The reality of today is that - a choice of whether to forge ahead with MBA studies in the current situation could be a complex judgment for students w
The reality of today is that – a choice of whether to forge ahead with MBA studies in the current situation could be a complex judgment for students whose lives have been upended by the pandemic.
But there is always a flip side to the coin!
Because MBA programs typically last two years, those that begin virtually due to the pandemic can slowly transition to in-person learning. Hence, aspirants who enrolled in traditional two-year MBA programs now should expect to ultimately experience an on-campus learning environment, even if they can’t do so right away.
Here are some of the questions we’ve tried to answer around the dilemmas of pursuing an MBA. Hope it helps!
Why should you go for an MBA even during a pandemic?
Many prospective MBA students desire an MBA degree because they believe it will facilitate a career change or increase their compensation. For students with this mindset who have been laid off or whose career prospects are stunted due to the pandemic – this could be a suitable time to pursue an MBA program.
Even if these students take virtual versions of an MBA program that are usually taught on campus, they can foster marketable skills while riding out the worst of the economic disruption caused by the pandemic.
Is there any future scope if I pursue an MBA during a pandemic?
MBA students taking admissions this year will graduate into a fully recovered economy, prepared to take full profit from the upturn.
Upcoming management aspirants like you will be the recipients of not merely the leadership development that an influential MBA program will render. You will also learn how to harness extensive datasets for decision making and how to leverage new digital technologies and gain requisite efficiencies in a business.
How will demand for MBA graduates be affected by the pandemic?
Today, corporations are looking for future leaders who can thrive during uncertain times. Almost every firm requires resilient candidates who can work under pressure.
MBA students from the current batch are poised to become some of the most resilient leaders of the future. They will develop more innovative and hearty businesses. They will be able to evaluate situations in the highest fashion.
What is the future scope for management professionals?
It is predicted witnessing the current scenario that healthcare, technology, and consulting firms will see a rise in the number of hires. An MBA could help you stand out in the crowded, upcoming job market.
Consulting firms will require MBA graduates to grapple with one of the critical challenges of the pandemic for businesses: digital transformation.
The MBA during such times will teach how digital business models work and give a helicopter view of an entire business. A digital-savvy MBA grad will be in high demand in the next few years.
That’s because the operational ability now rests on digital business infrastructure, as entire workforces work remotely, and international business trips have been replaced by virtual conference calls.
What are some of the new-age trends in Management?
In the 2021 business scenario, corporations are facing a more complex as well as competitive environment. Resultantly, the leader’s competencies or a manager who succeeds in the modern-day business world is changing.
Here are some of the new trends in leadership and management that learning initiatives will need to employ in 2021 and the following years to come, to better prepare current and future leaders for success.
- Flattening organization structures
- Striving for gender balance
- Fostering a blended approach to management and leadership development
- Remote and flexible working
- Artificial intelligence
Which are some of the in-demand specializations in an MBA?
With the growing demand for an MBA, colleges have provided multiple specializations that encourage students to offer a particular skill in the niche they are most interested in.
To ensure you’re aware of your options, here is a list of the most in-demand MBA specializations you can consider choosing in 2020-21.
- MBA in Business Analytics & Big Data
- MBA in Hospital & Healthcare Management
- MBA in International Business
- MBA in Marketing Management
- MBA in Finance
- MBA in Logistics Management
How to select the right MBA College during the pandemic?
In the new normal, businesses are reinventing themselves and encompassing new operating models. So, the questions arise: What kind of skills are expected for ‘the new normal? How should students prepare for their future?
Many students are assessing MBA programs based on the best profit they can get in the foreseeable future. The significant aspect to consider is which institute is equipped to respond to the swiftly shifting business landscape by arming students with knowledge and skills relevant to this new world.
- Course & a Curriculum that will help you prepare for an uncertain future
- Right faculty and pedagogy
- Prominent alumni, leadership, governance and the appropriate industry connections
What are the solid job prospects after pursuing an MBA in Human Resource Management?
