching Financial Services, International Finance and others finance oriented subjects/courses at Postgraduate level to the students of management.
She has studied at Bombay and obtained her B.Com Honors from Bombay University. She has done her M.B.A. in Finance from Department of Business Management Nagpur University and her Ph.D. from Institute of Management Studies, DAVV, Indore.
She was nominated by ICICI to attend a 10 days Wealth Management extensive training program organized by ICICI at Pattaya, Thailand. She has attended a number of National and International Conferences where she has presented research papers in the area of Finance and Education. She has supervised a number of research projects and has been awarded the Best Summer Internship Program Co-ordinator by ICFAI, Hyderabad. She has to her credit more than 50 research papers in journals and books. She has edited books in the area of Management and has developed and published a number of casestudies and case monographs. Some of her cases have also been published by European Case Clearing House, Cranfield University, U.K. She has also written and published number of status papers on Indian and world economy. She has served as an Editor for the Prestige Management Journal for a number of years.
She is a recognized Ph.D. guide by Zoroastrian Society, Indore and Devi Ahilya Vishwa Vidhyalaya, Indore and six research scholars have been awarded Ph.D. under her guidance. Her doctoral dissertation has been published by the Journal of Finance India. Dr. Yogeshwari Phatak has been engaged in corporate training and is a recognized AMFI trainer. She has also conducted training programs for executive of J.K. Industries (Tyre and Tube Division) at Kankroli, Indore Management Association, NJ Invest Pvt. Ltd., Surat and Rustom Ji Armed Police Training Academy, Indore Management Association Indore to name a few. She is also a motivational speaker and has conducted workshops on topics
like Creative Decision Making, Habits of Successful people, Management by Consciousness, Self-Management. She has been Vice President of Western Region at Association of Indian Management Schools (AIMS). She is on the review panel for Pearson Education House and Oxford University press. Besides she has been on editorial board of Journal of Peoples Republic of Bangladesh.
She is member of Rotary Club Indore Uptown. She was on Governing Body member of State Resource Centre for Adult Education Bhartiya Grameen Mahila Sangh, Indore and on the Advisory Board of MPSE Institute of Knowledge Management and AIESEC, Indore. She is also member of Board of Studies of JK Lakshmipat University, Jaipur and is on the Board of Studies of Mumbai University. She is a Panel Member of Ph.D evaluation of Jain University, Bangalore; Ganpat University, Ahmedabad;. Bharti Vidya Peeth University, Mumbai; Utkal University, Bhubaneshwar and Sukhadia University, Udaipur. She has been nominated on Asia’s Who’s Who - Men & Women of Achievement, Rifacimento International Consecutively for last four years.
Dr. Yogeshwari Phatak’s experience in the education industry
My experience in the education field has been very fulfilling. Education builds a nation. No development can take place without enhancing the quality of education. Therefore, I personally believe that as academicians we contribute to the national building and character building process. It understood in its true sense, there cannot be a more fulfilling career than academicians.
Dr. Yogeshwari Phatak’s philosophy of leadership and her leadership style
Firstly, I do not look at myself in a hierarchy with me as the leader and the rest of my colleagues as those that need to be led. In education and in industries where the intellectual level of the service providers is high the leadership style is democratic and consultative. Because each of the team members is capable of providing quality inputs. The Director is a facilitator who brings together diverse ideas and viewpoints to enhance the quality of education to make it relevant and helps quality provide employability, develop good character and innovative, thinking ability among students.
Changes in the education industry, noticed by Dr. Yogeshwari Phatak, over the years
The education system has evolved in last few years. We have seen a large number of private institutions in areas of management, medical, pharmacy, engineering to name a few. This has made technical education available to a larger number of aspiring students. However, this has also led to some challenges like availability of experienced and good quality faculty, the extensive burden on existing government universities due to a large number of affiliate private universities etc. This has generally led to an increase in gross enrolment ratio on one hand but compromised with education quality on the other.
Only a few institutions are ensuring quality education leading to good placement track records, a larger number of entrepreneurs, increase in research and industrial consultancies. The gap between corporate and academics is slowly reducing and the last few years has seen corporate personnel freely moving to academicians and vice versa.
