VIRTUAL BUSINESS LAB- AN INNOVATIVE APPROACH TOWARDS MANAGEMENT EDUCATION

The Management education has gain significant demand in present scenario. The Professional, self-motivated and innovative Managers have been required in every segment of economy. However, the academic world has been emphasizing more on theoretical education of the managers than practical learning. On the other hand, Engineers, medical, paramedical courses etc., have been providing the practical exposure to the students. Although, managers are required to manage the various business organizations, requiring complete knowledge of theoretical and practical aspects of management education. The increasing competition in corporate world has also necessitated the managers to gain practical knowledge of the subject from the educational institutions. Hence, this paper is a modest attempt to bring out an innovative model for management education in order to develop the business students completive and self sufficient to meet any business, organizational or environmental challenge in their corporate life.