With the future of businesses being affected by climate and environment changes, corporate governance, geo-political issues and redundancy, innovation and inclusive growth with environment empathy will define strategies in HR, marketing, finance and product design in almost every aspect of business.
An MBA degree continues to attract aspirants as much as it did a decade ago. And in today’s ever evolving corporate scenario, candidates have also realized that an MBA degree gives them an opportunity to accelerate their career growth as they bring to the table the much needed management expertise and business acumen. Hiring managers, too, say that the mere mention of MBA in your resume can give you the much needed edge.
The rules of the game have changed have you been paying attention?
The question is, will students doing their MBAs toady be groomed to face these new scenarios, with limited and different resources to work with? Will they be able to look at things from different pairs of lenses and derive meaningful and sustainable solutions?
This would certainly require a fresh way of designing and delivering management education. Therefore, when students and their guardians are scouting for an MBA qualifications from hereon, they will need to look for signs of a futuristic management program. Apart from the to brand name and the past placement records which dominate the search criteria due weight age also needs to be given to aspects such as: subjects that inculcate innovation and creative thinking, ethnography, understanding of the digital economy and the changes it is fostering, leadership and environment related subjects / activities, the opportunities provided by the business school for a student to connect with people from different walks of life so as to be able to understand the changes in the social structures over time.
Corporates today are talking about reaching the bottom of the pyramid and seeing the business connect between being socially responsible and business wise innovative and meaningful. The Tata Nano is an ideal example of how empathy towards social needs and connects with the common man change the rules of the game for a business and eventually make terrific business sense.
Fortunately in India, there are abundant issues that need to be resolved in every day walk of life, making the environment conducive to problem solving or what one might call jugaad the key is how this one time jugaad can be converted into something sustainable.
The MBA aspirants should question themselves as to why a student from the same class with the same facilities in the same specialization and groomed in the same environment gets into a top class company with excellent compensation whereas others get lesser packages in the campus placement. Therefore, a lot will depend no the individual. And if they work hard systematically and are determined, they can surely be the winners. More than the degree what plays the crucial role is discipline dedication and determination.
All of this also requires business schools to look for students beyond their cognitive and mathematical abilities and also give due weight age to qualities such as creative ability, capacity to work in a unstructured environment ability to observe beyond the obvious and other such soft skills. Because over time only with these skills will the differentiation of applying knowledge come in. So, while B school may have taught you how to fish in the past, it’s time to look for one that can teach you how to sustain the fish in the pond and keep the planet breathing. Therefore the advice is students must look for these differentiating factors among B-schools in the considerations list and pick one that is meaningful which grooms them to meet the challenges of the future.