Future trends in management education

Higher education institutions havea significant role to play in moulding and developing the new era in management studies. With the huge improvement in IT infrastructure led by the 4G revolution, management studies have acquired a new dimension of being tech-driven. At the same time, the pandemic has highlighted the importance of making sustainability the most critical part of management education.

This new paradigm of technology-backed sustainable solutions opens new door to management education. Further, the National Education Policy (NEP) 2020 will certainly have a significant impact on management education. The policy aims to liberate the Indian education sector and invite the top 100 universities around the world to set up campuses in the country. India has shown outstanding growth from the introduction of new technologies to adapting the same in its ecosystem.

A few important aspects and trends to make management education future-ready in India are:

Diversification

Management education not just deals with business issues but one of its main objectives is to manage diversification. Students get good learning from their peers. When the students are from diverse backgrounds, they tend to accommodate and learn many new things.

Management programmes a combination of classroom lectures, case studies, role plays, live projects, simulations, and lead sessions with industry leaders to achieve this goal. The management program also provides students with the opportunity to develop their soft skills such as ability to communicate effectively, think critically and intellectually, and collaboratively, all of which become increasingly important signs as businesses and industries undergo continuous change.

Continuous upskilling of faculties across the domains

Knowledge and education are now not restricted to four walls of classroom. Even the role of teachers is not just to teach. They are the mentors and facilitators. The B-schools are adding industry-experienced faculties who have knowledge of current trends in the corporate sector.

They are trying to develop various skills in students like analytical skills, decision-making, finding right answers, flexibility, learning mindset, usage of artificial intelligence, strategic thinking, data literacy and data analytics etc., through case studies and projects in order to give them real-world experience and true picture of success and failure. These skills are being integrated in every domain; HR Analytics, Marketing Analytics, Supply Chain Analytics, Fintech and much more.

Technology Driven

21st century is not just the century of innovation but it is prime example of how humans are dependent on technology and how this technology has become integral part of their day-to-day routine. Management education too is deeply influenced by tech. The Covidpandemic made hybrid learning a norm. There is now greater realization that AI-based toolscan make learning more effective and interesting.

Gamification and Analysis

New-age pedagogy is making learning a lot more engaging and fun. Introduction of game-based learning helps students to gain knowledge quickly but also enhance involvement while learning. Ludic learning leads to developing skills in a fun manner.

Globalisation beyond the boundaries

The field of management is not limited to the boundaries of a nation. Markets are becoming borderless. Management institutes need to ensure that students are well-versed to adapt to diverse cultures and working practices. The exchange programme, immersion programme and foreign visit for students and faculties lead to better understanding for the same.

Experiential learning

To improve skill and enhance involvement among students, experiential learning plays an important and crucial role. This will make students industry-ready. When backed by technology like Augmented Reality, AR-VR learning becomes more immersive.

Furthermore, the inter-connectivity of concept learning with industry exposure has shown a spectacular increase in admission in vocational courses which is adding specialization to the field students want to focus on. Higher educational institutions have shown high flexibility in supporting the change and making students tech-savvy. The government is also extending support to the start-up culture, thereby promoting innovative thinkers, boosting economic growth, and empowering the youth to dream big and achieve success.

(The author is the Dean Academics Jaipuria School of Business, Ghaziabad)