My management education still comes in handy. Though several theories and ideas were discussed and taught in a closed environment, one gradually learnt to adapt them in the real world.

My B-school didn't fall short of imparting me a good education; but it could probably have done a better job of it. Now that I interact with real-life people and problems, I realise that the role of HR management is under-rated in most management programmes, unless you decide to specialise in the function. You can't be a good manager if you are not a good HR person. Here, the power of communication can't be underestimated.

Look at the media industry -- it's all about people. You have people at several levels -- from drivers and technicians to editors and sales people. But if you think the boss's will works every time, you are wrong. If the engineer is not motivated to transmit a live telecast in the best way, no one can do anything. You could be the best manager, the best planner, but it will all come to nought unless you motivate the people to give their best.

Also, never underestimate the power of understanding the finances of a business. Look at a housewife; I believe she is the best manager. No matter what unexpected expenses arise, she manages to keep the ship on an even keel, never letting it rock.

That's exactly what a manager is supposed to do -- be prepared for the unexpected. Here, I offer a solution in the form of practical case studies. That is, students should be taught how to manage cash flow practically.

At the same time, there are things that a B-school can't teach you. How to adapt and learn on your own, for instance.

Piyush Jain is Chief Operating Officer, Channel 7. He graduated from Amity Business School in 1997.

As told to Prerna Raturi