MBA is one of the most demanding professions. As seen in 2017 a great hike in MBA graduates recruitment. The trend seems to continue in 2018 as well. Trends do change with time. Some are trendsetters and some are trend followers. No matter what the field change is the rule of life. For convenience, we can sum the business world by the acronym CUVA- complex, uncertain, volatile, and ambiguous. Technological innovation, political shifts, and developing economies are all impacting how and where the business is done.
- Soft skills to emerge as prime focus
Technology is emerging rapidly such that automation and innovation has changed the workforce. It’s high time to get prepared for the jobs that do not came into existence .People are behind gadgets, love to whatsapp rather than talking face to face. One will say that jobs may get decreased in management sector, robots might overcome humans. No it is not so.
Emotions is a key element which makes humans different from robots. At the end management is a field which will work on emotions and the internal sense. No robot can replace humans. If robots gonna run business than every company would be same. Training in soft skills, such as negotiation, leadership, teamwork and problem solving therefore remains a top priority for business schools.
“Students are really tech savvy, and this is important, but they still definitely need those soft skills, because any business until now has involved a human being. There is always a human, or a board, that takes the decision.”
- Application Process going Digital
A major change one will be able to see is in application process. For MBA application one has to write essays. But now requirements are changed, students will have choice between written essay or video essay. It’s not ganna be easy at all, no one is easier than other.
Instagramming is a recent development. One can submit six images (infographics, pictures or charts), along with six captions to promote their candidacy to the admissions team.
- Online MBA
Gone are the days of going college regularly or attend college in real. Technology has made it easy to be at your place and attend lectures virtually.
“Interactivity with online courses is higher than with classroom-based programs because you always have someone able to give feedback. There is no constraint of time zones—the world is your classroom.”
- Diversity brings a positive change
Gone are the days when men were the leading ones. Trend seems to change, recently 10 popular Universities were ranked for the most female population. Trend has changed from 3 women in a class of 50 to having an equal gender split today.
In fact financial performance seemed to improve of many companies with more leading women alongside men.
- Technology Brings a New Classroom
Technology has disrupted the business world, and is disrupting world of business education too. Techniques from online courses will be brought into the classroom.
Educational technology has been a big part of the transformation. Much, if not all of an MBA course can be uploaded online now. This includes the course materials, but also seminars, projects and tasks. Lectures can be watched and replayed – there’s no longer a need to copy a classmate’s notes. Gamification is also playing a more prominent part in education. Students can engage with business simulations, where each student plays a role in running a company for example, making learning increasingly interactive, but also more effective.
All this means that textbooks in the classroom are becoming a thing of the past. In class, professors and coaches dedicate quality time to their students, allowing students to become actors rather than passive learners.
- Specialization trend to continue
In recent years, specialized MBA degrees have grown in number and diversity. From entrepreneurship to sports management or any other. he needs and requirements of companies are changing. Some now prefer to train employees in a certain way and model them to the company culture. People need to be more specialized in certain aspects.
The demand for specialization comes from all sides. No particular sector could work without management. Trend is changing from old dominant specializations to fresh new specializations.
In coming era more trends are to come which will change the outlook of management from up to down. More is to come. Let’s see what evolution will time bring.