Just as corporates have their learnings from the company they keep (or the company that keeps them), academics have our own.
When can one call an academic successful? When he publishes a huge amount of papers? When he earns a lot?
Practically, I would say, in order of ranks 1 to many, these could measure his success-
1. Touching lives of students in some way- inspiring them or showing them the path to self-discovery.
2. Treating the students with respect- lots of teachers fail on this count.
3. Blending practice with theory or concepts in the same course, in a trimester or a semester.
4. Doing contemporary projects with or without industry cooperation. Case writing could be one kind.
5. Bringing his/her experiences into the class. Therefore, getting those experiences too..
6. Using innovative learning methods, experimenting with many.
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