What is the future of MBA? I am sure you must have heard this question many times and read numerous articles on the internet on this topic. Well, the fact is the future of business education is online. Read on to learn more….
Go Online Or Go Out Of Business
Web-based MBA programmes have taken the world by storm and many students as well as educators are singing the praise of online MBA for obvious reasons. Richard Lyons, Dean of the Haas School of Business (University of California- Berkeley), recently commented that almost 50 per cent of all B-schools would go out of business in the coming 5 to 10 years.
Why? Simply because of the effectiveness, accessibility, affordability and popularity of online delivery of MBA programmes. However, when we are talking about the future of business studies, there are several other factors we must look at. The impact of technological advancements will undoubtedly result in considerable changes in the established MBA curriculum.
Humans Vs. Robots- Are You Ready?
Even though it may sound a bit too sci-fi, the fact remains that in the near future technology will drastically transform the workplace and the composition of workforces. How? Picture this…with continuous technological progress, most business in the future will utilise a blend of smart machines, Artificial Intelligence, smart robots and even some humans to increase the efficiency of the workplace. This will directly result in reducing the number of human workers, and in various sectors it will be substantial.
Although it looks like an episode from The Twilight Zone, but a September 2013 study by Michael Osborne and Carl Frey of the University about the future workforce reveals that it is in fact the truth. The report studied 702 categories of jobs in the US and determined if the risk of technological advancements in replacing human workers in coming 10-20 years was low, medium or high. The judgement was made on the basis of anticipated technological progress and required skills.
What did the future workforce study find? The researchers discovered that almost 47 per cent of all American employees have a high risk of getting replaced by technology. Furthermore, 19 per cent of US employees have a medium risk of getting displaced.
How Can You Survive?
Now comes the real question…what can we do better than these Artificial Intelligence smart machines to stay in the workplace? Osborne and Frey, along with Andrew McAfee and Erik Brynjolfsson (authors of The Second Machine Age), and Steve Hamm and John Kelly (authors of Smart Machines) believe that we can remain relevant in the workplace by performing functions that require high social and emotional intelligence, creativity, complex critical thinking, innovative thinking and/or moral judgements.
Can MBA Programmes Help?
But can the current traditional MBA programmes assist you to develop these capabilities and skills? Let me be honest with you, thinking creatively and critically is not easy. Learning emotional and cognitive can be challenging for anybody.
If you wish to think innovatively and critically and learn high social and emotional intelligence, then you must first learn how to beat your natural emotional and cognitive proclivities. This is what current traditional MBA programmes are missing.
So What Can You Do? Get Online
Remember when I said the future of business education is online? Online programmes are designed to help you learn innovative and critical thinking processes and acquire the skills to manage your emotions and thinking. Moreover, postgraduate diploma in business online programmes help you to develop mindfulness, empathy and humility.
These skills are learned by doing and applying them repeatedly and making them a habitual way of thinking and behaving. Online MBA programmes help you in achieving this by offering personalised developmental attention, effective mentoring, immediate feedback and ample scope and time to work hard. These programmes also have a unique teacher-student ratio which will enable you to acquire the required capabilities. Postgraduate diploma in business online programmes have a certain professorial approach and a degree of intensity which most business programmes are missing.
Get Set For The Future
There is no doubt that most of the existing MBA programmes will be driven out of business if they are unable to deliver MBA content online. I believe that online MBA will help you and other students to prepare for the future and remain relevant in an evolving workplace dominated by technological advancements.
What is your opinion about the future of MBA? How do you think you will stay relevant in the future workplace? Share your views and thoughts with us.