Ventures across the sectors and industries quickly adapt to drastic and coincide with global economic changes for survival. Therefore, it leads many to question the longevity in the strategies, business models, and relationships with the various stakeholders.
Survival has been a top priority for the people in this pandemic, and various executives around the world have started reassessment of their expectations. While survival is enough, these businesses should aim to thrive during the global recession.
Business schools play an essential role in creating some of the great and forward-thinking leaders. However, the world is continually evolving and have seen drastic changes in 2020. Similarly, the requirements of consumers, employees, and businesses have also been through drastic changes.
We are shortlisting five skillets for the MBAs that should be taught to future business leaders to tackle challenges, promote innovation, and bring people together during tough times.
Sustainable Mindset:
Our generation faces the prominent issue of sustainability every day. According to one of the research published by the United Nations Global Compact (UNGC) and Russell Reynolds Associates approx 4% of the role specifications for non-executive and executive demands sustainability mindsets or experience. However, The recent pandemic has changed everything around the business houses. The gravity of the situation can be understood that business houses’ models have been changed and are no longer be affected by the ecosystem fragility issues.
It is stated that primary future professions are the ones that respond to the future societal challenges, for example, financing green finance, impact investing, energy transition, and socially responsible investment. People feel proud to implement green labels that are adapting to the climate changes. Adding green to the lifestyle is like an asset to be maintained for upcoming years. As a result, the forthcoming years will see remarkable goals on business houses for keeping the business at the services of the people, planet, and real economy.
Digital Proficiency:
Many MBA recruiters are relying on management graduates to promote the technical advancements at their workplace. About 26% of the employers feel that management graduates use augmented reality, AI, and also big data at their best. The digital transformation is remarkable and will continue taking giant leaps at the best of their abilities.
Suppose business schools are looking forward to keeping up with innovations in their curriculum. They need to provide their students with the right tools for implementing the same. This type of experiential learning will help them grab a top job and allow them to create a transformational and long-lasting impact.
Emotional Intelligence:
Lockdowns during the Coronavirus pandemic have forced people across the globe to work remotely and create their new work-life balance. Some of the employees have enjoyed the new set up while struggling with the changes in their routine.
Managers are being trained well to help their colleagues with mental health circumstances. It will allow them to feel the connection and move ahead by providing full support to their staff. Many mental health experts advocate that emotional intelligence should be implemented in the executive skill sets.
For employers, the suggestions are pouring down to keep a check on employees’ mental health. Duty of care should be implemented to stir the organization with positive vibes.
Global Perspective:
Online is the new medium that has overpassed every other means in the past few years. Nowadays, the various business activities ranging from negotiations to events to acquisitions have moved online. Therefore, it shows the real power of connecting people with technology and highlights that the businesses should be well set to become international.
This is why many business school candidates seek degrees that can allow them to nurture and gain cultural perspective and sensitivity to reach out globally and effectively oversee the business opportunities across the borders.
Flexibility:
Many people have speculated about workplace situations in the future. According to the experts returning to work will depend significantly based upon individual cases. However, a flexible mindset will be required in the coming years to promote the employees and mark their contribution to the company.
Working remotely will be an option. Based upon the type of work the company is into, it can be practiced by the employees. They can exercise the option if they are willing and can leave it if they have any issues.
