The business and academic institutions were taken aback when COVID-19 hit the world. With work-from-home becoming the new normal, both corporate and academic institutions have struggled to adapt to shifting lifestyles and modes of delivery. As a result, business schools transitioned their students into an educational process to deal with a hybridized environment, preparing them for a corporate world that has been similarly changing uncontrollably.
Developing a heutagogical framework is shaping the future of what an MBA looks like.
The Future of the MBA: Business Schools are Stepping up
Now more than ever, professionals wanting to pursue higher education, have been looking into business schools and particularly MBA programs that will not only continue to develop their competencies as future-ready managers but also prepare them for the turbulences that could occur at any point.
Business schools like EMLV have made a hybridized environment a part of their DNA. By using a student-centric method to prepare them to absorb knowledge and mature them for the future corporate world, the school was able to improve students’ ability to deal with the intricacies of a hybridized corporate environment they will face. Their MBA programme was delivered in such a way that students were not only academically prepared for the hybridized corporate environment but also had the structural knowledge to deal with the complexity of a mixed workplace. As a result, more flexibility was required and implemented to reflect a syllabus that is both up-to-date and most importantly loyal to the changes reflected in the global business world.
MBA Grads and the Ability to Succeed in Any Given Field
MBA education required some redesigning in the delivery approach, and this also translated to preparing students for the changes in recruiters’ needs and requirements. For instance, body language was equated with digital dexterity, and solving problems offline was replaced by solving problems both offline and online to align the heterogeneous needs of the corporate world.
This is why MBA graduates have two distinct advantages in a post-covid business and economy:
- Development of skills and knowledge of the corporate world. MBA grads refine their knowledge of business, management, leadership, communication, and problem-solving techniques. This form of business acumen may be applied to a variety of occupations rather than being restricted to a single area, which is advantageous in today’s interconnected business world that has been facing various pandemic consequences.
- Ability to succeed in a variety of occupations. During the pandemic, many people lost their jobs or changed careers. An MBA in today’s world enables graduates to excel in a varied career path, even if they have prior business experience, with unrivaled adaptability. This will allow them to move across multiple disciplines and expand their professional network at any time in their careers.
More Diversity in MBA Programs as New Jobs Will Be Created
According to several admissions advisors and MBA administrators, there will be a boost in the employment market which we began witnessing during last year’s recovery. Salaries have also risen again, as have signing bonuses, which are the icing on the cake of any offer package. This is based on anecdotal evidence from multiple top MBA programs.
One industry that stands out is tech. MBA hiring in the tech sector is expected to expand significantly from pre-pandemic levels. 96 percent of responding tech businesses anticipated hiring MBAs in 2021, compared to 86 percent in pre-pandemic 2020. In fact, technology companies are placing a high value on leaders who are not only technically skilled, but also have strong strategic, interpersonal, communication, and decision-making skills, as well as an understanding of the importance of diversity and inclusion, and sustainability in their organizations.
Shouldn’t a graduate business degree be a part of your future career plan?