The globalisation effect has also hit the academic sector which has resulted in an increase in twinning programs, student-faculty exchange, joint faculty research with foreign universities. Overall the changes will finally lead to higher quality education and filtering and exit of institutions not up to the mark as student community is becoming more aware, conscious and demanding.
Dr. Yogeshwari Phatak’s relationship with the students
The best way to establish a relationship with students is to ensure a transparent environment, which is friendly and looks at students as the most important player in the education system. Every penny spent and every decision taken must somehow convert to student enhancement. If this vision is clear and the well-being and development of students is at the core of all activities and systems, the students automatically start looking at you as a facilitator. You’re working and system gives the message more clearly than any words you speak. Besides that, at PIMR, there is an open-door policy and students are free to walk into the Director’s office for any grievance or issue besides students’ feedback is solicited in all important decisions of the institute.
Curriculum at PIMR, Indore and growth of students through placement opportunities available there
Placements of PIMR have been showing an increasing trend as far as the number of companies on campus is concerned as well as the package received. The institute has seen more than 375 companies in the campus for placement with Amazon placing students as 12 lakhs p.a. The number of students opting for entrepreneurship has also increased. This is due to the effort being made by the institute in this direction.
Our students procure good placement largely due to our curriculum which gets revised every year. This is due to autonomous status conferred on PIMR by UGC since 2006. The institute has constituted a corporate advisory committee consisting of top corporate personnel who recommend changes to curriculum as per changing industry needs. Institute also offers students short certificate programs in association with industry to enhance practical exposure. Multinationals approach the institute for OJTS and a number of students get pre-placement offers. Institute has also signed MOU with a number of foreign universities and students are sent for short certificate programs and industrial visits, abroad visit offshore industries of top MNCs like BMV, Munich, Airbus Hamburg, Coca-Cola Belgium, Antwerp port to name a few. Students are also sent abroad for Summer Internship through its collaborative partners.
Dr. Yogeshwari on how does PIMR, Indore stand apart from other institutions
The institute has been providing quality education for last 23 years and is a brand in its own right. The new private universities entering the academic field are either not having any academic background, not able to understand the educational needs of students or are in such a hurry to launch their programs and start getting a return on their investment that they start courses without good faculty, infrastructure and systems. The first batch impression makes a lot of impact on brand image. Moreover, the education sector depends on word of mouth communication and when students do not get what they are promised they tend to give negative feedback. Our institution has consistently provided best return on investment for students and is among top 15 B-Schools to do so. This speaks a lot about the institute.
Some important changes that Dr. Yogeshwari has brought in the curriculum of PIMR, Indore
PIMR curriculum was first governed by DAVV. However, since 2006 after getting Autonomous status we have started revising the curriculum regularly. Brought innovative electives, introduced choice-based credit system. Introduced the concept of program outcomes in line with Vision-Mission of the Institution. Course outcomes in line with program outcomes and introduced Rubric to evaluate learning outcomes. The curriculum itself has found new elective specialisation being introduced and more focus on learning through Case Studies, Simulation Games, Minor Research Projects, Seminars, Management Games, International Short Certificate Programs, Certification from Industry and National Bodies and Tie-up with Institutions in India and Abroad, foreign internships to name a few.
Qualities, which over the years, have helped Dr. Yogeshwari and the entire management to create a brand name for PIMR, Indore
Commitment to quality education, vision of our Philanthropist Chairman Dr. N.N. Jain, high-quality research, institute-industry interface, outstanding alumni, record transparent system, societal engagement and excellent placements have helped us create a brand name for PIMR.
Goals in mind for PIMR, Indore for the next few years
The institution is poised at a very crucial stage. It needs to now fly to the next level. Its wings are strong and well developed and therefore a mild breeze will ensure that it takes off to greater heights. This involves more autonomy in course selection namely University Status, entering new areas like Designing, Pure Humanities, Pharma to name a few. Enhanced student and faculty exchange with top Foreign Universities. Joint research with faculty top hundred universities in the world and last but not the least become a brand in Corporate Consultancy.
Message for students wishing to join PIMR, Indore in the near future
Come and be a part of the magic that is PIMR, and transform your lives and fulfil your dreams.