In these days of rapid innovation, MBA students need to look for programs that equip them well for the future than just depend on a few cases studies to earn them a place in the job market.
However, a knowledge of business history is needed so that you do not repeat the mistakes of the past. Along with that, you should develop the ability to anticipate and prepare for changes in the economy.
Another aspect of a pioneering curriculum would be a number of courses dealing with various aspects of Artificial Intelligence (AI), set to revolutionise the marketplace and the job market in the coming years.
Under such circumstances, how would you, an MBA aspirant, find the right program? Well, U.S. News quotes experts who suggest looking out for schools that offer courses in predictive analytics.
This course uses historical as well as current business data to create forecasts or precise mathematical models.
Such forecasts are used by firms to find business opportunities that would be hard to discover otherwise and to determine which of a series of business ideas is most viable.
Kenneth Ko, an associate professor of decision sciences at Pepperdine University’s Graziadio School of Business and Management, suggests that the students should develop the ability to explain such forecasts to colleagues who may lack formal analytics training.
The students should also participate in class projects that require them to produce forecasts for actual companies.
The second course that would increase the value of the MBA would be Organizational Behaviour. It analyses forming of company culture and its influence on the employees.
Such studies help students to develop an in-depth understanding of factors that foster a culture of creativity and on avoiding pitfalls resulting in a destructive environment.
For those intending to carve out a career in private equity, venture capital and investment banking, a knowledge about the factors that contribute to an organization’s success or failure makes it easier to identify companies that are worthy of investment.
Another aspect of a pioneering curriculum would be a number of courses dealing with various aspects of Artificial Intelligence (AI), set to revolutionise the marketplace and the job market in the coming years.
Ko advises students to go in for courses on business ethics as increasingly, customers are looking at this aspect of business more closely. Any negatives would lead to loss of business.
It is also needed to ensure that companies comply with all the regulations including Corporate Social Responsibility (CSR) requirements.
In the recent past, companies have faced customer boycotts for unethical behaviour of the employees and it is difficult for companies to hide scandals.
A faculty with real-world experience is also to be preferred over one that lacks significant work experience or those who have spent the bulk of their career in academia. They would lack awareness of emerging business trends compared to their peers who have been leaders at major companies or currently running companies.
However, innovation does not always mean 100% success. Lessons are needed on how to deal with ambiguity and failure. Such courses should also equip you with the wherewithals on how to recover and move on with life.(Image Source:google.com)