Future of Management Education: The world is expanding at such a rapid pace that even diviner finds it difficult to predict the future. But, we know one thing for certain – change is inevitable. We are facing nowadays a daunt oddity of high unemployment. Universities have dawdled by not adapting to today’s needs and are continuing to impart outworn skills.
Business schools need to embed something in digitalization in every subject that is taught. Technology as your first and best option for accuracy, impact, and lower costs, IoT, AI, Robotics have proven to help humans become more productive and effective.
The buzzword in education today is personalized learning. But, the truth is that personalized learning not allows students to pick and choose what they want to study. The answer is in the style of teaching. MakerMatch, the software can identify learning style preferences – video, audio, logic, or memory. The professor can use this to create a variety of learning materials for students to choose from.
Today Integrative Learning will surely give way to the granary approach. The value is little in learning Marketing, Finance, or Economics separately but the focus needs to be on combining concepts from different academic disciplines. Inter-disciplinary subjects like Value Creation, New Business Models, Business Ethics, and Problem Solving can equip students with the skills to flourish in our changing world, where single traditional disciplines are seen as ‘of the past’.
So it is for sure that Management education is not going to die. It will modify itself to be in-tune like all great things with the talent requirements of the 21st century.