What is All India Council for Technical Education (AICTE)

In today's competitive business environment, companies need to recruit right personnel for the right job at the right time. The competencies required for the managers to succeed in the corporate world are knowledge, skills, and attitude. In this context, the chapter explains the need for the industry-academia collaboration in higher education in general and business schools in particular. This collaboration should be at input, process, and output levels of the business school activities. Here the author with the case study of IFIM Business School, located in India, attempts to provide the insights into the best practices followed in industry-academia collaboration. The chapter explains the opportunities and the challenges in fostering effective industry-academia collaboration and offers suggestions to design a strategic win-win business policy for the partners.