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New Trends In Management Education In 2020

Industries are initiating collaborations with educational institutes to prepare courses in tune with the current market demands, thus increasing students' employability.

In the recent past, the fast-paced transitional environment has enabled new domains in the education sector. Technology is playing a powerful teaching tool and will continue to do so. Enhanced digital transformation has empowered many avenues of collaborative and interactive learning by diminishing international boundaries. However, the unprecedented pandemic in 2020 compelled educational institutes worldwide to even more extensively leverage digital technologies - from cloud to AI and IoT - to increase their impact and deliver better learner outcomes. It will continue to dominate even in the near future.    

Besides Engineering and Medical science, Humanities and Commerce studies have also rightly embraced global technological advances such as Artificial intelligence, Digital marketing, and Robotics, which have indeed become core business tools. Graduates with a firm understanding of these technological trends are in high demand. Business analytics in all domains, be it HR, Finance, or Economics, have been offered and highly appreciated as an essential business tool in today's world. Innovative and out-of-the-box thinking has prompted students to opt for various combinations of subjects like economics and psychology with strategy, mathematics, data analytics, or marketing and not to confine within the boundaries of their core specializations. Educational institutes are now flexible with providing such combinations to equip students with varied skills and increase employability. The Choice-based Credit System vis-a-vis fixed specializations in one vertical gives a much-needed impetus to attain technical and management education, which is indeed the need of an hour. 

Emphasis is more on experiential- learning through live projects, which promotes both skill and personal growth among students. Finance Lab at several universities is equipping students to decipher financial data and explore the relevant information. It prepares students to surpass the industry's expectations by exposing them to the real-time markets apart from the textbook studies and the basic constructs. Transformative technology such as augmented, virtual, or mixed reality has enabled powerful and immersive teaching that is more interesting and engaging. Immersive virtual reality as teaching pedagogy enables recreation of a real-world environment that helps facilitate complex learning which the traditional learning methods cannot. The use of technology-aided education as a pedagogical method is not a modern phenomenon. Still, the pandemic 2020 has forced educational institutes to explore it ahead of their designated timeline, and of course, it is for the educators' and students' benefit. It will undoubtedly see more enhancements in the future. 

Online learning programs offered by several renowned universities also support in-depth learning parallel to the college curriculum. Industries are initiating collaborations with educational institutes to prepare courses in tune with the current market demands, thus increasing students' employability. The Indian government is taking numerous measures to enhance digital reforms, and online learning is no exception. Few government-backed organizations have started offering online education at a much lower regular fee. Educational Institutes have also ventured into MOOC ((Massive Open Online Course), a web-based platform to impart online education to unlimited participants. The learners self-organize their participation according to learning goals, prior knowledge, skills, and shared interests. 

Nevertheless, the drift towards digital platforms has opened multiple possibilities of inter-linking universities and creating a shared learning ecosystem by combining degree offerings, a much-needed enabler for specialized education space. 

Lastly, the intensification of digitalization in the education sector, which became compulsory in 2020, has revolutionized the already underway process. Indeed, with the shift to an online and blended mode of pedagogy, the future will undoubtedly unfold more new forms of blended education enabled with technological strengths that will boost the prospects of digital teaching and fundamentally transform the education system's structure.

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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