The latest trends that have changed Indian managerial education

A country’s economic development is related to its educational advancements. In the 21^st Century, India has witnessed noticeable changes in its managerial education system. At present, Indian managerial education system has become professional in nature. Every best MBA institute of India is launching cutting-edge managerial courses.

In contemporary economic scenario, managerial education has got new dimensions.  The sector of managerial education is dynamic.  Fresh tools and technologies are introduced periodically to enhance the productivity of managers of tomorrow. A few trends that have shaped today’s management education are listed below.

Globalisation

Barriers among nations have melted away because of developing technology and increasing interdependence among countries. Business, nowadays, has become global. The strengthening of economies of developing nations – India, China, etc. – is questioning the hegemony of the West. Globalisation has created a level playing field for developing and developed nations. Presently, a business’ impact over other business is profound. For instance, the Great Depression of 2008: it impacted the entire world.

The globalised world requires managers to have global competencies. Today’s managers need to be aware of not only their businesses, but competitors’ strategies as well. For building such competencies in managers, even the best university in Dehradun has designed its business administration course structure accordingly.

With the coming of globalisation, the conventional approach of management education underwent a sea change. Globalisation has changed the operating structure of business, public and social organisations. The need to change managerial training system has become pressing with modifications in organisational structures. 

Technology

Wave of globalisation could not have impacted businesses if it were not for the advancements in technology. The statement is corroborated by the fact that nearly five of the world’s most innovative companies are technology driven. Technology has helped in shaping the present-day, commercial world. At present, courting customers and managing supply chains are done with the help of websites, email marketing and social media.

Distribution, marketing as well as manufacturing procedures of a business, nowadays, are managed by real-time information systems. Thus, most business schools have introduced a dedicated course of technology for all managers. Such a course aims to make contemporary managers conversant with the latest technologies.

Corporate Social Responsibility (CSR) and sustainability

A sustainable planet helps in sustenance of a global business. Every business aims to be sustainable because lasting sustainability brings profitability. Presently, each business applies managerial principles to solve long-in-the-tooth issues such as energy, health care, environment protection, and the like.

Nowadays, a well-defined Corporate Social Responsibility (CSR) strategy needs to be devised by every business. Future managers must combine principles of management to build a robot CSR strategy. Owing to the growing importance of CSR, many B-schools have introduced a special subject for giving managers lessons about their social responsibilities. The future managers are expected to introduce new projects and activities that have a positive socio-environmental impact.

The above-named trends are shaping managerial education. Each of these trends has significant influence over the syllabus of present-day business management program.