Redefined MBA — Emerging needs, Evolving Education.
Rapid globalization, fast changing technologies, demanding clients and tough socio-economic-political situations have created pressures for the corporates, and so they are forced to rethink and create technological and organizational innovations.
“You never change things by fighting the existing reality. To change something, build a new model that makes the old model obsolete” -Buckminster Fuller. This holds true as creation of new, or redesigning the old, takes immense patience, commitment and innovative thinking.
Nothing stays the same forever. In this fast changing landscape, as we find ourselves chasing new dreams and exploring new horizons, many sectors find themselves at the crossroads, and we can see them gradually evolving to keep pace with today’s changes and requirements
Against the backdrop of many such developments, MBA education is poised to take advantage of exciting opportunities to rethink, redesign, and innovate, and develop more successful professionals.
The MBA pathway:
Management studies have been a Launchpad to a great future for many students. An MBA degree gives the students an edge over the others.
The current trends in the MBA world has been centered more around innovation. Manufacturing, Capital markets, finance, consulting, technology, healthcare, International business and entrepreneurship…. each vertical has helped MBA grow, and nurture, by enriching its students. The pay checks in these verticals have also been promising.
The booming ecommerce market is getting more competitive with major players like Amazon, Flipkart are ruling the sales market in India. This has given rise to demand for more well-qualified graduates.
Rethinking and reshaping business education:
In the face of changing business dynamics, the crucial challenge lies in preparing the future managers to thrive in the global environment by shaping their analytical, technological and creative skills, apart from developing a well-rounded personality.
Let us try to understand some of the crucial factors that can shape the MBA education in near future.
- Spotlight on creativity:
Currently, creativity holds immense value in the academic arena. Imagine if entrepreneurs could be story tellers! Amazing thought! It would be interesting to see the young entrepreneurs transforming into great story tellers to help their potential customers understand their organization. As we are aware, in today’s world, spotlight is on building a formidable brand, and crafting a compelling story about the brand would enhance its value manifold.
- Learning through enquiry, and discovery:
Innovation is the result of constant questioning, experimenting and discovery. The
true purpose of the MBA education is achieved when the students learn to grasp the customer needs, question openly and apply out of the box thinking strategies to come up with innovative solutions. It will be highly beneficial for the students if they enjoy this process of discovery and questioning in their studies. This would also involve growth through research and development. The entrepreneurs have to understand that in this scenario of rapidly evolving technology, sustainable growth and progress is more complex and dynamic. This requires extensive researching and integrating customer experience, technical expertise and using more of social media.
- Harnessing the power of technology and data analytics:
Big data analytics is a kind of revolution in the field of technology. Technologies such as Hadoop and cloud based analytics help in cost reduction when it comes to storing large amount of data. The speed of Hadoop enables the professionals to analyse data immediately, thus leading to faster and better decision making. This, in turn, would help in the launching of new products in the market. So, for smarter business moves, more efficient business operations and profits, the entrepreneurs have to learn to ride confidently on the power of new technology.
- Understanding the business model design:
Entrepreneurs, during their journey of designing their business models, have to understand how a value proposition can be utilized to build a profitable business. A sustainable innovation hinges more on how values are created, and nurtured, to let them flourish. This business model essentially captures and delivers value through its work in economic, cultural and social contexts. Business models are used to describe and classify businesses in an entrepreneurial setting and, also used by managers inside companies to explore possibilities for future development. This provides them an edge in mapping their hypothesis about the desirability, feasibility and visibility of their businesses.
Apart from all these factors, the entrepreneurs have to understand the importance of extensive networking, and developing strategic partnerships, to grow and nurture their businesses and, stay ahead in today’s competitive environment.
Do you wish be a part of this exciting scenario and build your career? Looking for one such MBA program?
Educesta Global Services, a renowned education management company is offering a competitive MBA in Capital Markets along with Professional Diploma in Capital Markets. This MBA degree is awarded by the University of the West of Scotland.
This program is immensely useful for students who want to build their career in financial markets, banking and investments.