The changing scenario of the business education landscape in 2021

The changing scenario of the business education landscape in 2021
  • June 25, 2021
  • IMT

The world has witnessed a lot of change in its working pattern. Sweet memories are when working from the office was the best desire and campuses were abuzz with students.

But hey there! Did you witness that change in the work system post-Covid scenario? If yes, this won’t shock you that business education will also undergo several changes in 2021. This is not an easy thing, but easy paths barely lead to satisfactory success, as many business schools in UAE believe!

Not every individual is a born business person. Don’t we believe rough seas make the best sailors? Why not bring the same picture when it comes to moulding any individual into a Business Person?

Moulding a person into a business person is the task of Business education! That itself has witnessed some roller-coaster changes in the current scenario!

Before discussing the fluctuating trends of business education, let’s pull some exciting facts on the table!

Exciting revelations about Business Education

  1. Often weak economy brings forth a higher passion for business education.
  2. 1819 witnessed the opening of the world’s first business school.
  3. A business degree is not less than an investment.
  4. A downfall accompanied the internet boom in the business course enrolments.
  5. MBA graduates bag a job opportunity within three months post course completion.

Various trends witnessed in the Business Education Graph

Education has witnessed different trends in its graph. Not all trends are similar, but some of them have been encouraging! Not to miss, some in the actual start have been a bit low too!

Bringing Business Education into the picture, here are a few fantastic trends or patterns noticed in the past few years.

  1. Digitisation was not much. Earlier education was imparted primarily using writing notepads and such supplies. Only after we witnessed the IT boom, business education sector could be seen coming together with IT.
  2. Research and development were kept at bay. Business Education is not a theoretical subject to be mugged down. Challenging situations will help in becoming an experienced and trained business learner.
  3. The emphasis on complete development, including social, moral and cultural, has been a part of the business education system. This could have been done using any ethical guide, some of which might be the religious books or any uplifting high moral combination!
  4. Students suffered a lack of proper facilities. Such a lack impacts the learning capacity of students.
  5. Exposure to the real business scenarios was not taken into consideration. Just a theoretical approach was the one trending in those times.

Having said that, business education has witnessed a potential change. Things are not the same though a lot more change has to be witnessed in the course.  The education sector is brainstorming about new things to be introduced to bring an effective change in the current trend.

Some of the trends witnessed in the Business Education Sector currently

  1. Technology has made a more considerable drift!

AI (Artificial intelligence) and big data have a significant impact on business education compared to the earlier times when IT was just a nominal part of business education. Companies are not demanding business education students to be engineers and computer hackers. They are not at all expected to be data scientists, electrical engineers or the best in computers.

But imparting simple skill and knowledge of technology will be adding amazingly to the portfolio of the students. Something every business education portal should and has started practising.

The demand is to be competitive enough to understand the strategies and devise schemes to suit the market and the technology trend.

  1. Practical knowledge is a must!

Gone are the days when theoretical knowledge was enough. The world now demands high input and ever-increasing efficiency. Just theoretical norms and mugging up MBA concepts will not suffice!

Business universities in Dubai are now focussing on the ground skills. It is imperative to know what to do when an emergency or some situation arises in business. This is far better than just knowing few concepts and not being able to apply them when needed.

The education system now focuses on knowledge exchange programs. Internships and such bits of help are positively included in training programs.

  1. Soft skills are not optional!

Soft skills like leadership qualities and communication are optional or confined to just a little chunk of people.

Consideration of balance between environment and business skills or operation is indispensable. This brings the more important question in focus. Whether the ongoing business practice will help prolong the possibility of human and environmental survival or not.

This also brings into question of sustainability of the processes and the methods. Nobody seeks just short term growth and opportunities. Aiming at lifelong measures is a must, and we all need to think in that direction.

  1. Facilities are greater than ever before!

The whole game of Business Education notices some change. The change was not only in the trends or the success ratio is provided. There is a whole lot of change in the kind of facilities business schools in UAE, and other places provide.

Things are not only confined to free access to internet technology. It is even more about having open space to speak and bring thoughts to the surface.

Having said and mentioned all, things won’t work, and ideas won’t be successful if we don’t work. With such drastic change in Business Education trend, we all need to be a bit adjusting.

While doing so, we will bring ourselves to new levels. While doing so, we also create innumerable possibilities to grow as a Business Prospect!