Hi Naseer,
I read your post. I would not agree completely with your opinion about project guidelines and title not being provided because most of the people pursuing MBA nowadays are just freshers out of SM graduation college. They definitely require some assistance with the title and scope of projects either from their college or the company where they are executing their projects. In a drive to make them independent, by not providing them with proper guidelines, they would be on their own wasting most of their time in searching topics, making incomplete projects, and then again switching to some other topic when they get stuck with the topic. This would lead to time wastage and inferior projects. Thus, in my opinion, MBA students should be provided proper guidance, guidelines, and topics for projects.
About the late work, I'd better not say anything because I also made my project in 10 days at the end of the training. In my opinion, the ideal thing to do is, after you are through with the training and analysis of the company, or else if you start making your project in the start, you may not entirely spend your time on acquiring the intricacies of business, which is the core purpose of an industrial training.
Your third point about the genuineness of projects - well, I did my summer training at LG Electronics, Mumbai, and now I am a key assessor of projects, especially marketing at my company. I have a much brighter picture to present wherein all the summer trainees I took this year are genuinely contributing towards the project, and I don't think any of them would be impersonating someone else's project. It's all up to us seniors to guide these young MBA people towards their success.
Regards,
Pratyush