How the old-school MBA and business school experience are undergoing disruption due to technology
If there’s one term we hear a lot these days, it is “disrupt.” The advent of Uber has disrupted the taxi business, just the way Tesla has disrupted the auto industry, and Netflix, the old-style TV.
Ironically, one segment
that hasn’t drastically witnessed much disruption is business education. The
traditional model, comprising of class discussion, written case studies, and
the study of basic management skills like accounting and marketing remains
strongly entrenched. In fact, this old-fashioned MBA model actually dates back
to 1908, in times when Harvard Business School was instituted. Surely, the
aspirants who pursue MBA or for that matter, post graduate diploma coursesin India, from some of the top-ranking institutes, may need a different set
of skills, which are not the same as the earlier days. Quite clearly, an
education model that has remained unchanged for more than a century must
certainly be “ripe for disruption”!
In the last two decades,
the internet and digital technology have revolutionized potentially every
sector, and the pace of transformation is only getting faster. This changed
business environment demands a new type of leader; and naturally, these new
leaders require an updated education that prepares them with the relevant
skills for the 21st century.
Okay, so the question that
arises is, what does an MBA or any other post graduate diploma course personalized
for the age of digital disruption look like?
We all know, the growing
digitization is driving a change in management methodologies across the board. Institutes
offering an MBA, post graduate diploma courses, and post PG diplomain business management are slowly factoring in logical and rules-based
decision making, thereby enabling minimal or zero scope for discretion.
Moreover, All India Management Association (AIMA) has initiated the task of
bringing Indian organizations in alignment with the up-to-date management
know-how needed to sustain technological disruption. What’s even more
interesting is that AIMA has updated the education curriculum suiting the
present economy and it allies world-renowned organizations like Moody’s
Analytics, Purdue University, Wiley, and the World Bank.
When we strike a
comparison, what we can realize is, the traditional MBA aimed to produce
well-groomed executives with a reputable grasp of key disciplines like
strategy, marketing, finance, HR, and so on. Today, in a world that thrives on
and around the internet, not having a similar grasp of modern-day subjects is
downright dangerous. Having realized the importance of this, B-schools offering
both an MBA and post graduate diploma courses in India have begun
equipping leaders to direct and manage specialist areas based on theoretical
understanding and practical experience.
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