Is it time to rethink about MBA programme curriculums?
We live in an era of disruption and rethinking. A growing number of institutions are going obsolete due to their inability to adapt with the changing times. It goes without saying that management institutes are also facing the heat. With the demand for MBA falling sharply, skill and tech gap, and most importantly lack of innovation, business schools are in dire need of reflection and rethinking.
While the demand for MBA is falling, B-schools are still the most-sought after destination for MNCs recruiting talent for key business areas. For decades, these companies were offering on-job training to fresh MBA grads, which would often last for months. However, due to increased competition and rapid tech changes, now companies look for job-ready employees.
However, if one goes through the MBA curriculum offered by most B-Schools, we may find that their MBA programmes will have subjects like corporate strategy and organizational behavior. While these subjects are necessary for preparing the leaders of tomorrow, but the moot question is whether these subjects can create leaders capable of leading businesses of tomorrow.
Therefore, decision-makers and everyone responsible for educational reforms must take charge and design MBA curriculums for a rapidly changing and technologically-driven era. The pace of disruption has never been faster, so MBA schools have to continuously innovate and rethink their MBA curriculum. The focus should be on anticipating future market requirements and skills needed by businesses. This is to ensure that MBA grads aren’t just job-ready, but also capable of leading businesses.
Moreover, business schools should move beyond the usual instructional videos. They can use simulation-based training courses and virtual reality to create personalized training for each student. Of course, courses on leadership and effective communication can’t be replaced by technology, but there are a whole lot of other skills, which can be developed by making pedagogical changes in the system.
In order to remain relevant with the changing times, many schools have already started adapting and modifying their curricula. They are incorporating programmes on the latest technologies and skill-based courses for their students. But, it is just the beginning. Our vision for MBA curricula should be continued innovation, disruption and rethinking.