Dr. Lalit K. Khurana is a distinguished senior faculty member in the area of finance and strategy. With an impressive career spanning over 32 years in industry and academia, he stands as a paragon of knowledge and accomplishment in his field. He holds a Ph.D. from a top-ranking Central University and is an esteemed alumnus of IIM-A. He has made numerous contributions to peer-reviewed journals and book chapters, having authored three books. He actively participates in professional organizations dedicated to advancing finance, strategy, and management control. He has been named the Most Admired Professor at the World BFSI Congress.

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School Of Management, PDEU

Being a Faculty of the Finance Department, what are your roles and responsibilities towards the students? 

As the Finance faculty member and Chairperson of the Finance Club (Finnacle), my primary responsibilities involve teaching finance courses and guiding students in their academic and career journeys. I focus on keeping our finance courses up-to-date and relevant, staying active in case-based research, and staying informed about the latest industry trends. Additionally, I work to establish strong connections between our institute and the finance industry by inviting guest lecturers and organizing events like finance conclaves, workshops, and business quizzes. These initiatives aim to bridge the gap between academia and the finance sector. I believe in integrating practical insights into our curriculum to provide students with real-world knowledge and skills, enriching their educational experience, and empowering them to excel in finance and make a positive impact on their careers.

How do you strategize the curriculum and how often it gets updated to make it befitting for the students?

Strategizing the curriculum is a dynamic and continuous process. The curriculum undergoes regular reviews and updates to stay in line with the latest trends and industry demands. To ensure it remains befitting for our students, we take proactive steps to create a curriculum that aligns with industry trends and demands. At the end of every academic year, we study the evolving needs of the finance industry to identify emerging fields and the skills that are sought after. We have a track record of developing specialized courses based on industry requirements. For instance, I successfully introduced a course on power sector management tailored for MBA students focusing on energy and infrastructure. Recently, I responded to the increasing demand in the finance sector by designing a course on wealth management. These efforts ensure that our students are equipped with the most current knowledge and skills, enabling them to thrive in the competitive job market. Further, to ensure that our curriculum remains relevant, I actively engage with industry professionals and regulatory bodies. Their valuable insights and feedback help us refine the curriculum. We firmly believe in maintaining a curriculum that stays up-to-date, and this philosophy has guided us over the years, demonstrating our agility and responsiveness in meeting the industry's demands. Our commitment to providing students with the best education possible remains at the heart of what we do.

When you came to college, what was your vision and how are you trying to achieve the same?

When I joined this esteemed university, I had a clear vision: to leverage my academic and professional background to make significant contributions to the field of energy sector education. With a PhD from a top-ranking central university in power sector studies, I saw a wonderful opportunity to align my interests with this university's strong focus on the energy sector. And as an alumnus of IIM Ahmedabad, known for its highly regarded case-based teaching approach, I was excited to apply this effective methodology in my work here. It would be worth noting that the School of Management was initially headed by a distinguished faculty member from IIM Ahmedabad who brought similar systems and processes to lay down a strong foundation for a constructive and encouraging teaching and learning environment. The unique setting allowed me to seamlessly integrate case studies and relevant industry examples into the curriculum to ensure that our students gain practical insights and develop problem-solving skills that are essential for their future careers. Additionally, there is flexibility here to adapt and keep the curriculum current by incorporating new topics and removing outdated ones. In essence, my vision has always been to enrich the learning experience, enable students to become industry-ready, and make some lasting impact in the energy sector.

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What do you see as the department’s/ college’s greatest strengths and how it can be enhanced? 

