Management Education was introduced at a time when the world was predictable. But now we are in a VUCA world which is full of challenges and uncertainties. Same situations are not repeated every day. There are new challenges that the leaders/ managers have to encounter. Earlier management education was all about leadership only. But now ‘Developing Dynamic Capabilities’ is the future of Management. Dynamic capability in an individual implies to integrate, build and reconfigure internal and external competencies to address to rapidly changing environments. Hence, it is essential to embrace Management Education with the concept of ‘Dynamic Capabilities’.
But now the big question is how to develop dynamic capabilities? The answer is embrace core competencies as strategic assets.This can be done with different measures:
ii) Rapid Prototyping
Things don’t work out one way. We need to scramble and do it again. Ironically, Business students are trained to find single plan and then execute on that.It is essential management education develop expertise in the areas of leadersip, strategy, innovation and people management.
The future holds a lot of potential for Management graduates as professionals in this technology and networking dominant scenario. Career choices for individuals should vary based on personal skills and aptitudes. However, there are external factors such as economy, industry developments and job market’s weather, which determines one’s success in the professional world. Understanding the consequences of the revelations at ground zero is vital for all the parties involved, especially the aspirant. As a result, one needs to choose the B school with a lot of care and bearing in mind the adaptability of the institute towards this crisis.
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