AN EMPIRICAL STUDY TO BRIDGE THE GAP BETWEEN THE ACADEMICS AND INDUSTRY

Universities and industry, which for long have been operating in separate domains, are rapidly coming closer to each other to create synergies. The constantly changing management paradigms, in response to growing complexity of the business environment today have necessitated these two to come closer. Higher education institutions not only contribute skilled human resources to business, but also in various intangible ways. The intersecting needs and mutually interdependent relationship requir es identifying means of further strengthening academia - industry partnerships. Thus, the approach is required to chalking out a plan, so that institution can address the problem in its bud. This paper attempts to explore how business schools can work closel y with industry, study the dimensions of academia - industry, and identify possible areas where industry’s input to academia would be most successful. This Exploratory study involves first hand information from faculty and heads of business schools on this i ssue, and focuses on the Indian scenario.