There are many good things that business schools teach and develop in future managers. They are certainly important for the development of any economy. However, there are things that B-schools do not teach.

They can be explained as the Four 'R's:

Risk taking: Risk-taking is not taught. It can be inculcated, cultivated and accentuated. It is important that when you come out of a B-school you do not only look at becoming a manager; you should also be encouraged to look at becoming an entrepreneur. Risk-taking ability is some-thing that helps create path-breaking ideas come to life.

B-schools must not only develop managers but also develop entrepreneurs.

Ridicule facing: Many a times when you start something afresh or come up with a new concept in your company, as a manager or as an entrepreneur, many people may laugh at you. They may ridicule you. However, you need to believe in yourself and follow your passion and creativity with tremendous resilience. It is not important who laughs first.

According to me, what is important is who has the last laugh, who laughs all the way to the bank.

Revolutionary thought leadership: This is important in any business venture, whether as a manager or an entrepreneur: you need to understand the needs of the consumers, meet those needs and improve the quality of life of the consumers.

This will help both the topline and bottomline. Unfortunately, B-schools propogate an evolutionary approach when they should be encouraging revolutionary thought leadership.

Relationship building: Hardly any attention is paid to this 'R'. Ethical, honest and sustainable relationships with customers are critical in today's competitive world. My brand mantra for relationship building is Sambandh nahin toh sab-bandh.

If these four gaps - the Four 'R's - are taught, developed, encouraged, inculcated, cultivated or guided, the boom would be faster not only in the economy, but also in the self-confidence and progressive development of every management graduate.