Indeed Management Education India is in the cusp of revolutionizing and likely to change a lot in near future because of the sole reason that since industry keeps on changing its overall behaviour, pattern and circumstances based on global compulsions and boundaries hence industry will be demanding management graduates who can deliver from the word “Go”.
Why industry demands keep on changing? Simple as Industry has to survive based on the ever demanding consumers hence, Industry also needs management graduates who can adapt in the newer environment at a speed which industry runs. Hence, the future of management education will have to change to address industry demands.
The Industry is not able to find present MBA pass outs as industry fit and they equally lose on employability factors. Why so? It is a fact that management education in India continues to be taught with a contemporary pedagogy barring with some exceptions and industry finds it too bookish and not practical. That is the reason the core employability factors like body language, positivity, passion, communication, will power, attitude keeps on lacking in an MBA pass out and that directly reflects on the management education. It is a bitter truth that MBA institutes cannot teach or dwell on these topics on a student who has already graduated and is an adult with some mindset. Hence faculty at MBA Institute is in dilemma on how to teach or discuss these subjects which are beyond textbooks. Faculty is absolutely right because these employability factors cannot be taught or developed overnight. This is a sort of a DNA factor which can be adopted and adapted in your school days but on the contrary, industry demands these factors with the top of mind hence the future if management education is likely to adopt these factors in a different way. That is the reason business ethics as a chapter is being given credits from MBA Programs.
Another crucial factor is that industry demands MBA Aspirants to be industry fit and in this regard, it is understood that any MBA pass out will have that kind of a professional personality that he or she will fit in a specific department of the company.
Hence, in future management education in India is likely to churn out those kinds of candidates who are industry fit and for that matter, the duration of the internship is likely to be enhanced.
The future of MBA education would be completely IT enabled and IT backed, for that matter management graduates will be looking forward to work on certain issues based on analytics which will give them ideas and reasoning as to why they should take the decision which can be positive and not negative. Business analytics backed education will be in great demand because all those companies who are in dark at present because of ever-changing demands of consumers and shifting habits of consumers from one brand to the other brand can create havoc for the company. Hence, decisions backed up by analytics can give the right direction to the management. Therefore, future management education will be having pedagogy which will adopt these factors. The future of MBA Education will also be dependent on analytics of the industry as to how they would be surging ahead in future brand wise and image wise and perception wise because entire education will be linked for different domains of the industry like it will be different for FMCGs, banking and finance, insurance companies, HR, ITS companies, automotive companies, automobiles, health care, hospitality companies and so on and so forth.
The so-called vanilla MBA or plain MBA might shift to sector-specific only because an industry is expecting from MBA pass out to have in-depth knowledge of sector-specific rather than being the jack of all trades. Hence in this context specializations with sector-specific areas like HR, Financial Management, Logistics, and Supply chain management, Marketing and sales or even communication are likely to be the areas which industry would be demanding and management institutes will have to change the overall curriculum.
Futuristic MBA might have one year of MBA more because of the time constraint and for that matter, executive MBA domain might die because nobody can afford to leave the job and do executive MBA as a residential program and in absence of help for placements executives might not spend time for programs.
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On the other hand certificate programs may have more liking and changes in the near future because that will be enough for working executives to upscale their skills and look forward to green pastures.
In future part-time MBA can emerge as a stronger phenomenon among working executives because of the sheer factor that they will not be losing the jobs.
MBA Institutes will have to change pedagogy and curriculum to adopt newer areas of concerns for the industry rather a management education is likely to be industry driven. Both theory and practices will go together in this regard possibly in future management education industry might have more interference in the academics because the stand-alone theory may not be working anymore now.
Future management education will have to have an edge over curriculum for a graduate program because if the MBA Institutes cannot get better packages for the students as compared to university graduates then it can be a death knell for the institutes.
The most importantly MBA education in India is likely to be linked with industry’s demands almost cent percent until or unless industry is not finding any MBA pass out to have employability factors and industry fit, this MBA passout may not be selected. Hence, the future is bright for MBA Education but needs a lot of riders.
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I’m Jimish Shah, the person who started SkyZ Infotech, a Powerful and Result-Driven Most Reliable Digital Partner. I’m a professional blogger, digital marketer, and content marketer also with over 8 years of experience. My focus is on providing the most researched information to new startups, entrepreneurs, freelancers, and bloggers. My objective is to educate the youth of today on a broad range of subjects.