Our commitment is to deliver a comprehensive and forward-looking quality management education. As regards the finance area, I actively embrace advancements in the financial landscape. Our forward-looking approach helps us build on our strengths. We have been able to introduce contemporary courses like Oil and Gas Accounting, Energy Trade and Risk Management, Wealth Management, Forensic Accounting, and Fintech-Blockchain in the context of the increasing importance of financial technology in the industry. We are currently contemplating incorporating a Bloomberg terminal, an industry-standard financial data platform, to provide real-time market insights and hands-on financial analysis experience. This will give our students an invaluable opportunity to work with the same tools utilized by leading financial professionals worldwide. To enhance experiential learning, we are also considering developing the finance lab and integrating it with our existing business analytics lab. This integration will allow students to explore the connections between finance and data analytics, further developing their analytical and problem-solving skills. Moreover, our strategic advantage lies in our location, being situated near the Gujarat International Finance Technology City (GIFT). This proximity offers exceptional networking and internship opportunities for our students within the vibrant financial hub. To further strengthen our core strengths, we are exploring innovative financial tools that will unlock new opportunities for growth and improvement. We are dedicated to staying at the forefront of the dynamic world of finance to ensure that our students are well-prepared.

How do you help your student to cope up with the competition being so high in the outside world?

We utilize an array of strategies to equip our students for a world of competition. Firstly, we organize 4 to 5 power-packed networking conclaves and symposiums every year, where students mingle with top-notch professionals from diverse fields, expand their professional circle, and get priceless insights straight from the experts. We have recently introduced a new initiative this year: the monthly student research seminar. This program is designed to foster intellectual exploration and treasure hunts. Here, we encourage students to dive deep into topics of their interest and show off their research skills. Such seminars aim to fuel curiosity and rigorous thinking. Our alumni network also guides the current students through summer internship projects and job placements. We have a mentorship program that helps students uncover their strengths and passions, providing them with tailor-made advice and insights into a roadmap to success. And we are not just thinking local. Our curriculum has a global twist infused with classic case studies from Harvard Business School and illustrative examples. It's like learning from the best of the best, no matter where they are from. We have also got a finance club where, apart from keeping the students updated on industry trends, guest sessions on career opportunities are conducted, plus we have handed out subscriptions to Business Standard Smart Solutions to all the students like candy so that they remain updated. Thus, by using a mix of all these strategies together, we are crafting the educational journey of our students to ensure that they walk out with skills, knowledge, and the confidence to conquer the competitive world.

What valuable advice would you like to the students for them to have a prosperous career ahead?

In the ever-changing landscape of business, students must heed some valuable advice from faculty to chart out a course towards a prosperous career. It is imperative for students to remain inquisitive and embrace a thirst for continuous learning. The proactive approach would ensure they remained ahead of industry trends and developments. A prosperous career is not without its challenges. Hence, students should cultivate resilience as a cornerstone of their journey. Moments of adversity serve as invaluable learning experiences. This resilience is interwoven with soft skills such as effective communication, teamwork, and emotional intelligence. Students can focus on learning soft skills, which have become pivotal for success in the evolving professional landscape. Ethical conduct also stands as a steadfast pillar. Students must uphold a strong moral compass, not only for personal growth but also to cultivate a positive reputation for their chosen profession. This commitment to integrity serves as the bedrock for ethical decision-making and contributes to an environment of trust and respect.

Do you have any extracurricular activities/ programs to enhance the skills of the students or expose them to real-world challenges?

We provide students with hands-on experiences that transcend the traditional classroom setting. We organize several activities that are not just institutional but student-driven as well. They are designed to tap into students' passions, interests, and talents, empowering them to take ownership of their personal growth. One such highlight is our "SPM FEST," a flagship event that takes place annually. This event stands as a vibrant confluence of sports, culture, and business management games. It's a platform where students showcase their skills, compete in sports, and engage in simulated business-related challenges, all the while celebrating cultural diversity. We also recognize the significance of nurturing cultural engagement. We have a calendar of cultural activities to ensure that students have ample opportunities to explore their creative sides. Students get opportunities to express themselves artistically and immerse themselves in diverse cultural experiences. These activities also promote teamwork, empathy, and cross-cultural understanding. Furthermore, our student clubs play a pivotal role in enriching students' extracurricular journeys. These clubs, covering a spectrum of interests, allow students to collaborate with peers who share similar passions. Whether it's the finance club or marketing, these platforms offer students the chance to take initiative, organize events, and further enhance their leadership and teamwork skills. We believe that these extracurricular endeavours are essential in shaping well-rounded individuals equipped with the skills to excel in their careers.