Did you know that the first ever MBA program was offered in 1908 by Harvard Business School? We have sure come a long way since then but with the innovations in the world around us today, the course is steadily losing its sheen. Do you agree? Read on to explore more.
While a few decades ago, MBA was equated to be the ladder to absolute abundance in one’s career. However, the shifting market trends have gradually altered that dynamic. It isn’t hard to notice a steady decline in the demand of MBA graduates in the professional space today. It is for this very reason that a lot of aspiring professionals are questioning whether the MBA program they are aiming for will reap them the results that they expect out of it. Through this article, we uncover the current position of an MBA program in the professional sphere while also suggesting alternative courses to pursue to get onto the route to success. Read on to find out more!
Declining Job Prospects
When we look at the dynamic market today, there is a heightening requirement of multitalented professionals who are well versed with interdisciplinary knowledge that comes in handy while dealing with complex issues. When it comes to an MBA program, the education lays emphasis solely on the sphere of business. While the sphere of business is continually expanding and merging with diversified streams, it is imperative that aspiring business professionals undergo the relevant training to keep up with all those domains. This can be identified as a major reason for the decline of MBA and its subsequent job prospects.
Recession Caused By The Pandemic
The Covid-19 pandemic affected nearly all spheres of life including the arena of business. The recession that it created gave rise to unemployment that in turn led a lot of degreed professionals settle for entry level jobs for survival. The fact that MBA served as a golden ticket to managerial position did not remain valid during the pandemic. Post the lockdown when the businesses did begin to reopen, all they needed were strategic planners and innovators who could bring distinctive ideas onto the table, something that no MBA degree can guarantee.
Lack Of Flexibility
Flexibility has turned into an absolutely essential factor for survival in today’s professional space. We need flexibility and ease of movement in terms of job roles, business strategies, marketing techniques and the like. And when that is the case, we need to ensure flexibility right at the root. It is therefore important to graduate with a degree that offers more flexibility, especially pertaining to the areas of study, the access to education and also the flexibility in navigation across different programs of study. This could also be traced as a reason for the downward sloping trend in the demand of MBA programs, as aspirants often head towards faster and more flexible course alternatives.
Exploring Alternative Programs
While this sharp MBA decline does mark the end of an era, there are other courses that are expected to reign at the very top in a couple of years. Building your career in those arenas can then prove to be immensely beneficial to achieve peak professional success. Some of the most natural and rather sought-after alternatives can be Marketing and Strategic Management. These programs offer a more expansive outlook on business, inculcating innovations that are imperative for businesses to grow and expand in the trans positioning trade setup today. Marketing and strategy can then be seen as more flexible versions of MBA, sprinkled with insights that are in-line with the modern market requirements.
Author: Shivangi Gupta. She is the founder of Intelligent Education, a Delhi-based education consultancy firm.
(Views expressed in the article are those of the author. India TV does not confirm its veracity.)
