The unprecedented mark that COVID has left on the global economy, has created uncertainty about when the countries will come back to equilibrium. With so many people facing jobless situations, it becomes imperative to ponder about the future of professional courses undertaken by Indian students.
However, many companies are finding out ways to build upon concrete strategies to ease the situation and help the company and nation overcome many hurdles created by COVID-19. This calls for efficacious efforts from employees who have attained unique skills from the MBA colleges. Moreover, recovery post-COVID will lead to a spurt in demand for MBA professionals, and skills such as leadership, innovation, etc. would be the market drivers in business management.
The MBA program offers multifarious options via its curriculum and practical training and facilitates students to be industry-ready. Some of the top MBA colleges in Delhi, provide a comprehensive understanding of Business, imparts valuable knowledge which further paves way for the students to be industry leaders and contributes to not only secure career but also uplifting the economy up to a great extent.
COVID also calls for taking the right decision on the part of future students to understand the dynamism persisting in the environment, plan their future and then decide about the course of action to be taken. The new Paradigm requires not only an understanding of the current picture but also an understanding of the changing needs of recruiters five years down the line. With Artificial Intelligence and Machine learning gradually taking over, these have to be blended with the MBA curriculum to produce future managers.
Not ignoring the new mode of teaching as adopted by the whole world i.e. virtual mode, has turned out to be a savior in times of adversity. Education is still continuing which shows the vitality of this sector. Education has the power to convert the economy from developing to develop one. Furthermore, the internet as the ‘power booster of knowledge’, has the potential to expedite the learning of even a five-year-old child who has also adopted the new ways of teaching. MBA students have much more education and understanding and are the hope of the nation. With access to many online courses, free resources to unlimited learning prove the ability of the nation for providing unhindered knowledge and information.
MBA course is no less than an investment which brings short term benefits as knowledge, instilling confidence, better communication and understanding of business and its functions such as marketing, finance, etc. and long term benefits including scope for entrepreneurship which is much needed for nations especially when government provides a boost to startups by way of subsidies, tax heavens, etc., other long term benefits are good compensation packages, raised standard of living, secured future, etc. These all manifest sufficient reasons to undertake an MBA course. Sound understanding and learnings undertaken while pursuing MBA, will help any nation to overcome the obstructions such as COVID smoothly by utilizing the expertise attained by pursuing the mentioned course and experience gained based on the course.
A study in November 2020 showed that the demand for a good Indian MBA is on the rise due to COVID-19. Many B schools in India have partnered with prestigious foreign institutions to provide a global curriculum at affordable rates. Indian B-schools have also introduced new courses like Organising in Times of Crisis, Crisis Management, Building Resilient Organisations, Risk Management, Leadership during Crisis, Crisis Communication, etc., which are sensitizing students to the real world of business. (Anand, 2020).
There is a need for specialization like Design, Research, and Development, social management, health care management, mental health management, which can be beneficial and helpful for MBA Graduates. COVID-19 has taught the value of the adage “shift is the only constant.” (Gaur, 2020). To recapitulate, there is no doubt that businesses are struggling and the economy has slowed down at the moment. An MBA student would be able to perform well in the job market, give a better insight into the business system and facilitate to establish a strong network of all the stakeholders such as peers, mentors, academicians, and industry support, while the economy gets back on its feet.
Ms. Anjali Vij
Assistant Professor, RDIAS
