“Why Investing in Business Management Courses is Essential in Today’s World”
| Dr. Smitha Shine - 01 Jun 2023

In today’s fast-paced world technical skills alone are no longer sufficient for success. It is about holistic job skills. Employers are looking for people having creative problem-solving skills, a collaborative mindset, and the ability to deal with crises. They are finding not only the right people but people with the right skills and mindset. How can one acquire these skill sets? Indeed, it is through management education like MBA. MBA graduates are in high demand in the corporate world and they are often sought after for their expertise in areas such as Finance, Human Resources, Marketing& Operations. According to statistics in 2023, employability among Indian MBA graduates will be more than 60% when compared to 2021 which was 41%. The demand for MBA graduates is expected to remain robust over the next decade and beyond.

MBA course explores the principles and practices of managing an organization. It teaches how to plan, organize, lead, and control resources to achieve organizational objectives effectively and efficiently. The main purpose of the MBA program is to develop the knowledge, skills, and attitudes required to lead and manage an organization and develop strategies to achieve success. In today's complex and dynamic business environment, organizations require managers who can think strategically, adapt to change, and lead teams effectively. A manager must possess a wide range of skills, including communication, problem-solving, decision-making, and leadership. Without these skills, a manager may struggle to succeed in their role, and the organization may suffer as a result. Engineering, science, and mathematics are all technical fields that require a high level of knowledge and skill. However, these fields do not typically provide students with the necessary management skills to lead and manage organizations effectively. As a result, many engineers, scientists, and mathematicians struggle to transition from technical roles to managerial positions. With rapidly changing markets and technological advancements, it is becoming increasingly important to possess management skills in addition to technical knowledge. That is why management education becomes necessary for students in all streams. Because after doing MBA, students will be better equipped to take on leadership roles and manage organizations effectively. Many companies are encouraging their employees to pursue an MBA while working. Employees who have the MBA qualification can perform well. Furthermore, it will help bridge the gap between technical and non-technical employees within organizations. Technical employees, such as engineers and scientists, often struggle with communication and leadership skills, which can lead to a disconnect between technical teams and non-technical teams. By providing technical employees with management education, they will be better equipped to communicate with non-technical teams and manage cross-functional projects effectively.

Today an MBA degree is valuable in India because of the country's growing entrepreneurial culture and rapid adaptation to technology. According to the Corporate Recruiter Survey of 2022, 97% of employers hired MBA graduates in 2021. It was high when compared to 80% in the year  2020. Management education will help students to develop a broader perspective on the role of organizations in society. Students will learn about the importance of social responsibility, ethical leadership, and sustainable business practices. They will also learn how to manage resources effectively and efficiently, which is critical for organizations that operate in a resource-constrained world. Apart from this, it will help students develop soft skills that are essential for success in any field. Soft skills, such as communication, teamwork, and problem-solving, are highly valued by employers, and they are often the deciding factor in hiring decisions. Students will be better prepared for success in the workplace, by learning these skills early in their careers. In addition,  it will also benefit organizations and society as a whole. Organizations will benefit from having employees who possess both technical and managerial skills, as they will be better equipped to manage projects, lead teams, and make strategic decisions. Society will benefit from organizations that operate ethically, responsibly, and sustainably, as this will lead to a better world for all.



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