Could 2020 Be The Best Year To Enroll For An MBA Degree?
The year 2020, arguably, shall also be revered in the global business history as a watershed year that triggered ‘Rapid digitalization’ and ‘business transformation’.
The year 2020 shall be remembered in the annals of human history as a year of disruption and crisis on several fronts that caused pain and suffering to mankind inflicted by the dreadful COVID-19 global pandemic. However, 2020 will also be remembered to have witnessed an undying human resilience and resolve that has never failed to turn every major crisis into opportunity. The year 2020, arguably, shall also be revered in the global business history as a watershed year that triggered ‘Rapid digitalization’ and ‘business transformation’ – from strategy to shop floor; from workforce engagement to customer service delivery – leading to the advent of new world order.
Therefore, naturally, during and in the post-pandemic period, the existing economic models, industry structures, corporate configurations and workforce engagement models may not suffice to create & deliver value in a sustained manner; thus giving way to ingenious business & revenue models; nimble & leaner value chains; and creative & fluid workforce engagement models. Further, popular studies in the past few years have indicated that more than a third of workforce globally would move into the Gig Economy by 2020-21; and the current crisis has only expedited that transition. All this is bound to create umpteen new avenues of employment & entrepreneurship, albeit more demanding ones in terms of new-age skills. Hence the inevitability of ‘up-skilling’ and ‘radical re-skilling’ of workforce irrespective the stage of their career, corporate positions they occupy and the degree of impact the current pandemic had on their career choices need no exaggeration. Harvard Business Review (Diane Mulcahy, Oct 2019) made a case acknowledging continuous expansion of Gig economy and urged that the B-schools shall prepare students for it.
Historically, management programs (MBA, MiM, PGDM, PGPM…..etc) have proven to have created high skilled ‘problem solvers’ for businesses in every era (from Industrial to Knowledge to Digital era). A zillion studies and surveys globally over a century corroborate the fact that MBA programs (pursued at right B-schools) enable people develop a more scientific and structured approach to problem-solving; develop global perspectives; cultivate clear, critical and creative thinking; nurture entrepreneurial spirit and business acumen; ability to lead teams & initiatives operating in a diverse environment on a global landscape; build career resilience by deepening business connects & corporate network – in short, MBA programs have proven to have up-scaled people for high skilled jobs thereby enhancing their incomes and employability time and again.
Therefore, the argument in favour of enrolling for an MBA program in the year 2020 enjoys merit. The current crisis period, arguably, is the most favourable time to identify and enroll into a good MBA program such that as the business world completes its transition into the new world order in the next few years, the MBA students enrolled in 2020 shall enter the workforce sufficiently up-skilled with renewed vigour, better clarity, greater creativity, and well-networked to embrace the best of the opportunities. It would be no exaggeration to say that enrolling into a suitable MBA program during these crisis years could be a game-changing investment for people to ‘beat the career inertia’ and ‘build resilience’ in their career and life.
Further, formalization of the New Education Policy (NEP) 2020, particularly in the Indian context, promises a lot of flexibility and autonomy in terms of program design, delivery and administration, leading to the introduction of a plethora of high quality ‘segmented’ (narrowly specialized) yet ‘integrated’ (industry-aligned) MBA programs that are affordable, contextual and modular. The trend has already set among the top business schools in India thus strengthening the case for enrolment into an MBA program in 2020
Five reasons to enroll for MBA in 2020
To up-skill and reskill to stay relevant for more demanding high-skilled jobs in future
Greater access to opportunities in the post-pandemic world.
Enable career switching and beat career inertia
Provides sufficient time, company (professors, researchers and fellow students), context (Business and Entrepreneurial) and exposure to contemplate on career choices
Greater choice in program structure, delivery model, duration and cost
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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