An MBA promises brighter job prospects, higher salary, and better opportunities to unleash one’s talent. But promises come with expectations. With the fourth industrial revolution underway, the b-schools are rapidly evolving their curriculum and pedagogy to meet industry expectations. The focus is on preparing students for business that can be driven and disseminated (to re-evolve) with technology and data.
The 5R’s that industry expects from MBA pass outs are:
The industry today wants MBA pass outs to be ‘ready’ enough to be productive from day one. They want them to be aware of the industry best-practices. Also, they should be able to quickly grasp the functional and organizational structure of the company. They should readily fit into the corporate culture. The industry expects that the students must be ready to unlearn and re-learn as per expectations.
The industry today requires resilient workers who can acclimatize viz-a-viz market demands and client expectations. They should be adaptable to modern and traditional approaches. MBA pass outs are not only expected to be flexible to the changes but also be able to be overcome the challenges associated with it.
Meeting deadlines and achieving targets can be very demanding. Organizations want resources who are quick-learners, go-getters, innovators, and ingenious enough to overcome difficult situations. The industry expects the MBA grads to be resourceful and hundred percent productive within the allocated budget.
MBA graduates mostly work as managers, analysts, consultants, and strategists. A large part of their job profile expects them to work in cross-functional teams across geographies. This demands accountability at every level they work. The industry today expects them to be responsible towards the company, the team(s), and themselves. They should be responsible team players and contributors in the growth of the company.
Any organization or an entrepreneurial venture can only be successful if its resources are ethical and righteous. MBA grads must be aware of the difference between legal, moral, and ethical standards required to work in the industry. B-schools must impart values such as honesty, integrity, and sincerity in their students, which can transform their students into principled managers and leaders.
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