Covid-19 has disrupted the world forever, including the way formal business education is imparted. In India, with longer nationwide lockdown and recent increase in coronavirus cases, the impact has been prolonged.
Consequently, B-Schools that could leverage technology, had visionary leadership to quickly build an eco-system of virtual learning, teaching, evaluation and community-building were less impacted. As the pandemic has not yet ended, it would be imprudent to evaluate the nature and magnitude of the impact.
COVID 19 crisis has forced the entire world to re-evaluate work, careers and life goals. In the post COVID era, apprehensions over career progression and job security along with more disposable time are pushing students as well as working professionals to think about how they want to pursue their goals. One of the big questions many young leaders are facing today is their pursuit of a master’s degree, specifically one in MBA.
MBA or Master of Business Administration is a 2-year fulltime degree that makes you savvy with all aspects of business and administration. This is an internationally recognized degree and the curriculum has been designed diligently to hone all the skills required for a great career in any sort of business. But the scope of MBA is not only limited to the business domain! As an MBA graduate, you will be welcomed with open arms and hearts to – government, public, private sector, and other prominent areas.
Many aspiring students might think that the scope and job opportunities for MBA post-COVID-19, might see a downfall but that is not the scenario at all. The present pandemic situation has shown us that besides world-class doctors, scientists, engineers, and lawyers; the world is also in need of MBA graduates. An MBA graduate knows multiple aspects of the business including Human Resource, Marketing, Sales, Finance, Analytics, Consulting and more. MBA Graduates are the best possible choice to run a business without the shadow of a doubt.
Businesses won’t stop in this pandemic as hundreds and thousands of lives are dependent on it. The scope of MBA post-COVID-19 will see an immediate boom as the HR professionals and recruiters are on a constant lookout for good MBA graduates. One of the best parts of doing an MBA is that you can directly land on a managerial role whereas other candidates who have not done MBA will take a considerable amount of time (in years) to reach such positions.
COVID-19 has adversely hit numerous sectors such as – automotive, banking; FMCG, IT, and transportation are to name a few. The IT sector has taken a strong hit as most of the clients are from the USA and they also have been badly affected due to coronavirus pandemic. As an aspiring MBA student, apart from management, decision-making, problem-solving, and communication skills, you will have to learn new skills to keep with the market. Learn virtual connectivity, networking, analytical, and team-playing skills as an addition to the aforementioned skills.
Why you should consider an MBA right now
Upgrade yourself: Demand for a fresh perspective and entrepreneurial vision in the times that follow might drive one for courses like PGDM and MBA. While one may be adept at their current jobs, now is the time to really self-reflect and upgrade one’s skills to suit the new normal. Especially the unavailability of jobs and suffering economy make opting for an MBA right now a better utilisation of time.
Learn the right business skills: As the crisis continues, it is becoming clearer that future roles will require new skills and innovative techniques for problem-solving. Essential skills like adaptability, ability to handle a VUCA world, digital agility and interpersonal skills are key and a good MBA or PGDM degree will focus on these. In the near future, this can give the MBA aspirants an edge over the others in the job market.
Booming sectors: In the post COVID era, an MBA with a passion for specific industries like pharmaceuticals, healthcare and consulting would have many opportunities to choose from
Virtual career fairs: These times have also presented with a remarkable future of recruiting through Virtual career fairs. Here, companies from across the globe get to interact with MBA students and offer them jobs. This can prove beneficial to both the recruiters and students as it cuts down the travelling logistics for the recruiters and widens the horizon of job opportunities for students. Therefore, MBA degree right now can prove to be a great support system for even those who want to work globally.
Be ready for an uptick in the economy: This is also being regarded as probably the best time for appearing for CAT, GMAT and other similar exams. By the time current batch MBA students pass out in 2022-23, the economy would be seeing an uptick. Armed with new skills and a fresh perspective, current MBA students would be at a big advantage.
MBA on digital platforms: Institutes have taken the initiative to provide virtual classes to facilitate teaching and ensure that students don’t lose valuable time. This is a breakthrough in the world of higher education, wherein despite the institutes being at home, one can still earn an MBA degree.
The pandemic is also pushing business schools to innovate and leverage resources in new ways. Many are investing heavily in technology to deliver experiences beyond classroom broadcasts. Whether it’s the ability to attract exceptional talent remotely or leverage expertise of influential alumni, now students not only gain a more diverse range of business expertise during their business school experience, but they also have access to insights on decision making during this crisis.
With MBA now being taught digitally, it has become even more convenient to apply for and earn a degree and new perspective into the business world without compromising on the quality of education or the experience.
An MBA could enable one to stand out in a crowded job market, give a better insight into the business realm and even help one to establish a strong network of peers, mentors, academicians and industry support, while the economy gets back on its feet.
Remember, an MBA degree has become a vital ingredient in the recipe for success. If you are an MBA graduate no one can stop you from climbing the ladders of accomplishment. You can become a world-class leader and with your leadership quality, you can become the reason behind the success of an organization.
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