Individuals with a PGDM specialization in human resource management will be qualified to work in most industries and environments, regardless of the sector. After all, it’s a field with steady projections for growth and substantial pay.
With a PGDM in Human Resource Management, you will be well-qualified for roles such as:
- HR Manager
- Talent Acquisition Director
- Training Coordinator
- Consultant, Learning & Development
- Senior Recruiter
- Employee Relations Manager
- Manager, Employee Experience & Communications
- Manager, Global Engagement & Culture
Is there any scope in pursuing MBA in Business Analytics considering the present situation?
Today, distinguished companies rely exceptionally on Big Data because their business decisions include a vast sum of money and consequent competition. Hence, data-driven corporations make a point to gather high-quality data and entirely rely on experts with degrees in big data analytics to help them get a hold of it.
According to online research, 163 zettabytes of data is predicted to be created by 2025. Consequently, there is going to be an extensive demand for data experts who can interpret and manage the vast volumes of information. So, those looking to advance their careers with an MBA in Big Data Analytics or Business Analytics are uniquely positioned for success.
How good is Sri Balaji University, Pune(SBUP) for MBA in International Business?
Balaji Institute of International Business(BIIB), Pune – a constituent institution of Sri Balaji University, Pune, is one of the best institutes to be at, especially when you look at the returns you get with management specializations in International Business.
As a part of Sri Balaji University, Pune, BIIB ranks among the top 2 B-Schools in Maharashtra and the top 6 Private B-Schools in India. There are several seminars, guest lectures, and workshops held to give the students excellent industry exposure. Intensive training through regular classes, presentations, live projects, management games and internships makes students ready for the disciplined work-life that all corporates demand these days. As far as the placements are concerned, BIIB has a standard recruitment process. More than 250+ recruiters visit the campus during the recruitment season.
Which learning aspects are essential in an MBA program?
Along with an excellent academic curriculum and exceptional communication skills, the management colleges must offer specific program certifications to specialize in high demand skills in the IT industry and to kick-start one’s career. Classroom-based learning is an integral part of the MBA program, where theoretical knowledge forms the basis of management education. While assignments and tests assess learning to the student managers, case analysis and presentations can simulate real-life corporate situations in the classroom to give the aspiring managers a taste of life ahead.
How does an MBA during COVID times look like?
As MBA programs become more accessible in digital mode, there is also the challenge of providing experiential learning rather than practical learning, and colleges will have to find ways to do so. Embedding sustainability issues into management teaching equip students to face the day’s challenges and understand that purpose and social responsibility are necessary to maximize profits.
Management programs are being frequently examined for their capacity to propagate learning by doing, and they will have to keep altering the way they assess students in their courses, apart from exams and grading/ranking during the program.
What are some of the new-age management skills that can be acquired through an MBA education?
Management skills can be anything that enables you to manage others efficiently. While some skills vary based on your industry, there are several standards across almost every work environment.
- Technologically Progressive
- Design Thinking Skills
- Adaptive Learning
- Virtual Collaboration
How vital is experiential learning in an MBA education?
Experiential learning in an MBA program leverages the best and facilitates academic institutions to deliver new and more engaging learning methods, thereby creating a novel and futuristic learning environment.
Some of the results of Experiential Learning:
- Enhanced student engagement
- Progressed faculty productivity
- Innovations with new learning models
- Developed online learning
- Augmenting alumni outreach and excellent career opportunities
What are the career opportunities post pursuing MBA in Finance?
MBA in Finance imparts hands-on, real-world training in Foreign Exchange Trading and Commodities and Financial Securities. It furnishes students to compete for the most exceptional jobs and entrepreneurial opportunities globally, such as:
- Stockbroker/ Trader
- Financial Manager
- External Auditor
- Actuary/Risk Management
- Financial Analyst