By Mayank Dhaundiyal
The Master of Business Administration (MBA) continues to stand out as one of the top choices for postgraduate education, consistently outperforming many other master’s degrees across various metrics. The Graduate Management Admission Council’s (GMAC) Corporate Recruiters Survey reveals that employers highly value the skills and leadership qualities instilled by MBA programmes, making MBA graduates more sought-after in the job market.
Consequently, the ‘Masters in Business Administration’ title may have remained the same, but the content and delivery have undergone a huge transformation. MBA programmes are evolving to incorporate experiential learning opportunities and courses that foster creativity, technical know-how, and emotional intelligence. New-age MBA programmes are pivoting towards a more practical, skills-based curriculum emphasising digital literacy, entrepreneurial skills, global awareness, leadership, and adaptability. This includes courses in emerging technologies, data analytics, digital marketing, and e-commerce, aiming to equip students with the right skills to navigate and harness the digital landscape effectively. The qualification demands have also evolved and moved beyond the conventional specialisations of finance, marketing, and operations to offer new-world specialisations such as business analytics, artificial intelligence, fintech, sports management, and more.
The new-age MBA programmes are also ensuring that fresh graduates are fluent in global diversity and international norms. This involves gaining a deeper understanding of the nuances of cultural diversity, global branding, and the differences in institutions, norms, and legal frameworks across countries. Additionally, new-age MBA programmes are increasingly emphasising soft skills like leadership, communication, people management, and teamwork. Even with the relentless march of technology, these skills are considered irreplaceable and crucial for effectively navigating through the organisational maze and leading in a digital and globalised world. These skills are vital for effective leadership and decision-making in a diverse but highly connected global business environment.
Upskilling and reskilling have become essential in the current business climate, where rapid technological changes due to the advent of AI and ML are leading to evolving job roles. Upskilling refers to enhancing existing skills, while reskilling involves learning new skills, and both of these processes are crucial for adapting to technological advancements, future-proofing skills, and staying abreast of industry trends.
There has also been a rise in the adoption of online and hybrid MBA programmes. Upon their initial introduction, online degree programmes were met with some scepticism regarding their ability to effectively deliver the intended learning outcomes and equip students with the necessary skills. This scepticism has been dispelled as a result of the swift progress in technology and the adjustments made by institutions of higher education towards content delivery. Today, a large number of business schools offer online courses and degrees, and many employers consider online business degrees to be as good as traditional programmes.
As the corporate landscape continues to evolve, the MBA curriculum of tomorrow must take a global approach, with a shift in focus from traditional analytical and discipline-based learning to a more holistic approach that emphasises adaptability, ambiguity tolerance, digital literacy, and global awareness. There is a need to develop self-awareness, practical skills, and a deeper understanding of organisational dynamics, as well as cultivate the ability to work with people across ages and cultures. MBA programmes will need to keep pace to remain relevant in empowering professionals to lead, innovate, and thrive in the modern digital age.
The author is dean ofJindal Global Business School, OP Jindal Global University. Views are personal.